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03/15/2013 11:41 am ET Updated Mar 22, 2013

Tax Changes Affect Retirement Planning

(MoneyWatch) Tax strategies play a huge role when it comes to planning for retirement. Recent changes in the law, as well as the likelihood of taxes going up in the future, mean it may be time to re-examine your tax planning.

For a long time, the basic tenet of planning for taxes in retirement was that you should count on making less money and being in a lower tax bracket. But this may no longer be true. For one thing, the American Tax Payer Relief Act of 2012 has already introduced new, higher taxes for many people.

Read more on CBS News

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