PLANNING SERVICES
Tax-Aware Planning
Considering how tax treatment across different types of accounts and income sources may factor into longer-term financial planning decisions.
What This Planning Area Covers?
Tax considerations are woven through nearly every significant financial planning decision. From account withdrawals and Roth conversions to Social Security income, investment sales and required minimum distributions. Tax-aware planning doesn't promise to eliminate taxes; it focuses on understanding the tax character of different income sources and decisions, and thinking about timing and sequencing in a thoughtful way.
Common Questions We Discuss
What is the tax character of my different income sources in retirement?
When might a Roth conversion be worth considering?
How will required minimum distributions affect my tax situation?
How does my income level affect the taxation of Social Security?
What are the tax implications of different account withdrawal strategies?
Important Considerations
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Tax-aware planning is not tax advice — always work with a qualified tax professional
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Tax laws change, and planning should account for potential future changes
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Roth conversions create taxable income in the year of conversion
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There is no strategy that eliminates all taxes in retirement
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Coordination between financial planning and tax preparation is valuable