Practically everyone considering moving in retirement jumps to detailed areas like domicile and taxes. Who you will be in retirement is a critical consideration so you can understand where and in what type of home you’ll live.

Market watches saw some dramatic volatility throughout the week across most indices. What factors are causing the volatility, and what does it mean? Annex Wealth Management’s Mark Beck and Todd Voit discuss.

A recent survey called the Consumer Financial Behavior Study found that a household with $1.2 million in assets reported higher levels of happiness when working with a financial advisor compared to those who didn’t have an advisor.

In our latest poll, we asked readers: How much money does a household need to work with a financial advisor?

The majority of respondents answered, $0 – $249,999.

That’s another example of the sophistication of the typical Axiom reader. While the general population might see a need as your assets cross the $1 Million mark, there’s an excellent chance your need will be present long before then. In fact, an advisor might help you get to the mythic million-dollar goal.

In many cases, the complexity of your plan increases as your wealth does – but that shouldn’t preclude consulting an adviser to understand where you are and how you should approach your current situation.

If you’re interested in understanding how Annex can help, visit with us for a Wealthmetric today.


You’re probably already receiving tax documents from many sources, including your employers, investment firms, and more. So, you know what time it is: time to get yourself organized and prepared to file your 2021 tax returns.

One easy way to keep yourself from being overwhelmed is to create a folder on your computer’s desktop. Or maybe it’s a real folder on your real desktop or kitchen counter. In either case, create a perfect place to stash incoming tax documents.

Some of the personal information you may need:

  • Social Security numbers and dates of birth for you, your spouse, and your dependents
  • Copies of last year’s tax return for you and your spouse are helpful. (If you filed using one of the popular tax filing websites, they may have archived a copy for you online)
  • Bank account number and routing number for making a payment or receiving a refund

As you start receiving information on your income sources, make sure you review your withholding. Taxes can be withheld from income sources such as wages, pensions, social security, and more. As time goes by, your circumstances and tax laws may change. It’s wise to periodically review your withholding.

Information about your income you may need, if applicable:

  • W-2 forms for you and your spouse
  • Investment income—various Forms 1099 (-INT, -DIV, -B, etc.), K-1s, stock option information
  • Income from state and local income tax refunds and/or unemployment: Forms 1099-G
  • Business or farming income—profit/loss statement, capital equipment information
    • If you use your home for business—home size, office size, home expenses, office expenses
  • IRA/pension distributions—Forms 1099-R
    • If all or part of your distributions went directly to charity as a qualified charitable distribution (QCD), distributions will generally be tax free. However, the 1099-R will not provide this information, so it is important to provide the QCD amount with any related 1099-R
  • Rental property income/expense—profit/loss statement, capital asset information
  • Social Security benefits—Forms SSA-1099
  • Income from sales of property—original cost, cost of capital improvements, total amount depreciated, closing statement, 1099-S if received
  • Other miscellaneous income—jury duty, gambling winnings, Health Savings Account (HSA) distributions – Forms 1099-SA, scholarships, etc.

Deductions and credits:

Here are some examples of deductions and credits that may help to reduce your taxable income or reduce the amount of tax you owe.

  • IRA contributions – Forms 5498
  • Student loan interest – Forms 1098-E
  • Health Savings Account (HSA) contributions – Forms 5498-SA
  • Educator expenses
  • Child-care costs
  • Adoption costs
  • Home mortgage interest and points you paid — Forms 1098
  • Medical and dental expenses (including medical miles driven)
  • Charitable contributions

Taxes you’ve paid:

Keep track of the taxes you’ve already paid so you can prevent overpaying:

  • State and local income taxes paid
  • Real estate taxes paid
  • Estimated tax payments made during the year, prior year refund applied to current year, and any amount paid with an extension to file.