Taxes in Retirement: Social Security, Roth Conversions & Planning Ahead

Taxes can have a major impact on retirement, but good planning can help reduce surprises and give you more options.

In this episode of Ray Brown’s Wealth Strategies, Ray is joined by Andrew Lazzaro, an enrolled agent with D’Arcangelo & Company, to discuss the role tax professionals can play before, during, and after retirement. Andrew explains how proactive tax planning, projections, and trial tax returns can help clients understand potential tax obligations before April arrives—and why making major financial decisions without considering the tax consequences can be costly. Ray and Andrew also explore some of the biggest tax-related decisions retirees face, including when to begin taking Social Security, the pros and cons of Roth conversions, required minimum distributions, and the value of having financial and tax professionals working together as part of the same team. Andrew also explains how enrolled agents can represent taxpayers before the IRS, respond to tax notices, assist during audits, and help take some of the stress out of dealing with complicated tax issues.

The takeaway: retirement planning is about more than simply accumulating money. Understanding the tax consequences of your decisions—and planning for them before they happen—can help you move forward with greater clarity and confidence.