Part II: Sheltering Income in Retirement
Of course, building a retirement fund is only half the battle. Once you reach retirement, every dollar of your income becomes very dear. So in Part II of the Retirement Tax Guide we spell out what you can do after retirement to keep the most money away from the IRS. Further, each tax-saving strategy we explain is low risk and designed to trim your tax bill without triggering any audit flags.
4. Trimming Your Tax Bill
- Table 3: What Part of Your Benefit Is Taxable?
- Normal Retirement Age Rising
- Shrink Your Income
- When to Start Collecting Benefits
- How to Take Your Lump Sum
- Rollover Roulette
- Withdrawals: Decisions, Decisions ...
- Life Expectancy Table
- Cope with the New 3.8% Medicare Surtax
5. Cashing in on Annuities
- Flexibility or Tax Savings?
- Split Annuities
- Lifeline to Safe Borrowing
6. Super Shelters for Retirement Income
- Tax Breaks With CRTs
- Inflating Income With CRTs
- Investment Property: Exchange, Don't Sell
7. Relocating: Research in Advance
- State/Local Tax Burdens
- Escape From Tax Traps
- The Artful Dodge
8. Home, Sweet-Equity Home
- Over-55 Exclusion Repealed
- Recycle the Gain Exclusion
- Cashing In
- Reverse Mortgage Basics
- Finding a Lender
- Different Strokes: Sale-Leasebacks
Bottom line: You're the only one who can provide a dream retirement for yourself.
Major changes are looming for Social Security and Medicare – changes that could rock your retirement plans and end up being billed to the taxpayer. Regardless of what surprises the future might bring, from Washington or Wall Street, you can have the retirement you prize, but you have to get your strategy in place now. The Retirement Tax Guide will show you how to do it.
Phillip A. Ash, CPA
President and Publisher