NoBS Wealth: Intro to Taxes

[00:00:00] Stoy Hall: Today’s episode is something that we all don’t care a hundred percent much about , but it’s Texas. Well, uh, we pre-taxes, not pre-tax, but pretax conversation because next week will be Brian and. we’re, I just can’t wait to pound him with a bunch of questions. We’re promoting taxes today. 

[00:00:27] Lisa Grefe: Yeah. Yeah. We’re getting excited.

[00:00:29] Stoy Hall: Our opinion on taxes and philosophies and concepts, and then next week the expert comes in and we just hound him with questions. Perfect. On not live, but like live in front of him. Cuz I’m not prepping him. I don’t like prepping him and it makes him sweat flustered. It’s awesome. . So taxes, today’s all about them.

[00:00:47] Taxes. It’s kind of tax season, right? You know. Everyone’s gotten, should have gotten their W two s or 10 80 nines at this point. Um, or at least they’re flowing in via snail mail. Um, and it’s time. It’s time to really figure out how much you’re gonna pay in taxes. So this is the time 

[00:01:04] Lisa Grefe: of year I get the most mail.

[00:01:06] Absolutely. I get excited. I’m like, I have things in my mailbox. Yes. Oh wait, I paid, 

[00:01:11] Lyndsey Monahan: Does that make you excited to open them up though? That’s the red that’s 

[00:01:14] Lisa Grefe: I get excited about like my mailbox is full and then, and I’m 

[00:01:17] Stoy Hall: like document on document I spent How what? Yeah, like I had one um, come in today and I’m not gonna name where the company went from cause I don’t understand, but I was paying for two months for health insurance that I never.

[00:01:32] I was like, Cool. Here’s my 10 95 C. Oh, well there’s 500 bucks. I didn’t know that was possible. I don’t know. Only place I have is through my wife’s work, so I don’t know where it came from. , whatever contract we had, but all of a sudden I had double insurance, which I didn’t know of, which would’ve been cool, but kinda love tax stocks.

[00:01:49] So Brian, uh, you’ll be writing that off. A hundred percent . 

[00:01:54] Ryan Hall: How does that even happen? I don’t, I don’t, I don’t wanna, I don’t wanna wrap my head around that. 

[00:01:58] Stoy Hall: It’s not our, my brain early. Exactly. We’re about opinions and our opinions. Only opinions. Not facts, but close. Close. All right, so let’s start this time of the year.

[00:02:10] Everyone’s gathering docs, so let’s, let’s actually walk through some of those docs that we need to get. Um, we being planners, right? But also individuals out there that aren’t necessarily, uh, have a planner or an advisor or accountant. Um, and walk through some of the ones that people don’t think of or don’t think to grab.

[00:02:32] Okay. This is gonna be an open, open forum today. Like q a should run my checklist. Right? A little q and a. Um, we will, we will blast a checklist next week with Brian. Yeah, that’ll be good. We’ll, we’ll definitely have that out there. Put it out social. But for us, Right. What are the ones that we think of as planners that are, that are important to getting in front of someone’s accountant?

[00:02:53] Ryan Hall: First one and most common. Most common 

[00:02:56] Stoy Hall: w2. Yeah. I mean, sure. Take the. Hey, that’s fine that I’ve already said. 

[00:03:02] Ryan Hall: Geez. Hey, you said, you said which ones? So I took low hanging 

[00:03:05] Stoy Hall: fruit right there. You did. You did. Um, anyone else? 10 90 nines. Oh, Jesus. are, we 

[00:03:13] Lisa Grefe: start I 10 95. There 

[00:03:15] Stoy Hall: you go. Yeah. There we go. All three of the ones that I’ve already mentioned.

[00:03:18] Thanks team. But we’ve just been, How about ones that, that you might not get in the mail, like your mortgage sometimes those are e delivers. You have to log in and download those, right? Yep. Your, your statements from any of your investments. Sometimes you just have to log in and grab those. Don’t forget to log in and grab those.

[00:03:39] Uh, 

[00:03:39] Ryan Hall: Charity business. Oh, business owners. Bank account statements or credit card statements for those expenses. 

[00:03:45] Stoy Hall: Yeah. Yeah, yeah. That’s student loan interest. Student loan. Yeah. Right. Which, you know, thankfully we don’t have to pay those right now. Oh, that’s 

[00:03:54] Lisa Grefe: great. Uh, I just got one, my daycare, what I spent last year.

[00:03:59] Oh, that felt really good. 

[00:04:01] Stoy Hall: There we go. There’s a daycare one that, that felt really good. Um, tag, uh, your tags for your, Oh yeah, he tags. Don’t forget that one, right? Property taxes. Don’t forget those. Those are ones that, Oh, usually I can’t 

[00:04:13] Lyndsey Monahan: believe I didn’t think of that. I just wrote a big check for that.

[00:04:15] See, property taxes are due in Texas in January, so 

[00:04:18] Stoy Hall: yeah. Ours are March. It’s not like it’s much better. Yeah. Mars is March in September. It’s not like, it’s like woohoo March. Oh yeah. The tax bill. And then the tax bill. Awesome. Fantastic. 

[00:04:30] Lisa Grefe: So, um, also I charity, so if you’ve given to charity throughout the year, you may get a letter or you’ve made notes about it.

[00:04:37] You need to grab those potentially. Yeah, definitely make, And so that’s 

[00:04:40] Lyndsey Monahan: really important. I donate to some places that you have to get the slip from them when you drop off. Mm-hmm. . So you should make sure that you keep those in a safe place. That’s a year round thing though, but Yeah. 

[00:04:49] Stoy Hall: Yes. And even if you don’t, if they don’t have a slip, there’s a lot of charities that just don’t, Right.

[00:04:53] They don’t, they don’t issue that their IRS does have their own form and they do have their own accountant of like, Hey, a shirt is like $2. Like, so there is a form out there that you can fill out. Um, but I think all of the reason I asked this question is because of like, how many different things did we just throw out there in like two minutes?

[00:05:13] A lot, right? A lot. Uh, cuz the taxes, taxes are a lot. Um, so I want to put this out here for when do you believe someone should hire an accountant, CPA or, uh, yeah. Enrolled agent. I mean, when, when do you think they. 

[00:05:34] Ryan Hall: Realistically prior to the first of the year? For me? 

[00:05:37] Stoy Hall: No, no, no, no. Not timing. Oh, when someone’s financial wellbeing.

[00:05:41] Oh, okay. 

[00:05:42] Ryan Hall: Is to the point I thought you went timing wise. Yeah. Ryan. Hey, I, I was going timing wise, I’m like, Hey, I think it’s 

[00:05:50] Lyndsey Monahan: when, when you start to get layers of complexity and so like, I think it’s different for each age group. So I do my dad’s taxes, right? He’s, I’m responsible for taking your his stuff.

[00:06:02] I need somebody to help me with that, even though he’s technically an easy 10 40. I still want somebody to look at that with me because there’s all kinds of health deductions and things that need to be accounted for there, and I don’t know if I’m getting them all or not. So that’s why I hire somebody to help me with that.

[00:06:20] Same thing with individuals, right? You, if you have a W2 and you’re a minor, they’re probably pretty easy, but there’s still some deductions there. You might not be, you might not be taking that you could be eligible for. 

[00:06:33] Stoy Hall: Yeah. I think, um, to make it simple is if you have any 10 99 income, right? You get a W two and 10 90.

[00:06:43] Hire an accountant. Um, if you are, uh, just a W2 person and all of a sudden you inherit money, you have some type of dependent, like a parent or have your own children, again, hire, hire a CPA or accountant or enrolled any one of those at this point, um, because that’s that first step of complexity that will open up things that you probably just wouldn’t, wouldn’t have known, um, at all.

[00:07:10] Otherwise, yeah, go to h and r Block or TurboTax online or something like that. If you’re just a simple, simple, uh, W2 with no complexities in life, which is, which is nice too, to be that simple. , I would love to be simple right now. I 

[00:07:27] Lyndsey Monahan: miss those days. 

[00:07:31] Ryan Hall: All right. Those, those days are long gone, huh? Oh, . 

[00:07:34] Stoy Hall: Oh God, I’m trying to do, Well, 

[00:07:35] Lisa Grefe: I think business owner, I mean, that gets into a whole nother level of complexity, which Correct.

[00:07:40] You are, there’s, there’s lots of layers, businesses, several businesses. So there gets to be lots of layers 

[00:07:46] Stoy Hall: and, and you have to sit for hours trying to figure it out. Figure it out. It’s not our job. Nope. Not our job. Let me ask you guys this, Um, in your opinion, should you get a tax refund or no? No. It’s a true question.

[00:08:02] It’s not a trick question. . I know a hundred percent no. Why would you want a tax refund? Because it feels good. Yeah. Let’s go through the experiences that we’ve had with clients and, and just people in general. When they get a tax refund and we say you shouldn’t, and they say, No, I want one. What are, what do you think the, the mindset is behind receiving a.

[00:08:25] I mean like the normal W2 people, not the ones that have a really great CPA that end up getting a refund. I mean, the ones that like just traditionally go, go after those, I mean, it 

[00:08:34] Lisa Grefe: almost feels like a midyear bonus or something extra coming in that you, you shouldn’t count on, but you think about it, if you’ve gotten in the past, you think, Okay, potentially again this year I’m gonna get some extra money around April, I can put it towards 

[00:08:51] Stoy Hall: x.

[00:08:53] Lindsay, you were gonna say something? 

[00:08:54] Lyndsey Monahan: I was gonna say that exact same thing, that people 

[00:08:56] Stoy Hall: think it’s a bonus. Yeah. They, they think it’s someone else’s money. The government’s giving them money, but what’s the truth? It’s just your 

[00:09:04] Lyndsey Monahan: money. Government, The government’s been holding onto you. 

[00:09:07] Stoy Hall: That’s a fact, Chris.

[00:09:08] Free. I know. 

[00:09:09] Ryan Hall: Free that the government’s getting from us. 

[00:09:11] Stoy Hall: Right? But what happens if you don’t pay your taxes and you do owe? Guess what? , you get a late fee and a penalty of interest immediately. Yeah. So if you don’t pay on time, you have to pay extra. If they don’t give you refund in time, guess what happens?

[00:09:29] Nothing. You just get it eventually. Right? So you are giving the government all year round, by the way, tax free loan on your money. Does that feel good? It 

[00:09:39] Lyndsey Monahan: sounds like an abusive relationship to me. , 

[00:09:41] Stoy Hall: right? But people love having this big chunk of money. Um, and you don’t want that. You want to do zero or at least owe them a little bit, right?

[00:09:51] You don’t wanna owe them a ton, cuz yeah, you don’t wanna owe ’em a lot. You don’t wanna, that doesn’t feel good. Most people don’t plan for that later. Um, unless you’re a business owner. But outside of that, you want to be as close to zero as possible because then you are winning. Now I’m gonna, it’s gonna be asked, well, how do I make sure that I’m close to zero?

[00:10:09] Do you guys have an idea of how someone can adjust their paycheck today, um, to equate, to get to that number zero or close to W four 

[00:10:19] Ryan Hall: adjustments with their dependents? 

[00:10:21] Stoy Hall: What is a W four adjustment? Do you don’t have to get into details, that’s not our job, but what is 

[00:10:26] Ryan Hall: that? Claiming More dependence on your taxes.

[00:10:29] So a lot of people that will run into, with, uh, children, they’ll have one and then they’ll only put one on there, or they’re still claiming zero and they might have three or four. 

[00:10:39] Stoy Hall: Yes. And that question on there, dependent is about the household tract. So your spouse technical counts as another one. Yep.

[00:10:46] Right? Or for Lindsay, her father probably counts as another one. So you want to have more on there. The more you have, the less taxes get taken out. Correct? Correct. Which means the cash flow per month on your paycheck. Well, that’s all it is at the end of the year is you just put too much into taxes and so they give it to you at the end of the year and most people end up blowing it.

[00:11:10] Cars, tattoos, trips, tattoos. It’s not, It’s true thing. No, I know. Well, that’s very true. It’s very true. Gambling and gamble, sports betting on your own money that you’re just gonna waste. Yeah. When, if it’s on a month to month deal, Right. You’re probably gonna utilize it for so. Hopefully better your financial plan, some investment, and hopefully just not wasted.

[00:11:36] So what can you say to the audience that are out there that are getting these big refunds? I mean, I’ve seen some at six and seven and I about cried for them. Six and seven what? Thousand dollars. Oh, got it, got it, got it. Refund. Um, not to mention like the last two years they’ve been late because. There’s just a lot and the iris has to hire more people outside of that, what are some things that you can say to help people overcome this mindset?

[00:12:06] Ryan Hall: Well, I mean, I think the first thing, and we were talking about those adjustments, and I’ll kind of go back a little bit, is you don’t have to just say, Oh, well I just have to choose this, and it automatically happens. You can ask your hr, Hey, what does it look like if I claimed this many more dependents or this many more dependents?

[00:12:22] And you can get those numbers. Bring them back to your tax professional, bring them back to your planner so then you guys can plan accordingly and get that number as close as zero. You don’t just have to dive in head first and with no knowledge of what it’s gonna look like in 

[00:12:36] Lisa Grefe: the future.

[00:12:41] I love it. Sorry, I was just thinking, so I’m, I’m trying, I’m still trying to understand this, so dependence, cause I just wanna make sure the audience knows this. So I think the first thing you think of is, But you guys are saying you have another person in the house. You could add them in the house. 

[00:12:58] Stoy Hall: As a dependent, It’s actually about the household and really it’s a fictitious number.

[00:13:02] You can put six, seven in there, right? Even if you have two, you could add that up. I 

[00:13:06] Lisa Grefe: think that’s where people maybe get stuck is say, I have only one kid, right? I have two kids. I don’t have any kids, but there’s three people in, but there’s another person in my household. So they haven’t been thinking in 

[00:13:16] Stoy Hall: that regard.

[00:13:17] Well, they also figured about themselves cuz it’s about the amount of, It’s about the amount of people in your household. That’s what’s dependent on, Right? Right. It’s not the true definition of like dependent. It’s who in the household is dependent on the income and it’s everybody. 

[00:13:32] Lisa Grefe: That’s kind of the first mind shift I would see is thinking about it in a different 

[00:13:36] way.

[00:13:37] Stoy Hall: Sure. Let’s see. What’s your opinion or fact? I don’t care. Throw a fact out there. I guarantee God compliance is going to eat me for that one. Yeah, they totally are. 

[00:13:51] Lyndsey Monahan: So, what was the question 

[00:13:53] Stoy Hall: again? ? What? What can you do or say to help people overcome this mindset of, Hey refund. Yay. It’s March or April. Or May or June when I get it.

[00:14:04] Yeah, 

[00:14:04] Lyndsey Monahan: so I think one of the biggest things is obviously cash flow is super important to most people, right? So when you think about that, this is a quick and easy way to put cashflow back into your household, right? So, I mean, it’s not. I would guess it depend largely depends on what you make, right? It may not be a significant amount of cash, but in some cases it could be.

[00:14:27] Especially if you’re, If you’re somebody that is a W two employee and you’re claiming zero, I would definitely take a look at that and changing your W four deductions, because that can make a big, pretty big impact on your household in your cash flow every month. Me personally, I’d rather have the cash flow every month than let the government use my money, 

[00:14:45] Stoy Hall: so, Right.

[00:14:47] I mean, and. One, your personal opinion, but also professional opinion because when we have more cash flow to build your plan, the better it is for you, right? We’re not trying to do better for the government when it comes to your personal stuff. And I believe this comes back to our concept of we need to create more income and quit focusing so much on the expenses, right?

[00:15:08] This is a very easy one cuz you’re not really even creating more income, you’re creating more cash flow in actually using your. As opposed to, you know, letting someone else use it for a very, very, very long time. And then you see it as a bonus, and then the bonus gets thrown away, right? Yes. A bonus, we would agree in some people’s plans.

[00:15:27] Part of your bonus should be for fund, this is not a bonus. This is your income, and this is what you depend on on a monthly basis. So you need to change and transition how you look at this as it is actually your income, not play money, first of all. Mm. . And second of all, you need to get as much as of it now, so that way you can build out and get ahead.

[00:15:49] And I think you’re a hundred percent right, Lindsay, on if you’re claiming zero or even one. And you, even if you’re an individual without kids, think about two, three, or four. Um, and the reason for that is because you’re probably living paycheck to paycheck, right? Well, technically you are. We all are, but you’re really living.

[00:16:08] Below your means. Probably that little transition could be as much as 50 or, um, what was, uh, one of our clients that we did the, it was like five, $600 Yeah. A month. Um, for them doing it, it could be $50 a paycheck, $500 a paycheck, a hundred dollars a month goes a long way in getting ahead. Um, again, that is the mindset around getting more cash.

[00:16:33] You also still have to take advantage of your money mindset overall, so that way you don’t get that hundred and then go, go 

[00:16:40] Ryan Hall: waste it. Well, and and I think some people to go along with like the claiming zero, claiming one. I think in the case, the case that you’re talking about, They were just more nervous that they were gonna have to pay into taxes at tax time.

[00:16:54] Right. So people get so nervous around those that they don’t want to claim as many dependents. So then they’re like, Well, if I get a refund, great. Because that means that I don’t have to give, give the government more money when it comes to tax time. Yeah. Right. 

[00:17:09] Lyndsey Monahan: So can we, I have 

[00:17:10] Stoy Hall: a question. Oh, she’s stepping.

[00:17:13] Lyndsey Monahan: I am seven up. So what happens when I get my big bonus check every month? Should I adjust my W four deductions at that time also? 

[00:17:23] Stoy Hall: Um, I mean, yeah, absolutely. If you know you have, like say for example, it’s February, um, we got a client that always gets a big bonus at the end of February, beginning of March.

[00:17:32] You know that that’s when it comes, right? Uh, this will be a very great time to up your dependence on your W four. So you get more of that bonus now. And not more taken out on taxes of it. I think that’s a, a very good point there.

[00:17:49] Lisa Grefe: And you can adjust these at any time of the year? Well, 

[00:17:51] Stoy Hall: it depends on your hr, but typically like every paycheck, you could, if you really wanted to. I know I’ve seen some that you only can adjust monthly. Um, some are quarterly. Mm-hmm. But that’s gonna depend on your, your company. Mm-hmm. . But 

[00:18:05] Lyndsey Monahan: it’s easy to make that change.

[00:18:06] Oh yeah. It’s not challenging. 

[00:18:08] Stoy Hall: No, it’s really easy. Yeah. 

[00:18:09] Ryan Hall: Lindsay, No, that’s a, that’s a great point. Bringing up bonuses because people see this massive bonus, but then they also see this huge tax liability that, uh, that comes with it. So that’s a great point in bringing that up. 

[00:18:26] Stoy Hall: So taxes. So I can, It’s they’re, they’re not good.

[00:18:33] It’s not, it’s not fun. Um, but we do want everyone to know that we are going to have the expert on next week. Yeah. So if you do have questions, email him and tweet us all the things that Ryan will talk about later with the socials, and we’ll be sure to ask him those specific questions. Now, if it’s pertinent to your numbers and your financial situation, we’re probably gonna answer more vaguely, uh, because.

[00:18:57] One, compliance into everyone situation’s different. Right. Privacy, you know, privacy issues, at least the hip. We’re not breaking hippa, so that’s good. No. Um, but we’ll, we’ll ensure to, to do that as 

[00:19:10] Ryan Hall: well. Yeah, no, I’m, I’m actually excited to get Brian on here and just for the fact that he’s very, very different than a lot of tax professionals and CPAs.

[00:19:21] You know, enrolled agents, whatever you wanna call him, uh, he’s very, very different. So I’m excited to hear some of those thought processes than how he’s working with clients to, you know, maximize deductions, pay as little in taxes as possible, cuz he wants to use that code for us, not for the 

[00:19:36] Stoy Hall: government.

[00:19:36] Absolutely. . And I think, um, if we think about the big concept of, of taxes, right? Taxes are supposed to be for roads, schools, um, fire, police, all of those things, right? And I, I, I truly believe as Americans that we want those, we care for those. We’re not saying that we’re not trying to pay for those, right?

[00:19:57] That’s not what we’re saying. What we’re saying is, uh, United States tax code. complex. I, I don’t even know if that’s a strong enough word. Um, I really don’t know a strong enough word for how complex ours is, but a lot of it comes down to the programs that a lot of people would rather put their money towards and decide for themselves.

[00:20:18] Right? In America, we can do a lot of things for ourselves and decide for ourselves and that freedom. is why a lot of people say, I don’t want to pay as much in taxes cuz I would rather determine where my dollar goes than our government putting it toward things that I don’t believe in. And we’re lucky enough to be free to do that.

[00:20:35] But I want everyone to know that like your property taxes still go to pay for schools and all that. Like that’s still there. You’re not getting out from that. That’s not just gonna disappear. And all of a sudden, you know, we’re not gonna have schools anymore. Because that’s, you know, what a lot of our property taxes are for, but I think it’s important for people to understand that and realize that what we’re talking about isn’t that stuff correct, but it’s reducing that.

[00:20:59] So you can do something with your own dollar and you are in control. There’s nothing to be scared of with IRAs, and that’s something I’ve learned a lot mentally in the last four or five years with specifically with Brian, is you might get a notice in. Which I got like four of last year. Remember those for no reason?

[00:21:15] What did they say? You owe this. Oh, okay. Uh, you owe that. Uh, we don’t have this documentation and yet everything that we’ve sent is factual, right? The reason for that is IRS is very automated because there’s way too many people and not enough people working for the irs, right? Mm-hmm. . And so a lot of things are just automated and you’re gonna get a lot of automated things and it scares people, and they’ll just send the money.

[00:21:40] Um, one, that’s another reason to have an accountant, by the way, because if don’t just send the money. Don’t just send, never. Just send. Well, don’t, I mean, let’s just tell us, just send, Okay, . Um, but truthfully, just don’t do that because if you have an accountant, you can just be like, Hey, and they’ll be like, It’s just an automatic note.

[00:21:56] Don’t worry about it. If you get another one, don’t worry about it. If you get a third one, Okay, let’s call in third 10th charm. Um, and that’s exactly, that’s how the 

[00:22:04] Lyndsey Monahan: IRS ask questions. I think that’s the most important thing to know. Like they’re not gonna pick up the phone 

[00:22:08] Lisa Grefe: and be like, Hey, 

[00:22:09] Stoy Hall: Lindsay, right?

[00:22:10] Yeah. They have to send you a letter. They do. And then you call in and figure it out. And it’s usually not as, as bad as you think. Um, even the ones that you get that say you owe this much and. Like fees because you haven’t responded or you didn’t pay your taxes in 2020 when you know you clearly did. That happened to me.

[00:22:30] Um, and so you just prove it. You say, Here’s snapshot, my bank count. I paid you. and it all goes away. All of those reversed fees, they’re not there. And then they give you money back. Right? And then all of a sudden you get a check and you go, I don’t know what happened. I thought I owed you, but then you, okay, nevermind.

[00:22:45] I’m gonna let you do what you do. Irs, . Yeah. We’re just gonna keep track of it and send in the things to to verify. But it’s very important that for those complexities, right, Just people who have one child, that you do have a cpa. Because when that happens, their job is to go. Fight IRS for you because they’re the ones who came up with these concepts, wrote it out.

[00:23:07] They have liability there too, and they can defend you because you’re not the expert, nor should you be, nor will we be, 

[00:23:14] Lyndsey Monahan: you know, also help you keep records. I think that’s important too. Yeah, . 

[00:23:19] Stoy Hall: Yeah, absolutely. You should see, you should see this office with all the paper and all the cloud storage. All the folders, and all the folders of just like years and years and years of stuff.

[00:23:29] And you’re like, 

[00:23:30] Ryan Hall: Lindsay, you made a good point there. And this is kind of a little bit, um, off kilter, but. The IRS isn’t gonna call you guys. So if you do get one of those calls and somebody’s asking for your social security number and random stuff like that, don’t do that. Don’t do that. Um, some people, I I, I’ve heard of people in the past saying, Hey, yeah, I gave out this number, or I gave out this information on accident.

[00:23:52] Did this on accident, and it’s just identity theft stuff. So the IRS is not gonna call you guys. Just fair warning 

[00:23:59] Lisa Grefe: on that. Oh yeah. There’s a lot of scams out. 

[00:24:02] Stoy Hall: Absolutely growing. I think on their website it even says, We won’t call you , so let’s just follow what they say. Yeah. Don’t be scared of them. Right.

[00:24:12] Um, and that’s, that goes for a lot of audits. Uh, I know I’m speaking to a lot of this is very blanket statement with audits. Oh yeah. Audits aren’t designed to be scared. They’re designed to get you right back on track. Kind of like when we do budgets for people, it’s not designed to scare you, it’s designed to keep you on track within parameters that don’t give you off kilter.

[00:24:34] And well, the audits for doing illegal things for us, it’s not, you know, well, I guess technically illegal. Don’t spend your money on stupid things. Same thing. Um, but I think that’s where the mindset we gotta get everyone into is all of these programs are designed to help you get ahead if you stay.

[00:24:52] Boundaries. Fraud boundaries, legal boundaries or scrupulous spending habits. Right. So one final thought from everyone. It can be not even about taxes, it can be about anything at this point. . Um, what final thought do you have to end today’s episode? 

[00:25:14] Ryan Hall: We haven’t plugged it yet, so get a planner. Oh yeah. . We haven’t plugged it 

[00:25:18] Stoy Hall: yet.

[00:25:19] Get a. Any text person 

[00:25:22] Ryan Hall: if you wanna go back as well, uh, since she gets to be in every single episode that we ever mention and talk about hiring professionals. Shout out Cheryl . There you go. She’ll talk about hiring professionals and the importance of hiring professionals. So that’ll be a good episode to listen to as well, to supplement with this.

[00:25:39] For sure. 

[00:25:40] Stoy Hall: For sure. , we just, we gotta go like a hundred percent. We gotta do this for years. Oh yeah. Episode 2000. Uh, at Cheryl, You, Cheryl. True. 

[00:25:52] Lisa Grefe: Uh, I think I’m gonna leave today feeling better about taxes, cause taxes, I don’t get good feelings about taxes. Just something I wanted to avoid, which I feel like a lot of people think the same thing.

[00:26:04] So I’m gonna leave today. I mean, a better mindset about taxes being more proactive, more conversations, thinking about ways I can reduce what I need to reduce so I can take home more pay. Send that to the audience so they can, they can start that journey too. 

[00:26:22] Lyndsey Monahan: I know this is the wrap up portion of this, but I am gonna say this, You should hire a professional and when you hire that professional, you should send that professional your last at least two years worth of tax returns to see if they can help you with some of your previous tax returns to make some changes and adjustments for you.

[00:26:43] And please know that the IRS is not scary. They’re just doing their job. They have a job to do, just like you and I go to work every day. They have a job to 

[00:26:50] Stoy Hall: do. That’s what they do. Absolutely. And I’ll leave everyone with, um, I’m just gonna go back to Money Mindset to create more income. Focus on creating more income, stop being so stuck on your expenses and not bringing enough and not having avenues.

[00:27:10] Really focus on bringing in more income as simple as changing your w. Um, or hiring someone. I know it’s an expense, but hiring a professional, ie. Planners like us, cuz we’re awesome, uh, will help you start to build towards that and to make sure that you’re not in that mindset of avoiding taxes, which is a federal offense.

[00:27:36] Jail. Learned that one 

[00:27:37] Lisa Grefe: last time. Well, I didn’t mean avoid, avoid , I just meant mentally I was avoid avoiding . Said, say avoid, kept clarifying. Just said avoid. I’ve clarified iris

[00:27:50] Stoy Hall: I’m not saying it out loud, I’m just, I’m just saying that someone said avoid at attacks in the same sentence. Um, to really change that, really focus hard on being able to flip that switch. And if you. Obviously we’re here. Uh, listen to our podcast, follow our socials, all of those things, because that mindset, once you switch, that will start to change your life and you will go places that you never thought you could.

[00:28:12] Ryan, 

[00:28:13] Ryan Hall: as always, everybody, we appreciate you like, subscribe, follow, share, um, on basically everything, social media, uh, YouTube, Spotify, Apple Podcasts, wherever you guys listen to podcasts. Instagram, Twitter, TikTok, all the above. You’ll see some reels as well. And, uh, the episode, This episode will come out, uh, next Wednesday.

[00:28:35] So, I don’t know what Wednesday. This is where we’re, It’s February. It’s, it’s the 7th of February right now. So not this Wednesday, but the next 

[00:28:43] Stoy Hall: week, the 16th. It’ll come out on Wednesday the 16th, 

[00:28:45] Lisa Grefe: right after Valentine day. It’s perfect. And 

[00:28:47] Ryan Hall: then, uh, and then stay tuned for next week, uh, with his taxes. We’re just plugging Brian in right now.

[00:28:53] Uh, he’s gonna be on next week and he’s gonna go through all the. All the fun things with you. You 

[00:28:57] Stoy Hall: know what’s really great is we’re bringing Brian in on Valentine’s Day. What I’m saying, he loves taxes. Do you get it? Loves, See what we did there on purpose, right? I need some more buttons that have something to do with Val.

[00:29:08] Yeah. Okay. Please send 

[00:29:09] Lisa Grefe: us 

[00:29:10] Ryan Hall: first. Yes. Yes, absolutely. That’s a good point. Lindsay. Send us questions, email us, uh, comment and comment sections, DM us whatever you need to do, uh, to get those questions for us next week. We’ll be sure to, uh, try and ask ’em and. Uh, inconspicuous as possible with names and everything like that.

[00:29:27] And if there’s some numbers, maybe we’ll do an example if possible. Um, but just let us know what you guys have questions on. All right. 

[00:29:36] Stoy Hall: So,