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1021223-00006-00
Rogelio Gonzalez, CRPC®, CSRIC™
Financial Advisor, Prudential Advisors
Pacific Northwest Financial Group
7525 SE 24th Street, Suite 110
Mercer Island, WA 98040
Phone: 360-919-4271
May/June 2024
More Income on Fixed-Income Investments
Be aware of the increased income you may be earning on bonds and other fixed-income investments this year. After all, higher returns mean higher income and potentially higher taxes.
Example: If you’re in a 30% marginal tax bracket, and you’ve earned an additional $3,000 of interest income so far this year, that’s an extra $900 of income tax you might not have planned on—and just for the first half of 2024.
Depending on the type of fixed-income investments in your portfolio, your potentially higher returns on them in 2024 could be enough to bump you up a tax bracket. Also, a bracket bump plus higher returns potentially exposes you to estimated tax penalties and possibly alternative minimum tax.* As with any tax planning, be sure to consult a tax professional.
*This is a hypothetical example and is not representative of any investment strategies. Actual results may vary.
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Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries. Offering 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. Prudential and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Prudential, the Prudential logo, and the Rock Symbol are service marks of Prudential Financial Inc., and its related entities, registered in many jurisdictions worldwide. Pacific Northwest Financial Group and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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