If you’re retired or approaching retirement, you’ve probably seen headlines asking whether President Trump will cut Social Security benefits, raise the retirement age, or eliminate taxes on benefits.
This guide lays out a clear 2026 tax calendar for retirees, highlights the most common “gotchas,” and gives you a practical framework to stay ahead—without turning retirement into a paperwork treadmill.
You’ve spent decades building wealth in your retirement accounts. But have you prepared for the government-mandated withdrawals that could force you to withdraw more than you need? If you’re approaching or already in retirement, you may be wondering how Required Minimum Distributions (RMDs) will affect your taxes, income, and long-term plan.
If you’re retired—or planning to retire soon—you’ve probably seen the headlines about the 2026 Social Security COLA and the Medicare Part B premium increase. You might even be trying to figure out what your real monthly increase will look like after everything is deducted.
If you’re planning for retirement, you’ve almost certainly encountered the 4% rule—the widely cited guideline suggesting you can safely withdraw 4% of your portfolio in your first year of retirement, adjust for inflation each year after, and expect your money to last 30 years. It’s simple. It’s memorable. And for many retirees today, it’s unnecessarily restrictive—or worse, potentially risky.
The Maryland Retirement Tax Elimination Act of 2022 represents a landmark victory for retirees across the state. Signed into law by Governor Larry Hogan, this legislation delivers the largest tax cut package in Maryland’s history specifically designed to benefit seniors and make Maryland more retirement-friendly.
The numbers tell a concerning story: Many surviving spouses see their household income drop by 25-50%, yet find themselves paying higher tax rates on what remains. Medicare premiums can spike by thousands of dollars. And Social Security income that once supported two people must now sustain one.
As a successful retiree or pre-retiree who has worked hard to build your wealth, you deserve to enjoy the fruits of your labor without unexpected Medicare costs eroding your retirement income. Yet many financially successful individuals are surprised when they discover that their Medicare premiums can be significantly higher due to IRMAA surcharges.
If you’re approaching retirement in Maryland with $1,000,000 or more saved, you’ve probably realized the game has changed. This isn’t about growing your portfolio anymore—it’s about making sure your money lasts 30+ years while minimizing taxes, optimizing Social Security, and navigating Medicare’s income-related premium surcharges.
If you’re charitably inclined and over age 70½, you may be overlooking one of retirement’s most powerful—and underused—tax planning strategies. A Qualified Charitable Distribution (QCD) allows you to donate directly from your IRA to charity, satisfying your required minimum distribution while keeping that money out of your taxable income entirely. For many retirees, this isn’t…