Author: Mark
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A critique of the “Saver’s Credit”
Last week, the IRS “reminded low- and moderate-income taxpayers that they can save for retirement now and possibly earn a tax credit in 2025…” (IR 2024-298, 11/25/24) Which is true. But it’s not news and it’s not exciting. And if the goal is to increase the amount that middle-class Americans save for retirement, it’s also… Read more
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Use Qualified Charitable Distributions to Maximize Tax Savings
I was talking about Qualified Charitable Distributions (QCDs) to a new acquaintance the other day and was reminded again of how powerful a strategy this underutilized (imho) tax tool really is. The main requirements to benefit from QCDs are that you must be at least 70.5 years old at the end of the tax year,… Read more