Things are even harder to figure out for people who are retired, receiving Social Security, and working full or part-time. Most retirees don’t have a clear understanding of how much they are taxed on job income they receive from post-retirement employment. [Read more…]
Yes, the 2009 Stimulus Bill contains a little something for boomers and retirees: The retiree tax credit and the Making Work Pay credit. The former credit will depend on your Social Security status. The latter credit will depend on your income. [Read more…]
Like many of you, I have quite a bit of down time between Christmas and New Year’s Day. I use some of my year-end downtime to think about any last minute moves I should make to maximize financial and tax planning strategies for this year and to prepare for the new year.
This is a list of money moves I have done or will be doing before the end of the year. [Read more…]
The IRS has targeted vacation homes, second homes, and even rental homes with new rules that govern taxation of capital gains. These new rules go into effect January 1, 2009. Because ownership (or desire of ownership) of vacation homes is most common among baby boomers, it is an important issue to consider. [Read more…]