Ep. 146 | The 3 Buckets of Tax Planning Implementations
Download MP3Hey, everybody. Welcome back to the podcast episode 146 today. We are gonna take a look at should say a deep look at those three buckets of tax planning implementations. So if you don't know what that is, we're about to define it. We're going to jump into it here in just a moment.
John Tripolsky:But as always, let's take a brief moment and thank our episode sponsor.
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John Tripolsky:Hey, everybody. We are back here again on the teaching tax flow podcast. Obviously, as you can tell if you're watching this, I may look a little disheveled. And, you know, I should say, oh, I forgot to shave, but I think I always forget to do that. Chris, remember to shave his head.
John Tripolsky:Beautiful, beautiful, stunning gentlemen. So we are coming off of an amazing time, I should say. Amazing's kind of an understatement, Chris, if if you echo that too. I mean, we just got back from taxposium, right, put on by the NATP. So you know what?
John Tripolsky:Here, let's do this. Let's take thirty seconds. Give us your thoughts on that event, what it is, and and what a fun time we got there.
Chris Picciurro, CPA:Absolutely. So this is our third visit to taxposium for you and I in teaching tax flow. It was an awesome event. And what taxposium is is it's a collection of usually about a thousand or 1,500 professionals. Most of them enrolled agents and CPAs.
Chris Picciurro, CPA:Most of them own tax and accounting firms, but pretty much all of them work in a firm at least. But vast majority are are firm owners put on by the National Association of Tax Professionals, which is a very large trade organization. The comp the taxposium, I mean, they and and NACP and many of the other professional organizations have a lot of educational opportunities, and this was definitely an educational opportunity. However, this conference is is a little different. And there is the educational component, but there's also the social and connection component as well.
Chris Picciurro, CPA:So they have a large trade show, and they have people, coming in from all over the country to connect, to network, to talk about technology, to talk about new trends in tax. With o b three, one beautiful bill, one big beautiful bill act passing a few weeks ago, It definitely changed a lot of things, and and and we had to pivot on some of our presentations. However, this yeah. This is our third one, John. We were this year was in Las Vegas in Caesar's Palace, so that was an honor, just personally to present there.
Chris Picciurro, CPA:I've had the, luck to present elsewhere in Vegas, but never at Caesars Palace. That was pretty sweet. And, and then it was previously in Orlando at the at the, was it the Dolphin and then in San Antonio? Honestly, I think San Antonio was my favorite out of the three so far. I really had a great time.
Chris Picciurro, CPA:They're always in the summer. We've we've been very fortunate. And and if you're part of our our tax pro meetup group and you're listening, thank you for watching. We have developed an amazing just I I don't know how to say it, John. I I don't wanna call it a posse, but just a really deep friend group that we enjoy being around each other.
Chris Picciurro, CPA:We hang out for meals, between sessions, and but it were very inviting. You know, we've we actually welcomed in a couple new people that this was the first taxposium and jumped in right with our group and and, had a great time. So it's it's an opportunity for, tax professionals and to to sharpen their skills, not just educationally, socially, and and to network. And and being your cohost of this podcast has always, provided us with a lot of opportunity. But I'm gonna tell you, a lot of the special guests that we have, they're either coming from one or two two places.
Chris Picciurro, CPA:One, there's someone that we've been working with in our private CPA firm for many years, integrated CPA group. Or two, it's someone that we met at a conference or maybe I've done been on a panel with or someone, something like that professionally that we've developed a relationship with, and and, to the level that that we'd feel comfortable with them speaking to our audience. And and many of these people are actually in the defeating taxes private Facebook group. So if you're not in there, defeatingtaxes.com. It's not just I'm not the only tax professional in there.
Chris Picciurro, CPA:There are tons of really qualified tax professionals.
John Tripolsky:Yeah. And being that there's a lot of taxpayers that are listening to this. Right? I promise you that your CPA or EA, basically your tax pro, was not trying to reenact the hangover movie while we were at Caesar's Palace. At least that we've seen.
John Tripolsky:So they behaved themselves. They got their they got their continuing education credits, learned some stuff, and you'll be seeing that soon. So, Chris, on this topic that we're gonna talk about today. Right? So we're we're jumping into those three buckets of tax planning implementation.
John Tripolsky:So I I kinda emphasize that. Implementations. Right? Like, that's the that's the keyword here. Sure.
John Tripolsky:Buckets are important, and there's three, whatever, in tax planning. So let's start this off, actually. Let's go back some time. You know, we kinda need maybe we had some music or something in here.
Chris Picciurro, CPA:You know?
John Tripolsky:It's a time traveling way back when
Chris Picciurro, CPA:Bill and Ted's excellent adventure. Or or we could do a little we
John Tripolsky:could do a little Wayne's World. Oh, that's a good movie too, man. Oh, now we're talking about the hang the hangover movie. Bill and yeah. There's a lot going on here.
John Tripolsky:So let's define for a lot of people that may not know what it is. I mean, I'm sure tax planning. Right? You everybody can kinda take a guess at what it is. Right?
John Tripolsky:It's planning, taxes, yada yada yada. But that's something that you and your firm I mean, you personally, over recent years more than ever have really shifted into because a lot of people aren't doing it because they think it's completely out of touch. So maybe let's start off. Define that for us a little bit, and then we'll get into, you know, the buckets of the implementations and what those implementations actually look like. And I would say first base.
Chris Picciurro, CPA:Yeah. We've been analogy. We've been leading for over a decade in our private CPA practice with tax planning and strategy. We obviously work with clients on what we call tax compliance work. I'm gonna define that difference for you in a moment.
Chris Picciurro, CPA:We've we've been doing tax compliance work for over well over twenty years. But we've been focusing on leading, like I said, with tax planning and strategy, and so over for over a decade. I would say over the last five to six years, more tax professionals are embracing the tax planning and strategy. And, actually, John, one of the one of the presentations that that we did in Las Vegas was focused on looking at a ten forty, looking at the four core schedules of a ten forty, which are schedule a, schedule c, schedule e, and schedule d, and finding opportunities within that. So this is not just something that, hey.
Chris Picciurro, CPA:Sounds good. And and this has really come to the forefront of our of our industry, especially with the fact that we are losing a lot of people in our industry, to to retirement, quite frankly. So we've gotta deeper those client relationships as tax professionals, and we've gotta move over from just tax compliance to tax planning. Now tax planning, you're gonna hail you're gonna hear tax planning, tax strategy, all these little buzzwords, and it's tough because these are all intangible things. Right?
Chris Picciurro, CPA:It's hard to you know, it's like retirement planning. Okay. Well, what you know, what's the well, your four zero one k is part of a retirement plan, But if your four zero one k or your house is not the retirement plan, if that makes sense. So here's here's my definition of it. Tax tax compliance is the function of reporting things that have already occurred.
Chris Picciurro, CPA:Now that could be a tax returns prepared, and all it's doing is reporting all the activities that was that were done before that reporting cycle. So a 2024 form ten forty, which is a personal tax return, is reporting to the government all of the things that that taxpayer did during 2024. It's looking back. Now there are some tight there are some implementations which we're gonna talk about that you could still do in 2025 and count for 2024, but, ultimately, 2020 that tax return is is activity for 2024. If you, let's say you're filing payroll tax returns with the government.
Chris Picciurro, CPA:It's called a nine forty one. That's just reporting to the government all of the payroll that was run for a company in the past. So when you think about tax preparation, we don't love the term tax preparation or tax season in a private practice, but we'd look at that as tax compliance work. Anything that has, again, occurred in the past, You could even look at that, bring it into the financial world. You could have an like, pretty much every city or municipality has an audit.
Chris Picciurro, CPA:Or and that's just looking at the last the previous activity and putting it into a financial statement. So tax planning is everything looking forward. Okay? So when you're with tax compliance is looking backward, looking forward. So when it comes to making decisions are part of your tax plan.
Chris Picciurro, CPA:If you're an individual, and it could be on the individual level, such as should I buy a primary residence? Should I buy a rental property? Should I invest in a Roth? Should I put my money into a traditional IRA? Should I convert?
Chris Picciurro, CPA:Should I buy a new vehicle? Should I lease a new vehicle? All especially for business owners. What type of entity should I consider? All the woulda, coulda, shouldas, all the things looking forward is my definition of tax planning.
John Tripolsky:And when you do that too, it's a couple things there that that I'll point out too, and then I'll reference some other many conversations that we've had around this as, you know, it's it's basically the the windshield and the rearview mirror analogy. Right? Like, the windshield, it's it's very, very wide open. Everything is in front of you. Things are moving around.
John Tripolsky:Right? You're passing by things. That's the planning perspective. The compliance or the tax preparation, I say it lightly, and I'm about 800 miles away from you so I can say these words. Right?
John Tripolsky:There are you know, you look back. It's a very, very small vantage point. It's very defined. You know? Here's the outline of your rear view mirror.
John Tripolsky:Everything's behind you. It's moving much slower. It's static. It's done. It's set.
John Tripolsky:K. What I really like about tax planning and and and full transparency. Right? Like, you've been doing this a while. I've known you for two and a half decades.
Chris Picciurro, CPA:Mhmm.
John Tripolsky:I can't wait till we've known each other three decades. Like, that's that's a good number.
Chris Picciurro, CPA:Oh, man.
John Tripolsky:I'm gonna be
Chris Picciurro, CPA:really old.
John Tripolsky:I'll always be younger than you, though.
Chris Picciurro, CPA:I know.
John Tripolsky:That's something that's never gonna change. They're but with this whole planning things, right, tax planning, there's so much power to it because I didn't even know so many things you can actually control. Like, I remember one of our earlier podcasts. I think we may have done one, you know, about owning the relationship that you have with the IRS, and some people may say, well, what the, you know, what the heck are you talking about? Like, they send me a bill.
John Tripolsky:I pay it. What do you mean I owe the own the relationship or can? And we're gonna get into these things. Right? It's having having the knowledge, having the partners, having the people, the resources.
John Tripolsky:It helps guide your decisions that you make. I mean, sure. As everybody goes into business or anything, you know, right out of the gate, you look at it as, alright. Great. I can expense this.
John Tripolsky:Blah. You know? Blah. Blah. This is a deduction.
John Tripolsky:This is an deduction. You feel like that's it. But even if you're not in business, you know, you're not if you're not self employed, there's a lot of crap you can do. I should and you shouldn't say crap, but you have to have the right people to do it. Right?
Chris Picciurro, CPA:Exactly. You it's a team approach. And that's what's confusing about tax planning. And so one of the things we've done at teaching tax flow, excuse me, is we have taken things and systemize them and categorize them because it's very overwhelming and confusing. Know just like if someone said, hey I don't, I'm sick.
Chris Picciurro, CPA:Oh my, okay, are your symptoms? Why are you saying you're sick? You know, it could be something like I've had a it could be a variety of things. Or like, I can't get out of bed. Okay.
Chris Picciurro, CPA:Did you break you know, is it did you break your leg? Are you have a flu? Do you have you know, what's going on here? So, yeah, so within teaching tax flow, we have a we have a proprietary system where we where where we work through four steps of tax planning. And I like your analogy about the rearview mirror.
Chris Picciurro, CPA:Like, we can't change what we we just drove through. We can learn from it, and we can say, you know what? That was pretty darn good. Like, think about going on a road trip. You come down to Nashville quite a bit.
Chris Picciurro, CPA:You know, you fly a lot. Sometimes you drive. There's certain times of the day you wanna leave for a long trip. There's certain times of the day that you don't. So no learning from that.
Chris Picciurro, CPA:And then we also know and we talk about a lot is that ideas are cheap, implementation's valuable. So just because someone's on and, again, we have a we we have content on TikTok and Instagram, so I'm not bad. I'm not saying that that's a bad thing, but many times, that type of advice is misapplied to, to someone's situation. So ideas are cheap. What's important is implementation, but even implement tax planning implementations sometimes can be confusing.
Chris Picciurro, CPA:So we so that's where we really broke it down, and and all this experience is really coming from our private CPA practice. And part of our mission and passion is to share it with as many people as possible. And I hope, you know, if you're listening to this or watching this, that that you are doing some type of tax planning and implementation. But even more than that, if you've never been exposed to tax planning, you're the type of audience we wanna touch as well. We want to get this out there.
Chris Picciurro, CPA:So because it get but it is vague. Right? Sometimes we say, oh, tax planning. Okay. Well, let's talk about this.
Chris Picciurro, CPA:Implementations. We've we've determined that implementations for tax planning come in three different buckets. I like the bucket approach or categories, you could say. And one of the laws of teaching tax flow is that cash flow and tax flow are different things. Cash flow is money that came in or out of your pocket.
Chris Picciurro, CPA:Tax flow is your after tax or tax benefit or tax burden of your decisions. So each of these buckets, we've identified a level of cash flow, a level of tax flow, meaning tax reduction or tax benefit, and duration. Is this a strategy or something that you're gonna do or an implementation rather that is year by year, or is it a long time long time duration? So and we'll I'll give you an example of each, strategy in each of these buckets as we go along. So, yeah, let's start off with the most basic bucket.
John Tripolsky:I'm sorry. And it is really good too. You mentioned, you know, tidbits, Like, we're on social. We have content out there. Some of it too, it's I feel, and I know we've talked about this as not all of it is incorrect information.
John Tripolsky:There's a lot of it out there that's just often la la land. But if you don't actually see it all the way through or don't know about it all the way through, you only know a little bit of it, it can get you in a lot of trouble. Absolutely. Basically misrepresented. Right?
John Tripolsky:I mean, I and I would say, Chris, tell me if if I'm wrong on this one. Probably the number one and the number two that I see is in you know what? I'm never gonna say them because I know you're gonna talk about anywhere. I'm not gonna steal your thunder, but there is a lot of stuff out there. AKA don't listen to a TikTok and pay your kids and buy a truck.
John Tripolsky:Two things.
Chris Picciurro, CPA:Right. Exactly. I mean
John Tripolsky:Here we go.
Chris Picciurro, CPA:The the point you have is you're using tax planning implementations is kinda like playing you know, kinda like having you know, fireworks. They're beautiful, but you have to light them properly. Right? So having the wrong implementation partner could make you worse off than if you did nothing, actually.
John Tripolsky:That's a great you know, we need to do, like, an animation of that, like, lighting things at the on the wrong end.
Chris Picciurro, CPA:Like Absolutely. What kind of what kind
John Tripolsky:of explosive thing that would be? So It's okay.
Chris Picciurro, CPA:Planning implementations, many times you need what are called implementation partners to make this happen. If if that's you and you you some of this might sound like, gosh. I should be should be doing this. I don't know where to start. We've got a solution for you.
Chris Picciurro, CPA:John, you you know it well because you designed it, actually. Go to our hub, teaching tax law. Think it's .combackslashhub. I'm sure you could put a link to that in the in the show notes and reach out. We are very diligent part again, part of going to the events of the world and some of our other things we do is to make sure that we are vetting and working with the proper implementation partners.
Chris Picciurro, CPA:And that could be something as easy as, like you just mentioned, John, putting let let's start with behavior. Okay? Let's let's start with that, and we're gonna we're gonna bring home your example. John, you actually have some good examples and analogies today. Sometimes you're out in left field.
John Tripolsky:You know what? I'll I'll I'll take it when they come in, man. That's, you know, like, we're talking we started this episode off talking about taxposium. I love going to these because everybody knows, I say it all the time, like, I'm not a tax pro. I'm not.
John Tripolsky:We'll we'll say, like, I bet I don't even know what to call myself. It's like a tax, I don't know, sponge or something. Although, you know, I will say this to a couple members of our mastermind group, gave me a really, really good compliment this week, and they said, you know what? Because I I thought I said something. I was like, oh, you know, I don't know I don't know Jack about taxes.
John Tripolsky:I'm like, I'm the dumb guy here. And then I start I don't know. I followed it up with something. They go, you know what? You actually probably know more than you give yourself credit for.
John Tripolsky:So, I mean, I I think that's like a a a true testament to teaching tax flow. Right? Like, everything and this sounds like an advertisement, but it's true. If any somebody's just chiming into this is, you know, a lot of this stuff we're taking, which is very, very detailed, very, very intimidating, like, high level stuff, and we break it down. And that's really because I think that's, like, the the glorious thing about our relationship.
John Tripolsky:Right? As you get too far in the leads, I, like, throw a rock at you and bring you back to the the real world for the the average Joe. And then we, you know, we trek along back into it, which this is probably the best example of we could go deep or we can stay very high level Right. On a lot of this stuff. Right?
Chris Picciurro, CPA:Yeah. So so think about these buckets, tax planning implementation. In that first bucket is what we call behavioral. So this is something that when we think about the cash flow, meaning how much money is going out of your pocket or your net worth to make this happen? And it's gonna be none.
Chris Picciurro, CPA:Okay? What's the tax flow effect? It's usually a bit little low to medium tax benefit relatively. Still pretty good. Right?
Chris Picciurro, CPA:If no cash is going out and you've got a tax benefit, that's pretty good. What's the duration? Year to year. So I'll give you a couple examples of this. Again, diagnose, prescribe.
Chris Picciurro, CPA:Right? But you look at should should I put money into my retirement account? You know, should I fund my should I put money into an I r an IRA? Or should I sure. Is it is it gonna like, you still own the IRA or the money was in your brokerage account, so maybe it doesn't really cost you anything.
Chris Picciurro, CPA:You still own that IRA. Mhmm. It's not like you purchased a vehicle, and you drove it off the lot and it went down in value. Is there a tax benefit? Yeah.
Chris Picciurro, CPA:There's a tax benefit, either a Roth or a traditional. There are different types of benefits. What's the duration? Year to year. Okay.
Chris Picciurro, CPA:I could put money into my Roth this year, not put it in the next year. I could do it the year after that. Those are and another example would be paying your children. Right? Should I pay my children if they're doing now we have a you know, We have other content on there.
Chris Picciurro, CPA:We wanna make sure that you're paying your children reasonable compensation for what they're doing. But, ultimately, the money is not leaving your household. Right? It's not leaving your household. So there's really no cash flow and there's a tax benefit.
Chris Picciurro, CPA:Not a big huge tax benefit, you're getting out of a higher marginal tax rate into a lower none, and it's a year to year. Maybe this year, my child works for me. Maybe the next year that child didn't work me. And so that's and those are example of behavioral tax planning implementations. I'll give you one more health savings account contribution.
Chris Picciurro, CPA:Right? So it's now that you put money in a health savings account, and it's not your account. That's your account. And as long as it's used properly, it's the growth and income's tax free. So in part of, like, you're saying, John, part of the implementation partners is, hey.
Chris Picciurro, CPA:I've got a okay. I'm thinking that I should hire a family member. Great. I don't know where to start. Part of the teaching tax flow, we obviously, we had a we had a whole episode on modern payroll with the folks at Gusto, but let's get let's get you set up with them.
Chris Picciurro, CPA:You know, they're you know, they're typically are gonna gonna get really well taken care of no matter what, but especially if you're part of the teaching taxable community. They might even offer some type of promotional code to that's for our for our community members. So, again, that that's just an example of those behavioral tax planning implementations.
John Tripolsky:And I'm glad you brought up that one specifically. Right? Because that really is a great example that, I mean, if I just had to think of a random number, I'd you know, well, I will say, like, 78 and a half percent of people. When you hear, oh, you know, I should pay my kids or or pay a family member, whatever it is, they probably think of it as either, oh, you know, I could just give them cash, but, you know, I wanna do it legit, so I'm gonna write them a check, which still is not the right way to do it. Right?
John Tripolsky:Like, you have to go they have to be put on payroll. Correct? It's not as simple as I sure sure. Treating them like a $10.99. So that's one I think that is very, very, very rarely explained all the way through, especially in a TikTok video or something.
Chris Picciurro, CPA:Absolutely. Absolutely. There's a there's a there's a again, it comes down to the right implementation partners to make sure you get the best result possible, and that would include company that processes payroll. So those
John Tripolsky:those And we'll put in that one, we're gonna put some links in the show notes to the episodes on those because that's a whole whole another discussion.
Chris Picciurro, CPA:Well, you're gonna like this because my examples for the next two buckets will also we also have content episodes on. So the second one, second bucket would be a tax advantaged investment. Now I'm gonna before I jump into this, I wanna let people know. Just like tax strategies, don't like to be single. They they like to they like to mingle.
Chris Picciurro, CPA:They like to jingle. They like to be blended and stacked. Okay? You could we have clients that utilize all three buckets of tax planning implementations in one year. It's they they're not think about it like tires on a on more on a on a three wheeler motorcycle.
Chris Picciurro, CPA:I guess you wouldn't call that a real motorcycle, the the the hardcore people. But they're tires. You don't if one tire needs to be inflated, it doesn't mean you inflate the other two. Right? You just fix that one.
Chris Picciurro, CPA:So they could be utilized I know it's a bad analogy because I'm not I'm not a motorcycle and car guy like you are, John, so that's why you're but you could utilize it's not all or nothing in each bucket. Let's put it that way. So tax advantage investments, typically, their cash flow is going to be higher. Right? Typically higher, which is usually over a $100,000 to be involved in one of these type of investments.
Chris Picciurro, CPA:Usually, you're going to be something called an accredited investor. The tax flow is typically medium. So in general, you know, if you you were to partake in a tax advantage investment that gave you an immediate deduction on your tax return that you're able to take, you're probably gonna see about a 30 to 35% tax reduction or deduction that first year. So that's that's pretty significant. Right?
Chris Picciurro, CPA:That
John Tripolsky:which I would say that's
Chris Picciurro, CPA:cash flow is still more than the tax flow. Right? The you're still laying you're still putting a $100,000 into an investment and getting a $3,035,000 dollar immediate tax deduction tax benefit year one, but you still own the investment. Go ahead, John.
John Tripolsky:I'm sorry. And when we're and when we're talking about these, I mean, that literally is, I mean, owning the relationship. Right? Like, you're not giving a bill at that point. You know what the bill's gonna be.
John Tripolsky:I mean, if you plan for it, you could forecast and say, I know exactly what I'm gonna owe. Right. And no surprises.
Chris Picciurro, CPA:So you've got so so it's a tax so you've got high cash flow, medium tax flow. The duration is long term, which is actually good. So some of these this might be an investment, and we always say don't let the tax tail wag the dog, but it could be something that you own for, you know, between seven and fifteen years. A quick example, which is a podcast episode that we that we have, was talking through investing in oil and gas. Now, obviously, speak with your financial adviser about this.
Chris Picciurro, CPA:We're not suggesting this at this point. We have but we do have a podcast episode specifically on that topic. That is just an example of a tax advantaged investment. So there are several out there. So that's that's the second bucket.
Chris Picciurro, CPA:And third, final, is a tax mitigation strategy as our third tax planning implementation. The cash flow is typically low to medium, right, about a $50,000 minimum, but your tax flow or your tax reduction is very high. You know, in that case, probably 75 to $80,000 on a tax reduction on that type of investment. And the duration is one time. A great example of a tax mitigation strategy would be leveraged charitable giving, which we have a podcast episode on.
Chris Picciurro, CPA:Yeah. We're not suggested suggesting you would do that. It's an example of a tax mitigation strategy. And as you could see, we have clients in our private CPA firm that utilize all three buckets, and they all have their place in understanding that duration. Because remember, not all tax deductions have to come in year one is very important.
John Tripolsky:Right. Absolutely. Absolutely. And, Chris, these ones before we kinda wrap this up here too, when did it dawn on you? I know we talked about a little bit that you're like, you know what?
John Tripolsky:We need to make this into buckets so people understand
Chris Picciurro, CPA:these things.
John Tripolsky:Like, did you have, like, an moment on the pickleball court?
Chris Picciurro, CPA:Okay. So I don't really get I never get moments on the pickleball court because it's too it's thanks for bringing it up too, though. By the way, little chat taxposium shout out. I one of the presentations we were doing, I asked the audience, tell me a place you find a lot of clients. That a guy spouted out the pickleball court.
Chris Picciurro, CPA:Mhmm. Then about
John Tripolsky:I heard it.
Chris Picciurro, CPA:About about 200 or so people had to listen to me and him talk about paddles for a minute or so on our president, then we moved on. But I wasn't on the pickleball court, but it was it was probably about November, like, 2024. I and these things come to me when I'm out for a run or walk, typically. So yep. And then it really just started diving into, like, okay.
Chris Picciurro, CPA:How do I it all comes from and and I know this sounds corny. It comes from you, the listener, the watcher. It comes from you, people that I'm working with on tax planning and strategy, because I'm constantly trying to figure out easier ways to explain these things that that are digestible and understandable. So that's that's where it comes from. And, yeah, just like people were defeating Tackler's group.
John Tripolsky:I was just gonna say, and and that group, I think, is is great because just the messages we get from people. And, I mean, even if it's as simple as somebody messaging us saying, hey. You know, can you elaborate more? Can you explain more? And it always leads to something, which is great.
John Tripolsky:And sometimes, I mean, again, being the, quote, unquote, a non tax pro in the room usually, I love seeing those because half the time I mean, me and Chris, we spend endless hours working on this stuff on a on a weekly basis, and sometimes I forget her or I kinda let him get into the weeds too far. So, collectively, let's let's reel him back out of this thing. But thanks for going into this, man. I I appreciate it. I I always love, you know, getting into specifics on some of these things.
John Tripolsky:But then also too, taking something that that is perceived as such it's obviously high value, but, like, you know, oh, it's out of reach for so many people and bringing it back down and diving into it and separating it out, I think, is is very, very important, obviously. So
Chris Picciurro, CPA:I'd say, hey. We'd we'd love to hear from you. If if you have a comment, let us know what your favorite tax planning implementation is. And that'd that'd be great to hear, and if we don't have a content on it, we'll make some.
John Tripolsky:That's the fun part. Keep us busy. Keep us busy coming up with stuff. And I'll put it out there too. So taxpayers, taxpayer only, send us questions we have on this, but also tax pros, CPAs, EAs, anybody that's dealing with this stuff.
John Tripolsky:We'd love to hear from you too. I mean, obviously, if if you don't feel comfortable putting it
Chris Picciurro, CPA:out there, you know, in the
John Tripolsky:public eye in these groups, send us a message. We love we love hearing it. And just, you know, hearing your take on some of these, I think, is is also great, great feedback we get from all this. So as Chris had mentioned to anybody that's listening to this, I'll add shame on you. You should be watching it.
John Tripolsky:But if you're not, it's okay listening to it.
Chris Picciurro, CPA:It's fine. Even just put
John Tripolsky:it on the background. But more importantly, also subscribe to the YouTube channel that we get the notifications when these do drop. Obviously, we're creeping up on a 150 episodes of doing them weekly. So if you are still with us, we appreciate it. Hopefully, the content's gotten a little bit better.
John Tripolsky:Don't go back and listen to, like, one through 20. If you do, you know, the equipment sucked. Let's be honest. We we were so focused on getting it out there. We're like, oh, we'll deal with details later.
John Tripolsky:Great content, but the delivery tweaked a little bit, obviously, around the episode. Actually, I think at episode a 100, we went to video. So, obviously, you won't find video before that. But check out the stuff. Let us know what you think.
John Tripolsky:Share with a friend, family member, colleague, anybody you think of. Hey. Go up to somebody on the streets, step them on the shoulder, and say, hey. I got a great podcast for you and see what they say. If they don't punch you in the throat, hey.
John Tripolsky:Maybe it'll thank you. But check it out. Stay in touch with us. We love it, and we will see everybody back here again next week as we do creep towards that episode one fifty. Show notes, obviously, as I'm pointing down there off to the side.
John Tripolsky:Lots of links, resources. Follow those. Don't be lazy. As I started saying a while back, they're right there in front of you, and we'll see everybody back here again next week. Different date on the calendar.
John Tripolsky:Completely different topic. See everybody soon.
Disclaimer:Advice from your financial professional. For all tax and legal advice, please consult your CPA or attorney. Investment advisory services are offered through Cabin Advisors, a registered investment advisor. Securities are offered through Cabin Securities, a registered broker The content of this podcast does not constitute an offer of securities. Offerings can only be made through an offering memorandum, and you should carefully examine the risk factors and other information contained in the memorandum.
