I'm 65 with $500K in 401k and Own Company Stock: What's the Best Tax Strategy to Save $100K?

Tax Saving Strategies: Should I roll my 401k into an IRA or use the NUA strategy? Is it better to hold or sell my employer stock in retirement? In this video, Casey Weade, CEO and founder of Howard Bailey Financial, explores the best strategies to save on taxes with your 401k, including employer stock. Learn about the benefits and implications of rolling over your 401k to an IRA versus using the net unrealized appreciation (NUA) strategy. Casey also covers the tax advantages of holding versus selling your employer stock in retirement, and how a charitable remainder trust can maximize your tax savings and provide income. Consult with your tax advisor before making any decisions, and contact our team for a personalized financial review.
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Dive straight in:
00:00 Discover NUA's tax benefits in 401k savings.
01:58 Navigate cost basis and tax implications post-401k.
03:45 Impact of holding period on capital gains tax.
05:38 Long-term capital gains and Medicare surtax.
07:33 Save taxes with charitable remainder trust.
09:32 Income and tax benefits of charitable remainder trust.
11:31 Explore charitable remainder trust benefits.
13:15 NUA and trust for tax planning and legacy assets.
#retirementplanning # retirementfunds #taxsavings
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DISCLOSURE:
Investment Advisory Services may be offered through Howard Bailey Securities, LLC, a registered investment adviser. Working with Howard Bailey Securities, LLC, cannot guarantee investment success or that specific financial goals will be achieved. For more information on professional designations, visit finra.org/investors/professional-designations.