Our 2 Cents

Episode 157: Talking Turkey and Tax Planning


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On this episode of Our 2 Cents, Steve and Gabriel discuss various end-of-year tax planning topics to consider before 2023 comes to a close. But first, they're sharing educational and festive Thanksgiving fun facts!

  1. Thanksgiving Fun Facts:
    • Talking Turkey: The states that have towns named 'Turkey,' how many turkeys are prepared each Thanksgiving, a Butterball Turkey Talk line, and more turkey facts.
    • History facts about this long-standing tradition that you might not know.
  2. End-of-Year Tax Planning Tips:
    • The potential benefit of itemizing deductions, such as mortgage interest and charitable contributions, and "bunching" deductions to maximize tax savings.
    • The benefits of tax-loss harvesting, contributing to 529 plans, and taking Required Minimum Distributions (RMDs).
    • The advantages of Roth conversions, maximizing IRA contributions, and conducting a withholding analysis to avoid under-withholding penalties.
...more
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