Hey everyone, If I am looking for help with planning my Tax strategy going into retirement and beyond, who do I look for. I know this may seem like a stupid question but I'm not sure who to go to. My tax lady, CPA, financial adviser, not sure who would be qualified to help me, is their such a thing as a Retirement Tax Planner, can you please point me in the right direction?
Taxes
- Thread starter Joseph101
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pb4uski
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I would suggest that you find a CPA who also has a PFS (Personal Financial Specialist) designation.
https://account.aicpa.org/eWeb/dynamicpage.aspx?webcode=referralwebsearch
https://account.aicpa.org/eWeb/dynamicpage.aspx?webcode=referralwebsearch
Souschef
Thinks s/he gets paid by the post
Welcome to ER. I think the problem is there is no "one size fits all" solution. So much depends on what your assets are, their characterization (IRA, Roth, taxable).
I retired late because I had to have medical coverage for my brain injured wife.
It also depends on what kind of medical you have and plan to have in retirement.
There are decisions you will have to make about pensions, what age to take Social Security, etc.
I had a surprise as a double whammy. When I had to take my Required Minimum Distribution (RMD) (now at 72), it pushed my Adjusted Gross Income (AGI) to a point where I had to pay tax on 85% of my Social Security (SS). It also triggered an IMRRA (Income Related Monthly Adjustment Amounts) surcharge on the SS payments.
I retired late because I had to have medical coverage for my brain injured wife.
It also depends on what kind of medical you have and plan to have in retirement.
There are decisions you will have to make about pensions, what age to take Social Security, etc.
I had a surprise as a double whammy. When I had to take my Required Minimum Distribution (RMD) (now at 72), it pushed my Adjusted Gross Income (AGI) to a point where I had to pay tax on 85% of my Social Security (SS). It also triggered an IMRRA (Income Related Monthly Adjustment Amounts) surcharge on the SS payments.
Montecfo
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
There are a few ways to go. PB4USKI identified PFS which is probably one good way to go.
There are Certified Retirement Counselors (CRC) that are trained in accumulation as well as distribution strategies.
A Retirement Income Certified Professional (RICP) is a relatively new designation focused on strategies around developing retirement income streams, including tax aspects.
I would probably search for someone with one of those designations, or a CFP with a very solid tax background.
There are Certified Retirement Counselors (CRC) that are trained in accumulation as well as distribution strategies.
A Retirement Income Certified Professional (RICP) is a relatively new designation focused on strategies around developing retirement income streams, including tax aspects.
I would probably search for someone with one of those designations, or a CFP with a very solid tax background.
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