'For Rogers Corporation employees, proactive tax planning strategies, like deferring income and accelerating deductions, can significantly enhance retirement readiness, and working with an advisor like Kevin Landis from The Retirement Group, a division of Wealth Enhancement Group, can help you make the most of these opportunities.'

'As the tax landscape evolves, it's crucial for Rogers Corporation employees to carefully weigh year-end moves such as contributing to retirement accounts or adjusting withholding, and an advisor like Brent Wolf from The Retirement Group, a division of Wealth Enhancement Group, can guide you in optimizing your tax strategy for long-term financial success.'

In this article we will discuss:

• 1. Tax strategies for employees and retirees of Rogers Corporation companies, including deferring income and accelerating deductions.

• 2. Charitable contributions and their impact on tax returns for individuals who itemize deductions.

• 3. The importance of required minimum distributions (RMDs) and year-end investment decisions.

• According to a recent study by the Insured Retirement Institute (IRI), a leading financial research firm, 60% of Baby Boomers plan to continue working in some capacity during retirement. This means that for many employees and retirees of Rogers Corporation companies, tax planning strategies will continue to be relevant well beyond retirement age. It is important for this demographic to consider the impact of their retirement income on their tax liabilities, as well as the tax implications of continuing to work in retirement. With that taken into account, Here are some factors for employees and retirees of Rogers Corporation companies to consider as they evaluate potential tax moves between now and the end of the year.

• 1. Defer income to next year

Consider opportunities to defer income until , especially if you believe you will be in a reduced tax bracket in . For instance, you may be able to defer an end-of-year bonus or delay the collection of business debts, rent, and service payments. As an employee of Rogers Corporation, doing so may allow you to defer income tax payment until the following year.

2. Accelerate deductions

Employees and retirees of Rogers Corporation should also seek opportunities to accelerate deductions into the current tax year. If you itemize deductions, paying medical expenses, qualifying interest, and state taxes before the end of the year (instead of paying them in early ) could affect your tax return.

3. Make deductible charitable contributions

Generally, if you are an employee of Rogers Corporation and itemize deductions on your federal income tax return, you can deduct charitable contributions up to 50% (currently increased to 60% for cash contributions to public charities), 30%, or 20% of your adjusted gross income (AGI), depending on the type of property you donate and the type of organization to which you donate. (Exceeding quantities may be carried forward for a maximum of five years.)

4. Bump up withholding to cover a tax shortfall

A Roth IRA conversion decision hinges on your full tax picture, including the employer benefits Rogers Corporation provides. At the core of your retirement package, Rogers Corporation maintains a defined benefit pension plan that has been frozen to new benefit accruals -- meaning the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents, meaning the plan no longer accumulates future benefits for most employees, but those who were already vested may still be entitled to receive the pension benefit they accrued prior to the freeze, subject to the vesting requirements described in their plan documents. Rogers Corporation also offers retiree healthcare benefits to eligible employees, which can provide meaningful coverage for those who retire before reaching Medicare eligibility at age 65. Rogers Corporation's 401(k) plan includes employer matching contributions of 100% on first 1% of salary + 50% on next 5% of salary (3.5% total, RESIP 401k plan), subject to plan terms. Because the specifics of your pension benefit, retiree healthcare eligibility, and any matching contributions depend on your individual employment history and plan documents, We encourage you to review your Summary Plan Description (SPD) or speak with Rogers Corporation's HR or benefits team for the most current details.