BTS 49: Tax Perspectives from a Spender and a Saver

Favorite quotes of the episode: "We have nothing but love for CPAs and tax professionals." "Pro-active strategic planning is always worthwhile." "PSA for the 2020 election year, beware of politicians spinning the truth to discredit their political opponents" (example: marginal tax brackets explained) From the Next Millionaire Next Door, "70% of millionaires they studied have a budget." In this episode, I welcome back Isaiah Douglas of ID Financial Planning to discuss tax planning: perspectives from a spender and a saver. This episode is meant to start a conversation around the topic of taxes and is not tax planning nor financial advice. Disclaimer: This podcast is for entertainment purposes only.  TOPICS Review of Cash Flow Taxes New standard deductions Charitable giving Federal vs. State Donor-advised fund intro DIY Taxes and Tax Software vs. hiring a CPA or Tax Advisor Marginal Tax Brackets Explained RESOURCES IRS.gov Your Tax Advisor (follow up with your personal tax advisor)  Vox.com article on Marginal Tax Brackets https://www.vox.com/policy-and-politics/2019/1/7/18171975/tax-bracket-marginal-cartoon-ocasio-cortez-70-percent Angela's favorite books will be raffled off to those who leave a review! Angela will raffle off, 1 book each week for every 5 new podcast reviews. After you've submitted your review, send an email to [email protected], include where you left your review, and the username you left the review under so we can read your review on a special podcast episode and communicate with you to ship out books to our winners! Join our email list at https://www.pawsconsulting.com/shownotes Sign up for a free High Performance Strategy Session at https://www.pawsconsulting.com/podcast  Connect with Angela at www.pawsconsulting.com or on Twitter, LinkedIn, and Instagram @DemareeDVM. How to leave a review on iTunes: Go to https://itunes.apple.com/us/podcast/beyond-the-stethoscope/id1354281411 or open iTunes. Click 'View in iTunes' (or maybe you are already there)                   Click 'Subscribe' Then Click 'Ratings and Reviews' Then Click 'Write a Review'