Tax strategies

Pre-retirees may consider funding a Roth account to take advantage of tax-free compounding and tax-exempt withdrawals in retirement, an expert writes.

A Roth conversion “not only to minimize heirs’ tax burden but also to sustain the growth of [their] retirement savings."

The HSA has become increasingly valuable for future medical expenses, "and the triple tax benefit simply can’t be ignored,” an expert says.

They are advised to consider making amendments if they want to take advantage of temporary tax provisions that Congress extended retroactively in December.

Why do advisors focus so heavily on planning for a lifestyle change that may never happen?

Pre-retirees are encouraged to save aggressively and create a list of things they plan to spend their money on without remorse, an expert says.

While it’s recommended they have at least three sources when they retire, just 6.8% of savers have done so, according to a report.

While they don't need a child to claim the earned income tax credit, the benefit's value increases based on the number of kids clients have.

As the wealthy often sidestep estate taxes, one law professor offers a code change that forces heirs to pay income and payroll taxes on all inheritance.

Relief comes as a result of the short notice firms were originally given to comply with the Secure Act, the agency says.