2103: [Part 1] FIRE Tax Strategies For Beginners by Sean Mullaney

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

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🗓️ 17 November 2022

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Sean Mullaney of FI Tax Guy shares FIRE tax strategies for beginners. This is part 1 of 2. Episode 2103: [Part 1] FIRE Tax Strategies For Beginners by Sean Mullaney Sean Mullaney is a financial planner and the President of Mullaney Financial & Tax, Inc. Mullaney Financial & Tax, Inc. offers fiduciary, fee-only, hourly, and advice-only financial planning. Sean established Mullaney Financial & Tax, Inc. after a lengthy career in public accounting. He worked in the tax departments of both Deloitte & Touche and PwC, including over 6 years in PwC’s Washington National Tax Services practice. Sean is a Certified Public Accountant licensed in California and Virginia. He is a member of the American Institute of Certified Public Accountants and an associate member of the National Association of Personal Financial Advisors. Sean has degrees in accounting, law, and taxation and a certificate in financial planning. The original post is located here: https://fitaxguy.com/top-four-tax-moves-for-financial-independence-beginners/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 2103.
0:04.6	Fire Tax Strategies for Beginners Part 1 by Sean Mulaney of 5taxguy.com
0:11.4	And I'm your host and personal finance enthusiast, Diana Mariam.
0:15.7	This is the show where I serenade you with the sweet sounds of personal finance knowledge
0:20.8	from some of the best blogs on the planet, with the author's permission of course.
0:25.8	And I have a bit of a longer post.
0:28.0	I'll reach you the first half today and then finish the rest for you tomorrow.
0:32.3	So let's dive into the first half and start optimizing your life.
0:40.8	Fire Tax Strategies for Beginners Part 1 by Sean Mulaney of 5taxguy.com
0:49.3	Are you new to financial independence, fire or fire?
0:53.6	Are you steeped in financial independence but confused about tax optimization?
0:58.6	If so, this is the post for you.
1:01.4	This post works on the 80-20 principle.
1:04.8	Sure, there's a ton of knowledge, expertise and hacks out there.
1:08.6	But oftentimes 80% of the benefit can come from 20% of the knowledge.
1:14.4	But first, a caveat.
1:16.2	None of this is advice for your specific situation.
1:19.7	But rather, this comprises a list of the top four moves I believe those pursuing financial independence should consider.
1:27.6	No blog post.
1:28.8	This one included is a substitute for your own and your advisor's analysis and judgment of your own situation.
1:36.6	Number one, contribute to your workplace retirement plan up to the employer match.
1:43.2	Many, though not all, employer-sponsored 401k's,
	...

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