Have you thought that you can deduct all losses from your residential rental property in the year when they occurred ?  You probably can't.  There can be a time in the future when you can benefit from losses but it depends on several factors which we cover in this podcast.Learn more on this topic at our website RetireCoast.com

Seniors get a large break on their tax liability thanks to a change in the law.  The standard deduction is very high and the tax tables are lower.Listen as we discuss some benefits to Seniors and how many will pay no federal taxes.  Visit our companion blog articles including:  Seniors Income Tax 2023 Deductions and how to File Now  and Seniors and Retirees Planning Income Tax Strategies for 2024As always, listen to our podcasts and read our blog articles located at RetireCoast.com

Just turned 72, consider something new.  You must start paying back the taxes that you have deferred over the years.  There is no truly free lunch as some would say.  What the government giveth the government takes away.The IRS has a table that tells you how long you are likely to live a your age.  They also tell you how to determine the amount they want each year which is based upon your age and the total in your funds.      The mandatory distribution only affects funds that were not taxed when earned.  IRA, SEP IRA, 401(k) etc. This podcast discusses what this is all about and who must comply, when, and how.  It also recommends that you visit our website RetireCoast.com and read our articles about filing your Senior 1040 form and another article about tax planning

Large trees near your house can destroy your sewer system, sidewalks, driveways, and your house foundation.Repair costs from tree root damage can be terrific.  You can prevent this from happening if you take action now.   Also, when you plant a new tree, there is a method to contain its future roots.  Listen to our podcast about this topic that affects many homeowners and can save you money.     Read our blog articles at Https://retirecoast.com  we have dozens of articles that are designed to help you improve the quality of your life.

No need to travel to New Orleans for Mardi Gras.  You can see it all here on the Mississippi Gulf Coast every year.  More than 20 parades are scheduled in all of the Coast cities from 12th Night (12 days after Christmas) through Fat Tuesday (the day before Ash Wednesday).Listen to our podcast then visit our website to see the latest about Mardi Gras including the parade schedule hereVisit our website to read some of our many blog articles about the Mississippi Gulf Coast, retirement, personal finance and more.

Do you want a judge or attorneys to decide what happens to your assets when you pass?  Your survivors may have no choice unless you take action now to create an estate plan.  Wow, "estate".  This does not mean you are rich, anything you own after passing is called an estate.Even if all you have is money in the bank when you pass, it's your money and you should decide in advance who gets it.  With proper planning, you can make sure your wishes are fulfilled.    Estate planning involves a will, trust, advanced health care directive, and more.   Learn in this podcast what those key elements are and how they are used.  Want more information about setting up an estate planning portfolio, contact Gerald Braddock Attorney at Law  Visit our website at RetireCoast.com and learn more about this and similar topics

Wondering what the biggest expense is?  Listen to this podcast and find out.  Learn how to manage expenses preparing for retirement.  What is the second largest expense?The more you know, the better you're planning for retirement.  Please visit our website at https://retirecoast.com  and read more about retirement and life style.

The month of November is jam-packed with events.  The Mississippi Gulf Coast is famous for its many cultural events held on a continuous basis.  Every city on the Mississippi Gulf Coast hosts a large variety of events during the year but November is one of the most popular months due in part to the mild weather and the fact that winter has already set up in the Northern states and Canada.Listen while we take you through just some of the events that occur in November.  Visit our website at RetireCoast.com  https://retirecoast.com  read about other large events and add them to your calendar for the future.

That's right.  All of those benefits including lower taxes that came from the 2017 changes to the federal tax code are scheduled to revert back at the end of 2025.  Unless, congress and the president do something about it.That doubling of the standard deduction, it will go away.  The lowering of tax brackets, back to the old higher tax brackets and much more.  Benefits for small business will be gone.Assuming that our dysfunctional government will not rise to the challenge, you need to take some actions with your CPA and financial advisor to put your financial house in order.  There are things you can do to minimize the impact of the roll back.  Listen as we discuss the topic.Please visit our blog site at RetireCoast.com to read more about this and other topics in the areas of financial health, retirement real estate and more.

Everyone wanted to own a vacation rental property a few years ago.  The new trend is to put that property on the market while you still have some equity to save.  Listen while we discuss the overall vacation/short-term rental market and what is going on now and how the future is shaping up.  There are options if you purchased a vacation rental property and your income has dropped 50% or more.  Don't just sit there and worry, take action.  This podcast can help you understand what to do.Please visit our blog site at RetireCoast.com and read about this topic and more about personal finance, wealth building and retirement among many topics.

There is no need to pay more in income taxes than is absolutely necessary.  Good planning can avoid paying any federal income taxes on your 401k withdrawals or at worst, paying a much lower percentage.Retired persons earn lower income and much of Social Security income is not taxable.  This allows retired persons to earn more meaning add to your earnings deductions from your 401k.  Listen as we discuss how to drain that 401k and pay as little in federal income tax as possible.Please visit RetireCoast.com to learn more about retirement, personal finance and life stuff.

Have you thought about what you would do when you retire?  How about making some money on your own schedule?  This podcast explores just three examples of small businesses that can be created with little capital.  Basically your knowledge and effort.We explore the whole idea of having fun, making money, and still not giving up on your retirement dreams.  It's about keeping your mind busy.  Please visit our website RetireCoast.com and read some of our articles about starting small businesses in retirement.   Read this article https://keyladder.com/best-free-guide-to-your-vacation-rental-cleaning-business/ about starting a vacation rental cleaning business.  Even if you are not interested you will learn what's necessary to start a small business.   Check back on our podcast, there will be more on this topic.

A little patriotic talk about how we got here.  Those 58 men who signed the Declaration of Independence in 1776 and the millions of people trying to get into this country as a result of what they created.It's time that we recognize how we got here and that we owe those 58 men and the thousands of men and women who sacrificed in various wars to keep us safe and protect the idea that was started in the 1700s.The Mississippi Gulf Coast has many Independence Day events, most cities and many non-profits join in to provide fireworks, music, and fun.  Read our complete article on this topic RetireCoast.com  titled: Best July 4th Guide to the Mississippi Gulf Coast

Two reasons to avoid buying a new RV.  First, most new RVs need to spend time in the shop within the first year or two of purchase.  In some cases, lots of time in the shop.  Second, you can save a considerable sum by buying a low-mileage used RV.Take it from someone who knows, resist the urge to buy that new RV.  The last thing you want is to take a vacation and have things go wrong.  A used RV will generally have had all of the issues repaired.Want to know more, listen to this podcast from a person who has been there and done that.  Visit our website and read our articles at RetireCoast.Com

Buy that Sams Club fishing shirt instead of the brand name at twice the price.  Why would you do that?  This is a step towards planning for retirement.  The time when just because you can buy the more expensive shirt maybe you don't.  Put the difference in your retirement account.Just because you have a great salary and can buy that BMW, why not buy the Buick or Chevrolet?     Either vehicle will get you from point A to B.  Both look nice but one is substantially less expensive.  Another contribution is your retirement fund.It may be a time in your life to consider what you need rather than what you want.  This is not to say you never buy what you want but it's a transition period.  That Sams Club shirt is nice, it does the job but it does not have the name brand label.  Perhaps you no longer have to consider what your friends and neighbors will think if you buy a Ford rather than a Mercedes.     This is how the discipline of retirement planning starts.  Listen to this podcast and visit our website to read more about retirement at RetireCoast.com   Read our series on Generation X 20 Years to Retirement

You have about 20 years to retire.  No need to worry as long as you start the planning process now.  Our series on Generation X 20 Years to Retirement will help you.  Our budget planning tool is a key element in this series.This episode discusses the importance of accurate planning to include your expenses and income.  You will probably need to start making some living adjustments now if the numbers do not match.  If they do, great.  Please visit our website RetireCoast.com to read our blog articles on various aspects of Gen-X retirement.

Your 401(k) plan is under assault by those whose political agenda is not aligned with your best interests.  401(k) plans are designed to be the bedrock of retirement security.  Investments should be the best and safest available.A big push by progressives to achieve their social and green agenda is to deprive companies of funds to invest and grow.  They want to divert your 401(k) funds to other investments that will cost more and yield less.This podcast is supported by an extensive blog article on the topic.  You must learn about this insidious effort to undermine your retirement security.  Please visit our website at:RetireCoast.com

Learn how to avoid the mistake that millions have made, robbing your future self.    Listen as we discuss the reasons why using your 401(k) plan as a piggy bank is a terrible idea.  This podcast supports an in-depth article posted on RetireCoast.com with the same title.    This is one of many articles on retirement providing information that is not generally known or understood. Please visit our blog site RetireCoast.com and learn more.

Did you know that there is a new IRS form just for seniors?  This form will simplify your filing, you probably do not need professional help anymore.  The 2017 tax laws changed dramatically making it easier to file.Listen as we explain the new process.  Visit our Utube site RetireCoast.com and watch our video on the form where we go through it step by step.Visit RetireCoast.com and read about this topic, view the forms and use the link to our Utube video.

People who own houses will retire far better than those who have rented most of their lives.  This is a fact.   This podcast discusses why this is true for most people and what you can do about it.  Visit RetireCoast.com website and read more about retirement and similar topics.