Tax Planning

Helping Reduce Future Taxes

Utilizing IRS Rules to Greatest Advantage In Retirement

It’s important to look ahead into the future to try to reduce your taxes in retirement using strategies that take advantage of tax law. With the sweeping tax legislation changes that have taken place, getting tax planning advice from your financial advisor is more important than ever. We work closely with your tax planning professional or CPA to provide the long-term perspective that can help maximize the amount of retirement income you keep for yourself versus pay out to the IRS.

Some people are surprised to find that they owe taxes in retirement, sometimes even paying taxes on Social Security! One of the biggest reasons tax planning is imperative for the retiree has to do with RMDs (Required Minimum Distributions) which come into play at age 70-1/2. You are mandated by the IRS to start taking money out of tax-deferred accounts like 401(k)s following strict guidelines, and that can have big tax implications.

At SF Financial Solutions, we have strategies that we use in retirement to help reduce your tax liability and help avoid unexpected tax bills that could happen at age 70, while following IRS rules. We strive to keep you in the lowest tax bracket possible every year, creating a written plan showing you how to take money out of your nest egg in a tax-advantaged manner.

Tax Planning: Your Estate

As a part of a comprehensive financial approach, we also offer tax planning strategies to help you transfer your wealth to the next generation in a tax-advantaged manner. We can help provide the financial piece of the puzzle to help avoid problems in the future for your heirs.

SF Financial Services can help you define your desired plan for your financial legacy and then help document everything clearly for your family and estate. We will help you conduct regular reviews, so that things like the beneficiaries designated on your insurance policies and retirement accounts are always up to date, since those take precedence over your will.

Learn More About Retirement

GET YOUR FREE COPY OF SF FINANCIALS' E-BOOK:

TEN STEPS TO A
BETTER RETIREMENT

LET'S CONNECT

Schedule a complimentary consultation to discuss your personal situation by calling (719) 597-2179 or sending us a quick email through our contact page. We can meet in person in Colorado Springs or virtually from anywhere at your convenience.

LET'S CONNECT

Schedule a complimentary consultation to discuss your personal situation by calling (719) 597-2179 or sending us a quick email through our contact page. We can meet in person in Colorado Springs or virtually from anywhere at your convenience.

GET STARTED