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In this episode Chris Boyd digs into ways you may be able to reduce this year’s income tax burden. Chris refers to a recent article in Barrons (link provided below) and starts off the conversation with Jeff Perry on six specific areas to...
In this episode Chris Boyd digs into ways you may be able to reduce this year’s income tax burden. Chris refers to a recent article in Barrons (link provided below) and starts off the conversation with Jeff Perry on six specific areas to consider before year’s end. The pair talks about ways to defer income into 2024 and accelerate deductions for 2023. Chris and Jeff next go into the subject of locking in capital losses. This topic naturally transitions into the issues with mutual fund capital gain distributions and how to best avoid and plan for investment income taxes. Jeff reminds listeners to make their quarterly estimated income tax payments. As the segment concludes, the pair discusses current tax rates and the likelihood of higher taxes in 2026, when the Tax Cuts and Job Act expire. Chris and Jeff wrap up the segment sharing their thoughts on Roth conversions and when they make the most sense.
If you need help with financial planning issues don’t hesitate to reach out to Asset Management Resources at (866) 771-8901.
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