How to minimize tax impacts

[smutski66]

How do I minimize the tax impact living entirely off of Social Security and Retirement Account Distributions?

[VincentL12345]

My suggestion is to focus on your tax bracket in determining the impact of taxes on your income. If you can fill up the bracket without going to a higher bracket. I do not know your tax bracket but here is an example: Tax Brackets and Rates, 2021 22% $40,526 to $86,375 $81,051 to $172,750 24% $86,376 to $164,925 $172,751 to $329,850 32% $164,926 to $209,425 $329,851 to $418,850 35% $209,426 to $523,600 $418,851 to $628,300 Using the above bracket amounts of $40,526 to $86,375. If your adjusted gross income is $50,000, you will not enter a higher tax bracket until you make $36,375 more to fill up the bracket. Do not forget to withdraw your standard deduction amount from your gross income to arrive at your adjusted gross income.