Tax Preparation Vs Tax Planning For Retirement with Gary Wood

A big tax refund feels like a win, but it can be the clearest sign you played the wrong game all year. Brad sits down with his longtime CPA, Gary Wood, to talk about what actually drives results for retirees and near-retirees: proactive tax planning that lowers your lifetime tax bill, not just a tax return that documents last year.We get practical about the difference between tax preparation and tax planning, why most people only see their CPA when everyone is busiest, and how a year-round planning relationship creates better decisions around income, deductions, and timing. Gary shares how raising four kids changed his perspective on tax deferral and liquidity, and why “life optimization planning” can matter as much as portfolio math, especially if you expect to work part time in retirement. We also unpack the real-world tax issues that show up after you retire: Social Security taxation, Medicare IRMAA, RMDs, and how filing status can shift if you lose a spouse.Then we move into the nuts and bolts: marginal tax brackets, bracket harvesting, and why Roth IRA contributions and Roth conversions can be a smart “now, later, never” strategy when you coordinate them with deductions. We also call out the noise of viral “tax hacks” and explain why small, repeatable moves often beat flashy one-time plays.If you want clearer next steps and fewer surprises, subscribe, share this with a friend who hates tax season, and leave a review with the one tax question you want answered next.Send us Fan MailTo learn more about Brad Pistole and the Ozark Retirement Group, please visit www.ozarksretirement.com