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Episode 149: The Various Aspects of Tax Planning
In this episode of 'Retire with Style', Wade and Alex delve into various aspects of tax planning, focusing on strategies such as front-loading taxes, tax loss harvesting, and deduction bunching. They discuss the implications of tax filing status changes, particularly for surviving spouses, and the impact of the Secure Act on inherited IRAs. The conversation emphasizes the importance of strategic Roth conversions and planning for future tax rates, providing listeners with valuable insights into effective tax management in retirement. The discussion also highlights the potential benefits of front-loading taxes and the implications of the SECURE Act on retirement accounts. Listen now to learn more!
Takeaways
- Front loading taxes can increase after-tax wealth.
Chapters
00:00 Introduction to Tax Planning Conversations
05:12 Reasons to Front Load Taxes
08:01 Implications of Filing Status Changes
10:28 Embedded Tax Liabilities in Inheritance
12:39 Strategic Roth Conversions for Beneficiaries
14:51 Planning for Future Tax Rates
18:11 Tax Strategies for Retirement Planning
32:10 Maximizing Charitable Contributions
43:34 Future Tax Planning and Legacy Considerations
Links
The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/
This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips
View all episodes
By Wade Pfau & Alex Murguia
3.9
161161 ratings
In this episode of 'Retire with Style', Wade and Alex delve into various aspects of tax planning, focusing on strategies such as front-loading taxes, tax loss harvesting, and deduction bunching. They discuss the implications of tax filing status changes, particularly for surviving spouses, and the impact of the Secure Act on inherited IRAs. The conversation emphasizes the importance of strategic Roth conversions and planning for future tax rates, providing listeners with valuable insights into effective tax management in retirement. The discussion also highlights the potential benefits of front-loading taxes and the implications of the SECURE Act on retirement accounts. Listen now to learn more!
Takeaways
- Front loading taxes can increase after-tax wealth.
Chapters
00:00 Introduction to Tax Planning Conversations
05:12 Reasons to Front Load Taxes
08:01 Implications of Filing Status Changes
10:28 Embedded Tax Liabilities in Inheritance
12:39 Strategic Roth Conversions for Beneficiaries
14:51 Planning for Future Tax Rates
18:11 Tax Strategies for Retirement Planning
32:10 Maximizing Charitable Contributions
43:34 Future Tax Planning and Legacy Considerations
Links
The Retirement Planning Guidebook: 2nd Edition has just been updated for 2024! Visit your preferred book retailer or simply click here to order your copy today: https://www.wadepfau.com/books/
This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips
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