- Chances of being audited are likely reduced this year.
- Long-term tax planning is essential to avoid surprises.
- Estate tax exemptions are set to change in 2025.
- Retirement contributions can significantly impact tax liability.
- Tax loss harvesting can offset gains with losses.
- Charitable contributions can reduce taxable income.
- Holistic investment strategies can optimize tax outcomes.
- Communication with CPAs is critical for effective tax planning.
- Understanding the difference between Roth and traditional IRAs is key.
- Proactive planning can prevent last-minute tax issues.
Connect with Jeremiah:
LinkedIn: https://www.linkedin.com/in/jeremiahjlee/
Email: Jeremiah@tricordadvisors.com
Connect with Laura:
LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/
Email: [email protected]
Connect with Randy:
LinkedIn: https://www.linkedin.com/in/rkbarkley/
Email: Randy@tricordadv.com
This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Advisor Websites to provide information on a topic that may be of interest.