How to Avoid Large Tax Surprises
Episode description
While no one really enjoys paying taxes, we all know it’s a given, and we expect it every year. What makes it worse is getting hit with a tax bill that you never expected. Certain moments in our financial lives can and will trigger tax events so we want to make sure you’re mindful of them, explain what they are, and share some ways to stay ahead of these tax surprises.
Here’s some of what you will learn in this episode:
- Understanding the rules when you sell your primary home and what’s considered profit.
- What might trigger tax events when you're making large changes or transfers in an investment portfolio.
- What steps can you take to minimize your RMD taxes before you start withdrawing that money?
Show Sources:
https://www.kiplinger.com/retirement/retirement-planning/605109/is-your-retirement-portfolio-a-tax-bomb
https://fnrpusa.com/blog/how-defer-capital-gains-tax/
WAYS TO CONNECT:
Book a 15-minute discovery call with the team here: https://calendly.com/rachel-bwg
Visit https://bulmanwealth.com/marcos-lemus to learn more about Marcos Lemus and the other members of the team.
If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com. You can also reach the team by phone at (916) 458-8199.