Episode 170: 5 Tax Strategies Every Retiree Should Be Using

Nate discusses 5 specific tax strategies to help retirees lower their overall lifetime tax liability, and gives examples of combining strategies to make an even bigger impact on your tax bottom line.

Disclosure: Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions.

Please remember that converting an employer plan account to a Roth IRA is a taxable event. Increased taxable income from the Roth IRA conversion may have several consequences including (but not limited to) a need for additional tax withholding or estimated tax payments, the loss of certain tax deductions and credits, and higher taxes on Social Security benefits and higher Medicare premiums. Be sure to consult with a qualified tax advisor before making any decisions regarding your IRA.

Tax loss harvesting is a complex tax strategy. Before making a decision, please consult with a qualified professional for guidance before making any purchasing decisions. Neither the firm nor its agents or representatives may give tax or legal advice.