038- How To Optimize Your Taxes and Make The System Work For You w/ Shane Mason
Journey To Launch
Jamila Souffrant
5 • 1.7K Ratings
🗓️ 28 March 2018
⏱️ 50 minutes
🧾️ Download transcript
Summary
Shane Mason, CPA/PFS, CPF, is a New York-based accountant, financial planner, and all-around tax wizard that joins the show this week to discuss the one topic that has many Americans baffled: taxes. He specializes in accounting, tax preparation and financial planning services for small and medium business owners, creatives, tech professionals, expatriates and foreign nationals living in the US. Shane and I crossed paths during my search for the assistance of a new tax professional and we are delighted to have his expertise on the show to unravel tax law and what it means for everyone on the journey to Financial Independence.
In this episode, we talk about:
- Why we have to pay taxes
- Why you should consider hiring a tax professional
- How tax refunds work
- Why a large tax refund isn’t necessarily a great thing
- Common mistakes made when filing taxes
- Amending a tax return
- Determining the right investment account for your income
- Factors to consider when determining where to invest first
- The new tax law changes and how they affect you
At the end of the podcast, I also talk about the waitlist to the soft launch of my monthly membership program. Get monthly tips, tools, and classes to help you launch to Financial Freedom. Click here to sign up and be the first to be notified when the doors open in Summer/Fall 2018.
(YNAB, my favorite budgeting app is giving Journeyers a 2-month free trial, no credit card required to try their amazing budgeting system, check it out here!)
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Other related blog posts/links mentioned in this episode:
- 3 Questions To Ask Before Spending Your Tax Refund
- Why You Shouldn't Want A Tax Refund
- IRS Withholding Calculator
- Sign up for Credit Sesame using my affiliate link and get your free credit report and other resources to help you monitor and improve your credit
- How We Saved $169,000 in 2 Years With the Help of This Budgeting System
- Join The Weekly Newsletter List
- Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
- Watch me on News12 Watch my latest segments on News12
- My One on One Money Coaching Services – Get my personalized 1on1 money coaching expertise to help you reach your financial goals
- YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link.
Connect with Shane on:
Connect with me:
- Journey To Launch Instagram
- Journey To Launch Twitter
- Journey To Launch Facebook Page
- Join the private Facebook Group
Transcript
Click on a timestamp to play from that location
| 0:00.0 | You're listening to episode 38 of the Journey to Launch Podcast, how to optimize your taxes and make the system work for you. |
| 0:10.0 | T minus 10 seconds. |
| 0:12.0 | Welcome to the Journey to Launch Podcast with your host Janila Sufrant as a money expert who |
| 0:17.8 | walks her talk. |
| 0:19.3 | She helps brave journeys like you, get out of debt, save, invest, and build real well. |
| 0:25.6 | Join her on the journey to launch to financial freedom in... |
| 0:29.6 | Five, four, three, two, one. |
| 0:35.0 | Hey, journeyers. |
| 0:39.0 | Welcome back to another episode of the Journey to Launch Podcast. We are at episode 38 and this is another more technical interview. |
| 0:51.0 | So the last two episodes, if you're all caught up. One was |
| 0:55.4 | student loans so conquering your student loans, tidbits about that and just details. |
| 1:01.4 | Last week's episode was about credit, credit, how to improve it, how to use |
| 1:07.0 | it, credit utilization, credit cards, again a technical episode. This is going to be another more technical episode because we're talking about taxes. It's tax time so a lot of you guys have either done your taxes already. you were early birds, you already filed and completed everything. |
| 1:27.4 | Maybe you're still in the middle of doing them, maybe you're like me, and it's still not |
| 1:31.9 | submitted. But regardless, it's tax time. So it's really |
| 1:36.8 | important I think to talk about taxes because this is a real, real important factor |
| 1:44.1 | on your financial journey. |
| 1:45.2 | Are you optimized with your taxes? |
| 1:47.6 | Do you understand your taxes? |
| 1:49.5 | Are you doing them yourself? |
| 1:51.0 | Which is fine, especially if you have simple taxes and you understand it, |
| 1:55.0 | or are you working with a professional? |
... |
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