We consistently see individuals overlook opportunities to lower their tax-bill in the present and future. We also regularly see retirees getting caught in common tax traps as they begin the process of spending down their retirement savings. A good retirement plan is forward looking from a tax perspective.
Our tax planning services seek to minimize your tax bill in retirement via:
- Regular reviews of your tax return
- Assessing opportunities to convert pre-tax savings to after-tax accounts (Roth IRAs)
- Assessing opportunities to take capital gains in the 0% tax bracket
- Coordinating the timing of income streams around the lowest tax-brackets
- Charitable giving strategies (bunch donations and donor advised funds)
- Watching out for unintended taxation of Social Security and increased Medicare premiums.
We’re also constantly watching for changes in tax-law so we can adjust our recommendations accordingly.