Income Tax Planning in Retirement
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How To Take Withdrawals At Retirement
Retirees don’t receive much advice on the best ways to take distributions from their investment accounts after retirement. Financial firms have a wealth of easy-to-find information on saving through taxable and various tax-advantaged accounts. Yet they don’t seem interested in helping you decide how to plan withdrawals from the accounts. Most Americans have their retirement […]
Five Strategies for Underwater Investments
We’ve done better than most investors since the market peak in March 2000, including the most recent market decline. Even so, you still might own some underwater investments, especially in your Core Portfolio. For example, American Century Income & Growth has declined with the general market. These underwater investments can be used productively to minimize […]
Strategies to Reduce Alternative Minimum Tax
This year for the first time Renee and I were hit by the alternative minimum tax. A large capital gain, over which we had no control, triggered this tax and increased our bill. Many of you recently had the same experience, and many others will in the next few years. More people will pay this […]
Special Tax Problem of Retirement
Today’s retirees are the wealthiest generation in history, and that makes them a target for the tax man. A special tax problem for many retirees is the required quarterly payment of estimated income taxes. After decades of having taxes automatically deducted from their paychecks, many have trouble adapting to the system of writing a check […]
Family Limited Partnerships Considerations for Estate Planning
family limited partnerships are evolving, and people are finding more uses for them. Until recently, family limited partnerships (FLPs) were considered primarily vehicles for reducing estate and gift taxes. But these vehicles are so flexible that families are finding many practical uses for them, even when taxes aren’t an issue. You might find that they […]
Tax Breaks Increase For 2002
You’ll be able to give away more money tax free in 2002. Inflation indexing finally has pushed the annual tax-free gift amount to $11,000. The annual amount has been indexed for inflation since 1997, but adjustments are only to the nearest $1,000. Tax-free gifts can be made to anyone. You don’t need a relationship with […]
How to Plan Tax Savings Now for The New Year
Most people focus on income and estate tax planning at year-end. In recent visit I’ve given you advice on how to get the most from year-end planning. But I believe you can save more money and build more wealth by planning and making moves at the beginning of the year. This is the best time […]
The New Era Of Dynasty Trusts For Estate Planning
Dynasty trusts are making a big comeback under the 2001 tax law. Before the estate tax was enacted many years ago, dynasty trusts were the standard way to ensure family wealth was preserved and grew through several generations. Now, with the estate tax being phased out more families can emphasize the non-tax goals of estate […]
