ABOUT HOSTS

Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CEO & CFO of Pure Financial Advisors. He currently leads Pure Financial Advisors along with Michael Fenison and Joe Anderson. Alan joined the firm about one year after it was established. At that time the company had less than 100 clients and approximately $50 million of assets under management. As of [...]

Learn why the timing might be right for tax changes in this webinar from Your Money, Your Wealth® hosts Joe Anderson, CFP®, President of Pure Financial Advisors, and Big Al Clopine, CPA, Pure Financial’s CEO and CFO, moderated by YMYW podcast and radio producer Andi Last. Find out how provisions from the Tax Cuts and Jobs Act of 2017, the CARES Act Coronavirus stimulus package, and the SECURE Act affect your taxes and retirement planning, and strategies to legally minimize how much you owe in tax.

Schedule your Free Financial Assessment now, before the end of the year!

03:22 – Historical Marginal Income Tax Rates in the US

6:10 – Control what you can control: discipline, fees, risk and taxes

CARES Act Provisions:

07:02 – Coronavirus-Related Distributions

13:48 – Required Minimum Distributions (RMDs) waived in 2020

SECURE Act Provisions:

14:32 – Stretch IRAs eliminated

18:25 – IRA age limits removed

20:13 – RMD age changed

The Tax Law Time Bomb Affecting Your Retirement

21:57 – Taxable Income Rates & Capital Gains Tax Rates

25:30 – Tax Diversification: how is your balance of tax-free, tax-deferred and taxable money?

32:28 – Understanding the Roth IRA Conversion strategy

33:13 – When Not to Do a Roth Conversion: Zero Capital Gain Rates, 20% QBI Deduction, IRMMA, Understanding Pro-Rata

TAX PLANNING TIPS

42:20 – Tax Loss Harvesting

44:26 – Tax Gain Harvesting

45:04 – Backdoor Roth IRA Conversion Strategy

45:49 – Net Unrealized Appreciation (NUA)

46:30 – Charitable Gifting Strategies: Donor Advised Fund

QUESTIONS:

11:02 – If you take $100K and repay $33.33K per year back into retirement accounts over next three years – does that mean NO taxes paid?

12:43 – Are there any tax repercussions for receiving a $1200 per person CARES Act stimulus payment?

20:30 – Curious about inheritance taxes (“death taxes”)

28:51 – If I believe taxes will be on the rise (govt debt, politics, etc), should I focus more on accelerating Roth Conversions or Long Term Capital Gains harvesting in the near term? Basically I’m curious if LTCGs or Ordinary Income rates have historically been more sensitive during rising tax periods.

48:16 – Historically, if tax law changes mid-year, is the date the change becomes effective typically delayed until the following year allowing investors to make the appropriate estimated taxes? Basically, would a 2021 tax change likely not be effective until 2022 allowing for additional Roth Conversions and LTCG harvesting in 2021 ahead of rising tax rates?

50:01 – Do you have to take a RMD if still working at 72?

51:35 – For tax-loss harvesting, Joe said there could be a shadow purchase. Does that mean the $10 stock is sold at $5, tax harvested, and then the same amount of the same stock is now purchased at $5?

52:50 – I’m having a solar battery system installed; what do you know about the Federal and state (CA) rebates?

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IMPORTANT DISCLOSURES:

Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.

Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with a tax advisor or attorney regarding specific situations.

Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.

Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.

All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.

Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.