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    Tax

    FinPlan Friday: Building Strong Relationships with CPAs

    Collaboration is the Secret to Smart Retirement Tax Planning Learn more about how to build strong, mutually beneficial relationships with your clients' CPAs in this month's FinPlan Friday conversation with Joe.
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    Tax

    Covisum's Top Retirement Tax Planning Tips

    Proper retirement tax planning is essential for clients to understand as they prepare to retire. Living on a fixed income can be difficult for many retirees, and avoiding unnecessary taxes can help stretch out their retirement income strategies. Retirees face significant tax obligations. They’re required to pay income tax on any pensions and withdrawals from all tax-deferred investments made during the same year. Tax-deferred investments include traditional IRAs, 401(k)s, and similar accounts, as well as tax-deferred annuities when withdrawals are made. These taxes can significantly impact a retiree’s nest egg, giving them less money to live on. Luckily, there are many strategies to help lower taxes paid on retirement income.
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    Tax

    FinPlan Friday: The Biden Tax Plan

    Potential Tax Changes President Biden's tax plan includes some pretty significant changes that could impact how advisors build efficient retirement income plans. Learn more about President Biden's tax plan in our FinPlan Friday conversation with Joe.
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    Tax

    FinPlan Friday: Changes to RMDs

    Required Minimum Distributions Recent changes to required minimum distributions (RMDs) will have a significant impact on how financial advisors construct retirement income plans. Learn more about two of the the biggest changes in our FinPlan Friday conversation with Joe.
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    Tax

    How to Develop a Tax-Efficient Retirement Strategy for Your Clients

    Most wealth management clients don’t think ahead when it comes to the tax impact of their income strategies. They tend to think about taxes only on a year-to-year basis, and many lack the financial expertise to understand the complex implications of effective marginal tax rates, among other complicated issues related to income distribution.
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    Tax

    Essential Definition: The Tax Torpedo and 4 Ways to Avoid It

    Retirement income planning involves much more than just investing your clients’ money and targeting a retirement age. The amount of money your clients have at their disposal is affected by several different factors, including how and when they claim Social Security benefits and the taxes they’re forced to pay on disbursements from various retirement funds. Poor planning can cause your clients’ retirement to be disrupted by the dreaded “tax torpedo.” Here’s how smarter long-term planning can help them avoid this disaster scenario.
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