Taxes don’t stop when you stop receiving a paycheck. If you have multiple sources of income in retirement, your tax burden could be substantial. By understanding how different types of income are taxed, you can develop income [...]
We’ve entered a full year of living with the pandemic, and there have been several events during the year that could affect you this tax season. In April 2020, the CARES Act (Coronavirus aid, Relief, and Economic [...]
Will your tax burden dramatically decrease in retirement once you stop receiving a paycheck? Maybe not – maybe it will increase. Between retirement account distributions, Social Security benefits, and investments, you may have reasons to review your [...]
As we enter this tax season, we may realize that our situation has changed. Maybe we were affected by the CARES Act, COVID, or went through a life change such as retirement, or became empty nesters. All [...]
You might expect your tax burden to decrease in retirement – afterall, you’re no longer receiving a paycheck that incurs income tax, the payroll tax, and Medicare tax. However, your income in retirement could be significant, between [...]
Here come the holidays and everything that goes with them – traveling, cooking, buying gifts, and of course, spending time with the people we love. It’s a busy time of year when finances can take a back [...]
The Social Security Administration recently made some important announcements that workers and retirees should note, including a Social Security benefit increase – and a tax increase. While it’s very unlikely that the program will ever disappear, we [...]
Most people assume that their tax burden will dramatically decrease in retirement once they stop receiving a paycheck, but this isn’t always true. A high tax bill is one retirement risk to be aware of and to [...]
The revised tax day date, July 15th, is upon us, and there are several important things to note, whether you’ve filed already or not. While our tax bill might only be at the forefront of our minds [...]
As the coronavirus spread, the government stepped in with unprecedented economic interventions, from direct payments to Americans, to relief for businesses. While these measures may be necessary to mitigate the damage done by the virus and the [...]
