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MLB Draft PodcastIt's hard to encapsulate the excitement surrounding the MLB Draft. Author: AWM Capital, Erik Averill, Travis Chick, Will McGuffey
It's hard to encapsulate the excitement surrounding the MLB Draft. Years of hard work, sacrifice, and dedication all point to this one day of becoming a pro. However, it can be hard to figure out how to navigate the process. The MLB Draft podcast is the only podcast dedicated to preparing athletes entering the MLB draft, and includes interviews from some of the top athletes in the MLB, how to build your team of experts, and how to prepare for draft day. Language: en Genres: Baseball, Business, Investing, Sports Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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The Difference Between Tax Planning & Tax Filing | MLB Draft #10
Episode 24
Monday, 3 April, 2023
Taxes are one of the biggest destroyers of wealth. Misconceptions about taxes are everywhere, and you often hear many of them daily. Below are a few examples we often hear:Getting a large tax refund is always a good thingMy CPA did a good job if I got a bigger tax refundApril 15th is the most important date in the tax world“Tax Planning” and “Tax Filing” are the same thingNow for some truths that everyone should understand:You actually want to get back $0 or owe money (not penalties and interest) when you file your taxesDecember 31st of the prior year is the most important date in the tax worldTax Planning is done throughout the year and has a major impact on what happens when you file your taxesBeing reactive when it comes to taxes can cost you thousands (sometimes millions) of dollars throughout your lifetimeYou should have a Family Office that throughout the year proactively integrates your Tax Planning with your Financial PlanResidency, 1099 income, MiLB 401ks, team assignment, contract language, duty days; your situation is unique, and the complexities you face are different than most people. Luckily, there are answers available if you start your Tax Planning now. If you have questions about your situation or would like a free consultation, please text or call one of our Private Wealth Advisors to help you know what your next steps should be.Travis Chick – (903) 714-7951Josh McAlister – (505) 239-5488Will McGuffey – (225) 326-0992
