When Do Trump Tax Cuts Expire? What to Know for Your Retirement Planning

Wondering about the Tax Cuts and Jobs Act expiration, and its implications on your retirement? Troy Sharpe CFP® explains the significant changes in tax rates and brackets that will occur, leading to potentially higher taxes for many individuals. Troy provides detailed comparisons and scenarios to illustrate the impact of these changes and emphasizes the importance of proactive tax planning. Learn how strategies like Roth conversions can help you minimize future tax liabilities and take control of your financial future. Don't miss this essential guide to understanding and preparing for the post-Trump tax landscape.

00:00 Understanding the Trump Tax Cuts Expiration and The Impact of Inaction
00:35 Comparing Current and Future Tax Brackets
02:28 Why Tax Planning Matters: Mitigating Future Tax Risk
04:14 Scenario Analysis: Impact of Roth Conversions
08:19 Long-Term Tax Implications of Inaction
11:38 Considering Different Income Levels and Impacts
15:34 Making Proactive Tax Decisions for Retirement

#taxcuts #retirementplanning #rothconversion

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Disclaimer:
Hypothetical outcomes do not reflect actual results and are not guarantees of future results. Any index references herein are unmanaged and cannot be directly invested into. Past performance is no indication of future results. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any investing or tax savings strategy will be successful. Advisory services are provided through Oak Harvest Investment Services, LLC, a registered investment adviser. Insurance services are provided through Oak Harvest Insurance Services, LLC, a licensed insurance agency.