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Steve Coker, CFP
- Apr 26, 2019
- 3 min
Reducing your taxes in retirement: How to keep more of what you have saved
Many things change dramatically when you retire, not the least of which is your tax situation. Retirees face a unique set of opportunities and challenges that many CPA’s (and Financial Advisors) simply don’t address. One of the most significant opportunities in retirement is the ability to manage taxable income. One of the potential threats is Required Minimum Distributions at age 70.5. By strategically taking distributions from various retirement accounts and making info
Steve Coker, CFP
- Feb 22, 2016
- 2 min
How to Report IRA Distributions on Your Tax Returns
It’s tax time and if you took a distribution from an IRA or retirement plan then you will likely be filling out new information on your tax return this year. Whether you use a tax preparer or file your own taxes, here are some quick tips to make sure everything goes smoothly with Uncle Sam. First, if you’ve taken any type of distribution from your IRA or retirement plan, then you’ll be receiving a form 1099-R showing the amount of the distribution. You will need to show thi
