Tax Planning Checklist: 10 Strategies to Minimize Your Tax Bill before Year-End скачать в хорошем качестве

Tax Planning Checklist: 10 Strategies to Minimize Your Tax Bill before Year-End

The end of the calendar year is a great time for tax planning! Join Eric Blattner and Kirby DeMoss from Divvi Wealth Management as they discuss 10 powerful tax planning strategies you can implement before December 31st: • Maximize Retirement Contributions: Learn how to leverage retirement accounts like 401(k)s and IRAs to reduce your taxable income. • Roth vs. Traditional: Understand the key differences between Roth and traditional accounts and choose the right one for your tax situation. • Roth Conversions: Uncover the potential benefits of converting your traditional IRA to a Roth IRA, even if you earn too much to contribute directly. • Tax Loss Harvesting: Discover how to offset capital gains and lower your tax bill. • Tax Gain Harvesting: Learn when and how to strategically realize capital gains to maximize your tax benefits. • Optimize Your Portfolio: Explore strategies for optimizing your asset allocation and location within taxable and tax-advantaged accounts. • Plan for Required Minimum Distributions: Understand the rules surrounding required minimum distributions (RMDs) and avoid potential penalties. • Estimate Your Income: Forecast your taxable income for the year and next year, pulling forward or deferring income to minimize tax liabilities • 529 Plans: Consider contributing to 529 college savings plans to benefit from tax-advantaged growth and future education expenses. • Charitable Giving: Maximize the impact of your charitable giving while reaping potential tax benefits. Don't miss out on these valuable tips! Watch now and take control of your year-end tax planning. Follow us: Website: www.divviwealth.com/blog YouTube: ‪@DivviWealthManagement‬ Instagram & Facebook: @divviwealth X (fka Twitter): @divviwealth Timestamps: 0:29 Review retirement contributions 0:50 Review traditional vs. Roth 401(k) 1:15 Consider Roth conversions, even if you earn too much to qualify for Roth contributions 1:59 Review tax loss harvesting opportunities 2:33 Review opportunities to harvest gains 3:13 Review asset allocation AND asset location 4:08 Review required distributions 4:42 Estimate income 5:23 Consider 529 funding opportunities 6:02 Give! Review charitable giving and potential tax benefits. DISCLAIMER: This video is for educational purposes only and does not constitute financial advice. #taxplanning #wealthmanagement #financialplanning