Get expert tax and accounting help!
Call (866) 681-2140
Call (866) 681-2140
You have saved, but you need a yearly spending number and an order to draw on each account. Your planner sets both, and our CPAs check the tax cost.
Claim Social Security at 62 and you get 30% less a month than at 67, if born after 1959.
From 73, or 75 if born after 1959, take required minimum distributions (RMDs) or owe 25% of any shortfall, 10% if you fix it within two years.
If you retire before 65, you need health coverage until you qualify for Medicare.
A retirement financial advisor starts with what your household spends in a year. Your planner uses that figure, your savings and your income sources to build a plan.
You see a spending range and, for each level, the earliest year you can stop working and what you would leave to your heirs.
Your planner tests the plan against a long life and a falling market. As you near retirement, your planner keeps a year of spending in cash and other low risk holdings.
The IRS taxes pensions, Social Security, traditional accounts, Roth accounts and brokerage sales under different rules. Our CPAs act as your retirement tax advisor and project the tax on each account each year. Your planner then sets the withdrawal order around your target tax bracket and the taxable part of your Social Security.
In a Roth conversion, you move money from a traditional IRA to a Roth IRA and pay income tax on the converted amount that year. You withdraw from the Roth tax free after age 59½, once the account is five years old.
Very thorough and honest. They will work diligently to put you in the best position possible for the current and future years.
| Decision | Advisor without a CPA team | Dimov Tax |
|---|---|---|
| Roth conversion size | You confirm the bracket with your preparer | Your planner and our CPAs size it together |
| Withdrawal order | You take the tax projection to your advisor | Our CPAs project the tax before your planner sets it |
| Tax return | A separate firm files it | Our CPAs can file it |
Pick a time and tell us the year you want to stop working.
Last year’s tax return, account statements and your Social Security or pension estimates.
Your planner walks you through the plan, the withdrawal order and your first moves.
We price the plan by the accounts, pensions and income sources you bring, and you approve the fee before we start.
After you retire, your planner works as a financial advisor for retirees, reviewing withdrawals and RMDs each year.
We also price in the time your attorney or other advisors need from your planner.
These are the factors, not a quote.
A big piece of financial planning people get wrong is how much they need to retire based on their individual spending.
Our team includes CPAs and Enrolled Agents who work on individual returns, business taxes and tax planning. Tell us what you need help with when you get in touch.
You can lose money when you invest. Dimov Tax gives general information here, not investment, tax or legal advice for your situation.
