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Year-End Tax Planning is Different This Year

Year-end tax planning will be unique and tricky this year. The usual year-end strategies are complicated by the potential for significant tax increases over the next couple of years and the lack of details we have today. In addition, the incentive to...

Published 10-09-2009 11:24 AM by Bob Carlson

Filed under: Carlson, Bob Carlson, income taxes, year-end tax planning

When It Pays to Mix Annuities and IRAs

Most of the time it’s not a good idea to combine an IRA with an annuity. The IRA already has tax deferral, so why take on the costs and limitations of an annuity? But there are a couple of times when it may make sense to mix an annuities with an...

Published 10-02-2009 10:25 AM by Bob Carlson

Filed under: Estate Planning, IRA Benefits, Traditional IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, estate taxes, retirement plans, annuities

Pay Off Debt or Continue Owing in Retirement?

Paying off the mortgage used to be part of the American dream and a prerequisite to retirement. Then, times changed. Debt management and the use of leverage spread from businesses to personal finance. It was not unusual for people to enter retirement...

Published 08-21-2009 10:13 AM by Bob Carlson

Filed under: Carlson, Bob Carlson, income taxes, homes, mortgages, retirement plan, retirement, financial crisis, retirement plans

The Four Goals of Legacy Planning

Perhaps one of the worst effects of high estate taxes is the way tax planning diverts attention from other important estate planning issues. For many years, I have stressed that estate planning is about much more than taxes, but most people believe estate...

Published 08-13-2009 8:29 PM by Bob Carlson

Filed under: Estate Planning, estates, Estate tax, gifts, Carlson, Bob Carlson, wills, income taxes, trusts, estate taxes, grandkids, grandchildren, creditor protection, small business, family limited partnerships

Your IRA and Your Heirs

The unfortunate fate of many IRAs shows why everyone needs an estate plan, even when the value of the estate is far below the taxable level. Few people are aware of what could happen to their IRAs when the next generation inherits them. Most people, and...

Published 05-29-2009 4:22 PM by Bob Carlson

Filed under: Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, wills, income taxes, iras, trusts, ira distributions, estate taxes, retirement plan, retirement, retirement plans

The ABCs and XYZs of Trusts

Trusts are fairly simple. Lawyers and estate planners make them seem more complicated than they are. That’s too bad, because to ensure they have effective estate plans nonlawyers need to understand the different types of trusts and how they work...

Published 05-06-2009 11:17 AM by Bob Carlson

Filed under: Estate Planning, estates, Estate tax, Carlson, Bob Carlson, wills, income taxes, trusts, estate taxes

A Dangerous Retirement Myth

Many retirement plans fall short of their goals because they were built on myths and misunderstandings. Most of my work at Retirement Watch falls into two categories. The first category is determining changes that should affect retirement plans. The second...

Published 04-17-2009 10:15 AM by Bob Carlson

Filed under: IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, retirement plan, retirement, medical expenses, retiree health care, retirement plans, investments

Dos and Don'ts of IRA Investing

Many people own substantial IRAs and have the bulk of their investment portfolios in IRAs. Some of these investors might not realize there are investments that are prohibited from IRAs and others are allowed but incur tax penalties. The issue of how to...

Published 04-03-2009 10:18 AM by Bob Carlson

Filed under: Bob Carson, IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, real estate, retirement plan, retirement, retirement plans, employer stock, stock, selling a business, small business, stocks, investments, portfolios

Time to Stop Deferring Taxes?

Conventional investment advice has been turned on its head by changes in the fundamentals of the economy and markets. Now, fundamental changes in the government, demographics, and the economy are forcing changes in tax policy and tax planning advice....

Published 03-19-2009 1:34 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, Carlson, Bob Carlson, income taxes, iras, ira distributions, estate taxes, retirement plan, retirement, retiree health care, retirement plans, stock, stocks, stock market, portfolios, income investing

Asset Declines=A Planning Opportunity - Part 2

Last week we discussed how today’s economic distress creates estate planning opportunities. Because of today’s reduced asset values, estate owners can shift assets out of their estates tax at much lower tax cost than they could have a year...

Published 02-20-2009 11:46 AM by Bob Carlson

Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, wills, income taxes, trusts, homes, estate taxes, grandkids, annual exclusion, grandchildren, financial crisis, investments, portfolios

Taking Advantage of the 0% Capital Gains Tax Rate

For the two lowest tax brackets, the tax rate in 2008 through 2010 is 0% for qualified dividends and long-term capital gains. This compares to the 15% top rate others will pay on those types of income. Single taxpayers with taxable income up to around...

Published 01-30-2009 5:21 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, estates, Estate tax, tax-free gifts, taxable gifts, gifts, Carlson, Bob Carlson, income taxes, trusts, estate taxes, grandkids, grandchildren, retirement, stock, stocks, investments, portfolios

2009 a Key Year for Roth IRA Conversions

Converting a traditional IRA to a Roth IRA has been a valuable tool to consider since the Roth was created in 1997. There are two reasons why a conversion is worth far more consideration now than in the past . First, a brief review of the basics. A Roth...

Published 01-09-2009 3:05 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Carlson, Bob Carlson, income taxes, iras, ira distributions, retirement plan, retirement, financial crisis, retirement plans, stocks, portfolios

A Tricky Year-End for IRA Owners

Update Dec. 19: On Dec. 11 Congress passed legislation that suspended the required minimum distribution requirement for 2009. But it did not change the requirement for 2008. the IRS was asked by members of Congress to suspend the requirement for 2008...

Published 12-05-2008 9:15 AM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, retirement plan, retirement, financial crisis, retirement plans, stock, stocks, stock market, investments, portfolios, market timing

Your Retirement Plan and the New Washington

Come January, Democrats will be in charge all over Washington. They campaigned on a theme of change, and we should expect major changes. The questions are which changes and how will they affect your retirement finances? I will focus on the changes I think...

Published 11-07-2008 12:44 PM by Bob Carlson

Filed under: Bob Carson, Estate Planning, IRA Benefits, Traditional IRA, Roth IRA, estates, Estate tax, taxable gifts, gifts, Carlson, Bob Carlson, wills, income taxes, iras, ira distributions, estate taxes, retirement plan, retirement, financial crisis, retirement plans, stock, stocks, stock market, investments, portfolios, market timing, market indicators

Maximizing the New Roth IRA Opportunity

The markets created an opportunity for investors to convert traditional IRAs to Roth IRAs. The opportunity will last only as long as the financial crisis lasts and markets are bearish. Investors who converted their IRAs into Roths earlier this year probably...

Published 10-17-2008 6:05 PM by Bob Carlson

Filed under: Bob Carson, IRA Benefits, Traditional IRA, Roth IRA, Carlson, Bob Carlson, income taxes, iras, ira distributions, grandkids, grandchildren, retirement plan, retirement, retirement plans

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