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The best time to start planning for next year's tax season is at the end of this year's tax season. In episode 21 of the YMYW podcast, Joe Anderson, CFP\xae and Big Al Clopine, CPA tell you how to avoid tax surprises and reduce your taxes in retirement. Original publish date April 16, 2016 (hour 1). Note that content may be outdated as rules and regulations have changed.\xa0

00:00 - Intro

03:22 \u201cThe reason we talk taxes right at the end of tax season is because this is when you\u2019re thinking about it and the best time to make a change is right now for 2016 because most strategies that are available to you take time to implement\u201d

05:33 \u201cThe truth is, you have more control over how much you pay in taxes in retirement than any other time in your life\u201d

07:29 \u201cYou could be generating hundreds of thousands of dollars of income and pay very little tax on your Social Security depending on how that income is classified\u201d

12:19 \u201cWe\u2019ve seen people who have money outside of retirement accounts that pay very little tax, sometimes none because of tax loss harvesting and municipal bond income\u201d

19:02 \u201cOur firm has always been a fiduciary, we are a fee-only Registered Investment Advisor (RIA) and never accept commissions of any kind\u201d

26:37 \u201cWhen you take money out of a 401(k) or IRA, you have to pay taxes on it, and a lot of people don\u2019t realize that\u201d

35:49 \u201cYou can actually do the Section 121 Exclusion and the 1031 Exchange on the same property\u201d

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