Maximize your tax return with a strategic approach to itemized deductions known as "bunching." This technique involves timing your expenses to take full advantage of itemized deductions in alternate years while opting for the standard deduction in others. 📊
Let's talk about a commonly overlooked aspect of retirement planning: state taxes on Social Security benefits. While many focus on federal taxes, it's crucial not to forget about the state level. Some states tax Social Security while others don't. Where does your state fall?
Are you worried about how RMDs might not only bump you into a higher tax bracket but also trigger all sorts of hidden troubles in retirement—like affecting your Medicare premiums? In my latest podcast episode, I dive into the 'RMD Cliff.’ It’s crucial for anyone to manage your RMDs smartly.
The performance of the stock market (talking the S&P 500 Index here) is often more influenced by the composition of Congress rather than by the Presidency. This is because Congress has legislative powers, which is where actual laws and policies happen.
I’m hoping on to my soapbox here really quick… ! THE MARKET DOESN'T REALLY CARE WHO'S IN THE WHITE HOUSE !
“Which candidate is better for the market and economy?” “If this candidate wins or that candidate wins should we sell everything” “If this candidate wins we better buy everything” But even scarier questions are for those of you close to retirement: “If this candidate wins will I still be able to retire?”