Retirement Savings | 2009 Taxes

Category Archives: Retirement Savings

Are Social Security Benefits Taxable?

February 26, 2010 – 1:52 pm

Marital status and your annual income are the two deciding factors in determining how much of your Social Security Benefits are taxable. The really good news is that Social Security Benefits are not taxable if they are your only income for the tax year. And since your only income is not taxable, filing a return with the IRS is not necessary. Two great advantages.

By Steve | Also posted in Tax Preparation, Uncategorized, tax credits, tax returns | Tagged non-taxable, social security, social security benefits, taxable | Comments (1)

Don’t Take Your Losses!

March 10, 2009 – 3:36 am

Many people have been troubled by the impact of the financial crisis on their savings. If you are retired, you probably know that there is an annual minimum distribution that you are required to take from your IRA if you are 70-1/2 or older, that is, you must take money out every year, or you are penalized on the funds.