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The Justin Goodbread Show


Welcome to The Justin Goodbread Show, your ultimate source of inspiration, encouragement, and education for today's thriving business leaders. Join us as we embark on a journey to empower and uplift successful business owners like you. Get ready to uncover the insights, strategies, and stories that will propel you to even greater heights in the world of entrepreneurship. So, stay tuned, because on The Justin Goodbread Show, success is just a conversation away! While all the insights shared are for educational purposes, remember to seek advice from a professional regarding your unique circumstances. The Justin Goodbread show is a Financially Simple production.

Nov 30, 2020

In episode 316 of Financially Simple, Justin gives a concise list of 20 ways to reduce your tax bill.

As 2020 comes to a close, the time to figure out your taxes draws nearer. In this episode, Justin lists 20 ways to reduce your taxes, both as an individual and as a small business owner, from tax-free accounts to having a baby!

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TIME INDEX:

00:48 - 20 Ways to Reduce Your 2020 Taxes

01:46 - Retirement Account Contributions

03:09 - Tax-Loss Harvesting

03:43 - Tax Bunching

05:11 - Health Insurance

05:35 - Health Savings Account

06:16 - Flexible Spending Account

06:41 - Medical Expenses

07:16 - Budget Tracking

07:57 - Income Adjustments

08:45 - Business Deductions

09:13 - 529 Plan Contribution

09:39 - Lifetime Learning Credit

09:56 - Have a Baby

10:22 - Give to Charity

11:04 - Buy a House

11:50 - Property Reassessment

12:05 - Improve Home Energy Efficiency

12:30 - Buy a Car

12:51 - Move to a Lower Income Tax State

13:37 - Donor Advised Fund

14:27 - Summary

 

RESOURCES:

Financially Simple Educational Website

Financially Simple on YouTube

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NEW Book: The Ultimate Sale - A Financially Simple Guide to Selling Your Business for Maximum Profit

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BIO:

Justin A. Goodbread, CFP®, CEPA, CVGA, is a nationally recognized financial planner, business educator, wealth manager, author, speaker, and entrepreneur. He has 20+ years of experience teaching small business owners how to start, buy, grow, and sell businesses. He is a multi-year recipient of the Investopedia Top 100 Advisor and 2018 Exit Planning Institute’s Exit Planner Leader of the Year.

DISCLOSURES:
This podcast is distributed for informational purposes only. Statements made in the podcast are not to be construed as personalized investment or financial planning advice, may not be suitable for everyone, and should not be considered a solicitation to engage in any particular investment or planning strategy. Listeners should conduct their own review and exercise judgment or consult with their own professional financial advisor to see how the information contained in this podcast may apply to their own individual circumstances. All investing involves the risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Investment advisory services offered by WealthSource Partners, LLC. Neither WealthSource Partners, LLC nor its representatives provide legal or accounting advice. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WealthSource Partners, LLC. Statements made in this podcast are subject to change without notice. Neither WealthSource Partners, LLC nor its representatives, the podcast’s hosts, or its guests have an obligation to provide revised statements in the event of changed circumstances.

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

 

Advisors who wished to be ranked in Investopedia’s Top 100 Financial Advisors list either self-submitted answers to questions compiled by Investopedia or were nominated by peers.  Rankings were determined based on the number of followers and engagement on social media, primary contribution to professional industry websites, and their focus on financial literacy.  Neither performance nor client experience, however, were considered.  No compensation was paid by WealthSource Partners, LLC or Justin Goodbread to secure placement on Investopedia’s Top 100 Financial Advisors List.

 

The Exit Planning Institute's Leader of the Year is awarded to a nominee who is a CEPA credential holder who has made a significant impact or contribution to the exit planning profession or overall community through innovation and influence and is viewed by the Exit Planning Institute as a thought leader, risk-taker and specialist while showing characteristics of collaboration.

 

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