If you're a business owner, high-income earner, or someone who simply wants to stop leaving money on the table, this episode lays out six powerful year-end tax strategies you can still take advantage of before December 31. These are the moves that help reduce taxes, create long-term advantages, and bring real clarity to your financial picture.
In this quick yet high-impact conversation, Jason Labrum and Alex Klingensmith break down the exact steps our clients take every December, from fully funding retirement plans and executing Roth conversions to using donor-advised funds and maximizing tax-loss harvesting. Each strategy can create meaningful tax savings when implemented correctly and tailored to your financial situation.
If you’ve ever wondered, “What should I be doing before year-end to avoid overpaying the IRS?” This episode is your guide.
What We Cover in This Episode:
📌 How fully funding retirement plans can still reduce 2024 taxable income
📌 When Roth 401(k) and Roth conversions make sense
📌 Why business owners should consider cash balance and defined benefit plans
📌 How a cost segregation analysis can put hundreds of thousands back in your pocket
📌 The right way to use Qualified Charitable Distributions (QCDs)
📌 Tax loss harvesting strategies, and the biggest mistakes to avoid
📌 Why donor-advised funds are a powerful tool for high earners and families focused on legacy
Every one of these strategies becomes more effective when tailored to your goals, especially for entrepreneurs and successful professionals who want clarity and confidence in their financial decisions.
💬 Book a FREE consultation with us
Want a personalized review of your year-end planning? Schedule a no-cost, no-obligation consultation with our IDA Wealth team.
📬 Contact Jason directly: jason@financialdetox.com
🌐 Learn more: https://idawealth.com
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Disclosure:
The information in this video is for educational purposes only and should not be considered personalized investment, financial, tax, or legal advice. Some statements refer to outcomes experienced by actual clients, but these examples are general in nature, may not be typical, and are not a guarantee of future results. Any illustrations or scenarios are for demonstration only and should not be relied upon as predictive. All investments involve risk, including possible loss of principal, and no statement here should be interpreted as a promise of performance or tax benefit. Tax-related strategies involve specific rules, limitations, eligibility requirements, costs, and potential risks, and it is important to evaluate whether any approach discussed is appropriate for your personal situation. IDA does not provide specific tax advice; viewers should consult a qualified tax professional or attorney before implementing any strategy. Intelligence Driven Advisers (“IDA”) is an SEC-registered investment adviser; registration does not imply a certain level of skill or training. Before engaging IDA, please review our Form ADV and Form CRS at idawealth.com to understand our services, fees, and potential conflicts of interest.
14 mins