Key Takeaways:

1. Know When Money Comes and Goes Good money planning isn’t just about how much you make—it’s about when you make it and spend it. If you time it right, you can lower the taxes you owe.
2. Retirement Plans = Double Win Using retirement plans like a SEP or solo 401(k) helps business owners save money for later and pay less in taxes now. It also makes workers happier!
3. Spread Out Big Money Moments If you suddenly make a lot of money (like selling a business), you might have to pay a lot in taxes. But you can sometimes stretch the income over a few years to avoid one giant tax hit.
4. Help With Health = Save on Taxes Using tools like HSAs and FSAs lets employees pay for health stuff tax-free—and it gives the business some tax savings too. It’s a win-win!
5. Tax Laws Change—Stay Sharp! The government changes tax rules often. Knowing what’s new helps you make smarter money moves and avoid surprises.

Chapters:

Timestamp Summary

0:00 Complex Cash Flow and Investment Planning Around Taxes

2:48 Strategies for Managing Taxes on One-Time Income Events

5:40 Navigating Tax Incentives and Employee Retention Strategies

7:56 Tax Benefits of Retirement Plans and Health Savings Accounts

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Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Key Takeaways:

1. Money Should Move Like Information Think about how you can send a text or a video to anyone in the world in seconds. Money should work the same way—fast, easy, and without needing a bank or government in the middle.
2. Bitcoin Has a Limit—That’s a Good Thing There will only ever be a certain amount of Bitcoin (just like there’s only one Mona Lisa). That makes it more stable and trustworthy than regular money, which governments can print more of whenever they want.
3. Regular Money Can Lose Value Over Time When prices go up (called inflation), your dollars can buy less stuff. That means saving money in dollars can be risky. Politicians and banks can also make changes that affect how much your money is worth.
4. Bitcoin Matches the Way We Live Today People live, work, and shop online all over the world. Bitcoin fits this lifestyle because it’s digital, works anywhere, and doesn’t belong to just one country.
5. Using Bitcoin Could Change Big Life Decisions Imagine buying a house with money that keeps its value better over time. If Bitcoin became the way we measure prices, it could help people make smarter, long-term choices with their money.

Chapters:

Timestamp Summary

0:00 Why Measure the World in Bitcoin

2:45 Understanding Money as Information in the Digital Age

6:01 The Challenges of Using Unstable Measurements in Construction

6:41 The Case for Bitcoin as a Stable Financial Measurement

10:05 The Financial Impact of Bitcoin Versus Traditional Currency

13:05 Comparing Real Estate and Bitcoin Investment Returns

16:35 Building Wealth Through Bitcoin and Stablecoin Investments

18:11 Leveraging Stable Currencies and Bitcoin for Financial Growth

20:08 Investing Wisely: Consult Advisors and Understand Risks

Powered by Stone Hill Wealth Management

Social Media Handles

Follow Phillip Washington, Jr. on Instagram (@askphillip)

Subscribe to Wealth Building Made Simple newsletter

https://www.wealthbuildingmadesimple.us/

Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want. Sign up now, and let's make those dreams happen!

WBMS Premium Subscription

Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Key Takeaways:

1. Look for Hidden Tax Treasures There are special tax “bonuses” for doing good things, like hiring veterans or creating new stuff (like inventions). These are called tax credits, and they can save your business a lot of money.
2. Don’t Trust Every TikTok Tip Just because someone says something about taxes online doesn’t mean it’s true. Always double-check with someone who really knows—like a CPA (that’s a tax pro!).
3. Keep Good Records—Always Save every receipt, bill, and note about what you spend for your business. If the IRS ever checks your work, you’ll be ready and won’t panic.
4. Find Your Tax Style Some people take more risks on their taxes, while others play it safe. You need to know what feels right for you and build a plan that fits both your comfort level and your business goals.
5. Get Help From a Pro A CPA can help you find tax savings you didn’t even know existed. Meeting with one regularly helps you stay legal, smart, and ahead of the game.

Chapters:

Timestamp Summary

0:00 Introduction to Tax Deductions and Credits

0:42 The Importance of Tax Deductions

1:06 Finding Valuable Deductions for Your Business

3:21 Tax Credits for Hiring and Innovation

5:00 Documenting Expenses for an Audit

8:02 Balancing Aggressiveness with Tax Risks

Powered by ReiffMartin CPA and Stone Hill Wealth Management

Social Media Handles

Follow Phillip Washington, Jr. on Instagram (@askphillip)

Subscribe to Wealth Building Made Simple newsletter

https://www.wealthbuildingmadesimple.us/

Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want. Sign up now, and let's make those dreams happen!

WBMS Premium Subscription

Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.