E56: Avoid These End of The Year Tax Misconceptions

We discuss two end of year tax strategy misconceptions that you should avoid. We'll also deep dive on how to think big picture when you're making your tax plan.

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Sometimes, our well-meaning accountants make strategy suggestions. However, these suggestions may not feel quite right. This unease is especially true when you take the long view on your tax planning and question whether what you're doing is a tax saving or merely a tax deferment.

Join us as we explore two tax misconceptions that could end up costing you big money in the future.

Topics Discussed:

• What to do when your not in agreement with your accountant
• When retirement plans create big tax misconceptions
• The reality of tax saving vs. tax deferment
• Using empirical data from the past to hedge bets on likely tax hikes in the future
• Taking a big picture long view of taxes rather than a short-term view
• The folly of the year-end "big spend" needlessly to save a little business owner's strategy

Episode Resources:

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* What is Infinite Banking? We make it simple in this article https://livingwealth.com/infinite-banking/

* Who was Nelson Nash? Find out in this article https://livingwealth.com/who-is-nelson-nash/