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Taxes in Retirement Planning
Taxes in retirement should be everyone’s concern. There’s a number of tax smart strategies every pre-retiree and retiree should consider once they enter the distribution phase of life. Many of these strategies can help you get your tax burden as close to zero as possible.
small biz owner tax & succession planning
Through tax planning for small business owners we pay particular attention to how to pay less taxes (legally) through special strategies. We also help you analyze your profitability, valuation and set you up with a succession plan for your retirement.
Taxes in Retirement Education
We believe when you know more, you can keep more. That’s why we focus on helping you get smart about taxes in retirement. We offer online and in-person workshops through our network of TSR pro’s as well as resources like our library, blog and tax calculators.
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The One Big Beautiful Bill Act (OBBBA): What Retirees 55+ Need to Know
The One Big Beautiful Bill Act — officially Public Law 119-21 — was signed into law on July 4, 2025. It’s sweeping. It’s complex. And it touches almost every part of the tax code. But if you’re 55+ and thinking about retirement, here’s the real question: What does this mean for my retirement income, taxes, Read more about The One Big Beautiful Bill Act (OBBBA): What Retirees 55+ Need to Know[…]
The Coming Medicare Premium Shock—and Why It Could Trigger an IRMAA Avalanche
There’s a stealth change coming to Medicare—and it could hit your wallet harder than you think. According to the 2025 Medicare Trustees Report, the standard Medicare Part B premium is projected to rise to $206.50 per month in 2026. That’s an 11.6% increase from the $185 premium set for 2025—and the biggest single-year jump since Read more about The Coming Medicare Premium Shock—and Why It Could Trigger an IRMAA Avalanche[…]
End-of-Year Financial Checklist: 8 Smart Money Moves (+ a Bonus Tax Hack You’ll Love!)
As the year comes to a close, it’s the perfect time to tackle those important financial tasks and start 2025 on solid financial footing. Here are 8 strategic moves to consider, plus a bonus tax hack to turn expenses into major rewards. Let’s get started! 1. Use It or Lose It: Check Your FSA If Read more about End-of-Year Financial Checklist: 8 Smart Money Moves (+ a Bonus Tax Hack You’ll Love!)[…]
Like It or Not, Taxes are Constantly Changing
Tax policy and rates have always been fluid, much more so than most people realize, as they only focus on it for short periods one time a year. You also don’t see many high school or college classes on the history of taxes and tax planning, unless you’re in accounting school. Like a distant relative Read more about Like It or Not, Taxes are Constantly Changing[…]
A Hidden Tax That You Can Avoid Paying with Proper Planning
People who earn more than $91,000 a year ($182,000 for joint filers) and who are in Medicare Part B or Medicare Part D, or both, will face additional premiums, called income-related monthly adjusted amount (IRMAA). IRMAA “surcharges,” which is a replacement word for a tax, are based on income earned two years prior to the coverage year. A Read more about A Hidden Tax That You Can Avoid Paying with Proper Planning[…]
Tax Planning Surprise. Use a CRAT or CRUT to “Put Back” Your Stretch IRA Options for Non-spouse Beneficiaries!
As of Jan. 1, 2020, the SECURE Act requires the entire balance of a non-spousal participant’s inherited IRA account to be distributed or withdrawn within 10 years of the death of the original owner. The 10-year rule applies regardless of whether the participant dies before, on, or after the RMD (required minimum distribution) age at which Read more about Tax Planning Surprise. Use a CRAT or CRUT to “Put Back” Your Stretch IRA Options for Non-spouse Beneficiaries![…]
Know the Tax Consequences of Your Stock Trading
Don’t let your stockbroker off the hook when it comes to tax planning. Many people work with brokers when they buy and sell stocks. Many people now, because of the internet, also have become their own stockbrokers, doing their own research and trading on various platforms. Whether you use a professional or do your trades yourself, you still Read more about Know the Tax Consequences of Your Stock Trading[…]
Did Your Withholdings and Estimated Tax Payments Equal Your Tax Due? Should It?
For people with just one or two W2s and perhaps a daycare deduction, getting the amount of tax paid into the IRS to come out correctly is easy enough and can be done within a 95% accuracy rate. The IRS gives the follow instruction: All taxpayers should review their federal withholding each year to make Read more about Did Your Withholdings and Estimated Tax Payments Equal Your Tax Due? Should It?[…]
Tax Deadline Day Really Only Means Tax Payment Day!
Some people have filed their tax return, received a refund and already spent it. Others have filed and paid and the “pain is over” for another year. But for many who have not filed and are looking at the calendar and saying “Oh, no!”, here are some tips. If you haven’t filed because of a Read more about Tax Deadline Day Really Only Means Tax Payment Day![…]
Simple Tax Tips Are Sometimes the Best
People often struggle with record keeping and are typically so busy that they are simply unaware of tools or services that have been developed that could greatly improve the recording of tax deductible expenses, mileage, etc. Many topics we could cover here, but two that are universal. If you are in business, you have a Read more about Simple Tax Tips Are Sometimes the Best[…]