Talkin' Taxes: Year End Planning Thoughts
The Random Gleanings duo of Chris Beard & Jesse Hansford welcome a guest to the show for the first time this week, Brandon Esco, CPA. We’ve known Brandon for a while now and his willingness to come on camera offered us the great advantage of being able to offer YOU some great thoughts, directly from a tax pro, on tackling tax planning in advance of year end.
– Know Your Marginal Bracket – potentially allows for some strategic decisions before year-end that may benefit you for your 2022 taxes, or for tax liabilities well into the future. AVOID the BIG MARGINAL INCREASES!
– Business Owners – Are you familiar with PTE? Depending on what state you live in, it could help you mitigate the SALT Cap deductions.
– Qualified Charitable Distributions – QCD, QCD, QCD!!! If you (or a loved one) is above 70 1/2 and already giving to a church or charitable organization regularly, USE THE QCD!
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