The Roth 401(k) | Ep #21
You may be familiar with a traditional 401(k) retirement plan, but today Bruce will explain how a Roth 401(k) works, how it’s different, and the benefits associated with it.
Your Annual Gift Tax Exclusion | Ep #18
The Annual Gift Tax exclusion amount is increasing from $16,000 to $17,000 in 2023. Today, Bruce and Jon explain the importance of this, and why these rules can have significant financial ramifications for years to come – not just for you, but for your heirs as well.
Arizona Tax Credits | Ep #17
Show Notes Transcript All Podcast Episodes For our listeners in Arizona, the state offers four great ways to receive tax credits on your state return. This is a tax credit, not a tax deduction, and Bruce starts today’s episode by explaining the significant difference between the two. We then break down each of the four possible credits: Private […]
The 1031 Tax-Free Exchange | Ep #16
A 1031 exchange refers to the section of the internal revenue code section that allows property owners to take the proceeds of a sale of real estate and reinvest those same proceeds into another property without recognizing a capital gain and without having to pay the taxes on the same. Instead, they get to defer the gains and add them to the new property.
Qualified Charitable Distributions or QCDs | Ep #13
For IRA owners that are charitably inclined, a Qualified Charitable Distribution, or QCD, can be an incredibly useful tool.
The Inflation Reduction Act – What Does It Mean For You? | Ep #11
In September, the government passed the “Inflation Reduction Act.” Today Bruce breaks down the key pieces of the legislation and how it can affect you going forward. He breaks it down into 9 key areas:
IRA & 401K accounts are no longer good wealth transfer tools | Ep #10
Bruce dives deeper into why traditional IRAs and 401ks are no longer good wealth transfer tools. Ideally, you want to minimize both your tax burden and the burden of your heirs. And with these new rules, traditional retirement accounts just won’t cut it.
The 5-year Rule With Roth IRAs and Roth 401Ks | Ep #7
Bruce talks about the “5-year rule” regarding Roth IRA and Roth 401K accounts. These rules are in place to encourage investors not to withdraw from their Roth accounts before age 59 1/2. And if these rules aren’t followed, they can result in stiff tax penalties!
Convert Your IRA to a Roth IRA on a Market Dip | Ep #5
Bruce talks about converting your IRA into a Roth IRA, and why a market dip is a good time to do so. They go over requirements for these conversions, such as deadlines and how required minimum distributions, or RMD’s, come into play.
All About Inflation | Ep #3
What is causing this inflation? 1. Demand/Supply imbalance 2. More money chasing less products. (Supply chain) 3. Shortages of availability (Housing) What is Demand Destruction?