We live in a society that utilizes marginal tax brackets – the more you make, the higher percentage of taxes you will pay. On the surface, this seems somewhat simple and logical. However, if you are nearing retirement (or already there), the system gets far more complicated due to Social Security, Required Minimum Distributions, and Long-Term Capital Gains. These additional income sources can force a retiree making $50,000 a year to pay 55% on their next $1,000 of taxable income withdrawn from a retirement account! With complexity comes opportunity. Understanding the concept of effective marginal tax brackets is key to effective planning. This class will walk you through our tax system, show you how that 55% materializes, and show you how to avoid it.