Current location:Earthly Elements news portal > entertainment
If you're retired or about to retire, think carefully about your tax strategy
Earthly Elements news portal2024-05-22 10:19:32【entertainment】6People have gathered around
IntroductionNEW YORK (AP) — Coming up with the best tax strategy in retirement can be much trickier than it seem
NEW YORK (AP) — Coming up with the best tax strategy in retirement can be much trickier than it seems, and tax pros agree it’s a time when people need to be especially careful to look at their entire financial picture before deciding on things like 401(k) withdrawal amounts and timing, or when to begin taking Social Security.
“It’s the biggest change in life other than death. Don’t be so quick about deciding when to take Social Security benefits or 401 benefits. Talk to a tax professional before you make these decisions to avoid surprises. It may save you a lot in tax dollars,” says Tom O’Saben, director of tax content and government relations at the National Association of Tax Professionals.
Withdrawing a large amount to do something like pay off a mortgage could result in a dramatic increase in what percentage of your Social Security benefits will be taxed, for example.
Address of this article:http://liberia.brianlynch.org/content-12f499953.html
Very good!(51498)
Related articles
- Serie A champion Inter facing a nervous wait as deadline passes for loan repayment to Oaktree
- Supreme Court on Donald Trump's immunity claims: Key moments, explained
- Frustrated with Brazil's Lula, Indigenous peoples march to demand land recognition
- From flop to one
- Election 2024: Nikki Haley faces a key decision on whether or not to endorse Trump
- Art on the lips at hippiest cultural district in Hong Kong
- British one month
- Bengals take OT Amarius Mims in the NFL draft as Cincinnati seeks better protection for Joe Burrow
- What to stream: Lenny Kravitz, South Park, 'Dune: Part 2'
- Reggie Bush plans to continue his fight against the NCAA after the return of his Heisman Trophy
Popular articles
Recommended
Hong Kong: Authorities will monitor internet platforms for non
Utah Republicans to select nominee for Mitt Romney's open US Senate seat
Yoshinobu Yamamoto's 6 shutout innings help Dodgers finish sweep, defeat Nats 2
Mike Trout leading majors in home runs, but is looking for more consistency at the plate
Singapore Airlines: 1 dead, others injured after London
Ravens pick Clemson CB Nate Wiggins in the first round, adding depth and speed to their secondary
Magic hand Cavaliers worst playoff loss in franchise history, win 121
Frankie Capan III shoots 13
Links
- Damaged air valve in field of cattle is blamed as the source of Devon's parasite outbreak
- Scottie Scheffler arrested at PGA Championship, returns to course
- Chinese premier congratulates Mishustin on reassuming office as Russian PM
- The millennials taking over 'pensioner paradises': How 'Down From Londons' and under
- Terrifying moment knife
- Has VAR broken the beautiful game? The hated technology's SIX biggest blunders, as fed
- AP Week in Pictures: North America
- Britain's 'kindest' plumber damaged my home
- Megalopolis review: Sadly, this may be the great Francis Ford Coppola's Mega
- Breanna Stewart ruins Caitlin Clark's home debut by leading Liberty past Fever 102