Year End Planning: It’s Not Too Early (Part 1)

Year End Planning: It’s Not Too Early (Part 1)

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Join us for a two-part episode where we unpack our 2023 edition of key year-end planning strategies for those nearing or embracing their retirement years. With the holidays right around the corner, it is the perfect time of year for these conversations. Listen in as we cover a range of topics, from IRA and 401k contribution limits to Roth IRA conversions and charitable giving options.

To kick off this discussion, Don will share an interesting article that he found about online scammers that are posing as airline customer service employees on social media. Don and Marc discuss a few ways to protect yourself from such scams before diving into some financial considerations as the year comes to a close. Don’t miss part two for even more year-end financial planning tips!

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

Medicare open enrollment, Social Security COLA changes for 2024 + and the new Medicare Part B premium
Changes to the Required Minimum Distribution (RMD) age
Making qualified charitable distributions (QCDs) from IRAs and their benefits in reducing taxable income
What are the contribution limits for retirement accounts like 401(k)s and IRAs?
Initiating financial decisions early to avoid potential year-end complications

Additional Resources

Wall Street Journal Article:

https://www.wsj.com/lifestyle/travel/airline-customer-service-scam-twitter-x-e1879760?mod=Searchresults_pos1&page=1

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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...

Year End Planning: “In the Red Zone” (Part 2)

We’re back to wrap up this two-part episode on year-end planning for 2023. In this episode, we’ll chat about several topics including the looming expiration of the current tax code in 2026, the increasing national debt, and the potential rise in tax rates. Don will also share how those in need of long-term care can leverage their IRA assets to minimize taxes, talk about the often-overlooked 0% capital gains tax bracket, discuss the importance of proactive tax planning, and more.

November 30, 2023

Medicare Mistakes To Avoid During Open Enrollment Season

It’s Medicare open enrollment season, so in today’s episode, we’re going to dive into some of its complexities and share the common mistakes you want to avoid during this critical period. Listen in as Don and Marc discuss the differences between traditional Medicare, Medicare Supplements and Medicare Advantage plans, and stress the importance of understanding Medicare drug plans.

October 26, 2023

Identity Theft: The Reality, Risks, and How to Stay Safe

In a world where technology is integral to our daily lives, identity theft remains a significant concern. While we may be aware of the risks, it’s easy to let our guard down, often not realizing the gravity until we become victims ourselves. Join Don and Marc as they delve into the world of identity theft, shedding light on the risks and often-overlooked vulnerabilities that put us at risk.

October 12, 2023

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