Income taxes are a major consideration in a retirement plan. After all, it’s not what you have but what you can keep that matters. Here are some examples of how we help you manage income taxes during retirement:
- Ensure that you fill up the lower rate tax brackets with income
- Use Roth conversion opportunities to create accounts that are tax free in the future
- Understand the tax effect of investment decisions before action is taken
- Farm losses from taxable accounts to offset current taxable gains
- Provide income from accounts with different tax characteristics in a way that reduces the amount of income tax due
- Manage the required withdrawals from IRAs, 401ks and inherited accounts to avoid tax penalties
