Maximize your client's retirement dollars by taking full advantage of the many tax-reducing shelters, trusts, credits and deductions available only to retirees.
In this 32-page special report, Donald Korn, financial and tax adviser, puts his decades of tax code analysis to work for you. His advice can make the difference between a large refund and a crippling bill for your older clients.
Table of Contents:
PREPARE NOW FOR A LESS TAXING RETIREMENT
- Capitalize on Tax Cuts
- Build, Then Shelter Your Nest Egg
PART I: PLANNING FOR RETIREMENT
Qualified Plans: Good Mileage for Your Money
- 401(k)s: Fund 'Em to the Max
- Maximum Contribution Limits for 401(k)s
- Table 1: Amount to Put in a 401(k) Plan Monthly
- On Your Own: Keogh Options
- Keep It Simple With SEPs
- Twice As Simple
- Contribution Limits for SIMPLE Plans
- IRAs: Save Even More
- Maximum IRA Contribution Limits
- Table 2: IRA Deductibility for Active Participants (in 2003)
- Roth IRA Revolution
- Roth 401(k)s: Coming in 2006
- Following in Your Footsteps
- Countdown to Estate Tax Repeal
- Know How to Hold 'Em
- Get Liquid With Loans
- Early IRA Payouts
- Dealing With Distributions
- Stay Out of the Penalty Box
Nonqualified Plans: Alternate Avenues
- A Basic Blueprint
- Rabbi's Rules
- Safety First: Secular Trusts
- Bonus Points for Owners
- Annuities: The Waiting Game
- Shopping for a Deferred Annuity
- Upfront Bonuses and Long-Term Care
- Learn Before You Leap
More Routes to Savings
- Policy Matters
- Variable Life or Variable Annuity?
- CRTs: Sweet Charity
- CGAs: More Charitable Thoughts
- CRT Versus CGA
PART II: SHELTERING INCOME IN RETIREMENT
Trimming Your Tax Bill
- Table 3: What Part of Your Benefit Is Taxable?
- Normal Retirement Age Rising
- Shrink Your Income
- When to Start Collecting Benefits
- How to Take Your Lump Sum
- Rollover Roulette
- Withdrawals: Decisions, Decisions . . .
- Life Expectancy Table
Cashing in on Annuities
- Flexibility or Tax Savings?
- Split Annuities
- Lifeline to Safe Borrowing
Super Shelters for Retirement Income
- Tax Breaks With CRTs
- Inflating Income With CRTs
- Private Annuities: All in the Family
- Investment Property: Exchange, Don't Sell
Relocating: Research in Advance
- State Tax Rankings
- Estate and Inheritance Taxes by State
- Escape From Tax Traps
- The Artful Dodge
Home, Sweet-Equity Home
- Over-55 Exclusion Repealed
- Basis Buildup
- Recycle the Gain Exclusion
- Cashing In
- Finding a Lender
- Reverse Mortgage Basics
- Different Strokes: Sale Leasebacks
Afterword
Appendix I: For More Information
Appendix II: State Departments of Revenue
Expert tax advice from a retirement planning pro!
