Oct 24 2024 23 mins 3
In this episode of the 'Retire Early Retire Now' podcast, host Hunter Kelly dives into advanced tax strategies for individuals and business owners, aimed at boosting wealth and financial stability. The episode covers an array of topics including the utilization of 401(k) plans, Health Savings Accounts (HSAs), and donor-advised funds, as well as strategies like tax loss harvesting and qualified charitable distributions for those over 75. Small business owners are advised on the benefits of electing S-corporation status and the Qualified Business Income (QBI) deduction, along with a focus on meticulous documentation and professional advice. The importance of long-term tax planning with the assistance of financial advisors is emphasized throughout. The episode wraps up with a teaser for next week's discussion on investments
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