Taxes

Trump’s Tax Cut Risks Your SNAP, Medicaid Benefits

The GOP budget blueprint could slash lifesaving programs for millions of U.S. households....

Recast mortgage or hold after-tax money for retirement investing

I just retired and had to buy a house late. I am in year 3 of a 30 year mortgage at 6.375%. I have enough in pre-taxed income, 401k, HSA, and Roth to live comfortably but not lavishly. Would I be smar...

Four Takeaways From Filing Your Taxes to Boost Your Financial Future

Now that another tax season is in the rearview mirror for most of us, what lessons can you take from what you learned about your finances to plan for the future?...

How to Tax-Loss Harvest with Vanguard

Tax-loss harvesting is a strategy where you sell losing positions to get a tax deduction. Here's how to tax-loss harvest with Vanguard. The post How to Tax-Loss Harvest with Vanguard appeared first on...

First 100 Days: Trump's Impact on Your Finances

Here are some opportunities to consider regarding investing, interest rates and tax cuts as the financial landscape shifts under the new administration....

What Would Happen if You Put Your Tax Refund in an IRA?

Not only could you get a tax break, but the compounding effect over 35 years could turn the average refund into nearly $14,000....

A QLAC Does So Much More Than Simply Defer Taxes

Here are the multiple ways you can use a QLAC, from managing retirement risks to creating income for specific retirement needs and wants....

High State Income Taxes: The Ugly, the Bad, and the Good

Last year, I paid six figures worth of state taxes. How can I justify continuing to live in this state when it costs so much money to do so? The post High State Income Taxes: The Ugly, the Bad, and th...

A Confident Retirement Starts With These Four Strategies

Work your way around income gaps, tax gaffes and Social Security insecurity with some thoughtful planning and analysis....

Up to 85% of your Social Security benefits could be taxes – take these steps now!

To read this story on KSL.com, click here. Up to 85% of your Social Security benefits could be taxed. Many families planning for retirement don’t realize this – or how…...

Markets Roller Coaster: Resist the Urge to Make Big Changes

You could do more harm than good if you react emotionally to volatility. Instead, consider tax-loss harvesting, Roth conversions and how to plan for next time....

How to file a tax extension: Everything you need to know

Not ready to file taxes by April 15? Here's how to file an extension with the IRS. Some states have been declared federal disaster areas, providing some taxpayers automatic extensions....

Widow's Penalty: Three Ways to Protect Your Finances

Higher Medicare premiums, smaller Social Security payments, bigger tax bills … Financial changes can hit hard when a spouse dies. How to counter the blow....

4 Things You Can Do with Required Minimum Distributions (and 1 You Can’t)

Some people are annoyed by having to collect Required Minimum Distributions and pay taxes on them. But here are some good ways to use them. The post 4 Things You Can Do with Required Minimum Distribut...

Are You Ready to Pay More Taxes to Save Social Security?

Across party lines, many believe saving Social Security trumps other financial considerations....

Reduce Your Retirement Tax Risk With the Three-Bucket Strategy

Splitting retirement funds into three buckets with distinct tax treatments can help you avoid a nasty tax bill down the line. Here's how the strategy works....

What to Do With Your Tax Refund: 6 Ways to Bring Growth

Use your 2024 tax refund to boost short-term or long-term financial goals by putting it in one of these six places....

Video: Taxes in Retirement Office Hours

Planning for the future should involve strategizing to minimize taxes. Explore 25 tips to help you plan, do retirement tax filings, and save money. The post Video: Taxes in Retirement Office Hours app...

14 Ways the Ultra-Rich Pay Less in Taxes (While You Pay More)

The ultra-rich don’t waste time complaining about taxes like everyone else. They know the game, and they play it better than anyone. While most people see taxes as unavoidable, the wealthy treat...

How to Travel Hack with Your Rent and Taxes

To reach financial independence, you need to be unconventional. When everyone else owned a car, we took public transit. When everyone else ate out, we packed our lunches. When everyone else bought a h...

U.S. Treasury to Eliminate Paper Checks: What It Means for Tax Refunds, Social Security

President Trump signed an executive order forcing the federal government to phase out paper check disbursements by the fall....

A slice of paradise, fractionally owned: The shift in vacation homeownership

Owning a vacation home seems like the dream, until factoring in maintenance, property taxes, and the reality of only using it a few weeks a year....

Video: Get Started Series 1, A Tour of the Boldin Planner

Planning for the future should involve strategizing to minimize taxes. Explore 25 tips to help you plan, do retirement tax filings, and save money. The post Video: Get Started Series 1, A Tour of the ...

RMD Deadline April 1: Five Tax Strategies to Manage Your 2025 Income

The April 1, 2025, deadline for required minimum distributions (RMDs) is fast approaching for retirees who turned 73 in 2024....

Taxes in Retirement: 25 Terrific Tax Planning Tips for a Wealthier 2025 and Beyond

Planning for the future should involve strategizing to minimize taxes. Explore 25 tips to help you plan, do retirement tax filings, and save money. The post Taxes in Retirement: 25 Terrific Tax Planni...

What Retirees Need to Know About Taxes

Take steps to avoid a surprise tax bill and underpayment penalties....

How Are Investments Taxed In Retirement?

Note: The winners of last week’s FIRE album giveaway will be announced at the end of this post. I’ve been asked on numerous occasions how we deal with taxes in retirement. Spoiler alert, i...

Tax Advantages of Oil and Gas Investments: What You Need to Know

Tax incentives allow for deductions and potential tax-free earnings — benefits accessible only to accredited investors in small producer projects....

Taxes in Retirement: What ESOP Participants Need to Know

Most Employee Stock Ownership Plans (ESOP) participants transfer company stock to an IRA starting around age 55, so taxes on that money have been deferred....

10 Best Tax-Free Investment Options to Consider

Successful investors will take advantage of tax-free investments to lower their tax burden but should take care not to sacrifice higher returns in doing so. The post 10 Best Tax-Free Investment Option...

How Roth Accounts Can Ease Your Tax Burden in Retirement

Strategic Roth IRA conversions can set you up for tax-free income in retirement and a tax-free inheritance for the people you love....

Tax Diversification: Smart Ways to Preserve Your Nest Egg

A long and active retirement may be costly — and may even bump you into a higher tax bracket. Paying some taxes on your savings now could be the answer....

Millions to Lose Health Coverage if ACA Tax Credits End

If providing healthcare to more Americans is the goal, the COVID-era tax credits for people buying insurance on the Affordable Care Act (ACA) marketplaces have been a big success. Enrollment in ACA po...

Kick the IRS to the Curb in Retirement

That 401(k) or traditional IRA you've filled with your hard-earned money could turn into a tax bomb. Before it blows, see if a Roth could help rescue you....

How the Ultra-Rich Avoid Taxes: The Buy, Borrow, Die Strategy 

You might’ve heard whispers about the “Buy, Borrow, Die” strategy. Sounds like something only billionaires in boardrooms talk about, right? But it’s not. It’s a perfectly...

How Does California Tax Your Social Security Benefits?

If you want to retire in or to California, you may wonder how California will take your Social Security and other retirement benefits....

Tax-Smart Ways To Cash In Capital Gains

Investors are looking to take some profits before they disappear. Fortunately, there are strategies that can reduce capital gains taxes on investment profits....

Don't Forget About State Taxes When Making Roth Conversions

Converting a traditional IRA account to a Roth IRA is a fabulous part of a proactive tax-planning strategy to reduce the tax drag on your retirement income....

Tax Credits That Can Increase Your Refund

When filing your tax return, certain refundable tax credits are more valuable than the more common, non-refundable credits. The post Tax Credits That Can Increase Your Refund appeared first on Getting...

10 Tax Topics Every Retiree Should Know About

A little knowledge can go a long way toward saving on your tax bill. Print this out and take it to your tax planner so you can have a productive chat....

How Likely Are You to Get Audited by the IRS? A CPA Answers

Taxes are a headache. Audits are worse. Nobody wants to deal with the IRS sending a letter, asking for records, and possibly demanding more money. But is an audit something most people should actually...

18 Tax Moves for Beginners: Simple Tips That Could Save You Thousands 

Taxes feel confusing when you’re just starting out. Forms, deductions, credits, it all sounds like a foreign language. Mess up, and the IRS might take more than its fair share. Get it right, and...

Tax-Deductible Home Improvements for Retirement in 2025

Your aging-in-place plan could benefit from the medical expense tax deduction. But watch out for capital gains and property taxes....