Podcasts about qcd

L'interaction forte est l'une des quatre forces fondamentales de la nature, mais aussi la plus méconnue… et la plus puissante. C'est elle qui maintient les noyaux des atomes soudés, malgré la répulsion électromagnétique entre les protons. C'est elle qui relie les quarks à l'intérieur des protons et neutrons, via les gluons, les fameuses particules de force. Sans elle, pas d'atome, pas de matière, pas d'étoiles, pas de vie. Cette vidéo vous plonge dans les mystères de cette force colossale mais confinée, invisible au quotidien, qui agit pourtant à la base de tout. De la chromodynamique quantique (QCD) aux collisions au LHC, des supernovæ aux bombes nucléaires, on explore son rôle dans la structure de la matière, les réactions nucléaires, et l'histoire de l'univers. Une force étrange, non-linéaire, pleine de paradoxes comme le confinement et la liberté asymptotique, qui défie encore aujourd'hui notre compréhension théorique. Pourquoi les quarks sont-ils toujours piégés ? Comment cette force peut-elle être 10³⁸ fois plus forte que la gravité, mais limitée à l'échelle du femtomètre ? Et surtout, que nous révèle-t-elle sur la nature profonde de la réalité ?Rejoignez cette chaîne pour bénéficier d'avantages exclusifs :https://taap.it/pu555nRejoindre le canal Facebook : https://taap.it/FWs5uhRejoindre le canal Instagram (identique à Facebook) : https://taap.it/pXBvDYRédaction scientifique : Thomas GagnieuMontage : Thibaut LarigauderiePour soutenir financièrement la chaîne (don unique) : https://www.leetchi.com/fr/c/soutien-pour-la-chaine-zebroloss-8346724 Pour découvrir + : https://linktr.ee/zebrolossContact commercial : zebroloss@d-influence.comContact (autre que commercial) : contact@zebroloss.fr

In this milestone 100th episode of the Common Sense Financial Podcast, host Brian Skrobonja delves into the critical topic of managing taxes in retirement. The episode focuses on strategies for minimizing tax liabilities, especially for retirees with tax-deferred accounts facing potential hefty tax bills. Brian emphasizes the importance of sustainable income creation during retirement and the role of tax optimization in this process. Most people envision their retirement to be built from predominantly tax-free income, but after many years of deferring taxes, retirees are facing a sizable tax bill on distributions taken from their retirement accounts that could be a third or more of what has been accumulated. When you're saving for retirement, growth of your assets is the priority. But many people don't realize that once they retire that's no longer true. The priority is actually creating sustainable income to support you through retirement while minimizing taxes. A common issue I've seen is future retirees knowing they will owe taxes on their deferred accounts, but not realizing the extent of the problem since the rules change once they retire. Many retirees we work with tend to have the same income goals in retirement, yet with fewer deductions. They no longer have children or mortgage interest to help them offset their tax burdens, which makes the situation more complex. Delaying distributions isn't an option either. Required Minimum Distributions will eventually force your hand. There are two tax problems facing retirees: taxes you will have to contend with today, and taxes that you will have to contend with in the future. With the national deficit continuing to rise, do you expect tax rates to go down in the future or go up? The most likely answer is that tax rates are on the rise, so we should be planning accordingly. There are two possibilities to help minimize the level at which you participate in paying your fair share towards the government's future revenue increases. You can either complete a Roth conversion or through tax deferred withdrawals contribute to an overfunded permanent life insurance policy. Making the decision of which strategy to implement is the easy part. The trick really is completing this process with minimal tax liabilities, which requires specialized knowledge. The progressive nature of the code makes understanding your tax burden complicated and miscalculating this could result in having a larger tax liability than anticipated. Depending on your income level, a taxable distribution can subject your Social Security to additional taxes. This is a separate calculation from the income tax brackets and uses a two step process to determine how much of your social security will be subject to taxation. This is important to know because a taxable distribution may not only push you into a higher income tax bracket, but it could trigger additional taxes on your social security, which could result in a higher effective rate. You should also be aware of the impact a taxable distribution can have on Medicare premiums. The impact of any possible premium increase is typically delayed by two years. This is one of those things that often comes as a surprise when people make decisions about distributions. The antidote to taxable income is deductions, credits and losses which can help reduce the net income subject to tax. There are a few options that can help offset the burden of taxes and make the transition from tax-deferred to tax-free easier, but they don't work for everyone, which is why we recommend working with a professional. The first thing is a donor advised fund or DAF. This allows you to contribute future charitable donations into a fund that you control when distributions are made that can also receive the tax benefit of the donation in the year you make the contribution into the fund. By making multiple years of donations in a single year into that fund, you have the potential of helping offset a taxable distribution from your retirement account in that year. The second is a Charitable Remainder Trust (CRT), where you can contribute future charitable donations into the trust and receive the tax benefit of the donation in the year you make the contribution. You can also receive income from the trust while you're living within IRS limits. A CRT is a more complex arrangement than a DAF with many options and requires an attorney to draft the trust. The third is a qualified charitable donation or QCD, which allows for anyone over the age of 70 and a half to make a direct donation from a qualified account to a charity. The fourth is something known as IDCs, or intangible drilling costs, which allows accredited investors to participate in the drilling expenses of an oil and gas company that could provide reportable tax losses that can help offset all forms of income, as well as the potential for cash flow back to the investor once the wells are operational.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify Brian's article - From Tax-Deferred to Tax-Free: Navigating Taxes in Retirement   References for this episode: https://www.usdebtclock.org/ https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.ssa.gov/benefits/retirement/planner/taxes.html https://www.ssa.gov/benefits/medicare/medicare-premiums.html#anchor5 https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions https://www.irs.gov/charities-non-profits/charitable-remainder-trusts https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity https://www.investopedia.com/terms/i/intangible-drilling-costs.asp https://www.crfb.org/blogs/tax-break-down-intangible-drilling-costs     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Investing involves risk, including the potential loss of principal. This is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation. A ROTH Conversion is a taxable event. Consult your tax advisor regarding your situation. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. Donor Advised Funds represent an irrevocable gift of assets from the donor to the fund. Contributions made to the fund are irrevocable and cannot be returned or used for any other individual or used for any purpose other than grant making to charities. The gift is not an investment or a security. When evaluating a contribution to the fund, carefully consider the terms and conditions, limitations, charges, and expenses. Depending on the tax filing status, DAF contributions may or may not be tax deductible.

Smart Gifting Strategies: How to Maximize Your Tax Deduction While Supporting Causes You Love At AIO Financial, many of our clients want to do more than just grow their wealth—they want to give back. Whether you're already supporting charitable causes or considering a donation this year, there are smart, strategic ways to give that can increase your impact and reduce your taxes. In this blog (and podcast episode), we'll explore how you can: Get a tax deduction by donating appreciated stock Satisfy your Required Minimum Distribution (RMD) with a charitable gift Use a Donor-Advised Fund (DAF) to bundle your giving Support high-impact, transparent charities aligned with your values Let's look at how to make your giving go further—for your community and your financial plan. Why Strategic Giving Matters With the standard deduction currently high ($14,600 for individuals and $29,200 for married couples in 2024), many people don't benefit from deducting charitable donations unless they itemize. But that doesn't mean your giving can't also help you reduce taxes. By using strategies like appreciated stock donations, QCDs, and DAFs, you can: Lower your taxable income Avoid capital gains taxes Give in a more impactful, intentional way Let's break it down.

Jim and Chris discuss listener questions relating to Social Security spousal benefits, IRMAA relief, suspending Social Security for tax planning, and QCD timing with RMDs. (3:00) A listener enquires whether her 85-year-old mother, who recently remarried, must remain on her ex-spouse's record for one year before switching to spousal benefits on her new husband's record.(12:15) […] The post Social Security Benefits, IRMAA, and QCD Timing: Q&A #2517 appeared first on The Retirement and IRA Show.

Americans do a lot of giving, and often, that giving mindset doesn’t change when you stop working. In retirement, there are efficient ways to give that some take advantage of. In fact, Kristin shares how one woman made her qualified charitable distribution (QCD) goals come to life despite some paperwork obstacles. Need a little help getting organized? Download a FREE copy of Legacy’s My Retirement Kit to help you get organized.See omnystudio.com/listener for privacy information.

In this episode, Josh Nelson talks about Qualified Charitable Distribution which is a direct transfer of funds from your IRA to a qualified charity. Unlike regular withdrawals from your IRA, which are almost always taxable, QCDs allow you to donate money tax free. To help understand he answers 2 important questions. 1) Can I take an itemized charitable deduction for my QCD on my income taxes? 2) How do I set this up? Instagram: https://www.instagram.com/keystonefin/Twitter: https://twitter.com/Keystone_Fin?advisorid=33004651Contact Josh Nelson: https://www.keystonefinancial.comContact Jeremy Busch: https//www.keystonefinancial.comPodcast Editing: Tim Leaman/info.primegen@gmail.com

Jim and Chris answer listener questions on Social Security records, GPO, QCD timing, annuity costs, and excess IRA contributions. (10:30) Georgette asks about fixing gaps in her Social Security record. (19:30) The guys discuss how a listener's spousal Social Security benefits work after the repeal of GPO. (28:30) George seeks clarification on the timing of […] The post Social Security records, GPO, QCD Timing, Annuity Costs, and Excess IRA Contributions: Q&A #2511 appeared first on The Retirement and IRA Show.

Imagine you could give to charity, lower your tax bill, and satisfy your Required Minimum Distributions—all at the same time. Most retirees don't realize that there's a smarter way to donate to charity using their IRA. In today's episode, I'll show you how one simple strategy—Qualified Charitable Distributions—can save you thousands in taxes while supporting the causes you care about. To find links and resources mentioned in today's podcast, visit SoundRetirementPlanning.com and click on episode #447. The Retirement Budget Calculator is an intuitive tool that promises ease and accuracy. However, like any tool, user error could potentially lead to costly mistakes. To avoid this, let the experienced advisors at Parker Financial LLC guide you. When you hire our team, we offer a comprehensive review of your current investments, taxes, and the data in the Retirement Budget Calculator. We will ensure your plan's completeness and accuracy, helping you create an investment strategy, assist with tax planning, and monitor your plan to maximize your retirement benefits. At Parker Financial we offer a well-crafted retirement investment strategy, deeply rooted in academic data and financial research which can be the key to a prosperous retirement. Don't leave your future to chance. Take the first step towards a sound retirement. Schedule your complimentary discovery session now by visiting Parker-Financial.net let us help you make the most of your retirement years.      

Retirees are often more afraid of running out of money than of dying. A study by JP Morgan Chase found that over 80% of retirees do not touch their IRA money until they reach the required minimum distribution (RMD) age of 73, only then withdrawing the mandated amount. Certified Financial Planner Mike Douglas discusses the main reason why many retirees worry about outliving their savings. He touches on one strategy to minimize taxes and maximize charitable donations by using Qualified Charitable Distributions (QCDs), allowing retirees to transfer funds directly to charities without paying taxes. Schedule your complimentary appointment today: MichigansRetirementCoach.com Follow us on social media: YouTube | Facebook | Instagram | LinkedInSee omnystudio.com/listener for privacy information.

Η 9η σεζόν έχει θέμα τις καλύτερες τεχνολογίες & ανακαλύψεις ανά δεκαετία, με μπούσουλα τα βραβεία Νόμπελ! Σε αυτό το επεισόδιο, κοιτάμε τη δεκαετία 2000-2009, όπου μετά από 20 χρόνια, έχουμε νέο Νόμπελ στο ανώτατο S-tier Tier list με όλα τα Νόμπελ μέχρι και το 2009 Pre-show 2000: Ολοκληρωμένα κυκλώματα & laser 2001: Συμπύκνωμα Bose-Einstein 2002: Νετρίνα και κοσμικές ακτίνες Χ 2003: Υπεραγωγοί και υπερρευστά (Τύπου ΙΙ) 2004: Ασύμπτωτη ελευθερία (QCD) 2005: Κβαντική οπτική και οπτικά χτένια 2006: Το φάσμα της κοσμικής ακτινοβολίας υποβάθρου 2007:Γιγαντιαία μαγνητοαντίσταση 2008:Αυθόρμητο σπάσιμο συμμετρίας 2009: Οπτικές ίνες και αισθητήρες CCD Post-show: Όσκαρ 2025 Explorers Podcast Επικοινωνία email: hello@notatop10.fm Instagram: @notatop10 Threads: @notatop10 Bluesky: @notatop10.fm Web: notatop10.fm (00:00:00) Pre-show (00:04:20) Intro (00:04:35) Γενικά για τα 2000s (00:05:19) 2000: Ολοκληρωμένα κυκλώματα & laser (00:14:22) 2001: Συμπύκνωμα Bose-Einstein (00:22:40) 2002: Νετρίνα και κοσμικές ακτίνες Χ (00:35:35) 2003: Υπεραγωγοί και υπερρευστά (Τύπου ΙΙ) (00:38:30) 2004: Ασύμπτωτη ελευθερία (QCD) (00:45:11) 2005: Κβαντική οπτική και οπτικά χτένια (00:50:49) 2006: Το φάσμα της κοσμικής ακτινοβολίας υποβάθρου (00:57:58) 2007: Γιγαντιαία μαγνητοαντίσταση (01:01:30) 2008: Αυθόρμητο σπάσιμο συμμετρίας (01:01:56) 2009: Οπτικές ίνες και αισθητήρες CCD (01:15:12) Outro (01:15:26) Post-show: Όσκαρ 2025

Does it make sense for Alex and his wife in Massachusetts to do Roth conversions now to the top of their eventual tax bracket? Steve in San Diego got serious about saving for retirement after Joe and Big Al gave him some tough love 5 years ago. Is he good to retire now, and should he convert to Roth? That's today on Your Money, Your Wealth® podcast number 510 with Joe Anderson, CFP® and Big Al Clopine, CPA. Plus, can Barbara in New Jersey's grandson move excess 529 funds to a Roth and withdraw the money after 5 years? PWare has a cunning plan to gift appreciated stock to avoid capital gains tax, but will it work? Should Mike create a limited liability company for his rental properties? And finally, qualified charitable distributions don't make sense to GetSmart Paul. Sherri in California wonders if her kids can inherit her savings account without any tax penalty, and whether there's a safe, high-yielding investment she should put it in. And Houry in New York wonders if her IRA can fund a charitable remainder unitrust, or CRUT. Access free financial resources and the episode transcript: https://lnk.to/ymyw-510 DOWNLOAD The Complete Roth Papers Package DOWNLOAD The Retirement Readiness Guide WATCH Retirement Pop Quiz: 18 Questions to Get You Ready to Retire on YMYW TV LISTEN to Steve in San Diego's 2019 question Al: "Maybe you gotta live in a trailer somewhere." Joe: "that side hustle, you better be able to do that in a wheelchair." LISTEN to YMYW Podcast Best of 2021, 2022, and 2023 REQUEST: Ask Joe & Big Al for your Retirement Spitball Analysis SCHEDULE: free financial assessment SUBSCRIBE: YMYW on YouTube DOWNLOAD: more free guides READ: financial blogs WATCH: educational videos SUBSCRIBE: YMYW Newsletter Timestamps: 00:00 - Intro: This Week on the YMYW Podcast 01:08 - Should We Do Roth Conversions to Our Eventual Tax Bracket? (Alex, MA) 07:51 - YMYW Tough Love Made Me Get Serious. When Can I Retire? Should I Do Roth Conversions? (Steve, San Diego, CA) 14:11 - Download the Complete Roth Papers Package for free 14:59 - Can Grandson Withdraw 529 Funds From Roth After 5 Years? (Barbara, NJ) 18:37 - Can We Avoid Capital Gains Tax With This Appreciated Stock Gifting Strategy? (P Ware) 20:57 - Should I Create an LLC for Rental Properties? (Mike, voice) 23:00 - Qualified Charitable Distributions Don't Make Sense to Me (GetSmart Paul, YouTube) 24:59 - Watch the Retirement Pop Quiz on YMYW TV, Download the Retirement Readiness Guide for free 25:45 - Do My Kids Inherit My Savings Account Without Tax Penalty? What's a Safe, High-Return Investment for Them? (Sherri, CA) 27:18 - Can an IRA Fund a Charitable Remainder Unitrust? (Houry, NY) 31:43 - Outro: Next Week on the YMYW Podcast

In this week's Fastest Four, we'll dive into the latest rules for Required Minimum Distributions (RMDs) and explore how Qualified Charitable Distributions (QCDs) can help you lighten your tax load. We'll cover new RMD age requirements, ways to avoid costly penalties, and the limits for QCD in 2024-2025. Plus, we'll share some smart retirement withdrawal strategies. This episode is perfect for retirees and those approaching RMD age.  And for charts and more episode info, head over to: https://getreadyforthefuture.com/rmd-and-qcd-explained/

You should be prepared for the upcoming stock market correction! At Wilsey Asset Management we are prepared for an upcoming correction in the stock market. That doesn't mean we or you should sell all your positions and go to cash. What it does mean is you should take a close look at your portfolio and see if you're over concentrated in certain positions, especially those that are trading at lofty valuations based on earnings, sales, book value, and cash flow. Many investors think that their stock or stocks will never decline and will just keep increasing forever. This is because they have no history or way of valuing what they hold in their portfolio. They are just happy because it keeps going up, which is obviously unsustainable. It is important for investors to realize that roughly every 19 months or so stocks go through a correction of 10% or more. If you look back in history, the last correction we had was roughly 20 months ago in March 2023 because of the regional banking crisis. What will cause the next correction? It could be concerns on tariffs, it could be due to global unrest, or perhaps it will be something that no one even thought of. The average correction lasts 3 to 4 months, but investors should be prepared for a longer period because an average is simply the average, and it will not be the same for every correction. Mentally, investors should be prepared for corrections, and they should understand it is not a matter of if it will it happen, but when it will happen, and you should not be emotionally disappointed when it does happen. As an investor, you have to realize it does happen, but if you have a strong diversified portfolio with investments that you understand you can weather the storm. If most of your stocks in the portfolio pay dividends that might make you feel better and also the income helps offset a potential decline in your portfolio. Also think like famed investor Warren Buffett that when a correction happens many equities go on sale and that is time to start buying. Don't, however, buy with the intention that you make money in the next month or two. Realize that you're buying a small piece of large company on sale that should do well for you in years to come.   Technology has changed and improved oil drilling Thanks to advancements in technology and artificial intelligence, the United States now out produces any other country in the world when it comes to oil. Much of the success has come from the Permian Basin which is 75,000 square miles located in Texas and New Mexico. The area produces almost 50% of US oil. There have been huge efficiency advantages in US oil production which have increased 60% or more a day while using 40% less workers. It used to take 18 months to find oil when drilling in the ocean with seismic imaging. Thanks to advances in technology, it now takes only 18 days. Companies like Chevron also claim they can drill 80% more feet in a day than they did five years ago. When you think of oil drilling, you may think of the new show Landman on Paramount+ and all the dirty oil. While that is still part of it, it is to a much smaller degree because now there are workstations with computers and 20 to 30 workers controlling thousands of pieces of equipment from many miles away. All this new efficiency will benefit the consumer as this will stabilize oil prices to some degree. I believe this will occur because the breakeven for oil in the Permian has dropped over 50% to $40 a barrel and could fall even further. What this means is more and stable profits for the oil companies. The consumer will benefit as well as oil companies cost decline and the price of gasoline at the pump could decline further.   Should we start to question the progress on inflation? The November Consumer Price Index (CPI) came in at 2.7%, which was in line with expectations but higher than October's reading of 2.6%. Core CPI, which excludes food and energy came in at 3.3%, which also matched expectations. The concern here is that this was the sixth month in a row that we have been at 3.3 or 3.2%. I have spent a lot of time talking about shelter costs, but those are finally starting to decelerate. The shelter index showed a gain of 4.7% compared to last year and while it still accounted for 40% of the monthly CPI increase, it was the smallest 12-month increase since February 2022. I continue to believe this index will continue to decelerate moving forward. The big question here is should we be concerned with this report? It looks like since it came in right along expectations the market is now with near certainty pricing in a cut at the Fed's meeting next week. I do have to say though it is somewhat concerning we are still a decent ways off from the Fed's target and it appears we have stalled out. We have come a long way from when the CPI was 9% in June 2022, but I believe if the Fed sticks to being “data dependent” they will want to see further progress before cutting rates much further next year. There are still some positives with areas like shelter and auto insurance that should be less burdensome next year, but other areas like energy will have a tough comparison considering the lower prices this year. Overall, I continue to believe the economy is in a good spot, but this report confirms my thoughts that those hoping for a lot of rate cuts next year may be getting too far ahead of themselves.   Make your Charitable Gifts Count this Season If you currently receive required minimum distributions (RMDs) from a retirement account and you make charitable donations, you should be using your required distributions to make those charitable gifts.  This is called a qualified charitable distribution (QCD) and it is a tax advantaged way to make the donations to charity that you were already doing.  After the tax changes in 2017, the number of tax filers who itemize dropped substantially.  Charitable donations are typically an itemized deduction, so for the majority of tax filers, charitable gifts do not provide any tax benefit.  When taking a required distribution from a retirement account, the distribution is reportable as income.  However, any required distribution that is instead sent to a charity does not need to be recognized as income, meaning the giver is guaranteed to receive both the federal and state income tax benefit, even if they don't itemize.  Not only that, but since the charitable distribution is not included in income, it results in a lower adjusted gross income which is the income level that determines the cost of Medicare premiums (IRMAA).  A normal itemized charitable donation only reduces taxable income, not adjusted gross income, so even people who itemize are still better off making qualified charitable distributions rather than itemized charitable donations. These QCDs are a great way to help a cause you believe in while getting the most tax benefits possible.   Companies Discussed: The Cigna Group (CI), The Kroger Co. (KR), The PNC Financial Services Group, Inc. (PNC) & The Hershey Company (HSY)

SpaceTime Series 27 Episode 146*Supernova's Potential to End the Dark Matter SearchAstronomers are eagerly awaiting a nearby supernova that could finally solve the mystery of dark matter. A new study suggests that axions, hypothetical particles, could be discovered within seconds of a supernova's gamma-ray burst. The Fermi Gamma Ray Space Telescope might detect these gamma rays, offering insights into the mass of QCD axions. However, the rarity of such supernovae and the telescope's limited field of view pose challenges. Researchers are considering launching a fleet of gamma-ray telescopes, named GALAX, to ensure comprehensive coverage.*Magnetic Tornadoes at Jupiter's PolesA recent study reveals that Jupiter's poles are home to magnetic tornadoes that generate Earth-sized concentrations of hydrocarbon haze. These phenomena, visible only in ultraviolet light, are linked to the planet's strong magnetic fields. The findings, based on Hubble Space Telescope images, shed light on the unique atmospheric dynamics of Jupiter, contrasting with Earth's auroral processes.*Arrival of the World's Biggest Digital Camera at NASANASA's Goddard Space Flight Centre has received the Wide Field Instrument, the largest digital camera ever built, for the Nancy Grace Roman Space Telescope. This advanced camera will offer an unprecedented panoramic view of the universe, aiding in the study of dark energy, dark matter, and exoplanets. Scheduled for launch in 2027, Roman's capabilities will surpass those of current Space telescopes.The Science RobertA new study links prolonged sedentary behaviour with increased heart disease risk, even among active individuals. Research highlights the crucial ecological role of large sharks, threatened by overfishing and habitat loss. Palaeontologists use dinosaur faeces to trace the evolutionary rise of dinosaurs. Advances in lithium battery technology promise safer and longer-lasting power sources, potentially revolutionising energy storage.www.spacetimewithstuartgary.comwww.bitesz.com

Did you hear about the guy who paid his taxes to the IRS with a smile? It didn't work out, though—it turns out they prefer money.Well, paying taxes is certainly no laughing matter, and we don't want to miss something that could end up costing us money. Fortunately, Kevin Cross is here today with a list of year-end tax tips you don't want to miss.Kevin Cross is a Certified Public Accountant (CPA) who has headed CPA firms in Florida and now Georgia. He has studied the tax code extensively and specializes in representing taxpayers before the IRS. 2024 Year-End Tax StrategiesAs the end of 2024 draws near, these are some critical financial moves that can help you maximize your tax savings: 1. Review Withholding and Estimated PaymentsThe first step in year-end tax prep is to check how much you've paid in taxes this year. Avoid underpaying (which leads to penalties) or overpaying (which gives the government an interest-free loan on your money). For those behind on withholding, consider adjusting your remaining paychecks to make up the difference.2. Max Out Retirement ContributionsContributing to a retirement account like a 401(k) or IRA is one of the best ways to lower your taxable income. For high-income earners, consider a “backdoor Roth IRA”—a strategy involving non-deductible IRA contributions converted to a Roth IRA, providing tax-free growth.3. Optimize Charitable ContributionsCharitable giving is a powerful tax strategy, especially if you bundle multiple years of contributions. By “bunching” donations, you may surpass the standard deduction threshold, allowing you to itemize and benefit from your generosity. A donor-advised fund (DAF) can streamline this process, allowing you to make a large donation this year and distribute it to charities over time.4. Donate Appreciated AssetsConsider donating appreciated stocks or mutual funds to avoid paying capital gains tax on the appreciation. For example, if you bought stock for $1,000 and it's now worth $1,500, donating it allows you to deduct the full $1,500 without incurring capital gains tax on the $500 gain.5. Qualified Charitable Distributions for IRA HoldersFor those 70½ or older, Qualified Charitable Distributions (QCDs) from an IRA allow you to donate directly to charity without counting the distribution as taxable income. This is particularly helpful if you're taking the standard deduction.6. Take Advantage of Section 121 Exclusion on Home SalesSection 121 of the tax code allows homeowners to exclude up to $500,000 in capital gains (for married couples) when selling their primary residence, provided they've lived in it for at least two of the last five years. This is a significant opportunity for those considering selling their homes in a high-appreciation market.7. Avoid Underpayment PenaltiesQuarterly estimated payments are essential to avoid IRS interest and penalties if you're self-employed or a gig worker. Failure to pay quarterly could result in a penalty that acts like interest on unpaid taxes, making it costlier than paying in installments.8. Don't Ignore Past Tax IssuesIf you're behind on tax filings or payments, now's the time to act. Many individuals feel overwhelmed, but taking the first step to seek professional help can bring peace and clarity. We advise you to contact a CPA with IRS experience to assist with this process.These strategies can help you make the most of tax season and avoid paying more than necessary. Remember, the tax code is complex, and each situation is unique, so consulting with a CPA, especially one experienced in IRS negotiations, can provide personalized guidance. On Today's Program, Rob Answers Listener Questions:I have some rental properties that I'm worried will be sold for cheap at auction after I'm gone since my kids in California don't want to return to Arkansas. Should I sell the properties and put the money in a trust for my grandkids' education?I'm contributing 15% of my income to my 401(k), and my employer matches 5%. But I'm trying to build up my emergency savings, and I'm only at about two months' worth right now. Should I stop contributing to my 401(k) for now so I can focus on getting my emergency fund up to 6 months' expenses?Resources Mentioned:Kevin Cross, CPANational Christian Foundation (NCF)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

If you’re 70+ or 73 and older and making required minimum distributions (RMDs), consider using a Qualified Charitable Distribution (QCD) to enhance your tax savings. By directing your charitable contributions directly from your RMD, you get a dollar-for-dollar deduction, reducing your taxable income without needing to itemize deductions. This method lets you support causes you care about while maximizing tax benefits. Learn more about QCDs and how to make the most of your retirement income. Transcript: G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. If you are 70 plus or 73 and older and you’re taking required minimum distributions, think about QCD—qualified charitable distributions. It’s a dollar-for-dollar deduction, so if you normally give $500 a month to your church or to some other organization, take that $6,000, have it come out of your RMD, so then you’re going to reduce it 100% because if that same six is all you have, you will have a zero tax deduction if you try to itemize. This is a great way for you to give more money and still save on tax dollars. Go to DrFriday.com. You can catch the Dr. Friday call-in show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

These days, more workers are opting to stay on the job after signing up for Social Security.The percentage of Americans over 65 who are still working has doubled since 1980. Of course, many of them also get security benefits. Eddie Holland is here to explain how working affects the monthly benefit check.Eddie Holland is a Senior Private Wealth Advisor and partner of Blue Trust in Greenville, South Carolina. He's also a CPA, a Certified Financial Planner (CFP®), and a Certified Kingdom Advisor (CKA®).The Impact of Earnings on Social Security Before Full Retirement AgeIf you begin drawing Social Security before reaching your full retirement age (FRA) and continue working, your benefits may be subject to an earnings test. Here's how it works:Under Full Retirement Age: For 2024, the income limit is $22,320. If your earnings exceed this limit, Social Security reduces your benefits by $1 for every $2 earned above the threshold.Year You Reach Full Retirement Age: The earnings limit increases to $59,520, with a reduced penalty of $1 for every $3 earned above the limit.After Reaching Full Retirement Age: Once you reach FRA, there is no longer an earnings limit, and your benefits will not be reduced regardless of your income.Will You Get Reduced Benefits Back?A key point is that if your benefits are reduced due to exceeding the earnings limit before reaching FRA, those reductions are temporary. Once you reach full retirement age, the Social Security Administration recalculates your benefit amount, potentially increasing your monthly payment to compensate for the prior reductions.After reaching full retirement age, you can increase your Social Security benefit through continued work. Social Security calculates your benefits based on your highest 35 years of earnings. If your current income is higher than one of the years included in your "high 35," the Social Security Administration will adjust your benefit amount the following year, reflecting your new earnings record.Understanding Tax ImplicationsSocial Security benefits may be subject to federal taxes, depending on your “combined income”—a calculation that includes your adjusted gross income, tax-exempt interest, and half of your Social Security benefits. Here's a quick breakdown:No Tax: Social Security benefits are not taxed for single filers with combined income under $25,000 and married couples under $32,000.Up to 85% Taxable: For single filers earning over $34,000 and couples over $44,000, up to 85% of Social Security benefits may be taxed.One strategy for reducing taxes on Social Security benefits, especially for those 70½ or older, is using a Qualified Charitable Distribution (QCD). This allows individuals to transfer up to $100,000 per year directly from their IRA to a charity, which can count toward their required minimum distribution and is excluded from taxable income. It's a great way to support causes you care about while managing your tax burden.If you plan to work while receiving Social Security benefits, understanding how income limits and taxes affect your benefits is crucial. These guidelines can help you make informed decisions about when to claim benefits and how to maximize your income. On Today's Program, Rob Answers Listener Questions:I received insurance death benefits, and my sister also and I received insurance death benefits. Are they subject to tithing? What's the Christian perspective on this?I'm a single mom making $45,000 a year as a chaplain. I also have to financially support my mom, who is not good with finances. It's frustrating because she can't get ahead, and I'm worried about our future and preparing for my daughter and myself. Do you have any suggestions on how I can help my mom with her finances?My husband and I have looked into Christian Community Credit Union. You've talked about them before, but we noticed they are not FDIC-insured and wondered if that was a concern.Resources Mentioned:BlueTrustChristian Community Credit UnionLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

On the Horizon Advisers Unleashed Podcast, Ryan and Alex discuss the topic of charitable giving, focusing on strategies to maximize tax benefits. They explore methods like using donor-advised funds, donating appreciated stock, and making qualified charitable distributions (QCD) to help listeners optimize their charitable contributions.Ryan and Alex also emphasize the importance of timing charitable giving on their podcast. They discuss strategies like lumping donations in certain years, particularly when selling a business or receiving a large bonus, to maximize tax benefits.

Jonthan & Jonathan stand in for Danny & Rich with a preview of today's PCE report, and inklings of dissent within the Fed on the latest rate cut. The handwriting is on the wall for Savers; time to reassess strategies as interest rates fall. Ho will the election outcomes affect your financial planning? Worst-case scenario: a contested election (the markets hate uncertainty). With the ebb and flow of markets, we make adjustments on the fly, not per formula. Interest Rates & Real Estate: As rates come downm, time to buy or refinance? How Mortgage Rates and Fed Rates behave; patience is a virtue. Has the average income needed to buy a house come down? The concerpt of micro-retirement: Is it a good idea from a financial planning aspect? Younger vs older generation; consequences of micro-retirement (Brent reveals his nano-retirement). The importance of diversification of accounts; Roths & tax free withdrawals. Our end-of-year checklist: Tax planning and Roth conversions. Dealing with RMD's (required minimum distribution) and QCD's (qualified charitable donation). SEG-1: PCE Preview & Dissent at the Fed SEG-2: Interest Rates & Real Estate: Is the timing right? SEG-3: Is Micro-Retirement Right for You? SEG-4: The Importance of Diversification of Accounts Hosted by RIA Advisors Senior Financial Advisors, Jonathan Penn, CFP, and #Jonathan McCarty, CFP Produced by Brent Clanton, Executive Producer ------- Watch today's show video here: https://www.youtube.com/watch?v=SjPwPSI_rpI&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mentioned in this report: "Agency REITs For A Bull Steepener" https://realinvestmentadvice.com/agency-reits-for-a-bull-steepener/ "50 Basis Point Rate Cut – A Review And Outlook" https://realinvestmentadvice.com/50-basis-point-rate-cut-a-review-and-outlook/ "Analysis Of The Market As The Fed Cuts Rates" https://realinvestmentadvice.com/newsletter/ ------- The latest installment of our new feature, Before the Bell, "Flow Trumps Thesis" is here: https://www.youtube.com/watch?v=_qzcif6GGmc&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1&t=1s ------- Our previous show is here: "Bull Steepener Alert: How Agency REITs Can Supercharge Your Portfolio" https://www.youtube.com/watch?v=jGbMCOPuPGI&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MicroRetirement #SocialSecurity #MarketLiquidity #RecessionFears #RateCuts #PortfolioManagement #FedRateCut2024 #FederalReserve #PortfolioRisk #MarketRally #MarketBreakout #FedRateCutImpact #FinancialWinners #InterestRateBenefits #FederalReserve #InterestRates #FedRateCut #BondYields #YieldCurveInversion #MarketRally #MarketBounce #MarketRisk #Overbought #MarketBullishness #DiversificationOfAccounts #RothIRA #InvestingAdvice #Money #Investing

Jonthan & Jonathan stand in for Danny & Rich with a preview of today's PCE report, and inklings of dissent within the Fed on the latest rate cut. The handwriting is on the wall for Savers; time to reassess strategies as interest rates fall. Ho will the election outcomes affect your financial planning? Worst-case scenario: a contested election (the markets hate uncertainty). With the ebb and flow of markets, we make adjustments on the fly, not per formula. Interest Rates & Real Estate: As rates come downm, time to buy or refinance? How Mortgage Rates and Fed Rates behave; patience is a virtue. Has the average income needed to buy a house come down? The concerpt of micro-retirement: Is it a good idea from a financial planning aspect? Younger vs older generation; consequences of micro-retirement (Brent reveals his nano-retirement). The importance of diversification of accounts; Roths & tax free withdrawals. Our end-of-year checklist: Tax planning and Roth conversions. Dealing with RMD's (required minimum distribution) and QCD's (qualified charitable donation). SEG-1: PCE Preview & Dissent at the Fed SEG-2: Interest Rates & Real Estate: Is the timing right? SEG-3: Is Micro-Retirement Right for You? SEG-4: The Importance of Diversification of Accounts Hosted by RIA Advisors Senior Financial Advisors, Jonathan Penn, CFP, and #Jonathan McCarty, CFP Produced by Brent Clanton, Executive Producer ------- Watch today's show video here: https://www.youtube.com/watch?v=SjPwPSI_rpI&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mentioned in this report: "Agency REITs For A Bull Steepener" https://realinvestmentadvice.com/agency-reits-for-a-bull-steepener/ "50 Basis Point Rate Cut – A Review And Outlook" https://realinvestmentadvice.com/50-basis-point-rate-cut-a-review-and-outlook/ "Analysis Of The Market As The Fed Cuts Rates" https://realinvestmentadvice.com/newsletter/ ------- The latest installment of our new feature, Before the Bell, "Flow Trumps Thesis" is here:  https://www.youtube.com/watch?v=_qzcif6GGmc&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1&t=1s ------- Our previous show is here: "Bull Steepener Alert: How Agency REITs Can Supercharge Your Portfolio" https://www.youtube.com/watch?v=jGbMCOPuPGI&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Get more info & commentary:  https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MicroRetirement #SocialSecurity #MarketLiquidity #RecessionFears #RateCuts #PortfolioManagement #FedRateCut2024 #FederalReserve #PortfolioRisk #MarketRally #MarketBreakout #FedRateCutImpact #FinancialWinners #InterestRateBenefits #FederalReserve #InterestRates #FedRateCut #BondYields #YieldCurveInversion #MarketRally #MarketBounce #MarketRisk #Overbought #MarketBullishness #DiversificationOfAccounts #RothIRA #InvestingAdvice #Money #Investing

Retirement, a phase many of us anticipate for a long time, comes with its own set of financial intricacies. Specifically, how do you effectively withdraw funds from your savings to ensure a comfortable, sustainable, and tax-efficient lifestyle?  A well-crafted retirement blueprint is essential. This plan should outline your long-term goals and the steps needed to achieve them. More importantly, your financial plan should be flexible enough to accommodate life's unexpected expenses, such as healthcare costs or home repairs. Revisiting and updating your blueprint annually—or when significant life changes occur—can help ensure you stay on track. In this episode, we're sharing the essential steps to develop a retirement withdrawal plan that caters to your needs. We dig into which accounts to draw from, how to minimize taxes, and how to manage unexpected expenses. You'll also learn about advanced strategies like Roth conversions, tax-loss harvesting, and the benefits of Qualified Charitable Distributions and Donor-Advised Funds. Outline of This Episode [5:06] Your options for retirement tax strategies [8:32] Utilize early years to make strategic financial moves [11:30] Plan your retirement for peace of mind [17:12] Lower RMDs with Roth conversions and reduce the tax impact [19:42] Consider tax loss harvesting, capital gains, heirs' basis [21:30] Use a QCD to reduce taxable income [26:12] Exploring blind spots in retirement withdrawal strategies  Resources & People Mentioned The Retirement Podcast Network Connect With Chad and Mike https://www.financialsymmetry.com/podcast-archive/  Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play

We have a newsletter for Cincy Beer Events now! Check our website (did you check the website?) and sign up. We promise not to use your email for evil purposes. Maybe.  On this episode of the 'pod, we got to scream Caroline's name again, we wonder why Beards and Beers doesn't have a short segment each episode about Beards, Sonder is spelled with a silent "W", who is the best looking duo in Cincy beer content, things Gnome is not skilled at, and wieners in mall food courts. Forest Fair Mall Ball...Sculpture (scroll waaaaaay down for the ball story after all the pics) : https://ronnysalerno.com/queencitydiscovery/two-malls-and-the-unsolved-ball-sculpture-mystery Other Forest Fair Mall articles also from QCD: https://papaya-dolphin-rl7t.squarespace.com/queencitydiscovery/2015/12/black-friday-in-retail-purgatory.html https://papaya-dolphin-rl7t.squarespace.com/queencitydiscovery/2009/03/portrait-of-dead-mall.html NFL Choices Without Consequences for Week 2:  Gnome - Who Dey! Julia - Cat Team Brotherhood - spots edition Marco - the team not playing the Bills **The music used in the NFL Deathmatch Challenge is by DonRock the Imposter on YouTube: https://www.youtube.com/watch?v=mqKSIaE_QE8 @donrocktheimposter912 ----- This episode covers the following shows : @HalfAssBeerReview on YouTube - Happy Camper S'mores Blonde Ale - Sonder Brewing and Kings Island Collaboration Barstool Perspective - 9/6/2024 The Weekly Pint - Ep 228 - You Can Label Me Thirsty If You Want, Because I AM Beers and Beards - Ep 159 - Esoteric Oktoberfest Craft Parenting Podcast - Ep 200 - Exploring the Indianapolis Craft Brewery Scene ----- What we drank :  MadTree - Psychopathy - IPA Metazoa Brewing - Hoppopotamus - IPA Zywiec - Baltic Porter ----- Episode recorded on 9/10/2024 at our amazing podcast host, Higher Gravity Summit Park! https://highergravitycrafthaus.com/ Disclaimer: The views and opinions expressed by Truth, Beer, and Podsequences are those of the participants alone and do not necessarily reflect the views or opinions of any entities they may represent. ------  Check out our other podcast where we tell you all about the upcoming Cincy Beer Events! https://podcasters.spotify.com/pod/show/truthbeerpod Links to everything at http://truthbeerpod.com/ Find us on all the social medias @ TruthBeerPod Email us at TruthBeerPod@gmail.com Subscribe, like, review, and share! Find all of our episodes on your favorite Podcast platform or https://www.youtube.com/@TruthBeerPod ! Buy us a pint!  If you'd like to support the show, you can do by clicking the "One-Time Donation" link at http://truthbeerpod.com ! If you want exclusive content, check out our Patreon!  https://www.patreon.com/TruthBeerPod If you'd like to be a show sponsor or even just a segment sponsor, let us know via email or hit us up on social media! ----- We want you to continue to be around to listen to all of our episodes.  If you're struggling, please reach out to a friend, family member, co-worker, or mental health professional.  If you don't feel comfortable talking to someone you know, please use one of the below resources to talk to someone who wants you around just as much as we do.   Call or Text 988 to reach the Suicide and Crisis Lifeline Chat with someone at 988lifeline.org http://www.988lifeline.org ----- Our Intro, Outro, and most of the "within the episode" music was provided by Gnome Creative. Check out www.GnomeCreative.com for all your audio, video, and imagery needs! @gnome__creative on Instagram @TheGnarlyGnome on Twitter https://thegnarlygnome.com/support http://gnomecreative.com http://instagram.com/gnome__creative http://www.twitter.com/TheGnarlyGnome

Jim talks  with Elba Alonso-Monsalve and David Kaiser about the prospects to describe dark matter as tiny black holes that were created at the end of cosmic inflation.  Due to the large inhomogeneities in the distribution of matter at that time, the black holes could form directly from the matter distribution and not be color neutral (in the sense of QCD).Show notes: http://frontiers.physicsfm.com/79 

I'm a buffoon and I missed including another important pro of doing an employer plan-to-IRA rollover in episode #110's list of pros and cons of rollovers. The additional potential pro is the ability to do Qualified Charitable Distributions ("QCDs") out of the IRA if you're at least 70 1/2 and charitably inclined.So, the recap the full list of pros (including QCDs) and cons of doing an employer plan-to-IRA rollover:Potential PROS of rolling over an employer plan to an IRA or Roth IRA:More investment optionsLikely lower fees and costsAccess to professional adviceBetter control over tax withholdingsMore withdrawal optionsLess Required Minimum Distributions ("RMDs") to manageLess financial clutterGain the ability to do Qualified Charitable Distributions ("QCD")Potential CONS of rolling over an employer plan to an IRA or Roth IRA:May lose the ability to take early distributions without penaltyMay lose the ability to cleanly do backdoor Roth IRA contributionsMay lose the ability to continue to delay RMDs from that plan (if you're still working at that employer)Lose the ability to take loans from the moneyMay lose the ability to take advantage of Net Unrealized Appreciation ("NUA") of company stockMay lose access to a stable value or managed income portfolio investment optionPotentially less creditor protectionLinks in this episode:Tenon Financial monthly e-newsletter - Retirement Planning InsightsFacebook group - Retirement Planning Education (formerly Taxes in Retirement)YouTube channel - Retirement Planning Education (formerly Retirement Planning Demystified)Retirement Planning Education website - www.RetirementPlanningEducation.comTo send Andy questions to be addressed on future Q&A episodes, email andy@andypanko.com

In this milestone 100th episode of the Common Sense Financial Podcast, host Brian Skrobonja delves into the critical topic of managing taxes in retirement. The episode focuses on strategies for minimizing tax liabilities, especially for retirees with tax-deferred accounts facing potential hefty tax bills. Brian emphasizes the importance of sustainable income creation during retirement and the role of tax optimization in this process. Most people envision their retirement to be built from predominantly tax-free income, but after many years of deferring taxes, retirees are facing a sizable tax bill on distributions taken from their retirement accounts that could be a third or more of what has been accumulated. When you're saving for retirement, growth of your assets is the priority. But many people don't realize that once they retire that's no longer true. The priority is actually creating sustainable income to support you through retirement while minimizing taxes. A common issue I've seen is future retirees knowing they will owe taxes on their deferred accounts, but not realizing the extent of the problem since the rules change once they retire. Many retirees we work with tend to have the same income goals in retirement, yet with fewer deductions. They no longer have children or mortgage interest to help them offset their tax burdens, which makes the situation more complex. Delaying distributions isn't an option either. Required Minimum Distributions will eventually force your hand. There are two tax problems facing retirees: taxes you will have to contend with today, and taxes that you will have to contend with in the future. With the national deficit continuing to rise, do you expect tax rates to go down in the future or go up? The most likely answer is that tax rates are on the rise, so we should be planning accordingly. There are two possibilities to help minimize the level at which you participate in paying your fair share towards the government's future revenue increases. You can either complete a Roth conversion or through tax deferred withdrawals contribute to an overfunded permanent life insurance policy. Making the decision of which strategy to implement is the easy part. The trick really is completing this process with minimal tax liabilities, which requires specialized knowledge. The progressive nature of the code makes understanding your tax burden complicated and miscalculating this could result in having a larger tax liability than anticipated. Depending on your income level, a taxable distribution can subject your Social Security to additional taxes. This is a separate calculation from the income tax brackets and uses a two step process to determine how much of your social security will be subject to taxation. This is important to know because a taxable distribution may not only push you into a higher income tax bracket, but it could trigger additional taxes on your social security, which could result in a higher effective rate. You should also be aware of the impact a taxable distribution can have on Medicare premiums. The impact of any possible premium increase is typically delayed by two years. This is one of those things that often comes as a surprise when people make decisions about distributions. The antidote to taxable income is deductions, credits and losses which can help reduce the net income subject to tax. There are a few options that can help offset the burden of taxes and make the transition from tax-deferred to tax-free easier, but they don't work for everyone, which is why we recommend working with a professional. The first thing is a donor advised fund or DAF. This allows you to contribute future charitable donations into a fund that you control when distributions are made that can also receive the tax benefit of the donation in the year you make the contribution into the fund. By making multiple years of donations in a single year into that fund, you have the potential of helping offset a taxable distribution from your retirement account in that year. The second is a Charitable Remainder Trust (CRT), where you can contribute future charitable donations into the trust and receive the tax benefit of the donation in the year you make the contribution. You can also receive income from the trust while you're living within IRS limits. A CRT is a more complex arrangement than a DAF with many options and requires an attorney to draft the trust. The third is a qualified charitable donation or QCD, which allows for anyone over the age of 70 and a half to make a direct donation from a qualified account to a charity. The fourth is something known as IDCs, or intangible drilling costs, which allows accredited investors to participate in the drilling expenses of an oil and gas company that could provide reportable tax losses that can help offset all forms of income, as well as the potential for cash flow back to the investor once the wells are operational.     Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com Common Sense Financial Podcast on YouTube  Common Sense Financial Podcast on Spotify Brian's article - From Tax-Deferred to Tax-Free: Navigating Taxes in Retirement   References for this episode: https://www.usdebtclock.org/ https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2024 https://www.ssa.gov/benefits/retirement/planner/taxes.html https://www.ssa.gov/benefits/medicare/medicare-premiums.html#anchor5 https://www.irs.gov/charities-non-profits/charitable-organizations/charitable-contribution-deductions https://www.irs.gov/charities-non-profits/charitable-remainder-trusts https://www.irs.gov/newsroom/qualified-charitable-distributions-allow-eligible-ira-owners-up-to-100000-in-tax-free-gifts-to-charity https://www.investopedia.com/terms/i/intangible-drilling-costs.asp https://www.crfb.org/blogs/tax-break-down-intangible-drilling-costs     Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA &SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. Investing involves risk, including the potential loss of principal. This is intended for informational purposes only. It is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual's situation. A ROTH Conversion is a taxable event. Consult your tax advisor regarding your situation. Investments in securities are subject to investment risk, including possible loss of principal. Prices of securities may fluctuate from time to time and may even become valueless. Gas and oil investments are speculative in nature and are sold by Private Placement Memorandum (PPM). Carefully read the PPM before investing. Certain accreditation requirements may apply. Donor Advised Funds represent an irrevocable gift of assets from the donor to the fund. Contributions made to the fund are irrevocable and cannot be returned or used for any other individual or used for any purpose other than grant making to charities. The gift is not an investment or a security. When evaluating a contribution to the fund, carefully consider the terms and conditions, limitations, charges, and expenses. Depending on the tax filing status, DAF contributions may or may not be tax deductible.

Chris joins Drew this week as a cohost as they talk to callers and answer questions regarding expenses, Vanguard, QCD's, wills, Roth IRA's, and more! Download and enjoy! 

“Therefore do not be foolish, but understand what the Lord's will is.” - Ephesians 5:17That verse is a good reminder that to follow God's will, we must first know it for all areas of our lives—including finances. Brian Holtz joins us today with a question: Does your budget reflect God's priorities or yours?Brian Holtz is the Chief Operating Officer at Compass Financial Ministry and the author of Financial Discipleship for Families: Intentionally Raising Faithful Children.Ownership vs. Stewardship One of the fundamental concepts of Christian finances is the distinction between ownership and stewardship. Psalm 24:1 reminds us, “The earth is the Lord's and all it contains.” In 1 Corinthians 1 and 2, we learn that we are stewards or managers of God's resources, and as such, we must be faithful to His goals and priorities rather than our own.God's Priorities for Money Scripture reveals five critical priorities for managing our finances in a way that honors God:Generosity—There are over 300 verses about giving and generosity. We are encouraged to give our first and best, never the leftovers.Providing for Family—1 Timothy 5:8 emphasizes the importance of providing for our families, stating that neglecting this responsibility is akin to denying the faith.Meeting Financial Obligations—Romans 13 urges us to meet our financial obligations, including paying taxes and repaying debts, reflecting our commitment as representatives of Jesus.Saving for the Future—Responsible saving is crucial to being faithful to the first three priorities during times of hardship or insufficient income.Enjoying God's Blessings—While enjoying God's blessings, we must ensure that this enjoyment does not take precedence over His greater priorities.Aligning Our Budget with God's Priorities If our budget isn't aligned with God's priorities, we need to admit our mistakes to God and recommit to His goals. As a family, we should make financial trades to align our budget lines with God's priorities.Generosity: What abundance could we cut back on to be more generous?Provision: Are we saving too much at the expense of our family's immediate needs?Debt Repayment: What could we stop doing to pay off debt faster?Enjoyment: Once priorities are in order, how can we honor God by enjoying His blessings?Aligning our finances with God's priorities honors Him and brings a more fulfilling and purposeful life.You can learn more about biblical money management by visiting the Learn section at CompassFinancialMinistry.org. You can find resources suited to your preferred learning methods, whether reading, watching, or listening.On Today's Program, Rob Answers Listener Questions:I love the idea of the QCD, and I know they work with IRAs. Do they work with 403b accounts?I used to have investments but had some high veterinary bills, and I'm on disability. I'm trying to get an emergency fund, but every month, I have to use the money I put aside. I need some encouragement on how to get his emergency fund because that's the first step I have to do.Is a reverse mortgage a good idea? Would we lose ownership of our home if we did this?I'm looking forward to starting a business and would like to know if I should open it as an LLC or an S corporation.I have my will and everything specified in it, including how things are divided regarding my house, estate, etc. I also have investments, and those are all I have beneficiaries on. My financial advisor says that I don't need a trust, but my kids are pushing me to get a trust to avoid probate. Resources Mentioned:Compass Financial MinistryWise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, J.D. Rich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Drew welcomes Leo this week as a cohost as they answer questions about ways to save money for grandchildren, QCD's while still working, what to do with old 401k's, bitcoin, and more! Download & enjoy! 

What are some of the biggest tax mistakes you should be avoiding when you file taxes? CPA Steven Jarvis has worked on thousands of tax returns. He focuses on helping people who have a long-term focus. He wants to make sure his clients only pay every dollar they owe and nothing more. It's not about getting a big tax return. It's about looking at the long-term picture and being proactive. We dig in and dissect the top tax mistakes you need to avoid in this conversation. You will want to hear this episode if you are interested in... [3:02] Making proactive choices to impact your taxes [4:47] Learning about the foreign tax credit [6:43] Rollovers from 401Ks to IRAs [11:01] Equity compensation and severance pay [13:07] Managing advanced charitable giving strategies [21:10] What you need to know about HSAs [26:32] Pay what you owe—and nothing more Rollovers from 401Ks to IRAs You'll likely roll over a 401K to an IRA only once or twice in your life. In theory, it should be simple—as long as the rollover is treated as a non-taxable event. It needs to be reported on a 1099-R form, which can be confusing. Tax-adjacent events go on your tax returns but you should not be taxed on them.  If you're working with a tax professional, you need to communicate that you're doing a rollover. Before the tax return is filed, make sure you look it over to see if your income changed. If it has—and it shouldn't have—a rollover being improperly filed may be the culprit.  Managing advanced charitable giving strategies A qualified charitable distribution (QCD) allows you to make a charitable contribution directly from an IRA to a charity. If you donate $1,000, you may save $200–$300 in taxes. If it's a charity that you care about, great. But if you're not charitably inclined, spending $1,000 to save $300 doesn't make sense.  But there are some other tax benefits. A QCD comes out of your income before your adjusted gross income is calculated. Why does that matter? Your adjusted gross income is part of the calculation to determine how much you pay for Medicare. Reporting this correctly is key. Most custodians don't report how much money went to a charity because the IRS hasn't created a way for them to do it. That's why you (or your financial planner) must provide this information when your taxes are filed. I will send a breakdown of QCDs, distributions, etc. to my clients so they can report it properly.  What you need to know about HSAs Steven sees people penalized for over-contributing to HSAs because the form (8889) is confusing and people fill it out incorrectly. That's the #1 thing you have to watch out for with these. One of the advantages of an HSA is that it can grow tax-free. If you can pay medical expenses from another source while funding the HSA, you'll also get a tax deduction. If you don't need the money for qualified medical expenses down the road, you'll just have to pay taxes on the money (which you can remove at age 65 without any penalties).  If you keep track of your HSA-eligible expenses as you go, and have sufficient documentation, you can also request reimbursement for things that happened in the past. What other issues does Steven find himself correcting frequently? Learn other tax mistakes to avoid in this episode.  Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Retirement Tax Services Podcast Steven's book, “Don't Get Killed on Taxes” Connect with Steven on LinkedIn  Retirement Tax Services Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact   Subscribe to Retire With Ryan

How much you get is not as important as how much you get to keep when it comes to inheritance. This episode your coaches share the plays that can help you get more bang for your Inherited IRA buck.

The Qualified Charitable Distribution is one of the most underutilized tax benefits, yet almost 25 million Americans can take it.There are many requirements for taking a Qualified Charitable Distribution (QCD), or QCD. You must be 70 ½ and have an IRA. If more folks understood QCDs better, they might take them. David Hogan joins us today with the ABCs of QCDs.David Hogan is the Principal of Clifton Larson Allen CPA's in Atlanta, GA. What is a Qualified Charitable Distribution (QCD)?Simply put, a QCD directly transfers funds from your Individual Retirement Account (IRA) to a qualified charity. This move doesn't offer a deduction, but you don't have to report the distribution as income, creating a unique tax advantage for those who qualify.How to Take a QCDTaking a QCD can be straightforward. If your IRA offers check-writing capabilities, you can write a check directly to your chosen charity. If not, you can set up a direct transfer online or over the phone. Your favorite charity can often assist you in setting this up if needed.Tax Advantages of a QCDA QCD can be particularly beneficial for those over 70 and a half if you're not itemizing deductions. You might not get a tax benefit from your charitable contributions if you take the standard deduction. However, with a QCD, you avoid recognizing the IRA distribution as income, effectively reducing your taxable income.Required Minimum Distributions (RMDs) and QCDsAlthough the required minimum distribution (RMD) age has been moved to 73, you can still benefit from a QCD. Distributions to a charity through a QCD count toward satisfying your RMDs without adding to your taxable income. This is especially useful for those with larger IRAs who don't need the funds for living expenses.Who Can Benefit from a QCD?QCDs aren't just for the wealthy. While those with large IRAs can undoubtedly benefit, anyone with an IRA who is charitably inclined can use a QCD to gain a tax advantage. If you're not itemizing deductions and usually take the standard deduction, a QCD allows you to give charitably without increasing your taxable income.Practical Tips for Using a QCDConsider replacing the charitable contributions you typically make from your after-tax dollars with distributions from your IRA. This strategy allows you to use your other assets for personal expenses while maximizing the tax benefits of your IRA distributions.A QCD is the best giving opportunity that many eligible individuals are not taking advantage of. If you have an IRA and are over 70 and a half, consider this tax-efficient way to support your favorite charities.On Today's Program, Rob Answers Listener Questions:What should I do with my 401k since I'm approaching retirement in March 2025? I'll have around $200,000 in it, and I wanted advice on whether to roll it over to an advisor or leave it where it is once I retire.Can I deduct the value of my labor for the repairs and maintenance I do on the rental property where I live? Since I own and live in the building with some tenants, I do much of the work to keep costs down. But I wanted to know if I could charge for my time or labor and have it be legal.Would it be wise to take out a home equity line of credit on my $181,000 mortgage and use that HELOC to pay my daily expenses? I would throw my entire paycheck towards paying down the principal on the mortgage, and I would pay it off within about four years. I would like your thoughts on whether that strategy is a good idea.Would it be wise to use my $215,000 annuity to pay off my $140,000 mortgage as soon as possible? I'm 54 years old and will be retiring in about five years, at which point I'll receive a yearly pension of around $85,000-$90,000. I wanted advice on utilizing my annuity and whether eliminating my mortgage debt made the most sense.Resources Mentioned:An Uncommon Guide to Retirement: Finding God's Purpose for the Next Season of Life by Jeff HaanenRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

The Qualified Charitable Distribution or QCD is one of the most underutilized tax benefits, yet almost 25 million Americans are eligible to take it. But because of their various requirements, more folks might take advantage of this option if they understood them better. On today's Faith & Finance Live, host Rob West will welcome David Hogan to talk about the ABCs of QCDs. Then Rob will take some calls and answer various financial questions. See omnystudio.com/listener for privacy information.

Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Associate Giuliana Barbagelata, CFP® highlight some of the financial questions and moves that investors often have after tax season. Read the Article: https://www.henssler.com/hidden-heroes-of-tax-season-how-a-financial-adviser-can-help 

Henssler Money Talks – April 20, 2024 Season 38, Episode 16 This week on “Money Talks,” Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Senior Associate Michael Griffin, CFP®, and Associate Giuliana Barbagelata, CFP® to cover the University of Michigan's Consumer Sentiment Survey, Retail Sales, and Industrial Production. Michael and Giuliana highlight some of the financial questions and moves that investors often have after tax season. The financial experts also answer listeners' questions on paying estate tax and if IRAs are “judgement proof.” Timestamps and Chapters 00:00 Market Roundup: April 15 – April 19, 202423:46 Case Study: Financial Moves Coming Out of Tax Season35:02 Q&A Time: Estate Tax and if IRAs are “Judgement Proof” Follow Henssler:  Facebook: https://www.facebook.com/HensslerFinancial/ YouTube:  https://www.youtube.com/c/HensslerFinancial LinkedIn: https://www.linkedin.com/company/henssler-financial/ Instagram: https://www.instagram.com/hensslerfinancial/ TikTok: https://www.tiktok.com/@hensslerfinancial?lang=en  X: https://www.x.com/hensslergroup  “Money Talks” is brought to you by Henssler Financial. Sign up for the Money Talks Newsletter: https://www.henssler.com/newsletters/ 

Today, we sat down with Professor Mark Alford, theoretical physicist and former chair of the Department of Physics at Washington University. Prof. Alford researches the physics of ultra-high density matter, such as in the core of a neutron star to get insights on how particles behave in situations that we do not encounter on Earth. He has also done important work on characterizing Quantum Chromodynamics, or QCD, which describes the strong interactions between quarks that make up larger particles like protons and neutrons. In this episode, we talk about some of the basics of quantum mechanics and how they are applied in studying astrophysical phenomena. We also touch on some important philosophical questions regarding how to use physics in understanding the nature of reality. We think the episode boils down many complex topics in physics so that anyone with a basic level of understanding will learn a lot. Title music: World Is Holding Hands by WinnieTheMoog https://creativecommons.org/licenses/by/4.0/legalcode

Did you know you can reduce your taxes by making a QCD right out of your IRA?  A QCD, also known as a Qualified Charitable Distribution, can be a great way to strategically reduce your tax bill.  But there are nuances and rules surrounding it that are important to understand.  In this episode of "Money Guide with Mary Sterk," Mary & Sterk Financial Advisor Julie Chadwick share some tips to help you maximize your QCD opportunity. Topics include:Required Minimum DistributionCharityTax ReturnCPABeneficiary501(c)(3)Donor Advised FundLump Sum DistributionTax BracketMortgage InterestInvestmentsAuditROTH IRADeductionsItemizingSubscribe to the “Money Guide with Mary Sterk” podcast on Apple Podcasts. Schedule an appointment with one of our advisors today!Follow us on FacebookFollow us on LinkedinSubscribe on YoutubeFollow us on Twitter

As you enter retirement, tax planning is something that must be prioritized. A Qualified Charitable Distribution (QCD) can be a great tool in your arsenal to help you minimize the taxes you have to pay. So what is a Qualified Charitable Distribution (QCD)? How can it actually help you lower your taxes? In this episode, I'm going to cover what a QCD is, how you make one, and how it can help lower your taxes. I'll also share a few examples of what a QCD might look like.  You will want to hear this episode if you are interested in... What is a Qualified Charitable Distribution? [1:34] How do you make a Qualified Charitable Distribution? [5:07]  How to note a QCD on your tax return [8:02] How we process Qualified Charitable Distributions [9:19]  How can this help you lower your taxes? [10:48]  What is a Qualified Charitable Distribution?  Let's back up for a minute and talk about what a Required Minimum Distribution (RMD) is. When you turn 73 years old, the IRS requires you to distribute a portion of your retirement accounts and pay taxes on the money. That's an RMD. The Tax Cuts and Jobs Act in 2017 made a big change to standard deductions. It allowed many people to pay less in taxes—but it limited the amount of charitable donations you could deduct on your taxes. Because of this, charities saw a large decline in the amount of donations they received.  One way to increase charitable giving in a tax-friendly way is a Qualified Charitable Distribution. A QCD allows you to donate a portion of your RMD o a charity and not pay tax on the amount you donate.  For the last few years, you could donate up to $100,000 from your IRA and not have to pay taxes on it. Thanks to the SECURE Act 2.0, starting in 2024, the annual QCD limit has increased to $105,000 per year per individual.  How do you make a Qualified Charitable Distribution? When you've given to charities, you've likely given them cash or a check. You let your accountant know what you gave and they note it on your taxes. When you make a QCD, you need to contact your IRA custodian and they send money directly from your IRA directly to the charity of your choosing. I cannot emphasize enough: You cannot take receipt of the money first or it will be a taxable distribution.  Each custodian has a different process, but generally, you complete a form with the charity's information (you'll need the charity's address and Tax ID number) and submit it. Secondly, most 501C3 charities can accept a QCD but you'll want to confirm with them first.  People often improperly report a QCD on their taxes and end up paying taxes on them when they shouldn't have to. Listen to learn how you can avoid making mistakes on your taxes.  How can a QCD help you lower your taxes?  If your income is over a certain threshold, you'll have to pay an additional amount of money on your Medicare Part B premiums. In 2024—for a married couple filing jointly—if your income goes over $258,000, you'll have to pay double for your premium.  The standard premium per person is $174.70. You'd have to pay $349.90 per month per person. This IRMA charge kicks in if you're just $1 over the limit. But if you make a QCD to a charity to keep you from going over the limit, it can save you premium costs.  I share some other need-to-know details—and get into the nitty-gritty details of how to note a QCD when you file your tax return—in this episode. Listen to learn more! Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact   Subscribe to Retire With Ryan

At this point, you may be saying to yourself, “this is good information and all, but I'm not retired, and I won't be for awhile, so what's the point?” If this is you, I would encourage you to keep listening. As I said in a prior episode, you don't just show up to retirement without preparation. And if you do, you are probably not prepared to give generously in retirement. I want to share some ideas for everyone today. The truth is that there are things that we can all do to retire generously, regardless of where we are in the journey.

Once you reach a certain age the government forces you to take withdrawals from your retirement account. These withdrawals affect your taxable income, medicare premiums, and even your ability to leave money to your heirs. I'm referring to required minimum distributions or RMDs. Most people are familiar with RMDs, but not as many people are aware of planning opportunities that they can use to help control the effects of making required withdrawals. Sam shares practical strategies that we can use to get the most out of our distributions.    Episode Highlights:  [02:48] Sam shares an example of a required minimum distribution. 401k and IRA savings are pre-tax. When we take funds out they are going to be taxable. [04:28] RMDs are required once someone hits 73 years old for this year. People are living longer, so they are moving the ages back. [06:34] If you have multiple accounts, each one will have its own RMD. You can take the aggregate amount from any account. [07:30] There are penalties for not taking your RMDs.  [08:29] If you take money out, you need to pay taxes on it. [09:39] If you put money in a 529 plan, you can save on federal taxes. You can also fund a Roth for a family member. [10:55] Qualified Charitable Distributions or QCDs can be given straight from a retirement account to a qualified charity. This will satisfy the RMD and no one will have to pay taxes on those dollars. [12:04] If you're already donating to a charity, you might want to consider a QCD.  [12:42] A Roth conversion is where you take pre-tax dollars and convert them to a Roth which is tax-free. You pay taxes when you withdraw the money. Once it's in the Roth, it can grow tax-free for the remainder of your life. [13:39] A Roth conversion is a great strategy for people who care about legacy. [15:36] Bonus: Still working, you don't have to start taking your RMDs until you retire.    Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth

I've always said that generous people tend to be happier and more successful. But that can be a bit of a chicken and the egg situation. Are generous people happier because they are more successful? Or are they more successful because they are happier? I don't really know for sure, but I do think that there is a strong correlation between the two. I said that we will only dip our toe in the waters of psychology. There are reasons for that. A psychologist I am not. I'm a financial advisor. But you can't deny that the two subjects often crossover.

On today's epiosode we explore some outside the box ideas to help family and friends with two big financial burdens. Medical expenses and tuition expenses. By using direct payments to the provider or institution, you exclude the gift from your gift tax return, which allows you to be more generous in other areas. After all, if you are planning to be charitable in retirement, remember charity begins at home. Someone once said that, and it sounds good to me.

When does it make sense to itemize deductions? Well, if you are far exceeding the standard you'll want to itemize. But you can also look at opportunities to “bunch” charitable donations. Sounds pretty simple, right? We all know that the tax code is anything but simple, so you need to make sure that your tax preparer is totally on board before you employ a bunching strategy. Learn more on today's episode.

We've covered a lot of ground in the first few episodes. We've talked about a couple of different strategies for tax-efficient giving. We talked about ideas that specifically benefit charitable organizations. We talked about ideas that specifically benefit the next generation, likely your children. And today we are going to explore some ways to benefit both. As an added bonus, some of these ideas may be more beneficial to you as well. I'm talking about tax-efficient beneficiary designations. Don't worry, it sounds a lot fancier than it really is. Let's get into the nuts and bolts of it.

Sam and Wealthquest President David Kern continue their insightful dialogue on giving and generosity in this episode. They delve into tax-deductible methods of giving, highlighting the benefits of donating appreciated shares to avoid capital gains taxes. The conversation also explores the types of shares that may not be ideal for donation.  Furthermore, they discuss the advantages of donor-advised funds, combining charitable giving with effective tax strategies. This episode emphasizes the importance of integrating generosity with a comprehensive financial plan, ensuring flexibility and tax benefits in your philanthropic efforts.   Episode Highlights:  [02:55] We're now shifting gears to gifting to nonprofits or charities. This would be any 5013c that doesn't pay income tax. [03:11] You can be charitable and benefit these organizations and get a tax benefit in the process.  [03:26] Gifting shares or assets to charities. If you sell a stock that has increased in value, you'll have to pay income tax on it. If you gift that stock to a charity, neither of you pay taxes on it. [04:00] You can also record this on your Schedule A to see if it works for you this tax year. [05:08] You don't want to donate shares that have lost value. You want to donate shares with the lowest cost basis or the greatest amount of appreciation. [06:27] Think of a donor-advised fund like a holding pen for charitable donors. This fund can also receive appreciated securities. [09:53] Bunching is two years worth of giving in one year.  [12:27] Qualified charitable distributions or QCDs. Required minimum distributions RMDs.  [14:19] If you're already charitably inclined and you're going to give a certain amount, use a QCD instead of paying taxes on your required minimum distributions. [17:25] You can also make charities the beneficiaries of your accounts. If you leave an IRA to a charity, they won't have to pay taxes on that.  [18:47] Bonus: Specific to Ohio. Scholarship granting organization SGO is a new Ohio based tax scholarship program. It receives contributions from donors and grants scholarships to eligible students. [20:11] Giving to an SGO will reduce state tax liability.   Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements.   Resources & Links Related to this Episode Wealthquest Get Started Living a Rich Life: The No-Regrets Guide to Building and Spending Wealth David Kern The Power of Strategic Giving to Individuals - Part 2 What Motivates Generosity? - Part 1 Ohio SGO

Roth conversions can be done systematically as a part of a really effective financial plan. It's a strategy that requires meticulous planning and perfect execution, so you need to proceed with caution. However, if retiring generously includes being generous to the next generation, you can see why this is a worthwhile endeavor.

One of the most effective strategies for the charitably inclined is the use of Qualified Charitable Distributions, or QCDs. That's right, another fun acronym for you to remember. But if you simply remember that QCD is short for tax savings, you'll be fine. The great thing about QCDs is that we aren't re-inventing the wheel here. We're actually talking about doing something that you probably already do. The difference is the order of the steps that we use.

We'll spend our time today talking about the how and why of RMDs, and if you follow along, you'll see the conundrum that they create. In later episodes we'll talk about tax savvy solutions to resolve the conundrum, but for today we first need to understand what we're dealing with. Before we solve the problem, we first have to have a grasp on what the problem actually is. Here we go.

Like most worthwhile endeavors, planning is essential to being wildly generous in retirement. And these 3 milestone ages present planning opportunities to set ourselves up to do just that. We will continue to build the foundation by looking at these milestones ages individually in episodes to come.

We want to thank the folks at the National Christian Foundation for a great article on an alternative way to give and a new twist in 2023.Here are some alternative giving strategies for those of you who might be feeling the pinch financially but still have a heart to support your favorite charities. Drawing on insights from an article by the National Christian Foundation, we're focusing on using your IRA for charitable giving.Of course, these are general recommendations and may not apply to everyone. You should consult with your CPA for specific advice based on your circumstances.Okay, here are a few terms you need to understand first.Adjusted gross income or AGI – This is basically your income before you take your standard or itemized deduction. Regular distribution – This is just money taken from your IRA after you turn 59 ½. It's reported as income on your tax return.Qualified charitable distribution or QCD. This is a distribution from an IRA paid directly to the qualified charity after the owner turns 70½. In 2023, an IRA owner can make QCDs of up to $100,000 annually. The amount is not reported as taxable income on your tax return. Required minimum distribution or RMD. – This is money that must be withdrawn from an IRA when the owner reaches 72 or 73, depending on their birthday. You can satisfy this requirement by making regular distributions, QCDs, or both from your IRA. PERSONALIZED STRATEGIES BASED ON AGE FOR IRA GIVING:For those 59 and a half or older: If you're in this age group and own an IRA, you have the option to make regular distributions without facing a 10% penalty. Although taxes are still applicable on these distributions, you can balance it out by making charitable gifts, which can offset some of your federal income tax. It's crucial to note that in 2023, the deduction limit for cash gifts is 60% of your Adjusted Gross Income (AGI), but this will change to 50% after 2025. At age 70 and a half: This is a pivotal age for IRA owners. You can start making a Qualified Charitable Distribution (QCD) directly from your IRA to a charity, and the best part is that this doesn't trigger a taxable event since it's not included in your AGI. A new development in 2023 allows you to use up to $50,000 of your QCD to fund a Charitable Gift Annuity. This annuity will provide regular lifetime payments to you or you and your spouse, with the remainder benefiting the charity.Once you reach 72: At this stage, every IRA owner must start taking an annual Required Minimum Distribution (RMD), if you haven't started already. You can fulfill this requirement with regular distributions, QCDs, or both. For instance, if your RMD is $50,000, you can opt for a $30,000 QCD directly to a charity and manage the remaining $20,000 as a regular distribution. You might also consider making that $20,000 a deductible gift to a donor-advised fund, like the one offered by the National Christian Foundation. For more details and to explore these strategies further, we recommend visitingNCF Giving. ON TODAY'S PROGRAM, ROB ANSWERS LISTENER QUESTIONS:As a parent, I'm concerned about my young, debt-free daughter and her fiancé planning to buy a house with an FHA loan and a small down payment. Is this a wise decision in the current economic climate?I am 65 years old and planning to retire soon. I have a $50,000 student loan and am considering withdrawing from my 401k to pay it off. Is this a good strategy for entering retirement debt-free?As a legal custodian of a minor receiving an inheritance, I'm exploring the best way to manage this money. Should I opt for a custodial account or a trust, and what are UTMAs and UGMAs?I'm 58 years old and considering taking a lump sum distribution from my pension. How can I avoid the 20% federal tax on this distribution, and what are my options for rolling it over?I receive a pension due to a divorce and have started my Social Security benefits. I also work part-time and am rebuilding my credit. Can I realistically save for a townhome in a few years, given my financial situation?Should I tithe on an insurance claim check I received for roof repair, considering it is meant to cover a loss and not an increase in wealth? RESOURCES MENTIONED:Find a Certified Kingdom Advisor Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network as well as American Family Radio. Visit our website at FaithFi.comwhere you can join the FaithFi Community, and give as we expand our outreach.   Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

A Washington Post advice columnist suggested firing a financial advisor friend. How can you find the right person to manage your money? Then we hear from lots of listeners: Is it better to invest fixed income dollars in bonds or laddered CDs? Will moving from one brokerage firm to another cause a taxable event? When is the best time to make a QCD? Why doesn't the Fed raise rates in one big move? How can an employee get out of an Edward Jones 401a? Which of many bad choices should a school district employee use in 403b? How does Merrill Lunch differ from Schwab? Learn more about your ad choices. Visit megaphone.fm/adchoices