Jonathan Clements suggests four strategies for those who are close to retirement.
Minnesota is among 13 states that slap some kind of tax on Social Security income. Some of those states, among them Connecticut and Montana, have separate calculations and/or income limits to determine taxable benefits.
About 70% of all taxpayers are eligible for free federal income-tax-preparation and electronic-filing software through a program known as ‘Free File.’
Weekend Investor: So-called incomplete nongrantor trusts are attracting some investors in high-tax states. One such state has already cracked down on their use.