Will You Pay Higher Taxes in Retirement?
Let us first talk about Social Security tax, which is unique. And keep in mind that before 1983, Social Security benefits were not taxed....
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RetirementGuy
- May 4
- 1 min
Here’s how to leverage the ‘window of low taxes’ for retirement plan withdrawals, advisors say
Saving for retirement often comes with an upfront tax break when funneling money into pretax accounts. But it’s also critical to manage...
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RetirementGuy
- Apr 6
- 1 min
Joint Account With Rights of Survivorship and Alternatives Explained
The goal for most parents when they ask about this is to give their children access to their money during an emergency. It seems like it...
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RetirementGuy
- Mar 23
- 1 min
5 Secure 2.0 Act Changes That Could Affect Your Taxes
The Setting Every Community Up for Retirement Enhancement (Secure) 2.0 Act ushers in a number of retirement planning changes that could...
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RetirementGuy
- Mar 9
- 1 min
Annuities: 10 Things You Should Know
Out of favor for a long while, annuities — the controversial and often misunderstood long-term insurance contracts — are getting more...
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RetirementGuy
- Feb 23
- 1 min
What’s A QCD?
A Qualified Charitable Distribution is a mechanism by which you use your required distributions from your retirement accounts to...
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RetirementGuy
- Feb 23
- 1 min
9 IRS Audit Red Flags for Retirees
As you bask in your retirement years, enjoying dinners with your friends, spending time with family, and traveling more than you did...
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RetirementGuy
- Jan 26
- 1 min
Tax Season is Here. What to Know Before You File
First and foremost, tax filing season has officially started. The IRS began accepting tax returns on Monday, January 23rd. The IRS says...
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RetirementGuy
- Jan 18
- 1 min
Tax Doc Checklist for 2022
Every year, it can pay off to get organized and gather your tax documents early, both because you’re likely to receive your tax refund...
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RetirementGuy
- Jan 12
- 1 min
You Just Got More Control Over Your Retirement Account: Delayed RMDs and Beyond
Like the previous retirement bill passed in 2019, SECURE (Setting Every Community Up For Retirement Enhancement), Secure 2.0 is based on...
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RetirementGuy
- Jan 12
- 1 min
New RMD Rules: Starting Age, Penalties, Roth 401(k)s, and More
There are some new rules for required minimum distributions (RMDs) from retirement savings accounts (e.g., traditional IRAs and 401(k)...
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RetirementGuy
- Jan 5
- 1 min
2023 Retirement and Benefit Account Contribution Limits: 401k, 403b, IRA, HSA, DCFSA
The beginning of the year is also a good time to check on the new annual contribution limits for retirement and benefit accounts, many of...
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RetirementGuy
- Dec 29, 2022
- 1 min
Inheriting an Annuity? Here’s a Little-Known Way to Stretch Its Tax Benefits
One of the biggest advantages of an annuity, tax deferral, can be lost when anyone other than a spouse inherits an annuity. Then, all...
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RetirementGuy
- Dec 29, 2022
- 1 min
The SECURE 2.0 Act’s Impact On Roth IRAs
The SECURE Act 2.0 caught a ride on the $1.7 trillion omnibus spending bill that was unveiled on December 19. While the bill presents...
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RetirementGuy
- Dec 29, 2022
- 1 min
Secure Act 2.0 — Here’s What You Need to Know
If you'll recall, the original Secure Act was passed at the end of 2019. It raised the Retired Minimum Distributions (RMD) age to 72,...
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RetirementGuy
- Dec 22, 2022
- 2 min
10 things to consider before year end
Here are ten things that you might consider doing before the end of the year to ensure that you are well-prepared for tax season and have...
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RetirementGuy
- Dec 22, 2022
- 1 min
Congress may pass new retirement rules. These 7 changes are on the table
There soon may be new retirement rules in place that could make it easier for Americans to accumulate retirement savings — and make it...
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RetirementGuy
- Nov 25, 2022
- 1 min
How to Invest in Qualified Opportunity Zones: Step-By-Step
The primary benefit of investing in these communities under a qualified opportunity zone program is the deferral of capital gains tax...
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RetirementGuy
- Nov 25, 2022
- 1 min
Benefits of a 1031 Exchange
Here’s the good news: The real estate your about-to-retire client owns has increased in value significantly since they bought it. The...
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RetirementGuy
- Nov 3, 2022
- 1 min
When RMDs Loom Large, QCDs Offer a Gratifying Tax Break
When you were younger and busy building your nest egg, it’s likely you didn’t give much thought to the impact required minimum...
81 views0 comments
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