Due to high inflation rates, the ever-changing state of the markets, and many driving factors that have altered the economy, we want to help you save on taxes so that your money can stay safe in YOUR pockets.
In this episode, Larry Heller, CFP®, is joined by Matthew Taus, CPA, CFP®, to talk about strategies businesses, and individuals qualify for, and can use to help them save money on their income tax.
Listen as Matt and Larry discuss:
How businesses can benefit from a qualified business income deduction
Not to forget to incorporate recent tax law changes to lower what you owe
Steps you must take before year end to lower your personal income taxes
Retirement Plans you can contribute to in order to reduce your taxable income
After starting his career with KPMG performing audits of large multinational companies Matthew Taus transitioned to financial and tax planning for a diversified group of mid-size business and individuals focusing on advising high wealth clients in the areas of trust, estate and gift tax planning matters.
Matthew is an executive board member of the National Conference of CPA Practitioners and the Estate Planning Council member of the American Institute of Certified Public Accountants Financial Planning Association and New York State Society of CPAs.
He regularly speaks and writes on tax manners for organizations and publications and now he is here to offer his insight on our podcast.
99% of people will become a widow or widower at some point in their life, so financial preparation will be helpful during this emotional time.
In this episode, Larry Heller guides you around ways to make financial planning easier during this major life transition by revealing key steps you’ll want to incorporate into your financial planning should you become widowed. Plus, he explains why financial discussions between spouses are important, especially in the later years of life.
Concepts to include in your financial plan for when you become a widow or widower
How tax situations may shift when one spouse becomes widowed
The potential shift in insurance coverage as a widow or widower
How editing a will after one partner has passed may be required