Advanced Tax Planning & Preparation
Most retirees plan for this year's tax return. We plan for the next 20. Led by a CPA with a Master's in Taxation, our advanced tax planning targets your lifetime tax bill (the total you'll pay across retirement) and manages that exposure before it arrives.
Will you be in a higher or lower tax bracket when you retire? Do you think taxes are going up, going down or staying the same? Your retirement is too important to be based on common retirement myths.
“The great enemy of the truth is very often not the lie — deliberate, contrived and dishonest, but the myth — persistent, persuasive, and unrealistic. Belief in myths allows comfort of opinion without the discomfort of thought.”
– John F. Kennedy
What is your current tax plan? Do you have one? If you’re like most retirees, you probably haven’t even considered what your taxes could be in retirement or you may be making the common assumption that you’ll be in a lower tax bracket when you retire. And if you have voiced this concern to your financial advisor, they probably told you to talk to your “tax advisor”. The problem with this approach is your tax advisor’s primary concern is to reduce your taxes today, after all, that is how most people determine if they have done a good job. See, most tax advisors haven’t been properly trained on retirement taxes and how to look at what your future tax liability could be.
As a CPA with a Master of Science in Taxation and training as a Master Elite IRA Advisor under Ed Slott, America’s Leading IRA Expert, I’ve been trained on how to best manage and minimize taxes both now and during retirement. Ed Slott can often be heard saying “Taxes will be the single biggest factor that separates people from their retirement dreams.” Those of us who have saved the most will be the best customers for Uncle Sam.
The question you need to ask yourself is do you want to control your taxes or do you want to be controlled by your taxes? The choice is yours.
Questions? Phil Putney, CPA/PFS is a federally licensed fiduciary. Call (248) 888-7530 or click here to schedule your Tax-Smart Retirement Roadmap™ Assessment.
Common questions
Lifetime tax planning looks at the total taxes you'll pay across all of retirement, not just one year. The goal is to smooth income and use lower-tax years so your cumulative bill is as small as legally possible.
A Roth conversion moves money from a pre-tax account (like a traditional IRA) into a Roth, paying tax now so future growth and withdrawals are tax-free. Done in the right years, it can lower your lifetime tax bill and reduce future required minimum distributions.
Yes. AFS is CPA-led and handles both tax planning and tax preparation, so your strategy and your filed return stay aligned.
You’ve worked hard for your money. We help make your money work hard for you.
Want help to plan your Tax-Smart Retirement™? Click below to schedule a call.
Yes, Let’s Talk