Tag: Tax Strategies

How Social Security Gets Taxed: What You Need to Know (Ep. 54)

How Social Security Gets Taxed: What You Need to Know (Ep. 54)

Most people think Social Security is straightforward—until taxes show up.

The truth is, what you don’t know about how your benefits are taxed can cost you more than you expect.

In this episode, I explain how Social Security gets taxed and why it hits harder for women filing single later in life. I break down the tax torpedo, walk through real examples, and share strategies to help you keep more of your income in retirement.

Key points:

  • What provisional income is and how it determines whether Social Security benefits are taxable
  • How even tax-free income sources like municipal bonds can increase Social Security taxation
  • The “Social Security tax torpedo” and how small withdrawals can trigger significantly higher taxes
  • Why Roth IRAs and strategic withdrawal planning can reduce the overall tax impact
  • The importance of early preparation, especially for women who may file as single in later retirement
  • And more!

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I Have Inherited an IRA—Now What? 5 Steps to Avoid Costly Mistakes (Ep. 52)

I Have Inherited an IRA—Now What? 5 Steps to Avoid Costly Mistakes (Ep. 52)

Inheriting an IRA can feel like stepping into a financial minefield — but with the right guidance, you can avoid costly mistakes and make the most of your legacy.

How do you know which rules apply? What if you miss a critical tax deadline? What should you do first?

In this episode, I break down the five essential steps every woman should take after inheriting an IRA. I explain how the Secure Act changed the rules, when required distributions apply, and how to think about taxes and investment strategy.

Topics covered:

  • How to determine if you’re a spousal or non-spousal beneficiary
  • The importance of knowing your IRA type: Traditional vs. Roth
  • Required distributions and understanding the fine print of the 10-year rule
  • Tailoring investment strategies to your individual needs post-inheritance
  • Tips for tax-efficient distribution strategies, including qualified charitable distributions
  • And more!

Resources:

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