Individual Strategies

Making Smarter Retirement Account Distributions by Asking When, Why, and Where

As a proactive client, you often ask your tax professional about the tax effects of taking distributions from your retirement accounts. Unfortunately, it seems that proactive clients are in the minority. More often, your tax professional only learns about your retirement account distribution when the Form 1099-R arrives with your other tax documents.

Proactive tax planners can improve their tax savings strategies by asking the when, where, and why that can help reduce negative tax consequences and can make you look like a problem-solving rock star to your clients.

Whether you are looking for proactive ideas to implement on your own, or you want to be a problem-solving rock star with your tax planning clients, keep reading to learn how to make smart retirement account distributions.

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Think Outside the Tax Box provides tax reduction strategies along with practical implementation advice in order to reduce your clients’ federal tax bill with ease.

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CURRENT EDITION

A Compendium Of Year End Tax Tips

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As summer turns to fall, the leaves turn and houses start being decorated, the air becomes crisper and the internet fills with year-end tax tip pieces. I call them tip sheets. I just love reading tip sheets, but I’m retired from active practice. Somebody who doesn’t have time on their hands might look at two or three and figure they have seen it all and didn’t learn anything they didn’t know already. I’m here to tell you that if you keep hunting, you might find some gems. But better than that, I will share what I have found in the event you don’t have the time or inclination to look at another twenty or thirty tip sheets.

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