Tax Planning in Charleston, SC
TAX PLANNING SERVICES:
Don’t leave the IRS a tip!
Retirement planning may be our core, but retirement tax planning is our specialty. There are many strategies out there to keep more of your hard-earned money and pay less to Uncle Sam, and most people do not know about them.
A good chunk of your money can be lost needlessly to taxes if you do not plan ahead, especially if the majority of your wealth is in an IRA.
Congress is constantly hovering over your IRA with a knife and fork, ready to dig in. The following are some of the most common ways we help you pay less taxes in retirement:
- Tax Harvesting: Selling certain investments at a loss to offset other investments that have gains.
- Roth Conversions: Converting a portion of your IRA to a Roth at specific points in your life can lower overall taxes and increase your wealth.
- Qualified Charitable Distributions: Giving to charity can pay by lowering your income and thus lowering your taxes.
- Proportional Distributions: Taking money from different investment buckets can help you pay less in taxes.
- Life Insurance: The single best, most cost-effective, yet amazingly underutilized way to protect your retirement account balances from being killed by taxes is buying life insurance to offset the tax burden your beneficiaries may face.
Want to find out how to pay less taxes in retirement? Schedule a no-cost consultation with one of our financial experts today.
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A RESOURCE FOR YOUR RETIREMENT.
When you work with Runey & Associates, you have a team of experts to help you make wise decisions and address all areas that affect your financial health.
Our services help you reach your goals by providing regular meetings, keeping you informed on industry and tax law changes, explaining the ‘noise’ of the financial media, monitoring progress towards your goals, and working with your existing professionals.
Premier Program
Fee-Only Investment Management Through Comprehensive Financial Planning
| Assets Under Management | Annual Fee |
| Up to $1M | 1.25% |
| $1M to $3M | 1.00% |
| $3M to $5M | 0.75% |
| $5M + | 0.50% |
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