Aligning Tax Planning with Retirement Planning (Ep. 8)

What can a well-thought-out tax strategy do for your retirement?

In this episode, Dan Reese delves into the crucial topic of tax planning, a subject that can significantly impact your financial future. Dan guides listeners through key strategies to help optimize tax outcomes, from tax loss harvesting to the advantages of 529 plans and health savings accounts. He sheds light on Roth conversions and charitable giving, offering practical advice for effective tax management. Dan brings clarity to complex topics, ensuring listeners are well-prepared for tax season and beyond.

Dan discusses: 

• (04:00) Tax loss harvesting and its benefits
• (07:20) The role of 529 plans in education savings
• (11:28) Health savings accounts (HSAs) and flexible spending accounts (FSAs)
• (16:23) Understanding Roth conversions for retirement savings
• (19:29) Charitable giving strategies and qualified charitable distributions
• And more

Resources:

• Carson Wealth Retirement Readiness Quiz
• Carson Tax Planning Checklist
• Michigan Education Savings Program (MESP)

Connect with Dan Reese CFP®:

• Avery Wealth
• LinkedIn: Avery Wealth
• LinkedIn: Dan Reese

Disclosures:

Investors should also consider whether the investor’s or beneficiary’s home state offers any state tax or other benefits available only from that state’s 529 Plan. Any state-based benefit should be one of many appropriately weighted factors in making an investment decision. The investor should consult their financial or tax advisor before investment in any state’s 529 Plan.

Converting from a traditional IRA to a Roth IRA is a taxable event.