jump to navigation

Taxes and Retirement Income December 3, 2012

Posted by shaferfinancial in Finance.
Tags: , ,
trackback

If Congress does nothing this month here are the changes coming down the pike to taxes:

The top two income tax rates are scheduled to increase from 33% and 35% to 36% and 39.6 %, respectively.
The payroll tax is set to expire and go back to 6.2% from 4.2%.
Long term capital gains rates will go from 15% to 18% – 20%.
Currently taxed at 15%, qualified dividend income is scheduled to increase to the taxpayer’s regular income tax rate.

Fortunately, I had thought through taxes and have structured my accounts so this only gives me a slight increase in taxes from dividend income.

Money in my EIUL or any money I might take out is not taxed.
Berkshire Hathaway investment does not pay dividends so no tax increase at this time.
I do have some dividend paying stock that will incur a tax increase.

Does your retirement strategy take into account taxation?

About these ads

Comments»

1. tax prep - December 28, 2013

With havin so much content and articles do you ever run
into any problems of plagorism or copyright infringement?
My website has a lot of unique content I’ve either authored myself or outsourced
but it seems a lot of it is popping it up all over the web without my permission.

Do you know any techniques to help stop content from being ripped off?

I’d truly appreciate it.

shaferfinancial - January 1, 2014

Once you put it out there, it is there for the taking. Just hope some folks come to the real source instead of those ripping off your intellectual property.

2. Are your stocks paying a special dividend to avoid taxes? | The Wealth Building Society - March 30, 2014

[…] risk of Congress not reaching a deal over the so-called “fiscal cliff” and thus seeing tax rates go up on January 1st. This especially extends to taxes on dividends. Right now, unsheltered dividend income is taxed at […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 36 other followers

%d bloggers like this: