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:

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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.