Small tax law changes can make a big difference in your retirement strategy. In this episode of Elevate Wealth, Clarke Holt and Deanne Rosso dive into why proactive tax planning is essential for maximizing your retirement savings.In This Video, You’ll Learn:

✅ How tax brackets and deductions for 2025 impact your retirement.

✅ Why staying ahead of tax changes can help you minimize your tax burden.

✅ The importance of optimizing withdrawals and using tax-advantaged accounts like HSAs and FSAs.

At Elevate Wealth Advisory, we specialize in aligning retirement plans with smart tax strategies to help your savings last longer. Want to optimize your tax plan for retirement? Visit elevate-wealth.com and click “Let’s Talk” for personalized advice.

🔔 Don’t forget to subscribe for more retirement tips, tax strategies, and wealth management insights.

🔗 Website: https://elevate-wealth.com

🔗 Facebook: https://www.facebook.com/elevatewealthadvisory

🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/🔗Download our handy checklist: "What Issues Should I Consider at the Start of the Year?": https://elevate-wealth.com/wp-content/uploads/2024/01/what-issues-to-consider-start-of-year-2024.pdf

🔗Download our 2025 Key Financial Data card: https://elevate-wealth.com/lifelong-learning-library/

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Small tax law changes can have a big impact on your retirement strategy. We'll explain today on Elevate Wealth. Hi, I'm Clarke Holt with Elevate Wealth Advisory and I'm happy again to have Deanne Rosso with us, our president and CEO/ Thanks again, Deanne. Hey, Clarke, I'm glad to be here. So the new numbers for tax brackets and deductions for 2025 have come out. So just help us understand what proactive tax planning means. Oh, that's a great question. I think that tax planning is the often overlooked hidden gem of financial planning. There are so many things in financial planning that we can't control. We can't control markets. We can't control governments. We can't control the political scene. But what we do have some sense of control over is taxes. And so when tax laws change, what we need to do is we need to pivot, and we need to change our financial plans and how we're doing things financially in order to take advantage of whatever the tax landscape is at the time. So for instance, right now you know as we as we're in a New Year, limits increase so 401K contribution limits increased, Health Savings Account limits increased, so we can take advantage of those things. The tax brackets, the amount of income that you can take in each marginal tax bracket increased a little bit, so that helps you make sure that you are minimizing the income tax that you pay on the income that you earn also in retirement. It's just really important in those working years to save in the right ways so that by the time you get to retirement you have different sources of income that you can pull the levers on in order to maximize how you take that income to minimize your income tax. So tax planning is more than just a small thing. I think it's a huge thing overall in retirement income planning. So I think it's so important that at Elevate Wealth one of the things that we do is we align our clients' retirement income strategies with smart tax strategies, ensuring that their savings will last longer and work harder for them. Absolutely, that's right, so if you want to optimize your tax plan feel free to reach out at elevate-wealth.com and click, "Let's talk." Thanks!

💰 What Are the 2025 Updates for Estate Planning and Gift Taxes? 🏡Planning to pass on wealth to your heirs? The 2025 updates bring greater flexibility to estate planning and gift taxes, helping you preserve more of your legacy. In this episode of Elevate Wealth, Clarke Holt and Deanne Rosso break down the latest changes and how you can take advantage of them.You’ll Learn:✅ Increased estate tax exclusion of $13.99 million for 2025 – pass on more tax-free!✅ Annual gift tax exclusion rises to $19,000 per recipient.✅ How to structure gifts and plan your estate with tax efficiency in mind.🌟 If you’re looking to create a tax-efficient strategy for transferring wealth, we’re here to help. Visit elevate-wealth.com and click “Let’s Talk.”🔔 Subscribe for more tips on estate planning, wealth transfer strategies, and building a lasting legacy.🔗 Website: https://elevate-wealth.com

🔗 Facebook: https://www.facebook.com/elevatewealthadvisory

🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/

🔗Download our handy checklist: "What Issues Should I Consider at the Start of the Year?": https://elevate-wealth.com/wp-content/uploads/2024/01/what-issues-to-consider-start-of-year-2024.pdf

🔗Download our 2025 Key Financial Data card: https://elevate-wealth.com/lifelong-learning-library/

Are you planning to pass on wealth to your heirs? The 2025 tax updates offer increased flexibility. We'll lay it all out today on Elevate Wealth. Welcome back to Elevate Wealth. I'm Clarke Holt. I'm your host again this week, and I'm happy to have with me Deanne Rosso, our president and CEO. Thanks, Deanne, for being here. Good to see you, Clarke. So, Deanne, many of our clients enjoy giving to their families. What's changed from 2024 to 2025 when it comes to Estate Planning and gift taxes? Oh, that's a great question. You know, a lot of our clients do as you just said, they enjoy making gifts their families, whether that's during their lifetime or planning for their estate to leave funds to their heirs, or their friends and their family. So what's changed from 2024 to 2025 is the estate tax exclusion has actually risen to 13.99 million and what that means is any individual can leave $ 13.99 million to their heirs and their estate before any type of federal estate tax is triggered, so that's a really high level. Also, you can double that between spouses when the first spouse passes away, they can leave 13.99 million, and then when the second spouse passes away they can leave 13.99 million, and also any of the remainder of the spouse that predeceased them, they can leave that amount too. So a couple can effectively leave almost $28 million in assets to their heirs before any federal estate tax is triggered/ So that's a really nice high exemption amount from federal estate tax. But sometimes as you know in our office we tell our clients or our clients kind of tell us like we would prefer to give with a warm hand rather than a cold one, meaning you know we want to make gifts to our friends and our family during our lifetime rather than at death, and so that's where gift tax comes in. You can give this year, that gift tax limit has also increased to $19,000 per person, so any individual can give $19,000 to any other individual before they have to report it and before there's any type of gift tax imposed on that. It also doubles with spouses, as well. That's a really easy one to keep in mind that I can give $19,000 to any individual I choose and I can give $19,000 to my son and I can give $19,000 to my husband, I can give $19,000 to my brother and I give $19,000 to my next-door neighbor, but as long as I don't go over $19,000 per individual there's no filing that I have to do for gifting. Fantastic. Thanks, Deanne. Sure! At Elevate Wealth, we specialize in helping retirees create tax efficient strategies for transferring wealth to the next generation. Let us help you protect your legacy. Visit elevate-wealth.com and click, "Let's Talk. Thanks!

💡 Why Is Tax Planning So Important for Your Retirement? 🏖️Small tax law changes can make a big difference in your retirement strategy. In this episode of Elevate Wealth, Clarke Holt and Deanne Rosso dive into why proactive tax planning is essential for maximizing your retirement savings.You’ll Learn:✅ How tax brackets and deductions for 2025 impact your retirement.✅ Why staying ahead of tax changes can help you minimize your tax burden.✅ The importance of optimizing withdrawals and using tax-advantaged accounts like HSAs and FSAs.🌟 At Elevate Wealth Advisory, we specialize in aligning retirement plans with smart tax strategies to help your savings last longer.👉 Want to optimize your tax plan for retirement? Visit elevate-wealth.com and click “Let’s Talk” for personalized advice.🔔 Don’t forget to subscribe for more retirement tips, tax strategies, and wealth management insights.

🔗 Website: https://elevate-wealth.com

🔗 Facebook: https://www.facebook.com/elevatewealthadvisory

🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/

🔗Download our handy checklist: "What Issues Should I Consider at the Start of the Year?": https://elevate-wealth.com/wp-content/uploads/2024/01/what-issues-to-consider-start-of-year-2024.pdf

🔗Download our 2025 Key Financial Data card: https://elevate-wealth.com/lifelong-learning-library/

#AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #YearInReview #MarketRecap #StockMarket #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #WealthAdviceForYourBestLife #RetirementPlanning #FinancialGoals #ElevateWealth #SaveMore #2025Tips #WealthManagement #EstatePlanning #GiftTaxes #WealthTransfer #TaxStrategies #ElevateWealth #LegacyBuilding #FinancialPlanning #TaxPlanning #RetirementStrategy #TaxEfficiency #FinancialPlanning #ElevateWealth #RetirementSavings #TaxAdvantage

What’s New for FSAs, MSAs, and HSAs in 2025? Are you confused by FSAs, MSAs, and HSAs? Don’t worry – we’re here to break it down for you in this episode of Elevate Wealth! Clarke Holt and Deanne Rosso walk you through these healthcare savings options and explain how recent updates for 2025 can benefit your retirement strategy.In This Video, You’ll Learn:✅ What are FSAs, MSAs, and HSAs, and how do they differ?✅ Updated contribution limits for FSAs, HSAs, and MSAs in 2025.✅ How to make the most of these tax-advantaged accounts to save more on healthcare and reduce your taxable income.Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!

🔗 Website: https://elevate-wealth.com

🔗 Facebook: https://www.facebook.com/elevatewealthadvisory

🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/

🔗Download our handy checklist: "What Issues Should I Consider at the Start of the Year?":

https://elevate-wealth.com/wp-content/uploads/2024/01/what-issues-to-consider-start-of-year-2024.pdf

🔗Download our 2025 Key Financial Data card:

https://elevate-wealth.com/lifelong-learning-library/

#AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #YearInReview #MarketRecap #StockMarket #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #WealthAdviceForYourBestLife#RetirementPlanning #FinancialGoals #ElevateWealth #SaveMore #2025Tips #WealthManagement

FSAs, MSAs, HSAs...are you confused? We're here to help today on Elevate Wealth. Hi, I'm Clarke Holt, and I'm your host this week on Elevate Wealth, and I'm so happy to have with me again my colleague and our president and CEO Deanne Rosso. Welcome back, Deanne. Thanks, Clarke, glad to be here. So, Deanne, first, can you explain what FSAs, MSAs, HSAs are and also how they differ. Sure, so fFSAs, MSAs, HSAs, all are acronyms, but one thing they all have in common is they're all for medical expenses. So what the acronyms stand for is Flexible Spending Account or a Medical Savings Account or a Health Savings Account, and depending on the type of health plan that your employer offers and depending on the type of account they offer, whether it's the FSA, the MSA, or the HSA, will depend on how much you can contribute to it and how much that will help your taxes and your health care costs. It seems like all these are getting updated for 2025, so how can someone take advantage of these changes? Sure. So the update for 2025 is that the contribution levels for all three of those types of plans is increasing. So for FSAs, for example, those have increased to $3,300 that you can contribute to those for this year. HSAs are now at $4,300 for individuals and $8550 for families, so those adjustments when we're allowed to put in a little bit more into any of those types of accounts it just means that we get to put a little bit more aside tax-free in order to help us pay for out-of-pocket medical expenses, so make sure that you make that adjustment if you are contributing to those types of plans in order to increase the amount you have available for you and your family's healthcare costs. That's awesome, Deanne, thanks. And for those of you tuning in if you're looking to integrate healthcare savings into your retirement strategy, we're here to guide you. Visit elevate-wealth.com and click "Let's talk." See you soon.

In this episode of Elevate Wealth, Clarke Holt is joined by Deanne Rosso, President & CEO of Elevate Wealth Advisory, to break down the IRS updates for 2025 and their potential impact on retirement planning.Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips!

🔗 Website: https://elevate-wealth.com

🔗 Facebook: https://www.facebook.com/elevatewealthadvisory

🔗 Instagram: https://www.instagram.com/elevatewealthadvisory/

🔗Download our handy checklist: "What Issues Should I Consider at the Start of the Year?": https://elevate-wealth.com/wp-content/uploads/2024/01/what-issues-to-consider-start-of-year-2024.pdf

🔗Download our 2025 Key Financial Data card: https://elevate-wealth.com/lifelong-learning-library/

#AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #YearInReview #MarketRecap #StockMarket #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #WealthAdviceForYourBestLife#RetirementPlanning #FinancialGoals #ElevateWealth #SaveMore #2025Tips #WealthManagement

The IRS has announced updates to the standard deduction and tax brackets for 2025. What does this mean for your retirement plan? We'll explain, today on Elevate Wealth. Hi, I'm Clarke Holt with Elevate Wealth Advisory, and I'm very happy to have with me our president and CEO Deanne Rosso. Deanne! Thank you. So, Deanne, you're always really great at keeping up with and reviewing the changes to the key financial numbers going into the new year. So, let's talk about a big one today/ What changes are going on with the standard deduction? Oh, that's a good question. So yes, you know I'm a tax nerd, so I love talking about all things tax planning. So for 2025, the standard deduction has increased for single filers to $15,000 and for married filing joint $30,000, and what that means is that can help reduce your taxable income. The marginal tax rates remain the same, but the income thresholds for each of those marginal rates has increased a bit as well. Okay, can you give me an example? Yeah, sure. So, for instance, the 12% income tax bracket is now at $ 48,475 for single filers, and that is $95,000 I'm sorry $96,900 for married filing joint clients. And what that means is you just get a little bit more income that you can have and pay 12% taxes as opposed to last year, it was a little bit lower, and you would jump up to the next 22% bracket a little bit faster. Right right. And so this is important why? It's important because if you're in your accumulation years, your working years, you're working and earning income, that means you get a little bit more income that you can take and pay the same or a little bit less in tax in retirement. It's really important because when we're working on like for with our clients, for example, on their retirement income strategies, it just means again that you have a little bit more retirement income that you could take from a taxable source - like an IRA or your 401k or 403b - before you jump up to the next tax bracket. So it's just basically to keep up with inflation a little bit more income that you can take and stay at the same tax level or tax rate that you're at now. Great advice, Deanne! Thank you. And you know at Elevate we help clients with their tax planning in order to minimize taxes over their lifetime. If you need help optimizing your tax plan, reach out! Visit us at elevate-wealth.com and click "Let's talk!" Thank you.

🎉 New Year, New Goals! Retirement Saving Strategies for 2025 🕰️Start the year off right with actionable tips to boost your retirement savings! In this episode of Elevate Wealth, Clarke Holt and Deanne Rosso dive into smart strategies you can implement now to make the most of 2025. 💡What You’ll Learn:✅ New 401(k) contribution limits for 2025 – increase your savings potential!✅ IRA and ROTH contribution rules and how to take advantage of them.✅ How to make the most of a raise – save more without feeling the pinch.💬 Need an accountability partner or expert advice? We’re here to help you create a customized retirement strategy.👉 Visit elevate-wealth.com and click “Let’s Talk” to start your journey toward financial freedom.🔔 Subscribe for more tips on retirement planning, wealth management, and achieving your financial goals.#RetirementPlanning #FinancialGoals #ElevateWealth #SaveMore #2025Tips #WealthManagement

it's a new year and the best time to implement strategies to save for retirement. We'll help you map it out today on Elevate Wealth.

Hi, I'm Clarke Holt with Elevate Wealth Advisory and I'm very happy to have with me my colleague and our CEO and President Deanne Rosso. Hey Clarke. Welcome Deanne. Thank you, So Deanne, people around the world are making New Year's resolutions for 2025, and one of the big ones that we hear a lot is getting their finances in order or getting their finances in place. What are some things people can do right now to save more money for retirement? Sure, that's a great question, you know the two top New Year's resolutions: save more money, lose weight. So today, let's talk about saving money. There are quite a few things that you can do and you can implement right at the beginning of a year and especially to meet those goals in your New Year's resolutions, if you will, of saving more money. So first thing is the 401K salary deferral limit increased this year, so if you already maximize what you can put in your 401k, you might just want to go into your payroll system, make sure to bump that up by $500. So the new salary deferral limit for 2025 is $23,500, or if you're not maximizing or you're just saving, just start now to save in your 401k, or bump up your savings rate a little bit. That's a good way to kick off your New Year's savings goals. So that's one strategy is saving in your 401k. Another one is contributing to your IRA. So Ira contributions this year did not change. They're still $7,000 if you are under age 50, or you get an extra thousand to bump that up to $8,000 if you're over age 50 this year, but if you haven't contributed to an IRA or a Roth before, make plans to do that. That's a good way to either get tax deferral on that money in an IRA or get money that's tax-free later if you save in a Roth. So planning to do that um is another good strategy. Lastly, for this podcast anyway, if you got a raise this year or if you're planning on getting a bonus, maybe plan how you're going to use it before you get it. And if saving more is a New Year's resolution of yours, maybe you should plan to set some or all of that raise aside this year, using your 401k or using an IRA or a Roth, or just in a savings account. Or if you get a bonus, map out how you're going to utilize that bonus before you actually get the money. That helps us make sure we've got a plan for it before it's actually in hand, and we know that cash tends to evaporate once it gets in hand. So. Great ideas. Thanks, Deanne. And as we mentioned a bunch last year, having an accountability partner really helps us stick to our plan over time. If you need help setting up a strategy for saving for retirement, we're here to help. Visit elevate-wealth.com and click "Let's Talk!" Thanks!

🎯 The Secret Sauce to Achieving Your Goals 🎯What’s the common thread among top athletes, successful entrepreneurs, and high achievers? Accountability!In this episode of Elevate Wealth, Gary Stoller and Deanne Rosso reveal:✔ Why accountability is the key to success✔ How a coach or accountability partner can help you crush your goals✔ The simple steps to finding your own “secret sauce” for personal growthAs we wrap up 2024, it’s the perfect time to set resolutions for the new year. Whether your goals include financial fitness, physical wellness, or new challenges, having someone in your corner makes all the difference.Visit elevate-wealth.com to start your journey with the right support.👉 Accountability is the secret sauce! 🏆

💡 You Can’t Out-Grow What You Don’t Save 💡Are your saving habits fueling your financial goals?In this episode of Elevate Wealth, Gary Stoller and Deanne Rosso of Elevate Wealth Advisory discuss:✔ Why savings are the foundation of financial growth✔ How poor saving habits can hold you back, even in a booming market✔ Practical tips to start saving, no matter where you are in your journeyDon’t let 2025 slip by without making progress toward your financial goals. Start small, save consistently, and watch your efforts compound!Visit elevate-wealth.com for expert guidance on building a strong financial foundation.👉 Every little bit counts! 💰

Celebrating small wins is the secret to staying motivated as you work toward your financial goals!

In this episode of Elevate Wealth, Gary Stoller and Deanne Rosso discuss:
✔ The importance of rewarding milestones
✔ How small rewards keep you on track
✔ Creative ways to celebrate financial wins

Remember, progress is worth celebrating—even the small steps! Listen now to learn how rewarding yourself can make achieving your financial goals even sweeter.

To learn more about the steps to help achieve your financial goals, visit elevate-wealth.com and click "Let's Talk!"

Ready to Get Fit Financially? In this episode of Elevate Wealth, Gary Stoller and Deanne Rosso share practical strategies for building your financial fitness, just like you would your physical fitness.

Learn how to:
✔ Set realistic financial goals
✔ Create a simple, actionable 3-step plan
✔ Build lasting habits for long-term success

Whether you’re looking to eliminate debt, save for retirement, or tackle another financial goal, this episode provides the tools to get started without the overwhelm.

Listen now and visit elevate-wealth.com to see how our team can help you reach your financial resolutions. Let’s make 2025 your best financial year yet! 🎉

To explore more about setting achievable financial goals, visit elevate-wealth.com and click "Let's Talk!"