076 - Financial Planning Issues to Consider Before Year-End

Real Personal Finance

In this week’s episode of Real Personal Finance, James and Scott discuss end of year tax planning. As the year comes to an end, we want to make sure your income and investments are in order. Whether you had a year of financial gain or financial loss we help you use that to your advantage, no matter your tax bracket.

Time Stamps:

00:28 - Year-end tax planning

01:00 - Core concepts to focus on for EOY planning

01:44 - Harvesting gains or losses in your portfolio

04:30 - Tax gain harvesting

06:55 - Planning for future higher income and how it impacts your tax bracket

08:13 – Planning for future lower income

10:00 - Charitable donation changes with the passage of the CARES Act

13:45 - Tax planning with stock compensation

15:14 - Cash flow

18:34 - 529 plans

19:41 - HSA vs. FSA

22:17 - Estate planning

23:13 - Roth conversions

25:04 - Conclusion

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James

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Scott

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