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Financial, tax and retirement planning guidance from Phil Putney. Each week Phil will talk about the keys to building a sound financial strategy that can survive throughout the ups and downs of the market. We'll have plenty of tax hacks along the way and other retirement facts!
 
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show series
 
Do you know the tax consequences on your retirement accounts? Today, we will be discussing 5 different types of accounts and the tax pros and cons with each. Read more and get additional financial information: https://philstaxhacks.com/podcast/ep-107-tax-consequences-pros-and-cons/ What we discuss today: 1:00 – Tax-deferred 3:11 – Tax-free accounts…
 
Micah Shilanski joins Steven on the podcast this week to talk about a recent experience his team had with a problematic tax return. Micah's team noticed some red flags and then sent the return to the RTS team for review. Keep listening to find out how they resolved the situation without ruffling any feathers.…
 
Everyone is different when it comes to risk tolerance. A lot of us think we are risk-averse, but we may be taking on more risk than we realize. On today’s episode, Phil is going to discuss risk aversion and how it affects our retirement plan. Read more and get additional financial information: https://philstaxhacks.com/podcast/what-is-risk-aversion…
 
Steven’s guest this week is Jamie Bosse, a CFP with Aspyre Wealth Partners. She’s an established author, having published articles and books on financial literacy. On this episode, Steven and Jamie discuss retirement tax planning for her clients, who are mostly young entrepreneurs.
 
Finances can cause a lot of stress for couples. However, planning together is crucial to your overall financial plan. On today’s episode, we will highlight a few areas that couples need to focus on as a team. Read more and get additional financial information: https://philstaxhacks.com/podcast/ep-105-financial-planning-as-a-couple/ What we discuss …
 
We all tend to procrastinate from time to time, even when it comes to our finances. However, there are many things that we don’t want to put off addressing in our financial plan. On today’s episode, Phil will discuss 5 financial decisions that people tend to put off and whether it is okay to do so. Read and get additional financial information: htt…
 
If the recent tax proposals were to pass, how would it affect your financial plan? Some things we may want to look out for include changes in capital gains and Roth conversions. Phil talks about who could be most impacted if these proposals became a reality. Read and get additional financial information: https://philstaxhacks.com/podcast/ep-103-wha…
 
Steven’s returning guest this week is advisor Matthew Jarvis of The Perfect IRA. Today’s topic is a combination of backdoor Roth contributions, IRS Form 8606, and the Pro Rata Rule. Are you interested in content that provides you with action steps that you can take to deliver massive tax value to your clients? Then you are going to love our powerfu…
 
There may be a few gaps that we might not notice when we are working on our retirement plan. So, to better prepare you for the future, we will be discussing some of the gaps you need to keep an eye out for and how you can address them. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-102-5-ways-to-mind-the…
 
Steven’s guest this week is advisor Thomas Kopelman, who just co-founded Allstreet Wealth. While many financial planners focus on retirees, Thomas’ niche is millennials. He often does tax planning for people whose income level is still on the rise. Are you interested in content that provides you with action steps that you can take to deliver massiv…
 
Are you worried you’re missing some red flags in your financial plan? Let’s talk through what you need to know and where you should better prepare. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-101-red-flags-in-your-financial-plan/ Watch the video podcast: https://youtu.be/-8SUd_vExGo What we discuss on…
 
Let’s talk about one of the primary benefits of aging: wisdom. Phil shares some of the key things to consider in order to make wise decisions as you age and near retirement. Read more and get additional financial information: https://philstaxhacks.com/podcast/ep-100-age-wisdom/ Watch the video podcast: https://youtu.be/-x5lDhWYZPw Key Points: 0:13 …
 
It’s Tax Q&A Friday and Steven has a question submitted by an advisor via LinkedIn. Jim asks if we’d do an episode on donor-advised funds (DAFs). The short answer is, “Yes, we’d be happy to.” Donor-advised funds aren't the only means of charitable giving but they have to be considered if a client is charitably-inclined.…
 
How can what’s happening this year shape our financial plans moving forward? We talk through several current events in the economy and what impact it could have on the future. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-99-breaking-down-economic-news-in-bits-and-pieces/ Watch the video podcast: https:…
 
Steven’s guest today is CFP Matthew Daugherty. They discuss how tax planning is possible, even with Compliance looking over your shoulder and how that relationship doesn't have to be adversarial. Are you interested in content that provides you with action steps that you can take to deliver massive tax value to your clients? Then you are going to lo…
 
To get to know Phil a bit more, we ask a few questions to find out how he got to where he is today. From his influences and hobbies to what he likes most about the job, today’s podcast is all about what makes Phil tick. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-98-what-makes-phil-tick/ Watch the vid…
 
Retirement is not one-size-fits-all. Just like your bank account, family size, job, and home, you have a number of factors to add up to create a unique situation. On today’s podcast we talk through some of the areas of your retirement that you need to make sure is decided based on your needs and goals. Read more and get additional financial resourc…
 
Instituted through the Affordable Care Act, the Premium Tax Credits is a shadow tax that must be considered when making recommendations. It can easily be missed unless one is looking for it beyond the client's marginal tax rate. Therefore, Steven is focused on illuminating the core aspects of this often overlooked shadow tax.…
 
The SECURE Act was passed in 2019, but is now facing possible amendments being added for the SECURE Act 2.0. On today’s episode of the podcast, we talk through these proposed changes and what that means for you. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-96-the-secure-act-2-0/ Watch the video podcast…
 
Child tax credit payments started rolling into American bank accounts in July of 2021. In fact, the IRS technically calls these “advanced child tax credit payments.” Congress's decision to prepay a portion is creating a risky situation for some, but Steven is not politicking for or against it. Instead, he wants financial advisors to be warned about…
 
Steven’s guest this Monday is financial advisor Ethan Pepper. Steven and Ethan discuss a client with a complicated tax situation: she is a dual citizen of the US and Italy, she's got multiple forms of equity compensation and she's recently sold a house in Italy. Are you interested in content that provides you with action steps that you can take to …
 
Steven’s guest for this Tax Q&A Friday is Taylor Schulte of The Stay Wealthy Podcast and Experiments In Advisor Marketing. Today’s episode answers another submitted question: When should you NOT recommend doing a Roth conversion? Are you interested in content that provides you with action steps that you can take to provide massive tax value to your…
 
There are a lot of things that don’t feel important, until you suddenly need them. What items do you need to be thinking about now, before it’s too late? On today’s podcast, Phil talks through the four things you want to take care of sooner rather than later. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/t…
 
There are many people who view tax forms, codes, and the IRS as almost other-dimensional. Lacking your familiarity, they consider these things utterly beyond their ability to grasp. Chances are high that some of your clients experience confusion, anxiety, and more. That’s why Steven’s focus today is de-fanging the experience Are you interested in c…
 
There’s more to financial advising and tax planning than selling your services. There’s more to marketing than just email, too. However, both are still important if you’re out to grow your practice. Steven's guest this week is James Pollard, host of the Financial Advisor Marketing podcast and he's here to bring you practical advise. Are you interes…
 
Steven’s returning guest this Tax Q&A Friday is Taylor Schulte of The Stay Wealthy Podcast and Experiments in Advisor Marketing. Today’s episode answers a submitted question: “I would like to know if Taylor’s ever recommended a Roth conversion, but then had a client decide not to do it because their tax preparer didn’t recommend it?" Are you intere…
 
Have you started daydreaming about what retirement looks like? Let’s talk today about what it takes to make that retirement dream a reality. Read more and get additional financial resources here: https://philstaxhacks.com/podcast Watch the video podcast: https://youtu.be/X7eECbIY9_A What we discuss on this episode: 0:45 - Summer time is vacation ti…
 
Steven’s topic today is somewhat controversial: Paypal co-founder Peter Thiel’s billion-dollar IRA. Steven’s not interested in politics. Instead, he’s been inspired to discuss how you, as an advisor, should use Roth accounts and clear expectations to deliver value to clients. Are you interested in content that provides you with action steps that yo…
 
Steven’s guest this Monday is advisor Carl Richards, also known as the Sketch Guy. He regularly advocates keeping financial advice simple enough to fit on a single page. Today, Steven and Carl discuss guiding clients through stormy times. Are you interested in content that provides you with action steps that you can take to provide massive tax valu…
 
On this episode of Tax Q&A Friday, Steven along with his guests Phillip and James are focusing on do-it-yourself tax preparation’s pitfalls. The question is “What do you typically see go wrong with clients who insist on preparing their own taxes?” Between Roth conversions and other strategies, there’s a lot that financial advisors may have to fix. …
 
How hard or easy is it to spend your retirement savings? On today’s show we talk about the process and how to get it right. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-93-5-things-to-know-about-decumulation/ Watch the video podcast: https://youtu.be/xzRUgJBaV-g What we discuss on this episode: 0:24 - …
 
Steven’s guests this Monday are Phillip Christenson and Jim Sexton of Phillip James Financial. Phillip, a CFA; and James, a CPA ,comprise an independent practice that provides both wealth management and tax preparation services. A professional advisor-accountant partnership isn’t run-of-the-mill. But the surprising part is how they got their practi…
 
Do you know your spending type? What about your spouse’s spending type? How does that impact your financial plan? Phil talks us through the different types and how they pair with others. Read more and get additional financial resources here: https://philstaxhacks.com/podcast/ep-92-what-kind-of-a-spender-are-you/ Watch the video podcast: https://you…
 
If you currently provide tax-related services—or you’re considering adding them—do your clients really understand what that means? When you tell people you provide tax planning, what exactly are you taking responsibility for? On today's episode Steven talks about the value of making sure that your client knows what you do, and then delivering on th…
 
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