On this episode of Your Retirement Elevated podcast with Scott Dougan, we explain why tax planning is so important, how the election could affect taxes and much more.
Consider this your end-of-year tax planning guide. Find out why tax planning is often a missing piece in people’s financial plans.
Read more and get additional financial resources here: https://wp.me/paeENs-9U
What we discuss on this show:
2:15 – Why tax planning is often a missing piece
5:38 – Itemization vs. standard deduction
7:48 – CPAs vs. financial planners
11:00 – Actions to consider before year end
15:29 – Making contributions next year
17:22 – Notable tax changes
20:42 – Other important tax considerations
26:11 – How the election could affect taxes
30:55 – Eliminating the step up in basis
