Today on Your Money, Your Wealth® podcast 344, Joe Anderson, CFP® and Big Al Clopine, CPA outline the House Ways and Means Committee’s sweeping tax proposal that would impact Roth contributions, Roth conversions, RMDs, the backdoor Roth IRA and #MegaBackdoor Roth (Megatron), marginal and capital gains tax rates, wash sale rules, and more. Plus, they answer your questions on safe retirement income and withdrawal strategies, current wash sale rules, when NOT to do a Roth IRA conversion, and solo 401(k) retirement savings for self-employed small business owners. Podcast show notes, free resources, Ask Joe & Al On Air:

00:00 – Intro
00:51 – It Could Be Over for the “Megatron”
13:57 – Schedule a free financial assessment:

15:09 – Tax Avoidance Strategies for New Biden Tax Hikes? (Jim, San Diego) 
17:44 – Wash Sale Rules for Selling Stock (Jason)
19:55 – Roth Conversion Rules When Working or Retired (Wynn) 
21:14 – Where to Put Money for Safe Retirement Income? (Marc, 92024)
25:37 – Does Roth Make Sense With the American Opportunity Tax Credit? (D, Irvine) 
29:25 – Download the Ultimate Guide to Roth IRAs:

30:11 – Self Employed Solo 401(k) Retirement Savings Strategy? (Bruce, Joisey)
35:10 – I’m Very Risk Averse. How Should I Withdraw in Retirement? (Linda, San Diego)
43:07 – Is My Roth Conversion Strategy Correct? (Frieda’s Boss, Ft Myers, FL)  

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IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® – The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® – Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.

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