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Money Guy Show

February 27, 2006 Podcast from the Money Guy, J. Brian Preston, CPA, CFP®, PFS and Special Guest Co-host, Brandon Verner, CPA.

Money Guy Show

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

Education, Investing, Business

4.73.1K Ratings

🗓️ 27 February 2006

⏱️ 31 minutes

🧾️ Download transcript

Summary

Common Deductions That Too Many People Miss 1. Non-cash Contribution 2. New Points on Refinancing 3. Old Points on Refinancing 4. Health Insurance Premiums 5. Educator Expenses 6. Miscellaneous Expenses For more details, go to http://www.moneyguy.com/2006/02/february-27-2006-podcast-tax-planning  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome, welcome back again, everyone. This is thank you so much for joining us today. I got to tell you you're in for a treat today. We've got a very special show. You probably noticed we changed topics on your mid stride because I found out I had the opportunity to really have

0:30.0

one of my close friends as well as one of the great advisors and tax planning here today. I'm going to introduce in just a second a gentleman by name of Brandon Werner and I'll give you some background on him, but I want to thank you for joining us here at themoneygod.com. It's money-god.com. It's m-o-n-e-y-g-u-y.com. We've grown even more. Thank you so much for everybody who subscribed. We'd ask you to please tell your friends, family and anybody else you know. Please join and subscribe.

1:00.0

Our listeners so that we can continue to do this and bring you great, great programming. I also want to tell you that we've got two topics that we're going to talk about some tips from Susie Ramon as well as Ben Stein about some of the things you're hearing about in the day-to-day news, but just because I know it's killing to stay quiet. Let me go ahead and bring in my friend. I've got Brandon Werner, CPA. I've known Brandon for years and I got to tell you what impresses me about Brandon and this is what you got to be careful of with any advice you have.

1:29.0

What you buy an advisor that you hire out there is that really when you're looking to hire, whether it's an accountant and an attorney, a financial advisor, you've got to really make sure that you go out there and find people who really practice what they preach.

1:42.0

There's a lot of people out there who will tell you their advice, but then they'll go and do the exact opposite thing. It's kind of like finding a doctor that smokes.

1:49.0

I've known Brandon long enough and I've seen enough of his finances to know that he really is doing everything he tells his clients.

1:55.0

He's got his insurance in order. He's saving that 15 to 20% that I always tell all my clients to save. So he really is the real McCoy and doing what he should do.

2:04.0

So with that, I'm going to let Brandon come on in a second after we go through the two articles because you'll know how we are set up here at MoneyGod.com is that we go through the articles and then we go right into the meat of the financial chaos topic,

2:16.0

which is going to be tax planning today. And then I'm going to let Brandon kind of take over that section, I'll throw in my two cents here and there.

2:23.0

Brandon, welcome to the show. Brian, thanks so much for having me. Thanks for those kind words. I don't think I could have introduced myself better.

2:30.0

Well, I'm hoping that I keep a straight face here because I know what you don't know listening to this podcast through the internet is that Brandon has a great sense of humor.

2:39.0

And he's actually he is can make anybody laugh. So it's going to be a challenge for me just trying to keep a straight face as we go through all this because he is so much fun.

2:49.0

We have a serious topic today. So we do. But I'll tell you, there cannot be anything better than having two somewhat humorous guys talking about such a dry topic like taxes.

2:59.0

So hopefully we can make this a little different than some of the other podcasts and other information out there.

3:04.0

The two articles I have and we'll go through let's go through the dry one first because this is something that you've probably been hearing about a lot in the news is actually I pulled this off of the Yahoo website and it's from everybody is probably familiar with Ben Stein.

3:17.0

If you don't know who Ben Stein is, he's the guy from he was a teacher. He was from wonder years as well as that was from the movie.

3:28.0

Ferris Bueller's day off we got he's also a school teacher on wonder years. If you remember that has that real drive voice. He does the rising commercials.

3:36.0

He also had on one of the game networks. He had win Ben Stein's money, but been in addition to being just a unique personality is also a very, very smart man about economic issues and other things that are going on in the economy.

3:49.0

And one of the things he talked about that we're hearing a lot in the news recently is about our trade with China and how there's more and more concern, especially with a lot of our legislators that they feel like they need to restrict what China is doing.

4:03.0

And that all sounds good because we're all Americans on all very patriotic and it pulls at our heartstrings like I completely understand we do need to make sure that everything's all American and we're not doing anything with the Chinese.

4:14.0

So what are the Chinese truly guilty of this is this is what we really need to ask ourselves bring it down what are the Chinese guilty of and what they're guilty of is really selling their goods to us too cheap.

4:25.0

So much so that we are buying a lot more than they're buying from us. And I'll tell you if you think what is that how does that impact me because all I want to do is I want to protect the Americans.

...

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