Retirement Tax Prep Checklist: What to Consider Before You Draw a Dime

🔲 Know Your Account Types

  • Traditional IRA / 401(k)

  • Roth IRA

  • Taxable brokerage or bank accounts

  • Inherited IRAs

  • HSA (if applicable)

🔲 Have You Reached These Milestones?

  • Age 59½ – penalty-free withdrawals

  • Age 62 – eligible for Social Security

  • Age 65 – Medicare eligibility

  • Age 73 – Required Minimum Distributions (RMDs) begin

🔲 Key Tax Planning Questions:

  • Should I convert to a Roth before RMDs start?

  • Can I defer Social Security to maximize benefits?

  • Will a large withdrawal push me into a higher tax bracket or trigger IRMAA?

  • Am I eligible for QCDs (Qualified Charitable Distributions)?

  • Can I smooth income to avoid spikes in AGI?

🔲 Documents to Gather for a Retirement Tax Review:

  • Prior year tax return

  • Social Security statement

  • IRA / 401(k) balances

  • Pension estimates

  • Investment account statements

  • Health care premium summary (if retired)

🔲 Questions to consider:

  • What is my projected tax liability if I start withdrawals this year vs. next?

  • Should I take more from taxable accounts to let IRAs grow longer?

  • Can I use charitable giving to reduce taxable income?

📌 Want a customized retirement tax review based on your accounts and timeline?
🔘 [Schedule a Retirement Tax Strategy Session]

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