Tax Planning

“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury. There is not even a patriotic duty to increase one’s taxes. Over and over again the Courts have said that there is nothing sinister in so arranging affairs as to keep taxes as low as possible. Everyone does it, rich and poor alike and all do right, for nobody owes any public duty to pay more than the law demands.” -Judge Learned Hand

Tax changes may cause anyone to panic at retirement age. However, planning ahead for tax time can save you money and reduce stress for the upcoming year. There are tax deferred products, that will allow you to compound your tax interest, and also, possibly avoiding taxes. Differing payouts until retirement may lower your tax bracket and simultaneously save you dollars. At Simmons Financial, we will assist you in optimizing your taxes, in order to increase your bottom line. If you have any questions, please call us.