Ep 5: Preparing for the 2022 Tax Season – Part 1

Are You Retirement Ready?

Are you prepared for this upcoming tax season? A new tax landscape is taking shape for 2022 so it’s important you prepare now. If you are concerned about owing a lot of money this year, what can you do to reduce that burden?

You may be missing out on some tax credits for your retirement savings. Or perhaps you should take an itemized deduction versus a standard deduction, it’ll depend on your situation. On today’s episode, join us as we start our discussion on some possible ways to prepare your finances for the 2022 tax season.

Helpful Timestamps:

0:22 – Hello and Happy New Year!

2:11 – What’s ahead for 2022?

5:36 – Tax credits for retirement savings

7:52 – Contributing to a tax-deductible IRA

9:37 – Itemized deductions vs. standard deductions

12:18 – Keeping your income down

14:54 – Credits for education

15:57 – Ways to reduce your taxes?

17:15 – Home office tax deductions

18:16 – File and pay on time

19:10 – Filing date until April 18th

20:30 – Question: Is life insurance tax-free?

Website: https://www.nationalretirementgroup.org/podcast

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