Tax strategies

“It is really as important for plans to get people thinking about income rather than just accumulation,” an expert says.

Both firms have lower advisor headcounts, higher productivity and relocation plans — but Blucora's acquisitions have boosted its wealth management business.

Older clients who have lost a job prior to retirement are advised to first consider filing for unemployment insurance and begin making revisions to their budget.

Aside from income taxes, retirees will also pay consumer taxes and may face a 3.8% Medicare surtax.

Two years after the tax law eliminated write-offs for investment costs and advice, lawyers say they have found a loophole hidden in years-old IRS case law.

The agency will send several dozens agents to make at least 800 face-to-face visits in February and March of this year.

The Social Security retirement rate is based on their highest 35 years of wage-indexed earnings.

The spike in the number of older employees in the workplace reflects a trend over the past decade.

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.

Retirement savers stand to gain more by investing their money instead of taking an interest-free reimbursement.

Along with other decisions, dating the amount of money they need to withdraw would help them in retirement planning and spending.