12 Things You Need To Know About Trump's New Tax Law - 147

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 31 December 2017

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

How Trump’s new tax law, the Tax Cuts and Jobs Act, changes state and local tax deductions, brackets, the child tax credit, medical deductions, property taxes, mortgage deductions, home equity debt, charitable contributions, itemized deductions, alternative minimum tax, residential gain on sale exclusion and small business taxes. Plus, the top things no one tells you about retiring, Social Security claiming strategies, and do Roth TSP and Traditional TSP dollars "commingle?" And the Ghosts of Joe’s Christmas past, or "oh s***, Ruthie stole baby Jesus."

Transcript

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0:00.0	Should I be deferring more in my 401k?
0:02.2	Should I be doing more Roth?
0:03.6	Should I do conversions?
0:04.7	Should I not do conversions?
0:06.2	Am I a small business owner?
0:07.4	How do I set this up?
0:08.5	Does an S-Corp make any sense anymore?
0:10.4	Should I switch to a C corporation?
0:12.1	If I'm a partnership, do I go to an LLC?
0:14.2	So what structure or business do I want to have if I'm a small business owner?
0:17.4	What type of business do you have? Is it a service business? No, that doesn't apply.
0:21.6	It's like what? It doesn't make any sense sometimes. And that's just a short list of questions
0:27.1	that come up as a result of President Donald Trump's new tax law, the Tax Cuts and Jobs Act of 2017.
0:33.1	Today on Your Money, Your Wealth, Joe and Big Al discuss the changes to deductions, tax brackets,
0:38.1	the child tax credit, charitable contributions, alternative minimum tax, small business taxes,
0:43.1	and a whole bunch more. Plus, the top things no one tells you about retiring, Social Security
0:47.6	claiming strategies, and do Roth TSP and traditional TSP dollars commingle? What exactly does
0:53.3	that mean? And what happens if they do?
0:55.2	Now, kicking off the final episode of Your Money, Your Wealth for 2017, with the Ghosts of Joe's Christmas Past, or, oh, shit, Ruthie stole baby Jesus, here are Joe Anderson's CFP and Big Al Clopine's CPA.
1:10.4	This week, once again, we're talking taxes, but I think we might narrow it down to what the
1:17.2	heck is really going on out there.
1:19.9	Yes.
	...

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