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RetirementGuy
Dec 7, 20231 min read
What's the Gift Tax Exclusion for 2023?
The gift tax exclusion (a.k.a., the gift tax limit or gift tax exemption) allows you to give money or property each year to family...
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RetirementGuy
Nov 3, 20231 min read
15 States That Don't Tax Pension Income
Are pensions taxed? Most states tax at least a portion of the income from many types of retirement benefit plans. Your state might have a...
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RetirementGuy
Oct 19, 20231 min read
Five Strategies to Prevent Regret After Your RSUs Vest
Employees of publicly traded technology companies are familiar with the roller-coaster ride stock prices have been on in recent years. In...
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RetirementGuy
Oct 12, 20231 min read
Will You Owe Taxes When You Sell Your Home?
One of the more controversial aspects of the tax code in the United States is that it effectively incentivizes homeownership. For...
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RetirementGuy
Sep 28, 20231 min read
What Will a Government Shutdown Do?
The increasing likelihood of a government shutdown is spotlighting several federal agencies. But the IRS has been in the news lately,...
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RetirementGuy
Sep 14, 20231 min read
The Problem With 401(k) Catch-Up Contributions for 2024
Under SECURE 2.0, if you are at least 50 years old and earned $145,000 or more in the previous year, you can make catch-up contributions...
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RetirementGuy
Jul 20, 20231 min read
How to Optimize Taxes When You Tap Your Retirement Accounts
Typically, the conventional wisdom suggests a sequential approach to account withdrawal post-retirement, starting with taxable accounts,...
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RetirementGuy
Jul 13, 20231 min read
13 States That Won't Tax Your Retirement Income
If you want to pay less taxes during retirement, moving to a state that won't tax your retirement income is an option. Some states tax...
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RetirementGuy
Jun 26, 20231 min read
2023 Roth Conversion Calculator
Just updated for 2023: Use this Roth Conversion Calculator to understand the tax implications of doing a Roth conversion in 2023. Compare...
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RetirementGuy
Jun 8, 20231 min read
Retirement Planning with Life Insurance
When it comes to retirement planning, most people think of traditional retirement savings vehicles like 401(k) plans, IRAs and Social...
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RetirementGuy
May 11, 20231 min read
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, 20231 min read
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, 20231 min read
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, 20231 min read
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, 20231 min read
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, 20231 min read
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, 20231 min read
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, 20231 min read
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, 20231 min read
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, 20231 min read
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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