How much do you tip the waiter when they ask? On Saturday, we dove into the complexities of taxation for tipped employees, exploring whether tips should be taxed and how it impacts Social Security, FICA, and eligibility for tax credits and public assistance. We also discuss the potential benefits of investing in Opportunity Zones, areas designated for economic development that offer unique tax advantages for those looking to revitalize communities.

Our conversation then shifts to wealth-building strategies, unpacking how the wealthy leverage tools like Delaware Statutory Trusts (DSTs), Opportunity Zones, and 1031 exchanges to grow their wealth while minimizing taxes. Finally, we offer financial planning advice for young adults, focusing on the importance of starting early with a Roth IRA, building strong savings habits, and the value of mentorship in financial literacy.

 

Listen, Watch, Subscribe, Ask!

https://www.therealmoneypros.com

 

Hosts:

Brian Wiley

Alexandra Lundgren

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SPONSORS:

Guild Mortgage:

https://guildmortgage.com

 

Ataraxis PEO

https://ataraxispeo.com

 

Tree City Advisors of Apollon:

https://www.treecityadvisors.com

 

Apollon Wealth Management:

https://apollonwealthmanagement.com/

 

Formations:

https://get.formationscorp.com/real-money-pros

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