All year long, we discuss various retirement planning topics that will have an impact on your taxes. Of course, once tax time rolls around, it’s easy to forget why we did something the way we did, or what we were trying to achieve.
Let’s walk through the various retirement tax tips from last year and how you need to handle each one on your taxes.
Unconventional Roth IRA Strategy to Lower Tax Bill. I still use this smoothing strategy each year to optimize the taxes on our retirement accounts. If last year turned out to be a higher tax year than you are planning for this year, you can move some of the money in tax free accounts to tax deferred accounts to soften the overall tax hit.
Did you take advantage of any of these strategies during the year? How did it turn out?
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