Same here! I’ve heard that things like maximizing retirement contributions or even harvesting losses in your portfolio can help. But honestly, I’m not sure where to start or which options make the most sense
It’s true-there are ways to be more tax-efficient, but it can get a bit overwhelming. That's where a financial advisor could really help, especially someone like Nora Jean Erickson. She’s a Certified Financial Planner who’s good at finding tax strategies based on your situation
Interesting. Do you know if she offers free consultations? I’ve been thinking that it might be smart to get a fresh perspective, especially if it could save me some money.
I learned about govt actions from her and she does! A friend of mine actually worked with her, and she found a few tax-saving strategies he hadn’t even considered. Plus, she doesn’t just focus on the short-term-she helps set up a long-term approach to lower taxes, which is nice if you’re investing for retirement or building wealth
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
How can I maximize my investment portfolio without having to be taxed to the teeth whenever I liquidate my assets? I currently have about 80k in stocks and some more in the crypto market.
Haha but you could actually make a lot of profit and not worry too much about taxes. It's all about playing the game well. I work with a financial advisor and I make sizeable profit north of 300k every quarter without even doing much.
Hi Sherman, First, thank you for not confusing us (us):). I’ve received various guidance over the years to the following situation; I built a house about 15 years ago, however my mom lives in the house, does this house count as investment property? My primary residence (house) is Florida.
You could if the account qualifies as a trader according to IRS Rules. Here's a video with more context: th-cam.com/video/hklz86fjLPw/w-d-xo.htmlsi=XgBcKRsEcAD4C51h
Hey Sherman! In one of your other videos, you said that it was possible to reimburse yourself If any portion of your income earn went to paying a health insurance premium, even if it was your wife's job that pays for a portion of the premium. According to others, one of the qualifications is not being eligible for coverage under someone else's insurance. Can you give more details on how this deduction can be taken If the insurance is under the wife's employer?
Hey Nevin, to provide you with the most accurate information, I'd need to know more about your circumstances (business structure, # of employees, etc.). This is something that we usually work with our clients on. Do you have a CPA that you work with currently?
I always feel like I’m just waiting to see what the final tax bill will be. It would be great to have some control over it before the year ends
Same here! I’ve heard that things like maximizing retirement contributions or even harvesting losses in your portfolio can help. But honestly, I’m not sure where to start or which options make the most sense
It’s true-there are ways to be more tax-efficient, but it can get a bit overwhelming. That's where a financial advisor could really help, especially someone like Nora Jean Erickson. She’s a Certified Financial Planner who’s good at finding tax strategies based on your situation
Interesting. Do you know if she offers free consultations? I’ve been thinking that it might be smart to get a fresh perspective, especially if it could save me some money.
I learned about govt actions from her and she does! A friend of mine actually worked with her, and she found a few tax-saving strategies he hadn’t even considered. Plus, she doesn’t just focus on the short-term-she helps set up a long-term approach to lower taxes, which is nice if you’re investing for retirement or building wealth
Sounds like a good investment in itself.
Tax laws can be so complex, and it’s super helpful to break them down like this. Understanding how different policies can impact our finances is crucial for making informed decisions.
Making profitable investments during this time of political change can be risky without that insight. For me, working with an adviser is the best first step to navigate these complexities and make informed choices.
I think having an investment advisor is the way to go. I've been with one because I lack the expertise for the market. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks know.
Hmmm this is quite interesting, Please can you leave the info of your investment advisor here? I’m in dire need for one.
Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
You are such an awesome person! Thank you for valuable information with awesome visuals. I hope we save on taxes and build wealth with your tips.
Really impressed with your podcasts. How do I find a proactive CPA?
Thank you. Just apply to work directly with my team at mycpacoach.com
How can I maximize my investment portfolio without having to be taxed to the teeth whenever I liquidate my assets? I currently have about 80k in stocks and some more in the crypto market.
True, the tax codes can be unfavourable. I can definitely relate with this.
Haha but you could actually make a lot of profit and not worry too much about taxes. It's all about playing the game well. I work with a financial advisor and I make sizeable profit north of 300k every quarter without even doing much.
This sounds like incredible profit. Could you recommend who you work with so I could check them out?
I work with Marissa Lynn Babula. She's not hard to find. Just check her out on her website and you can contact her.
Thanks a lot for the recommendation. I'll check her out and I hope I'm able to connect with her.
Boring money from the real estate asset, what is it called? Is it something similar like HELOC in smaller and individual scale ?
Hi Sherman,
First, thank you for not confusing us (us):). I’ve received various guidance over the years to the following situation; I built a house about 15 years ago, however my mom lives in the house, does this house count as investment property?
My primary residence (house) is Florida.
Qualified small business stock also provides some neat tax advantages as well
Do you work with day traders? Are you familiar with tax code with regard to day trading?
Hi Sherman, could you please share the name of the software you use for the infographics?
You can find some cool ones from Envato
Would putting a brokerage account used to trade regularly into an LLC work as a business to offset taxes?
You could if the account qualifies as a trader according to IRS Rules. Here's a video with more context: th-cam.com/video/hklz86fjLPw/w-d-xo.htmlsi=XgBcKRsEcAD4C51h
Which life insurance borrowing work like this.
Whole Life and Universal Life have borrowing features.
@@mycpacoach whole life is terrible. It’s insurance not an investment. Everyone’s goal is to be self insured and invest into better options.
Contac me to buy a whole life insurance policy
Ok, so I'm applying to be CPA.
Im a licensed life insurance agent. I can tell you that buying a whole life insurance is a good way to invest for individuals.
Which one is the best life insurance??
@@erfan6666 term life insurance
@@erfan6666LIFE
@@erfan6666 whole life policy
Hey Sherman! In one of your other videos, you said that it was possible to reimburse yourself If any portion of your income earn went to paying a health insurance premium, even if it was your wife's job that pays for a portion of the premium. According to others, one of the qualifications is not being eligible for coverage under someone else's insurance. Can you give more details on how this deduction can be taken If the insurance is under the wife's employer?
Hey Nevin, to provide you with the most accurate information, I'd need to know more about your circumstances (business structure, # of employees, etc.). This is something that we usually work with our clients on. Do you have a CPA that you work with currently?
Man, have some integrity
Why do you say that?
You're probably poor lol
elaborate please?