Tax season has officially started and if you’re an early bird looking ahead to April, you might have already started filing your 2018 taxes. Regardless of where you are in the process, here are a few tips to keep in mind for tax season this year.
Taxes in retirement are not exactly the same as when you’re working, but you will find some similarities. In retirement, you are taxed on the income the same way as you are during your working years, but because you will have several types of income (if you balance your portfolio), your taxes can work in a few different ways.
The last two decades mark a distinct time of change. Over the years, we’ve seen how medical advancements have altered the healthcare industry and how shifts in technology impacted our ability to be successful in the workplace. Among these evolving factors, it’s no surprise that the retirement landscape has also changed from what we knew it to be 20 years ago.