Year-End Tax Reduction Strategies (Part 2)

The Retirement Show: Your Life, Your Money with Scott Sierens

In this second part of our year-end tax reduction series, we dive deeper into actionable steps to reduce your long-term tax burden. If you missed part one, we discussed what makes up taxable income, tax planning vs. tax preparation, and got into some year-end tax planning strategies. In this episode, we’re shifting the focus to strategies you can implement now to minimize your future tax liability.

Stay tuned to learn about Roth conversions, charitable giving, and more ways to keep more money in your pocket. With the Tax Cuts and Jobs Act set to expire soon, now is the time to act. Listen today to avoid surprises come tax season!

Here’s some of what we discuss in this episode:

0:00 – Intro

4:12 – Roth conversions explained

9:27 – Charitable strategies

14:55 – When stock options should be exercised

16:44 – Tax harvesting

19:51 – The annual gift exclusion

22:03 – Avoiding the big surprise

Donor Advised Funds Video - https://youtu.be/RTZMTCrKqCs

Qualified Charitable Distributions Video - https://youtu.be/Q3amqWf_G-Y

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