Dec 20, 2022
Racing to pay zero taxes is a race to the bottom and nobody wins. With the end of the year fast approaching, how can you minimize the amount of tax you’re paying for?
For today’s episode, Spencer Shaw and Kim Butler share the seven different tax-related strategies that people can use to reduce their taxable income. They caution against letting the tax tail wag the financial dog, meaning that people should not pursue tax benefits at the expense of their financial well-being. They also emphasize the importance of understanding opportunity costs when making decisions about taxes.
Best-selling author Kim Butler and Spencer Shaw show you how to take more control of your finances. Tune in to The Prosperity Podcast to learn more about Prosperity Thinkers thinking and strategies today!
Do you have a question you would like answered on the show? Please send it to us at hello@prosperitythinkers.com and we may answer it in an upcoming episode.
Links and Resources from this Episode
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Show Notes
- Paying zero taxes
- Different investments that can help with taxes
- Benefits and risks of tax-advantaged investments
- Should you contribute to your 401k?
- The seven best tax strategies for the end of the year
- Role of life insurance in your tax strategies
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