While it seems very scary, you actually have plenty of options for health insurance in retirement and it presents a huge tax planning opportunity.
The Retirement Income Roller Coaster
The Retirement Income Roller Coaster is a tax planning opportunity that I navigate for my clients. It is exactly as…
Net Unrealized Appreciation
Don’t sell your employer stock inside your 401(k) or roll over your account to an IRA without considering whether you will benefit from net unrealized appreciation (NUA).
Tax-Favored Portfolio Growth
Not all savings accounts are created equal. Since every type of account offers unique advantages, each account allocation should be tailored to benefit from those advantages.
Roth Conversion Strategies
A Roth IRA conversion is an extremely powerful tool that can be utilized to create income when you are at lower tax brackets in order to avoid creating income at future higher brackets. Essentially, they give you the ability to create income on your terms.
Capital Gain and Loss Harvesting
Recording a taxable loss to reduce current year taxes is a great strategy, but we never look at the converse — what about creating capital gains?
Planning for Social Security Taxation
Social Security taxation is one of the many reasons that one should create a tax efficient distribution plan that minimizes your lifetime tax burden.
Charitable Giving Strategies
If donating a significant portion of your wealth is important to you, then it’s wise to make a plan now.
Accessing money before 59 ½ has rules, but that should not stop you from retiring when you want to.
Tax Cuts and Jobs Act: Managing Deductions
Stacking deductions in one year and then taking the standard deduction in subsequent years may let you benefit from tax savings that you would have otherwise not been eligible for.