Tag: Roth Conversions
Five Hidden Retirement Taxes That Can Cost You More Than You Expect (Ep. 46)

Five Hidden Retirement Taxes That Can Cost You More Than You Expect (Ep. 46)

By |

Have you ever wondered why your taxes or Medicare costs seem to increase even when tax rates haven’t changed? 

Small planning decisions can have a much bigger financial impact than many retirees realize.

In this episode, Jim Kruzan, CFP®, CRPC®, explains five often overlooked tax rules that can quietly increase retirement costs over time. He breaks down Medicare premium surcharges, Social Security taxation, payroll taxes, home sale capital gains, and the hidden impact of income thresholds that haven’t kept pace with inflation. 

Jim also shares practical planning ideas to help retirees and pre-retirees make more informed decisions about Medicare, withdrawals, income, and taxes before unexpected costs arise.

Key takeaways:

  • How Medicare premium surcharges increase as income crosses fixed thresholds that haven’t changed with inflation
  • Why surviving spouses often face higher Medicare costs because filing thresholds change after a spouse passes away
  • How selling a highly appreciated home can create unexpected capital gains even after available exclusions apply
  • Why Roth conversions, retirement withdrawals, and investment income should be coordinated before year-end
  • How proactive tax planning can help reduce avoidable costs without changing your long-term retirement goals
  • And more!

Continue Your Retirement Planning

Curious how these retirement tax rules could affect your own financial plan?

Watch our free, 20-minute Engineering Your Best Retirement webinar to learn about the key decisions that can impact your retirement. You’ll also discover how our personalized Retirement Readiness Report helps individuals evaluate their retirement readiness and learn how to request yours for free.

Register for the Webinar / Watch On Demand

Connect with Jim Kruzan: 

Disclosure: This article is provided for informational purposes only and should not be considered tax, legal, or accounting advice. Tax laws are subject to change, and individual circumstances vary. Please consult your tax professional or other qualified advisor regarding your specific situation. 

Sources: 

Podcast: Play in new window | Download | Embed

Subscribe: Amazon Music | RSS | More
The Power of Tax Pro Formas with Dylan Stewart (Ep. 29)

The Power of Tax Pro Formas with Dylan Stewart (Ep. 29)

By |

Have you ever wished you could predict your tax bill before it arrives?

Tax pro formas could help you do just that.

Join Jim Kruzan, CFP®, CRPC®, and returning guest Dylan Stewart, CFP®, CPA, for an enlightening discussion about the often overlooked strategy of using tax pro formas in financial planning. Learn how to anticipate tax liabilities, make informed decisions, and optimize your financial strategy to build upon your wealth and create the retirement you desire.

Talking points include: 

  • How tax pro formas work and fit into financial planning as a whole
  • How to use a tax pro forma to avoid unexpected tax liabilities
  • The downsides of AI in this space and the importance of accurate data collection for building a strong tax pro forma
  • The importance of holistic tax planning, the integration of Roth conversions, and reviewing your tax history
  • Common tax pro forma mistakes and how to avoid them
  • And more!

Resources:

Connect with Jim Kruzan: 

Connect with Dylan Stewart:

About Our Guest: 

Dylan Stewart, CFP®, CPA, serves as a Wealth Advisor at Kaydan Wealth Management, offering comprehensive wealth management and guiding clients through the Evolutionary Wealth Process. As a member of the Investment Policy Committee and collaborator with Senior Wealth Advisors, he plays a pivotal role in shaping and maintaining client financial strategies.

“I love helping clients feel safe and secure by helping them achieve their financial goals and dreams.”

Podcast: Play in new window | Download | Embed

Subscribe: Amazon Music | RSS | More