Broker Check

Minimizing Taxes During Retirement

March 16, 2016

Every dollar counts in retirement-which is why staying in the lowest possible tax bracket is so important. Unfortunately, doing so is increasingly tricky today because today’s narrower brackets leave little room for error.

The best way to avoid tax-bracket surprise is with annual and long-range planning. Long-range planning looks at your projected tax rates and how you can rearrange your sources of income to deliver more after-tax income. With annual planning, you’re seeking opportunities such as realizing capital losses to offset gains, taking advantage of high itemized deductions or funding specific tax-advantaged plans.

Reducing your tax liability by even a few hundred dollars a year can put you thousands of dollars ahead over the course of your retirement. Please reach out to us at (714) 634-8051 if you’re interested in discussing strategies to minimize taxes in retirement.