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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Navigating the New Broker Reporting Rules
Brokers and mutual fund companies soon will be reporting to the IRS and to you the cost basis of assets sold during the year. You soon will have to make a decision that will affect these reports. In 2008 Congress passed the requirement, and phased it in. The first reports occur on Form 1099-B in […]
Planning Year-End 2010 Tax Moves
This will be the most difficult year-end tax planning session most of us ever will face. Since 1994 tax rates declined and tax breaks increased for the most part. Now, a raft full of tax increases is scheduled to take effect Jan. 1, 2011. But Congress could act to at least delay some of the […]
How 2010 Taxes Affect Medicare Premiums
Your tax return for this year will determine your Medicare premiums in two years, if you’ll be a Medicare participant then. Since 2007, as income rises Medicare Part B premiums rise. More people will pay the higher premiums each year under the Affordable Health Care Act of 2010. Through 2010, the incomes at which the […]
Paying Taxes Now Instead of Later
Many financial strategies are changing, and one of the oldest tax planning strategies should be among them for many of you. Since the beginning of the income tax, taxpayers have been told to defer taxes whenever possible. Don’t pay a tax today when you can put it off to a future year. The advantages are […]
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Planning to Avoid the Coming Medicare Surtax
The new Medicare surtax is a major source of funding for the recent health insurance reform. The tax has two elements. A 0.9% surtax is added on earned income over $200,000 for single taxpayers and $250,000 for married couples filing jointly. There’s also a 3.8% surtax on unearned income (investment income) of taxpayers with adjusted […]
Planning for Coming Income Tax Changes
Tax changes are in the works, and you need to take action in 2010 to avoid paying more than you have to this year and in coming years. Strategies in 2010 will be different from past years because of the way the law will change. Consider these unique or overlooked strategies. Consider accelerating income. Tax […]
Still Taking Tax Breaks for Fixing Your Home
Some of the government incentives from the financial crisis have expired, but the tax breaks for making your home more energy-efficient are available through the end of 2010 and apply to energy- efficient improvements you made in 2009. We know more about the breaks than when the law first was enacted, but you still have […]
Planning Next Year’s Tax with This Year’s Return
Don’t close your income tax return file just yet. You need that tax return to plan for the rest of this year and next year. Tax planning used to be something you could do near year-end. These days, it should be more of a year-round activity, and last year’s tax return is the best place […]
