---
title: Creekmur Wealth Advisors | taxes
description: taxes | We help create true wealth and retirement income strategies for people in or nearing retirement so their retirement income lasts as long as they do.
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## Educate, Encourage, Empower

## [Post Tax Season Planning Tips](https://blog.creekmurwealth.com/blog/post-tax-season-planning)

 Posted by [Andy Anderson, CFP®](https://blog.creekmurwealth.com/blog/author/andy-anderson-cfp) on 11:00 AM on May 2, 2022

[![](https://blog.creekmurwealth.com/hubfs/Imported%20sitepage%20images/home-plan.jpg)](https://blog.creekmurwealth.com/blog/post-tax-season-planning)

Tax season has come and gone, but that does not mean the planning stops! While much of your focus prior to April 18th may have been on making sure you get your tax return submitted properly, the focus can now shift towards some other items that can improve your financial well-being over the course of the rest of the year.

[Read More](https://blog.creekmurwealth.com/blog/post-tax-season-planning)

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 Topics: [Financial Planning](https://blog.creekmurwealth.com/blog/tag/financial-planning), [Goals](https://blog.creekmurwealth.com/blog/tag/goals), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes), [Certified Financial Planner, CFP](https://blog.creekmurwealth.com/blog/tag/certified-financial-planner-cfp), [Tax Planning](https://blog.creekmurwealth.com/blog/tag/tax-planning)

## [Tax Planning Made Easy](https://blog.creekmurwealth.com/blog/3-last-minute-tax-strategies)

 Posted by [Andy Anderson, CFP®](https://blog.creekmurwealth.com/blog/author/andy-anderson-cfp) on 4:24 PM on March 17, 2022

[![](https://blog.creekmurwealth.com/hubfs/canstockphoto32414751.jpg)](https://blog.creekmurwealth.com/blog/3-last-minute-tax-strategies)

Believe it or not, we are only one month away from the tax filing deadline! With that in mind, we figured it would be beneficial to discuss some last minute 2021 tax planning ideas as well as one that could help you out when it comes time to file 2022 taxes.

[Read More](https://blog.creekmurwealth.com/blog/3-last-minute-tax-strategies)

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 Topics: [Financial Planning](https://blog.creekmurwealth.com/blog/tag/financial-planning), [Goals](https://blog.creekmurwealth.com/blog/tag/goals), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes), [Certified Financial Planner, CFP](https://blog.creekmurwealth.com/blog/tag/certified-financial-planner-cfp), [Tax Planning](https://blog.creekmurwealth.com/blog/tag/tax-planning)

## [Will the Infrastructure Bill Impact Taxes?](https://blog.creekmurwealth.com/blog/will-the-infrastructure-bill-impact-taxes)

 Posted by [Creekmur Staff](https://blog.creekmurwealth.com/blog/author/creekmur-staff) on 9:00 AM on June 8, 2021

[![](https://blog.creekmurwealth.com/hubfs/infrastructure%20-%20taxes.jpg)](https://blog.creekmurwealth.com/blog/will-the-infrastructure-bill-impact-taxes)

###### *Are you tired of hearing about taxes? You're not alone! Over the past year with all of the new government spending, talk of increasing taxes has been consistently present in the news-stream.*

But regardless of how we feel about taxes, there are a lot of new and changing developments in this national conversation. So, let's dive in.

[Read More](https://blog.creekmurwealth.com/blog/will-the-infrastructure-bill-impact-taxes)

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 Topics: [taxes](https://blog.creekmurwealth.com/blog/tag/taxes)

## [RMD's are Back!](https://blog.creekmurwealth.com/blog/rmds-are-back)

 Posted by [Creekmur Staff](https://blog.creekmurwealth.com/blog/author/creekmur-staff) on 9:00 AM on June 1, 2021

[![](https://blog.creekmurwealth.com/hubfs/canstockphoto29642448.jpg)](https://blog.creekmurwealth.com/blog/rmds-are-back)

#### Required Minimum Distributions are on for 2021, but some of the rules have changed. Here's what you need to know now.

---

[Read More](https://blog.creekmurwealth.com/blog/rmds-are-back)

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 Topics: [Taxes and retirees](https://blog.creekmurwealth.com/blog/tag/taxes-and-retirees), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes)

## [Tax 101: Is it Too Late to Contribute to my IRA or Roth IRA?](https://blog.creekmurwealth.com/blog/too-late-to-contribute)

 Posted by [Creekmur Wealth Advisors](https://blog.creekmurwealth.com/blog/author/creekmur-wealth-advisors) on 9:00 AM on February 25, 2021

[![](https://blog.creekmurwealth.com/hubfs/TAX%20INFO%20PICTURE.png)](https://blog.creekmurwealth.com/blog/too-late-to-contribute)

 

[Read More](https://blog.creekmurwealth.com/blog/too-late-to-contribute)

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 Topics: [IRA](https://blog.creekmurwealth.com/blog/tag/ira), [Roth IRA](https://blog.creekmurwealth.com/blog/tag/roth-ira), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes)

## [Why is Tax Planning Important?](https://blog.creekmurwealth.com/blog/why-is-tax-planning-important)

 Posted by [Andy Anderson, CFP®](https://blog.creekmurwealth.com/blog/author/andy-anderson-cfp) on 9:00 AM on February 18, 2021

[![](https://blog.creekmurwealth.com/hubfs/tax-planning-today-cta.png)](https://blog.creekmurwealth.com/blog/why-is-tax-planning-important)

Financial **planning** is a huge part of what we do here at Creekmur Wealth Advisors, so it's no surprise that tax **planning** is one area we spend a lot of time working in. When I talk about tax planning I am not talking about filling out and submitting your tax return every April 15th. Filing your taxes is necessary, but it's reactive or backward-looking. **Tax planning, on the other hand, is a forward-looking, comprehensive approach to reducing lifetime taxes and increasing overall after-tax wealth.**

[Read More](https://blog.creekmurwealth.com/blog/why-is-tax-planning-important)

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 Topics: [Financial Planning](https://blog.creekmurwealth.com/blog/tag/financial-planning), [Taxes in Retirment](https://blog.creekmurwealth.com/blog/tag/taxes-in-retirment), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes)

## [Tax 101 - How to Prepare for Tax Season](https://blog.creekmurwealth.com/blog/tax-101-prepare-for-tax-season)

 Posted by [Creekmur Staff](https://blog.creekmurwealth.com/blog/author/creekmur-staff) on 9:00 AM on February 8, 2021

[![](https://blog.creekmurwealth.com/hubfs/TAX%20INFO%20PICTURE.png)](https://blog.creekmurwealth.com/blog/tax-101-prepare-for-tax-season)

Ready or not - here it comes! Tax filing can be confusing and stressful. Here's a few things you can do to make this process a little smoother.   

[Read More](https://blog.creekmurwealth.com/blog/tax-101-prepare-for-tax-season)

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 Topics: [Tax withholding](https://blog.creekmurwealth.com/blog/tag/tax-withholding), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes), [Tax Forms](https://blog.creekmurwealth.com/blog/tag/tax-forms)

## [Tax 101: Basics of Form 1099](https://blog.creekmurwealth.com/blog/tax-101-form-1099)

 Posted by [Creekmur Staff](https://blog.creekmurwealth.com/blog/author/creekmur-staff) on 4:00 PM on February 1, 2021

[![](https://blog.creekmurwealth.com/hubfs/TAX%20INFO%20PICTURE.png)](https://blog.creekmurwealth.com/blog/tax-101-form-1099)

As tax time rolls around each year we all start getting the necessary documents for proper filing of our taxes. You're not alone if you find all of these important forms a little confusing! Besides the W-2 which is used to report wages, form 1099 is widely used for a variety of purposes. Here are the basics you need to know about this multi-functional form.

[Read More](https://blog.creekmurwealth.com/blog/tax-101-form-1099)

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 Topics: [taxes](https://blog.creekmurwealth.com/blog/tag/taxes), [Form 1099](https://blog.creekmurwealth.com/blog/tag/form-1099), [Tax Forms](https://blog.creekmurwealth.com/blog/tag/tax-forms)

## [That First RMD from Your IRA](https://blog.creekmurwealth.com/blog/thatfirstrmd)

 Posted by [Creekmur Staff](https://blog.creekmurwealth.com/blog/author/creekmur-staff) on 12:30 PM on October 22, 2019

[![2019-financial-to-do-list](https://blog.creekmurwealth.com/hubfs/2019-financial-to-do-list.jpg)](https://blog.creekmurwealth.com/blog/thatfirstrmd)

## *What you need to know.*

When you reach age 70½, the Internal Revenue Service instructs you to start making withdrawals from your traditional IRA(s).These withdrawals are also called Required Minimum Distributions (RMDs). You will make them, annually, from now on.1

If you fail to take your annual RMD or take out less than the required amount, the I.R.S. will notice. You will not only owe income taxes on the amount not withdrawn, you will owe 50% more. (The 50% penalty can be waived if you can show the I.R.S. that the shortfall resulted from a “reasonable error” instead of negligence.)1

Many IRA owners have questions about the rules related to their initial RMDs, so let’s answer a few.

[Read More](https://blog.creekmurwealth.com/blog/thatfirstrmd)

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 Topics: [Wealth Management](https://blog.creekmurwealth.com/blog/tag/wealth-management), [Roth IRA](https://blog.creekmurwealth.com/blog/tag/roth-ira), [Taxes and retirees](https://blog.creekmurwealth.com/blog/tag/taxes-and-retirees), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes)

## [Tax Considerations for Retirees](https://blog.creekmurwealth.com/blog/2018/11/27/tax-considerations-for-retirees)

 Posted by [Creekmur Wealth Advisors](https://blog.creekmurwealth.com/blog/author/creekmur-wealth-advisors) on 8:00 AM on November 27, 2018

 

## Are you aware of them?

**The federal government offers some major tax breaks for older Americans.** Some of these perks deserve more publicity than they receive.

[Read More](https://blog.creekmurwealth.com/blog/2018/11/27/tax-considerations-for-retirees)

 0 Comments [Click here to read/write comments](https://blog.creekmurwealth.com/blog/2018/11/27/tax-considerations-for-retirees#comments-listing)

 Topics: [charitable IRA gift](https://blog.creekmurwealth.com/blog/tag/charitable-ira-gift), [Credit for Elderly or Disabled](https://blog.creekmurwealth.com/blog/tag/credit-for-elderly-or-disabled), [Retirement](https://blog.creekmurwealth.com/blog/tag/retirement), [taxes](https://blog.creekmurwealth.com/blog/tag/taxes)

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- [News (1)](https://blog.creekmurwealth.com/blog/tag/news)
- [Privacy Protection (1)](https://blog.creekmurwealth.com/blog/tag/privacy-protection)
- [Roth 401k vs 401k (1)](https://blog.creekmurwealth.com/blog/tag/roth-401k-vs-401k)
- [Save (1)](https://blog.creekmurwealth.com/blog/tag/save)
- [Simple Retirement (1)](https://blog.creekmurwealth.com/blog/tag/simple-retirement)
- [Snowball effect (1)](https://blog.creekmurwealth.com/blog/tag/snowball-effect)
- [Stocks (1)](https://blog.creekmurwealth.com/blog/tag/stocks)
- [Successive Investment (1)](https://blog.creekmurwealth.com/blog/tag/successive-investment)
- [Tariffs (1)](https://blog.creekmurwealth.com/blog/tag/tariffs)
- [Tax defferred growth (1)](https://blog.creekmurwealth.com/blog/tag/tax-defferred-growth)
- [Teachers savings plan (1)](https://blog.creekmurwealth.com/blog/tag/teachers-savings-plan)
- [Team Approach (1)](https://blog.creekmurwealth.com/blog/tag/team-approach)
- [Trusted Contact (1)](https://blog.creekmurwealth.com/blog/tag/trusted-contact)
- [UFADDA (1)](https://blog.creekmurwealth.com/blog/tag/ufadda)
- [UTMA account (1)](https://blog.creekmurwealth.com/blog/tag/utma-account)
- [Uniting Personal Finances (1)](https://blog.creekmurwealth.com/blog/tag/uniting-personal-finances)
- [Wall Street Shocks (1)](https://blog.creekmurwealth.com/blog/tag/wall-street-shocks)
- [Women Investors (1)](https://blog.creekmurwealth.com/blog/tag/women-investors)
- [asset map (1)](https://blog.creekmurwealth.com/blog/tag/asset-map)
- [bull market (1)](https://blog.creekmurwealth.com/blog/tag/bull-market)
- [charitable donations (1)](https://blog.creekmurwealth.com/blog/tag/charitable-donations)
- [compounded interest (1)](https://blog.creekmurwealth.com/blog/tag/compounded-interest)
- [consumer debt (1)](https://blog.creekmurwealth.com/blog/tag/consumer-debt)
- [creating trust fund (1)](https://blog.creekmurwealth.com/blog/tag/creating-trust-fund)
- [cryptocurrency (1)](https://blog.creekmurwealth.com/blog/tag/cryptocurrency)
- [dollar cost averaging (1)](https://blog.creekmurwealth.com/blog/tag/dollar-cost-averaging)
- [emergency fund (1)](https://blog.creekmurwealth.com/blog/tag/emergency-fund)
- [get my credit score reviewed (1)](https://blog.creekmurwealth.com/blog/tag/get-my-credit-score-reviewed)
- [getting out of debt (1)](https://blog.creekmurwealth.com/blog/tag/getting-out-of-debt)
- [getting started (1)](https://blog.creekmurwealth.com/blog/tag/getting-started)
- [gold (1)](https://blog.creekmurwealth.com/blog/tag/gold)
- [grandchild education (1)](https://blog.creekmurwealth.com/blog/tag/grandchild-education)
- [identity theft (1)](https://blog.creekmurwealth.com/blog/tag/identity-theft)
- [impact of presidential elections (1)](https://blog.creekmurwealth.com/blog/tag/impact-of-presidential-elections)
- [paying off debt (1)](https://blog.creekmurwealth.com/blog/tag/paying-off-debt)
- [power of compounding (1)](https://blog.creekmurwealth.com/blog/tag/power-of-compounding)
- [risk of Alzheimers (1)](https://blog.creekmurwealth.com/blog/tag/risk-of-alzheimers)
- [rollover (1)](https://blog.creekmurwealth.com/blog/tag/rollover)
- [save early (1)](https://blog.creekmurwealth.com/blog/tag/save-early)
- [self-employed (1)](https://blog.creekmurwealth.com/blog/tag/self-employed)
- [volatility (1)](https://blog.creekmurwealth.com/blog/tag/volatility)
- [watch for Elder scams (1)](https://blog.creekmurwealth.com/blog/tag/watch-for-elder-scams)

See all

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