Since you decide when to sell, you control when you will receive capital gains or report losses on your tax return. Postpone IRA distributions. In most cases it pays to keep assets in your IRA growing on a tax-deferred basis for as long as possible. Under the rules, which were issued last month, distributions are based on the assumption that your beneficiary is ten years younger than you are. If your spouse is your beneficiary and he or she is more than ten years younger than you are, the new rules let you spread out distributions even more.
Most readers probably itemize their deductions each year.
In the years you intend to itemize, make charitable contributions and pay for medical procedures not covered by Medicare or Medigap. Move to a No-Tax State Florida, Texas and Nevada, among others, do not impose a state income tax. If you sell your principal residence and move to another home, it will be eligible for preferential tax treatment once you've lived in it and owned it for at least two years in the five-year period leading up the sale. If you maintain two homes but wish to establish residency in the no-tax state, it's a good idea to title your car, register to vote, and set up your bank account in that state. Also make sure your estate plans comply with state law.