Main Street Business
#563 Open Forum - HSA's, Picking a CPA, Venmo & More
Feb 11, 2025
Dive into the world of tax strategies and investment insights! Learn how to choose the right tax advisor without falling for high fees. Discover the benefits of Health Savings Accounts and how to maximize their contributions. Get the scoop on upcoming changes in payment app reporting that you need to watch out for. Plus, explore the complexities of crypto IRAs and effective retirement portfolio management. With practical tips for small business owners, this discussion is both informative and engaging!
44:25
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Quick takeaways
- Choosing the right tax advisor can significantly reduce costs, as their expertise should save more money than their fees.
- Understanding Health Savings Accounts and their contribution rules can greatly enhance your financial strategies for healthcare expenses.
Deep dives
The Value of a Good Tax Advisor
A good tax advisor should save you more money than the fees you pay them, emphasizing the importance of finding the right professional. High fees shouldn't deter you, but it's crucial to ensure the advisor possesses the necessary credentials and knowledge of relevant tax strategies. Paying for a service provider lacking expertise can lead to suboptimal financial outcomes, making it imperative to conduct thorough research before committing. The relationship between a client and their tax advisor should be collaborative, with open communication about strategies to maximize savings.
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