Don't Fall For These 5 Tax Traps!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 21 February 2025

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Taxes are an unavoidable part of life. The good news? You have more control over your tax situation than you might think. In this guide, we'll explore five common tax traps that could be costing you thousands of dollars each year. By understanding and avoiding these pitfalls, you can keep more money in your pocket, make the tax code work FOR you instead of against you, and stretch your dollars that much further. Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Ready to launch your business? Get started with the commerce platform made for entrepreneurs. Shopify
0:05.0	is specially designed to help you start, run and grow your business with easy customizable themes
0:10.8	that let you build your brand, marketing tools that get your products out there. Integrated shipping
0:15.5	solutions that actually save you time, from startups to scaleups, online in-person and on the go. Shopify is made for
0:22.8	entrepreneurs like you. Sign up for your $1 a month trial at Shopify.com slash setup.
0:29.8	Here's the truth about AI. AI is only as powerful as the platform it's built into. Service Now puts
0:36.6	AI to work for people across your business,
0:39.6	removing friction and frustration for your employees,
0:42.8	supercharging productivity for your developers,
0:45.7	providing intelligent tools for your service agents to make customers happier.
0:49.7	All built into a single platform you can use right now.
0:53.3	That's why the world works with ServiceNow.
0:56.5	Visit ServiceNow.com slash UK slash AI for people. Today, five tax traps, we want to help you
1:03.3	avoid.
1:09.9	Brent, I am so excited to talk about this because it is no surprise.
1:14.1	Our tax code in this country is somewhat complicated.
1:17.7	It's difficult.
1:18.5	And we recognize that there are traps that you can very well fall into.
1:23.1	And we want to help describe them to you so that you can avoid these tax traps.
1:26.5	Yeah, I feel like we hit this full spectrum because we're going to give you the ones that you so that you can avoid these tax traps. I feel like we hit this full
1:27.9	spectrum because we're going to give you the ones that you've heard a few of these before, but then I
1:32.1	think we've got to have an angle for our entrepreneurs and others that you probably have not heard
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.