Year End Checklist for Your Money, Taxes, Points and Miles

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 14 December 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#92: Chris shares his list of the top year end optimizations to consider for your taxes, money, points and miles. That includes tax-loss harvesting, charitable deductions, retirement contributions and FSA/HSAs. It'll also cover taking advantage of all your annual credit card credits and perks. Full show notes at: https://allthehacks.com/year-end-money-taxes-points-2022 Partner Deals Masterworks: VIP access to skip the waitlist Pacaso: Free early access to listings and $2,500+ in closing credits Rocket Money: Easily cancel your unused subscriptions Athletic Greens: Free 1 year supply of Vitamin D and 5 free travel packs Daffy: Free $25 to give to the charity of your choice Selected Links From The Episode Taxes/Investing Gelt: Tax planning service (skip the waitlist!) Gelt Tax Guide: Tax Concepts Worth Knowing During a Recession All the Hacks Newsletter: All About Investing Part 2 Donor-Advised Fund Definition Daffy: $25 to towards a charity of your choice Tax-Loss Harvesting Wash-Sale Rule Series I Savings Bonds Opportunity Zone Investing Wealthfront: $5,000 managed free Grail test: Detect Cancer Early Augusta Rule: Tax Rules for Renting out Your Home Points/Miles/Credits FlyerTalk: Example Forum Page for Southwest Credits American Express Platinum: $200 Airline Credit | $200 Prepaid Hotels | $200 Dell | $50 Saks | $15/mo Uber ($35 in Dec) | $20/mo Digital Entertainment Saks Credit Ideas: Aesop and Mack Weldon Underwear Amex Gold: $10/mo Dining | $10/mo Uber Chase Sapphire Reserve: $300 Travel | $5/mo DoorDash | $10/mo Gopuff Capital One Venture X: $300 Travel Hilton Aspire: $250 Resort Credit | $250 Airline Credit | Annual Free Night | Complimentary Diamond Status | 150,000 point signup bonus Full Show Notes Introduction to this week’s episode (00:00) Should you take the standard deduction or should you itemize? (1:25) Accelerating or deferring income (3:59) Charitable donations (4:56) Donating appreciated assets (5:37) Donor-advised fund (7:28) Tax-loss harvesting and common index fund pairing (8:39) Selling crypto at a loss/abandonment loss (10:57) Opportunity zone investing (14:40) I-Savings Bonds (15:17) Stock options/ISOs (16:45) Retirement accounts (17:37) Contributing to a 529 account (19:38) Use up the money in your FSA account (20:37) Max out your HSA account (21:31) Energy efficiency upgrades (22:11) EV tax credit (23:12) Hired as a business vs a W-2 employee (23:27) Business owner tax optimizations (24:52) HSA/FSAs and the Augusta Rule (30:19) California municipal bonds (32:31) End-of-the-year housekeeping: points and miles (32:54) Chasing flight and hotel status (34:05) Taking advantage of benefits/upgrades/lounge access passes (35:14) Hotel, credit card, and airline credits (35:39) Credit card: travel credits (38:42) Benefits included with the American Express Hilton Aspire card (39:18) San Francisco event (40:47) Connect with All the Hacks All the Hacks: Newsletter | Website | Facebook | Email Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Transcript

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0:00.0	Hello, and welcome to another episode of All the Hacks, a show about upgrading your
0:05.9	life, money, and travel.
0:07.7	I'm your host Chris Hutchins, and every year as we get closer to December 31st, I start
0:12.5	to make sure I've done all the right moves for my money, taxes, points, miles, and more.
0:17.8	So I thought I'd put together an episode to share with all of you what that actually
0:21.5	means.
0:22.5	There's a lot of good content that I hope can help you all be more optimized this year.
0:27.2	And when it comes to all the tax topics, I want to give a big shout out to Talbinder,
0:31.1	the founder and CEO of Gelt, a tax planning company, that I was so impressed with when I met
0:36.3	Tal and I heard all of his tax knowledge that I knew I had to invest a small amount in
0:41.1	the company.
0:42.1	And since then, I've become a paying customer of their services for my personal and business
0:46.4	taxes.
0:47.5	And Tal spent 90 minutes giving me feedback and advice for all the content in this episode,
0:52.2	which was so helpful.
0:53.7	However, full disclosure, I am not an accountant or a CPA, so you shouldn't take anything
0:58.9	I'm about to share as tax advice.
1:01.1	And if you do want tax advice, talk to your own accountant, or if you want to check out
1:05.1	Gelt, you can schedule a call with their team to learn more at allthax.com slash G-E-L-T.
1:12.3	Note that they are not a sponsor that is not an affiliate link, but Tal did say that
1:16.7	he'd let anyone that comes from all the hacks skip their way list.
1:20.5	Okay, let's get into the episode right after this.
	...

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