The Retirement Tax Podcast

There are a lot of things to think about as the year comes to a close—things that could make your taxes easier or more complicated. In today's episode, Ben and Steven share their insight on how to get ready for the year-end when it comes to tax planning. You will hear about shadow taxes and other areas that will affect your end-of-year finances and tax decisions. Listen in as Steven and Ben discus...

Thinking about taxes isn't the most fun thing in the world, and most people like to put off all thoughts of it until February or later. In this episode, Steven and Ben weigh in on why they think it's so important to do your tax planning before the end of the year. Listen in to get the scoop on how you can make the best decisions for your money and goals well before the new year. You can find all s...

Have you been reading about the mega backdoor Roth in articles or seeing it gracing headlines frequently? In this episode, Ben and Steven will be sitting down to chat about what all the hubbub is about and where you should probably be looking when aiming to max out your contributions. They give simple, actionable ways you can contribute more and how to best contribute. You can find all show notes...

Like anything in life, taxes are just one piece of the puzzle. So today, Ben and Steven will be talking about some things that are not directly tax related, tackling the topic of gifting to family and some of the numbers involved, as well as tax rules that may come into play. You will get a solid framework to help handle the logistics so you're prepared if/when taxes come into it. You can find all...

The Inflation Reduction Act has been passed—so are 87,000 IRS agents going to kick down our doors, steal our dogs, and take away our birthdays? Steven and Ben sit down to answer this question and—more importantly—they discuss what is actually in this act and what will be passing into law. You will hear why $80 billion is going to IRS enforcement, what else is in the bill, and what this all means f...

After one year of talking about taxes and how they relate to people's lives, Ben and Steven are celebrating today by sharing the important gift of knowing how to read paperwork from the IRS . Reading tax documents and deciphering what the heck they mean is a common frustration among taxpayers, so in this episode, the guys offer great tips on what to pay attention to, where to look, and what to loo...

Spending money on your health tends to be less than pleasant, but if we can get some tax savings from it, maybe we can save some money and find the silver lining. Many people ask about HSAs, so in this episode, Ben and Steven address the tax advantages of having an HSA and how to make the best use of one. You can find all show notes for this episode at: https://bit.ly/3PqtNPi  

What do you do when you get a letter or a phone call from the IRS? Don't panic. In this episode, Steven and Ben clarify some important things about IRS communications and responsibilities. You will walk away from this podcast knowing how to avoid scams, what to find clarity on when you get a letter, who to call for help, and more. You can find all show notes for this episode at: https://bit.ly/3ok...

In this episode, Ben and Steven tackle some key questions that have come up while doing clients' taxes. Many questions that come up are initially answered with, "It depends," and they'll unpack why that is and where to go from there. You will get insight into some specific situations, as well as the process used to make decisions that take your unique situation into mind. You can find all show not...

What are the things we should be thinking about as the market turns downward? Ben and Steven take on this question from a tax perspective and share some of the most important things to be paying attention to. They also give us some great insight into the tax silver linings that make the downturn sting a bit less. You can find all show notes for this episode at: https://bit.ly/3OUW7cJ  

So you've gotten your tax return and gone through the stress and struggle of processing the paperwork, but now you have a bunch of numbers—and you may or may not know what they mean. This episode is all about understanding what's on your tax return and how to use that information to create an effective plan for the next year and beyond. You can find all show notes for this episode at: https://bit....

When you're new to retirement, there are quite a few things that change. Multiple times this past tax season, there have been questions about paying taxes in retirement from clients who are moving into (or recently moved into) the retirement stage of life. Today, Ben and Steven share some of the most important things to remember in this transition, as well as how to plan ahead so you are setting y...

Required Minimum Distributions (RMDs) are extremely important to retirement tax because it helps dictate how much retirement tax we pay. Unfortunately, this is one of the easiest things to ignore so Ben and Steven will be sharing insight into how to navigate RMDs. They also discuss some of the changes that have been happening over the last couple of years and how they will affect your taxes. You c...

Inheriting an IRA is a situation that comes up with quite a few clients and, most likely, a situation that has or will happen to you. In this episode, Ben and Steven share some key insight into the complexities and must-know aspects of inheriting an IRA. They share the changes in how IRA inheritances work and highlight important ways that you can make it work out much more in your favor. You can f...

In today's episode, Ben and Steven talk about real-life situations from tax season and lay out the most important points to take away from how they were navigated. You will hear about common questions that came up, as well as how the guys were able to educate clients and help them throughout tax season. You can find all show notes for this episode at: https://bit.ly/36YaZqq

We've filed our tax return, so what do we do now with that brand new, shiny information? In this episode, Ben and Steven discuss how you can use the information from your tax returns to ensure better retirement outcomes. You will also hear about the first steps to take after filing your return, what to focus on moving forward, important things to know, and much more. You can find all show notes fo...

Capital gains tax rates have been the subject of multiple questions coming in lately, so today Steven and Ben will be sharing tips and insight to help clear up any confusion. From the seemingly tricky parts of selling stock to where people often slip up, you'll hear about the areas where you really need to pay attention and do some planning when it comes to capital gains. You can find all show not...

Every retiree will have to make some big decisions about Social Security. So today, Steven and Ben dive into some important information about Social Security, a benefit that has an impact on almost everybody. In this episode, you will learn about the taxability of Social Security, what kinds of important choices you can make in this area, and more. You can find all show notes for this episode at:...

Contrary to popular belief, the decisions made in retirement regarding taxes can get more complicated. Ben and Steven use this episode to chat about some of the important changes that may impact you in the future and share important insight into the world of post-retirement taxes—including key questions you should be asking in order to make it a bit easier. You can find all show notes for this epi...

There's not much fun that comes with the IRS, but it's pretty amusing to see the IRS put out something called The Dirty Dozen. In this episode, Ben and Steven talk about what this Dirty Dozen is and how it can help you avoid common scams and frauds. You'll hear about what to keep in mind this tax season, as well as what to look out for. You can find all show notes for this episode at: https://bit....

It's mid-January, but we're still a bit stuck in 2021 since taxes haven't been filed yet. Today's episode is all about how we can make sure to be ready for this upcoming tax-filing season. Ben and Steven go over some of the key ways to make sure you don't miss anything important, as well as what you can do to make your tax filing go smoothly. You can find all show notes for this episode at: https:...

April 15th is not the only important date to keep in mind when it comes to taxes. Although the calendar year has come to an end, there are planning opportunities you can still take advantage of now that 2021 is over. So, today, Ben and Steven share what areas can be reached into and still have some influence on your tax consequence. You can find all show notes for this episode at: https://bit.ly/3...

There's only one group of people who love acronyms more than accountants: the military. In this episode, Steven and Ben will be talking about acronyms (not IN acronyms) when it comes to tax qualified accounts to give you a better understanding of them, how to differentiate between them, and how to decide which ones to use. You can find all show notes for this episode at: https://bit.ly/3rFlu9S  

If you're wondering how you or your loved ones can be more charitable and more tax efficient, then don't miss today's show. Steven and Ben will be digging into this topic, outlining and explaining the various ways to give to your favorite charities in the most tax efficient way possible. You can find all show notes for this episode at: https://bit.ly/3r1EbV1

For many people, the best part of tax season is getting large deductions to lower their taxes. Yes, tax deductions are important, as they decrease your taxable income based on specific spending. However, despite this being a common topic, it is also very commonly misunderstood. So, in this episode, Benjamin and Steven will be sharing which tax reductions are really worth your time and effort so th...