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Retirement Tax Planning

In retirement, the order and timing of your decisions can affect how much of your savings goes to taxes over time. As a CERTIFIED FINANCIAL PLANNER® professional and an Enrolled Agent (EA), a federally authorized tax practitioner, Darlene Pedrosa looks at taxes across multiple years, not just one return at a time.

What multi-year tax planning can include

  • Withdrawal sequencing. Deciding which accounts to draw from, taxable, tax-deferred, or Roth, and in what order.
  • Roth conversions. Evaluating whether converting some pre-tax savings in lower-income years may make sense, and the tradeoffs involved.
  • Required minimum distributions. Planning ahead for RMDs and how they may affect your tax bracket.
  • Social Security and Medicare. How claiming decisions and income levels can affect taxation of benefits and Medicare premiums.
  • Charitable giving. Strategies such as qualified charitable distributions, where appropriate.
  • Changes after a spouse’s death. The shift in filing status and brackets widows often face. See financial planning for widows.

How we coordinate with your tax preparer

Tax planning looks forward; tax preparation reports what already happened. We share projections and scenarios with the professional who prepares your return so decisions made during the year are reflected accurately.

How it fits into your plan

Tax planning works best as part of your broader retirement plan and investment strategy. Learn more about how financial planning and fees work.

Next step

Start with a 15-minute introductory call at no cost. We’ll talk about what’s on your mind and whether working together makes sense.

Schedule a 15-minute introductory call

Prefer to call? 845-681-1130. Meetings are held at our Rhinebeck office or virtually.

This information is general in nature and is not intended as specific tax or legal advice. Please consult your tax and legal professionals regarding your individual situation. Tax return preparation, where offered, is a separate service and is not provided through LPL Financial.