In this episode of Retire in Texas, Darryl Lyons offers a general year-end reminder list to help listeners stay organized as they review their financial and tax-related items. As the year closes, Darryl walks through several topics that individuals and families may want to revisit with their tax or financial professionals.
He breaks the discussion into four broad areas:
Considerations such as reviewing pay stubs, retirement distributions, and personal budgeting tools to help ensure your information is accurate.
General guidance on contribution deadlines, RMD requirements, Roth conversion considerations, and recent legislative updates.
An overview of options like Qualified Charitable Distributions and donor-advised funds that some people use as part of their charitable giving approach.
Information on 529 plans, medical account deadlines, the annual gift-tax exclusion, and the new age-related deduction created under recent legislation.
Darryl also shares personal observations and real examples that illustrate how these year-end reviews can help individuals stay aware of key requirements.
This episode provides general educational information only and is not intended to provide specific investment, tax, or legal advice. Listeners should consult their tax professional, CPA, or financial advisor before making decisions related to their personal situation.
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