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Avraham "AY" Rappaport, CLTC
President, Financial Professional
Yaniv "Jay" Natanov
President, Financial Planner
Eli Rappaport
Vice President, Financial Planner
Shlomo Rosenstein
Financial Professional
Ozzie Marizan
Financial Planner
Joseph Greer
Employee Benefits Administrator
Dylan Pinsky
Client Relations Manager
Premier Financial
6395 Dobbin Road, Suite 102
Columbia, MD 21045
Phone: 240-309-6001
Email: dylan.pinsky@prudential.com
Website: premierfinancial1.com
November/December 2023
Three Ways To Lower Your Taxes
Delayed RMD Start Date
The age at which you must start taking required minimum distributions from qualified plans increased from 72 to 73 in 2023. So, if you don’t need the distribution, you can wait the extra year to begin taking RMDs.
"Qualify" Your Contributions
Speaking of qualified plans, make the maximum contribution to lower your taxable income for the year. If you own a business and were considering adding a qualified plan for employees, do so by year-end for possible tax credits and deductions. Your financial professional can help in this area.A "Capital" Idea
The markets were volatile this year. If you sold investments for a loss, deduct them from gains. If your capital losses exceed your capital gains, you can deduct up to $3,000 in realized losses. Remember, you can use losses carried over from previous years and carry over losses exceeding $3,000 to the next tax year. Talk to your tax professional to learn more.1072356-00001-00
Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier Financial is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Dylan Pinsky is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
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