Article Library

Category: Taxes

Ignoring This Conventional Advice Could Save You on Taxes in Retirement

Neal Templin, Barron’s, 07.12.2021

Getting money into a tax deferred savings vehicle like a 401K or IRA is only half the job; getting it out tax efficiently is the other half”.

Avoiding Biden’s proposed capital-gains tax hikes won’t be so easy—or will it?

Robert McClelland, MarketWatch, 05.03.2021

Don’t feel too relieved just yet that you’ll probably dodge President Biden’s proposed 43.4% capital gains rate for taxpayers who cross the $1 million income threshold. Why? Because his proposals seek to tax unrealized gains at death rather than allow a step-up in basis. Right now, estates taxes are governed largely by the estate tax exemption of $11.7 million per individual. This proposal would add a layer of tax on estates that kicks in at Biden’s much lower exemption amount of perhaps $1 million per individual. This could prove to be a change to tax law that captures not just the wealthy, but also the moderately affluent, like you.

Biden’s Legislative Agenda Is Still Limited. What’s Likely to Pass—and What Isn’t

Evie Llu, Barron’s, 01.12.2021

Barron’s take on Biden’s likely legislative agenda is fairly positive for most reading this post – fiscal stimulus programs on top of massive existing monetary stimulus from the Fed, with potential for a few modest tax increases. The loser is the national debt. Nothing new there!

The Tax Rules For Home Businesses And Working From Home

Kerry Hannon, Next Avenue, 11.23.2020

If you worked from home this year it might be worth making sure you’re up to speed on the main rules around claiming home office expenses and/or being reimbursed by an employer for work-related expenses.

3 Retirement Wealth Protection Tactics

David Afraimi,, 04.23.2020

These tax diversification strategies are becoming even more important given how much extra debt the federal government is incurring during the COVID-19 pandemic.

7 Rules for Wealth #5: The Mortgage Mistake

William Baldwin, Forbes, 01.05.2020

Are you thinking about your mortgage interest the right way? The Tax Cuts and Jobs Act of 2017 changed the mortgage interest deductibility rules.

20 IRS Audit Red Flags

Joy Taylor,, 11.14.2019

A good checklist to keep in mind as you prepare your 2019 tax file.

10 Tax-Smart Strategies With December Deadlines

Ron Carson, Forbes, 10.30.2019

Year-end is just around the corner. Here are 10 items to help minimize your tax exposure for 2019.

How to Keep More Money in Retirement: Diversification That Minimizes Taxation

Ron Anno,, 10.16.2019

Higher future tax rates are a key risk that every high income earner should be thinking about. The following article outlines one of the key strategies to address this risk.

5 key tax questions when you’re responsible for a loved one’s estate

Bill Bischoff,, 08.03.2019

Some basic rules regarding estates that everyone should know.

An Old Tax Dodge for the Wealthy Is Making a Comeback

Karen Hube, Barron’s, 05.07.19

Upstream planning is probably something you’ve never heard of, but in the right circumstances, could be worth considering. Of course there are risks, as with any strategy, including that Congress could change the estate tax exemption yet again in the next few years.

The Secret Way Seniors Can Keep Deducting Gifts to Charity

Laura Saunders & Elisa Cho, Wall Street Journal, 12.07.18

If you’re over 70, and feeling charitable, make sure you read this.

Avoid making these 3 huge tax mistakes ahead of your retirement

David McKnight,, 11.21.2018

Given our massive and rising national debt higher taxes from 2026 onwards are a very likely event. Plan your retirement accordingly.

6 retirement withdrawal missteps that could trigger a 50 percent tax penalty

Lorie Konish, CNBC, 12.04.17

This time of year is required minimum distribution (RMD) time for a lot of retirees. Here’s a good list of missteps to avoid.

Beverly DeVeny, Ed Slott & Co., 10.10.2018

The following article highlights how inherited IRAs can be complex to manage. Unless you’re very familiar with the rules regarding inherited IRAs, it is best to seek advice promptly after receipt of this type of IRA. Penalties for mistakes can be severe.

Changes to the Kiddie Tax May Benefit High-Income Parents

Helen Modly, CFP, CPWA,, 10.03.18

The recent tax cut legislation modified the kiddie tax rules that have significant planning implications for parents. The following article provides a nice summary of the impact for families at various income tax brackets.

10 things you need to know about the new tax law

Bill Bischoff,, 12.20.2017

Good summary of the tax reform package about to go into effect for 2018. Key items for investors are 1) recharacterizations of Roth conversions will no longer be allowed, 2) tax rates on long-term capital gains and dividends stay the same, and 3) the dreaded FIFO rule for capital gain calculations was dropped. 

Gearing up for retirement? Make sure you understand your tax obligations.

Catherine Golladay,, 06.16.18

You must keep planning as you age. This article touches on many of the key tax issues that anyone with retirement savings needs to think about well before retirement arrives.