Retirement Watch Weekly
Still Taking Tax Breaks for Fixing Your Home
Some of the government incentives from the financial crisis have expired, but the tax breaks for making your home more energy-efficient are available through the end of 2010 and apply to energy- efficient improvements you made in 2009. We know more about the breaks than when the law first was enacted, but you still have […]
Planning Next Year’s Tax with This Year’s Return
Don’t close your income tax return file just yet. You need that tax return to plan for the rest of this year and next year. Tax planning used to be something you could do near year-end. These days, it should be more of a year-round activity, and last year’s tax return is the best place […]
April 2010
April 29, 2010 03:30 p.m. Wild week of headlines and more For many months volatility was declining in the investment markets, and investors were secure in the belief that the economy was solid and asset prices would continue rising. Things have changed a bit. On Tuesday afternoon, the headlines were not to rosy. Here’s what […]
Avoiding Traps in the Expired Estate Tax
The expiration of the estate tax is not good news for every-one. A new tax replaced the estate tax, and some estates, mostly modest estates, will pay more in the new tax than they would under the old estate tax. People who previously weren’t worried about estate taxes have to worry about the new tax. […]
Estimating Retirement Medical Expenses
The spending wildcard in most Retirement plans is medical care. For many years, we were largely on our own when estimating these costs. Recently, detail-ed estimates of retiree medical spending have been issued to guide our planning. The latest estimate is that the typical married couple, with each spouse each 65 today, jointly will spend […]
Reviewing Your IRA to Maximize Benefits
IRAs are one of the most valuable assets owned by most Americans. Unfortunately, few people conduct an annual review of their IRAs. An annual review is an important step in maximizing the long-term value of your IRA. In this visit we examine the essential steps for a 2010 IRA review. Beneficiaries. Financial and estate planners […]
Choosing Distributions from Your IRAs
Many IRA owners don’t realize that distributions don’t have to be in cash, whether they are required minimum distributions or other distributions. You can take a distribution in any form you want, as long as your IRA custodian will do the transaction. Part of the reason for the confusion is contributions to IRAs must be […]
Averting Problems in This Year’s 1099-Rs
Retirees need to pay careful attention when completing their 2009 tax returns. Some changes in the forms and in the financial services industry could cause confusion and mistakes in your return. The mistakes could cause the IRS to contact you in a few months and maybe result in penalties and interest. Financial industry upheaval. Many […]
