01:31 - Heads up retail business owners! The new state sales tax rate for Louisiana goes into effect on July 1. It drops from 5% to 4.45%, but if you continue to collect the higher rate, you must remit those revenues to the state in full.

03:16 - The IRS releases its new 1040 that's supposed to be the size of a postcard. It's a little deceptive though, because you may have paperwork from up to 6 extra schedules to send in with the post card. It's not really that big of a deal, but the guy is trying to fulfill a campaign promise. Gregory points out that paper returns are hardly used these days anyway.

07:38 - Maria Bartiromo previews some of her interview with Trump, and it sounds like another round of tax reform is coming. It sounds like he's working on it now, and will release his plans later this year. Getting another tax cut could be great for the economy.

14:41 - Is your personality type more likely to be financially scammed? Gregory and James are surprised by a report that outlines the type of person that is most likely to be caught up in a financial scam.

26:47 - A cup of coffee in Venezuela now costs a million pesos, which is about 29 cents. Socialism at work.

31:45 - Gregory responds to criticism that Tesla is a sham company. CEO Elon Musk is a great showman, but what's the real problem with Tesla's production? Elon called Ford a morgue, and Ford responds with a biting wit.

35:43 - The next Gregory Ricks Live is coming up Tuesday, July 10th, 6:30pm. Come find out more about Gregory Ricks and what he can do for you.

39:23 - How is your Social Security taxed? First, you learn how to determine with the IRS calls your Combined Income, and then you learn how the taxes are applied based on your bracket.

48:00 - Lesha Nugent Freeland is our guest this hour. She is the Realtor of the Total Wealth Authority™ and starts by updating homeowners on the National Flood Insurance Plan issues. It's set to expire at the end of July, and it'll probably be renewed at the last minute, but it can still cause you trouble in the meantime. She also shows you how others have been able to work the system to get a better deal on their flood insurance.

1:00:17 - Gregory Ricks and Lesha Nugent Freeland share experiences and warnings of using your IRA to get into the real estate business. Buying or leveraging a rental property with your IRA could be a disaster if any money from outside the IRA is conmingled in the property or there's any hint of self dealing. If you break the rules, the penalties are brutal.

1:04:15 - Sue in Kenner is skeptical of the new floodmaps, considering her house has never flooded, but her lot is rated more expensive than some of the areas that have flooded. Lesha explains where this is a decision from the Army Corps of Engineers, and gives Sue a few ideas on how to get her flood insurance costs lower.

1:07:41 - If your property has ever had any help from a Road Home covenant, then flood insurance is mandatory on that property.

1:11:43 - Alaska has the highest unemployment rate, and Hawaii has the lowest.

1:14:51 - Doing a real estate transaction in the midst of a divorce has its own set of issues making a complicated process even more so. Lesha explains how the new certification from the Divorce Real Estate Institute is an interesting step in confronting problems from uncooperative homeowners in splitsville.

1:23:33 - Is there any situation in which you should NOT buy flood insurance for your house? If your house is highly unlikely to flood, the insurance is probably so cheap, you would still be better off getting it.

1:26:21 - Kevin in Prairieville asks Gregory and Lesha if his wife should be on the title of the home? It turns out she isn't, so Kevin asks if that could be fixed with a will. Gregory prefers that both spouses be on the home's title if at all possible, and he should most definitely think about getting it cleared up in a will.

1:29:25 - Raymond in Albany shares a story of his unwise decision to not carry flood insurance, because his property jad no history of flooding. Sure enough, a few inches accumulated in a small flooding incident, and it costs him tens of thousands in repairs. Flood insurance would have been less than $50 a month.

1:30:53 - Lesha shares a couple of featured properties she has on the market.

1:37:22 - Bill in Pearl River is getting remarried in his 70s, and asks Gregory about the options for him and his fiancee with Social Security spousal benefits.

1:45:27 - Tam in Nola taps Gregory's wisdom in how to approach buying a vacation house in Destin. How can she do it and get the most out of it? How can she take advantage of the taxes, write offs, and maybe even renting the place out?

1:51:49 - Scott in Kiln asks if his dad should use a trust to pass along assets to his son that's on disability?

1:59:45 - Gregory describes how he has seen people get caught up in prohibited transactions with their IRAs. If the IRS catches one wrong move, they could blow up the IRA. When it loses its tax status it becomes like a giant lump of taxable income, and maybe even some penalties. The golden rules of investing within your IRA: No self dealing, and no mixing assets.

2:05:49- Because you have full ownership and control of your IRA, you are considered a fiduciary and will be held responsible for all rules and regulations.

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