Tax season is here, and if you're retired or approaching retirement, your tax situation looks very different than it did during your working years. 

In this episode, Stewart Smith (LUTCF®, RICP®) and Mitch Davies (CFP®) break down the critical tax considerations for the distribution phase of retirement.

Whether you're planning your first year of retirement or you've been retired for years, understanding how taxes work in this phase can help you make more informed decisions about your retirement income strategy.

In This Episode:

• The three tax buckets and why they matter in retirement
• How Required Minimum Distributions (RMDs) affect your tax bracket
• IRMAA: Understanding income-based Medicare Part B premiums
• The standard deduction changes for seniors (and the phaseout thresholds)
• The "tax torpedo" - why one withdrawal can trigger unexpected tax consequences
• The "widow penalty multiplier" and single filer considerations
• Qualified Charitable Distributions (QCDs) for those age 70½+
• Donor-advised funds as a tax-efficient legacy strategy
• Why lifetime tax mapping matters more than year-to-year planning

Key Takeaway: Tax planning in retirement requires looking at the entire retirement timeline, not just the current year. Understanding thresholds, phaseouts, and the interplay between different income sources can help you avoid costly mistakes.

This episode is educational in nature and not intended as tax, legal, or investment advice. Please consult with qualified tax and financial professionals regarding your specific situation.

Connect with ClearPath Retirement: Website: ClearPathRetirement.com Location: Greenville, South Carolina Listen: Saturdays at 10 AM on Upstate Red AM 1330

Ready to bring clarity to your retirement?

ClearPath Retirement Planning helps retirees and pre-retirees in the Upstate SC and Columbia areas create tax-efficient retirement income strategies.

📍 300 Executive Center Drive, Suite 104 | Greenville, SC 29615
📞 (864) 775-5033

Schedule your complimentary consultation today at www.clearpathretirement.com

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Important Disclosure:

Investment advisory services offered through Alphastar Capital Management, LLC, a SEC-registered investment adviser. SEC registration does not constitute an endorsement of the firm by the SEC nor does it indicate that the adviser has attained a particular level of skill or ability. Fixed insurance products are offered through Clearpath Retirement Planning, LLC and Alphastar Capital Management is not involved in the offer, recommendation, sale or management of commission-based fixed Insurance products. Alphastar Capital Management and Clearpath Retirement Planning, LLC are separate and independent entities. This is for informational purposes only and is not intended as legal, tax or investment advice or ...