Tax Planning for Retirees
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| Available at LexisNexis Bookstore |
The author of the treatise, Vorris J.
Blankenship, is a California attorney
and CPA, and a frequent contributor to
tax law journals. Before retiring, he
practiced for more than 35 years as a
tax lawyer and CPA in Chicago and
San Francisco. As a retiree himself,
Mr. Blankenship has personally used
many of the tax-saving techniques
explained in his treatise.
Blankenship, is a California attorney
and CPA, and a frequent contributor to
tax law journals. Before retiring, he
practiced for more than 35 years as a
tax lawyer and CPA in Chicago and
San Francisco. As a retiree himself,
Mr. Blankenship has personally used
many of the tax-saving techniques
explained in his treatise.
Tax Planning for Retirees
This publication is a tax planning
treatise and reference book for tax
advisors with clients who are retired
or about to retire. It is published by
LexisNexis Matthew Bender.
Chapter 1 summarizes the tax
planning ideas and techniques
presented in the treatise. A retiree
may implement some of these
tax-saving techniques at the time of
retirement, and implement others at
any time after retirement.
Chapter 1 also summarizes the
tax-saving techniques in the treatise
available to the beneficiaries of a
retiree.
The first section of each subsequent
chapter provides an overview of the
material contained in the chapter.
The overview summarizes the
material in the chapter and provides
cross-references to more detailed
discussions of each point.
More about the treatise
The Table of Contents
This publication is a tax planning
treatise and reference book for tax
advisors with clients who are retired
or about to retire. It is published by
LexisNexis Matthew Bender.
Chapter 1 summarizes the tax
planning ideas and techniques
presented in the treatise. A retiree
may implement some of these
tax-saving techniques at the time of
retirement, and implement others at
any time after retirement.
Chapter 1 also summarizes the
tax-saving techniques in the treatise
available to the beneficiaries of a
retiree.
The first section of each subsequent
chapter provides an overview of the
material contained in the chapter.
The overview summarizes the
material in the chapter and provides
cross-references to more detailed
discussions of each point.
More about the treatise
The Table of Contents
Related Articles Published
by the Author of the Treatise
Conversions to Roth IRAs and
Roth Recharacterizations,
JOURNAL OF RETIREMENT PLANNING,
Nov.-Dec. 2005 at p.11.
Required Spousal Annuities Under
Qualified Retirement Plans, TAX
NOTES, Nov. 19, 2007, at p. 783.
Maximizing Tax Deferral for Funds
in Tax-Favored Retirement Plans
and IRAs, 3 CCH FINANCIAL AND
ESTATE PLANNING ¶ 32,871 (2006).
Tax Issues Complicate the Costs of
Chronic Illness and Long-Term
Care Insurance, JOURNAL OF
TAXATION, Apr. 2007, at p.216.
Controlling and Minimizing the
Taxation of Disability Benefits, TAX
LAWYER, Spring 2007, at p.725.
Retirement Planning for Unfunded
Deferred Pay Under Section 409A,
PRACTICAL TAX STRATEGIES, July
2008, at p. 14.
See a complete listing
by the Author of the Treatise
Conversions to Roth IRAs and
Roth Recharacterizations,
JOURNAL OF RETIREMENT PLANNING,
Nov.-Dec. 2005 at p.11.
Required Spousal Annuities Under
Qualified Retirement Plans, TAX
NOTES, Nov. 19, 2007, at p. 783.
Maximizing Tax Deferral for Funds
in Tax-Favored Retirement Plans
and IRAs, 3 CCH FINANCIAL AND
ESTATE PLANNING ¶ 32,871 (2006).
Tax Issues Complicate the Costs of
Chronic Illness and Long-Term
Care Insurance, JOURNAL OF
TAXATION, Apr. 2007, at p.216.
Controlling and Minimizing the
Taxation of Disability Benefits, TAX
LAWYER, Spring 2007, at p.725.
Retirement Planning for Unfunded
Deferred Pay Under Section 409A,
PRACTICAL TAX STRATEGIES, July
2008, at p. 14.
See a complete listing
Tax Planning Ideas for Retirees
The treatise describes actions a retiree may take to reduce taxes during retirement years.
For example, a retiree may save taxes and thus enhance retirement income by:
• Maximizing the nontaxable amount of retirement plan benefits by taking a lump sum
distribution limited to previous employee contributions. (See sections 2.08 and 10.11 of the
treatise.)
• Planning the order and timing of (1) retirement plan rollovers and (2) IRA distributions – to
maximize the nontaxable amount. (Section 5.05[4] of the treatise.)
• Eliminating withholding tax on retirement plan distributions by making a trustee-to
trustee rollover to his or her IRA. (Section 2.10[2] of the treatise.)
• Electing to defer tax on the distribution of employer stocks and bonds. (Section 2.09 of the
treatise.)
• Carefully considering whether (and when) to transfer regular IRA or retirement plan
assets to a Roth IRA. (Section 6.05 of the treatise.)
• Planning the order and timing of (1) retirement plan rollovers and (2) Roth IRA conversions
– to maximize the nontaxable amount. (Section 6.02[2][a][ii] of the treatise.)
• Reversing a previous conversion of an IRA to a Roth IRA – because of changed
circumstances. (Section 6.02[2][d] of the treatise.)
• Obtaining temporary use of retirement or IRA funds without paying tax or interest on the
funds. (Sections 2.10[3], 4.05, 5.06[3], and 6.04 of the treatise explain this technique.)
• Deferring or accelerating income or deductions between tax years to minimize tax on
social security benefits. (Section 1.02[4][a] of the treatise.)
• Choosing distribution alternatives that delay taxation of required minimum distributions
from retirement plans and IRAs. (Section 1.02[2] of the treatise.)
• Taking a partial lump sum distribution from a personally purchased annuity or a funded
nonqualified plan after the annuity has started – rather than before. (Sections 10.10[6]
and 14.05[5] of the treatise.)
More planning ideas
The treatise describes actions a retiree may take to reduce taxes during retirement years.
For example, a retiree may save taxes and thus enhance retirement income by:
• Maximizing the nontaxable amount of retirement plan benefits by taking a lump sum
distribution limited to previous employee contributions. (See sections 2.08 and 10.11 of the
treatise.)
• Planning the order and timing of (1) retirement plan rollovers and (2) IRA distributions – to
maximize the nontaxable amount. (Section 5.05[4] of the treatise.)
• Eliminating withholding tax on retirement plan distributions by making a trustee-to
trustee rollover to his or her IRA. (Section 2.10[2] of the treatise.)
• Electing to defer tax on the distribution of employer stocks and bonds. (Section 2.09 of the
treatise.)
• Carefully considering whether (and when) to transfer regular IRA or retirement plan
assets to a Roth IRA. (Section 6.05 of the treatise.)
• Planning the order and timing of (1) retirement plan rollovers and (2) Roth IRA conversions
– to maximize the nontaxable amount. (Section 6.02[2][a][ii] of the treatise.)
• Reversing a previous conversion of an IRA to a Roth IRA – because of changed
circumstances. (Section 6.02[2][d] of the treatise.)
• Obtaining temporary use of retirement or IRA funds without paying tax or interest on the
funds. (Sections 2.10[3], 4.05, 5.06[3], and 6.04 of the treatise explain this technique.)
• Deferring or accelerating income or deductions between tax years to minimize tax on
social security benefits. (Section 1.02[4][a] of the treatise.)
• Choosing distribution alternatives that delay taxation of required minimum distributions
from retirement plans and IRAs. (Section 1.02[2] of the treatise.)
• Taking a partial lump sum distribution from a personally purchased annuity or a funded
nonqualified plan after the annuity has started – rather than before. (Sections 10.10[6]
and 14.05[5] of the treatise.)
More planning ideas
| Copyright © 2005-2009 by Vorris J. Blankenship All Rights Reserved |
The author intends that this website provide accurate and authoritative information on the subject matter
covered. However, the information provided on this website is not a substitute for the advice of an attorney,
accountant, or other professional; and the author is not offering legal, accounting, or other professional
advice. The material presented on this website is not intended for use, and may not be used, to avoid tax
penalties. If you need legal advice or other professional help, you should seek (from an independent
attorney, accountant, or other competent professional) advice based on your own particular circumstances.
covered. However, the information provided on this website is not a substitute for the advice of an attorney,
accountant, or other professional; and the author is not offering legal, accounting, or other professional
advice. The material presented on this website is not intended for use, and may not be used, to avoid tax
penalties. If you need legal advice or other professional help, you should seek (from an independent
attorney, accountant, or other competent professional) advice based on your own particular circumstances.