Tax Planning

Creating Legacies One Portfolio At A Time

Miramontes Tax Planning 

Taxes don’t stop when your paycheck does. In fact, tapping your retirement nest egg comes with all sorts of new rules and opportunities.  When you retire, your life changes in many ways — and so do your finances.

One of the biggest changes is that instead of contributing to tax-deferred retirement savings plans that reduce your taxes, you’ll start tapping those savings for income and paying taxes at your regular rate (unless you’re tapping a Roth account) — not the preferential capital-gains rate reserved for stocks and bonds held in taxable accounts.

Tax Planning for Retirement

  • What to Do with Your 401(k)
  • Rollover to a Traditional IRA
  • Company Stock
  • Mandatory Distributions
  • Roth IRAs
  • Roth 401(k) Plans
  • Convert to a Roth
  • Social Security
  • Pensions
  • Annuities
  • Health Savings Accounts

Retirement plans take many forms, including Traditional and Roth IRAs, 401(k) plans, or employer-sponsored pension plans. With our help, we will help you select the retirement plans that work for your needs now and after you retire. Reducing taxes with a tax plan is a smart way to protect your hard-earned assets and as such is a very important part of the overall retirement planning process.

Questions We See The Most

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How Does My Pension Get Taxed

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Will Social Security Be Affected

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Do Annuities Have Tax Benefits

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How will my retirement account be taxed before I stop working?

When picking your ideal retirement planning option, one important aspect to consider is whether your account can grow tax-deferred. This means you will not pay taxes on the accrued interest until you begin withdrawing funds (ideally after you reach retirement).

Consider fixed indexed annuities as an example. Unlike a traditional savings account, for which interest is taxed each year, you do not have to pay taxes on the interest accrued from an annuity until you begin making withdrawals. This tax-deferral period can have a dramatic effect on the growth of your account. For instance, if you were to purchase an annuity with an initial payment of $25,000 and add just $5,000 each year, over the course of 20 years, the annuity would amount to $209,624 versus just $186,464 in the savings account, according to the FIA Insights calculator. This striking difference represents the power of tax-deferred growth.

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How will my retirement income be taxed once I begin making withdrawals?

  • Social Security: Depending on the proportion of your retirement income accounted for by Social Security payments, you could be taxed on up to 85 percent of Social Security income. The rate can also vary between 15 and 45 percent.
  • Pensions, IRAs, 401(k)s and other types of retirement accounts: Except for Roth IRAs, which are funded with after-tax dollars, most retirement and pension accounts are taxed as normal income, meaning your rate will be determined by the income bracket in which you fall for the year.
  • Annuities: Other retirement tools, such as fixed index annuities, are also taxed as ordinary income.
    Recognizing the impact of taxes in retirement can help you build a solid foundation in your working years, allowing you to construct the optimal lifestyle for you after you leave the workforce. Additionally, as preparation is key to success, you may find tools like retirement calculators can help you craft the right path.

Customized Tax Planning To Meet Your Goals

Tax planning is the process by which financial assets are analyzed from a taxation perspective to ensure tax efficiency, or reducing the tax liability that may negatively affect the value of accumulated retirement assets.

A tax plan encompasses many components, including the selection of tax-advantaged or tax-deferred investments, participation in retirement plans, tax deductions, minimizing estate taxes, and planning for purchases now and in the future.

A solid tax plan will also set up distributions of proceeds from retirement plans and investments in a manner that reduces or eliminates tax liability.

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Retirement Planning

The talented financial professionals at Miramontes Capital work directly with each client, developing the right plan for each person’s specific needs and desires. We know that many financial concepts are complex – our team excels at breaking down these concepts into easy-to-understand language. The result is a custom-tailored plan that makes sense for you and for your loved ones.

Long Term Care and Life Insurance

When planning for retirement, it is important to understand that taxes don’t stop when our paychecks do. Taxes can impact our retirement finances, even after we’re gone. To ensure a stable financial future for you and for your loved ones, tax planning represents a critical part of the retirement planning process. At Miramontes Capital, our tax planning experts can help you develop a plan that meets your needs and goals perfectly.

Financial Planning

The talented financial professionals at Miramontes Capital work directly with each client, developing the right plan for each person’s specific needs and desires. We know that many financial concepts are complex – our team excels at breaking down these concepts into easy-to-understand language. The result is a custom-tailored plan that makes sense for you and for your loved ones.

Trust & Estate Planning

Our experienced retirement planning professionals at Miramontes Capital are ready to help with comprehensive trust and estate planning services. With our help, you can take charge of your assets, setting a course for a stable financial future for you and your loved ones.

Investment Planning

One of the primary components is the concept of investment planning, or the development of an investment roadmap that helps you meet short- and long-term financial goals. The investment planning professionals at Miramontes Capital can help with this crucial part of the retirement planning process.

Tax Planning

When planning for retirement, it is important to understand that taxes don’t stop when our paychecks do. Taxes can impact our retirement finances, even after we’re gone. To ensure a stable financial future for you and for your loved ones, tax planning represents a critical part of the retirement planning process. At Miramontes Capital, our tax planning experts can help you develop a plan that meets your needs and goals perfectly.

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Miramontes Capital is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Miramontes Capital and its representatives are properly licensed or exempt from licensure. This website is solely for informational purposes. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Miramontes Capital unless a client service agreement is in place.
Securities offered through Purshe Kaplan Sterling Investments, Member 
FINRA/SIPC, Headquartered at 18 Corporate Woods Blvd., Albany, NY 12211
Purshe Kaplan Sterling Investments and Miramontes Capital are not affiliated companies NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE, INCLUDING LOSS OF PRINCIPAL. NOT INSURED BY ANY STATE OR FEDERAL AGENCY. 
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