Manage taxes and keep more of your money

Taxes can become much more complicated in retirement.

For many people, the tax situation while we are working is relatively simple. Income taxes are withheld from our paychecks by our employer. We may also pay capital gains or taxes on dividends in our investment accounts. 

In retirement, our income sources may expand to include social security, pensions, annuities, investments, CDs, IRAs and Roth IRAs, rental properties and part time work.  Many of these sources are taxed at different tax rates while some aren't taxed at all. Each year you'll need to determine which of these sources are taxable, estimate the taxes due and either set up withholdings from each source or pay estimated taxes. 

We can help you understand your taxes and work with your tax advisor to make sure you're taking advantage of every tax strategy to keep your taxes low. Don't have a tax advisor?  We're happy to help with this as well by connecting you to one of our 'Strategic Partner" tax advisors.

We aim to keep your taxes low in retirement by using a number of strategies, including:

  • An annual analysis of your tax return
  • Annual Roth conversions
  • Coordinating and Planning your Income Streams to avoid "Tax Torpedoes" like the Medicare IRMAA,  AMT and the Medicare Surtax.
  • Asset Location and Tax Harvesting 
  • Charitable Giving Strategies like Qualified Charitable Contributions (QCD's) and deduction stacking

We work hard to stay up-to-date with the shifting tax laws to ensure you are taking advantage of every opportunity to keep your taxes low.