Retirement Tax Services Podcast
Talking Taxes with Clients with Joshua Horton
Oct 28, 2024
In this discussion, Joshua Horton, a financial advisor and RTS member known for educating clients on tax topics, dives into essential tax strategies for retirement. He and Steven tackle common tax questions and offer insights on the complexities of the IRS tax code. They also explore how to navigate the dynamics between CPAs and CFPs for tailored tax outcomes. Additionally, they discuss upcoming changes to the tax code and the importance of proactive tax planning, all while emphasizing the need for clear communication with clients.
26:54
Episode guests
AI Summary
AI Chapters
Episode notes
Podcast summary created with Snipd AI
Quick takeaways
- Proactive tax planning, including regular reviews and collaboration with financial advisors, is crucial for optimizing tax strategies and minimizing liabilities.
- Utilizing Roth accounts effectively allows clients to manage their tax burden, enhancing long-term growth and increasing net retirement income through strategic income timing.
Deep dives
The Complexity of the Tax Code
The tax code is described as complicated and overwhelming, with its extensive length making it challenging for most individuals to navigate effectively. Many people receive little to no education on tax management beyond the basic requirement of filing their taxes, which leads to confusion and stress during tax season. This complexity means that outside expertise, such as that from CPAs and tax advisors, can provide essential guidance to help individuals better understand their tax obligations and strategies. The episode emphasizes that proactive tax planning can alleviate the pain associated with unexpected tax liabilities and ensure that individuals pay only what they owe, without leaving excessive amounts for the IRS.
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
