Tax Planning
Taxes don’t stop when you retire—they just change. Income from Social Security, pensions, IRAs, and investments can push you into higher brackets, raise Medicare premiums, or cause unexpected tax bills. At Heartland Retirement Group, we design retirement tax strategies to help minimize the taxes you pay while maximizing the income you keep. Our team in West Des Moines takes a proactive approach, aligning tax planning with your income, investment, and legacy goals so your retirement savings last longer.
Tax-Smart Strategies for Retirees in the Midwest & Beyond
Keeping More of What You’ve Earned
What We Cover
Tax Planning Solutions for a Stronger Retirement
We integrate tax strategies directly into your retirement plan, ensuring every withdrawal, conversion, and gift works toward reducing your tax burden.
Roth Conversions
Converting traditional IRA or 401(k) balances into Roth accounts can provide future tax-free income and reduce future RMDs.
What we help you evaluate:
- When to convert based on your current and future tax brackets
- How much to convert each year without triggering unnecessary tax jumps
- The impact on heirs who could inherit tax-free assets
Required Minimum Distribution (RMD) Planning
Once you reach age 73, RMDs become mandatory from most retirement accounts. Without planning, they can create unnecessary tax spikes.
What we help you evaluate:
- How to coordinate RMDs with other income sources
- Whether charitable giving (such as Qualified Charitable Distributions) could offset RMD taxes
- Options for reinvesting RMDs into taxable or tax-advantaged accounts
Tax-Efficient Withdrawals
The order of withdrawals matters—pulling from the wrong account at the wrong time can increase lifetime taxes.
What we help you evaluate:
- When to use taxable, tax-deferred, and Roth accounts
- The impact of withdrawals on Social Security taxation and Medicare IRMAA surcharges
- Balancing short-term cash needs with long-term efficiency
Tax Planning Questions Answered
Frequently Asked Questions
Do I need tax planning if I already work with a CPA?
Yes. A CPA often focuses on tax filing, while our role is to proactively integrate tax strategy with your retirement income, investments, and estate planning. We also coordinate directly with your CPA for consistency.
What’s the main benefit of a Roth conversion?
Roth conversions shift taxable money into a tax-free account. While you’ll pay taxes on the conversion, it creates future tax-free withdrawals and reduces the size of future RMDs.
Can I avoid taking RMDs?
You can’t avoid them from traditional IRAs or 401(k)s, but you can reduce the impact through early withdrawals, Roth conversions, or by making QCDs directly to charities.
Will my Social Security benefits be taxed?
Possibly. Depending on your other income, up to 85% of Social Security benefits may be taxable. Smart withdrawal sequencing can reduce how much is taxed.
How does charitable giving reduce taxes in retirement?
By donating appreciated assets or using QCDs from IRAs, you can support causes you care about while avoiding taxable income. This strategy can also help meet RMD requirements.
How often should tax strategies be reviewed?
At least annually. Laws change, tax brackets shift, and your personal circumstances may evolve. We schedule regular reviews to keep your plan current.
