Major Tax Planning Strategy #1 — Adjusting the Timing of Income for Maximum Effect RPF0036

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 6 August 2014

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’s show, we tackle the first of the Big 3 tax planning strategies that you need to be aware of. As a refresher, here are the three basic tax planning strategies: Timing (deferring or accelerating taxable income and tax deductions) Income shifting (shifting income from high to low tax rate taxpayers) Conversion (converting income […]

Transcript

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0:00.0	Radical Personal Finance Podcast.
0:22.5	I thank you for being here with us.
0:24.6	Today is Wednesday, August the 6th, 2014.
0:28.0	And today's show is going to be all about tax planning.
0:31.3	We're going to continue our tax planning series and today we're going to mainly talk
0:35.6	about the three strategies for tax planning, timing, income shifting and conversion with a special focus
0:41.6	on timing. I hope you enjoy.
0:44.0	I don't know whether it thrills you with excitement, thrills your heart with
0:55.4	excitement to think about doing a show on tax planning like it does mine but
0:58.9	this is gonna be fun. We're gonna dig in're going to dig into some meat and potatoes of financial
1:04.1	planning. And I don't want the show to go off the rails into all philosophy or all politics
1:10.3	or all economics, things like that. I want to balance this with a lot of meat and
1:14.5	potatoes financial planning topics and I think this is this is very very
1:18.8	important and I want to share just a couple minutes as far as Hawaii this topic, why I hope this topic will be of interest and a value to you.
1:27.5	And then we're going to dig into some meat and potato stuff.
1:29.8	And I promise I'm going to make it fun.
1:31.4	I'm going to make it interesting and I'm going to make it fun. I'm going to make it interesting and I'm going to make it understandable.
1:35.0	We're going to be working with the highly theoretically
1:38.0	theoretical today that we're going to be working with the highly
1:40.2	theoretical but I believe this information is intensely practical once you understand
1:45.8	it.
1:46.8	So I'm going to share that with you.
	...

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