Tax Planning for Retirement Income
Tax Planning doesn’t stop at retirement. In fact, tax planning is important for optimizing retirement income – and it changes during all four stages of retirement.
Tax Planning doesn’t stop at retirement. In fact, tax planning is important for optimizing retirement income – and it changes during all four stages of retirement.
Looking for retirement security?
Government spending has been out of control for decades and Congress needs to raise revenue. So, they passed The SECURE (Setting Every Community Up for Retirement Enhancement) Act in December 2019. It may secure the government’s future; but, one provision may make your heir’s retirement a little less secure.
Expecting a big capital gains or other tax event this year? It might mean an unexpected tax surprise that can affect your Medicare premiums two years from now!
Tax traps are waiting. Did you it’s possible to be smack in the middle of the 22% tax bracket, yet taking an additional $1,000 in income could make that additional money taxable at 40%? It can happen to some taxpayers. In fact, there are other pitfalls many aren’t aware of, as well.
There may be times when a Roth conversion may be advantageous; but there are others when it may not be your best move.
What could those tax hikes look like? Let’s consider the possibilities.
Retirement Income Planning Gains Importance.
Rollover advice isn’t always straightforward – it’s often conflicted. There are issues you should address before you act.
RMDs are back for 2021! Make sure you don’t get his with penalties.
Do you know what a systematic Roth conversion is? It’s worth knowing!
Believe it or not, you’ll have a number of options available to you – and it pays to do your homework before making decisions that could be irrevocable – and costly.
Believe it or not, investing during working years was the easy part. Just keep accumulating! Even better, the money you put aside wasn’t taxable. Such a deal! Tax-delayed doesn’t mean tax-free however.