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Tipping Culture, Opportunity Zones, & Minimizing Taxes (8/17/2024)
Manage episode 435086497 series 3083349
Indhold leveret af Alec Kelso and The Real Money Pros. Alt podcastindhold inklusive episoder, grafik og podcastbeskrivelser uploades og leveres direkte af Alec Kelso and The Real Money Pros eller deres podcastplatformspartner. Hvis du mener, at nogen bruger dit ophavsretligt beskyttede værk uden din tilladelse, kan du følge processen beskrevet her https://da.player.fm/legal.
How much do you tip the waiter when they ask? On Saturday, we dove into the complexities of taxation for tipped employees, exploring whether tips should be taxed and how it impacts Social Security, FICA, and eligibility for tax credits and public assistance. We also discuss the potential benefits of investing in Opportunity Zones, areas designated for economic development that offer unique tax advantages for those looking to revitalize communities.
Our conversation then shifts to wealth-building strategies, unpacking how the wealthy leverage tools like Delaware Statutory Trusts (DSTs), Opportunity Zones, and 1031 exchanges to grow their wealth while minimizing taxes. Finally, we offer financial planning advice for young adults, focusing on the importance of starting early with a Roth IRA, building strong savings habits, and the value of mentorship in financial literacy.
Listen, Watch, Subscribe, Ask!
https://www.therealmoneypros.com
Hosts:
Brian Wiley
Alexandra Lundgren
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SPONSORS:
Guild Mortgage:
Ataraxis PEO
Tree City Advisors of Apollon:
https://www.treecityadvisors.com
Apollon Wealth Management:
https://apollonwealthmanagement.com/
Formations:
https://get.formationscorp.com/real-money-pros
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