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RetirementGuy
Apr 18, 20221 min read
SECURE Act 2.0: 14 Ways the Proposed Law Could Change Retirement Savings
Americans saw a number of changes to their retirement savings plans when the Setting Every Community Up for Retirement Enhancement Act,...
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RetirementGuy
Mar 31, 20221 min read
11 Reasons to File a Tax Return Even If You Don't Have To
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,...
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RetirementGuy
Mar 10, 20221 min read
Calculating Taxes on Social Security Benefits
Many people are surprised to learn that Social Security benefits can be taxed. After all, why is the government sending you a payment one...
118 views0 comments


RetirementGuy
Mar 3, 20221 min read
14 IRS Audit Red Flags for Retirees
While the overall individual audit rates are extremely low, the odds increase significantly as your income goes up, as it might if you...
134 views0 comments


RetirementGuy
Feb 3, 20221 min read
"Above-the-Line" Deductions for Your 2021 Tax Return
Understanding long-term care options Relatively few Americans itemize deductions on their tax return. You can either claim the standard...
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RetirementGuy
Dec 16, 20211 min read
6 End Of Year Tax Planning Tips For 2021
As the year comes to an end, it's important to start planning your 2021 taxes to reduce your obligations wherever possible. Thinking...
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RetirementGuy
Nov 23, 20211 min read
A Simple RMD Mistake That Can Cost Retirees Thousands
It is fairly common for people taking required minimum distributions out of retirement accounts, such as IRAs, to pull out more than the...
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RetirementGuy
Nov 5, 20211 min read
IRS Announces 2022 Retirement Plan Contribution and Benefit Limits
The IRS has announced contribution and benefit limits for qualified retirement plans for 2022. The contribution limit for employees who...
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RetirementGuy
Oct 14, 20211 min read
The Downside of Delaying RMDs
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...
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RetirementGuy
Oct 14, 20211 min read
Giant COLA: Mixed blessing!
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...
87 views0 comments


RetirementGuy
Sep 23, 20211 min read
Is the Door Closing on Backdoor Roth IRAs?
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...
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RetirementGuy
Sep 16, 20211 min read
7 Ways The New Tax Bill Could Impact Retirement Planning
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...
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RetirementGuy
Aug 5, 20211 min read
33 States with No Estate Taxes or Inheritance Taxes
The Tax Cuts and Jobs Act raised the federal estate tax exemption considerably. Before the tax reform law, it was $5.49 million per...
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RetirementGuy
Jul 15, 20211 min read
8 Retirement Distribution Strategies That Will Make Your Money Last
Saving money for retirement is only part of ensuring a financially secure future. The other half involves making smart decisions about...
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RetirementGuy
May 20, 20216 min read
Biden Policies to Impact Stock Markets
While presidential policies matter, policies never move markets uniformly Will the policies of the Biden Administration have a negative...
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RetirementGuy
Apr 1, 20211 min read
Easy to use Payroll Withholding Calculator
Use the 2021 W-4 Tax Withholding Calculator and optimize your paycheck tax withholdings and update your W-4. Input your information in...
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RetirementGuy
Mar 26, 20211 min read
Now Is the Time to Convert Your Traditional IRA to a Roth
THE IMPACT OF THE pandemic along with low tax rates makes 2021 an opportune time to convert a traditional individual retirement account...
149 views0 comments


RetirementGuy
Mar 11, 20211 min read
How to Minimize Social Security Taxes
Retirees with low incomes or whose only source of income is Social Security generally don't pay income tax on their Social Security...
181 views0 comments


RetirementGuy
Mar 4, 20212 min read
Beware Scams at Tax Time
Here’s what to know and how to protect yourself. Identity thieves often swipe your bank or credit card account numbers, birth date...
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RetirementGuy
Feb 9, 20211 min read
RMD Strategies to Help Ease Your Tax Burden
Many people who save money in traditional 401(k)s, Individual Retirement Accounts (IRAs) or other tax-deferred investment vehicles do so...
222 views0 comments
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