Winning at Life with Gregory Ricks

The Weekly Wrap: 11.16.19


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00:37 - There's not a lot of headlines about the looming government shutdown that could happen if some budget bills aren't passed by Thursday. The news is paying much attention, but the markets don't seem spooked either.

04:06 - Jamie Dimon on 60 Minutes was badgered by Leslie Stahl to say something bad about the economy. Mark Cuban explains how Senator Warren's proposed wealth tax will run into liquidity issues, and soon. Gregory responds to some important financial points in the debate against a wealth tax.

06:22 - Gregory's thoughts on a new tax for Short Term Rentals (Air BNB).

11:18 - Voting in local and state elections is one of the best ways a community can keep its taxes low and business friendly. There's always going to be an excuse to raise a new tax or spend more money, and some of it can be stopped by voters.

19:35 - Scam calls are through the roof, with one report claiming there were 2000 robocalls per second in October.

32:11 - Jude Heath CPA answers: what do you need to take care of before 2020 gets here? You may want to get a new business vehicle, and the tax implications have improved.

39:54 - Trump changes his primary residency from NY to Florida. Jude Heath explains how this helps him pay lower taxes.

49:27 - Gregory and Jude describe different ways you can layer streams of income, with some diversity between how the streams are taxed.

58:34 - Betty in New Orleans is tired of paying the escalating taxes caused by her Required Minimum Distributions from her IRA. Should she just pay the whole tax bill and be done with it?

1:04:49 - There's some slight differences in how Mississippi and Louisiana tax different forms of retirement income.

1:10:45 - Craig in Metairie wants to grow his retirement investments as an inter-generational benefit. Can you give your IRA to your kid?

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Winning at Life with Gregory RicksBy Winning at Life with Gregory Ricks