<description>&lt;p class="p1"&gt;Will your taxes go up? Stay the same? Go down, even? Jeffrey Levine is Chief Planning Officer at Focus Partners, Professor of Practice in Taxation at the American College of Financial Services, and the Lead Financial Planning Nerd at Kitces.com. In other words, he’s one of the savviest tax minds in the country. Jeff returns to the show today on Your Money, Your Wealth® podcast number 524 with Joe Anderson, CFP® and Big Al Clopine, CPA, with his thoughts on what will happen to taxes under the new administration, saving for retirement in a Roth IRA vs. a traditional IRA, managing inherited retirement accounts, and the future viability of Social Security. Plus, what should you do with required minimum distributions when you don't need the money to live on? How do you calculate the maximum amount you should convert from your retirement account to a tax-free Roth account, and how much should you convert - or not - to keep RMDs under control? Finally, how can minor beneficiaries avoid probate?&lt;/p&gt; &lt;p class="p1"&gt;Free financial resources &amp; episode transcript: &lt;strong&gt;&lt;a href= "https://bit.ly/ymyw-524"&gt;https://bit.ly/ymyw-524&lt;/a&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;strong&gt;LIMITED TIME SPECIAL OFFER: DOWNLOAD&lt;/strong&gt; &lt;a href= "https://purefinancial.com/ymyw/#specialoffer"&gt;&lt;strong&gt;The DIY Retirement Guide&lt;/strong&gt;&lt;/a&gt; &lt;strong&gt;by Friday April 11, 2025!&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;strong&gt;WATCH&lt;/strong&gt; &lt;a href= "https://purefinancial.com/ymyw/episodes/take-control-of-your-retirement-plan/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-524"&gt; &lt;strong&gt;Take Control of Your Retirement Plan&lt;/strong&gt;&lt;/a&gt; &lt;strong&gt;on YMYW TV&lt;/strong&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s2"&gt;&lt;strong&gt;ASK Joe &amp; Big Al for your&lt;/strong&gt; &lt;a href= "https://purefinancial.com/ymyw/ask-joe-and-al/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-524"&gt; &lt;span class="s3"&gt;&lt;strong&gt;Retirement Spitball Analysis&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s2"&gt;&lt;strong&gt;SCHEDULE your&lt;/strong&gt; &lt;a href= "https://purefinancial.com/lp/free-assessment/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-524"&gt; &lt;span class="s3"&gt;&lt;strong&gt;Free Financial Assessment&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s2"&gt;&lt;strong&gt;SUBSCRIBE to&lt;/strong&gt; &lt;a href= "https://www.youtube.com/playlist?list=PLaYddQ5LA8egnNwVr1qIkg8DDOeIbrCkI"&gt; &lt;span class="s3"&gt;&lt;strong&gt;YMYW on YouTube&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s2"&gt;&lt;strong&gt;DOWNLOAD&lt;/strong&gt; &lt;a href= "https://purefinancial.com/white-papers/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-524"&gt; &lt;span class="s3"&gt;&lt;strong&gt;more free guides&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s2"&gt;&lt;strong&gt;READ&lt;/strong&gt; &lt;a href= "https://purefinancial.com/learning-center/blog/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-524"&gt; &lt;span class="s3"&gt;&lt;strong&gt;financial blogs&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p2"&gt;&lt;span class="s2"&gt;&lt;strong&gt;WATCH&lt;/strong&gt; &lt;a href= "https://purefinancial.com/ask-pure/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-524"&gt; &lt;span class="s3"&gt;&lt;strong&gt;educational videos&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;span class="s1"&gt;&lt;strong&gt;SUBSCRIBE to the&lt;/strong&gt; &lt;a href= "https://purefinancial.com/lp/newsletter-sign-up/?utm_source=LibsynDestinations&amp;utm_medium=podcast&amp;utm_campaign=YMYW-524"&gt; &lt;span class="s3"&gt;&lt;strong&gt;YMYW Newsletter&lt;/strong&gt;&lt;/span&gt;&lt;/a&gt;&lt;/span&gt;&lt;/p&gt; &lt;p class="p1"&gt;&lt;strong&gt;Timestamps:&lt;/strong&gt;&lt;/p&gt; &lt;p class="p1"&gt;00:00 - Intro: This Week on the YMYW Podcast&lt;/p&gt; &lt;p class="p1"&gt;01:05 - Will These Historic Low Tax Rates Be Extended? Insight from Jeff Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF, BFA™, MSA&lt;/p&gt; &lt;p class="p1"&gt;19:54 - Make These 3 Investments for a Happy Retirement and Watch Take Control of Your Retirement Plan on YMYW TV&lt;/p&gt; &lt;p class="p1"&gt;21:06 - What to Do With Required Minimum Distributions When You Don't Need the Money to Live On? (Judi, San Diego)&lt;/p&gt; &lt;p class="p1"&gt;24:40 - How Much NOT to Convert to Roth to Keep RMDs Under Control? (DH from SoCal)&lt;/p&gt; &lt;p class="p1"&gt;32:26 - LIMITED TIME SPECIAL OFFER: Download the DIY Retirement Guide by Friday, April 11, 2025!&lt;/p&gt; &lt;p class="p1"&gt;33:39 - How to Calculate How Much Roth Conversion I Should Do? (Joe, voice)&lt;/p&gt; &lt;p class="p1"&gt;38:42 - How Can I Reduce My Required Minimum Distributions? (Joel, CA)&lt;/p&gt; &lt;p class="p1"&gt;40:18 - How Can Minor Beneficiaries Avoid Probate? (Esther, San Francisco)&lt;/p&gt; &lt;p class="p1"&gt;46:04 - YMYW Podcast Outro&lt;/p&gt;</description>

Your Money, Your Wealth

Joe Anderson, CFP® & Alan Clopine, CPA of Pure Financial Advisors

Will the Tax Cuts and Jobs Act Be Extended? - 524

APR 8, 202547 MIN
Your Money, Your Wealth

Will the Tax Cuts and Jobs Act Be Extended? - 524

APR 8, 202547 MIN

Description

Will your taxes go up? Stay the same? Go down, even? Jeffrey Levine is Chief Planning Officer at Focus Partners, Professor of Practice in Taxation at the American College of Financial Services, and the Lead Financial Planning Nerd at Kitces.com. In other words, he’s one of the savviest tax minds in the country. Jeff returns to the show today on Your Money, Your Wealth® podcast number 524 with Joe Anderson, CFP® and Big Al Clopine, CPA, with his thoughts on what will happen to taxes under the new administration, saving for retirement in a Roth IRA vs. a traditional IRA, managing inherited retirement accounts, and the future viability of Social Security. Plus, what should you do with required minimum distributions when you don't need the money to live on? How do you calculate the maximum amount you should convert from your retirement account to a tax-free Roth account, and how much should you convert - or not - to keep RMDs under control? Finally, how can minor beneficiaries avoid probate?

Free financial resources & episode transcript: https://bit.ly/ymyw-524

LIMITED TIME SPECIAL OFFER: DOWNLOAD The DIY Retirement Guide by Friday April 11, 2025!

WATCH Take Control of Your Retirement Plan on YMYW TV

ASK Joe & Big Al for your Retirement Spitball Analysis

SCHEDULE your Free Financial Assessment

SUBSCRIBE to YMYW on YouTube

DOWNLOAD more free guides

READ financial blogs

WATCH educational videos

SUBSCRIBE to the YMYW Newsletter

Timestamps:

00:00 - Intro: This Week on the YMYW Podcast

01:05 - Will These Historic Low Tax Rates Be Extended? Insight from Jeff Levine, CFP®, CPA/PFS, ChFC®, RICP®, CWS, AIF, BFA™, MSA

19:54 - Make These 3 Investments for a Happy Retirement and Watch Take Control of Your Retirement Plan on YMYW TV

21:06 - What to Do With Required Minimum Distributions When You Don't Need the Money to Live On? (Judi, San Diego)

24:40 - How Much NOT to Convert to Roth to Keep RMDs Under Control? (DH from SoCal)

32:26 - LIMITED TIME SPECIAL OFFER: Download the DIY Retirement Guide by Friday, April 11, 2025!

33:39 - How to Calculate How Much Roth Conversion I Should Do? (Joe, voice)

38:42 - How Can I Reduce My Required Minimum Distributions? (Joel, CA)

40:18 - How Can Minor Beneficiaries Avoid Probate? (Esther, San Francisco)

46:04 - YMYW Podcast Outro