6 Ways to Lower Taxes in Retirement
6 Ways to Lower Taxes in Retirement Entering retirement brings many changes, but freedom from taxes isn’t one of them. You’ll still have to pay your debt to Uncle Sam every year. However, while you may not be able to avoid the bill, thoughtful planning can lower the expense. Here are six ways to lower […]
New IRS Treatment of Canadian Retirement Plans
The IRS has made it easier for U.S. taxpayers to benefit from favorable tax treatment on their Canadian retirement plans in 2014. Any U.S. taxpayer with a registered retirement savings plan (RRSP) or registered retirement income fund (RRIF) is now eligible for tax deferral, similar to the treatment of IRAs and 401(k)s. To qualify, all […]
Additional Tax Law Changes for 2015
I have touched upon the main tax issues that will changing in 2015, but below are a few additional issues that you should be aware of when beginning to plan for 2015: Limited to One IRA Rollover per Year: Any taxpayer who receives an IRA distribution on or after January 1, 2015, will not be […]
New Retirement Distribution Rules for 2015
The IRS has modified the rule regarding retirement plan rollovers to multiple qualified destinations. The previous rule (which is in effect until December 31, 2014) considered each destination from a retirement plan distribution to be a separate distribution. This meant that if you had both pre-tax and post-tax contributions in your retirement plan, you were not […]
