The vast majority of retirees don’t have unlimited income, so any extra cash that can be preserved via good tax planning is incredibly important.
One easy way to do this is to live in a low-tax state (if possible).
There are currently 9 states that don’t have income tax, and 40 states don’t tax social security benefits.
For some people, living in a state with income tax but no tax on social security benefits could save roughly $5,000+/year.
Now one thing I always warn about - the tax man will get his due.
There are trade-offs when you have lower income tax rates, usually in the form of higher sales tax and property taxes.
So the picture absolutely does need to be viewed in a holistic manner.
Every retiree needs this type of planning and budgeting ran out in order to assist them in managing and maximizing their cash flow.
A simple 3-step onboarding process
After submitting your request, we review the information and then follow up via email to submit the necessary tax documents. Then, we'll schedule a time for your initial planning call.
In this meeting, we'll review your situation and determine where and how we can add value. We'll discuss which services may align best with your current & future needs.
After meeting & reviewing your situation, we prepare a multi-page proposal that shows you your potential tax savings & the different strategies we recommend.
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