Tax Planning for Retirees
The author of the treatise, Vorris J.
Blankenship, is a retired 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
and reference book for tax advisors
with clients who are retired or about
to retire. The treatise 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
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
Retirement Plans, IRAs, and
Annuities: Avoiding the Early
Distribution Penalty, TAX ADVISER,
April 2011 at p.254.
Required Spousal Annuities Under
Qualified Retirement Plans, TAX
NOTES, Nov. 19, 2007, at p. 783.
Planning Now for the New Tax on
Retiree Net Investment Income,
3 CCH FINANCIAL AND ESTATE
PLANNING ¶ 33,461 (2011).
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.
Retiree Tax Planning for
Designated Roth Accounts,
PRACTICAL TAX STRATEGIES, Mar.
2011, at p. 100.
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
• Planning the order and timing of (1) retirement plan rollovers and (2) IRA distributions – to
maximize the nontaxable amount. (Section 5.05 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 of the treatise.)
• Electing to defer tax on the distribution of employer stocks and bonds. (Section 2.09 of the
• 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[a][ii] of the treatise.)
• Reversing a previous conversion of an IRA to a Roth IRA – because of changed
circumstances. (Section 6.02[d] of the treatise.)
• Obtaining temporary use of retirement or IRA funds without paying tax or interest on the
funds. (Sections 2.10, 4.05, 5.06, and 6.04 of the treatise explain this technique.)
• Carefully considering the tax aspects of remarriage, or cohabitation that could lead to a
relationship with financial and tax considerations. (See sections 1.02 and 1.03 of the treatise,
discussing tax planning for retirement plan distributions, spousal annuities, continuing care
• Diversifying IRA investments to include some precious metals of the specific types that are
permissible IRA investments. (See section 5.03 of the treatise for a discussion of the IRA rules.)
• Deferring or accelerating income or deductions between tax years to minimize tax on social
security benefits. (Section 1.02[a] of the treatise.)
• Choosing distribution alternatives that delay taxation of required minimum distributions
from retirement plans and IRAs. (Section 1.02 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
and 16.05 of the treatise.)
• Determining when a personally purchased annuity is a useful supplement to, or substitute
for, a tax-favored retirement plan. (See section 16.12 of the treatise.)
More planning ideas
|Copyright © 2005-2014 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.
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