2025 The Final Drive Podcast

Marty James, CPA, is back on the podcast to share about potential incentives Americans can take when purchasing a "clean vehicle," aka an electric car or truck.

Did you know that if you are making a purchase of a clean vehicle, your MAGI – Modified Adjusted Gross Income – could impact the incentive credit?

Marty and David will have the details on the incentives…

https://www.cfci.us/2025-the-final-drive

For Americans planning to retire before becoming eligible for Medicare, there can be challenges in finding affordable health care.

In this episode, David welcomes Martin "Marty" James, CPA, to the podcast to discuss potential ways to minimize the impact of higher-cost insurance.

https://www.cfci.us/2025-the-final-drive

Join David as he discusses how the IRS is affecting your retirement accounts. They are hungry and guess who is going to feed them....your money. David explains why moving your IRA into a Roth account will prevent your children from being taxed considerably when they inherit your IRA; thus preventing the IRA from feeding on your children through taxes. Coming up in our next episodes we will have Martin James back! https://www.cfci.us/2025-the-final-drive

There are 3 years left until the end of the 2017 tax cuts.

Let's focus on what we can do this year of 2023.

As the advisor, I have an action plan for you regarding your retirement and estate planning opportunities.

Timing is everything.

How can you take advantage of up to a $5,000 catch up?

Inflation adjustments and more explained in this episode.

https://www.cfci.us/2025-the-final-drive

David is back in the studio! After taking a step back he is ready to discuss again, the importance of planning for 2025. We begin this episode with Tax Free Bonds.

Are tax free bonds really tax free?

Who should even consider tax free bonds, and how do coupons work when purchasing a bond?

Find answers to these important questions and more in this episode.

https://www.cfci.us/2025-the-final-drive

What's the answer to the looming Social Security trust fund being exhausted? In Short, more taxes!

Join David to discuss how to avoid being part of the solution and what are they likely to do, or could do, to fix Social Security.

https://www.cfci.us/2025-the-final-drive

This episode David discusses more about the Secure Act 2.0. Specifically, he will be talking about Qualified Longevity Annuities and what changes in the Secure Act make this, rarely used tool, more attractive.

What is a Qualified Longevity Annuity (QLAC), and why would now be a good time to consider one?

https://www.cfci.us/2025-the-final-drive

If you are still working and want a clever way to pay the tax on your Roth conversions in a less painful way, join me today in our new episode.

With S&P down around 18%, is this the best time for that Roth conversion for 2023 now, or should you wait?

All the things you should be doing now, to make your retirement in the future brighter.

https://www.cfci.us/2025-the-final-drive

Congress just passed the new 2.0 Secure Act! What does this mean for 2025? How will this affect our retirement account rules? Have you considered the change this could bring to your children's 529 Plan? Why are required minimum distributions starting at 75 when we need the money now? Is this increasing again in 2033? The peak of the baby boom occurred around 1962, which brings them to 70-75 in the next couple years. What can you expect? As long as insurance companies, other countries, etc. are willing to buy our debt we can expect these kinds of changes in our future. Join me in this episode to learn how, why, and when this is happening. https://www.cfci.us/2025-the-final-drive

Is Life Insurance a better Investment than an IRA?

What a great topic starting off the New Year!

While life insurance is a protected class in the Internal Code, it is also tax free.

How does this happen?

The advantages of a life insurance policy include a death benefit for your children - leaving a legacy, cash value grows, borrowing against a life insurance policy, and it grows tax free. When looking at your IRA you are limited on your options, including the conversions you need to make into your Roth.

However, with life insurance you have more opportunities: universal life, term, or whole life. If you are worried about changes in the law on ROTH IRA's, your life insurance planning now can save you later because IRS codes are like whack-a-mole, but the IRS Code 7702 is the most sacred tax code in all the laws.

Listen in to learn more.

https://www.cfci.us/2025-the-final-drive