One Key RMD Rule to Know, Best Tax States for Middle-Class Families? New FSA and HSA Limits for 2024

Best States for Middle-Class Families Who Hate Paying Taxes | Will SCOTUS Strike Down Wealth Taxes? | One Key Rule to Understand Your 2023 RMD Created for {EMAIL} | [Web Version]( December 10, 2023 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Youtube]( [Tax Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] State Taxes [] [Best States for Middle-Class Families Who Hate Paying Taxes]( Best States for Middle-Class Families Who Hate Paying Taxes If you're someone who doesn't enjoy paying taxes, you are not alone. Whether you consider yourself part of the middle class or not, most of us want to keep more of our hard-earned income. With that in mind, if you're relocating, consider one of the best states for middle-class families. These states have a relatively low tax burden, which can help you keep more of your money. After all, isn’t the cost of living for families already high enough?[Here are ten places to think about](. [] In the News [] [Will SCOTUS Strike Down Wealth Taxes?]( [Will SCOTUS Strike Down Wealth Taxes?]( (Getty Images) You may have heard that income taxes recently made their way to the U.S. Supreme Court. On December 5th, the justices heard oral arguments in Moore v. U.S., which is about a tax on unrealized gains. The case could have significant implications for how Congress taxes wealth, depending on how the court rules. The decision is expected to be released this summer. Meanwhile, it's good to [know the legal aspects of this case and how the ruling could impact the constitutionality of wealth taxes](. [An IRA You Can Feel Good About]( Learn how your investments can help generate positive, measurable environmental and social impact alongside a financial return. [Get Started]( [LEARN MORE]( ADVERTISEMENT [] Taxes in Retirement [] [One Key Rule to Understand Your 2023 RMD]( [One Key Rule to Understand Your 2023 RMD]( (Getty Images) Recent retirement savings legislation like the SECURE 2.0 Act has caused a lot of confusion about when people need to take required minimum distributions (RMDs). However, there is a relatively straightforward guideline for 2023 RMDs based on your birth year. [Here's what you need to know to simplify your retirement distributions for the 2023 tax year](. 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]( [] Tax Planning [] [Inherited an IRA? Four Things To Know]( If you have inherited an IRA, it is crucial to understand the type of account involved and the details of the original account holder. This information will help you determine your tax liability and plan for income tax consequences. Also, recent changes in rules and delays involving required minimum distributions (RMDs) make it even more important for inherited IRA beneficiaries to be aware of several key tax considerations. Here are four things every IRA beneficiary should know. [Read More]( [Monitor Your Retirement Investments in Real-Time]( Compare scenarios to see what impact today's changes could have on your retirement tomorrow. [READ MORE]( ADVERTISEMENT [] In Case You Missed It [] [How Much You Can Contribute to Your FSA and HSA in 2024]( Medical savings accounts like HSAs or FSAs offer tax-free payment options for healthcare expenses. However, there are yearly contribution limits, and the IRS has recently announced the limits for 2024, which have been adjusted for inflation. How much more can you contribute next year? [Find Out Here]( [7 Secrets to Know About Hiring a Financial Advisor]( Choosing a financial advisor is a major life decision that can determine your financial trajectory for years to come. Be aware of these 7 secrets comfortable retirees know about hiring an advisor, so you can find peace of mind and potentially avoid years of stress. [LEARN MORE]( ADVERTISEMENT [] STOP OVERPAYING ON YOUR TAXES [] [STOP OVERPAYING ON YOUR TAXES]( (Kiplinger) 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. 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