In today’s episode we’ll discuss some of the main financial planning topics you may want to consider before the end of the year. We cover wages, retirement contributions, and investment income as potential drivers of tax liability. Required Minimum Distributions (RMD) and Qualified Charitable Distributions (QCD) emerge as two key opportunities for retirees to take advantage of before the year ends.

[01:42]: Updating Your Income

[02:31]: Withholding for Salaried Employees

[03:37]: Quarterly Estimated Payments for Self-Employed Individuals

[05:38]: Retirement Contributions

[07:53]: Roth Conversions

[08:59]: Taxable Investments and Gain Distributions

[11:00]: Required Minimum Distributions

[13:30]: Qualified Charitable Distributions

[14:56]: QCDs + RMDs

[16:23]: Closing Thoughts

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Show Notes & Transcript:
https://abundantadvisors.com/podcast/ep-5-the-clock-is-running-out

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Disclosure:

Abundant Advisors, LLC, is an Investment Advisor registered with the State(s) of North Carolina. All views, expressions, and opinions included in this communication are subject to change. This communication is not intended as an offer or solicitation to buy, hold, or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets, or developments mentioned. We may, from time to time, have a position in the securities mentioned and may execute transactions that may not be consistent with this communication's conclusions. Our current disclosure brochure, Form ADV Part 2, is available for your review upon request and on our website, https://www.abundantadvisors.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.