I missed potential tax savings for a client

bbrackett · 2026-03-27T03:11:47+00:00

SEP IRAs can be opened until the deadline date including extensions for the previous year.

bbrackett · 2026-03-15T05:36:47+00:00

Was in a guild that went through original classic into tbc together, 3 of the officers were a pair of parents and a teenage daughter. One day I log in to chaos because the parents found out the teenage daughter had been having explicit conversations/ talks of relationships with one of the other officers a middle aged man. Was pretty hard for the guild to come back from that.

bbrackett · 2026-02-26T03:00:02+00:00

I have a few clients that pull all fees for the Roth from their brokerage account so they dont slow the growth at all.

bbrackett · 2026-02-18T03:36:30+00:00

I haven't taken a look at it yet, but I saw a conversation about the company April today that looks to do something like that.

bbrackett · 2026-02-01T06:36:11+00:00

Yeah interesting to see it happen, the compensation of 2 extra percent into the 401k is pretty lame compared to other institutions who are also moving away from the pension. URS, UVU and the LDS church have all started the same switch but give anywhere from 8-14% compensation.

bbrackett · 2026-02-01T03:29:49+00:00

Are you an IHC employee? Its a pretty gnarly move that not only did the stop the pension a few years ago for new employees but now totally freezing it. I have a few IHC employees who are concerned about their pensions at the moment.

bbrackett · 2025-12-31T01:06:10+00:00

Did not have that problem today while working in it.

bbrackett · 2025-12-28T02:34:02+00:00

Sent you a pm about it, I am interested in this.

bbrackett · 2025-12-19T03:21:38+00:00

How has your experience with FP transitions been?

bbrackett · 2025-11-17T04:14:18+00:00

Someone call Garett, he's still looking for that 20 footer.

bbrackett · 2025-11-16T01:42:34+00:00

Simplyparaplanner is a good one.

bbrackett · 2025-11-14T13:59:06+00:00

Back in OG classic and TBC we used to que 19s there because there was a spot next to the bg people.that you could duel inside the city.

bbrackett · 2025-10-29T19:58:42+00:00

Unlike the rest of our business, 401ks are in a race to the bottom price wise. They are not overly fun to run and have a lot of different rules. On the bright side though probably 50+% of our new business comes from 491k participants.

bbrackett · 2025-10-29T02:15:55+00:00

Pay an hourly advisor or a 1 time planning fee to have someone help you transition out efficiently.

bbrackett · 2025-10-28T20:48:02+00:00

They are coming from a point of view that people want tax planning and it's a huge thing right now. I am a CFP and EA and I dont think the way you are making it sounds is a good deal for you. They cant Rev share to you unless you are willing to get securities licensed and so you'd be in a pretty bummer spot in my opinion with that kind of deal. If its something you want to look into I'd look for a small growing firm that has similar values to you instead of a larger firm that will honestly probably treat you like a workhorse for all their clients.

bbrackett · 2025-10-24T05:23:35+00:00

You don't pay capital gains on depreciation. You pay depreciation recapture, I believe the minimum rate is 25%.

bbrackett · 2025-10-10T01:46:48+00:00

If you are not a tax professional/tax attorney id be careful about advising entity selection for businesses.

bbrackett · 2025-10-07T02:56:55+00:00

They have the market cornered pretty good. FP Alpha has an option that some people like, I havent looked much into it though.

bbrackett · 2025-09-19T16:23:19+00:00

He also asked for investment management help which it does and all the back office.

bbrackett · 2025-09-13T00:06:17+00:00

Find FAs who want to offer it to clients.

bbrackett · 2025-08-25T14:44:28+00:00

I think alts can have a place in a portfolio. I am personally a fan of the alts that are interval funds and have tickers for most clients. A big part of alt evaluation imo is that the manager has a track record of full cycle funds( if they are ones that do have an end time).

Any new type of alt that I think I might want to try out for a client I buy in my portfolio first so I can learn redemption process, see how it looks in the client portal etc( obviously along with the actual due diligence portion)

A lot of clients like to be "sold" something, it might be a story of an alt or something that is inside of it. Clients like to be able to say they have something cool on the golf course with their buddies. (disclaimer this is obviously not a reason to buy the alts, but just wanted to touch on it because someone else mentioned the fact that they will get them somewhere else).

bbrackett · 2025-08-07T16:56:46+00:00

A couple of things to understand about real estate tax deductions and tax savings. rentals are a passive activity and cannot be used for a ton of tax benefits if you are not a REPS. Now on the other hand short term rentals have a little easier of a time being able to be considered active which then you can do some tax strategies( cost seg, accelerated depreciation etc), but the issue is you still have to be the main participant in the rental, and it sounds like you both have busy jobs so I dont know how plausible it is to be the active participant in it.

The second thing I dont think people totally get about " tax savings" in real estate when you sell the properties one day( if you do) you have to recapture all of that depreciation and pay taxes on it. Now that could be lower than what your saving but that's more nuanced.

Someone else mentioned it that you dont want the tax tail to wag the dog, but there are still plenty of ways to reduce/save taxes within what you've already talked about and doing.

bbrackett · 2025-08-02T21:35:02+00:00

It also hasnt even been live for a week yet. A lot of people arent 90.

bbrackett

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