Get Your House In Order – Goodbye Tax Season, Hello Tax Planning for 2024

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As we approach the first week of May with tax season behind us, it’s the perfect time to look ahead. With the Tax Cuts and Jobs Act set to expire at the end of 2025, some big changes are in store for the next two years from a tax standpoint. In today’s episode, Don will dive into the changes you need to be aware of for 2024 and beyond.

Tax Planning 2024

As we approach the first week of May with tax season behind us, it’s the perfect time to look ahead. With the Tax Cuts and Jobs Act set to expire at the end of 2025, some big changes are in store for the next two years from a tax standpoint. In today’s episode, Don will dive into the changes you need to be aware of for 2024 and beyond.

Listen in as Don highlights some of the ‘stealth taxes’ that many people are unaware of- the little-known and often-overlooked areas of taxation that can significantly impact your finances. He explains the capital gains exemption on the sale of primary residences and breaks down the impact that Social Security taxes have on retirement income. Don and Marc also discuss the importance of staying up to date with the latest federal and state tax changes.

We’re confident that this episode is packed full of items you didn’t know about!

Here’s some of what we discuss in this episode:

  • Changes in the capital gains rule for homeowners + potential planning mistakes with property ownership
  • The evolution of the taxation of Social Security benefits over the years
  • The importance of integrating Social Security decisions into an overall retirement plan
  • Keeping an eye on federal and state estate taxes + the importance of comprehensive estate planning

 

Tax Planning 2024

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ABOUT YOUR HOST...

Donald W. Cash – CPA, CFP®, is an independent advisor. After graduating from Rutgers University, he began his career in 1985 as an accountant. In 1990, he entered the field of Estate Planning, concentrating on long-term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs.

Don advocates for a holistic approach to Estate and Financial Planning and has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers.

He is married to Cathy and they have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.

Don't Stop Here...

Get Your House In Order – Retiree Insurance

What types of insurance coverage should you be considering for your golden years? What do you need to keep in mind as you prep for the transition? We’re going to walk you through the fundamentals in today’s episode.

WAYS TO CONTACT

(732) 784-2867

don@donaldcash.com