Episode Details

It's that time of year – when we need to start thinking ahead to 2025! In this special episode, Deb Meyer shares year-end tax planning strategies following the recent election. Highlights include:

• 2025 Tax Landscape: Potential extensions to the Tax Cuts and Jobs Act, changes to SALT deduction limits, and strategic timing for estimated tax payments.
• Electric Vehicle Credits: Tips on maximizing the $7,500 EV credit in 2024 and considerations for foreign car purchases ahead of tariff changes.
• Small Business Tax Planning: Importance of year-end projections, managing estimated taxes, and finding a proactive CPA.
• Additional Tax-Smart Strategies:
  • 529 College savings plan contributions
  • Tax-loss harvesting opportunities in taxable brokerage accounts
  • Qualified Charitable Distributions for retirees
  • Roth IRA conversions: when and why to consider them

• Kitces.com Article on 2025 Tax Changes

• Saving for College: 529 Plans by State

• Connect with Deb Meyer for personalized advice

Listen in to learn more about :

(04:52) Electric Vehicle and Tariff Considerations

(12:36) Tax Loss Harvesting in Brokerage Accounts

(17:49) Roth IRA Wealth Transfer Str