Winning at Life with Gregory Ricks

Episode 1156: The Weekly Wrap 05.22.21


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Hear the financial headlines of the week, and look ahead at the week to come. Gregory explains how the wild week in crypto currencies keeps this asset class off the table.

Our restaurant of the week is Susan Spicer's patio cafe in Midcity: Rosedale. Susan Spicer joins the show to talk about her business.

The Wine, Wisdom, and Food experience is back! Gregory hosts a wine pairing, and a financial talk with a focus on tax planning, and a tactical element added to the Invest 50-50.

Jude Heath CPA joins the show, and updates you on the rules changes for this year's tax season, and how some of the unemployment bonuses are being handled by the IRS.

Steve in Algiers asks if he should refile his daughter's taxes to get the Unemployment income exclusion.

Jude Heath explains how the process to get caught up on unfiled tax returns is fairly quick and easy. It may not be cheap, but you can be on the path to resolution within days.

The ranks of the retail trader were boosted through apps like Robinhood last year. Now, over a million new traders are discovering their stocks trades may come with a hefty bill for the tax man.

Gregory and Jude explain how some households are going to be receiving Child Tax Credit Advances starting in July.

Lolo in Kenner is selling her rentals, because she and her husband are too old to be keeping up with all that. What should they do with the money from the sales?

Phillip in Marrero asks if a cash business can fly under the rader of the IRS.

Gregory has a preview of the new spending plan proposed by the Biden Administration.

Julio on Youtube asks:
So what is the answer to this question? Should I use my 401(k) to pay off my rental property? I have $220,000 in my 401(k). I owe $204,000 on my three unit rental property. It generates $3,250 a month. The interest rate on my rental property is 3.625%. I currently pay $1, 863 a month on the mortgage.

Curtis on Youtube asks:
what advice can you give to a beginner who just got into trading? I'm about giving up because I don't make enough profits like people talk about it, my account gets liquidated.
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Winning at Life with Gregory RicksBy Winning at Life with Gregory Ricks