Month: July 2025

One of the most common and costly misunderstandings in retirement is that Social Security benefits are always tax-free. While they can be, for millions of retirees, a portion of their benefits is indeed taxable. The surprising part? The taxability of...

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When it comes to lowering your tax bill, nothing is more powerful than a tax credit. While deductions reduce your taxable income, tax credits reduce your actual tax liability dollar-for-dollar. For seniors, several key credits can slash your tax bill...

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Understanding your federal tax bracket is one of the most important parts of effective retirement tax planning. It helps you estimate your tax bill, make smart decisions about retirement withdrawals, and plan for major financial moves. This guide provides a...

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For many seniors, retirement is a time to give back to the causes they care about most. But did you know that *how* you give can be just as important as *how much* you give? The U.S. tax code offers...

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When planning for retirement, your potential new home's climate and proximity to family are important. But one of the most critical factors for your financial health is the state's tax policy. Choosing a tax-friendly state for retirement can save you...

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When planning your retirement, you likely focus on your savings, investments, and Social Security. But there's another critical factor that can dramatically impact your financial health: your zip code. The state you live in can mean the difference of thousands...

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While the higher standard deduction offers a simple way for many seniors to reduce their taxes, it can also cause you to overlook thousands of dollars in potential savings. If you have significant expenses in certain areas, itemizing your deductions...

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If you filed for a tax extension back in April, the final countdown has begun. The October 15, 2025, deadline to file your 2024 federal tax return is fast approaching. While an extension gave you more time to prepare, it...

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In retirement, your income no longer arrives in a simple paycheck. It flows from multiple streams—retirement accounts, pensions, Social Security—and each one has a different set of tax rules. Understanding these rules is the foundation of retirement tax planning and...

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Each year brings shifts in the tax code, but recent legislation, particularly the SECURE 2.0 Act, has introduced some of the most significant changes to retirement and tax planning in decades. For seniors, understanding these new tax laws for 2025...

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