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The Borrelli Report

Retirement, made clear.

Plain-English deep dives on the decisions that quietly decide how much of your money you actually keep — written to be checked, not believed.

Retirement accounts

Roth, RMDs & Medicare

Conversion timing, required withdrawals, the IRMAA lookback, and what changes for a surviving spouse.

Start here — The Guide

You have an advisor. Do you have a retirement tax plan?

The full walk, in order: Roth timing, rising RMDs, the Medicare cliff, the survivor’s trap, the 10-year rule, and the five questions to ask before saying yes to anything.

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Retirement · State Taxes

Potentially one of the best retirement tax strategies out there: just move.

Nine states take nothing from your retirement income. Move before the conversions and RMDs start — and establish residency properly — and the state’s share can go to zero. The sequencing, and the audit traps.

Medicare

You converted this year. The bill lands in 2028.

The IRMAA two-year lookback, what counts as MAGI, and when Form SSA-44 can — and can’t — help.

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Filing Status

Same income. Half the brackets.

The widow’s penalty: what the survivor keeps, the three lines that cut in half, and why the joint-filing years are the window.

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Inheritance

Ten years to empty it — and a bill every year inside.

The 10-year rule, the 2024 annual-withdrawal surprise, who’s exempt, and why an inherited Roth plays by gentler rules.

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RMDs

Born in 1959? Congress gave you two RMD ages.

The SECURE 2.0 drafting glitch, the IRS fix, what the two-year gap is worth, and the April 1 trap inside the first year.

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Roth Rules

There are two Roth 5-year rules. Almost everyone conflates them.

One clock guards earnings from tax, another guards conversions from penalty — and after 59½, only one usually matters.

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Social Security

One withdrawal. Forty cents on the dollar.

The 2026 thresholds, the combined-income formula, and the phase-in math planners call the tax torpedo.

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New for 2025–2028

$6,000 off your taxes at 65 — until income takes it back.

The new senior deduction, the 6-cents-per-dollar phaseout, and the two big numbers it doesn’t touch.

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State Tax

Same conversion. Two states. Six figures apart.

A federal law from 1996 decides which state can tax your conversion — and it turns on where you live the day you convert.

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Inheritance

Same ten years. Two different inheritances.

Whose bracket pays the tax on your IRA — yours in the window, or your heir’s at peak salary?

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Conversion Math

Where the conversion tax comes from changes the result.

Pay it from inside the account and $76,000 of a $100,000 conversion reaches the Roth. Pay it from outside cash and all $100,000 does — same tax bill.

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Then see your own numbers.

Your brackets, your IRMAA headroom, your RMD clock — free, in about 3 minutes.

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Investment property

1031 exchanges & involuntary conversions

Two sections of the code, two sets of deadlines — and what a sale costs when neither one applies.

Real Estate · Exit Planning

Done being a landlord? You have five exits — not two.

Keep and delegate, exchange easier, exchange passive, sell and pay, or hold for the step-up — the honest menu, what each path costs, and why only one of them guarantees a tax bill.

Real Estate · 1031 Exchange

Boot: the part of your 1031 that stays taxable.

Keep $300,000 out of a $1,000,000 sale and the exchange survives — but that slice is taxed now. Cash boot vs. mortgage boot, the worked numbers, and the one-way netting rule that catches sellers at tax time.

Real Estate · 1031 Exchange

The reverse 1031: buy first, sell second.

Found the right replacement before you’ve listed? The parking arrangement that makes it legal, the 180-day hard stop, the financing catch — and when a well-planned forward exchange beats it.

Real Estate · Selling

The installment sale: spread the tax, carry the paper.

Take the money over years and the gain follows the payments — except for the depreciation the code pulls into year one. What the down payment decides, and what you take on as the lender.

Real Estate · Charitable

The charitable remainder trust: sell it without the tax bill.

The trust sells free of capital gains tax at that moment and pays you for life. What the payments are actually taxed as, why a mortgage usually ends it, and what your heirs give up.

Real Estate · 1031 Exchange

First 1031 exchange? Start with what it defers — and what it doesn’t.

What a 1031 exchange defers — capital gains tax, depreciation recapture, the 3.8% surtax, and state tax on top — plus the four requirements and a side-by-side of the same property sold two ways.

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Real Estate · 1031 Exchange

How to fill out a 1031 45-day identification form.

The three identification rules, the two unforgiving deadlines, what makes a notice valid — and a free fillable template.

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Real Estate · Section 1033

You lost the property. The IRS may still call it a gain.

Eminent domain, fire, flood: the settlement is measured against your depreciated basis, not what the property was worth. Section 1033, the clocks, and the refund window.

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Selling or exchanging a property this year?

A short briefing on the 45-day and 180-day clocks, what qualifies as replacement property, and the debt requirement most sellers miss. Free.

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