Planning for retirement can feel like a big step, especially if financial topics aren’t something you feel particularly comfortable talking about. At Vantage Point, we help clients build a retirement roadmap that reflects their goals, lifestyle, and resources. Once that outline is in place, a Certified Public Accountant (CPA) may play an important role in reviewing the tax implications of your plan.
Working together, your financial advisor and CPA can fine-tune the details so you’re not only saving wisely but also preparing for the tax realities of retirement. Here are a few questions worth asking a CPA once you’ve built your plan outline with us.
How Can Retirement Affect My Taxes?
Taxes don’t go away in retirement, but they can look different depending on your income sources. A CPA can review your financial plan and explain how tax rules may apply to the income streams you’ll rely on, such as:
- Social Security
- 401(k) or IRA withdrawals
- Pensions
- Investment income
- Freelance or part-time work
Some accounts may be taxable when you withdraw money. Others have specific rules tied to your age. For example, required minimum distributions (RMDs) begin at age 73 for certain accounts, depending on your birth year¹.
By coordinating with your advisor, your CPA can help ensure that your withdrawal strategy lines up with both your retirement goals and tax responsibilities.
Is My Income Setting Me Up for the Future?
Once your retirement plan outlines your savings, spending, and investment strategy, your financial advisor may work with a CPA to help analyze how that income translates into your long-term financial picture. They may consider questions like:
- Am I contributing to retirement accounts in a way that makes sense for my tax situation?
- Are there strategies to lower my taxable income now or in the future?
- How might pre-tax vs. after-tax contributions affect me later?
These discussions can make your retirement plan more precise. While there are no one-size-fits-all answers, having both your advisor and CPA working in sync means you can approach retirement with more clarity and confidence.
With Vantage Point helping you build a plan and the CPA reviewing its tax implications, you’ll have a team working to help position you for success. To get started, contact Vantage Point and take the next step toward living retirement boldly and on your terms.
Citations
- Retirement topics – Required minimum distributions (RMDs), IRS, Accessed July 29, 2025,https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-required-minimum-distributions-rmds
Investment advisory services are offered through Vantage Point Financial, a registered investment adviser. Registration with any regulatory body does not imply any particular level of skill. This material is provided for informational purposes only and should not be construed as investment, tax, or legal advice. Working with a financial planner does not ensure financial success or prevent loss. All investments involve risk, including the possible loss of principal. Past performance does not guarantee future results. The scenarios presented are hypothetical and are intended for illustrative purposes only. They do not reflect actual client results and are not guarantees of future outcomes. Individual results will vary. Certain financial strategies may offer tax advantages, but outcomes depend on individual circumstances and are subject to change due to tax laws and other external factors. Vantage Point Financial does not provide legal or tax advice. Consult a tax professional. Retirement outcomes depend on a variety of factors, including individual savings behavior, market performance, health events, and other considerations. Certain statements herein may reflect the firm’s current views, expectations, or beliefs, which are subject to change without notice. For additional information about our services, fees, and disclosures, please refer to our Form ADV Part 2A, available at https://vantage-point.mwdevsite.com or upon request at no cost.
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