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Tax Advice from a former IRS Auditor

Wealth Talks

Release Date: 03/03/2020

Are Life Insurance Companies strong coming out of the COVID Pandemic show art Are Life Insurance Companies strong coming out of the COVID Pandemic

Wealth Talks

Recently there have been some sensational articles in the media suggesting life insurance companies are facing tough times with the financial crisis combined with COVID-19.   Special guest Attorney Andrew Rinn, also the Vice President of Advanced Markets at Ameritas, joins us to share an inside perspective on what’s really happening at mutual life insurance companies right now. It is fascinating to hear how life insurance companies (especially mutual companies with strong cash positions and a low debt ratio) are in a position to obtain nice deals in the current bond market.  ...

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Riding a Bicycle and good Money Management show art Riding a Bicycle and good Money Management

Wealth Talks

He straddled the bicycle for the first time, set his feet on the pedals and rode serenely away into the glowing sunset. Oh if only it was that easy! It isn’t of-course, because, like everything, there is a learning curve. Is it possible to eliminate the learning curve on a bicycle by learning everything you can about it? What if you learned the way the shifter worked, the way the derailleur, the chain the sprocket, the cassette, the front brake and the back brake worked. What if you looked up a video on bicycling 101 and even read an entire book on bicycling for dummies, would the learning...

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What are you worth? show art What are you worth?

Wealth Talks

What are you really worth? Americans used to save over 14% of what they made, but now Americans are hardly saving at all. Many people don’t feel they are worth anything, and hence they don’t save anything. This is tragic! How much should you save? Some say you should have enough saved to live on for 6 months, some say enough for 3 years. Both those options beat having just $500 like 50% of Americans, but are they right for you? Also on this show: If guaranteed policy values are based on a 4% return, and I you are paying 5% interest on a policy loan, are you only paying a net 1%? As you may...

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Investment Opportunities show art Investment Opportunities

Wealth Talks

If you’re interested in investment opportunities, take the time now to begin preparing and learning everything you can about the process. For example, if you think Real Estate investing and rental properties sound interesting, then learn about the state laws, the systems and templates that you would need to have in place for this type of investment/business venture. There are some great resources online for learning about state specific laws and getting actual templates that can help you in this type of venture. Checkout this example of a from iPropertyManagment. Learn about the different...

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Special guest George Gilder ... Will the economy ever return? show art Special guest George Gilder ... Will the economy ever return?

Wealth Talks

The economy is down, businesses are closed and people are left unemployed as the quarantine lockdown continues. Will the economy ever recover? Today on Wealth Talks, economist George Gilder joins Tom and John to talk about the economy, wealth and poverty. George Gilder has written many renown books on the economy, including Wealth and Poverty, a best seller with over a million sold and Life after Google, also a bestseller. You do not want to miss this episode. Listen Now! Resource Links:

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Annuities and SBA Loans show art Annuities and SBA Loans

Wealth Talks

Annuities can be good if you know how to use them. But what are some good strategies for using annuities? Today Tom and John explore different ways you can use annuities, and which ways make the most sense. Also on this episode, SBA loans. How long will it take to get one? What if I need the money before I can get the loan? Resources: Types of Life Insurance: YouTube LIVE with Campbell Jones Cohen CPAs

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What is the Economy? show art What is the Economy?

Wealth Talks

We all think we know what the economy is… but do we really? What is the origin of the word economy? What does it mean? Does it pertain to you as much as it does to me? Those are interesting questions. Here are some more: What is the Cost of a credit card? What is the Price? What about the Cost and the Price for a mortgage? How does that compare to life insurance? Listen Now to find the answers! Resources:

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Risk Tolerance... or Loss Aversion? show art Risk Tolerance... or Loss Aversion?

Wealth Talks

Risk Tolerance is a phrase that gets thrown around a lot in the typical financial world. is defined as the degree of variability in investment returns that you are willing to withstand. But this really doesn’t specify the amount of money you are willing to risk in order to possibly make a certain amount of money. In other words, how much money are you going to gamble with? Of course, just because you gamble with more and more money, that doesn’t mean you will make more, or even any, money in return. Sadly, it seems that many “risk tolerance” measures are just a new-fangled way of...

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The Corornavirus brings on a Black Swan show art The Corornavirus brings on a Black Swan

Wealth Talks

The market has plunged rapidly into a black swan, and a black swan is where typical financial planning fails. Typical financial planning tells you just to keep your money in, and let the market come back up. But many times, the best deals are to be found in times like these. If your money is all tied up, you are going to miss out. Traditional financial planning starts out by purchasing Whole Life Insurance, which is not tied to the market. When the market is in a time like this, your money is easily accessible to use for any opportunities that may arise. Sadly, many people who are losing money...

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Keep On Winning When You Win show art Keep On Winning When You Win

Wealth Talks

Some people have a big win followed by a devastating loss.  Sometimes the loss even nullifies the win.  Have you seen it? It’s the classic example of winning a battle but losing the war.

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More Episodes

How can you tell if you’re paying more in taxes than you should be? Can section 199A really give businesses a leg up? What about the Secure Act? Is Life Insurance really a good tool to leave a legacy?

 

Jack Cohen worked as an IRS Auditor for 33 years, In fact, he won the IRS Employee of the Year Award in 2006. Since then, Jack has switched the “black hat” for the “white hat”, helping people pay as little as they legally can in taxes.

 

Today he joins Tom and John on Wealth Talks to answer questions about section 199A, the Secure Act, and others. Also, he offers to review your tax returns so you can tell if you are losing money.

 

Don’t miss this Episode: Listen Now.