Inherited IRA Rules Have Changed, States That Cap Your Property Tax Bill, No More ERC Tax Credit Claims?

10 Most Tax-Friendly States for Retirees | IRS Says No New ERC Tax Credit Claims for 2023 | Inherited an IRA? Four Things Every Beneficiary Should Know Created for {EMAIL} | [Web Version]( October 1, 2023 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [Twitter]( [Youtube]( [Youtube]( [Tax Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] State Taxes [] [10 Most Tax-Friendly States for Retirees]( [10 Most Tax-Friendly States for Retirees]( (Getty Images) Choosing which state to retire to involves weighing many pros and cons. It also means taxes will likely cross your mind. Knowing which are the most tax-friendly states for retirees may help. Just keep in mind that no state has zero taxes. So, in states where some taxes are low, other taxes and fees may be high. [Check out our top ten ranking of states with the lowest retiree tax burdens](. [] In the News [] [IRS Says No New ERC Tax Credit Claims for 2023]( [IRS Says No New ERC Tax Credit Claims for 2023]( (Getty Images) An onslaught of ERC tax credit scams and fraud means significant changes for the ERC tax credit. To protect honest business owners, the IRS says it won’t process new employee retention credit claims for the foreseeable future. Here’s some information on what this immediate moratorium on new claims means. [What happens if you’ve already filed for the popular pandemic-era tax credit](? [Vanguard vs. Fidelity vs. Schwab]( Who are you partnered with? See how these popular brokerage firms stack up when it comes to fees, resources, and specific services, so you can decide on the right fit for you. [LEARN MORE]( ADVERTISEMENT [] Tax Planning [] [Inherited an IRA? Four Things Every Beneficiary Should Know]( [Inherited an IRA? Four Things Every Beneficiary Should Know]( (Getty Images) Inherited IRA beneficiaries should be aware of several important tax considerations — especially considering recent rule changes and delays involving required minimum distributions (RMDs). We summarize four things every beneficiary should know, from the 10-year rule and RMD delays to the SECURE 2.0 Act. There’s also information on how [details surrounding your inherited IRA and its original owner can impact your taxes and tax strategy](. Featured Content Sponsored Content from The Kiplinger Tax Letter [Stop Overpaying on Your Taxes.]( Get a [FREE ISSUE]( of The Kiplinger Tax Letter and never pay one cent more than necessary on your taxes, for yourself, your business, or your clients. Then save up to 58% off the cover price to subscribe, and get exclusive special issues such as New Tax Rules This Year, Year-End Tax Planning, or other topics. [CLICK HERE]( [] Property Taxes [] [Property Tax Cap: Does Your State Have One?]( Property taxes are a painful reality for many homeowners. But a property tax cap can help keep your property tax bill from increasing too much. These caps limit how much property taxes can increase from one period to the next. However, not all states have a property tax cap, and not all cap types are created equal. Here’s what you need to know no matter which state you live in. [Read More]( [5 Things You Want from Your Retirement Income Plan]( Here's what Go2Income plan holders say about their retirement income objectives: 1. Don't Run Out of Money 2. Grow Income Each Year 3. Leave a Legacy for Kids 4. Build a Reserve Fund for Unplanned Expenses 5. Increase Spendable Income by Reducing Taxes We can help you balance your objectives with a complimentary Go2Income plan [Order Your Plan]( ADVERTISEMENT [] Income Tax [] [ICYMI: What Are The Income Tax Brackets for 2023?]( Inflation-adjusted federal tax brackets mean you could end up in a higher or lower tax bracket each year, depending on your income. And, you could pay a different tax rate on your income one year than you did the year before or the year after. So, here are the tax brackets and federal income tax rates that go with them for the 2023 tax year. (We’ve also included 2022 brackets if you’re filing soon due to an Oct. 16. extension.) [Read More]( [How Much Should I (or my Student) Take Out in Student Loans]( How to strategically manage your debt and balance student loan repayment with other financial priorities. 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