PODCAST: Taxes on Retirees -- What’s New
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Links and resources mentioned in this episode:
- 12 Ways the Biden Stimulus Package Could Put (or Keep) Money in Your Pocket
- Third Stimulus Check Update: When Could We Get Another Stimulus Check?
- Kiplinger's State-by-State Guide to Taxes on Retirees
- Got an Invention? Don’t Fall for These Patent Scams
- FTC Consumer Information on Invention Promotion Firms
- U.S. Patent and Trademark Office Information on Invention Promotion Firms, Promoters
Transcript:
David Muhlbaum: Retirement, for many, it's a moving target. Not just the question of when to take it, but where to take it. For years, the Kiplinger retiree tax map has been a resource for people trying to judge which states will take the smallest bite of their income in retirement. Rocky Mengle, Kiplinger senior tax editor, joins us to talk about what's new with the map this year. Also, President-elect Biden has big stimulus plans and have you invented the better mouse trap while stuck at home? Be careful if you play the patent game. That's all coming up on this episode of Your Money's Worth.
David Muhlbaum: Welcome to Your Money's Worth. I'm kiplinger.com's senior editor David Muhlbaum. I'm joined by senior editor Sandy Block. Sandy, how are you doing?
Sandy Block: Doing great.
David Muhlbaum: Our guest today for the main segment is kiplinger.com's senior tax editor Rocky Mengle. But he's also been tracking every jot and tittle of the stimulus drama that's been playing out in Washington over the past month. So we've dragged him in a little bit early to talk about that as well. Welcome, Rocky, and thanks.
Rocky Mengle: Oh, you're welcome. I'm pretty busy lately.
David Muhlbaum: Yeah. And before Sandy asked the question, which I know she's itching to do, I want to get through a definitional thing. That is what we're even talking about when we say stimulus now. Last year, we had the CARES Act and other big measures in the spring when COVID first broke out. And then at the very end of the year, we have the will they won't they drama of the second stimulus, the one that generated the current round of $600 checks.
And now we have President-elect Biden's American Rescue Plan, which is going to end up being shorthanded as the Biden stimulus. But that's in part because at this point, it's just a proposal. Now by making these proposals, he's taking a more active role than his predecessor in saying do this, not that. But Congress, I mean, they still have to come along.
Yeah, they do. And I know Rocky will give us some
