SALT Caps, EV Credits, and Tax Tips: Planning for 2025
Beyond Budgets Podcast
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 Resources: * 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 Strategy Connect with Deb Meyer Schedule an Initial Call Download your Free Resource Website
About Podcast
We delve beyond budgeting tools into values-based financial planning, marriage and money, college saving plans, investment strategies, tax-saving secrets, insurance essentials, and more. Tune in biweekly on Thursdays for solo episodes and enlightening expert interviews. Your journey to financial success starts here.