It’s that time of year – when we need to start thinking ahead to 2025!
In this special episode, Deb Meyer shares year-end tax planning strategies following the recent election. Highlights include:
- 2025 Tax Landscape: Potential extensions to the Tax Cuts and Jobs Act, changes to SALT deduction limits, and strategic timing for estimated tax payments.
- Electric Vehicle Credits: Tips on maximizing the $7,500 EV credit in 2024 and considerations for foreign car purchases ahead of tariff changes.
- Small Business Tax Planning: Importance of year-end projections, managing estimated taxes, and finding a proactive CPA.
- Additional Tax-Smart Strategies:
- 529 College savings plan contributions
- Tax-loss harvesting opportunities in taxable brokerage accounts
- Qualified Charitable Distributions for retirees
- Roth IRA conversions: when and why to consider them
Resources:
Listen in to learn more about :
(04:52) Electric Vehicle and Tariff Considerations
(12:36) Tax Loss Harvesting in Brokerage Accounts
(17:49) Roth IRA Wealth Transfer Strategy
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