How are Annuities Taxed?
Understanding how annuities are taxed, and specifically how they fit into a tax-efficient retirement withdrawal plan, is a common pain point with many people we talk to. The tax rules
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Understanding how annuities are taxed, and specifically how they fit into a tax-efficient retirement withdrawal plan, is a common pain point with many people we talk to. The tax rules
The federal government allows you to claim dependent children until they are 19. This age limit is extended to 24 if they attend college.
Utilizing a 529 plan can be greatly beneficial toward anticipating the expenses ahead; however, it is difficult to predict what may be received in grants and scholarships in the future.
Just once in your lifetime you are allowed to roll money from your IRA to your HSA, or health savings account. This IRA to HSA rollover is called a “qualified
Although often overshadowed by the higher federal tax rates, state income taxes can take a large bite out of earnings. Thankfully, there are a few options to reduce your state tax bill. For those in highly taxed states, simple changes like saving using treasury bills instead of bank CDs for your cash savings could knock off hundreds of dollars per year in your state tax bill. What else can you do? Here is a quick list:
The Net Investment Income Tax is an added tax that is charged on dividends, interest, and capital gains from your investments. It can also apply to many other forms of
If you don’t need your RMD (required minimum distribution) to cover ongoing living expenses, you are required to still take it. Here are 3 options that can help you reduce
There are a number of valuable items you can review on your tax return to reduce how much tax you are paying when retired:
There are a number of ways to use your investments to give to charity that not only are great for the charity, but also gives you potentially valuable tax breaks.
Roth conversions can be a huge benefit for many investors and retirees. In fact, we help many of our clients with them every year. But, it takes proper planning to