Tax strategies

The IRS is relaxing some rules to make pulling money from retirement plans easier after hurricanes Irma and Harvey, but clients should remember the taxes and penalties associated with withdrawals are unchanged,

The IRS is relaxing some rules to make pulling money from retirement plans easier after hurricanes Irma and Harvey, but clients should remember the taxes and penalties associated with withdrawals are unchanged,

Each pre-retiree couple is in a unique circumstance, and needs to account for their health and longevity, as well as their willingness and ability to work.

The Internal Revenue Service granted relief to those hit by the storm by making it easier for retirement plans to give loans and hardship distributions.

The agency will allow some Texas residents to file certain individual and business tax returns and make some tax payments as late as Jan. 31.

These two accounts are both funded with money that has already been taxed, but there are still important differences that clients need to know.

IRA investors should consider implementing a charitable lead annuity trust when converting some of their funds into Roth to mitigate the tax bite.

The withdrawals can be taken early in the year, late in the year or in installments throughout the year. Each approach has advantages to consider.

The withdrawals can be taken early in the year, late in the year or in installments throughout the year. Each approach has advantages to consider.

Surviving spouses will either receive their own Social Security benefit or the survivor's benefit, whichever is higher. But they also may get pushed to a higher tax bracket, which. in turn, could mean higher taxes on Social Security benefits.