As the holiday season approaches, many of us find ourselves gathering with loved ones, sharing stories, laughter, and sometimes, unexpected topics. In this holiday edition of the show, Don brings a fascinating mix of cheer and wisdom to the table by helping you with three vital financial conversations you can have with loved ones this holiday season.

Here’s some of what we discuss in this episode:

• What does Don think about the drones that have been over New Jersey?
• Why you should talk with aging parents about their financial and legal documents.
• The best approach to guiding children towards financial independence.
• How to frame discussions with your spouse.
• Don’s favorite Christmas movies.

Get in touch with Don and learn more: https://doncashpodcast.com/

December is here, so in this episode, Don and Marc take a moment to look ahead at what changes may be coming in 2025, particularly when it comes to IRA planning and potential tax shifts. Listen in as they break down the key factors to consider when deciding whether to convert your traditional IRA to a Roth IRA, including tax rates, the timing of your conversion, and how it fits into your overall retirement strategy.

Throughout the conversation, Don shares some practical examples, such as how retired couples or those nearing retirement can benefit from converting at today’s lower tax rates. The episode also covers important considerations like Medicare premiums and the potential for future changes to Social Security taxation.

Here’s some of what we discuss in this episode:

• Converting traditional IRAs to Roth IRAs vs deferring taxes
• Ideal scenarios for conversions, such as being retired or working part-time before age 73
• The potential impact of Roth conversions on Medicare premiums (IRMAA)
• The advantages of being married for Roth conversions
• Changes coming down the pike for 2025 to have on your radar

Get in touch with Don and learn more: https://doncashpodcast.com/

After months of political debates and campaign ads, the election season has finally come to a close. While some of our clients are celebrating the results, others are feeling disappointed. However, the reality is that many of the key financial issues we faced before remain unchanged. Taxes, investing, Medicare, long-term care, estate planning—these are the areas we’ll continue navigating regardless of the election outcome.

In today’s episode, we’re going to discuss what we might expect now that the Republicans have secured control of the Senate and likely the House of Representatives. We’ll also dive into tax and planning considerations in the wake of the election and explore what lies ahead.

Here’s some of what we discuss in this episode:

• The possible extension of the Tax Cuts and Jobs Act
• State and local tax (SALT) proposals
• The potential elimination of taxes on Social Security benefits
• The Social Security solvency issue and proposed changes

Links for today's show

Federal Tax Rates –

https://taxfoundation.org/data/all/federal/2024-tax-brackets/

The SALT Deduction –

https://suozzi.house.gov/media/in-the-news/trump-signals-hed-restore-full-salt-deduction-democrats-are-skeptical

https://www.cnbc.com/2021/11/19/house-democrats-pass-package-with-80000-salt-cap-through-2030.html

Taxation of Social Security Benefits –

https://taxfoundation.org/blog/social-security-benefits-tax-inflation/

The Social Security Trust Fund and Future Cuts-

https://www.ssa.gov/policy/docs/ssb/v70n3/v70n3p111.html

The Debt Clock –

https://www.usdebtclock.org/

Get in touch with Don and learn more: https://doncashpodcast.com/