The Tax Man Cometh, Again

There are a few things in life that seem to come up way quicker than many of us think they should.  Some of the items included on that list are things like dentist appointments and Tax Day.

As if the amount we pay in taxes isn’t bad enough, the whole preparation process of getting all the information together is no walk in the park either. If fear of the IRS has you devoting a bunch of time to the tax preparation process, think about what a stressful time of year it is for the CPA’s. They barely sleep or see their families for months on end during tax season.  Sorting through shoeboxes full of papers some people use as organizational system probably is not their idea of fun.

While taxes serve an important function in our society, overpaying them shouldn’t be your goal, especially when you no longer have an income.  One of the biggest expenses retirees face are taxes, and many of them are not paying enough attention to this very important line item.  The old adage of “it’s not what you make, it’s what you keep” perfectly describes the opposing forces of income and taxes.

When it comes to investing, and in particular, retirement planning, having a tax minimization strategy might be one of the single most important things you can do to help secure your financial independence.  That’s why we focus on tax-smart investment strategies when creating retirement plans.  We understand that it’s just as important to watch what’s going out the door, as it is to monitor what’s coming in. So, if you have questions about ways to minimize your tax burden in retirement, CLICK HERE to learn more about our process and be sure to request your no cost, no obligation review.  Helping you safely reach the goals you have for retirement is our top priority.

Remember when it comes to retirement planning, it’s just as important to keep an eye on your taxes as it is your investments, so make sure your plan was designed with a tax-smart investment strategy.