“Play by the rules, but be ferocious.” – Phil Knight
As we welcome the start of another promising year, it’s not just about making resolutions but also about making wise decisions—especially when it comes to our finances. That’s why Generosity Wealth Management is stepping in to shed light on a crucial part of your financial journey: tax planning.
In our latest video, we invite you behind the scenes with Michael Brady as he guides you through the early stirrings of the tax season. Discover the critical steps you should take now to ensure a smoother, more beneficial tax return process. From understanding the significance of your 1099s to preparing your documentation, this video is your first step towards fiscal responsibility in 2024.
But that’s not all. Generosity Wealth Management goes the extra mile by offering an exclusive opportunity. Once your taxes are filed, we invite you to share your return with us. Utilizing advanced Optical Character Recognition technology, our team will meticulously analyze your documents, helping you strategize and make informed tax decisions for the upcoming year.
And if you’re not yet a client? Consider this your invitation. Share your completed tax return with us, and let’s explore how our savvy tax planning can set the stage for a prosperous year. Your financial well-being is our priority, and it starts with making smart moves today.
Dive into our video now and take the first step towards a financially secure future.
Transcript
Hi there. Mike Brady with Generosity Wealth Management, a comprehensive, full-service financial services firm headquartered here in Boulder, Colorado.
Today, I want to talk about taxes. First, I want to talk about the logistics of it before we talk strategy. The logistics, especially for my clients, are that the first 1099s will start going out around February 1. Whether you get them electronically or they mail them, the first ones go out around February 1, and then every two weeks, if you haven’t gotten it they send out another draft copy. If you’re confused by anything that I’ve said so far just send me an email. My email is up on the screen and Felicia and I will walk you through or even compile on your behalf what you need and send it to you or your CPA as a package. We want the tax document collection to be a stress free event. If you’ve got three, four, ten accounts with me it doesn’t matter with different registrations. We’ll tell you, Hey, I have these different ten accounts. You should be receiving three or four, and here they are. Or we might say you need three or four documents. Two of them are ready, and two of them are still waiting. Because of complex reporting requirements, some 1099s don’t go out to clients until February or March, which is kind of irritating because you want to get your packet together and get it into your CPA, but that’s the reality. Many 1099s are done right at the beginning of February, and then there are a few stragglers that for whatever reason sometimes clients haven’t received them going forward even into March. Be patient, don’t get frustrated. Give me an call or send me an email and Felicia and I will get you hooked up to tell you what the status is.
The second thing I wanted to talk about is this really cool report that I have and I’d love to offer it to all my clients as well as people who are not my clients but are watching this particular newsletter. Once you get your 2023 taxes done I will provide you with a link so that you can upload it to me and I will have this optical character recognition, or OCR, and it will convert that into my computer into this wonderful little spreadsheet. It will tell me everything about your tax returns and even some areas that we could have a conversation for tax planning within the year 2024. What I like at the end of that conversation is I’ll go over it with you once I have your tax return for 2023 and say hey listen, let’s understand what the present situation is and then we have two or three or four different avenues for looking at hey, maybe we can save some taxes here or we could do a conversion over here, et cetera. Just so we can have the conversation as 2024 unfolds. Please take me up on that. It is free and I’d love to talk with you, I’ll talk with your CPA, your tax preparer so that we’re all on the same page.
Most people’s single biggest expense is taxes, but they don’t understand their taxes. They don’t under what options they might have before them, and that’s what I want to do is help you so you can have that conversation with your CPA or we can loop in your CPA and have that conversation together.
That’s it for today’s video. I just wanted to let you know 1099s are coming down the pipeline. They’re going to arrive in February and March. If you have any questions send me an email or Felicia and we’ll get you hooked up. If you’ve got your 2022 we can do it immediately. We can look at what your 2022 taxes were, but definitely when you get your 2023 done send it to me so that we can have a really good conversation and do some tax planning.
Mike Brady, Generosity Wealth Management, 303-747-6455. Have a wonderful day. Thanks. Bye-bye.