04-12-2015, 02:18 AM
Good on you for a tax pro. All the little gotcha's have been changing so much in the last few years, especially with kids & colleges, I'd rather pay for the knowledge than learn it all myself.
OK, one variable I haven't a clue about is how long before you reach retirement. If you're closer than further, then you can start planning a little easier. I still think either government spending is going to have to adapt or tax rates are going to have to change in the next decade or two.
Also, if the portfolio income is growing faster than inflation (one of my goals), then you may end up in bracket creep anyway because, as of now, the brackets change with inflation.
Lastly, RMDs may be one reason to have a Roth. There aren't any requirements (yet?) so come 70-1/2, do you really want to be forced to add to your taxable income when you don't need the money yet?
As you can tell, it's something I'm still pondering myself and I only have about 10 years before I slow down.
OK, one variable I haven't a clue about is how long before you reach retirement. If you're closer than further, then you can start planning a little easier. I still think either government spending is going to have to adapt or tax rates are going to have to change in the next decade or two.
Also, if the portfolio income is growing faster than inflation (one of my goals), then you may end up in bracket creep anyway because, as of now, the brackets change with inflation.
Lastly, RMDs may be one reason to have a Roth. There aren't any requirements (yet?) so come 70-1/2, do you really want to be forced to add to your taxable income when you don't need the money yet?
As you can tell, it's something I'm still pondering myself and I only have about 10 years before I slow down.