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5 tax tips for retirees

Nobody wants to pay taxes, least of all retirees who often don't have a lot of money to begin with. Fortunately, there are steps you can take as a retiree to minimize your tax burden. Here are a few tips to help you get started. 1. Prepare to be taxed on your savings withdrawals Unless you have a Roth IRA, the money you withdraw from your retirement savings is subject to ordinary income tax.
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