On March 1, the US announced it would be imposing tariffs on imported steel and aluminum. The market did not take this news in stride and stocks tumbled. Sin […]
Are investment management fees tax-deductible? This very simple question has been made more complicated by the tax code.
For taxable accounts, investment management fees are a tax-deductible on your Schedule A. There is a […]
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 […]
Taxes on Social Security Benefits
Q: Are Social Security benefits taxable?
A: It depends.
Long answer: Some people have to pay federal income taxes on their Social Security benefits. But this usually […]
It’s December! Before the New Year arrives, don’t forget to button up your financial life by checking off these important to-dos, where appropriate for your personal situation.
- Maximize your retirement account contributions (including ca […]
At Sigdestad Financial, 2015 marks the 10th year we have been helping individuals and families successfully transition into retirement.
You’ve spent years working toward retirement. But reaching retirement—and staying retir […]
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?
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 […]
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 […]