Taxes

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The Lucky 37

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Although the IRS imposes income tax on the Social Security benefits of certain senior citizens, the majority of states don't. In fact, only 13 states tax Social Security benefits, and many of these have more generous income thresholds than the IRS....

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401(k) Rumblings

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The 401(k) plan has been in the news of late, as lawmakers have turned their focus on the tax system. In order to increase current tax revenue (without having to “raise” tax rates), one proposal being floated is that employee contributions to such plans would no longer be on a “pre-tax” basis....

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A Taxing Matter

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It's one thing to build up your retirement savings so you can retire, but equally important is the planning you should do to minimize the tax bite after retirement.  The task may take some time, so it’s important to plan in advance....

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A Reminder for First-time RMD Retirees

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Even though the IRS is extending the April 15 deadline for filing your tax return to April 18 this year because of the weekend and a Washington, D.C., holiday, you don't get a similar extension for taking your first required minimum distribution (RMD). If you turned 70½ in 2016, you actually have until April 1, 2017 to take your first RMD...