3 Reasons Your Tax Burden Could Actually Increase In Retirement

Will your tax burden dramatically decrease in retirement once you stop receiving a paycheck? Maybe not – maybe it will increase. Between retirement account distributions, Social Security benefits, and investments, you may have reasons to review your tax strategy in retirement. We may be experiencing relatively low taxes right now, but the recent change in [...]

By |2021-03-01T12:56:13+00:00March 1st, 2021|Taxes|0 Comments

3 Ways Your Advisor Can Help You This Tax Season

As we enter this tax season, you may realize that your situation has changed. Maybe you were affected by the CARES Act, COVID, or went through a life change such as retirement, or became empty nesters. All of these things can affect how you file our taxes and now is the time to consider them. [...]

By |2021-02-22T01:13:43+00:00February 22nd, 2021|Financial Planning, Taxes|0 Comments

Concerned About Taxes On Your Retirement Account?

You might expect your tax burden to decrease in retirement – after all, you’re no longer receiving a paycheck that incurs income tax, the payroll tax, and Medicare tax. However, your income in retirement could be significant, between investment income, rental properties, pensions, Social Security, and retirement account withdrawals. Starting at age 72, you likely [...]

By |2021-02-01T01:23:20+00:00February 1st, 2021|Retirement Planning, Taxes|0 Comments

3 Reasons to Review Your Tax Strategy

Now that President Biden has been sworn in and the Senate is evenly split between Republicans and Democrats, it’s time to consider what tax policy changes could be coming. President Biden and Vice President Harris proposed several tax-increasing measures on the campaign trail, and it’s important to consider how they could affect you. Here are [...]

By |2021-01-25T13:18:40+00:00January 25th, 2021|Taxes|0 Comments

4 Things You Can Do By the End of the Year to Help Lower Your 2020 Tax Bill

Here come the holidays and everything that goes with them – traveling, cooking, buying gifts, and of course, spending time with the people we love. It’s a busy time of year when finances can take a back seat, but don’t wait to review your tax situation. Here are four things you can do by the [...]

By |2020-12-07T13:33:32+00:00December 7th, 2020|Taxes|0 Comments

How Will Social Security Benefits and Taxes Change Next Year?

The Social Security Administration recently made some important announcements that workers and retirees should note, including a Social Security benefit increase – and a tax increase. While it’s very unlikely that the program will ever disappear, we could see changes in the coming years due to the program's financial state. The Social Security trust fund [...]

By |2020-10-26T12:46:19+00:00October 26th, 2020|Financial Planning, Social Security, Taxes|0 Comments

3 Reasons Why Your Tax Burden Could Increase In Retirement

Most people assume that their tax burden will dramatically decrease in retirement once they stop receiving a paycheck, but this isn’t always true. A high tax bill is one retirement risk to be aware of and to try and mitigate. We may be experiencing relatively low taxes right now, but a change in leadership in [...]

By |2020-09-08T02:45:09+00:00September 8th, 2020|Taxes|0 Comments

Tax Minimization in 2020 and Beyond

As the coronavirus spread, the government stepped in with unprecedented economic interventions, from direct payments to Americans, to relief for businesses. While these measures may be necessary to mitigate the damage done by the virus and the economic shutdown, they’ve also resulted in a ballooning of the national deficit.[1] U.S. government debt could soon rise [...]

By |2020-06-09T16:53:32+00:00May 25th, 2020|Taxes|0 Comments
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