Tag: Tax Strategies

Opinion: Taxes in retirement: What happens after your husband or wife dies

One of the most common retirement tax planning errors I see is specific to married couples: not accounting for the tax changes that will occur...

I received a financial gift from my mother. I returned it to her 5 years ago. Now that we’re divorcing, my husband says half of that money belonged to him

Dear Moneyist, I received a gift from my mother several years ago. She transferred a substantial amount of money into a bank account under my...

I didn’t receive a $1,200 stimulus check during the first surge of COVID-19. Will I get a $600 check this time around?

I was married and didn’t qualify for the $1,200 stimulus check based on my 2018 tax returns. I am now divorced and filed my 2019...

Can Trump write off $70K in haircuts? IRS allows tax deductions for highly unusual expenses — including fertility treatment, vasectomies and rehab

The Internal Revenue Service is not as punitive on tax write-offs as some people might think. President Donald Trump paid just $750 in federal taxes...

Should we rethink how we tax Social Security benefits?

Taxation of retirement income is an important issue. People with significant 401(k) holdings are going to owe the government a meaningful portion of their pile...