2025 The Final Drive Podcast

Getting more personal with Martin James in our last installment of part 3 of 3. Join David and Martin in their discussion of QCDs: How can you help your own CPA when filing? Later they get into how to manage a step-up cost basis. How can you manage a step-up cost basis with married couples? This hasn't been on David's radar yet, but thanks to Martin's own research and advice David learns more about how it works. Did you know there are different rules for this basis in other states? https://www.cfci.us/2025-the-final-drive

Join David and his Guest Martin James as they embark on a 3-part series, this is part 2 or 3.

Martin, a recovering CPA, has also projected tax changes coming at the end of 2025 due to our Marginal Tax System.

How will this affect our current bracket rates?

Have you ever thought to yourself:

What is Stealth tax?

How does this affect me?

What is the history? https://www.cfci.us/2025-the-final-drive

Bloomington roots grow deep when these 2 individuals get to talking.

Join David and his Guest Martin James as they embark on a 3-part series, this is part 1 of 3.

Martin James is a recovering CPA now turned Fly Fishing Instructor. Martin is a Charter Member in the Ed Slott's Elite Group with David.

This episode begins with discussions about previous Final Drive episodes on managing your taxes: Medicare Premiums, Roth Conversions, tax changes coming, and more.

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

Prescribing a Roth to reduce Pre-Medicare Premiums – or maybe eliminate the cost all together.

Listen to David as he discusses a real-life scenario where a client saved money doing this exact thing!

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

Am I too OLD to do a ROTH Conversion? Think again. Join David as he describes why you're NEVER too old for conversions.

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

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

So you think you'll be in a lower tax bracket when you retire?

The narrative of getting a deduction when you put money into your retirement account, grow tax deferred, and pay the tax when it comes out, has been flipped!

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

Out of control debt and spending how does inflation help or hurt our debt problem?

What's the appetite of Washington to do anything about it? Not much for now – but nothing happens in America until there is a crisis.

More reasons to take a proactive approach to move your retirement out of the cross hairs of higher taxes coming.

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

Why are they proposing our Required Distribution age on our IRA's and 401K's be 75 as part of The Secure Act 2?

David explains how budgets are made, by occasionally pulling forward expenses and pushing out revenue to cover the cost.

How demographics, projected retirement plan balances, line up perfectly to the new RMD age to pay for our projected spending.

Once again proving our Retirement accounts are squarely in the crosshairs of higher taxes and what you should do about it. https://www.cfci.us/2025-the-final-drive

Listen to David explain how to get a full step up of cost basis on a Marital asset and avoid paying capital gains? Learn about the Marital Gifting Strategy that almost no one knows about!

Hear how to take advantage of your life time, gift exclusion amount, without the fear of an IRS claw back.

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