Episode Overview

Podcast: George Kamel (Ramsey Network)
Episode: Do This NOW to Save on Taxes in 2026
Date: December 10, 2025
Host: George Kamel

In this energetic and humor-filled episode, George Kamel breaks down concrete year-end money moves listeners can make to legally minimize their 2025 tax bill before 2026 arrives. Mixing pop culture wit with actionable advice, George walks through eight key tips—ranging from paycheck adjustments to retirement strategies—while demystifying confusing tax jargon and even sharing colorful anecdotes about bacon-flavored toothpicks and robotic mayo dispensers. Whether you’re a W-2 employee, self-employed, or staring down RMDs, the episode arms you with financial tactics (and laughs) to keep more of your money out of the IRS's hands.

Key Discussion Points and Insights

1. Check Your Paycheck Withholding

• [00:05]
  • George’s Guidance: Periodically review your withholding to avoid owing a large sum or overpaying and getting an interest-free “loan” back as a refund.
  • Why It Matters: "If you had a mild panic attack last year because you owed the IRS a small fortune, get with your HR department to adjust your withhold and make sure you do it before the end of the year."
  • Pro Tip: Use the IRS’s online calculator for help.

2. Defer Income (if Self-Employed or Eligible)

• [02:03]
  • George’s Take: Consider billing clients or negotiating bonuses so that income arrives in January, thus pushing the tax hit to the following year—if this doesn’t bump you into a higher bracket later.
  • Caveat: Only smart if you expect to be in the same or a lower tax bracket next year.
  • Memorable Moment: "Bacon. Bacon. Bacon. Cinnamon. Cinnamon and breast milk in a sliding tin. Okay, I gotta. Let's double click on this one."
    (Light riff on bizarre Etsy finds before seamlessly shifting to practical income deferral.)

3. Contribute More to Retirement Accounts

• [03:24]
  • Traditional 401(k)/IRA: Pre-tax contributions lower taxable income now, but you’ll pay tax on withdrawals in retirement.
  • Roth 401(k)/IRA: You pay tax now, and withdrawals (including growth) are tax-free later.
  • George’s Stance: "I will take eternal tax-free growth any day of the week."
  • Advice on Maxing Contributions: Only max out when you’re totally debt-free—including your mortgage. Before that, invest exactly 15% of income.

4. Take Required Minimum Distributions (RMDs) If Age 73+

• [05:55]
  • Who Needs This: Anyone 73+ with non-Roth retirement accounts.
  • Deadlines & Penalties: Missing the Dec 31 deadline costs a 25% penalty (reduced from previous 50%).
  • Humor & Quote: "Much to my chagrin, does not stand for robotic Mayo dispensers. ... Forget the no kings, give me justice for Mayo protests."
    (Extended comedic riff while diving into crucial details.)

5. Use Your Gift Tax Exclusion

• [07:05]
  • Annual Exclusion: $19,000 per recipient (for 2025).
  • Lifetime Exclusion: $13.99 million.
  • Must-Know: Gifts over the annual exclusion pile up against your lifetime exemption; excess requires IRS Form 709.
  • George’s Take: "Not a fan of this tax. ... Exemptions, exclusions, excursions, protrusions, banana fannafo, Fusion fee, fifo, Fusion exclusions."

6. Take Advantage of Tax Deductions and Credits (Especially if Itemizing)

• [08:07]
  • Property Tax Deduction: Prepay next year's property tax by Dec 31 to deduct it sooner, if you itemize.
  • Mortgage Interest Deduction: Make your January mortgage payment early to deduct more interest this year.
  • Charitable Donations: Donate before year-end and keep detailed records for proof.
  • Clean Vehicle and Clean Energy Credits:
    • EV Tax Credit ended Oct 1, 2025 (last chance if purchased before then).
    • Residential Clean Energy/Home Improvement Credits end after Dec 31, 2025.
  • Notable Snark: "So if you buy a cybertruck between now and December 31, the only credit you'll get. Street cred. Just kidding. You won't get that at all."

7. Consider a Roth Conversion

• [12:31]
  • What It Is: Move funds from traditional IRA/401(k) into Roth version, paying taxes now for tax-free future growth.
  • When to Consider: Potentially large long-term benefit, but consult a pro to assess tax impact.
  • Guidance: "This is a big financial move ... so talk to a financial advisor before you get the ball rolling on this."

8. Connect with a Tax Pro

• [13:18]
  • Why: If your taxes are complicated, get pro advice before April for year-end moves.
  • Resource: Ramsey Trusted Tax Pro directory is recommended.
  • Encouragement: "Get an expert in your corner now so you're 100% ready come tax time."

Notable Quotes & Memorable Moments

• On Over-Withholding:
  "You've been loaning the government your money all year long at 0% interest. You don't wanna do that." — George Kamel [00:55]
• On Roth Accounts:
  "I will take eternal tax-free growth any day of the week." — George Kamel [04:06]
• On RMD Definition:
  "Much to my chagrin, does not stand for robotic Mayo dispensers. Which is not a thing. They don't make those. And yet they already have it for ketchup. Justice for Mayo." — George Kamel [05:33]
• On Gift Tax Complexity:
  "Exemptions, exclusions, excursions, protrusions, banana fannafo, Fusion fee, fifo, Fusion exclusions. This is about as needlessly complicated as the peg game at Cracker Barrel, but stay with me here." — George Kamel [07:25]
• On EV Credits Ending:
  "So if you buy a cybertruck between now and December 31, the only credit you'll get. Street cred. Just kidding. You won't get that at all. In fact, you might have negative street cred. Street cred. In the red, if you will. Street cred in the red. Can't fake what I'm dealing." — George Kamel [09:44]

Important Timestamps

| Timestamp | Segment | |-----------|-----------------------------------------------| | 00:05 | Intro & Withholding Check | | 02:03 | Income Deferral for Freelancers/Bonuses | | 03:24 | Retirement Account Contributions Advice | | 05:33 | RMDs Explained (Age 73+) | | 07:05 | Gift Tax Exclusion/Strategy | | 08:07 | Deductions/Credits (Home, Mortgage, Charity) | | 09:44 | Clean Energy/Electric Vehicle Tax Credits | | 12:31 | Roth IRA/401(k) Conversions | | 13:18 | Consult a Professional Tax Advisor |

Episode Tone and Language

Consistently witty, accessible, and packed with snark and pop culture references, George keeps the pacing lively while skillfully breaking down even the most technical tax concepts. His practical examples (and comedic asides, e.g., “robotic Mayo dispensers” and “bacon and breast milk flavored toothpicks”) make the advice both relatable and memorable.

Summary

George Kamel’s "Do This NOW to Save on Taxes in 2026" is a must-listen (or read) for anyone looking to take the dread and confusion out of year-end tax planning. Through eight actionable tips, he delivers clear guidance on minimizing your tax bill—whether you’re a full-time employee, self-employed, approaching RMD age, or strategizing long-term with Roth conversions. The episode stands out for its balance of precise, fact-checked advice and authentic, engaging humor, ensuring listeners not only learn something useful but also enjoy the process.