Tax Planning

Jamison R. Banna giving presentation

Taxes are an integral piece while planning your financial future:

Will Tax rates in the future be higher than they are today due to “unfunded obligations”?

Will up to 85% of Social Security be taxed in retirement?

Will forced Required Minimum Distributions (RMDs) at age 73 put you in higher tax brackets?

Retirement accounts like 401(k)s and Traditional IRAs may be exposed to higher taxes.

Can you have a tax-free retirement?

There is historical precedent for higher taxes.

You may not have nearly as many deductions in retirement as you did during your working years.

                                                      

 Glacier Wealth Management can help you answer questions like:

  • How will Federal & State Income Taxes impact my retirement?
  • Will our country's fiscal obligations (debt, entitlement programs, deficits, etc.) necessitate paying higher taxes in the future, and what will that do to my income needs?
  • At 73, what will my Required Minimum Distribution (RMD) amount be from my Retirement Tax-Deferred Accounts?
  • If the required percentage increases, how will it affect my tax liability?
  • Will my Social Security Income be taxed?  Can I avoid this?
  • Can I structure my assets now to help reduce the possible impact of higher taxes in the future and potentially reduce my future tax obligations?
  • Should I do Roth Conversions now?
  • How can I transfer my assets to my beneficiaries Tax-Free?
  • How much tax will I pay if I sell an asset?
  • Our Advisor, Jamison R. Banna, has over 25 years of experience in taxes and structuring.