White Coat Investor Podcast cover image

White Coat Investor Podcast

WCI #349: Is Over Contributing to Your 403(b) Ever a Good Idea?

Jan 11, 2024
01:07:20
Snipd AI
Tyler Olson of Olson Consulting answers questions about paying taxes and medical loans, what to do with an old SEP IRA, over contributing to a 403(b), and the difference between average and actual cost basis. They also discuss managing expectations with tax professionals and the tax implications of forgiven debt. Additionally, they explore safe harbor contributions, maximizing contributions to a 403(b), strategies for managing IRAs and Roth IRAs, and the importance of details for public service loan forgiveness.
Read more

Podcast summary created with Snipd AI

Quick takeaways

  • Taking a proactive approach towards tax planning at the beginning of the year is crucial for leveraging money-saving strategies and maximizing tax benefits.
  • Hiring a knowledgeable tax preparer who can offer proactive tax advice and ensure compliance with tax laws is essential.

Deep dives

The Importance of Proactive Tax Planning

Taking a proactive approach towards tax planning at the beginning of the year is crucial for leveraging money-saving strategies and maximizing tax benefits. Cerebral Tax Advisors, a trusted tax firm recommended by the White Coat Investor, specializes in court-tested and IRS-approved strategies to help medical professionals lower both personal and business taxes. With over two decades of experience, founder Lexis Gellotti offers high-level tax planning strategies tailored to the unique needs of physicians. By scheduling a pre-consultation with Cerebral Tax Advisors, physicians can optimize their tax returns and focus on maximizing their return on investment.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode