What should you know about the tax law changes for 2025 and 2026? In this episode of Friends Talk Financial Planning, John and Bridget discuss the new tax law changes that you should be aware of for the final quarter of 2025 and the entirety of 2026. There are numerous tax planning strategies to consider at this time of year, especially given the recent tax law changes. Don’t miss this opportunity to learn how you can make the most of these changes! Key Tax Law Changes to Con

In this episode of Friends Talk Financial Planning, we talk about some ways that the wealthy use to pay less taxes. Whether or not you have millions of dollars in the bank, these strategies could still help you lower your tax bill in the future! Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook.com/friendstalkfinancialplanning TRANSCRIPT: Bridget:  Well, y

Major changes to charitable giving tax laws are reshaping how donations impact your taxes. In this video, we break down the latest rules, limits, and strategies every donor needs to understand. You’ll learn how these updates affect deductions, required documentation, and tax planning for individuals and businesses. We’ll also cover common mistakes to avoid and how to maximize the impact of your giving under the new rules. Resources: - Alliance of Comprehensive Planners:..

Let’s talk about the new changes to your taxes and retirement after Trump’s recent tax bill. We’ll cover the important changes, including adjustments to tax brackets and tax deductions. Whether you’re retired or still planning for it, understanding these updates can help you make smarter financial decisions. Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org - John's firm website: https://www.trinfin.com - Find us on Facebook: https://www.facebook

In this video, we discuss the hidden tax pitfalls of annuities, which we describe as a “ticking tax time bomb.” While annuities are often marketed for their tax-deferred growth, they can become costly later because withdrawals are taxed as ordinary income rather than at lower capital gains rates. For example, a client who invested $50,000 decades ago saw it grow to $1 million. Now, nearly all of that gain is subject to income tax—potentially at rates of 22% or higher—whereas

This week our conversation is all about 4 common mistakes when gifting money to kids. Listen today so you don't make these same mistakes! 1. Giving Too Much Money: It's important to avoid giving away more than you can afford, especially if it risks your own financial security. Only give money beyond what is necessary for your lifestyle and future needs, typically when you're confident that your wealth will last through retirement, which will usually occur in your late 70s or

Inheriting an IRA can be overwhelming, especially with the recent changes in tax laws. In this episode, Bridget and John break down the four essential things you need to know about inheriting an IRA. From understanding the new 10-year rule to tax-saving strategies, we cover it all. Make sure to watch until the end for valuable insights and tips! Resources: - Alliance of Comprehensive Planners: https://www.acplanners.org Follow Us: - John Scheer’s Practice: https://www.trinf

Should you loan or give money to friends and family? It's a common dilemma, and today, Bridget and John dive into the best practices for making these financial decisions. We'll cover how to balance your own budgeting with helping others, setting up specific savings for lending, and determining when it's appropriate to give or loan money. Make financially sound choices while supporting your loved ones! 4 Tips for loaning money to friends & family: https://youtu.be/FaI7pcGkjdI

Join Bridget and John as they dive into the intriguing topic of "Rich Tax vs. Poor Tax" in this informative episode. Discover how the tax strategies and concerns differ between wealthier individuals and those with less income. Whether you're interested in maximizing your after-tax income or understanding more about tax planning and deductions, this episode has valuable insights for everyone. Remember to subscribe to our channel for more financial advice and insights. John's

In this episode of Friends Talk Financial Planning, John and Bridget address a viewer's question, breaking down the differences between required minimum distribution (RMD) and qualified charitable distributions (QCD). They unravel the connection between these two concepts and providing valuable insights into how they can impact your taxes and charitable giving in later life. If you've ever been confused about these financial terms, this episode offers clear explanations a

In this episode, John and Bridget discuss all things Donor Advised Funds (DAFs) and Qualified Charitable Distributions (QCDs) and how to decide which strategy to use when making charitable contributions. They break down the highlights and mechanics of each option and provide insightful tips on making the best choice based on your specific situation. Check out our previous episodes on DAFs! Basics about Donor-Advised Funds: https://youtu.be/g7jbhnLcNDw How to maximize your

In this episode of FTFP, John and Bridget dive into the advanced strategies of using donor-advised funds for charitable giving and tax planning. They discuss the concept of "bunching" charitable contributions, controlling future investments, simplifying tax situations, and promoting the feeling of giving back. They also explore the benefits of involving family members in charitable decisions and the flexibility of donor-advised funds in supporting various causes. Join John an

In this episode of Friends Talk Financial Planning, John and Bridget dive into the basics of Donor-Advised Funds. They discuss how these funds allow individuals to maximize tax deductions while retaining control over their donations. They explain the concept of a donor-advised fund, its benefits, and when it might be advantageous for someone to use. Additionally, they touch on the implications for individuals who do not itemize their taxes and the potential strategies for co

In this episode of Friends Talk Financial Planning, John and Bridget discuss the required minimum distributions (RMDs) and the recent changes to penalties for not taking them. They dive into the details of the Secure Act 2.0 and provide important tips to avoid IRS penalties. John's firm website: https://www.trinfin.com For advisors around the US: https://www.acplanners.org/home Thanks for watching, and please subscribe! #RMDs #RequiredMinimumDistributions #SecureAct2.0

Many people of heard about Donor Advised Funds (D.A.F.) but not everyone knows how powerful they can be to leverage charitable giving. In today's episode we talk about situations where Donor Advised Fund makes sense, the of the tax savings that a DAF can bring, and how it can help facilitate happiness through giving. John's firm website: https://www.trinfin.com For advisors around the US: https://www.acplanners.org/home Thanks for watching and please subscribe! TRAN

Giving money away can come with happiness or regret. Bridget Sullivan Mermel and John Scherer discuss how to avoid three flavors of donation regret. Stay tuned for our tips on how to feel more of the warm glow of giving, too! John uses his own stories to illustrate how donating can make you feel bad or good. He talks about how he thinks about being scammed by a charity and what he learned from the experience. We talk about public radio station changing formats, and fee

When you've reached a point in your life when you know you've got more than enough, you may think about passing along your financial wealth to your kids, grandkids, and charity. Tax-efficiency means youYou want to give money and pay less tax! Bridget Sullivan Mermel and John Scherer explain how to give money and pay the least in taxes for everyone involved. #acpmemberwisdom #estate Here's another video we shot about estate planning mistakes: https://youtu.be/VSvzddIDN

Financial Resolutions for 2023. Both John Scherer and Bridget Sullivan Mermel are making them! And we're revealing them in this video. First, we discuss the first resolution that John recommends--the grandparent to all the other resolutions--resolve to spend some time on your long term finances in 2023. That means setting aside a specific amount of time each month or quarter to tackle some of the financial tasks that aren't that fun, but sure feel good when they're done.

Smart Charitable Giving is relevant during this time of year. In this video, we talk about how to give money and save on taxes. Give more money in donations and pay less in tax; we love this formula. Be smart about your charity. If you're smart about charitable giving, you'll think before you give gifts of cash. We've got three tips that you should be aware of before you make any gifts of cash to charities. The tax savings could be huge. By the end of this episode, you

Understanding QCDs, or Qualified Charitable Contributions can save you big on your taxes. As a practical matter, there are important reasons to do QCDs before December. Many people know that at a certain age, the law requires you to take RMDs, or Required Minimum Distributions out pre-tax accounts. But did you know there are ways to take Required Minimum Distributions, or RMDs, and pay no tax at all? It sounds to be too good to be true, but the IRS explicitly approves