Influential Entrepreneurs Interviews Certified Financial Planner® Burt Williamson of PlanPrep Discussing Why Now Is a Critical Time to Do Tax Planning

Click here to listen to the interview on the Business Innovators Radio Network.

Tax planning is essential right now for those who are close to retirement or recently retired, according to Certified Financial Planner® Burt Williamson. He explained, “Income tax rates are set to jump higher in 2026, as many of the 2017 federal tax law changes will expire. Nobody is sounding the alarm about it, but some tax brackets will go up by as much as 4% overnight and the gifting and estate tax limits will be cut nearly in half!”

Burt continued, “Most people focus on getting the biggest tax deduction each year rather than reducing their lifetime tax bill. Meanwhile, recent federal tax law changes make it easier to delay taking money out of pre-tax retirement accounts, allowing retirees to defer the taxes longer than before. The longer they defer, the bigger the tax bill will be when they start withdrawing the money or after their kids inherit those accounts. Pre-retirees and those recently retired need a plan to defuse the ticking-tax time bomb before it goes off. Otherwise, it will.”

Proper guidance and tax planning can make it easier and less stressful to enjoy a comfortable lifestyle throughout the golden years, while allowing people to leave a much more tax-efficient inheritance for their heirs someday.

Tax payers in The United States have been experiencing historically low tax rates in recent years, which adds to the timeliness of developing a strategy right  now, some of which may have little to no impact on a person’s spending capacity.

Burt added, “Time can be an ally or a worst enemy. People should meet with their tax advisor and a knowledgeable Certified Financial Planner® soon to take advantage of this limited window of opportunity.”


About Burt Williamson

Burt has helped thousands of people across the country to plan effectively for their unique financial situations since 1995. His company, PlanPrep, is a Registered Investment Adviser. Burt is also licensed to provide annuity and insurance solutions. Burt and PlanPrep act as fiduciaries for all clients.  ~  California License #0D33315




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