Does just thinking of your taxes give you butterflies in your stomach? You’re not alone. Feeling powerless and not having a strategy to reduce your taxes may cause you to completely ignore tax planning.
Whether you are having a good year, recovering from loses or just working to stay the course; financial experts Joe Anderson and Alan Clopine break down strategies that can help you minimize the money you pay in taxes.
Important Points:
(00:33) – End of Year Taxes
(01:01) – Federal Income Taxes – Different Wage Brackets
(02:30) – Money Saving Year-End Tax Strategies
(02:52) – Tax Strategies for Employees
(03:08) – Retirement Plan Taxes for Employees
(04:48) – New Tax Law Changes for Individuals (Standard Deductions, Itemized Deductions, Charitable Donations)
(07:55) – 2018 Tax Planning Checklist – Download Here
(08:48) – Tax Loss Harvesting
(11:40) – Tax Gain Harvesting
(12:53) – Tax Diversification: Taxable, Tax-Free, Tax Deferred Income
(16:28) – Qualified Charitable Distribution
(18:23) – Maximizing Retirement Plan Contributions
(19:05) – Considering Charitable Strategies (Bunching Donations, Donor Advised Fund, Qualified Charitable Distribution)
(20:29) – Reviewing Your Investments (Tax Loss and Tax Gain Harvesting Opportunities)
(21:21) – Roth Conversions
(22:04) – Maximizing Tax Strategies for Small Business Owners
(23:11) – Required Minimum Distributions
(23:52) – Taxes for an Independent Contractor
(24:23) – Pure Takeaway
