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Effective Tax Strategies for Retirement
Manage episode 407464220 series 3560644
Content provided by John Largent, Darrin McComas, and Shon Peil. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by John Largent, Darrin McComas, and Shon Peil or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
In this episode, you will learn how to maximize your tax savings with effective tax planning strategies. You will learn about tax planning, where the importance of minimizing taxes in retirement. Darrin and Shon highlight that taxes are not going away and must be accounted for in planning for retirement. It was noted that the Obama era tax codes will return in 2026, which could result in a significant increase in taxes. Strategies like Roth Conversions and avoiding the 'widow tax trap' in order to maximize tax efficiency. "Don't leave the IRS a tip, but unfortunately, a lot of retirees do just that. And being as tax efficient in retirement, it can make a huge difference between really having a successful retirement or a very stressful one." In this episode, you will learn the following: 1. How can you minimize taxes in retirement to ensure a successful retirement? 2. What strategies are available to lower your tax burden in retirement? 3. What is the widow tax trap and how can you avoid it?
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