Tag: Tax Strategies
Why You Should Master Retirement Savings Strategies (Ep. 115)

Why You Should Master Retirement Savings Strategies (Ep. 115)

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Ever feel overwhelmed by the maze of retirement planning? 

You’re not alone. 

Join Peter Raskin as he ventures into the world of Individual Retirement Accounts (IRAs). Born from the Employee Retirement Income Security Act of 1974, IRAs are now a cornerstone of savvy financial planning. Peter navigates through the complexities of IRAs, covering everything from income taxes and investments to life expectancy and estate planning.

Key Highlights:

  • Traditional IRAs: Understanding their unique functions, the importance of earned income for contributions, and the implications of tax-deferred earnings
  • RMDs: Grasping the necessity of withdrawals from IRAs starting at age 73, and how these are calculated
  • IRA Deductibility: Decoding how participation in employer-sponsored plans and income levels affect your IRA’s tax benefits
  • Roth IRA Insights: Comparing Roth vs. traditional IRAs, exploring the advantages of Roth IRAs including tax-free withdrawals
  • The Pro Rata Rule: Navigating the complexities of the backdoor Roth IRA strategy and its potential tax implications
  • Innovative IRA Options: The groundbreaking 2024 feature allowing 529 plan conversions into Roth IRAs under specific conditions
  • And much more!

Connect with Peter: 

Schedule Time with Peter

CRN-6371410-020624

Disclosure: This is not intended to be a substitute for professional investment advice. Always seek the advice of your financial adviser or other qualified financial service providers with any questions you may have regarding your investment planning.

Peter Raskin is a registered representative of Lincoln Financial Advisors.

Securities offered through Lincoln Financial Advisors Corp., a broker/dealer. Member SIPC. Investment advisory services offered through Sagemark Consulting, a division of Lincoln Financial Advisors, a registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Raskin Planning Group is not an affiliate of Lincoln Financial Advisors.

Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.
Mastering Year-Round Tax Planning: Strategies for a Financially Savvy Year-End (Ep. 111)

Mastering Year-Round Tax Planning: Strategies for a Financially Savvy Year-End (Ep. 111)

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The clock is ticking, days are getting shorter and cooler, and it is hard to believe that Thanksgiving and Christmas are just around the corner. But from a financial perspective, we have less than two months to do tax planning, so what should you be thinking about?

In this episode, Peter Raskin discusses the importance of year-round tax planning. He highlights five key considerations: understanding one’s tax bracket, Roth conversions, charitable giving, gifting strategies, and realizing capital gains and losses. Peter emphasizes the benefits of Roth IRAs and the impact of charitable gifts on communities. He also explains the tax implications of holding mutual funds and the strategy of realizing capital gains and losses.

Peter discusses:

  • Why tax planning should be done year-round, not just at year-end
  • Five tax planning considerations that are impactful over a longer period
  • Tax bracket planning and understanding marginal tax brackets
  • The importance of working with a tax advisor throughout the tax planning process
  • Advantages of Roth conversions and avoiding higher tax brackets
  • The tax advantages of charitable giving and gifting
  • Realizing capital gains and losses throughout the year as a tax strategy

Resources

Connect with Peter: 

Schedule Time with Peter

CRN-6107626-111723

Disclosure: This is not intended to be a substitute for professional investment advice. Always seek the advice of your financial adviser or other qualified financial service providers with any questions you may have regarding your investment planning.

Peter Raskin is a registered representative of Lincoln Financial Advisors.

Securities offered through Lincoln Financial Advisors Corp., a broker/dealer. Member SIPC. Investment advisory services offered through Sagemark Consulting, a division of Lincoln Financial Advisors, a registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Raskin Planning Group is not an affiliate of Lincoln Financial Advisors.

Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.