2025 Tax Changes You Can’t Afford to Ignore!

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The Money Guy Show

The Money Guy Show

Күн бұрын

Пікірлер: 153
@tatianastarcic
@tatianastarcic Ай бұрын
I don't like taxes purely for 1 reason, the government makes you calculate your own tax and penalises heavily for doing it wrong. I have no issues paying taxes as a US citizen, however I hate that I have to do the paperwork when the government already has all the info they need. Always struck me as odd.
@TinaJames222
@TinaJames222 Ай бұрын
I don't regret the numerous financial mistakes I've made in the past since I've learnt from them. But the biggest one was planning my finances without consulting with a licensed financial counsel.
@IamJonny-o4v
@IamJonny-o4v Ай бұрын
I could really use the expertise of this advisors
@Vincent-j8u
@Vincent-j8u Ай бұрын
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Melissa Terri Swayne for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
@mandypdx
@mandypdx Ай бұрын
The government does not know your charitable contributions to goodwill or the miles you drove to make the donation. They don’t know your out of pocket medical expenses, or your sales tax deductions. If you itemize, they don’t know…
@morgansofia
@morgansofia Ай бұрын
Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
@keegirose
@keegirose Ай бұрын
Can you boost the mic volume on the streams? It’s quieter than most videos on KZbin.
@ambermills546
@ambermills546 Ай бұрын
The low volume also makes the ads super loud compared to the video. It is super jarring.
@calebyee2883
@calebyee2883 Ай бұрын
Agreed with this on my end too
@saulmarquez8989
@saulmarquez8989 Ай бұрын
👍🏽 I agree
@jroysdon
@jroysdon 21 күн бұрын
@@ambermills546 - what are ads? Hah, yt-dlp for the win.
@carlgarrett5142
@carlgarrett5142 Ай бұрын
There is something very Miami Vice about Bo's mustache. 😄
@rebelcellist
@rebelcellist Ай бұрын
So bad
@thomaslunden
@thomaslunden Ай бұрын
​@rebelcellist but like, in a good way.
@rebelcellist
@rebelcellist Ай бұрын
​@@thomaslunden😄 Of course
@michaelswami
@michaelswami Ай бұрын
Agree with Bo. Loans to friends and family should be presumed to be never repaid. That way the money doesn’t ruin your relationship.
@olivenealr06
@olivenealr06 Ай бұрын
My personal problem how to maximize my investment portfolio without having to be taxed to the teeth whenever I liquidate my assets. I want to put in an extra 70k in the stock market.
@CandiceHandelle
@CandiceHandelle Ай бұрын
True, the tax codes can be unfavourable. I can definitely relate with this.
@BBmbr89
@BBmbr89 Ай бұрын
Haha but you could actually make a lot of profit and not worry too much about taxes. It's all about playing the game well. I work with a financial advisor and I make sizeable profit north of 300k every quarter without even doing much.
@LuvmeRos
@LuvmeRos Ай бұрын
@@BBmbr89 This is incredible. Could you recommend who you work with? I really could use some help at this moment.
@LuvmeRos
@LuvmeRos Ай бұрын
This is incredible. Could you recommend who you work with? I really could use some help at this moment.
@BBmbr89
@BBmbr89 Ай бұрын
I've stuck with ‘’Jennifer Leigh Hickman” for years now, and her performance has been consistently impressive. She’s quite known in her field and you can look her up.
@travis1240
@travis1240 Ай бұрын
Family debt is "high interest" even at 0%
@xaldath4265
@xaldath4265 Ай бұрын
Agree. 100%. It's absolutely taking advantage of someone you supposedly care about to not repay as soon as reasonable, regardless of the rate.
@bettedavis9261
@bettedavis9261 Ай бұрын
​​​@@xaldath4265we loaned our oldest son 10k for a car. We drew up paperwork stating the loan amount, interest rate (0%), term (3 years), minimum monthly payment, and due date. We signed and dated it. Our son has paid early every month, as well as more than the minimum amount. He has ten more payments to make.
@WeezyMcClosely
@WeezyMcClosely 16 күн бұрын
Definitely pay off the family debt ASAP before it gets weird(er).
@Austin-fc5gs
@Austin-fc5gs Ай бұрын
6:13 its funny Bo trying to explain why this would happen and completely missing it. Its employers not letting their employee work enough to be "full time" so they can save costs on benefits
@gingerkilkus
@gingerkilkus Ай бұрын
These frequent tax code changes are disrupting my long-term investment strategies. Are there ways to structure my investments to be more resilient to potential tax code modifications?
@BernardFrederick-tk7un
@BernardFrederick-tk7un Ай бұрын
I honestly think America needs a completely restructure of their political system. It is just not working. Trump being elected out of 300 million people to run the country is evidence for that too.
@williamDonaldson432
@williamDonaldson432 Ай бұрын
This is why the US should elect more progressive politicians, who know how to manage budgets and give us (yes, pur country's initials literally spell out that pronoun) much better tax credits in return for better public education and better public healthcare. but since these are nonexistent, my husband and I are being guided to finance our retirement and healthcare through a diversified investment portfolio
@foreverlaura-fq4eu
@foreverlaura-fq4eu Ай бұрын
@@williamDonaldson432 How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@foreverlaura-fq4eu
@foreverlaura-fq4eu Ай бұрын
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
@williamDonaldson432
@williamDonaldson432 Ай бұрын
Annette Marie Holt is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@boltkane6827
@boltkane6827 Ай бұрын
NEVER borrow to lend money to family or friends. You can give if they are in need. I would definitely make paying a family member back 2.5 on the order of operations even though it's a zero interest loan. Pay back the money ASAP. Borrower is slave to the lender. Family functions/get togethers, visiting, and just talking on the phone will be different until that loan is paid back. In the early 90's my dad loaned his brother $5,000 zero interest and in the end it tore apart a close sibling relationship.
@tckiefer
@tckiefer Ай бұрын
Never loan family money. Either hire them for a job and pay them once the work is done or gift the money.
@montehatch
@montehatch Ай бұрын
I think Johnathan’s question about 25% pre vs post tax wasn’t adequately answered. He wasn’t asking about allocation, but savings rate. If you save 25% pre tax that is different from 25% post tax in pure dollars and budgeting.
@montehatch
@montehatch Ай бұрын
I should clarify, 25% *in* pre tax or 25% *in* post tax.
@BenTodd-fl8nv
@BenTodd-fl8nv Ай бұрын
I am impressed with your update with these strategies, I am looking for tax efficient way to rebalance my 800k retirement portfolio without triggering capital gain tax. what asset location strategies should i use?
@Theresaa12
@Theresaa12 Ай бұрын
The best strategy depends on your financial situation, account types, tax bracket, and investment goals. Consult a financial advisor or tax professional to tailor these strategies for maximum tax efficiency.
@RickWatson-xu6gw
@RickWatson-xu6gw Ай бұрын
My advisor helped me rebalance my $2m portfolio without triggering capital gains taxes by using tax-advantaged accounts and reallocating dividends and new contributions. They also recommended tax-loss harvesting and strategies to stay within my tax bracket. Thanks to their guidance, I maintained my desired asset allocation while minimizing taxes.
@A_francis
@A_francis Ай бұрын
I'm worried about my retirement portfolio and could use some guidance. How can I get in touch with your advisor?
@RickWatson-xu6gw
@RickWatson-xu6gw Ай бұрын
I work with the popular *Marissa Lynn Babula* Who happens to be a is a hot topic among financial elitist in NY. Especially for her works during Covid. All the information you need to set up an appointment is on her web page.
@edgaribarra8531
@edgaribarra8531 Ай бұрын
Bot thread 🤖
@valerieproctor517
@valerieproctor517 Ай бұрын
My favorite moments are when Bo says "that one was for free!"
@RobWilliams007
@RobWilliams007 Ай бұрын
Audio seems low today- just FYI.
@jroysdon
@jroysdon 21 күн бұрын
Thanks, went ahead and upped my 457b from 884.62 to 903.85.
@MMSTUDIOS5
@MMSTUDIOS5 Ай бұрын
Thanks for the helpful information guys!!!
@Mcvida2222
@Mcvida2222 Ай бұрын
I love The money guy show.. you guys are always proactive .
@DanAppert
@DanAppert Ай бұрын
Getting some real Mcconaughey in true detective vibes. "Finances are a flat circle."
@melliebe6029
@melliebe6029 Ай бұрын
Omg yes 😅
@lukasclark884
@lukasclark884 Ай бұрын
I have heard that in 2025 you can take some money from the employer match and move it over to your HSA. Can you do a segment on this? Seems like it could have some useful tax advantages, and some break in the case of emergency benefits.
@bhood24
@bhood24 Ай бұрын
Can the audio team increase the output volume a bit? The content is notably lower than other media.
@curtiswfranks
@curtiswfranks Ай бұрын
It seems fine for me without earbuds.
@dirtydan6098
@dirtydan6098 Ай бұрын
Fine for me
@horanz
@horanz Ай бұрын
Agreed. Commercials and other content are much higher volume which causes issues when you have to bump the volume whenever listening to them and then switch to other content that is super loud.
@pierrefitch
@pierrefitch 10 сағат бұрын
is this for Canadian in Quebec also???
@martyanderson6327
@martyanderson6327 Ай бұрын
9:00 "if you work for a company that has a simple ira, why?" Oof, I feel that. Because they're old and don't like change. I've told them we would both benefit more from a 401k. Then again I like being able to choose Fidelity for my simple ira, if they set up a 401k it would probably be with a worse provider.
@thedude5040
@thedude5040 Ай бұрын
I will never understands how some 401ks get setup with the absolute stupidest provider and options.
@mariahsmom9457
@mariahsmom9457 Ай бұрын
I HATE Fidelity... had a terrible experience with them not being able to even complete and file documents correctly. No accountability and terrible customer service. Moved my money out immediately. Ugh
@martyanderson6327
@martyanderson6327 Ай бұрын
@mariahsmom9457 they've been great for me and a lot of people praise their customer service. There'll be outlier situations of course, sorry that happened to you. I have my simple ira, hsa, roth ira, and brokerage all through Fidelity.
@BrianW211
@BrianW211 Ай бұрын
The new super catch-up contributions seem like they would appeal only to employees that are both way behind and planning to work well past age 65.
@kellysnyder5482
@kellysnyder5482 Ай бұрын
Can you answer a question…it is regarding the BOI beneficial ownership information. Our business is sole prop so then I see we do not need to fill it out. However, we also have an LLC that owns our business building in which our business pays rent to this LLC. Does that LLC need to fill out the BOI Thanks so much!!!
@arh1234
@arh1234 Ай бұрын
I think all LLCs have to do the BOI filing. It's really quick and easy.
@ryebread447
@ryebread447 Ай бұрын
I can't max the current amount. HSa and half Roth and employer match only
@MonikaLynne11195
@MonikaLynne11195 Ай бұрын
I'm with you. I can't contribute the max to a single one let alone all of them 😢
@phila154
@phila154 Ай бұрын
That's awesome! It took me several years to grow income to be able to max out just one of them so it's work for sure
@jroysdon
@jroysdon 21 күн бұрын
Do what you can do, and as you get pay increases try to put another 1/2% or full percent toward retirement accounts.
@oherroprease207
@oherroprease207 Ай бұрын
No change on Roth WHAT!?!
@dylanschang6386
@dylanschang6386 12 күн бұрын
I feel like you guys didn’t really answer the actual question about family loans. Yes you should pay it back, yes you should set your terms. But I think what the question was getting at was more about “FOO states you should prioritize loan payback based off interest rate high to low. Since family loan is zero, the assumption is to pay it off last. But is there a moral obligation to pay a family loan off first before interest loans to institutions, and if so, where is the line? Should I pay family loan before the payday loan at 400%? Before my credit card bill at 27%?”
@15minuteworkout20
@15minuteworkout20 Ай бұрын
Great episode everyone!
@larrypirela1836
@larrypirela1836 Ай бұрын
Why did I feel like Bo kept saying “ketchup contributions”. Those are definitely easier to make
@donjohnson1416
@donjohnson1416 Ай бұрын
The open enrollment question has to be the most exhausting. NO ONE CAN TELL YOU WHAT YOU SHOULD GET. DO THE GD MATH. Jeesh. Its addition and subtraction.
@Successfinder123
@Successfinder123 Ай бұрын
1:14:58 you need an HSA vs PPO resource
@ld5714
@ld5714 Ай бұрын
I can't help but wonder if the catchup and super catchup provisions and increases to IRAs aren't to encourage people to save due to the unavoidable Social Security benefit cuts that will come at some point.
@DobyDuke
@DobyDuke 16 күн бұрын
Half million subscribers and no time stamps? Get with the program!
@jarias14
@jarias14 Ай бұрын
I'm having a hard time with the stash.
@rayzerot
@rayzerot Ай бұрын
Seconded
@michaelc8179
@michaelc8179 Ай бұрын
Man the family loan at zero percent needs more conversations with the family members involved. Just to make sure the ppl involved are on the same page. Hate to see a wedge over this "loan". Basically, Brian nailed it with the communication.
@sulingotto
@sulingotto Ай бұрын
Unfortunately when you borrow money to others you are family or friends, when you asked them to get your money back you are enemy. Basically borrowing money is purchasing an enemy.
@jroysdon
@jroysdon 21 күн бұрын
Best to not loan money to family and friends. Gift it or do not, but never loan.
@nickerickson7324
@nickerickson7324 Ай бұрын
Bo McConaughey
@alexconstantine192
@alexconstantine192 Ай бұрын
Please do a whole episode about how much you need to earn to actually max out a 401k. I hear you guys advise maxing it out; but how much do you need to make to just opt in to losing 24k?
@jroysdon
@jroysdon 21 күн бұрын
It's a combination of how much to earn and how much to decrease your expenses by. If you are contributing to a Roth 401k, it's that exact amount you contribute that you won't receive in your paycheck. If you are contributing to a Traditional 401k it is the amount, less the Federal and state taxes you would have had to pay. For instance, if I want to put in $10K and my tax bracket is 22% Federal and 10.3% California (combined 32.3%)... $10,000 / 1.323 = $7558.58 in less net pay.
@LKNBoneDoc
@LKNBoneDoc Ай бұрын
heck yeah, staying strong with the ‘stache game, Bo
@kirkgamblin416
@kirkgamblin416 14 күн бұрын
How much do you think Bo’s facial hair game correlates with the increase in financial mutant subscriptions? 😂
@rayzerot
@rayzerot Ай бұрын
*Completely* obnoxious when the 401K limits get increased by the IRA limits stay the same. Honestly the contribution limits should be switched for both of them.
@arh1234
@arh1234 Ай бұрын
Increases with inflation, minimum increase $500. 401k limits are higher, so they hit the $500 increase threshold more frequently.
@raisingamazing
@raisingamazing Ай бұрын
Hey guys, where’s all your merch!!!
@DobyDuke
@DobyDuke 16 күн бұрын
Abolish the irs!
@jordanhoman0212
@jordanhoman0212 Ай бұрын
Starts at 0:30
@briankelly1240
@briankelly1240 Ай бұрын
I have a Simple IRA, why is the contribution limit less than 401ks?
@eedre4864
@eedre4864 Ай бұрын
Also - why is there an income limit on Roth IRA’s and not Roth 401k’s?
@CM-bj8hr
@CM-bj8hr Ай бұрын
I think it’s to help keep rich people paying taxes but to help working class. Simple is accessible to everyone not just employees and the Roth 401 is only available to w-2 employees. Would verify that though.
@pete5691
@pete5691 Ай бұрын
The laws around hsa accounts should be changed. High deductible insurance for a family doesn’t make sense.
@BroxsonDeighan
@BroxsonDeighan Ай бұрын
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Grace Miller.
@MorelaKagarise
@MorelaKagarise Ай бұрын
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
@masterotrunks
@masterotrunks Ай бұрын
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
@GrozaGroza-ko7fn
@GrozaGroza-ko7fn Ай бұрын
The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.
@nickmcdonarld
@nickmcdonarld Ай бұрын
I'm new at this, please how can I reach her?
@mirchimome
@mirchimome Ай бұрын
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
@christinab9133
@christinab9133 Ай бұрын
❤❤❤
@TabbsCubes
@TabbsCubes Ай бұрын
Bo are you ever NOT excited to talk about a topic?
@johnogden4432
@johnogden4432 Ай бұрын
Bonus depreciation ..... Can I buy a RV to rent and take bonus depreciation?
@Ethernet480
@Ethernet480 Ай бұрын
I’m more of a mustard contribution person………………….I’ll just see myself out 👋
@eldersprig
@eldersprig Ай бұрын
this country was made by mustard...
@xaldath4265
@xaldath4265 Ай бұрын
Underrated comment(zero current likes).
@masquereseau5635
@masquereseau5635 Ай бұрын
Ohh bringg dat mulah 🎉
@19jiraiya
@19jiraiya Ай бұрын
What other foods will you try besides fried chicken, burger, fries and your typical fast foods?
@djsnowpdx
@djsnowpdx Ай бұрын
You missed able to work limits. :-)
@DobyDuke
@DobyDuke 16 күн бұрын
Retire early? Why sell stock? Live off the dividends! If your stock’s don’t pay dividends then buy one’s that do!
@BinJim31X24
@BinJim31X24 Ай бұрын
Shout out to the Angelika Theater!
@roswel7845
@roswel7845 Ай бұрын
Missed it again
@plogod9797
@plogod9797 Ай бұрын
It’s okay. You can skip over all the stupid fillibustering over how to pronounce usernames, irrelevant and boring tangents, and rote repeating of where to email to get your winner junk!
@Waltuh22232
@Waltuh22232 Ай бұрын
@@plogod9797you sound fun!
@plogod9797
@plogod9797 Ай бұрын
@@Waltuh22232 thanks hun
@valerieproctor517
@valerieproctor517 Ай бұрын
@@plogod9797 why do you watch, then?
@RegineBrady
@RegineBrady Ай бұрын
DID YOU JUST PULL THE DAVE RAMSEY CRITICISM VIDEO YOU POSTED THIS WEEK OR AM I JUST HAVING TROUBLE FINDING IT? PLEASE ADDRESS.
@YelloDuzzit
@YelloDuzzit Ай бұрын
Yo, my man Beau, the beard was much better... Idc what anybody says Obviously, you do whatchu want... But anybody that said anything bad about the beard waa wrong. Especially, now.
@ronburns3
@ronburns3 Ай бұрын
How do you like your Remarkable?
@nicstevens6499
@nicstevens6499 Ай бұрын
That mustache... that's just not right...
@mickeypigknuckles
@mickeypigknuckles Ай бұрын
I love how our government thinks the solution to people not saving enough for retirement is to allow them to save more for retirement.
@WeBeatMedicare6969
@WeBeatMedicare6969 21 күн бұрын
In many cases, older employees have more money available to save in their early 60’s than they did in the messy middle of their 30’s and 40’s (also 20’s and 50’s) for that matter…but what I understand where you’re coming from
@jroysdon
@jroysdon 21 күн бұрын
@@WeBeatMedicare6969 - yup, until my kids were out of the house, it was very hard to contribute to retirement plans, and definitely was not going to be able to max out retirement accounts.
@KennethWard-uo9ft
@KennethWard-uo9ft Ай бұрын
So much happiness and joy $12k weekly returns has been life changing. AWESOME GOD I now have a house and can now afford anything for my family even with my Retirement..
@Janejones-hz6sj
@Janejones-hz6sj Ай бұрын
wow this awesome 👏 I'm 37 and have been looking for ways to be successful, please how??
@hm51008
@hm51008 Ай бұрын
Naughty spam bots…
@MrsFrançoisCharlotte
@MrsFrançoisCharlotte Ай бұрын
I'm ecstatic with the election and the year-end market surge. Which hidden jewels in the upcoming bull run would you buy with 100 grand right now? My goal is to position myself for a prosperous Q1 in 2025.
@KalleWahlgren
@KalleWahlgren Ай бұрын
Bitcoin through 2025, then high yield ETFs through the bear market 26'-27' that's my plan.
@IvonEoin
@IvonEoin Ай бұрын
"DCA DCA" is the golden term but the key. My dollar portfolio i DCA with is made up of 30% SCHG, 25% SCHD, 15% VO0 and over 30% in digital assets, thanks to my CFA. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends. Q3 taxable divs this year was $18,388.
@JoelBergman-i6x
@JoelBergman-i6x Ай бұрын
I find your situation fascinating. Would you be willing to suggest a trusted financial advisor you've worked with?
@IvonEoin
@IvonEoin Ай бұрын
Caroline Suzan Olson is the adviser I use, and I'm just putting this out here because you asked. You can just search the name. You'd find necessary details to work with to set up an appointment.
@JoelBergman-i6x
@JoelBergman-i6x Ай бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
@devilmonkey427
@devilmonkey427 Ай бұрын
Hey Bo Do they make you stay a safe distance from kids with that mustache?
@danielflowers1985
@danielflowers1985 Ай бұрын
What a bunch of word salad to answer a simple question. That's absolutely ridiculous that you can't answer a basic Roth versus traditional retirement question
@horanz
@horanz Ай бұрын
You should put out some content that explains this “basic” concept.
@xaldath4265
@xaldath4265 Ай бұрын
Many times, they have. Under 25% income tax, favor roth. Over 30%, favor traditional. In between, it's maybe both but very situational. For legal reasons, they aren't inclined to give specific advice on how a specific person asking publicly how they *should* handle their finances.
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