Tax Planning Strategies

Tax planning is one of the most powerful tools in your toolbox for retirement, but often is overlooked.  Retirement accounts for many families are their biggest or second biggest asset they own besides their house.  And with a traditional tax deferred retirement account like an IRA, 401K, or a 403B faces taxes in the future when withdrawals are made.  Delaying taxes can be a costly mistake!

Think about it for a minute, I assume you will be successful in the long-term when it comes to investing.  That means your traditional retirement account will have a larger balance and your tax bill could be higher.  In addition to that, tax rates are historically low.  Yet recently our government has spent a record amount of money.  So, in my opinion, tax rates could be much higher for many retirees in the future.

At America’s Retirement Headquarters, we help people like you understand the options available to try and minimize the amount of taxes you pay over your lifetime.  With our tax savers checklist, we look at options such as:

  • Should you be making Roth IRA or 401K contributions
  • Is a Roth IRA conversion a good strategy
  • How to optimize your strategy for tax efficient withdrawals
  • Evaluate potentially tax-free investment options
  • Charitable donations using required minimum distributions
  • Required minimum distributions at the age of 72 and older
  • Tax planning as part of a comprehensive estate plan
  • Tax deferred liability mitigation
  • Social Security income tax planning

Using the checklist, we then can work with an estate planning attorney and an accountant to help you develop a customized action plan to create strategies designed to minimize the amount of lifetime taxes you and your family will pay.

Everyone’s retirement is unique, which means everyone’s tax situation is unique, too. America’s Retirement Headquarters acts on your behalf so you can try and make the best decisions about your income tax planning, Social Security tax, retirement tax, and more!

Ready to get your Tax Road Map?  Let’s chat, 419-842-0550 or just complete the contact form below.  

Retirement Tax

Too many pre-retirees don’t factor in enough taxes for their retirement plans – an error that can fundamentally offset the rest of your life. Our team walks you through each tax planning step so you can make sure you have enough planned for taxes and you aren’t paying too much in retirement.

Social Security Tax

Despite what many people think, Social Security can be a tough thing to get right. How much you get depends on when you start taking it, which can bump you up into higher tax brackets if you’re not careful. Our team can help you develop a plan so you know exactly when you should take Social Security and how much to expect.

Schedule a time to get your Tax Road Map.

Michigan and Ohio Tax Planning Professionals

Complete form below to learn about how you can plan for taxes in retirement and to get your copy of the 2021 Tax Guide.

We collect your phone number through our contact information form, and with your consent we will send you text messages on a weekly basis if you’ve opted in. Reply STOP at any time to unsubscribe from text messages. We will never share your customer data with third parties for marketing or promotional purposes.