by Asset Strategy | Sep 28, 2022 | Inflation, Taxes & Tax Planning, The New York Times
New York Times High inflation has taken an obvious toll on the cost of groceries, new cars and rents, among other things. But it may also help to know that, in addition to a big boost to Social Security payments, inflation could help save money on your federal tax...
by Asset Strategy | Sep 21, 2022 | Retirement Income, Taxes & Tax Planning
Taxes are highly important to consider when it comes to your retirement. You’ll likely have several sources of income in retirement that can be taxed, such as IRA distributions and Social Security benefits. But do you have any after-tax sources that you can use...
by Asset Strategy | Aug 24, 2022 | Financial Planning, Forbes, Taxes & Tax Planning
You might not think about taxes until tax return time, but you should plan ahead. Many of us mess up tax issues every day. These tax mistakes aren’t felonies, but you don’t want to end up next April 15 having logged 365 days of tax mistakes. Here are three...
by Asset Strategy | Aug 10, 2022 | Retirement Planning, Taxes & Tax Planning, Wall Street Journal
Wall Street Journal If you are younger than age 59½ and want to withdraw money from your individual retirement account, there are several exceptions that could allow you to do so without incurring the 10% early-withdrawal penalty from the IRS. One such exemption being...
by Asset Strategy | Apr 11, 2022 | Estate Planning, Financial Planning, Retirement Planning, Taxes & Tax Planning
Retirement planning can seem overwhelming, even if you feel you’ve saved enough to retire. It’s hard to know where to begin because a comprehensive retirement plan involves so many elements, from an investment strategy to tax minimization. When faced with a complex...
by Asset Strategy | Mar 21, 2022 | Financial Planning, Healthcare & Medicare, Social Security, Taxes & Tax Planning
The Social Security trust fund is now expected to be depleted by 2034, according to a recent report from the Social Security and Medicare trustees.[1] That’s one year earlier than they reported last year, and the pandemic is to blame. Less was collected in payroll...
