Tax Planning: Keep More of What You’ve Earned

Tax planning is a core part of managing your financial life and retirement. It goes beyond simply filing your annual return — it’s about making thoughtful, proactive decisions throughout the year to help minimize your tax liability, improve your cash flow, and align your financial choices with the goals that matter to you.

Why Tax Planning Matters

Taxes touch nearly every financial decision you make — from how you save and invest to how you withdraw income in retirement. Without intentional planning, taxes can silently erode your wealth and reduce the income available to support your lifestyle. A solid tax strategy helps you:

• Lower your tax bill over time
• Improve retirement income efficiency
• Retain more of your investment returns
• Reduce unexpected tax surprises
• Coordinate tax impacts with your broader financial goals

As you approach or enter retirement, taxes continue to play a major role in your overall cash flow and financial security. Our goal is to keep taxes low today and in retirement.  Some of the things that we consider:

• How different income sources are taxed – Social Security, pensions, and investment accounts all have unique tax rules.
• Roth conversions – Converting traditional accounts to Roth accounts in certain years may reduce future tax burdens and increase tax-free income opportunities.
• Required Minimum Distributions – Starting at age 73 (for many), RMDs can push you into higher tax brackets unless planned for in advance.
• Annual Tax Return Analysis (Sample)
• Use of Tax-Advantaged Accounts – Diversifying the tax treatment of your retirement funds gives you greater flexibility in retirement.

These are some of the tax planning things that we consider.  They are most effective when integrated into a broader retirement and investment strategy rather than considered in isolation.

A Collaborative, Forward-Looking Approach

Effective tax planning isn’t something you save for the last minute. It requires ongoing evaluation and thoughtful coordination with your financial plan. We can coordinate this with your CPA or we consult with the CPA that is in our office

If You Want to learn more about lowering your tax bill in retirement? Click here to get your Free Retirement Assessment.