In this episode Melissa Fradenburg is joined by Alexa Kane, CFP®, to discuss year-end tax and financial planning steps, specifically for 2020. It has been a crazy year for many, but you still have time to get organized and stay-on-track for your financial goals.
We will discuss:
- Have your goals or circumstances changed & does this change your investment strategy?
- Do you have any unrealized tax losses that it would be appropriate to realize?
- Review tax circumstances – does it make sense to do a Roth conversion?
- How have charitable deductions in 2020 changed with the CARES act?
- Have you been putting off getting a will, trust, power of attorney or healthcare directive?
Year-End Tax and Financial Planning – Additional Resources:
- Find out more about Alexa Kane, CFP®
- Watch our 2020 Year-end Tax and Financial Planning Webinar REPLAY
Pearl Planning is not affiliated with and does not endorse, authorize, or sponsor any of the listed websites or their respective sponsors. Pearl Planning is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. You should discuss tax or legal matters with the appropriate professional. Content provided herein is based on our interpretation of the Care Act Stimulus and is not intended to be legal advice or provide a tax opinion.
Unless certain criteria are met, Roth IRA owners must be 59½ or older and have held the IRA for five years before tax-free withdrawals are permitted. Additionally, each converted amount may be subject to its own five-year holding period. Converting a traditional IRA into a Roth IRA has tax implications. Investors should consult a tax advisor before deciding to do a conversion.