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Retirement Tax Planning: The 411
Just because you’re retired doesn’t mean you get to stop paying taxes. In fact, the IRS will tax your Social Security pension at a rate dependent on any other monthly income you have. In some cases, the IRS can tax up to 45 percent of your Social Security payments. This is a complicated scenario that everyone has to face. But with sound financial planning, you can minimize the effect of retirement tax on your Social Security income. An advisor can brainstorm outside-the-box plans like investing in tax-exempt assets and lowering the amount that you take from your retirement accounts can help mitigate the blow of retirement tax. That way you can keep more money in your pocket and out of the hands of the IRS.
Speak with One of the Most Qualified Retirement Plan Advisors Around
In spite of the common image of retirees spending their golden years on a beach in Florida, life after the workforce can be just as difficult as it was when you were in the thick of it. But it doesn’t have to be. With sound advice and planning, your retirement can be the best time of your life. If you need retirement planners in the Cypress, TX area, call C&G Tax Service. Trust us as your retirement advisors and let us help you build a stable future.
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FINANCIAL DISCLAIMER:
The information contained on this website is presented for informational and marketing purposes only and is not to be understood as financial advice. You should consult with a representative from our C & GTAX Service for further information, the mere act of contacting C & GTAX Service does not create a client relationship. As a result, you should never send any confidential information to our office until representation or client relationship has been established.