SML Planning Minute
SML Planning Minute podcasts provide timely and thought-provoking financial ideas and concepts for individuals, families and business owners. Be sure to listen in! Simply click on a topic below to access a podcast. You can also subscribe to one of the many service providers to listen on the go.
IRS Again Delays New Reporting for Gig Workers and Independent Contractors
Episode 259 – The IRS further delays implementation of the rules related to the issuance of Form 1099-Ks to gig workers and independent contractors. Continue Reading IRS Again Delays New Reporting for Gig Workers and Independent Contractors
Disinheriting Adult Children for Their Political Beliefs Revisited
Episode 258 – We’ve all heard stories of Thanksgiving dinners gone terribly wrong. The food is great, the mood is good, and everyone is happy to see each other. But it all goes terribly wrong when politics enters the room. Continue Reading Disinheriting Adult Children for Their Political Beliefs Revisited
What Does Life Insurance Have to Do With Divorce Revisited
Episode 257 – What does life insurance have to do with divorce? Life insurance and divorce intersect in several ways. Continue Reading What Does Life Insurance Have to Do With Divorce Revisited
No Section 165 Loss Deduction for Bitcoin
Episode 256 – Cryptocurrency can be a very volatile asset. If the cryptocurrency falls significantly in value, that loss may not be entitled to a Section 165 loss deduction on the investor’s income tax return. Continue Reading No Section 165 Loss Deduction for Bitcoin
Massachusetts and Other States’ Estate Taxes
Episode 255 – Massachusetts is one of twelve states with a state estate tax. Even though it just raised its state estate tax exemption amount from $1 million to $2 million, you don’t have to be ultra-wealthy to be subject to estate taxes, so plan now. Continue Reading Massachusetts and Other States’ Estate Taxes
Are Millennials Better Prepared for Retirement Than Baby Boomers and Generation X?
Episode 254 – Which generation—baby boomers, gen X or millennials—is better prepared for retirement? The answer may surprise you. Continue Reading Are Millennials Better Prepared for Retirement Than Baby Boomers and Generation X?
Will Future Retirees be Able to Maintain Their Living Standard?
Episode 253 – Two recent reports paint a scary financial picture for many future retirees. But how bad is the situation really? Continue Reading Will Future Retirees be Able to Maintain Their Living Standard?
Are Roth Conversions Right for Everyone?
Episode 252 – We’ve been bombarded by mass media touting the benefits of doing a Roth conversion, but they may not be right for everyone. Continue Reading Are Roth Conversions Right for Everyone?
What are Student Borrowers Going to Do?
Episode 251 – A recent survey found that 62% of people with student debt plan on “boycotting” their future payments. Is that a good idea? Continue Reading What are Student Borrowers Going to Do?
Plan Today for Tax Changes that May be Coming in 2026
Episode 250 – The Tax Cuts and Jobs Act of 2017 is scheduled to expire in a little over two years. Now might be a good time to start planning for a potential tax law change. Continue Reading Plan Today for Tax Changes that May be Coming in 2026
IRS Puts Moratorium on a Popular Tax Program Until at Least Next Year
Episode 249 – The IRS recently announced a moratorium on the popular Employee Retention Credit (ERC) tax program. What happens now? Continue Reading IRS Puts Moratorium on a Popular Tax Program Until at Least Next Year
Finally: Aretha Franklin’s Estate is Finally Resolved
Episode 248 – Aretha Franklin’s long-running drama over her will has finally been resolved. There are lessons here for everyone. Continue Reading Finally: Aretha Franklin’s Estate is Finally Resolved
IRS Delays Roth Catch-Up Provision Mandated by SECURE 2.0
Episode 247 – IRS delays the SECURE 2.0 requirement for catch-up contributions for highly paid employees age 50 and over to be made as Roth contributions. Continue Reading IRS Delays Roth Catch-Up Provision Mandated by SECURE 2.0
How Much Money Do You Need to be Considered Wealthy?
Episode 246 – Do you have enough money to be considered wealthy? A recent survey by Charles Schwab and Company has the answer. Continue Reading How Much Money Do You Need to be Considered Wealthy?
Are You Ready for the Corporate Transparency Act Starting January 1, 2024?
Episode 245 – The effective date of the Corporate Transparency Act, January 1, 2024, is nearly upon us. Are you affected and, if so, prepared to comply with its mandates and regulations? Continue Reading Are You Ready for the Corporate Transparency Act Starting January 1, 2024?
How the Wealthy Borrow Cheap Cash
Episode 244 – When they’re facing a significant expense, the wealthy have a special technique they use to access cheap cash. Continue Reading How the Wealthy Borrow Cheap Cash
Don’t Be Like These Famous People—Get Your Will Done Revisited
Episode 243 – Estate planning is the process of protecting your wealth and transferring a legacy to your heirs in the manner you wish. Even the rich and famous fail to plan, resulting in disaster. Everyone needs a will and estate plan. Continue Reading Don’t Be Like These Famous People—Get Your Will Done Revisited
IRS Provides Additional Relief for RMDs in 2023
Episode 242 – IRS provides additional relief to individuals who inherited traditional IRAs in 2020 or after and failed to take RMDs, and to those who mistakenly took RMDs in 2023 when they didn’t have to. Continue Reading IRS Provides Additional Relief for RMDs in 2023
Millennials, Gen X and Gen Z Need to Prepare for Retirement Now
Episode 241 – Whether you’re hoping to achieve financial independence and retire early as part of the FIRE movement or later, Millennials and members of Gen Z and Gen X need to prepare for retirement now. Continue Reading Millennials, Gen X and Gen Z Need to Prepare for Retirement Now
Optimize Your Estate Plan by Incorporating Life Insurance
Episode 240 – Life insurance is the ideal tool to optimize an estate plan. It provides the money at the right time to pay taxes, replace wealth and to enhance and perpetuate a family legacy. It also makes various estate planning strategies more efficient. Continue Reading Optimize Your Estate Plan by Incorporating Life Insurance