Tax planning is a key part of effective wealth management. Depending on your unique financial situation, there can be numerous opportunities to strategically reduce your taxable income and prevent a significant chunk of your hard-earned money from unnecessarily going to the government.
It is especially important to avoid big tax hits in retirement, when your income will likely be fixed and a larger-than-expected tax bill can throw off your retirement budget. This Kiplinger article highlights three strategies you can use to reduce your tax risk in retirement.
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