Final Quarter Financial Tasks to Address for 2025

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The year is winding down, but the window for smart financial moves is wide open. What can you do in the final 90 days to potentially save thousands in taxes and set yourself up for a successful new year?

In this episode, Dean Barber and Matt Kasper provide your essential year-end financial checklist. We cover five critical tasks every retiree and pre-retiree should address before December 31st, dive deep into the most tax-efficient way to withdraw money in retirement, and highlight the single costliest mistake you can make at year-end.

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Tax-Loss Harvesting vs. Tax-Gain Harvesting
https://youtu.be/MzdDOzQEAg8?si=SWMsiEMjqHVoPD-k

Required Minimum Distribution Case Study
https://youtu.be/_t7XTSfU1po?si=WQbwICah-l672l32

Tax Reduction Strategies: https://bit.ly/3KrUQgg

Retirement Checklist: https://bit.ly/4gLlpZE

Sequence of Returns Risk and Why Timing Matters: https://bit.ly/3WeqVdV

Missouri Bill Aims to Eliminate Capital Gains Tax: https://bit.ly/3KuzT4b

0:00-1:55 - Introduction
1:55-2:50 - Overview of Final Quarter Tasks to Address
2:50-3:45 - Preview of Our Question from One of Our Listeners and Don’t Do That Segment
3:45-9:10 – Should Someone 65 or Older Live Off Pre-Tax IRAs First or Their Brokerage Account and Then Do Roth Conversions?
(3:45): Add screenshot or text box of the listener’s question.
(4:15): Reason No. 1: To build the most tax-efficient retirement that we can.
(5:00): Reason No. 2: To reduce future RMDs and Medicare IRMAA surcharges.
(9:00): To create a tax-free legacy.
9:10-18:10 - Final Quarter Task No. 1 – Year-End Tax Planning
18:10-20:45 - Final Quarter Task No. 2 – Maximize Retirement Plan Contributions
20:45-22:55 - Final Quarter Task No. 3 - Take Your Required Minimum Distributions
22:55-26:25 - Final Quarter Task No. 4 - Review and Rebalance Your Portfolio
26:25-28:05 - Final Quarter Task No. 5 – Review Your Health Insurance Benefits During the Medicare Annual Open Enrollment Period
28:05-32:30 - Don’t Do That!
32:30-37:10 - Additional Final Quarter Tasks
37:10-37:45 – Start a Conversation with Our Team

Sources:
• Medicare Open Enrollment (Medicare.gov): https://www.medicare.gov/sign-up-change-plans/joining-a-health-or-drug-plan
• IRS on Tax-Loss Harvesting & Capital Gains: https://www.irs.gov/taxtopics/tc409
• IRS on Qualified Charitable Distributions (QCDs): https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-distributions-withdrawals
• IRS 2025 Retirement Plan Contribution Limits (Note: Link reflects current data; will update when 2025 limits are finalized): https://www.irs.gov/newsroom/401k-limit-increases-to-23000-for-2024-ira-limit-rises-to-7000
• Vanguard on Rebalancing: https://investor.vanguard.com/investor-resources-education/portfolio-management/rebalancing-your-portfolio
• IRS on RMD Penalties (SECURE 2.0 Changes): https://www.irs.gov/retirement-plans/retirement-plan-and-ira-required-minimum-distributions-faqs
• Medicare IRMAA Parts B & D Surcharges (Medicare.gov): https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-premiums
• IRS Rules for Beneficiaries (SECURE Act): https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-beneficiary
https://www.ssa.gov/oact/STATS/table4c6.html

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Investment advisory services offered through Modern Wealth Management, LLC, a investment adviser registered.

The views expressed represent the opinion of Modern Wealth Management an SEC Registered Investment Adviser. Information provided is for illustrative purposes only and does not constitute investment, tax, or legal advice. Modern Wealth Management does not accept any liability for the use of the information discussed. Consult with a qualified financial, legal, or tax professional prior to taking any action.

Видео Final Quarter Financial Tasks to Address for 2025 канала America's Wealth Management Show