If you're a business owner, high-income earner, or someone who simply wants to stop leaving money on the table, this episode lays out six powerful year-end tax strategies you can still take advantage of before December 31. These are the moves that help reduce taxes, create long-term advantages, and bring real clarity to your financial picture.
In this quick yet high-impact conversation, Jason Labrum and Alex Klingensmith break down the exact steps our clients take every December, from fully funding retirement plans and executing Roth conversions to using donor-advised funds and maximizing tax-loss harvesting. Each strategy can create meaningful tax savings when implemented correctly and tailored to your financial situation.
If you've ever wondered, "What should I be doing before year-end to avoid overpaying the IRS?" This episode is your guide.
What We Cover in This Episode
📌 How fully funding retirement plans can still reduce 2024 taxable income
📌 When Roth 401(k) and Roth conversions make sense
📌 Why business owners should consider cash balance and defined benefit plans
📌 How a cost segregation analysis can put hundreds of thousands back in your pocket
📌 The right way to use Qualified Charitable Distributions (QCDs)
📌 Tax loss harvesting strategies, and the biggest mistakes to avoid
📌 Why donor-advised funds are a powerful tool for high earners and families focused on legacy
Every one of these strategies becomes more effective when tailored to your goals, especially for entrepreneurs and successful professionals who want clarity and confidence in their financial decisions.
💬Book a Consultation with us
Want a personalized review of your year-end planning?
Schedule your free, no-obligation Retirement Clarity Session today and discover what's possible with cash-flow based planning, tax strategies, and a life-first approach.
📺 Watch us on YouTube
📬 Contact Jason directly: Jason@financialdetox.com
🌐 Learn more: https://idawealth.com
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Disclosure
The Financial Detox podcast is provided by Intelligence Driven Advisers, LLC ("IDA"), an SEC registered Investment Adviser; however, such registration does not imply a certain level of skill or training. Any references to SEC registration are not an endorsement or indication of approval by the SEC.
The information presented in this podcast is intended for general informational purposes only and should not be construed as specific tax, legal or investment advice. Participants are strongly encouraged to consult with their personal advisers regarding their specific financial and tax situation. Investing involves risk and there is always the potential for loss. Past performance is not necessarily indicative of future results.
Information provided reflects IDA's views as of a particular time. Such views along with tax laws and regulations are subject to change at any point and IDA shall not be obligated to provide notice of any change.
IDA makes no representations or warranties, express or implied, regarding the accuracy, completeness, or reliability of the information presented in this podcast. The firm disclaims any liability for errors or omissions in the information or for any actions taken in reliance on the information provided herein.
