Discover the benefits of Qualified Charitable Distributions (QCDs) in this informative episode of Elevate Wealth! Deanne Rosso is joined by Rob Fezekas, Director of Investment Policy, to explain how QCDs work, who qualifies for them, and how they can lower your tax bill. Learn: ✔ What a Qualified Charitable Distribution (QCD) is ✔ Eligibility requirements to use a QCD ✔ How QCDs can satisfy Required Minimum Distributions (RMDs) and reduce taxable income If you’re 70½ or older and want to give to charity while optimizing your tax strategy, this video is for you! To learn more about how QCDs could benefit your financial plan., visit elevate-wealth.com and let’s talk! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning #yearendgiving #rmds #taxdeadlines #rothira #charity #charitablegiving #charitysupport #taxdeduction

In this video, Deanne Rosso, President & CEO of Elevate Wealth Advisory, is joined by Rob Fezekas, Director of Investment Policy, to explain the tax implications for both the giver and recipient of non-charitable gifts. Rob discusses how recipients generally don't owe taxes on gifts, but may face capital gains taxes if they sell appreciated assets. For givers, there’s an $18,000 annual gift exclusion per recipient ($36,000 for married couples), meaning most gifts fall below the taxable threshold. For larger gifts, Rob explains how the lifetime gift and estate tax exclusion of $13.6 million comes into play. For more help integrating non-charitable gifts into your financial plan, visit elevate-wealth.com and let’s talk! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning #yearendgiving #rmds #taxdeadlines #rothira #charity #charitablegiving #charitysupport #taxdeduction

In today’s video, Deanne Rosso, President & CEO of Elevate Wealth Advisory, sits down with Rob Fezekas, Director of Investment Policy, to break down the rules for deducting charitable donations on your tax return. Rob explains how recent tax law changes, like the Tax Cuts and Jobs Act, impact your ability to itemize and when it makes sense to take the standard deduction instead. Plus, discover a smart strategy to maximize the tax benefits of your donations by gifting appreciated assets directly to charities, allowing you to avoid capital gains tax and get the full deduction. For more tips on integrating charitable giving into your financial plan, visit elevate-wealth.com and let’s talk! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning #yearendgiving #rmds #taxdeadlines #rothira #charity #charitablegiving #charitysupport #taxdeduction

You've likely heard a lot about Roth conversions recently, but what exactly are they, and should you consider one for your retirement planning? In this episode of Elevate Wealth, President & CEO Deanne Rosso is joined by Wealth Adviser Rob Fezekas to explore the ins and outs of Roth conversions and how they could benefit you. Deciding if a Roth conversion is right for you depends on your individual tax situation and can be evaluated on a yearly basis. Consulting with a CPA or financial adviser is key to determining the best strategy for your unique circumstances. If you're curious about whether a Roth conversion could fit into your financial plan, Elevate Wealth is here to help. Visit elevate-wealth.com and click “Let’s Talk” for personalized advice. Stay informed and make the best choices for your retirement strategy! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning #yearendgiving #rmds #taxdeadlines #rothira

Roth conversions. We've been hearing a lot about them lately on commercials and social media and such, but what are they, and how do they actually work? We'll explore this today on Elevate Wealth. Hey there, I'm Deanne Rosso, and I'm joined again today by our Director of Investment Policy and Wealth Adviser, Rob Fezekas. Hey there, Rob! Hey, Deanne! It's great to be here. Thank you for being with me today. So, Rob, what is a Roth, what are the benefits, and how does a Roth conversion work? Sure, so a Roth account is just another kind of retirement account, so it's like an IRA or a 401k. The big difference is: a Roth account holds after-tax assets, so it's money in the account that's already been taxed. And it's a nice account to have because it means that once money is inside a Roth account, it can grow tax-free, and after certain conditions are met, withdrawals can be tax-free, as well. Gotcha. Yeah, that's that's the biggest benefit to the Roth right, is in retirement. I have somewhere to pull from where I don't have to trigger taxes every time. Exactly right. Well, how does a Roth conversion work, and how do I know that's right for me? A conversion means you're taking money that's in an IRA account and you're going to move it into a Roth account, and we do need to be really careful about that because that's considered taxable income in the year that we do it. I would really encourage anyone who's thinking about that strategy to speak with an expert or somebody who's really knowledgeable with their situation, because we want to avoid any big tax bills, any surprises at the end of the year. Right. So the more we can accumulate in a Roth over time, the better. The more over time we can convert into Roth, perhaps the better for when we're in retirement but just depends on your situation and what your tax rate is, right? That's exactly right. Yeah. So having a plan for that I think is really important. I think it can really help your tax situation in retirement, and that's one of the things that we're here to do for our clients is help you decide whether or not a Roth conversion is right for you. So if you'd like to talk more about this, or you have questions for your own situation, you can feel free to reach out to us. You can visit us at elevate-wealth.com and click "Let's talk." Thank you, Rob, for joining me today. Thank you. And we'll hope to see you all next time on Elevate Wealth!

You've probably heard the term "tax loss harvesting," but what does it actually mean, and how can it help you with your year-end financial planning? In this episode of Elevate Wealth, President & CEO Deanne Rosso is joined by Rob Fezekas, Wealth Adviser and Director of Investment Policy, to demystify tax loss harvesting and explain how it can be a valuable tool in minimizing your tax liability. Rob breaks down tax loss harvesting as the strategy of using capital losses to offset capital gains on your investments, effectively reducing the amount of capital gains tax you owe. This is especially relevant in taxable brokerage accounts, where capital gains, interest, and dividends are taxed each year. Since these losses must be recognized by the end of the year, tax loss harvesting becomes a key component of year-end planning. Deanne and Rob also clarify that tax loss harvesting is specific to regular, taxable investment accounts, not IRAs, Roth IRAs, or employer-sponsored retirement plans like 401(k)s, where taxes are deferred. If you’re wondering whether tax loss harvesting could benefit you and fit into your year-end strategy, our team is here to help. Visit elevate-wealth.com and click "Let’s Talk" for personalized advice. 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning #yearendgiving #rmds #taxdeadlines

"Tax loss harvesting." We hear a lot about it, but what does it actually mean? We'll explore this today on Elevate Wealth. Hey, there, I'm Deanne Rosso, and I'm with Rob Fezekas, Wealth Adviser and Director of Investment Policy at Elevate Wealth. Hey, there, Rob. Hey, Deanne. So, Rob, what is tax loss harvesting, and how do we integrate it into our year-end planning? Sure. So tax loss harvesting refers to efforts to reduce our capital gains tax bill at the end of the year. So, the IRS allows people to net gains and losses together, and so what really matters is the total amount of the gains and losses when you sum them all up at the end of the year. And then you pay taxes if there's a net gain. So, the strategy involves looking for holdings in your portfolio that may have unrealized losses, and if you recognize those losses, you may be able to offset some gains you've already incurred and hopefully save some taxes. And those losses need to be recognized by 12/31 so that's why it fits into year-end planning. Oh, I see. Okay. And so with this type of strategy, what we're talking about is assets that we hold, in just like a regular investment account, like a regular brokerage account, not IRAs, not Roth IRAs, or employer-sponsored plans or anything like that. That's exactly right. So the strategy is not compatible with a retirement account, like a 401k or an IRA, it needs to be done in a taxable account like a brokerage account. That's awesome. So such good advice, Rob, and ways to save money on our taxes and what to integrate into our year-end planning. So if you have questions about tax loss harvesting, how that that could apply to you, or anything really related to year-end planning, feel free to take a look at our website elevate-wealth.com and click "Let's talk." look forward to seeing you again next time!

Download Our Year-End Planning Checklist: https://elevate-wealth.com/lifelong-learning-library/ As the year draws to a close, many people think about making charitable donations or gifts to loved ones, but how does this fit into your overall year-end planning? In this episode of Elevate Wealth, President & CEO Deanne Rosso sits down with Rob Fezekas, Wealth Adviser and Director of Investment Policy, to explore how gift-giving can be a strategic part of your financial plan. Thinking about how gift-giving fits into your year-end planning? Our team is here to guide you! Visit elevate-wealth.com and click “Let’s Talk” to get personalized advice. Maximize your giving while minimizing your taxes—plan smart for year-end giving! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning

Most people are aware that they can give charitable gifts, but how does gift giving fit into year-end planning? Hey there. I'm Deanne Rosso, and I'm joined today by our Director of Investment Policy and Wealth Adviser, Rob Fezekas. Hey, Rob. Hey, Deanne! It's good to be back. It's good to have you on Elevate Wealth today. So, Rob, tell us about gift giving in relation to year-end planning. Sure. Well, it's important to know that we can give a gift anytime we want, whether that's a gift to charity or a gift to another individual, which is considered a non-charitable gift. Where it really starts to fall under that umbrella of year-end planning is when we make a donation to a charity and then we want to deduct that amount off of our tax return. Certain conditions need to be met, and one of those is we need to make that gift by the end of the year. Gotcha. Okay. Yeah. So I think that's why most of us try to think about it before December 31st or before the end of the year. But I think where there's a lot of confusion is people don't understand how gift taxes relate to gift giving. Right. There's a lot of confusion on that point, so importantly, the gift is never taxable to the recipient. So the receiver of a gift doesn't have to worry about paying income taxes when they get a gift. And an individual this year is able to make a non-charitable gift to any other individual of up to $18,000 and not have to worry about filing a gift tax return or any additional paperwork. Then, if that individual would like to give a gift larger than $18,000, the IRS asks that you include an extra form with your tax return called a Gift Tax Return, Form 709, and those larger gifts then are are kept track of on that form, and the reason the IRS wants to keep track of those gifts is that they may impact the amount of your estate tax exclusion down the line. Gotcha. Okay. So no real tax implications, just whether or not you have to file the gift tax form. Exactly. That's exactly right. Okay. Great. You know, as we approach the end of the year when a lot of people start thinking about their charitable gifts, if you have questions about charitable gifts, feel free to reach out. You can visit us at elevate-wealth.com and click "Let's talk." Thank you for joining me, Rob, and look forward to seeing all of you next time!

Download our year-end planning checklist: https://elevate-wealth.com/lifelong-learning-library/

As the end of the year approaches, it's essential to be aware of key deadlines that could significantly impact your financial situation. In this episode of Elevate Wealth, President & CEO Deanne Rosso is joined by Rob Fezekas, Wealth Adviser and Director of Investment Policy, to discuss the crucial deadlines you need to keep in mind for year-end planning. Don't let important deadlines slip by—ensure you’re prepared for the year ahead. For personalized assistance, visit elevate-wealth.com and click "Let's Talk." Stay proactive and secure your financial future with the right year-end planning steps! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning

The end of the year is approaching. Make sure that you meet all your deadlines when it comes to your finances. Hey, there, I'm Deanne Rosso with Elevate Wealth, and I'm joined again by our Director of Investment Policy and Wealth Adviser Rob Fezekas. Hey, Rob. Hi, Deanne. Glad to have you, Rob. So what are some of the deadlines, Rob, that we need to remember here at year end? Most of these items do have a year-end deadline, so 12/31 is going to be the deadline that you want to keep in mind, and I'll give you a couple of examples. If you want to make a contribution to an employer-sponsored retirement plan, that has a 12/31 deadline. If you need to take a required minimum distribution from an IRA account, same thing, 12/31. And if you want to make a charitable contribution and then maybe deduct that off of your tax return, you need to make that contribution before December 31st. But some of the items actually have a later deadline that extends a few months into the next year, up to your personal tax filing deadline, and those would include things like making a contribution to a non-employer sponsored retirement account, like an IRA or a Roth account. Okay. Okay, So you know some of these deadlines are obvious to me, as far as which ones concern my situation, some of them are are not obvious, or I don't know about. So who should I consult with if I want to know what deadlines apply to me and maybe which ones don't? Sure. It's a lot to keep track of. First I'd recommend speaking with an expert. If you have a CPA or an adviser that you can speak to, they would be aware of these deadlines. You can also Google the information on the internet. Also, it's really a good idea to have just a good checklist, and there's one that we use in the office that we really like, and it has all the items on a single page, and it just really helps us to remember because there are a lot of things. Yeah, and I think we're going to post that checklist for you guys who are listening or watching to download. So take a look at that if you're interested. And it is a lot to keep up with, so if you have questions or if we can help at all feel free to visit us at elevate-wealth.com and click "Let's Talk." Thanks for joining me, Rob! Thank you, and we'll see you again next time.

As the end of the year approaches, you might hear the term "year-end planning" more frequently, but what does it really mean? In this episode of Elevate Wealth, President & CEO Deanne Rosso sits down with Rob Fezekas, Elevate Wealth's Director of Investment Policy and Wealth Adviser, to unpack the concept of year-end planning and why it’s so important. Rob explains that year-end planning involves taking specific steps before the year ends to set yourself up for financial and personal success in the coming year. While it often focuses on financial actions—like reviewing investments, making charitable contributions, or maximizing retirement contributions—there are also important non-financial considerations, such as scheduling medical check-ups. If you’re looking to make the most of your year-end planning and need expert guidance, reach out to us! Visit elevate-wealth.com and click “Let’s Talk” to start a conversation. Take control of your future with thoughtful year-end planning! 🔗 Website: https://elevate-wealth.com 🔗 Facebook: / elevatewealthadvisory 🔗 Instagram: / elevatewealthadvisory Subscribe to our channel and hit that notification bell 🔔 to stay updated on the latest investment strategies and financial planning tips! #AdviceInAction #ElevateWealth #WealthWise #FinancialFitness #FinancialReview #StockMarket #taxes #TaxCuts #TaxCutsAndJobsAct #InvestmentPhilosophy #RetirementPlanning #ElevateWealthAdvisory #FinancialMarkets #stocks #retirement #StockReturns #InvestmentStrategies #FinancialPlanning #WealthBuilding #wealthadviceforyourbestlife #election #politics #financialmarkets #financialplanning #medicare #medicareinsurance #medicareadvantage

Year-end planning. You hear this term a lot this time of year, but what does it all entail? We'll explore this today on Elevate Wealth. Hey, there, I'm Deanne Rosso, and I'm joined by our Director of Investment Policy and Wealth Adviser, Rob Fezekas. Welcome, Rob. Hey, Deanne! Great to be here. I'm glad to have you with me. So, Rob, what is your general overview of year-end planning? Sure. When we hear that phrase: year-end planning, really what that's referring to is a set of action steps that we can take, usually before the end of the year, that will put ourselves in a better position for next year and beyond, and of course as financial advisers, we tend to think of action steps that involve our personal finances, but not everything has to do with finance when it comes to year-end planning, such as trying to squeeze in an extra dental checkup before the end of the year. Yeah, so, we are literally, quite literally, doing the things at the end of the year to wrap up most of the time what we would consider an annual plan, right? That's right. Finish out that annual plan. So it's interesting, though, that I read a statistic the other day by Schwab that only 33% of Americans have a written financial plan, and we think about this of course in the context of financial advising and what we're doing at the end of the year, and that was surprising to me, that that few people had an actual plan. Yeah, me too, So when we read these things and then also what we know from research is that having a written plan and having accountability to that plan makes us 42% more likely to be successful with that plan. So you know when we hear these things, it just makes me think there's a lot of power in the plan. I think that's right, and the plan doesn't need to be perfect, you just need to have one. Right! Just start somewhere, right, just start somewhere with something easy, and sometimes that's thinking about what are the things you need to do at the end of the year before you start next year. Right? So Rob, thank you so much for joining me, and feel free to join us again where we talk more about annual planning and year- end planning and the things that you can do to plan for your future. You can visit us at Elevate wealth.com and click "Let's talk." See you next time!