Migrate Your Money

The Federal student loan payment pause, which started March 13, 2020 in response to the COVID-19 pandemic, ends August 31, 2023. The pause suspended Federal student loan payments and interest accrual on those loans. While forbearance of payments will continue through September 2023, with payments due beginning October 2023, interest will begin accruing on Federal student loans on September 1. You can choose to begin making payments before October 2023, if you would like to. Your student loan servicer is required to notify you of your payment amount and payment due date at least 21 days before it is due. Instead of waiting to see what happens and for your student loans servicer to tell you when your payment is due and how much you owe each month, here are 7 things you should do now to prepare for student loan payments to restart in October 2023. -- Connect with the Migrate Your Money's host, Drew Feutz: ● Connect with Drew: ⁠⁠⁠https://www.linkedin.com/in/drewfeutz/⁠⁠⁠ ● Schedule An Intro & Discovery Meeting: ⁠⁠⁠https://calendly.com/drew-feutz/1hourintro⁠⁠⁠   Migration Wealth Management: ● Website: ⁠⁠⁠https://migrationwealthmanagement.com/⁠⁠⁠ ● LinkedIn: ⁠⁠⁠https://www.linkedin.com/company/migration-wealth-management/⁠⁠⁠ ● Instagram: ⁠⁠⁠https://www.instagram.com/migrationwealth⁠⁠⁠ ● Twitter: ⁠⁠⁠https://twitter.com/MigrationWealth⁠⁠⁠ ● YouTube: ⁠⁠⁠https://www.youtube.com/@migrationwealthmanagement

It seems like business owners are always looking for ways to save money on taxes. Running a business takes a lot of time and effort and you want to keep as much of your hard-earned money in your pocket as possible. Business development, growing revenue, increasing profit margins, and identifying opportunities are top priorities for business owners to be successful. Unfortunately, that means that an extremely important part of proper business management is often ignored: bookkeeping. Good bookkeeping, in my estimate, is the most overlooked way for business owners to save money on taxes. As a business owner, if you don't do good bookkeeping, you could be paying hundreds or even thousands of dollars more in tax than you should. Your business expenses directly reduce your taxable income.  If you 'forget' about some expenses because you haven't tracked well, then you'll end up paying more in taxes than you need to. -- Connect with the Migrate Your Money's host, Drew Feutz: ● Connect with Drew: ⁠⁠https://www.linkedin.com/in/drewfeutz/⁠⁠ ● Schedule An Intro & Discovery Meeting: ⁠⁠https://calendly.com/drew-feutz/1hourintro⁠⁠   Migration Wealth Management: ● Website: ⁠⁠https://migrationwealthmanagement.com/⁠⁠ ● LinkedIn: ⁠⁠https://www.linkedin.com/company/migration-wealth-management/⁠⁠ ● Instagram: ⁠⁠https://www.instagram.com/migrationwealth⁠⁠ ● Twitter: ⁠⁠https://twitter.com/MigrationWealth⁠⁠ ● YouTube: ⁠⁠https://www.youtube.com/@migrationwealthmanagement

If you're a business owner who takes W2 wages from your S Corporation, that may not be your only taxable income. An S Corporation (S Corp) is a pass-through entity for tax purposes. What does this mean? It means that the net profit generated by your S Corp is not taxed at the corporate level but rather passes through to your personal tax return. However, this pass-through feature can sometimes catch business owners off guard when it comes to calculating their taxable income. Something that is commonly misunderstood by business owners is that net profit from your LLC or S Corp passes through to your personal tax return. Many business owners who take W2 wages from their S Corp assume that is their only taxable income. However, if your business is profitable, that is far from the truth. This net profit is the remaining amount after deducting business expenses and paying your salary. It represents the earnings that pass through to your personal tax return. -- Connect with the Migrate Your Money's host, Drew Feutz: ● Connect with Drew: ⁠https://www.linkedin.com/in/drewfeutz/⁠ ● Schedule An Intro & Discovery Meeting: ⁠https://calendly.com/drew-feutz/1hourintro⁠   Migration Wealth Management: ● Website: ⁠https://migrationwealthmanagement.com/⁠ ● LinkedIn: ⁠https://www.linkedin.com/company/migration-wealth-management/⁠ ● Instagram: ⁠https://www.instagram.com/migrationwealth⁠ ● Twitter: ⁠https://twitter.com/MigrationWealth⁠ ● YouTube: ⁠https://www.youtube.com/@migrationwealthmanagement

People love to talk about tax ‘write-offs”. It seems like social media has made many people view tax write-offs as a magical solution or a cheat code to save money on their taxes. However, the reality is that a tax write-off isn’t a cheat code or a guaranteed shortcut to financial success. Have you ever seen someone talk about the Holy Grail of tax write-offs on social media? Or maybe you’ve heard someone you personally know brag about something they purchased with the intent to write it off on their taxes? The truth is (fair warning – I’m sorry because I know this is going to come off too strong) they probably don’t understand how a write-off works. Take this trade, for instance: If you give me $100, then I’ll give you $20 in return. What do you think – deal or no deal? No deal, right? This is the trade people make all the time when they purchase something through their business just because it’s a write-off. -- Connect with the Migrate Your Money's host, Drew Feutz: ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ ● Schedule An Intro & Discovery Meeting: https://calendly.com/drew-feutz/1hourintro   Migration Wealth Management: ● Website: https://migrationwealthmanagement.com/ ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management/ ● Instagram: https://www.instagram.com/migrationwealth ● Twitter: https://twitter.com/MigrationWealth ● YouTube: https://www.youtube.com/@migrationwealthmanagement

We’ve all heard the stats about how most people give up on their New Year’s resolutions before the end of January and how almost no one keeps them through the end of the year. It’s unfortunate that setting goals that you won’t achieve is the norm, but there are some simple solutions to setting goals that you will actually stick with and achieve. In this episode, Drew Feutz, CFP®, Founder & Financial Planner of Migration Wealth Management speaks about some of the most common financial New Year's resolutions, including sticking to a budget, saving more, and paying down debt, and how you can change these resolutions into more impactful input goals that focus on building habits that will help you achieve your financial objectives. Connect with the Migrate Your Money's Host: ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ ● Schedule An Intro & Discovery Meeting: https://calendly.com/drew-feutz/1hourintro Migration Wealth Management: ● Website: https://migrationwealthmanagement.com/ ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management/ ● Instagram: https://www.instagram.com/migrationwealth ● Twitter: https://twitter.com/MigrationWealth

2022 was an awesome year for Migration Wealth Management as well as our clients. In this episode, Drew Feutz, CFP®, Founder & Financial Planner of Migration Wealth Management speaks about how the business progressed throughout 2022 and the number of clients it ended with as well as updates in clients' lives throughout the year such as promotions and job changes, babies, moves and marriage, and starting new businesses. Connect with the Migrate Your Money's Host: ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ ● Schedule An Intro & Discovery Meeting: https://calendly.com/drew-feutz/1hourintro Migration Wealth Management: ● Website: https://migrationwealthmanagement.com/ ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management/ ● Instagram: https://www.instagram.com/migrationwealth ● Twitter: https://twitter.com/MigrationWealth

Insurance is almost always a gap we see when reviewing a financial plan. It’s a very difficult conversation to have not only with your financial planner but with yourself as well. You may ask, “Where do I even begin?” In this episode, Drew and Jeremy break down a few areas of insurance and when it might make sense to put these in place. Please enjoy! Connect with the Migrate Your Money Host’s: ● Connect with Jeremy: https://www.linkedin.com/in/jeremycrocker/ ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ Migration Wealth Management: ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management ● Facebook: https://www.facebook.com/migrationwealth ● Instagram: https://www.instagram.com/migrationwealth ● Twitter: https://twitter.com/MigrationWealth

With springtime behind us and the 90-degree heat in full effect, Drew and I wanted to release a quick episode running through a high-level overview as to what our springtime meeting updates consist of. Some of these topics include: Client Goals Reviewing tax returns for proper tax planning Retirement savings rate Current net worth statement Risk management review Estate planning The MWM Personal Finance Calendar We cover all of this and more in today’s episode of Migrate Your Money. Please enjoy! Connect with the Migrate Your Money Host’s: Connect with Jeremy: https://www.linkedin.com/in/jeremycrocker/ Connect with Drew: https://www.linkedin.com/in/drewfeutz/ Migration Wealth Management: LinkedIn: https://www.linkedin.com/company/migration-wealth-management Facebook: https://www.facebook.com/migrationwm Instagram: https://www.instagram.com/migrationwm Twitter: https://twitter.com/MigrationWealth

In today’s episode, Drew and Jeremy start off their conversation talking about the greatest spectacle in sports, The Indianapolis 500. They then talk about some interesting facts regarding the stadium and the race itself, of which Jeremy is blown away by. They then dive into the main topic of the day, which is Tax-Loss Harvesting. With the exception of a mouthful, what is Tax-Loss Harvesting? Who can take advantage of it? How does it even work? How about the rules behind it? What should you look out for?  We cover all of this in Episode #5 of Migrate Your Money! Connect with the Migrate Your Money Host’s: ● Connect with Jeremy: https://www.linkedin.com/in/jeremycrocker/ ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ Migration Wealth Management: ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management ● Facebook: https://www.facebook.com/migrationwealth ● Instagram: https://www.instagram.com/migrationwm ● Twitter: https://twitter.com/MigrationWealth

In this episode, Jeremy eases in the conversation with one of his most recent outdoor adventures. We even get a glimpse of Drew’s countryside as he quickly schools Jeremy on how to properly prepare his mushroom findings to not risk getting a parasite but it’s too late. The good news, Jeremy is still alive! They then get to good stuff and talk about how you should expect the market to crash. Now this isn’t meant to make you fearful, in fact, it’s quite the opposite. Jeremy and Drew dive into some interesting facts and figures from over the years that show the results of maintaining good behavior during both the good and bad markets. Also covered is Morgan Housel’s 2019 article titled, “Fees vs. Fines”. Jeremy and Drew discuss their opinions on the difference between fees and fines and how you should approach each of them. Connect with the Migrate Your Money Host’s: ● Connect with Jeremy: https://www.linkedin.com/in/jeremycrocker/ ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ Migration Wealth Management: ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management ● Facebook: : https://www.facebook.com/migrationwealth ● Instagram: https://www.instagram.com/migrationwealth ● Twitter: https://twitter.com/MigrationWealth

In this episode, Jeremy and Drew talk about how they believe that wealth management can be broken down into a formula: Financial Planning + Investment Management = Wealth Management. This means it's more than just placing investments or insurance products and moving on. It means helping people with all aspects of their financial life, not just the area's an advisor might get paid for. They then dive into which concepts make up the financial planning. These topics include: discussing your goals, cash flow planning, debt paydown, retirement planning, insurance and risk management, tax planning, college education planning, employee benefits, estate planning and everyone's favorite, portfolio management. Connect with the Migrate Your Money Host’s: ● Connect with Jeremy: https://www.linkedin.com/in/jeremycrocker/ ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ Migration Wealth Management: ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management ● Facebook: https://www.facebook.com/migrationwm ● Instagram: https://www.instagram.com/migrationwealth ● Twitter: https://twitter.com/MigrationWealth

In today’s episode, Drew and Jeremy talk about how they met in college and share some funny stories from their experiences while at Indiana State. They then dive into Jeremy’s background and touch on some of the tremendous relationships he’s built over the years as well as how he went from being a Project Engineer for one of the largest construction management firms in the country to launching Migration Wealth Management with Drew. Then, the guys pivot to Drew, where he gives his background and story, which has been built on hard work and discipline. Drew talks about his travel experiences to Greece, Italy, and Ireland, and how he strives to learn something new each and every day. Connect with the Migrate Your Money Hosts: ● Connect with Jeremy: https://www.linkedin.com/in/jeremycrocker/ ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ Migration Wealth Management: ● Website: https://migrationwealthmanagement.com/ ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management ● Facebook: https://www.facebook.com/migrationwm ● Instagram: https://www.instagram.com/migrationwm ● Twitter: https://twitter.com/MigrationWealth

In today’s episode, Jeremy and Drew talk about their purpose and why they started their own fee-only financial planning firm. Additionally, they dive into how they came up with the Migration Wealth Management name, their process, and what makes MWM unique. You’ll also hear about what financial planning and wealth management means to them. Connect with the Migrate Your Money Podcast Hosts: ● Connect with Jeremy: https://www.linkedin.com/in/jeremycrocker/ ● Connect with Drew: https://www.linkedin.com/in/drewfeutz/ Migration Wealth Management: ● Website: https://migrationwealthmanagement.com/ ● LinkedIn: https://www.linkedin.com/company/migration-wealth-management ● Facebook: https://www.facebook.com/migrationwm ● Instagram: https://www.instagram.com/migrationwm ● Twitter: https://twitter.com/MigrationWealth