3 Tips For Minimizing Taxes And Maximizing Retirement
AB Digital
Planning for taxes in retirement is a lot like asking a child to eat their vegetables. While both parties don t appreciate the task they ve been presented with, not doing so could lead to some bad consequences. Especially not paying taxes.
For those who are retired or approaching retirement, it s important to understand that there are many ways to minimize taxes but no one-size-fits-all solution. This can make tax planning very complicated for retirees and even worse, costly. Living off a fixed income during retirement means that every dollar counts. And for those who choose the wrong strategy or happen to make a mistake, it could mean losses of potential tax savings or possible issues with the IRS.