The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with.
Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.
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The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with.
Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.
Episode 202: OBBBA and You, Part 2: The Deductions That Could Change Your Tax Bill
Retire With Style
40 minutes
4 weeks ago
Episode 202: OBBBA and You, Part 2: The Deductions That Could Change Your Tax Bill
The conversation explores key tax topics, including below-the-line deductions, charitable contributions, mortgage insurance deductions, gambling taxes, and the taxation of Social Security benefits. It also discusses potential changes to Affordable Care Act subsidies and highlights the importance of proactive tax planning to navigate these complexities.
Takeaways
The state and local tax deduction has seen significant changes.
Charitable contributions now have a new floor for deductions.
Mortgage insurance premiums are deductible under certain conditions.
Gambling winnings are taxed differently than before.
Social Security benefits remain taxable under existing rules.
The Affordable Care Act subsidies may change significantly in 2026.
Tax planning is crucial to avoid unexpected liabilities.
Itemized deductions can be complex and require careful calculation.
Understanding AGI is essential for tax deductions.
Changes in tax laws can impact charitable giving behavior.
Chapters
00:00 State and Local Tax Deductions: Changes and Challenges
03:59 Roth Conversions and Tax Brackets
05:45 Below-the-Line Deductions and Itemization
06:42 Charitable Donations and Tax Changes
12:21 Mortgage Insurance Premiums and Deductions
15:20 Gambling Losses and Tax Implications
25:40 Social Security Benefits and Taxation
30:59 Affordable Care Act Subsidies and Changes
Links
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This episode is sponsored by Retirement Researcher https://retirementresearcher.com/. Download their free eBook, 8 Tips to Becoming A Retirement Income Investor at retirementresearcher.com/8tips
Retire With Style
The purpose of Retire With Style is to help you discover the retirement income plan that is right for you. The first step is to discover your retirement income personality. Your hosts Wade Pfau, PhD, CFA, RICP and Alex Murguia, PhD walk you through creating and implementing a retirement plan that will help you reach your goals, and that you’ll be able to stick with.
Start by going to risaprofile.com/style and sign up to take the industry’s first financial personality tool for retirement planning.
