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Mid-Year Tax Planning - Why So Important in Retirement?
Episode 21519th June 2023 • Secure Your Retirement • Secure Your Retirement
00:00:00 00:24:43

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In this Episode of the Secure Your Retirement Podcast, Radon, Nick, and Taylor discuss the importance of mid-year tax planning. It’s important to look at the previous year’s tax situation because some things, like Roth conversions and qualified charitable distributions, need to be done before the end of the year in order to be reported on your tax returns.

Listen in to learn the importance of coming up with a good tax withholding strategy to avoid tax liabilities and bills during tax season. You will also learn about the tax benefits of donor-advised funds and qualified charitable distributions.

In this episode, find out:

  • How we look at your last year’s tax situation to better plan your taxes before the end of the year.
  • The importance of coming up with a good tax withholding strategy to avoid tax liabilities and bills.
  • How we review your basic information and sources of income on a tax planning software program.
  • Things you can do to achieve the benefits of itemizing and saving on your taxes.
  • Nick explains how we set up a donor-advised fund through Charles Schwab.
  • Understanding who qualifies for qualified charitable distributions (QCDs), plus their tax benefits options.
  • Understanding all the requirements needed for a mid-year tax planning meeting.

Tweetable Quotes:

  • “Looking at the previous year’s tax return and having conversations throughout the year really helps us guide the withdrawals and the tax strategy.”- Nick Hymanson
  • “There’s a benefit of working with a financial planner to make qualified charitable distributions transactions because the custodian does not report them.”- Taylor Wolverton


If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!

To access the course, simply visit



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