Taxes

Tax efficient retirement planning requires thinking ahead. You can strategize your income, investments, and spending to reduce your tax burden.

Make choices to save into the right savings vehicles. Opt for pre-tax savings (traditional, SEP & Simple IRAs, 401ks, 403bs, 457s, 529s, HSAs, etc…) where you don’t pay taxes on the money you invest until you withdraw the funds in the future or after-tax savings (Roth IRAs and 401ks) are when you save money that has already been taxed.

You also want to consider how you can manipulate both income and spending to optimize your tax bracket.

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2026 Tax Brackets TCJA expiration

TCJA: Why Your Taxes Are Likely to Increase in 2026 and What to Do About It

Due to the the TCJA expiration, your 2026 tax brackets and rates will rise. Find out why and how to prepare for the increase.

June 13, 2024
roth conversion mistakes

15 Common Roth Conversion and Savings Mistakes People Make

There are a lot of potential Roth IRA mistakes to be made: 1) Not doing it, 2) Not knowing the rules, 3) Timing, 4) Poor planning, 5) Overlooking spouse… and more!

April 11, 2024
social security and taxes

What You Need to Know About Social Security and Taxes

Yes. You might pay taxes on Social Security. Learn what to expect (federal, state and work penalties) and explore ways to reduce the expense.

April 4, 2024
tax season checklist

Tax Season Checklist: 10 Essential Considerations to Review for Your 2023 Return

Are you “lucky” enough to have to worry about #3? Did you remember #5? Explore all 10 tips on this tax season checklist.

March 7, 2024
state taxes

Which Are the Most Tax Friendly States for Retirees 2024?

Are you in a tax friendly state for retirees? Explore the best states for taxes and review the income and sales tax rates in all 50 states.

February 29, 2024
Tax talk

Tax Talk Made Simple: A Useful Guide Tax Lingo and Strategies

Gain valuable insights into common tax terms and some of the most popular strategies for reducing what you pay.

February 8, 2024

Estimates for Your 2023 Data Are Now Available in the NewRetirement Planner

The NewRetirement Planner now shows an estimate for your 2023 year-end numbers. The 2023 values are available on all charts.

November 30, 2023
year end tax tips

12 Year-End Tax Planning Strategies to Keep More 2023 Money and Prepare for Future Wealth

These 12 year-end tax tips for retirement will help you minimize your 2023 taxes and reduce future tax bills.

November 2, 2023
agi adjusted gross income

AGI (Adjusted Gross Income): The Tax Acronym You Can’t Ignore

Gaining insight into your Adjusted Gross Income can pave the way for a prosperous and tax-smart financial future.

November 2, 2023
asset location

Asset Location: How Tax-Smart Investing Can Supercharge Your Portfolio

Asset location is an important concept if you are trying to save and build wealth. Explore ways to locate funds to minimize taxes.

October 26, 2023
Roth conversion strategies

How to Model Roth Conversion Strategies in the NewRetirement Planner

Get a guided walk through of the new Roth functionality and get tips for making the most of the tool. Plus explore all the ways we help you make better decisions about conversions and tax deferred savings.

October 18, 2023
529 savings plan

Is a 529 Plan Right for You? Tax and Estate Benefits Are Amplified for Certain Income Brackets

A 529 plan can be a tax advantaged way to fund education. However, the real benefits of these accounts are greater for some.

June 1, 2023
catch up contributions

A Powerful Retirement Saving Secret: Use Tax Advantaged Catch Up Contributions When Over 50

Catch up contributions are the IRS’s way of making it easier for savers age 50 and up to tuck away enough retirement savings.

May 10, 2023
what is a roth conversion

What is a Roth Conversion? Would Doing Conversions Benefit You?

Roth conversions are a hot topic. Let’s make sure that the basics are covered: Find out what they are, how they work, and when or how to use them.

March 22, 2023
retirement taxes

Go Beyond Tax Filing and Plan to Pay Less in the Future with These 25 Tax Planning Tips

Planning for the future should involve strategizing to minimize taxes. Explore 25 tips to help you plan, do retirement tax filings, and save money.

March 16, 2023

Early Retirement Income: 5 Ways to Make Penalty-Free Withdrawals from Your Retirement Accounts BEFORE You Turn 59.5

Retiring before 59.5? Discover how to make penalty free withdrawals from your retirement accounts to help fund your early retirement.

February 15, 2023
burton malkiel

Podcast: Burton Malkiel and “A Random Walk Down Wall Street” 50 Years Later

Professor Malkiel discusses the latest edition of his legendary book and some of the biggest lessons from his own life.

January 12, 2023
new rmd ages

New RMD Ages in 2023 and 2033: Immediately See the Impact on Your Retirement Income and Taxes

See the impact of new 2023 and 2033 RMD ages on your projected retirement plans. Your taxes, income, and Roth strategies may have changed.

December 29, 2022
Omnibus Spending Bill Secure Act 2.0

Big RMD Changes and 11 Other Retirement Planning Headlines from SECURE 2.0 and the Omnibus Spending Bill

There are big retirement planning changes with passage of the Omnibus Spending Bill, including the SECURE Act 2.0. See how you are impacted.

December 22, 2022
Qualified Charitable Distribution

How Making a Qualified Charitable Distribution (QCD) Can Save You Tax Money

(QCDs) are a way to help great causes and those in need, but they are also a way to manage your tax exposure and avoid unpleasant surprises. 

December 21, 2022

6 Strategies to Manage Required Minimum Distributions (RMDs)

Are RMDs desired income or a cost? Either way, preserve wealth with these 6 strategies for minimizing taxes on your withdrawals.

December 21, 2022

Why a Roth Conversion or Backdoor Roth IRA is a Good Idea Right Now

Doing a Roth conversion — also known as a “backdoor Roth IRA” – is perhaps still appealing in 2023. Why? Low 2023 tax rates. What is a Roth Conversion? Backdoor IRA? A Roth Conversion is when you convert money that you have in a traditional IRA to a Roth IRA. This is sometimes called a…

December 20, 2022

Avoid Unnecessary Taxation: 7 Easy Sources of Tax-Free Retirement Income

As a lifelong worker who paid their fair share of taxes, make sure you take advantage of these sources of tax-free retirement income.

August 25, 2022

10 Recent Economic Headlines and What They Mean for Your Money (Will Roth Conversions Be Scrapped?)

As summer ends and the economy continues to reopen, there has been a lot of significant economic news. Here are 10 recent headlines and what each of them means for your money. Some of these headlines report on events that have happened. Others are anticipating future events. Each may have a significant impact on your…

September 30, 2021

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