Skylar Dubrow CPA Suggests: Take A Test Drive Of Your Retirement Plans
February 3, 2014
Skylar Dubrow, CPA
Blog
February 3, 2014Skylar Dubrow, CPABlogNow that the Super Bowl is over, and the football season is finished, we here in Thousand Oaks tax preparer land can now finally get back to looking forward to football season.
And, of course, the commercials! (Which this year seemed a little … “ok” — though I think I will have dreams of that Doberhuaha for a while.)
Anyway, you may have heard that tax season has officially “begun”. Well, when we here at Team Skylar Dubrow CPA sit down with a Thousand Oaks tax preparation client during tax season, we are picking through history — we are helping you sort through your 2013, and make sure that the numbers match … AND, of course, that YOU are able to take advantage of every possible legal and ethical method to hold on to your hard-earned dollars (or sometimes receive a nice bump in your supply from a refundable tax credit).
But we also like to spend time future-casting.
That means that we get to be ones who dream with you — ones (beside you and your spouse) who focus not just on accurately recording “history” for our Thousand Oaks tax preparation clients but also about the real-world implications for what life will look like down the line.
When we do this, it makes me wonder if Thousand Oaks financial counselors do the same thing with retirement?
In fact, I know that some of them do.
But, on the chance that your particular financial planner only pays attention to the numbers, and doesn’t help you evaluate some of the other components of your retirement situation, here’s a few ideas for some practical things you can do.
Would you add anything to this list? I’d be interested in your comments…
Skylar Dubrow CPA Suggests: Take A Test Drive Of Your Retirement Plans
“It doesn’t matter where you are, you are nowhere compared to where you can go.” -Bob Proctor
Thousand Oaks people over 40 shouldn’t just plan for retirement, they should rehearse for it. Because retirement can last 20 to 30 years, it’s more important than ever that “pre-retirees” (those who plan to retire in five to seven years) practice how they want to live without work as the organizational focus of their lives:
Try out different retirement lifestyles
For example, many people dream of selling the family home in the Thousand Oaks area and traveling in an RV or going abroad. Practice this by renting a camper and going on the road for a long vacation. You may discover that travel is exhausting or boring to you.
The same holds true for relocation dreams. Rent a home where you think you may want to retire to see if it really is where you’d like to move. The weather may not suit you, or the community may not be your cup of tea. Work out these details before you commit to an expensive change.
Live with your spouse 24 hours a day
Most couples spend much of their early years working and, thus, spending much of their time apart. It may take some time to get used to the other person’s schedule, habits, and routines.
Practice living on that retirement budget.
Most retirees’ income is significantly less than their preretirement income. Add up all the Social Security benefits, pension income, and 401(k) and IRA savings to calculate what you can realistically expect to live on each month. Then live on that amount for a month to determine what changes, if any, you need to make to your plans.
I hope this all helps! To your family’s financial and emotional peace…
Warmly,
Skylar Dubrow CPA
(818) 889-7285
Preparing a correct and accurate tax return is our priority. We proudly stand behind our work and if a mistake does happen that is our fault, we will immediate correct the mistake and gladly refund your money if requested.
If any penalties or interest are incurred due to our mistake, we will do everything we can to fix the problem and cover any penalties should they arise.
We feel so confident in our processes to account for all deductions and uncover hidden deductions that we guarantee that you will pay the lowest amount of taxes legally possible. We spend a good amount of time correcting and fixing other so called tax pros mistakes and oversights.
We are so committed to giving out clients the best service. We do this by taking thte time to understand our clients situation and asking the right questions to make sure every deduction is accounted for. And remember we work for you, NOT the IRS.
Not only do we prepare an accurate tax return, we will inform you of tax saving strategies and best record keeping practices should we see fit.
Starting January 1, 2017, all our returns come with our “Silver” Stress Free Audit Insurance, FREE with paid tax preparation. Our Silver package includes our full support when handling IRS and State Notices for the 2016 tax year. If you receive a notice, send it to us and we will work with you to organize the required documentation and we will respond to the IRS on your behalf.
“Many tax experts are predicting an increase in IRS audits (because of the system automation), as well as an increase in audits by the state”
Our Gold Package adds our representation for an actual IRS audit for the current year. Whether it be an “audit by mail”, or an actual audit at one of the IRS locations, we will work with you to compile all the necessary documentation and represent you in front of the IRS for no additional charge. Our fees to represent our clients in an audit scenario can range from $1000- $2500 & up depending on time and complexities.
Our Gold option is an optional add on service & not included with regular tax preparation. Gold protection covers the current tax year only regardless of when you get audited.
The IRS and state authorities are behind in auditing tax returns and matching reporting documents to tax returns.They are currently working on 2012 & 2013 years.
Our Platinum level package covers you for a period of 7 years. It Is just like our Gold package, but it includes the currtent year and 6 prior years. We will provide audit coverage for prior years tax returns, even if we did not prepare them.
How is that for taking care of our clients! Once the Platinum level package is purchased, only the gold level will be required in future years as the previous years have been protected by the one time Platinum purchase.
