Ashlea Ebeling
speaker
2,002 appearances
38 recordings
1 series
first heard Jul 2022
last heard Feb 2025
Ashlea Ebeling’s voice in public audio — every appearance, attributed to the second.
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Appearances
And some experts say that changing the rates is one of the easy ways that they'll be able to reduce costs and get more tax revenue.
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He's completing a series of Roth conversions.
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That's a classic example of a tax strategy where you accelerate income, something you do if you think tax rates are going up in the future.
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He's moved hundreds of thousand dollars from his traditional tax deferred account into a Roth account where any future growth or withdrawals will be tax free.
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So you're paying the taxes today.
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And for him, it's the 24 percent marginal rate today.
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which goes up to this big bracket, up to $383,900 for a married couple this year.
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So he can pay that much at the 24% rate, and then it grows tax-free, and then he figures otherwise, if he just kept the money in the regular IRA, he'd have to take it out at a higher rate.
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The way he put it is, I'm avoiding larger taxes in the future.
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Most financial planners for the wealthy are saying the state planning is even more important than the income tax planning if you're over $10 million or above in net worth.
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So these people are making big gifts.
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They're setting up trusts.
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By giving away assets now to their children outright or in trust, they can essentially lock in the current estate tax exemption, and that potentially saves millions of dollars at death.
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The state tax exemption now is going to be
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Nearly $14 million for 2025, so $13.99 million.
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And then in 2026, again, if Congress doesn't change anything, it sunsets and goes back to $7.2 million.
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So in that case, again, if you're in the brackets where they are now and you have room in that bracket, you might consider accelerating 2025 bonus money into 2024 and then similarly 2026 bonus money into 2025.
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And then we'll see where things stand in 2026.
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So that would mean that you're paying at this certain tax rate that you know what it is for the next two years, as opposed to waiting when it's possibly going to be higher in the future.
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There's this like huge caveat to that.
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Showing 441–460 of 2,002 · page 23 of 101
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