THETAXPROBLEM.com
@THETAXPROBLEM
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Tax Debt Resolution & All Things Tax!
Northern California
Joined December 2014
Another 🔥 post!
If you ever want to turn off your employment income (permanently or otherwise), you need to be able to answer 7 questions to set yourself up for life: I spent the first 7 years of my career serving dozens of multi-millionaires approaching retirement or in retirement Whatever
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This.
If I was going deep on a full financial plan exercise for a client, I would request the following documentation Even just going through the exercise of *gathering* all of this information can be invaluable for financial housekeeping
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3/n And there will be a massive Wall Street marketing blitz plus an army of financial advisors looking to expose their clients to these #Bitcoin ETFs.
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2/n. This is huge in that people can buy the #Bitcoin ETF in their retirement accounts (401k, 453b, 457, IRA, etc.), pension funds can buy it, corporations can buy it, endowments, family offices, basically anyone and everyone.
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1/n 10 #Bitcoin ETFs (and one conversion) were approved today and will begin trading tomorrow!
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A pro-privacy🧵... 1/x Just listened to another CLE event on the #CTA (Corporate "Transparency" Act) & new rules taking effect 1/1/24. This new law is a DRAMATIC overreach & acute infringement on privacy. EVERY existing US LLC created for private or small business is impacted...
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Love FREEDOM. NOT a trumper (sucks it needs to be said): Give your life to surveillance and you’re FU*ked.
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The 1.35 Billion Powerball drawing isn’t until tomorrow night, but we already know the big winner - The Federal Government 🇺🇸
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Tax Planning (more importantly savings) are based on options - think of them as levers. Businesses have more “levers” than W2s. How are you using the “levers” to reduce the largest expense in your life (yes, taxes)?
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New mortgage math is brutal. Say you buy a $1M house with $200k down at a 7% rate ($800k mortgage). Monthly payment: $6,618/mo (mortgage, RE taxes, insurance) 18 months ago interest at 2.8%: Monthly payment: $4,615/mo Difference: $2,003
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If it’s not clear yet, this is what I think will happen soon. Every major tech company except Apple has announced their own LLM. Apple have spent years perfecting their on-device neural engine. Capable of some absolute insane operations. Loads of compute in a small and energy
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Looking for a tax service specifically designed for American expats? For simple situations look Taxes for Expats: https://t.co/b0KvSSWvNJ For complicated situations talk to @THETAXPROBLEM
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Your 401k/IRA is NOT insured in case of bank failure. Not sure who needs to hear this but there you have it. #bankrun #thetaxproblem #taxhelp
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11/ End of Life Directives: If you can’t make medical related decisions for yourself, who’s going to do it? You decide who if you plan for it. What will those decisions be? You decide if it’s in writing.
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10/ Durable Power of Attorney: Dictates who an act on your behalf if you’re ever incapacitated. Bill still need to be paid and decisions need to be made. Designate someone to handle this.
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9/ Stepped-up basis applies to real estate, stock, personal property, commodities but NOT retirement accounts – A LOT more to it but too much to list in email Valuable wealth preservation tool. Get it right.
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8/ Or if they sell at a later date, only pay tax on profits above in beyond $1.5 Million (if they don’t live in the property)
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7/ Example: Mom bought house in 1980 for $100k. Today it’s worth $1.5 Million. Beneficiaries/heirs will be treated as if they paid $1.5 Million, can immediately sell for $1.5 Million and pay ZERO in income tax.
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