Tax season officially ended and many people who thought they were going to get a refund actually owed. This was the case for Rich, who ended up owing a good chunk of change this year. This was the first time he’s ever had to pay the IRS. Marcus, on the other hand, got some money back and thinks it’ll be the last year he gets a refund. Thanks be to the merciful tax gods!

That being said, this week’s episode is all about tax planning throughout the year and how you can take the necessary steps to make sure all your money is in order before tax season arrives. In this episode the guys discuss their tax return expectations, making more and earning your way into a higher tax bracket, filing with a CPA vs. filing online yourself, and how to set the foundation for personal finance success all year long.

Show Highlights:

  • The impact of waiting till last minute to file taxes
  • Expecting a refund versus preparing to owe taxes
  • Working on 1099 contracts when no taxes are taken out for you
  • Why succeeding at your career can push you into a higher tax bracket
  • The pros of hiring a CPA instead of filing your taxes yourself
  • Establishing good monetary habits throughout the year not just at tax season

Mentioned on This Week’s Show

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