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News and advice on how to minimize your tax liability in retirement

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How to minimize taxes on your investments | How to Invest: Ep. 9

Understanding how Uncle Sam taxes your investment gains is the first step to making sure those taxes stay as low as possible. Here's what you need to know.

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Worried about a hike in capital-gains taxes?

3 tips for a tax-smart portfolio

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IRS to send out 4 million refunds this week to people who overpaid taxes on unemployment benefits

About 13 million Americans in all will receive tax refunds because of a provision in the American Rescue Plan related to unemployment insurance income.

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How to invest without paying taxes | How to Invest: Ep 8

Generally, the government taxes your investments, but in certain types of accounts taxes can be bypassed - or significantly reduced. Here's what to know about tax-advantaged accounts and how they can work for you.

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14 U.S. states now give the rich this big tax break — and the only loser is Uncle Sam

More states may allow some high-income business owners to get around the $10,000 limit on federal deductions for state and local taxes.

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Watch out — too much tax deferral can backfire on small business owners

Even though 2020 is over, you can still defer taxable income for that year if you’ve not yet sent in your return.

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IRS audits fell in 2020 — with one big exception

Internal Revenue Service audit numbers dropped again in 2020, continuing a downward trend that’s been occurring for years --- except for one group of taxpayers.

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The difference between a vacation home and a rental property — and what it means for your taxes

The IRS wants to know how much time you spend at that old family cabin at the lake.

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Should I roll my Roth 401(k) into a Roth IRA?

There are many rules, don't get them mixed up.

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To Roth or not to Roth? Part II

Further discussion of research that challenges the conventional wisdom

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To Roth or not to Roth?

A new study challenges conventional thinking on Roth conversions

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Is deferring taxable income a good idea? Usually, but here’s how it can backfire

It's possible to have too much tax deferral. Here are some tax-smart moves to make instead.

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‘I’m still not on the Roth IRA bandwagon’: Have you made these tax blunders?

Doing a post-game analysis on your tax return can help you learn from your mistakes.

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Why am I being charged a penalty on my Roth conversion?

You cannot reverse the conversion, but there might be a loophole

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Do you have to pay taxes on withdrawals from 529 college-savings plans? Here’s how to avoid an unpleasant surprise

Tax Guy answers FAQs on the popular 529 college savings account plans.

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Do I have to pay taxes on sports betting? The taxman could be coming for your winning bets

Bettors may have to pay federal and state taxes on sports betting winnings if certain thresholds are met

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Who is exempt from the 10-year rule when inheriting an IRA?

There's no lifetime stretch, except for a few exceptions

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Should you give up your U.S. citizenship if you live abroad? Here’s how to decide

Nine million Americans live abroad, and many have to pay taxes in two different countries.

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Biden’s plan to fully tax capital gains is good policy

Impact to gains on home sales could be mitigated by updating the exclusion

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How do nanny taxes work? They’re complicated, but skipping them is a mistake

FAQs on federal tax issues for household employees. 

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I am new to required minimum distributions and have a lot of questions — can you help me?

Taking your RMD got a little trickier and might be higher this year if you waived it in 2020