October 2017

Tax reform was a key aspect of the current administration’s campaign platform. Earlier this fall, Republicans released a high-level version of the plan that proposes significant changes to the ways that individuals and businesses are taxed. A detailed version of the plan is not due to be released until Wednesday, November 1, but in this episode, we have a spirited discussion about what we know now and its possible impact on taxpayers. We also talk about the history of taxes in the US, how they work now and how we feel about them, and what we mean when we talk about tax reform. We hope that you enjoy listening to this episode as much as we enjoyed recording it.

While listening, it may help to have this handy explanation of how tax is calculated in mind:

INCOME – ADJUSTMENTS – EXEMPTIONS – DEDUCTIONS = TAXABLE INCOME * TAX RATES

As always, we want to hear from you: how do you feel about taxes? What are the things about taxes that you find the most confusing? How do you think the administration’s tax reform plan will impact you and/or your business? Let us know in the comments!

For articles and more information, check out the show notes under the cut. [Read more…] about The Financial Flipside Podcast, Episode 4: Is Tax Reform for Everyone? Unpacking the Republican Tax Plan

Entrepreneurs start businesses for a variety of reasons: seeing a great idea through to completion, challenging themselves, or very often, out of a desire to be their own boss. There is a lot to be said for the freedom and flexibility that comes with owning your own company, but how do you channel the thrill of entrepreneurship into a long-lasting, wealth-generating enterprise? That’s our subject for episode 3. We talk about the difference between having a job and having a business, as well as the connection between planning and doing what you love. We discuss specific ways to set your business up for longevity. Finally, we provide some resources for learning about enterprise building if you don’t have access to a business consultant, financial planner, or CPA.

Do you have finance or business questions that you’d like to have answered on the show? Contact us on Twitter, Facebook, via email

Note: We’re moving to Mondays! We will still be posting episodes every two weeks, so join us on October 23 for more real money talk.

Show notes are located under the cut.

Archives for October 2017

The Financial Flipside Podcast, Episode 4: Is Tax Reform for Everyone? Unpacking the Republican Tax Plan

Episode 3: What We Talk About When We Talk About Wealth, Part 2: Building a Business Enterprise