What Are You Missing in Your Own Tax Planning?

On this week's episode we turn it on the taxpayer. We look at the habits, assumptions, and easy shortcuts that quietly cost people money.

Along the way: a client who rated us three out of five over a strategy that saved her $150,000, a man paying $780,000 a year in tax who said "it is what it is," and a state tax cliff that cut a family's charitable deduction in half.

Get in touch: https://www.revotaxpayer.com/?utm_source=revo-taxpayer&utm_medium=podcast&utm_campaign=s4e24-what-taxpayers-are-missing&utm_content=show-notes#contact-1

Take our 5 minute tax assessment: https://www.revotaxpayer.com/?utm_source=revo-taxpayer&utm_medium=podcast&utm_campaign=s4e24-what-taxpayers-are-missing&utm_content=show-notes#taxassistant

Chapters

[00:00] Truth with love — turning last week's episode on the taxpayer

[01:00] Why easy is expensive: $2,000 a year over thirty years

[04:20] The LLC that should have gone inside the S corp

[07:00] Don't assume your CPA is your advocate

[09:20] The Lamborghini, $2 million a year, and $780,000 in tax

[13:30] The tried and true: 401(k) match, HSAs, Trump accounts

[16:00] Bunching deductions, and the one-day timing difference