RETIREMENTGUY

In 2022, six more states have joined the ranks of those exempting, or partially exempting, military retirement pay from state income tax...

Retirement plans could see some major changes if proposed new legislation is approved by Congress. “They have so many bills,” says Ed...

Conventional wisdom suggests you should save everything you can in tax-deferred retirement accounts to minimize taxes in the current year...

The 2017 tax reform law raised the federal estate tax exemption considerably. Before that law was enacted, the exemption was $5.49...

Depending on your income in 2021, you may be feeling the pain of paying your taxes. Perhaps, you hurt when you look at your paychecks and...

Later this week, advisors handling retirement portfolios will face new requirements to ensure that the advice they are providing is in...

At one time or another, pretty much everyone approaching retirement or early in retirement thinks about spending their golden years in a...

How can a small business owner pass an interest to heirs without triggering a significant estate tax bill? Despite generous tax breaks,...

Americans saw a number of changes to their retirement savings plans when the Setting Every Community Up for Retirement Enhancement Act,...

Filling out tax forms is a pain in the you-know-what. So why on earth would anyone file a tax return if they don't have to? Well,...

Many people are surprised to learn that Social Security benefits can be taxed. After all, why is the government sending you a payment one...

While the overall individual audit rates are extremely low, the odds increase significantly as your income goes up, as it might if you...

Understanding long-term care options Relatively few Americans itemize deductions on their tax return. You can either claim the standard...

As the year comes to an end, it's important to start planning your 2021 taxes to reduce your obligations wherever possible. Thinking...

It is fairly common for people taking required minimum distributions out of retirement accounts, such as IRAs, to pull out more than the...

The IRS has announced contribution and benefit limits for qualified retirement plans for 2022. The contribution limit for employees who...

It took more than four decades for congress to raise the age for required minimum distributions in 2019 from 70½ to 72. Less than two...

Official confirmation that the January cost of living adjustment (COLA) for federal retirees will be 5.9% is good news. Up to a point! It...

The 'mega-backdoor Roth IRA' is on the chopping block, too, but neither is a done deal. On Sept. 13, Democrats on the House Ways and...

The Ways and Means Committee released the first draft of a major tax bill this week. While it is mostly aimed at increasing taxes to pay...