Retirement & Tax Planning

We are able to assist in the planning for retirement by reviewing and developing an income strategy that will maximize your income while keeping your tax liability as low as possible. We will help in deciding when to take your social security income as well as distributions from IRA and 401K monies. In addition to planning the tax strategies in retirement we often extend that plan for estate planning. Many strategies include conversions of IRA monies into Roth IRA for the benefit of tax-free earnings for future use either by the taxpayers or their beneficiaries. While our suggestions may work for one taxpayer, they may be totally different for another. This is due to the fact that every taxpayer has unique scenarios and each situation is different. One key fact some taxpayers are not aware of is that social security benefits can be taxable and if not planned for you can end up with a significant tax liability in the year that you start to receive your benefits.