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The Top End of Year Tax Planning Tips for 2021

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The Top End of Year Tax Planning Tips for 2021

 

 

Taxes aren’t top of the fun things to do every year. In fact, it’s something that a lot of us avoid. But if you do a little planning and preparation in advance, it can make tax time and your finances run a little smoother.

 

In this episode, I talk with Benjamin Brandt about the list of tax items you should review at the end of the year, mistakes you can avoid, and what military families need to know about taxes.

 

Benjamin Brandt is a CERTIFIED FINANCIAL PLANNER™ and Founder of Capital City Wealth Management, a Bismarck, North Dakota fee-only financial planning company. He’s an Iraqi combat veteran having served in the North Dakota Army National Guard for 8 years, including a 15-month deployment to Iraq in 2003. Ben’s a financial expert that’s been featured in The Huffington Post, CNBC.com, Forbes, Business Insider, and ClarkHoward.com.

 

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The Military Money Show is supported by Navy Federal Credit Union. I can’t wait for Christmas and the holidays this year. This year I plan to be over the top in my festivities. If you’re ready to “sleigh” the season, Navy Federal’s cashRewards can help. When you have cashRewards and sign up for direct deposit you can earn up to 1.75% cashback on all your holiday spending and redeem the rewards as you earn them. To learn more visit NavyFederal.org.

 

End of Year Tax Planning Tips for 2021 Details

 

  • Taxes require your attention
  • Tax planning in retirement
  • End of the year tax planning
  • Roth vs Traditional IRA
  • Shifts in strategy as you get closer to retirement
  • Actions you should take at the end of the year
  • Common mistakes to avoid
  • Donor-advised fund
  • Advice for working with your advisor
  • Importance of accountability and having uncomfortable money conversations
  • Tips to avoid surprises on tax day

Related: How to Make Your Military Taxes Ready

 

End of Year Tax Planning Tips for 2021 Resources

More Podcast: How to be Better Prepared for Tax Season

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Disclosure

These notes may contain links to our affiliate products or services, which means I might get compensation when you click or buy. That said, I’m only going to put affiliate links that are in line with our podcast discussion.

 

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