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Steve Coker, CFP
- Feb 15, 2020
- 4 min
Downsizing your house in retirement
Downsizing your house in retirement can make a lot of sense, especially when you are looking for ways to make your retirement dollars go further. After all, the kids are likely out of the house, and having a large home with a big mortgage and expensive upkeep may not be the best use of your money. Of course, for those of us in California, it can also be tempting to move to a lower cost state in retirement, and many of my clients are doing just that. Before making the decis
Steve Coker, CFP
- Sep 23, 2019
- 3 min
4 Tax Benefits for California Retirees
It is popular to criticize California for its high taxes, and rightfully so. Californian’s enjoy one of the highest income tax rates, highest sales tax rates, highest fuel tax rates, and more, which is why many retirees choose to leave the state. Nonetheless, for those of us who choose to stay and retire here, there are a few tax laws that help ease the pain in a state where both costs and taxes are near the top. Here is a list of four tax benefits that can really matter f
Steve Coker, CFP
- Nov 5, 2018
- 2 min
Moving in Retirement? How to Keep Your California Property Tax Basis
There are a few excellent tax breaks for retirees in high tax California and Propositions 60 and 90 are two of the best. These laws allow property owners over the age of 55, subject to some restrictions, to sell their principal residence in California and transfer their Property Tax basis to a new home of equal or lesser value. Simply put, the laws provide a way for retirees to move to a new home without resetting their Prop 13 tax basis, potentially saving thousands of dol
