Retirement Unlocked

Year-End Tax Planning Unveiled: 10 Tips to Implement Before Year-End (Ep. 139)

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Tax loss harvesting – ever heard of it? It’s a strategy where you sell investments that have decreased in value to offset any gains and save on taxes.

In this episode, Larry Heller, CFP®, CDFA® overviews ten savings and tax planning tips to implement before the end of the year. He goes into detail on topics such as maximizing savings in retirement plans, choosing the right type of IRA or 401(k), doing backdoor Roth or Roth conversions, understanding changes in inherited IRA rules, and seeking professional advice for overall tax planning. 

Larry discusses: 

  • Tips on maximizing itemized deductions, using a donor-advised fund, tax loss harvesting, utilizing flexible savings accounts, and contributing to a 529 plan for education savings
  • New law allowing business owners to put a retirement plan in place retroactively
  • Choosing the right type of IRA or 401(k) based on individual circumstances and tax deductions
  • Backdoor Roth or Roth conversions for potential tax savings
  • Changes in inherited IRA rules and required minimum distributions 
  • And more

    • Resources:

    • Tending Your Investment Strategy With Tax Loss Harvesting (Ep. 115)
    • Using A Cash Balance Plan to Save Large Pre-Tax Dollars with David Yackel (Ep. 121)
    • Don’t Forget About Tax-Loss Harvesting and Tax-Gain Harvesting (Ep. 36)

      • Connect with Larry Heller: 

      • (631) 248-3600
      • Schedule a 20-Minute Call
      • Heller Wealth Management
      • LinkedIn: Larry Heller, CFP®, CPA
      • YouTube: Life Unlimited with Larry Heller, CFP®
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