The Retirement Tax Podcast

This throwback takes us to the most listened-to episode of the year! In this episode, resident "Least Boring CPA" Steven Jarvis takes listeners through the first part of 1040, providing insights and information to help you understand your tax return. Steven dived into both technical details and key reminders on what's most relevant, along with important yearly changes to watch out for. This episode is as "hands-on" as it gets—so grab your own tax return and follow along as Steven breaks it down https://zurl.co/oq0X3.

This week's throwback takes us to one of our most popular episodes from last year, originally released on December 1st, 2023! In this episode, Ben and Steven had a less technical discussion and instead focused on the importance of mindset and perspective when it comes to planning. The words we use can make all the difference on the success of a plan and our ability to really consider changes we may need to make. Ben and Steven also talked about a live webinar they had together and some of the highlights of what was discussed there. Let's revisit the powerful insights they shared! https://zurl.co/B6lL

In this episode, Ben peppers Steven with questions about a recent IRS audit he participated in. Steven shares the ins and outs of going through an IRS audit, best practices for the actual process, and why it's so important to take the "straight face" approach to taxes whether you ever get audited or not. Listen in as Ben asks questions you've probably always had, and Steven takes some of the mystery out of what an IRS audit can be like. No, they aren't fun, but they don't have to be scary. https://zurl.co/kpvu

In this episode Ben and Steven talk about the weather (it was only a quick tangent, we promise), the upcoming election and the kind of tax planning that will get a professional sued. As always they are focused on helping people consistently do the little things over time that add up to a big difference and help listeners tune out the noise and confusion that inevitably comes with an election year, including on tax topics. Steven and Ben also answer a listener question, which we love receiving so keep sending them in. https://zurl.co/yVNH

With only a few weeks until the election, Ben and Steven share their thoughts on how you should change your tax planning based on who wins. Spoiler Alert: regardless of the outcome of the election, you are most likely going to keep doing the same foundational things. Tax laws change; it's normal. The people who do their best to minimize their lifetime tax bill take a proactive, long-term approach, and that means not overreacting to headlines and sound bites. Listen in as Ben and Steven share their thoughts on how to navigate uncertainty on taxes.

Ben and Steven are back and in this episode they are helping you get ready for the end of the year. With 91 days until 2025 there are still actions you can take but it pays to get started and avoid the end of the year crunch. In addition to sharing tax planning strategies you should be thinking about Steven shares some of the most common "bumps" he sees DIY taxpayers run into and how you can avoid them. https://zurl.co/BBq6  

The dynamic duo are back together to discuss the IRS's latest "change" to tax rules. This isn't a new topic but the IRS has recently "finalized" the rules originally proposed years ago around inherited IRAs. Ben and Steven provide insight for how to think about inherited IRAs, the the 10 year rule, the value of long term planning and the requirements around required minimum distributions https://zurl.co/kt94

In this episode Ben is generous enough to share a personal tax experience to help all our listeners better understand a confusing topic: real estate. Listen in as Ben and Steven talk through the details of Ben's real estate journey including the taxes along with other pieces people don't always think about when they are trying to decide if an investment was in fact "a good deal". Most people just look at "how much did I pay for it and how much can I sell it for" but that leaves out the cost of ownership each year and the potential tax liability. With taxes there is almost always more to the puzzle. https://zurl.co/CzBc

In this episode Ben and Steven share stories about everyone's favorite Office couple "Jim and Pam" and some of the tax situations they can find themselves in. More specifically they talk about what you can do when you have a CPA who is unwilling or unable to help you. They both share examples of how this situation can come about and what you can do if you are "lucky" enough to end up on the receiving end of confusing communications from the IRS. As always Steven and Ben give you actionable advice that can help you the next time you are feeling tax puzzled. https://zurl.co/fZUl

Steven and Ben are back sharing their insight on real world tax situations they have personally helped clients deal with. First, they discuss the unfortunate (but all too common) scenario when two professionals are providing you with different opinions. Ben shares his first-hand experience dealing with this as one of those two professionals and what he learned along the way. They also discuss the challenges that can come up with tax planning when the IRS doesn't seem to understand their own rules. While it's great to have a tax pro Ben and Steven discuss why it's important to understand your responsibility as well. https://zurl.co/3Z6I

In this episode Ben and Steven share insight on Health Savings Accounts (HSAs) specifically prompted by listener questions. In addition to covering the basics of what everyone should know about contributing to, investing in and using an HSA, the guys also cover some more unique situations that come up with HSAs. In particular they give you the run through on how using an HSA changes when Medicare comes into the picture. Whether you currently have an HSA or not this episode will provide great insight.

Once again (this is their third year!) Ben and Steven are giving you the highlights of the IRS Dirty Dozen, an annual list of frauds, schemes and scams to be on the look out for. This episode is not meant to scare, just make you aware. Steven and Ben share insight on what's out there and what you can do to help protect yourself from bad actors and unfortunate situations that can pop up. The great news is that there are resources available and you can absolutely the craziness this list represents. https://zurl.co/bJWy

Summary: In this episode Steven and Ben are back together and answering questions sent in by great listeners like you. Covering a variety of topics Ben and Steven take the time to give specific answers to these situations along with broader insight that will benefit everyone listening in. Stay tuned to the end as Steven and Ben talk about tax filing statuses, 529 plans and creative ways to use them along with 1031 exchanges and rental properties. You can submit your own question at retirementtaxpodcast.com https://zurl.co/FFwQ

Continuing the theme of sharing lessons learned from recent client conversations, Steven and Ben share common things they see on tax returns that are just as commonly areas for confusion and questions. The tax code can feel like a mystery but with a little help it can be less intimidating. The guys share some of the things they regularly see, like foreign income and business deductions for non-business owners, that might have you scratching your head if you've never encountered them before. Listen in as Steven and Ben shed some light on things you may have always wondered but didn't know who to ask. https://zurl.co/bvDk

In this episode our dynamic duo is back for more tax fun as Ben wrapped up his spring surge and Steven is passed the tax filing deadline. Fresh off of so many client meetings they both have stories to share and questions to answer. This episode's discussion focuses on what to do if you (or someone you know or are responsible for) haven't filed your taxes...maybe in a few years even. The good news is that it is unlikely any is going to jail, it's just time to get things caught up and back on track.  

In a special episode this week Steven is joined by a tax professional who doesn't do any tax preparation. Kristine Stevenson is an Enrolled Agent who previously worked for the IRS and now specializes in tax resolution work. Steven and Kristine talk about what tax resolution work includes and when it might be something a taxpayer needs to pursue. They also discuss what it's like working for the IRS and how their systems and communications work. This interview was originally recorded on Steven's podcast for Financial Advisors. https://zurl.co/CFTm

This week's episode is a special one in that Steven is not being joined by a CPA or CFP. Steven's guest this week, Ashley Quamme, is actually a Fractional Financial Behavior Officer (don't worry, they talk about what that is) and specializes in helping financial planning firms go beyond the numbers and understand how their clients think, feel and do money. Steven and Ashley explore the science behind some of the things Steven has learned and does in his own practice and the advice he shares with Advisors. This is an incredibly insightful conversation that will give you a different angle for improving your tax and financial planning skills. This interview was originally recorded on Steven's podcast for Financial Advisors. https://zurl.co/LTwG

Benjamin Brandt is back on the join this week and rejoins Steven Jarvis to talk tax topics that are relevant in April. Whether you've already filed your return or still need to get it across the finish line the guys have some great information for you. They also dive into what it means to file an extension and when it makes sense to do just that (spoiler, Steven regularly files an extension for his own taxes). And they cover some of the things you should be on the lookout for before you get your heart too set on amending a return. https://zurl.co/2IOs

In this episode resident "Least Boring CPA" Steven Jarvis wraps up his walkthrough of a 1040 providing insight and information to make sure you understand your tax return. Steven covers both technical details as well as reminders on what might be most relevant to you and changes to watch out for from year to year. This is as "hands on" as a podcast episode can get so be sure and follow Steven's recommendation to have your own tax return handy as you listen to this great episode. https://zurl.co/WV57

In this episode resident "Least Boring CPA" Steven Jarvis continues taking you through the first part of a 1040 providing insight and information to make sure you understand your tax return. Steven covers both technical details as well as reminders on what might be most relevant to you and changes to watch out for from year to year. This is as "hands on" as a podcast episode can get so be sure and follow Steven's recommendation to have your own tax return handy as you listen to this great episode. https://zurl.co/5eCD

In this episode resident "Least Boring CPA" Steven Jarvis takes you through the first part of a 1040 providing insight and information to make sure you understand your tax return. Steven covers both technical details as well as reminders on what might be most relevant to you and changes to watch out for from year to year. This is as "hands on" as a podcast episode can get so be sure and follow Steven's recommendation to have your own tax return handy as you listen to this great episode. https://zurl.co/QduA

In this episode your favorite "least boring" tax podcast hosts are back to sort out the truth on the internet. Sharing some recent tax articles they read, Steven and Ben dive into a specific example of when the internet gets it wrong and some general advice on how to make sure you know what is actually true online. This isn't about dragging anyone through the mud, Steven and Ben both give examples of times they've gotten things wrong, but it's important to commit to life long learning and always improving. https://bit.ly/3S56UUJ

In this episode your Least Boring Tax Podcast hosts cover a variety of tax topics including unusual ways to use the IRS's 60-day rollover rules on IRAs. As always Ben and Steven pull from real experiences serving real clients to share ways you can better understand your own tax situation and proactively plan for the future to sand the rough edges off your Retirement Tax bill. https://bit.ly/3HeePtO

Ben and Steven are kicking off 2024 by helping you wrap up 2023 and look to the future. Just because the calendar flipped over doesn't mean we can forget about 2023 quite yet. Make sure you are keeping track of important deadlines and on the look out for the tax documents you or your tax pro will need to get your 2023 tax filing done. Taxes will hopefully NOT be the most exciting part of your 2024, but small consistent actions over time will help make sure they are a little less painful this year.  

Going back to the most popular episode of the year of The Least Boring Tax Podcast as Steven and Ben discussed all things Medicare and everyone's least favorite tax relative: IRMAA. You hear the acronym all the time but our dynamic duo took a few minutes to dive into how IRMAA really works and the important things to keep in mind when IRMAA starts effecting you. https://bit.ly/47XvTQM

In this episode Ben and Steven have a less technical discussion and instead focus on the importance of mindset and perspective when it comes to planning. The words we use can make all the difference on the success of a plan and our ability to really consider changes we may need to make. Ben and Steven also talk about a recent live webinar they did together and some of the highlights of what was discussed there.  

03In this episode Ben and Steven discuss some real life examples of how things can go wrong with the IRS. This isn't meant to be doom and gloom, they share how you can be proactive and avoid getting into trouble, and best practices for what you should do if the IRS does ever have questions about any of your tax returns. At the end of the day applying the "straight face" test and keeping great records are your keys to success. https://bit.ly/3QW2ZJx

Thanks in part to an article that kept being sent to Steven, he and Ben share their thoughts on what the true value of Roth accounts can be and how to sift through the "noise" on the internet (that Steven refers to as garbage at one point in the episode). Tax planning is situation specific so Ben and Steven talk about the clients they typically work with and how it is going to make the most sense to look into Roth options. Stay to the end for their thoughts on what Congress might do in the future with Roth rules. https://bit.ly/475qfuO

In this episode Ben and Steven give a preview of the upcoming live webinar on October 25th centered around planning for the inevitable passing of the first spouse. It may not be a fun topic to think about but there are a lot of important planning considerations when it comes to your life and legacy. From how your tax situation will immediately change to proactively disclaiming assets our hosts share valuable insight and an invitation to join a live session to learn even more. https://bit.ly/3ZwfYW3

In this episode Ben and Steven compare their approaches to the speed limit (they recently took a road trip with their families) and how that is different from how they look at filing their taxes. They are serious when they say "pay every dollar you owe", tax planning is not trying to see what you can get away with. Our hosts go through an entire list of potential ways to increase your risk of audit and share similar wisdom for most of these areas: do the right thing and keep great records. https://bit.ly/452LfB0

In this episode Steven and Ben are back to share the latest from the IRS on where they are seeing fraud and scams happen. Hopefully none of these apply to you but it's always good to know what to be on the look out for so you can be one step ahead of the "bad guys". Steven and Ben share their insight on which ones on the IRS's list you should keep an eye on and how to make sure you keep yourself protected. https://bit.ly/3sKYRDB

This episode was prompted by a Financial Advisor's question who follows along with Ben and Steven (there are always new things to learn, even for professionals!). Join the discussion as our hosts talk through the details you need to know and the actions you can take so you are getting the most out of this incredible tax savings tool. Listen through to the end so you can hear the question and answer so you are better prepared to understand the options when an HSA holder passes away. https://bit.ly/3DUWVdP

In this episode, Steven and Ben discuss themes that come up online around "tax planning" and share their thoughts on how you should be looking at them. They give specific examples of strategies that are worth looking into and ones that are more sizzle than steak. More than anything they reinforce the importance of making sure you (or a professional you work with) are taking the time to understand the details and not make decisions based on headlines or TikTok videos. Ben and Steven advocate for focusing on the small, consistent things that can be done over time to sand the rough edges off of your lifetime tax bill instead of getting caught up in the latest tax fad. https://bit.ly/3D8b33k

Join Ben and Steven as they discuss everyone least favorite tax relative: IRMAA. You hear the acronym all the time but our dynamic duo takes a few minutes to dive into how IRMAA really works and the important things to keep in mind when IRMAA starts effecting you. They also discuss opportunities for potentially lowering you IRMAA related income and the form you can use to request a waiver of premium increases in a year where your income drops, like the first year of retirement. In case you missed it in a previous episode, Steven and Ben also chat about the recent webinar they recorded all about long term tax planning and that the recording is available to everyone who listens to the podcast. https://bit.ly/46AvsLD

Of course we all work to do everything right the first time, but life happens! When it comes to taxes, having something go wrong can feel daunting if not down right scary. In this episode Steven and Ben talk about some of the common mistakes that can come up on tax returns and what to do if you happen to make a mistake. Sometimes the best intentions aren't enough so it's important to know what steps to take when this situation arises for you. Stay tuned to the end as Ben and Steven answer listener questions focused on the difference between leaving money in an employer sponsored retirement plan as opposed to  rolling everything into an IRA. https://bit.ly/3JwhosU

For the first time the Least Boring Tax podcast welcomes a guest to the show. Jason Parker is the host of the Sound Retirement Radio podcast and like Ben and Steven, is on a mission to help as many people as possible with retirement. Jason has created an online retirement specific budgeting tool that even covers taxes at a high level and comes on the show to talk about how this tool came about and the community he has built around it. Steven and Jason share their thoughts on getting ready for retirement and how to balance tools and expert guidance. https://bit.ly/3Mtj9Yx

In this episode Ben and Steven discuss the difference between "reportable income" and "taxable income", particularly as it relates to taxpayers doing contract and consulting work (a.k.a "side gigs"). Of course, reporting all of your income is important but this is still the Least Boring Tax podcast and all about helping you sand off the rough edges of your tax bill. Listen in as Steven and Ben go through some of the deductions you may be able to claim against your non-employment income to help lower the amount of your hard-earned money the IRS keeps every year. https://bit.ly/423GxkT  

There's less than a week as we are counting down until the May 24 Webinar from the co-hosts of the Least Boring Tax podcast (aka the Retirement Tax Podcast): Benjamin Brandt, CFP and Steven Jarvis, CPA. At this Power Session, our co-hosts will share how you can calculate your Retirement Tax bill and just as importantly, what you can do to start sanding the rough edges off of that bill. Don't forget your 2022 tax return so you can follow along and immediately start applying what you learn! Get ready to go through the real math on estimating your future tax bill so you can see why this is such an important topic. Hurry up and get registered! https://www.go.retirementtaxservices.com/rtp-webinar-a

There is something very satisfying about being able to do something yourself (like taxes) that many people have done by a professional, but is it always a good idea? Steven and Ben discuss the benefits of being a DIYer on taxes and when they see it go really well. Our hosts also discuss signs to be on the look out for that it might time to get some extra help. Steven even shares his own experience with DIYing other things in life and getting to the point where he was just ready to let someone else worry about it for him so he could enjoy more of life. https://bit.ly/3Avxjmo

In this episode our dynamic duo discusses what taxpayers can do now that their tax return is filed to prepare for the future. Ben and Steven share some of the things they regularly look for on their clients tax returns to help make sure they are not getting killed on taxes. The team discusses both mistakes and errors to look out for as well as potential planning opportunities that might be available for the future. Listen until the end as Ben and Steven answer a listener question about how and when taxes should get paid. https://bit.ly/421gQSs

Ben and Steven discuss the important distinction between tax preparation (what happened last year) and tax planning (what can happen in the future). Most people know they have to file a tax return (tax preparation), but many taxpayers are at a loss for what they can and should be doing to reduce their lifetime tax bill in the future (tax planning). Listen in as Ben shares how to estimate what your "Retirement Tax" bill might look like and Steven shares potential opportunities that might help you shave the rough edges off of that bill. http://bit.ly/3LEHZWw

In this Episode Steven and Ben talk about what listeners can do now that their 2022 are filed (and touch on a few things to keep in mind if you haven't quite finished). While filing last year's tax return is an important step, the Least Boring Tax hosts you know share their thoughts on why tax planning can be so much more valuable. Listen in as Ben and Steven share things you can be on the look out for as you review your tax return and start asking yourself questions about tax planning for the future. http://bit.ly/42u9loe

In this episode Ben and Steven discuss foundational principles that every tax payer should be aware of but was likely never taught. Taking ideas right out of Steven's new book, "Don't Get Killed on Taxes", the Least Boring Tax Podcast will teach you a few things you need to understand to get started on making your own tax plan. http://bit.ly/3Ths1U3  

The least boring tax podcast hosts are back to talk about where we find ourselves in the annual tax filing season. Steven shares a recent example of a "love letter" he is helping a client with from the IRS and shares best practices for taxpayers who end up getting their own letter from the IRS. As always Ben and Steven dive into a listener question and this time it's all about required minimum distributions and what taxpayers should be doing with the potential delay in RMDs starting that came out of SECURE Act 2.0 http://bit.ly/3Ek8KLt

In this episode Ben and Steven share insights and takeaways from Steven's new book, Don't Get Killed on Taxes (available now on Amazon). Ben and Steven focus on common "myths" that taxpayers incorrectly believe and how to change your mindset around these crucial areas. The Least Boring Tax Podcast hosts also tackle a listener question about the tax implications of inheritances. http://bit.ly/3XhM7hl  

In this episode, Ben and Steven sit down to chat about important dates, key documents, and all kinds of things that you need to know while preparing your tax filings for the year. You will get to hear why filing early isn't necessarily encouraged and what they recommend when it comes to timing your filing. You can find all show notes for this episode at: https://bit.ly/3Y7wn1j 

If there is one thing for certain, it is that change is here to stay in tax. Staying informed about the changes in compliance rules and updates to legislation is essential, but it is also, at times, exhausting. Luckily Steven and Ben have rounded up the latest tax law changes so that you can stay informed, remain a trusted source to clients and colleagues, and ensure you're giving the best advice available. You can find all show notes for this episode at: https://bit.ly/3CFMLOh 

Moving into a new year feels like a fresh start for many reasons, and it's always a good time to reflect, assess, and plan. As 2022 transitions into 2023, Ben and Steven have been working on business planning and will share some of that in this episode. They'll dive into the "why" that brought them together, how they plan to help their audience with the execution of tax planning in the future, and the vision they have for the coming year. You can find all show notes for this episode at: https://bit.ly/3G7KADY 

Capital gains tax rates have been the subject of multiple questions coming in lately, so today Steven and Ben will be sharing tips and insight to help clear up any confusion. From the seemingly tricky parts of selling stock to where people often slip up, you'll hear about the areas where you really need to pay attention and do some planning when it comes to capital gains. You can find all show notes for this episode at: https://bit.ly/3VR1Y6y 

Tax planning should be something that is looked at throughout the entire year. However, as the end of the year approaches, now is a particularly good time to review your finances and take advantage of any tax planning opportunities that may be available for you. So, in this episode, Benjamin and Steven will be sharing some tax tips to consider and answering your questions as we get closer to the end of 2021. Listen in as Benjamin explains how to approach your Roth conversions and the importance of being intentional with your spending and saving. You will learn where to start on a multi-year tax planning strategy, what questions to ask a CPA to see if they're a good fit for you, and when you may want to find someone to help you with your taxes. You can find all show notes for this episode at: http://bit.ly/3AV98hI