The Corporate Transparency Act | Ep #35
Bruce and Jason Hosler discuss the Corporate Transparency Act (CTA) implications for small business owners. The CTA, a new regulation set by the Treasury Department’s lesser-known division, The Financial Crimes Enforcement Network (FinCEN), mandates that most small businesses disclose comprehensive information about their beneficial owners. This mandate includes personal and contact details, requiring a new application process starting January 1st, 2024.
Use the Buckets of Money strategy for retirement income | Ep #34
Bruce Hosler and Jon Gay dive deep into the Buckets of Money strategy for retirement income. Amidst a backdrop of stock market volatility, geopolitical tensions, and inflation, Bruce presents the Buckets of Money strategy as a safeguard against Sequence of Return Risk—a serious risk retirees face when market downturns coincide with the early years of retirement.
What Did You Learn About Money Growing Up? | Ep #33
Bruce discusses the importance of early financial lessons and their lasting impact. Bruce begins client relationships by asking them about their childhood money experiences, highlighting how these early lessons shape our financial behaviors.
Having a Will is Not a Complete Estate Plan | Ep #32
Bruce Hosler and Jon dive into the crucial topic of why having a will is only a partial estate plan – exploring the significance of beneficiary forms and their power in estate planning.
Switching Social Security Benefits | Ep #31
Bruce and Jason Hosler discuss various aspects of Social Security benefits and switching strategies. They start by explaining the concept of switching benefits, which allows individuals to switch to a new benefit when they become entitled, especially if it is higher than their current benefit.
Estate Planning | Ep #30
We delve into the critical topic of estate planning in a clear and straightforward manner. Bruce begins by emphasizing the essential role of a Will, especially for parents with minor children. A Will determines who will care for the kids in unforeseen circumstances, avoiding potential family disputes.
529 Plan Update for 2023 | Ep #29
Bruce and Jon dive into a comprehensive discussion about the intricacies and nuances of 529 plans. These plans, designed to aid in saving for educational expenses, offer a range of benefits that extend beyond traditional college savings.
Stop Contributing to IRAs and 401Ks | Ep #28
Bruce and Jon discuss a counterintuitive approach: discontinuing contributions to traditional IRAs and 401ks. Drawing insights from IRA distribution expert Ed Slott, I challenge established retirement planning conventions. Slott is a recognized authority in IRA planning, is a professional speaker, best-selling author, and well-regarded by The Wall Street Journal and USA Today.
What Happens To My Trust When I Die? | Ep #27
Many of our listeners have established a trust for their assets upon passing. And while nobody wants to think about their mortality, today I explain what happens to that trust when you pass.
Should I Take the Standard Deduction or Itemize? | Ep #26
It’s a question many taxpayers ask themselves each year. Should I itemize my deductions, or should I take the standard? Of course, every situation is different. But today, I break down some factors that can affect this decision.