The Wealth Planning Podcast with Brister Law

Year End Tax Saving Strategies Part IV: Home Office, Vehicle Mileage, and the Augusta Rule

End-of-Year Tax Planning Made Simple | 4 Essential Strategies You Can't Miss
 
👉 In this episode of the Wealth Planning Podcast with Brister Law, Anthony Brister is wrapping up the year with 4 key tax planning strategies to help you save big and prepare for financial success. Watch as he breaks down how to utilize these opportunities:
 
⏱ Timestamps:
0:47 – Home Office Deduction: Learn how small business owners and remote workers can leverage unused spaces at home for a tax break.
2:59 – Vehicle Mileage Deduction: Discover how tracking your business-related driving can save you thousands.
4:57 – Augusta Rule: Unlock a tax-free income strategy by renting out your home for business purposes.
7:07 – Investing in Yourself: Gain tips for personal and professional growth to increase your value in the long term.
 
🚗 From tracking your miles to investing in your personal growth, each strategy offers practical ways to save money and set yourself up for financial stability in the coming year. Whether you're a business owner, self-employed, or just looking to make smarter moves with your money, this video is packed with actionable advice.
 
🔥 Key Takeaways:
Maximize the Home Office Deduction with simplified or actual methods.
Utilize the Augusta Rule for tax-free income when renting your home.
Log your vehicle mileage correctly for business deductions.
Prioritize investing in your personal and professional development for exponential rewards.
 
💡 Don’t leave money on the table—watch now to learn how to take advantage of these opportunities!
🔗 Subscribe for more actionable tax planning and wealth-building strategies: https://www.bristertaxlaw.com
🔗 Share this episode to help others get a head start on their year-end tax planning!

Controlling Your Money Self Directing Retirement Accounts - With Carson Herlean

In this episode of the Wealth Planning Podcast, Anthony Brister sits down with Carson Herlean from the Generational Gains Podcast to uncover the strategies behind taking control of your money, building generational wealth, and unlocking financial freedom.
 
Learn how to use self-directed IRAs, real estate investments, infinite banking, and private lending to grow your wealth outside of traditional Wall Street methods. Whether you're in your 20s or planning for retirement, this episode offers practical advice and inspiring stories to help you become the CEO of your financial life.
 
Book a discovery call today: https://calendly.com/admin-jhf8/15min?month=2024-11
 
📌 Timestamps for Key Topics:
[0:05] Meet Carson : From learning about money in high school to teaching others how to take control of their finances.
[2:30] What are self-directed IRAs? Carson explains the power of unlocking and managing your retirement accounts.
[6:30] Jack Bogle’s shocking critique of Wall Street: Why he called the system "robbery and tyranny."
[9:15] Why most Americans aren’t ready for retirement: Common financial mistakes and how to avoid them.
[12:00] Creative investments with self-directed IRAs: From real estate to flipping forklifts and even worm farming!
[16:10] The power of Roth IRAs in business ownership: How Peter Thiel used his IRA to build a tax-free fortune.
[20:00] Private lending explained: How to lend safely with due diligence, collateral, and first-lien positions.
[24:30] Building generational wealth: Carson’s advice for creating a financial legacy through relationships and education.
[26:30] Simple but powerful financial advice for your 20s: The boring but effective strategies to save and invest.
[28:00] What does legacy mean? Carson reflects on teaching skills, building connections, and leaving more than just money.
 
💡 Key Takeaways:
Self-directed IRAs let you take control of your retirement funds and invest in assets like real estate, private businesses, and alternative projects.
Infinite banking through whole life insurance policies offers a powerful, efficient way to grow and protect your wealth.
Financial freedom starts with saving and choosing efficient, high-return strategies for your money.
Building generational wealth isn’t just about money—it’s about leaving behind skills, relationships, and opportunities for future generations.
If you’re tired of the Wall Street status quo and want to learn how to take control of your finances, this episode is for you.
 
Connect with Carson:
🌐 Horizon Trust (Self-Directed IRA Custodian): www.horizontrust.com
📱 Follow Carson: Search "Carson Herlean" on all major social media platforms.
 
📢 Like, subscribe, and leave a comment with your favorite insight from this episode!

5 Strategies To Help You Save Taxes Part III

With just weeks left in the year, there’s still time to take action that could lower your taxes and keep more money in your pocket. In this episode of the Wealth Planning Podcast, host Anthony Brister discusses five practical year-end tax strategies that can help you maximize savings.
 
Want to save more on taxes and build wealth? Book a discovery call at https://www.bristertaxlaw.com ask for a comprehensive consult before the year ends!
 
Timestamps:
0:02 - Introduction to Year-End Tax Strategies
1:14 - Retroactive S-Corp Election
2:55 - Paying Family Members to Save on Taxes
8:23 - Making Your Rental Property “In Service”
10:50 - Prepaying Expenses or Purchasing Needed Equipment
12:05 - Dissolving Unused Entities & BOI Reporting
15:01 - Summary & Key Takeaways
 
If you’re looking for practical ways to manage your taxes before the year ends, this episode is for you. Make sure to like, subscribe, and share with others who might find this helpful!
 
🔗 Related Episodes: Catch our previous episodes for even more tax-saving insights!

Year End Tax Strategies to Save Money Part II| HSA, FSA, Retirement & Charitable Contributions

In this episode of the Wealth Planning Podcast with Brister Law, host Anthony Brister talks about Year-End Tax Strategies to help you maximize your savings and build long-term wealth. Part 2 of this series focused on actionable tips to reduce your taxable income before the year ends.
From Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA) to retirement planning and charitable contributions, he covers essential strategies for personal and family deductions.
Want to save more on taxes and build wealth? Book a discovery call at https://www.bristertaxlaw.com ask for a comprehensive consult before the year ends!
Timestamps:
0:02 - Introduction & Overview
0:40 - Health Savings Accounts (HSA): Triple Tax Benefits Explained
3:01 - Flexible Spending Accounts (FSA): "Use It or Lose It" Strategy
4:30 - Health Reimbursement Arrangements (HRA) for Self-Employed
5:49 - Retirement Planning: 401(k) & IRA Contribution Limits
7:09 - Backdoor Roth IRA Strategy
8:12 - Roth Conversions for Long-Term Tax-Free Growth
10:08 - Solo 401(k) for Self-Employed: Maximize Contributions
10:42 - Charitable Contributions: Standard Deduction vs. Itemized
12:04 - Qualified Charitable Distributions (QCD) for RMD Mitigation
14:59 - Gifting Appreciated Assets & Charitable Trusts
15:17 - Recap & Call to Action: Book a Discovery Call at Briser Tax Law
If you found this helpful, please like, subscribe, and comment to stay updated on more tax planning tips!

5 Year End Tax Strategies for Business Owners Part I

Welcome to the first episode of the "Year-End Tax Strategies" series, where I dive deep into proactive measures you can take to optimize your tax situation before the year ends. I outline five strategies to help small business owners save money before the year ends.
📩 Need a Schedule C spreadsheet? Email Schedule C to admin@bristertaxlaw.com and we'll send you a free form to help track your expenses!
🕒 Timestamps:
0:05 - Introduction to proactive tax planning
0:58 - Overview of today's five key strategies
1:11 - Strategy 1: Making your first sale
2:11 - Strategy 2: Getting your books organized
3:52 - Strategy 3: Considering an S-corp election
5:07 - Strategy 4: Adjusting your payroll in an S-corp
6:08 - Strategy 5: Holding an annual meeting for compliance
🔗 Useful Links:
Schedule a comprehensive consult: www.bristertaxlaw.com
Quickbooks discount: https://quickbooks.partnerlinks.io/63mbh88o5yan
Don't forget to like, subscribe, and share this video with your friends, family, and fellow business owners. Your engagement helps us bring more useful content your way!

Attorney Explains The Difference Between A Will and A Trust

If you're like many of us, you want to create a lasting legacy for your loved ones. But without the right planning, that legacy can be jeopardized by family conflicts, a drawn-out probate process, or worse, your children ending up with someone you wouldn't have chosen. This episode of the Wealth Planning Podcast with Brister Law is here to guide you through the fundamental differences between a will and a trust—and which one might be best for you.
 
Anthony Brister discusses estate planning basics and explains how proper planning can protect your legacy, provide for your family, and ensure your wishes are honored. You’ll learn about probate avoidance, the privacy benefits of trusts, and how estate plans can minimize family tension during emotional times. Anthony also shares a personal story about the impacts of not having an estate plan, underscoring the importance of planning ahead. Whether you’re a parent, a business owner, or simply someone looking to protect what you've worked hard to build, this episode provides actionable insights on safeguarding your legacy and the well-being of those you love.
 
🔔 Subscribe to the channel for more financial and legal guidance. Don't forget to like, share, and leave your comments and questions below! https://www.bristertaxlaw.com
 
Key Topics Covered & Timestamps: 0:00 – Episode Introduction 0:04 – Why Legacy Planning Matters: Avoiding Family Conflict and Probate 0:27 – What You’ll Learn Today: The Key Differences Between a Will and a Trust 1:00 – Who Needs an Estate Plan? Why Everyone Should Have One 1:23 – Understanding Wills: Protecting Your Assets and Appointing Guardians 1:47 – The Basics of a Trust: What It Is and How It Works 2:13 – Why Consider a Revocable Living Trust? Key Benefits Explained 2:50 – Avoiding Probate: The Big Advantage of a Funded Revocable Living Trust 4:00 – Control and Management Differences Between Wills and Trusts 5:26 – Privacy Concerns: Why a Trust is More Private than a Will 6:36 – Flexibility in Estate Planning: Changing Your Will or Trust 7:39 – Pros and Cons of a Will: Lower Upfront Cost, Probate Process, and Risks 9:02 – Real-Life Probate Story: Family Conflict Without an Estate Plan 11:00 – Pros and Cons of a Trust: Higher Upfront Cost, Probate Avoidance, and Long-Term Savings 13:00 – The Importance of Naming Guardians for Minor Children 16:00 – Who Needs Both a Will and a Trust? Essential Advice for Families 17:02 – How to Start Your Estate Plan: BR Tax Law’s Streamlined Process 17:36 –
 
Don’t Wait—Schedule a Discovery Call Today

What is A Business Deduction?

Are you a small business owner wondering how to maximize your tax deductions? In this episode of the Wealth Planning Podcast with Brister Law Firm, Anthony Brister breaks down what tax deductions are, how they work, and common deductions for business owners. From understanding what qualifies as a deduction under IRS section 162 to practical examples of how deductions affect your taxable income, this video provides essential tax planning tips to ensure you're optimizing your business expenses and staying tax-efficient.
💡 Get started with your tax planning today! Schedule your free discovery call to see if we're a good fit and ask about our comprehensive end-of-year tax planning meeting at https://www.bristertaxlaw.com
 
📅 Don't wait! Only a few months left to make a significant impact on your tax savings before the year ends.
📩 Need a Schedule C spreadsheet? Email Schedule C to admin@bristertaxlaw.com and we'll send you a free form to help track your expenses!
Quickbooks referral link: https://quickbooks.partnerlinks.io/63mbh88o5yan
Timestamps: 0:00 – Introduction 0:22 – What is a tax deduction? 1:07 – The importance of end-of-year tax planning 1:42 – Tax deductions explained 3:00 – Example: How deductions work for a business owner 4:34 – What qualifies as a business deduction? 6:00 – Depreciation and amortization of large expenses 7:00 – The importance of tracking expenses and using tools like QuickBooks 9:00 – Schedule C and common deductions for business owners 11:00 – Top tax deductions for small businesses (cell phone, home office, vehicle expenses, etc.) 14:45 – Final thoughts on tax deductions and why working with a tax professional is essential
Don't forget to subscribe and hit the bell icon for more tax planning tips and updates!
Schedule your end-of-year tax planning meeting today at https://www.bristertaxlaw.com

You Have To Do This In Order To Be Successful!

In this episode of the Wealth Planning podcast with Brister Law, I discuss how being proactive could help you avoid a bad situation and how it can help you be successful as an entrepreneur and in life.
Schedule a free discovery call today at www.bristertaxlaw.com!

How to Write Off your Birthday

In this episode of the Wealth Planning podcast with Brister Law, I discuss writing off your birthday, what you need to do, and some common deductions you can also take.
Schedule a free discovery call today at www.bristertaxlaw.com!

The Truth about Trusts

In this Episode of the Wealth Planning Podcast with Brister Law, I discuss the Truth about Trust.
I answer questions like what is a trust, and who needs one? I will discuss the difference between a revocable and irrevocable trust. The pros and cons of both, and common schemes to watch out for.
I will also discuss the top 5 myths and mistakes I commonly see about trusts.
Schedule a free discovery call today! https://calendly.com/admin-jhf8/15min?month=2024-05