RETIREES: WATCH OUT FOR TAXES

If you’re near retirement, you may be looking forward to the day when taxes get simpler. You could be disappointed. “The tax return changes drastically when you go from a working mode to a retired mode,” says Ed Phelps, an IRA expert from Miami. Of course, everyone’s tax situation is different, but here are some tax issues you may encounter and ways to lessen their impact. Deductions may disappear If your children are grown and your house is…

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