5 Proactive Tax Strategies Every High-Income Earner Should Implement This Year
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In this episode of The Retire Early, Retire Now Podcast, Certified Financial Planner Hunter Kelly dives deep into five powerful, proactive tax planning strategies designed specifically for high-income earners. Stop treating tax planning as a year-end scramble and start maximizing your financial efficiency all year long.

Key Topics Covered:

• Front-Loading Retirement Contributions:

• How to strategically maximize contributions to 401(k), 403(b), SEP, and Solo-K accounts.

• Understanding when to choose pre-tax vs. Roth contributions.

• Balancing cash flow and securing employer matches.

• Backdoor Roth IRA Conversions:

• Step-by-step breakdown of the backdoor Roth strategy.

• Avoiding pitfalls with the Pro Rata Rule.

• Why converting early in the year reduces tax complexity.

• Strategies to double Roth contributions for married couples.

• Optimizing Withholdings and Estimated Taxes:

• How to avoid IRS penalties and prevent giving the IRS an interest-free loan.

• Calculating safe harbor numbers and adjusting payments accordingly.

• Tax-Loss Harvesting Opportunities:

• Leveraging market volatility to capture investment losses.

• Reducing tax drag in brokerage accounts.

• How loss harvesting offsets future capital gains or ordinary income.

• Maximizing Charitable Contributions:

• Utilizing Donor Advised Funds for significant upfront tax deductions.

• Benefits of "bunching" charitable gifts to exceed the standard deduction.

Bonus Tip: Family Income Shifting Strategies:

• How employing family members in your business can lower overall family tax liability.
• Teaching financial literacy and fostering early retirement savings for children.

Additional Resources Mentioned:

• Episode on Pre-Tax vs. Roth Contributions
• Episode on Direct Index Investing

Ready to take control of your tax planning? Schedule a complimentary consultation at PalmValleyWM.com) and discover how proactive tax strategies can significantly enhance your financial future.

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• Leave a 5-star review and share this episode with anyone aiming to reduce their tax burden.

Disclaimer: This podcast is for educational purposes only and should not be considered financial, tax, or legal advice. Please consult a professional advisor regarding your specific situation.

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