itemized deductions

Listen to The Financial Considerations of Being Your Own Boss: https://creativeplanning.com/education/podcast/the-financial-considerations-of-being-your-own-boss/

The Standard Deduction podcast is hosted by Tax Directors Candace Varner and Ben Hake. This podcast is a thoughtful, informed discussion about ideas, trends and developments in taxes related to personal wealth management.

Our mission is to educate and inspire people to make better financial choices through knowledge, tools and strategies. We believe that education and planning are key components of financial success. Come explore relevant financial topics with our team.

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2020 has been a tumultuous year for most of us, between market volatility, the pandemic, and the US Presidential Election.  For some, it may have resulted in a job loss, an early retirement, or other financial issues.  Today, Ted Buckley from Mooney Lyons joins Jon Gay to talk about the questions you should ask yourself as we (finally) wind down 2020 and look forward to next year.

• What has changed for you in 2020?
• Do you engage in tax-loss harvesting?
• Do you want to itemize deductions?
• Could you ramp up your retirement plan contributions?
• Are you thinking of gifting?
• Can you start a 529 plan?
• If retired, have you taken your RMD’s (and what's different in 2020)?
• Have you checked your withholding?
• How’s your Retirement plan looking?
• What can you do before ringing in the New Year?

Ted walks us through each of these, and how they can help your finances as we look ahead to 2021.

Contact Mooney Lyons:

847.382.2600

info@mooneylyons.com

Each individuals situation is unique. The information provided is for informational purposes and not investment advice. Speak with a financial professional before taking action. Investing in securities involves risk of loss that employees should be prepared to bear. No investment is free of risk; no strategy or risk management technique can guarantee returns or eliminate risk in any market environment.

Securities offered through Triad Advisors, LLC. Member FINRA/SIPC. Advisory Services offered through Triad Hybrid Solutions LLC, a registered investment advisor. Mooney Lyons Financial Advisors and Triad Advisors, LLC are not affiliated.