The final three months of this year is a critical window of opportunity that could significantly reduce the total amount of taxes you’ll pay in retirement, say financial advisors Ryan Thacker and Tyson Thacker.

Ryan Thacker and Tyson Thacker are the president and the CEO of B.O.S.S. Retirement Solutions. They’ve helped over 50,000 families plan for a better retirement. And every year, they warn that overlooking a few year-end opportunities could result in needlessly paying higher taxes in retirement.

One of the biggest missed opportunities they see year after year is waiting too long to address your taxes in retirement.

Use retirement tax-planning strategies before it’s too late

Most people associate taxes with the annual April 15 deadline. But the most powerful tax-saving strategies (that could save you a fortune) must be done before the end of the year.

Some key strategies to consider include:

  • Tax-loss harvesting: Sell losing investments to offset capital gains or up to $3,000 of ordinary income.
  • Qualified Charitable Distributions (QCDs): If you’re 70.5 or older, you can give directly from your IRA to charity, which reduces taxable income and your future RMDs.
  • Maxing Out Contributions: Catch-up contributions to your 401(k), IRA, or HSA can reduce taxable income. According to Forbes, “Pre-retirees can make significant headway in tax planning by maximizing contributions… before the clock strikes midnight December 31st.”

These strategies could help you save money on taxes in the short-term, but Ryan and Tyson say even bigger opportunities for tax savings often come when you step back and consider the bigger picture.

“People often make the mistake of just focusing on this year’s taxes, but they don’t realize they could save even more by taking a more long-term approach to tax planning,” Ryan says.

“That’s where tax bracket management comes in,” adds Tyson Thacker. “It’s about taking advantage of your lower-income years, before required minimum distributions and Social Security kick in — because once they do, you start losing options to save on taxes.”

Take advantage of your ‘cheap tax years’

Tax bracket management could significantly reduce your taxes in retirement – if you act soon.

“Every year, the government gives you a tax bucket,” Ryan Thacker explains. “If you don’t fill it to the top with smart withdrawals or conversions in your early retirement years, it’s a missed opportunity.”

Once you turn 73, you’ll be required to take minimum distributions from your IRA or 401(k). At the same time, you’ll already be collecting Social Security — a combination that could easily push you into a higher tax bracket.

“That’s why your earlier retirement years – when you’re likely in a lower tax bracket – are so pivotal,” Tyson says.

Kiplinger refers to this period as the “golden window,” explaining that “This temporary dip in taxable income creates a strategic opportunity to implement tax-efficient strategies, such as Roth IRA conversions, to minimize taxes over a retiree’s lifetime.”

The Golden Window is a once-in-a-lifetime opportunity to optimize your retirement finances–Kiplinger

Some powerful moves to employ in this window include:

  • Strategic Withdrawals from IRAs/401Ks: Sometimes withdrawing earlier could prevent higher taxes later, especially when RMDs kick in.
  • Selling Concentrated Stock Positions: Diversify while your tax bracket is low, avoiding future tax shocks.
  • Partial Roth Conversions: Pay taxes now at lower rates, so your money grows and can be withdrawn 100% tax-free in retirement.

“These moves aren’t necessarily about paying less taxes now,” Tyson says. “They’re about paying smarter taxes now so you don’t get clobbered by taxes later.”

Convert to a Roth while taxes are still low

Roth conversions are a good example of a tax bracket management strategy that could be particularly powerful for many people.

“To me, it’s the promised land, it’s the holy grail,” says Ed Slott in an article for Fortune. “It’s the best possible retirement account anyone could own.

Roth accounts are the best possible retirement account anyone could own.–Ed Slott, America’s IRA expert

When you convert a traditional IRA or 401K to a Roth, you pay tax on the amount now, but from that point forward, your money grows tax-free and comes out tax-free. The money you convert is also not subject to required minimum distributions.

And here’s why timing matters: Today’s tax rates are among the lowest we’ve seen in more than 40 years. But our nation’s debt is at record highs, and there’s no guarantee that future administrations will keep taxes at current rates.

Kiplinger explains, “By converting taxable funds into tax-free Roth IRAs during a low-tax period, retirees hedge against potential increases… [and gain] flexibility and peace of mind in an uncertain tax landscape.”

Conversions must be done by Dec. 31 for the current tax year.

“Roth conversions aren’t for everyone,” Ryan says. “And no two Roth strategies are alike. But for many people, this could be one of the smartest long-term moves to pay fewer taxes in retirement.”

If you take action on these strategies before Dec. 31 — it could be your best opportunity to significantly grow your retirement savings.

That’s why B.O.S.S. Retirement Solutions is offering a free, customized Retirement Tax-Savings Analysis. There’s no cost, or obligation – even if you’re not a client.

They make this simple and easy for you. Once they gather some basic details, one of their advisors who specialize in retirement tax planning will research the strategies that are best-suited for your situation.

Next, they’ll do a side-by-side comparison of how much money you’re projected to pay in taxes in retirement now, versus how much money you could save by using the tax planning strategies they’ve identified specifically for you.

This way you can clearly determine if converting to a Roth is the right decision for you and your family – and it doesn’t cost you a dime, even if you’re not a client.

This offer could be especially beneficial for families who have saved $300,000 up to a few million dollars for retirement.

To schedule your free, customized B.O.S.S. Retirement Tax-Savings Analysis, simply call (801) 990-5055, or click here.

About the Authors: Tyson Thacker and Ryan Thacker are the CEO and President of B.O.S.S. Retirement Solutions. They are published authors of the Amazon best-selling book, “The B.O.S.S. Retirement Blueprint, Your Guide to a Secure and Independent Retirement.” Their award-winning firm has seven offices located throughout the Wasatch Front, and a new office in St. George.

This is for illustrative purposes only, results may vary. Advisory services offered through B.O.S.S. Retirement Advisors, an SEC Registered Investment Advisory firm. Insurance products and services offered through B.O.S.S. Retirement Solutions. The information contained in this material is given for informational purposes only, and no statement contained herein shall constitute tax, legal or investment advice. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation. You should seek advice on legal and tax questions from an independent attorney or tax advisor. BOSS submitted applications and paid application fees to be considered for the Utah Best of State for Retirement Planning awards. The award results were independently determined by the awarding organization’s criteria (https://www.bestofstate.org/about.html) and the information BOSS provided in the applications. BOSS received the Utah Best of State award in 2019, 2020, 2021, 2022, 2023 and 2025. Our firm is not affiliated with the U.S. government or any governmental agency. Marketing materials provided by Infinity Marketing Services.