Tax Tips for Ages 55+
How to Pay Less Taxes in Retirement
Get more after-tax retirement income by lowering the taxes you pay. Between ages 55 and 70 the right kind of tax planning will mean you pay less taxes in retirement.
Retirement Taxes - Frequently Asked Questions
In the United States, there are no specific retirement taxes. Instead, you continue to pay tax on your income each year as you receive it, much like you did before you were retired. So, if there are no retirement taxes, how do you know how much tax you will pay in retirement? Each type of income you receive will have different tax rules that...
2013 Tax Rates
With 2013 tax rates some permanent rules were put in effect. Thank goodness! Here's how the tax rates turned out; with good news for lower earners and not-so-good news for higher earners.
Capital Loss Carryover - A Capital Loss Can Carryover To The Next Year
Capital losses can carryover to future tax years to be used to offset future capital gains.
When Tax Deferred Accounts Can Hurt You
Socking away all your money into tax deductible retirement accounts may not always be the best thing to do.
IRS Tax Tips For Seniors
IRS publications and tax tips for Americans age 55+.
Tax Answers By Fairmark.com
One of my favorite resources for quick, easy-to-understand answers to tax questions is Fairmark.com. From their home page you’ll find links to Fairmark’s Online Guides covering topics like ROTH Retirement Accounts, Social Security, Capital Gains, AMT, Compensation in Stock and Options, and much more.
Free Tax Help For Those Age 55+
Free tax help and tax preparation for low to moderate income levels, age 60 or older. Offered through AARP. Ask a question online, or locate an office near you.
What if You Can't Pay the Taxes You Owe?
You have just finished preparing your tax return and notice that you owe Uncle Sam a hefty sum, but you can’t afford to pay it. Are you going to jail? Probably not. The realization that you can’t afford to pay your taxes can make you feel uneasy, but don’t worry, there are some actions you can take to remedy the situation.
This table shows how much tax a married couple with $12,000 a year in Social Security benefits might pay.
This table shows how much tax a married couple with $40,000 a year in Social Security benefits might pay.
How Rental Real Estate Tax Deductions Fit Into A Financial Plan
Is rental real estate a good investment? Sometimes it depends on your ability to use the rental real estate tax deduction.
Medicare 3.8% Tax – What is it and How Will it Affect You
The new Medicare 3.8% tax starts in 2013 and will affect high income earners. Here's how it works and who it applies to.
6 Resources to Use to Find Retirement Tax Friendly States
You can have far more income to spend if you live in one of the best states for retirement income taxes verses one of the worst. Is it worth relocating? You never know until you start looking.
2013 Retirement Planning Rules, Rates and Limits
Brush up on 2013 tax rates and retirement plan contribution limits so you can use them to your maximum advantage.