#124 - The basics of taxes and tax planning in retirement
#124 - The basics of taxes and tax planning in retirement  
Podcast: Retirement Planning Education, with Andy Panko
Published On: Thu Nov 07 2024
Description: Andy talks about the basics of what to know regarding taxes and tax planning in retirement. Topics discussed include: What sources of income are taxable vs non-taxableRequired Minimum Distributions ("RMDs") from both your own accounts and inherited accountsHow to pay taxes in retirement: withholdings vs making estimated paymentsGifting tax-efficientlyMaking charitable donations tax-efficientlyOverview of common long-term tax planning strategies:Delaying Social Security and distributing from pre-tax accounts in the interimRoth conversionsTax loss and tax gain harvestingAsset "location" of which investments to hold in which account typesTo send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.comLinks in this episode:The Rock Retirement Club - hereMy company newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.com