Tax Return Red Flags

Sheryl Rowling positions income tax returns as diagnostic tools — not merely a compliance document — and outlines four common red flags that suggest a client failed to take advantage of proactive tax strategies.

Here are "4 Tax Return Red Flags That Signal Poor Tax Planning":

1. Very Low or Zero Taxable Income
2. Charitable Giving After Age 70½ Without Using QCDs
3. Donating Cash Instead of Appreciated Securities
4. Holding Municipal Bonds in Low Tax Brackets

For our listener question: "I'm in a job I hate and would love to scale back to something that could pay less but be more enjoyable -- how can I evaluate if that is possible?". Most people think the first question is: "How much do I have saved?", but that's actually backwards. I share a calculation for cash burn that matters more than your portfolio balance.

And to wrap up the show in our "Retire to Something" segment, I'll share Jerry's story that shows us how retirement isn't about winding down — it's about doubling down on growth, adventure, and intentionally building an active, meaningful life.

Resource: Article by Sheryl Rowling on Morningstar: 4 Tax Return Red Flags That Signal Poor Tax Planning

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