Taxes in Retirement
Bob Carlson of Retirement Watch on how to manage your taxes and planning strategies to pay less
Found 485 Articles.
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Retirees and State Taxes
How retirees are treated by states varies considerably. Some states that overall are high-tax states actually provide a lot of tax breaks for seniors and are low-tax states for them. But you have to stay on top of things. Many states are changing their tax policies in response to budget shortfalls, and some are removing […]
Managing Portfolios for Higher After-Tax Returns
Taxes on investments in-creased for 2013, and there’s a good probability they’ll increase again at least for some of you. Some tax increases are direct, such as the increase in the rate on long-term capital gains and qualified dividends to 20% from 15%. Others are indirect, such as the Medicare premium surtax on higher incomes. […]
Estimating Taxes Safely
Estimated tax payments are a traditional trap for many retirees. Most were employees during their careers and had income taxes withheld from their paychecks. They never had to deal with the estimated tax rules and are surprised by the process in retirement. If you expect to owe more than $1,000 in federal taxes that will […]
Estate Planning Tax Law Changes Investors Must Understand
A revolution is underway in Estate Planning. You know about the 2012 changes to the law (see our February 2013 issue). They require fresh approaches and strategies. Many believe the new law means estate planning is unimportant. That’s a mistake. A result of the 2012 law is that for most people income taxes are a […]
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High Tax, Low Tax States
State tax laws changed a lot the last few years. States responded differently to the financial crisis and its aftermath. Some raised taxes, while others cut taxes. Some did a little of both, creating new winners and losers. Here’s a survey of all 50 states by Bloomberg that states the per capital tax burden for […]
Answering More Social Security Questions
My recent articles on maximizing Social Security benefits generated a lot of interest among readers and triggered some good questions. In this visit we review some key questions readers asked. My wife died recently. I’m 62 and haven’t begun receiving any Social Security benefits. Since I’m older than 60, I’m eligible to receive survivor’s benefits. […]
Social Security is Paperless
Social Security officially went almost 100% paperless early in 2013. Paper benefit checks no longer are issued. If you don’t schedule electronic deposit into a financial account, Social Security will send you a payment card or debit card. Also, estimated benefit statements no longer are mailed. The statements were mailed to everyone age 25 and […]
Avoiding the Retiree Tax Attack
Income taxes are rising on those in or planning for retirement. Remember, the true value of your nest egg is its after-tax value. Politicians at all levels know that in-come and wealth are concentrated among those 55 and older, so those people are the focus of tax increases. The retiree tax attack tends to be […]
