{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Wealthyist","title":"Wealthyist E80 | Turning The Page: Roth, State & Local Taxes, and the Moves That Matter Before 2026 Ends","html":"","width":"100%","height":180,"duration":1088,"description":"This episode of Wealthyist features Kent Halleen, wealth manager at Annex Private Client, with Jenny Jesse, manager of the financial planning team and principal author of Annex’s year-end guide, Turning the Page on 2026. Jessee has been at Annex Wealth Management about five years, starting as a college intern and moving through specialist and senior planner roles. Her focus is creative strategy for clients now that the Tax Cuts and Jobs Act provisions are no longer facing a sunset, thanks to the One Big Beautiful Bill.\nWith rates locked in for the planning horizon, Roth conversions are a frequent recommendation, especially in the 12%, 22%, and 24% brackets. The higher State And Local Tax (SALT) cap is another lever: state and local taxes can include state income tax, property tax on a primary or vacation home, and, in no-income-tax states, sales tax.\nThe changes are federal, though some states (Arizona is cited) have adopted pieces such as relief on tips, overtime, or an enhanced senior deduction. Itemizing remains less common than in prior decades unless SALT, medical costs, or large charitable gifts push a return over the standard deduction.\nNew 2026 rules get close attention. Catch-up 401(k) contributions for those 50 and older must go to Roth if prior-year W-2 wages exceeded $150,000—a revenue offset for other tax cuts. Trump accounts (set up only through the official app or IRS Form 4547, not unsolicited emails) function as a child retirement vehicle; children born 2025–2028 can receive a $1,000 government seed, and balances can later be converted to Roth once the child has earned income. Leftover 529 funds can also move to Roth, subject to a roughly $35,000 lifetime cap and annual earned-income limits, not as a single bulk rollover.\nOn estates, the federal exemption is $15 million per person ($30 million joint), which removes many families from estate-tax concern, though lifetime gifts and “living legacy” transfers still matter for larger estates or when...","thumbnail_url":"https://img.transistorcdn.com/qGrVF3x5hFIhTcfRmZqwI5cWDYeStA3lwZ1z54k8q18/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS83MWRm/YWQ1NmRjOWIwNmNm/MjExZmE3MjViNTU0/Njk5NC5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}