Due to the Tax Cuts and Jobs Act and the SECURE Act, it is important to understand where you’re at in terms of your tax bracket, where you’ll be in retirement, and how you can plan effectively to minimize your taxes in the long term. Decisions you make today can have a significant impact on how you’re taxed in the future, especially as you approach (or reach) your retirement years, when income issues become more complex. Your FERS and Social Security will become taxable income, your traditional TSP would be tax deferred, you could have qualifying dividends, and so much more. You’ll want to understand how each income stream is taxed, as well as to create more tax-free income streams. This is where we can help.
How you get taxed and how your money is allocated to various federal benefit programs can impact your net pay right now. It can also impact your income tax return every year and your future income. Most importantly, how you save now impacts the way your retirement income is taxed. That’s why it pays to prepare and be “tax-smart” about your money now.
Download this informative white paper to learn a "tax-smart" approach to retirement planning.
Sponsored by Federal Employee Tax Planners