Taxes

Benefits of Donating Your Required Minimum Distribution to Charity

If you are 70½ or older, you can donate your IRA Required Minimum Distribution (RMD) to your favorite charity as a qualified charitable distribution (QCD). The donation counts as your required minimum distribution but does not increase your adjusted […]

Benefits of Donating Your Required Minimum Distribution to Charity 2017-05-17T09:55:07+00:00

Getting a Big Annual Tax Refund? (What the IRS isn’t Telling You)

Retirement FAQ

The person who does our taxes always seems to come up with ways for us to get a bigger refund each year.  But, I’m not so sure getting a big refund each year is the way I should be planning my taxes.  Am I wrong?

Answer< [...]

Getting a Big Annual Tax Refund? (What the IRS isn’t Telling You) 2018-06-06T11:41:25+00:00

4 Ticking Time Bombs That Could Blow Up Your Retirement Budget

Typically, the assumption is that when you retire your expenses will decrease by about 20-30%. You will stop spending as much on things like gas, eating out, or a pricey business wardrobe. Plus, the kids are out of the house and supporting themselves […]

4 Ticking Time Bombs That Could Blow Up Your Retirement Budget 2018-06-06T11:38:23+00:00

What’s the difference between the marginal tax rate and the effective tax rate?

Retirement FAQ

When I complained to my co-worker that my salary increase means that I will be taxed at a 30 percent marginal tax rate, he told me my “effective tax rate” is actually much lower.  What’s the difference between the marginal ta […]

What’s the difference between the marginal tax rate and the effective tax rate? 2018-06-06T11:37:01+00:00