Nobody likes tax season. But for new retirees, it can come with a few unwelcome surprises. The rules have changed, the income sources have shifted, and strategies that made sense during your working years may no longer apply. Today we're looking at some of the biggest tax mistakes retirees make as discussed in a recent Kiplinger article and whether these match what we see in the real world.
When a parent passes away, emotions and finances tend to collide, especially when real estate is involved. One of the most common things that stalls families is fear of taxes, even when that fear isn’t fully understood. Today’s listener question is about an inherited home and hesitant siblings.
Think Medicare is free once you hit 65? Not quite. If your income’s too high, there’s a hidden surcharge that can quietly shrink your Social Security check by thousands a year. It’s called IRMAA. And most people don’t see it coming. Let’s break down who’s impacted and how to avoid it.
