578: Holistic Tax Planning: Save Money As an Entrepreneur Using Health Insurance, Life Insurance, and Income Strategy with Money Geek Michael Dinich

Michael Dinich is the founder of Your Money Geek and he helps people retire early by reducing taxes, fees and costs. He blogs about personal finance and he’s here to share the latest tactics, tips and strategies entrepreneurs need to know about regarding personal finance, tax planning, life insurance and health insurance.

Quotes:                                                                                                                                   

“Dollars are not merely money; they represent moments you exchanged for a better future.” – Michael Dinich

“The tax code is more complicated than many people realize, with various phase-outs, exemptions, and factors based on your income.” - Michael Dinich

“Life often unfolds in the middle, but balanced and fair headlines don’t usually attract clicks.” - Michael Dinich

Takeaways:

01:39 Tax planning should be a year-round strategy, not just a once-a-year event during tax season.

03:56 Entrepreneurs need flexible financial strategies that adapt to changing income levels and business conditions.

14:05 Health insurance costs can be significantly reduced by carefully managing your modified adjusted gross income.

20:25 Finding the right financial professional requires research and understanding your specific business needs.

22:10 Life insurance offers more than just a death benefit - it can be a strategic financial planning tool for retirement and business financing.

Resources

Podcast: Play in new window | Download (Duration: 29:05 — 26.7MB) | Embed

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Filed in: Archive 3: 2018-2020 • Interview • Money • Podcast

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