Income Tax Reduction

At Perissos Private Wealth Management, we believe a strategic approach to income and tax planning can empower you to enjoy a more secure and prosperous retirement. Our comprehensive tax reduction tactics fall into three key areas: reducing annual taxes, minimizing taxes throughout your retirement, and lessening the tax burden for your beneficiaries. By leveraging our deep knowledge of the tax code, we aim to enhance your savings and guide you confidently through the complexities of the financial landscape.

Through a combination of targeted income planning and tax strategies, we implement our framework to effectively lower your tax liability. While your CPA remains your primary source for personalized tax advice, our team at Perissos Private Wealth Management builds your investment and income plan with an emphasis on maximizing the benefits of the tax code to support your goals.

In retirement, your adjusted gross income (AGI) and modified adjusted gross income (MAGI) are foundational, relying on annual income and tax return reporting. How you receive income, such as IRA distributions, non-IRA distributions, dividends, bond interest, or social security, impacts your tax burden. The strategic placement and timing of these income sources can greatly influence your taxes.

We understand that individuals have a considerable degree of control over their tax returns. By aligning your retirement income plan with the nuances of the tax code, we help you achieve significant tax savings. This can prove essential in covering medical expenses, long-term care costs, and other financial challenges during retirement.

Our Team will work closely with you and your tax advisor to identify the best options for your situation, aiming for a better retirement outcome and enhanced financial well-being.