Massively Cut Your Tax Bill #052
How to Money
iHeartPodcasts
4.6 • 3.2K Ratings
🗓️ 9 January 2019
⏱️ 51 minutes
🧾️ Download transcript
Summary
The new tax law nearly doubles the standard deduction which means even fewer folks will be itemizing deductions on their tax returns this year- however, there is still an important way to massively cut our tax bills! Regardless of whether we take the standard deduction or if we itemize deductions- we can still reduce our tax bill by ‘above the line deductions’. These are technically not actual deductions but adjustments to arrive at our adjusted gross income which we typically want as low as possible in order to pay fewer taxes! Listen as we cover some of the best ways to cut our tax bills and why you’ll likely want to do the same.
During this episode we enjoyed a Karate in the Garage by Southern Swells which you can find and learn all about on Untappd. A massive thanks to Kate from Southern Swells for sending us a bunch of their beers- we’re big fans of what they’re doing down at Jax beach! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.
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Transcript
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| 0:00.0 | I'm Israel Gutierrez. I'm hosting a new podcast called Four Years of Heat. It takes you to Miami from 2010 to 2014 |
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| 1:32.6 | Welcome to How To Money. I'm Joel and I'm Matt and today we're discussing how to massively cut your tax bill. |
| 1:44.5 | What's up, man? Hey, buddy, are you feeling healthy? It's after the holidays now and we're done being sick. |
| 2:03.7 | Anybody who's got young kids knows that sickness travels around constantly. It feels like somebody in your family is always sick and they're giving it to the next person. |
| 2:13.3 | And you have three young kids and so you're bound to be sick with three different things probably at the same time. |
| 2:18.6 | Really, we just embrace it because there's no way that we're just not going to catch whatever's going around. |
| 2:22.7 | And so what's the point in trying to sterilize everything and live in fear instead of just trying to be like a good parent and loving on them. |
| 2:30.8 | So that's our approach now. I used to be a germafob. No longer. You can't be a germafob. |
| 2:36.3 | You can't be a flexible. Yeah, totally. Oh, Matt, I wanted to mention that in our Facebook group. |
| 2:41.9 | By the way, we have a Facebook group. If you guys don't know about that, it's how to money. |
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