Planning your estate? Don’t overlook income taxes

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Planning your estate? Don’t overlook income taxes

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July 10, 2024 ,

estate income tax

The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before 2011, a much smaller exemption resulted in many people with more modest estates attempting to avoid it. But since many estates won’t currently be subject to estate tax, it’s a good time to devote more planning to income tax saving for your heirs.
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Will You Have to Pay Tax on Your Social Security Benefits?

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August 25, 2020 ,

social security tax

If you’re getting close to retirement, you may wonder: Are my Social Security benefits going to be taxed? And if so, how much will you have to pay?

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Thinking About Moving to Another State in Retirement? Don’t Forget About Taxes

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June 24, 2019 , , , , , ,

New State Taxes after Retirement

When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor state and local taxes into the equation. Establishing residency for state tax purposes may be more complicated than it initially appears to be.
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