Retirees face unique challenges when managing their income, particularly when it comes to taxes. This article provides an overview of tax-related issues, from taxing Social Security to the new RMD rules and determining when to tap taxable and tax-advantaged accounts.
Stock market downturns can be rough on a portfolio’s bottom line, but selling losing investments may offer the potential to reduce an investor’s tax liability.
A tax credit and/or dependent-care flexible spending account might help offset some of the costs paid for a nanny, babysitter, day care, preschool, or day camp.
A balance sheet summarizes your assets and liabilities and reveals your net worth.