Massachusetts Advanced Tax Planning

Tax planning is an important component of your overall retirement plan. Tax planning goes beyond the process of merely filing your taxes each year to also incorporate the analysis and arrangement of your personal situation to help maximize tax breaks and minimize your tax liabilities. This process includes asking yourself questions such as: 

Has my tax situation changed from last year? 

Do I plan to do any gifting this year? 

Do I have any tax-related estate planning concerns? 

Are my investments best positioned to minimize taxes on my earnings? 

Are my anticipated income sources in retirement properly positioned to manage taxes, including possible taxation of my social security benefits?  

“The great enemy of the truth is very often not the lie — deliberate, contrived and dishonest, but the myth — persistent, persuasive, and unrealistic. Belief in myths allows comfort of opinion without the discomfort of thought.” — John F. Kennedy

At Cutter Financial Group, our process is to not only review your current tax situation, but also provide information about what your tax situation could look like throughout retirement. Our objective is to minimizes your tax exposure to and through retirement.

If you’re like most retirees, you probably haven’t even considered what your taxes could be in retirement, or you may be making the common assumption that you’ll be in a lower tax bracket when you retire. If you have voiced this concern to your financial advisor, they probably told you to talk to your “tax advisor.” The problem with this approach is your tax advisor’s primary concern is to reduce your taxes today. After all, that is how most people determine if they have done a good job. The challenge is that many tax advisors haven’t been properly trained on retirement taxes and how to look at what your future tax liability could be.

As a CPA with a Master of Science in accounting, Jeff has been trained on how to best manage and minimize taxes within a comprehensive retirement system for greater efficiency.

The question you need to ask yourself is do you want to control your taxes or do you want to be controlled by your taxes? The choice is yours.

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Let us get to know your situation, goals and needs – then together, we will help you build a sound retirement system.

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