Use The Lower Brackets To Retire Tax Free

Deciding at what age to claim Social Security benefits may be the single most important retirement money decision of your life. Claim too early, and you lock in a lifetime of monthly payments that may be far lower than if you wait.

No one in the middle class was celebrating the 2 percent bump in taxes they'll be forking over under the new fiscal cliff deal. 

The Roth IRA is one of the most talked about and least understood financial tools.

Call it the supertax. It could be coming to a province near you, if you make enough money. Taxing the rich has become a popular tactic for political parties across the country and campaign fodder in more than one provincial election. But the wealthy have other ideas and are exploring tax shelters like never before, says Don Carson, partner in taxation at accounting and consultancy firm MNP LLP. As marginal rates go up, the Holy Grail of wealth management is to reduce taxable income.

You've prepped, organized and you're finally ready to file your federal income taxes. That is, except for one tiny little problem: you may be staring down a tax obligation that's a bit bigger than what's in your bank account. What now? You have options but not all of them are equally good. Here are seven ways to pay down your tax debt that may not pay off in the long run: Raid your retirement account.