Like most everything else in 2020, taxes are a little different this year. It is essential that you understand the short-term and long-term rules and regulations that guide how much you will pay to Uncle Sam. Financial professionals Joe Anderson and Alan Clopine guide you through the ins-and-outs of the changes in the tax acts and give you the tools and strategies to help limit your tax bill. Pure Financial Advisors’ Senior Financial Planner Peter Keller, CFP®, AIF® joins the duo to discuss the benefits of charitable strategies such as a donor-advised fund (DAF) and a qualified charitable distribution (QCD).
Important Points:
(00:45) – Taxes and Tax Planning
(01:35) – Tackle Your Taxes in 2020
- What’s New?
- How the Tax Bracket’s Work
- Money-Saving Strategies
- Last-Minute Opportunities
(02:29) – The SECURE Act
(03:40) – Elimination of Stretch IRA
(05:40) – The CARES Act
- Coronavirus Related Distribution (CRD)
(09:30) – Taxable Income
(11:05) – Roth IRA Conversion
(13:00) – Charitable Giving Strategies
- Donor-Advised Fund
- Qualified Charitable Distribution
(17:40) – Last-Minute Tax Strategies for 2020
(20:25) – Ask the Experts
(23:14) – Pure Takeaway: Tackle Your Taxes
- What’s New
- Maximizing Brackets with Roth Conversions
- Smart Ways to Give to Charity
- Last-Minutes Strategies
