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Thrivent Social Media Privacy Policy, Guidelines, Disclosures & Disclaimers

TAX SAVINGS TIPS! OBBBA Restores and Creates New 100 Percent Deductions for You Now. If you plan to buy equipment, furniture, computers, or other personal property for your business, the recently enacted One Big Beautiful Bill Act (OBBBA) delivers great news. You can now deduct the full cost of such property in a single year—without limit. For manufacturers, the OBBBA goes even further by creating a new 100 percent deduction for factories and other production-related real estate. disclosures:thrivent.com/social Thrivent and its financial advisors and professionals do not provide legal, accounting, or tax advice. Consult your attorney or tax professional.

Learn more about Thrivent's social media privacy policy and guidelines.

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Thrivent Social Media Privacy Policy, Guidelines, Disclosures & Disclaimers

Do you have a personal vehicle? Thanks to the One Big Beautiful Bill Act (OBBBA), you may be eligible for a valuable “no new cash outlay” tax deduction beginning in 2025. Here’s how it works: If you convert a personal-use vehicle to business use, the law treats it as placed in service on the conversion date. Thanks to OBBBA’s reinstatement of 100 percent bonus depreciation, you may deduct up to 100 percent of the vehicle’s fair market value—as long as you don’t opt out of bonus depreciation. For example, if your converted vehicle is worth $31,000 and you use it 70 percent for business, you could deduct $21,700 on your 2025 return. Heavy SUVs, pickups, and vans with a gross vehicle weight rating (GVWR) over 6,000 pounds qualify for full bonus depreciation. Smaller vehicles are subject to “luxury auto” limits—but even those can allow up to $20,200 in first-year deductions. A few rules to know: • You must use the lower of your vehicle’s fair market value or adjusted basis at the time of conversion to business use. • Section 179 expensing is not allowed for converted assets, but bonus depreciation is automatically applied unless you actively opt out. • All assets in the same depreciation class are treated the same for bonus depreciation—you’re in or out for the entire group. If you later sell the vehicle, your basis for calculating gains or losses changes depending on whether it’s a gain or loss. This is a powerful way to deduct the cost of an existing asset without spending new money. If you want to discuss the conversion of a personal vehicle to business use, please call me on my direct line at 360-777-6911. disclosures:thrivent.com/social Thrivent and its financial advisors and professionals do not provide legal, accounting, or tax advice. Consult your attorney or tax professional.

Learn more about Thrivent's social media privacy policy and guidelines.

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Plan your finances for the people, causes and community you love | Thrivent

Have you ever heard of the Mega backdoor Roth! If you are a business owner with no employees and prefer Roth-style retirement savings, you may want to consider the mega backdoor Roth strategy. This powerful tool allows you to contribute significantly more to a Roth account than the standard Roth IRA or even the regular backdoor Roth route—up to $70,000, or $77,500 if you’re age 50 or older. Compare that to the regular backdoor Roth limit of $7,000 ($8,000 with the age 50-plus catch-up), and you’ll see why the “mega” title fits. If you are self-employed, own a corporation, or are a partner in a partnership with no full-time employees, the mega backdoor Roth could be a high-impact retirement strategy. If you want to discuss the mega backdoor Roth strategy, please call me on my direct line at 360-777-6911. disclosures:thrivent.com/social

Plan your finances for the people, causes and community you love.

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Wondering if you should add a fixed annuity to your retirement strategy? Consider these possibilities: 👉 You don’t pay taxes on your earnings until you withdraw your money, which helps your money accumulate even faster. 👉 It could supplement other sources of guaranteed income, like Social Security or a pension 👉 It could provide a stable and predictable income source to cover your essential expenses in retirement. To learn more about fixed annuities: https://bit.ly/4kBW6tN

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Wondering if you should add a fixed annuity to your retirement strategy? Consider these possibilities: 👉 You don’t pay taxes on your earnings until you withdraw your money, which helps your money accumulate even faster. 👉 It could supplement other sources of guaranteed income, like Social Security or a pension 👉 It could provide a stable and predictable income source to cover your essential expenses in retirement. To learn more about fixed annuities: https://bit.ly/4kBW6tN

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June 2025 Market Update: Confidence rebounds

The mixed economic data of May highlighted our economy is still slowing. Read Thrivent Asset Management's thoughts on how our outlook has changed in the June market update.

Markets showed signs of optimism in May following pauses in planned tariffs.

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There are different types of annuities, and it’s important to understand which one is right for your financial situation. For more information about annuities 👉 https://bit.ly/4jpD7Ss

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There are different types of annuities, and it’s important to understand which one is right for your financial situation. For more information about annuities 👉 https://bit.ly/4jpD7Ss

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We’re expanding our financial advisor teams across the country to meet growing demand for values-based financial guidance. We’re actively looking for people who want to make a meaningful impact through their work. Here’s what you can expect: ✅ Competitive training and pay ✅ Team-based culture ✅ Nationwide roles with flexible options Learn more about our exciting push for growth in this Wealth Management article: https://bit.ly/4muewP0 Discover more about the Thrivent financial advisor career: thriventcareers.com/43DUGcF

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We’re expanding our financial advisor teams across the country to meet growing demand for values-based financial guidance. We’re actively looking for people who want to make a meaningful impact through their work. Here’s what you can expect: ✅ Competitive training and pay ✅ Team-based culture ✅ Nationwide roles with flexible options Learn more about our exciting push for growth in this Wealth Management article: https://bit.ly/4muewP0 Discover more about the Thrivent financial advisor career: thriventcareers.com/43DUGcF

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Plan your finances for the people, causes and community you love | Thrivent

Inherited IRAs: Critical IRS Updates for 2025 If you have inherited (or may someday inherit) an individual retirement account (IRA), the 2025 changes may significantly impact your tax planning. Key Updates • RMD requirements. Starting in 2025, annual required minimum distributions (RMDs) are mandatory for most inherited IRAs. Failure to comply may result in penalties of up to 25 percent, reducible to 10 percent if corrected promptly. • 10-year rule enforcement. Non-spousal beneficiaries must fully deplete inherited IRAs within 10 years of the original owner’s death, with annual RMDs generally required. Spouses and Special Cases • Surviving spouses can assume ownership of the IRA or withdraw from it as a beneficiary. Roth IRAs offer additional flexibility, allowing for tax-free growth without RMDs. • Minor children have until age 31 to deplete the account, with the 10-year rule beginning at age 21. • Disabled beneficiaries may be exempt from the 10-year rule indefinitely. Planning Strategies Strategic withdrawals can help you avoid higher tax brackets. For example, spreading withdrawals evenly over 10 years can minimize tax impact. Timing withdrawals based on expected tax rate changes can also optimize savings. If you want to discuss inherited IRAs, please call me on my direct line at 360-777-6911. Disclosures:thrivent.com/social

Plan your finances for the people, causes and community you love.

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May 2025 Market Update: Volatility goes up and down

Mixed economic data in April presents a lot of uncertainty in the economic markets. Read Thrivent Asset Management's analysis on what this means for investors in the May Market Update.

Economic data from April showed the economy slowing and raising the odds for a recession.

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Plan your finances for the people, causes and community you love | Thrivent

Could a Qualified Charitable Distribution(QCD) help you meet your Required Minimum Distribution(RMD) requirement? If you have one or more traditional IRAs and are age 73 or older, you’re probably familiar with three of the most dreaded letters in the tax world: RMD, short for required minimum distribution. Starting the year, you turn 73, the IRS requires you to withdraw a certain amount from your traditional IRAs annually. This amount is based on your age and increases as you get older. RMDs are taxable income, which is precisely why many retirees dread them. But if you’re charitably inclined, there’s a powerful way to meet your RMD requirement without increasing your taxable income: the qualified charitable distribution, or QCD. With a QCD, you direct money from your IRA straight to a qualified charity. That amount counts toward your RMD for the year—but it doesn’t count as taxable income to you. Even better, you can use a QCD whether or not you itemize deductions, so you can still benefit from charitable giving on your tax return. A QCD can help you • satisfy all or part of your RMD for the year; • support the charities you care about; • avoid reporting the RMD as taxable income; and • reduce the risk of being pushed into a higher tax bracket. While RMDs don’t start until age 73, you can make QCDs when you turn 70 1/2. The annual QCD limit is generous: up to $108,000 per person per year. For married couples filing jointly, each spouse can make a QCD of up to $108,000 from their own IRA, for a combined total of $216,000 for 2025. The QCD must go to a Section 501(c)(3) charity—such as a church, school, or other non-profit organization. You cannot make QCDs to donor-advised funds or private foundations. A great choice is to have your IRA trustee transfer the QCD directly from your IRA to the charity. Also, make sure you get a written acknowledgment from the charity for your records. Make the QCD first if you plan to take multiple withdrawals from your IRA during the year. The IRS treats your first withdrawal as your RMD, so taking the QCD first help ensures it counts toward your RMD. And most important, don’t forget to let your tax preparer (us) know you made a QCD. You need to report it correctly on your tax return. If you want to discuss QCDs, please call me on my direct line at 360-777-6911. Thrivent and its financial advisors and professionals do not provide legal, accounting, or tax advice. Consult your attorney or tax professional. Disclosures: thrivent.com/social

Plan your finances for the people, causes and community you love.

Licensing is available through your State Insurance Department’s website, which can be located through the National Association of Insurance Commissioners website.

Thrivent and its financial advisors and professionals do not provide legal, accounting or tax advice. Consult your attorney or tax professional.

Thrivent financial advisors and professionals have general knowledge of the Social Security tenets. For complete details on your situation, contact the Social Security Administration.

Thrivent provides advice and guidance through its Financial Planning Framework that generally includes a review and analysis of a client’s financial situation. A client may choose to further their planning engagement with Thrivent through its Dedicated Planning Services (an investment advisory service) that results in written recommendations for a fee.

Thrivent is the marketing name for Thrivent Financial for Lutherans. Insurance products issued by Thrivent. Not available in all states. Securities and investment advisory services offered through Thrivent Investment Management Inc., a registered investment adviser, member FINRA and SIPC, and a subsidiary of Thrivent. Licensed agent/producer of Thrivent. Registered representative of Thrivent Investment Management, Inc. thrivent.com/privacy-and-security/disclosures.

Insurance products, securities and investment advisory services are provided by appropriately appointed and licensed financial advisors and professionals. Only individuals who are financial advisors are credentialed to provide investment advisory services. Visit Thrivent.com or FINRA’s Broker Check for more information about our financial advisors.

Designations

For additional information on professional designations and the requirements to earn them, visit https://www.thrivent.com/designations

Certified Financial Planner Board of Standards Center for Financial Planning, Inc. owns and licenses the certification marks CFP®, CERTIFIED FINANCIAL PLANNER®, and CFP® (with plaque design) in the United States to Certified Financial Planner Board of Standards, Inc., which authorizes individuals who successfully complete the organization's initial and ongoing certification requirements to use the certification marks.

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