REDUCE YOUR 2023 TAXES: [ Ссылка ]

Learn how recent tax legislation and proposals impact you, your family, and your retirement savings, and strategies that can help you reduce your tax liability as you plan for a successful retirement. Pure Financial Advisors' Tax Planning Manager, Amanda Cook, Esquire, CPA, and learn how to take advantage of tax-saving opportunities available to you.

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00:00 - Intro
01:07 - Tax Basics - Tax Terms: Adjusted Gross Income, Standard Deductions, Itemized Deductions, Taxable Income, Tax Credits
07:49 - Federal Tax Updates: Proposed Ordinary Income Tax Changes, Tax Rates
09:03 - Inflation Reduction Act, Estate Tax
18:37 - Beneficiary RMDs, SECURE Act 2.0, Extenders
24:49 - Tax Time Bomb: 2022 Taxable Income Rates and Capital Gains Rates
26:59 - Tax Diversification: Tax-Free, Taxable, and Tax-Deferred Accounts
34:50 - Filling Up the Tax Bracket: The Roth IRA Conversion Strategy
38:22 - When Not to Do a Roth Conversion
41:57 - Tax Planning Tips: Tax Loss Harvesting, Tax Gain Harvesting, Back Door Roth IRA, Net Unrealized Appreciation (NUA)
48:18 - Charitable Gifting Strategies: Donor-Advised Funds

Questions answered:
- When the Tax Cuts and Jobs Act expires will SALT deductions come back?
- What is the SALT deduction?
- Is the recent CA gas tax refund taxable?
- Is the Standard Deduction for a couple over age 65 an additional $2,800 (2x $1,400 each) added to the $25,900?
- For the 10 Year distribution window for inherited IRA, is this anytime during the 10 years from the date of death?
- I've heard Joe and Big Al say converting from Traditional IRA to Roth IRA up to the top of the 22% or 24% tax brackets will maximize the conversion and limit taxable income for the year. Is this for Marginal or Effective tax rates? My 2021 Marginal Tax rate was 12% and Effective was 6.3%. AGI ~$100,000, Taxable income ~$75,000. How much more could I convert to ROTH going forward to stay under the 22% Effective tax rate?
- Can I transfer money directly from my IRA to a charitable organization? What is the tax consequence? Can this be counted as a part of RMD?
- I have become a caregiver for a parent. Are there any 2022 or 2023 Federal and/or State (CA) deduction(s) available to my wife and myself?
- How do I establish a Donor Advised Fund?

Pure Financial Advisors, LLC is a fee-only Registered Investment Advisor providing comprehensive retirement planning services and tax-optimized investment management to thousands of people across the nation. Office locations: [ Ссылка ]
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IMPORTANT DISCLOSURES:
• Neither Pure Financial Advisors nor the presenter is affiliated or endorsed by the Internal Revenue Service (IRS) or affiliated with the United States government or any other governmental agency. • • • This material is for information purposes only and is not intended as tax, legal, or investment recommendations.
• Consult your tax advisor for guidance. Tax laws and regulations are complex and subject to change.
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC an SEC Registered Investment Advisor.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated.

Esquire (Esq.) is an honorary title that is placed after a practicing lawyer's name. Practicing lawyers are those who have passed a state's (or Washington, D.C.'s) bar exam and have been licensed by that jurisdiction's bar association.

CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.

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