Modern Wealth Management’s Post

What does your taxable income look like heading into retirement? In a previous episode of America's Wealth Management Show, Chris Rett, CFP®, AIF® and Logan DeGraeve, CFP®, AIF® discussed how retirement income can be subject to several different taxes, and how you can navigate them. https://lnkd.in/gmdXKMwS #retirementplanning #taxes #financialplanning

Planning for retirement is exciting, but the tax implications can feel overwhelming. Nobody wants to hand over more of their hard-earned cash to the taxman than they have to, especially when planning for their golden years. But the good news is reducing your tax burden in retirement is achievable. Follow these 5 steps to minimize taxes on your retirement income:

What's even worse than high taxes now? Higher taxes in retirement! Our latest blog and video show how getting the right mix of Roth and traditional accounts can save you lots of money (and regret). Don't miss out—read now!

In this video, Matthew del Junco, President of Financial Planning and Senior Wealth Advisor at Liberty Group, uncovers the hidden tax traps that could threaten your retirement savings. Imagine stepping into retirement only to find higher taxes knocking at your door. Matthew reveals strategies to outsmart these traps and keep more money in your pocket. From potential tax bracket shifts to changes in deductions and Social Security taxation, he covers it all. Plus, learn how state tax variations and new taxes on the horizon could impact your retirement finances. https://hubs.li/Q02z6YM80 #RetirementPlanning #TaxSmartRetirement #TaxPlanning #LegislativeRisk #FinancialPlanning

Social Security is an important source of income for many retirees. Understanding how to maximize it is really important when creating retirement income. Equally important, is lowering your tax bill on the Social Security benefit so you can keep more of it in your pocket. Watch this video to learn how to avoid the tax torpedo when it comes to your Social Security benefit. #SocialSecurity #Taxtorpedo #retirementincomeplanning #Retirementplanning #MaximizeyourSocial Securityincome

Understanding Income Taxes On Other Types Of Retirement Income 90% of your FERS annuity is taxable as income along with 50% to 85% of your Social Security and 100% of your distributions from your traditional TSP. Learn more: https://dailyfed.com/ #DailyFed #RetirementIncome #TaxesInRetirement

The way you draw money from various retirement income sources can have a big impact on your tax burden. Now that your 2023 taxes are filed, it's the perfect time to review your plan to discover how to make your retirement income more tax efficient. Start here👉 https://ow.ly/Gr9Y50RvfrX #RetirementIncome #MoneyMatters #FinancialFreedom #TaxStrategy #RetirementPlanning

(IRS Notice Defines Retirement Plan Tax Distribution Exceptions) The notice states that taxpayers are permitted to receive distributions from an eligible retirement plan to meet unforeseeable or immediate financial needs related to necessary personal or family emergency expenses. The emergency personal expense distribution is taxable as gross income but is not subject to the 10% additional tax. #retirementplans #plansponsors #IRS https://lnkd.in/gdnbjbfu ________________

Are you sure you’re minimizing taxes on your retirement income? High-net-worth individuals have unique opportunities to preserve wealth and tax plan. 💼 Let’s explore tailored strategies to help you keep more of what you've earned. Reach out to us today for a personalized approach! #WealthManagement #RetirementPlanning #HighNetWorth #TaxPlanning #FinancialFreedom

Now is the time to plan for funding your 2025 retirement accounts. Higher contribution limits and increased income phaseouts mean more taxpayers can make fully-deductible contributions. Plan ahead to maximize this tax benefit. #RetirementPlanning #TaxBenefits #FinancialAdvice #RetirementAccounts #InvestSmart #TaxPlanning #RetirementSavings #WBCEnterprises