Today’s topic, of course, is about the tax rules. We think tax education is important because paying taxes for government services is a core organizing principle of our society. It is doesn’t need to be shrouded in mystery. I also do workshops such as this one because over the years I’ve seen people and families make poor decisions about their taxes, investments, and financial planning. Those poor decisions make the job of any financial advisor tougher because we have to find ways to make people’s savings, investments, and financial plans work harder to overcome the consequences of those decisions.
So that’s why my goal today is to inform you about the wide range of changes to the tax code, so you have enough information to start the process of seeking out assistance on what all these changes mean to you and your own tax strategy. My other goal is education. Taxes can seem complex and jargon-filled, even though the underlying concepts are fairly straight forward. So let me take a second to explain how this workshop will unfold. 2020 was particularly challenging because COVID-19, the possibility of enhance unemployment and do I qualify for an Economic Impact Payments depending on your income. Now the American Rescue has taken those issues to another level.
Joining us for this discussion on Taxes For 2021 is Markeith Gentry who is the station’s Production Assistant and makes sure Mastering Your Money is available to our listeners. Welcome back to Mastering Your Money, Markeith Gentry