[Robert]

I have a KILLER Tax Accountant/CPA. He and I spent about 30 mins on the phone yesterday; and right off the top of my head, I don’t remember what he charges, but given his excellent advice, I don’t really care. That guy is worth his weight in gold.

A lot of what we were talking about is just what you have stated above- in my case, it’s my tax strategy to minimize my taxable income, given that 1) I’m making more than I have ever made, and 2) I anticipate retiring around/about Spring/Summer/Fall 2030.

[Scott]

Personally, the depreciation in my rentals keeps that income low. Every year I do tax loss harvesting, and when I sell, I sell last in first out.

I also run some life expenses through an llc to further reduce taxable income.

[Tristan]

This is where a good financial planner who specializes in tax efficiency comes in to play

[Tristan]

This is where a good financial planner who specializes in tax efficiency comes in to play

[David]

Depends but this is where understanding this tax stuff ahead of time on the journey matters.
Use Roth accounts and do Roth conversions so you can access that money in 5 years tax-free.

I try to keep myself in the 12% bracket and I find that easy to do.

To me, the biggest thing is understanding how taxes work and doing as many Roth conversions as possible to access tax-free money.

[Leona]

I’m interested to know what people are doing too!!
I just reread “quit like a millionaire” and she has some example portfolios that are helpful when it comes to early retirement.

(Chapters 12 and 13 if you want to skip to it)

[Elie]

The tax strategy should start way before you hit your number or anywhere close. Check out the book “power of zero”.

It’s all about how you set up your buckets

[Knee]

Dont let the tax tail wag the dog. That said, I use ROTH accounts and real estate. My goal is to have the real estate fund the lifestyle +15% for unexpected expenses.

Roth and hsa will cover likely increases in medical down the road.

[Author]

Posts