Hi All,

I was just wondering if any of you offer tax planning during the off season. And if so...

- What is the scope of the tax plan?
- How long does it usually take?
- How much do you charge?

I have had several retirees contact me recently with questions about converting traditional IRAs to Roth IRAs and planning for the RMD.

Given the recent inquiries, I would like to create a tax planning package for retirees. Here's what I'm thinking so far...

Scope:
- Review recent tax law changes
- Review proposed tax law changes (if relevant) and possible impact to client
- Review client's current tax bracket and effective tax rate
- Review last prepared tax return for any mistakes, educational opportunities
- Review withholding and estimated tax payments to make sure they are adequate
- Determine best planning strategies/opportunities (below)

Planning strategies to review:
- Estimate RMD and related tax liability
- Estimate tax liability on Social Security benefits, should client delay SS for tax planning purposes?
- Accelerated IRA withdrawals: based on tax bracket and future RMD tax liability should client take additional IRA withdrawals up to the next tax bracket?
- Roth conversion: based on current and future tax brackets should client convert any traditional IRAs to Roth? Determine optimal schedule based on age and how close to 70 1/2
- Capital gains: given current cap gain rates, if client has any appreciated securities should they sell to take advantage of zero percent rate?
- Tax efficiency of investments: should investments be relocated or reallocated to minimize investment taxes? i.e., is/should the client using ETFs and/or muni bonds in taxable accounts to minimize taxes?
- For young retirees (under 59 1/2), how to tap into retirement accounts without penalty (72t, NUA strategies)

Any other issues, strategies, etc. that should be considered for a retiree not yet age 70 1/2?

For the above, I'm estimating 2 1/2 hours including meeting time and am planning on charging $375.

Any ideas, suggestions or advice from people who are offering a similar service (or considering it) are greatly appreciated.

Thank you!
Kristine