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Tax strategist / Pay by the hour retirement planner - advisor.
Old 06-03-2016, 12:53 PM   #1
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Tax strategist / Pay by the hour retirement planner - advisor.

I have been retired/ semi retired for 3 yrs now.
Working 1 to 2 months per year.
Am 54, 55 in Sep.
I have ran a couple scenario's taking the annuity option from my cash balance / pension account rather than transferring the lump sum to an IRA. And starting a 72T at 55 with my IRA.
It looks like in my case, taking smaller amounts over a longer period and staying in the 15% tax bracket would be beneficial over waiting a few years and having to take more out over a shorter period of time.
Bumping me (married couple) into the 25% -28% bracket.
Is there a professional that specializes in this type of thing?
I want to avoid the typical "sign up / invest with us with us forever for a fee" type of retirement sales person.
Or just a Tax only expert. And would like to just pay for the time / info needed.

Thanks in advance & hope what I described makes at least a little sense. LOL LOL
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Old 06-03-2016, 12:57 PM   #2
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Call a fee based cfp
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Old 06-03-2016, 01:22 PM   #3
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I think you need a CPA with a PFS (personal financial specialist) credential.

You can find one near you at https://account.aicpa.org/eWeb/dynam...erralwebsearch
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Old 06-03-2016, 01:37 PM   #4
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These folks don't really exist. The question comes up from time to time on this forum and on bogleheads.org. I don't think anyone has ever stated that they had found someone who was helpful.

The solution is to become an expert yourself.
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Old 06-03-2016, 01:42 PM   #5
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Am thinking you are correct. Have done so much research I am probably
" almost there" LOL
Would be nice to bounce it off an expert. But everyone has an angle it seems. Plus to me, its a bit personal. And I hate laying everything out to basically a stranger. Hmmm
If I did hit the button on the 72t and annuity, the 1-2 months working would have to end.
As that xtra $30k from working would put me in the higher tax bracket.
And I have paid enough in this lifetime.
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Old 06-03-2016, 02:22 PM   #6
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I consult with a tax preparer CPA that was an IRS agent. I also take a class once in a while.
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Old 06-03-2016, 02:31 PM   #7
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Quote:
Originally Posted by almost there View Post
....If I did hit the button on the 72t and annuity, the 1-2 months working would have to end. ....
And so what's the problem? Seems like the solution is easy.

Could you solve it by making deductible IRA contributions for any excess over the top of the 15% tax bracket?
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Old 06-03-2016, 02:31 PM   #8
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Quote:
Originally Posted by LOL! View Post
These folks don't really exist. The question comes up from time to time on this forum and on bogleheads.org. I don't think anyone has ever stated that they had found someone who was helpful.

The solution is to become an expert yourself.
+1, retired at 54, took the HRB tax course and actually worked about seven tax seasons as a tax preparer, both paid and as a volunteer. There is no substitute for having the knowledge yourself. I actually get a perverse sense of pleasure out making sure I am paying the absolute lowest amount of income tax,legally that I can.
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Old 06-03-2016, 02:38 PM   #9
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If you can find out what the 72T amounts are then you can model them in tax software as well as deleting your income.
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Old 06-03-2016, 02:49 PM   #10
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My fee-only advisor is also a CPA, and has done this for other clients, and will do it for us when we're a little closer. I found her here: Fee-Only Financial Advisors Home - NAPFA - The National Association of Personal Financial Advisors

Can't say they can all do it, but she can.
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Old 06-03-2016, 05:49 PM   #11
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"Originally Posted by almost there
....If I did hit the button on the 72t and annuity, the 1-2 months working would have to end. ....
And so what's the problem? Seems like the solution is easy."

Am leaning that direction. Then at 62 SS will be about 30k added to the mix.


"If you can find out what the 72T amounts are then you can model them in tax software as well as deleting your income."

26k on the 72T.
18K on the annuity
27k rental income.

So a little over 70k / yr.
More than we need / zero debt.
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Old 06-03-2016, 06:02 PM   #12
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26k + 18k + 27K would be ~$25k below the top of the 15% bracket.... even more if you itemize deductions. So if your work income less any deductible IRA deduction is less than $25k you would probably be still be in the 15% bracket.

Income Tax Calculator - Tax-Rates.org
is a good tax calculator that can give you an idea... but a fake return in TT would be better.
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