Darcy Bergen | Weebly
  • Blog
  • About

Long and Short-Term Tax Planning

10/30/2018

0 Comments

 
Picture
Financial planner Darcy Bergen advises clients in regard to wealth management issues. A Certified Retirement Financial Advisor, Darcy Bergen works to increase the after-tax income of his retired clients. 

To reduce a retiree’s tax burden, retirement tax planning must consider how annual withdrawals, income from benefits, Social Security, and new tax laws intersect. Long-term tax planning usually starts at the beginning of the year and reviews all possible withdrawal timetables to keep clients in the lowest possible tax bracket while maintaining their preferred standard of living. 

Long-term tax specialists may encourage their clients to generate investment returns from stocks rather than certificates of deposit or bonds. This is because returns from bonds and CDs are taxed at a higher rate than dividends from stocks. Additionally, any capital losses can be used to offset taxes owed on capital gains. 

Short-term planning estimates the tax burden at the end of the year based on relevant tax codes. For example, clients will work with retirement planners to determine the best time to withdraw from IRA or 401(k) accounts in order to reduce the client's overall tax liability.

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Archives

    November 2019
    October 2019
    August 2019
    June 2019
    May 2019
    April 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    May 2018
    March 2018
    February 2018
    November 2016
    September 2016
    November 2015
    October 2015
    March 2013
    January 2013
    January 2012

    Categories

    All
    Benefits
    Clear Solutions For Seniors
    Community Outreach
    Darcy Bergen
    Finance
    Million Dollar Round Table (MDRT)

    RSS Feed

Powered by Create your own unique website with customizable templates.
  • Blog
  • About