Skip to site content
The Show

The Tax Smart Way to Better the World

In this weeks Financial Chaos Topic we discuss the following:

A Creative Way to Give and Avoid Taxes at the Same Time
If you give money to your church and other charitable groups and have appreciated mutual funds, stocks, or other holdings you need to check out this recent press release from Fidelity. Fidelity Lowers Minimums to their Charitable Gift Fund

If you are Charitable and Sick that the Government makes you take taxable RMD from your Retirement Accounts (read this)
The Pension Protection Act of 2006 included some great new opportunities for charitable giving. Generous individuals over 70.5 can now give to their favorite charitable organization from their IRAs and the gifts count towards their required minimum distribution (RMD). There is no charitable income tax deduction, but also no inclusion for taxes. By making a gift to charity from your IRA you can lower or meet the required minimum distribution for that year. This allows you to accomplish your charitable goals and reduce your tax liability.

Wesley Snipes joins the ranks of Willie Nelson and other not so tax smart celebrities. Don’t mess with the only organization that can show up and just take your stuff!
Talking about surrounding yourself with yes men. Wesley Snipes has been indicted for an insane tax scheme. Somehow Wesley thought that he could make $19 million in 1997 and not pay any taxes. The Smoking Gun

Enjoy the Show?

Categories

Where You Can Watch and Listen:

Subscribe on these platforms or wherever you listen to podcasts for new episodes every Friday, live streams every Tuesday at 10am CT, and new highlight clips throughout the week.

Related Content

Free Resources

Financial Order of Operations®: Maximize Your Army of Dollar Bills!

Here are the 9 steps you’ve been waiting for Building wealth is simple when you know what to do and…

View Resource

Wealth Multiplier By Age

How much to save every month to become a millionaire.

View Resource

Car Buying Checklist

Here’s how to buy a dependable car that won’t break the bank.

View Resource

Articles

Exclusive Sneak Peek of Millionaire Mission by Brian Preston

, ,

Read More

The Wait is Over…

, ,

Read More

Can This Annuity DESTROY Your Retirement?

, ,

Read More

Financial FAQs

Courses & Tools

How about more sense and more money?

Check for blindspots and shift into the financial fast-lane. Join a community of like minded Financial Mutants as we accelerate our wealth building process and have fun while doing it.

https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-book.png

Millionaire Mission (Brian’s Book)

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-math.png

Know Your Number Course

Buy Now
https://moneyguy.com/wp-content/uploads/2023/10/accent-icon-pencil.png

The Money Guy Net Worth Tool

Buy Now

Recent Episodes

It's like finding some change in the couch cushions.

Watch or listen every week to learn and apply financial strategies to grow your wealth and live your best life.

Tightwad QA

Does Investing Over 25% Make You a Tightwad?

Watch Now
Dave Meyer Thumbnail

Should You Worry About a Housing Crash in 2024? with Dave Meyer of BiggerPockets

Watch Now
1000 QA

X% of Americans Don’t Have $1,000! (Shocking Stat)

Watch Now