CPA Partnership

Taxes with Retirement

Taxes have become an overly complex system that requires an in depth knowledge to best understand what needs to be paid and what can be claimed in order to reduce the money owed to the government. Taxes do not necessarily get simpler when you retire, particularly when individuals continue to work while receiving a pension and social security. That is why we have certified public accountants (CPA) working with us, so that we can help you to best plan or manage this hurdle. One example can be found below.

How We Work With CPAs

We work with CPAs (certified public accountants) to help you find the best use of your money. Sometimes choosing the right investment options will help you save on taxes. Sometimes an investment will allow money that may have gone to taxes now go into an investment where the money can work to earn interest and dividends before taxes are paid on them.

Example: How Certified Public Accountants (CPAs) Can Help You

A couple owes $35,000 in taxes. Through a CPA and Richardson and Associates LLC, this couple only pays $15,000 in taxes. The remaining $20,000 is invested in their retirement account. Taxes on the earnings will be paid at a later date, but for now that $20,000 is working for the couple to earn money towards their eventual retirement.

Disclaimer: These examples are purely that, an example, and are only intended to help you understand how each item works in principle and on a basic level. Your actual returns may be greater or smaller depending on your unique investments and market conditions. We also do not offer tax or legal advice. For advice concerning your own situation, please consult with your appropriate professional advisor.