Category: Tax Planning

5 Ways to Reduce Your Taxes in Retirement

What are the biggest expenses you’ll face in retirement? Healthcare? Housing? Travel? All of those costs could be significant, but one of the biggest could be taxes. That’s right. Just because you’re done working, doesn’t mean you’re done paying taxes. Many sources of retirement income, like Social Security, pensions, and retirement account distributions, are taxable. […]

Are TSP Distributions Taxable?

Do you contribute to the thrift savings plan (TSP)? It’s one of the most powerful retirement savings vehicles you have available. You receive an automatic 1% agency contribution in the plan, regardless of whether or not you contribute. You can also receive matching contributions on up to the first 5% of your compensation that you […]

What Can You Expect From the New Tax Law in 2019?

  A new year is here, and with it comes a flood of year-end tax documents like W-2s, 1099s and others. Before you know it, the April 15 tax filing deadline will be upon us, and it will be time to submit your return.It’s always wise to meet with your financial professional at the beginning […]

FERS: What’s the Best Date to Retire in 2019?

Is retirement on your resolution list for 2019? If so, this is probably an exciting time. Perhaps you’re making plans to travel or spend time with family. You may be thinking about all the free time you’ll have available once you wrap up your career in government. Technically, you can retire anytime you want, assuming […]

Should You Look for a New Financial Professional?

Do you have a relationship with a financial professional? Are you thinking about making a change? There are so many financial professionals, offering a range of different styles and services, that it can be hard to know which one is right for you. It’s important that you work with the right professional for your needs […]

How Will Your Income Be Taxed in Retirement?

Death and taxes. They say those are the only two certainties in life. You can’t avoid either of the two, but you can manage them. For instance, you can be proactive about your health to reduce the odds of injury or illness and possibly extend your life. Similarly, you can take steps to minimize your […]

March 8, 2018 Tax Planning