Articles for Retirement Tax

Inside Trump's brand new grift for billionaires
2 months, 4 weeks ago

Inside Trump's brand new grift for billionaires

Raw Story  

Back in 1982, Republicans and the Reagan administration determined that they needed to raise taxes on average working people to pay for part of the massive tax break they were giving billionaires. Reagan imposed income taxes on elderly people on their Social Security income, ended the tax deductibility of interest on car loans and credit cards, and ended the tax …

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Labour will hit elderly with ‘retirement tax’, claim Tories
7 months, 2 weeks ago

Labour will hit elderly with ‘retirement tax’, claim Tories

The Telegraph  

Labour would hit the elderly with a “retirement tax”, the Tories have claimed, after Rachel Reeves refused to match their plan to keep the state pension tax-free. Laura Trott, the Chief Secretary to the Treasury, said Labour’s stance would mean thousands of retirees being dragged into paying income tax from 2027. Rishi Sunak promised to raise the income tax threshold …

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The Secure Act 2.0 offers options for small businesses who want to offer retirement plans
10 months ago

The Secure Act 2.0 offers options for small businesses who want to offer retirement plans

Associated Press  

NEW YORK — Many small businesses don’t offer a retirement plan to employees, since it can be quite costly and complicated. But the Secure Act 2.0 passed by Congress in late 2022 and being slowly rolled out is designed to make it easier for small businesses to offer retirement plans. Also, there’s a tax credit for small businesses starting new …

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Section 80C limit is exhausted, how can I still save more tax?
2 years, 11 months ago

Section 80C limit is exhausted, how can I still save more tax?

Live Mint  

I am 33 years old and work for a large multi-national company. Investors can choose from seven pension fund managers and decide their own asset mix. While the NPS is a good way to save for retirement and reduce tax, keep in mind certain features of the scheme. The silver lining is that one’s income comes down after retirement so …

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To pay off the mortgage or top up super? There's no one answer, but these four questions can help you decide
3 years ago

To pay off the mortgage or top up super? There's no one answer, but these four questions can help you decide

ABC  

At a certain point in life, many wonder what's better: to pay off the home loan ASAP or top up your superannuation? If you're getting 8 per cent compound interest on super and paying only 3 per cent on your mortgage, building up super might seem a good option. If it's looking sparse — perhaps due to career breaks or …

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You too can reap the tax advantages of a Roth IRA
3 years, 6 months ago

You too can reap the tax advantages of a Roth IRA

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. THE ROTH IRA ADVANTAGE It’s not a coincidence that …

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Investing in PPF alone not enough for retirement savings
3 years, 7 months ago

Investing in PPF alone not enough for retirement savings

Live Mint  

NEW DELHI:Public Provident Fund is one of the best instruments available for retirement savings. Large-cap equity funds, for example, have given an average return of 11.92% over the past 10 years, according to data from Value Research. Suppose you invest Rs50,000 every year in PPF and the same amount in a large-cap fund for your retirement. Say, the average interest …

Ppf
Opinion | Find out how much you should save to retire comfortably, plan accordingly
4 years, 9 months ago

Opinion | Find out how much you should save to retire comfortably, plan accordingly

Live Mint  

Retirement calculators are too complex for most people to understand, and this complexity hides the inbuilt optimistic and incorrect assumptions that they make. The simple formula assumes that inflation is equal to investment returns, net of capital gains tax. The rationale The most important assumption in the formula is that over the couple’s remaining lifetime, inflation is equal to investment …

Retirement Inflation Money Capital Gains Tax Crore Retire Value