Tax efficiency is a crucial piece of the puzzle. Tax planning should be done in your working years AND in retirement. The strategy is to minimize taxes over your lifetime. It is not only about reducing taxes in the current year. 

Long-term, multi-year tax minimization strategies may include managing income tax brackets and Medicare Part B & D premium brackets, tax loss harvesting, maximizing retirement contributions, understanding certain deduction and tax incentive phaseouts, and avoiding tax penalties and interest. Another strategy involves mulit-year Roth conversions from traditional IRAs.  Note that traditional IRA owners have considerations to make before executing a Roth IRA conversion.

Considerations for Roth conversion(s) primarily include income tax consequences on the converted amount in the year of conversion, withdrawal limitations from a Roth IRA, and income limitations for future contributions to a Roth IRA. In addition, if you are required to take a required minimum distribution (RMD) in the year you convert, you must do so before converting to a Roth IRA.