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The "Big Beautiful Bill" Explained for Practice Owners
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Download a free copy of "How to Become a Financial Beast" by Eric Miller at www.financialbeastbook.com.
Discover how the "Big Beautiful Bill" that just went into law will aid practice owners on their tax returns and what are the downsides. In this episode of the Financial Beast podcast, Eric Miller, co-owner and chief advisor at Econologics Financial Advisors and Eric Gersch, Advisor, break down the key points of this bill that will benefit practice owners. From some tax cuts to increased standard deductions, qualified business income (QBI) enhancements, and even new tax-saving opportunities like the auto loan interest deduction, you’ll learn how to maximize the value of these changes to build your personal wealth.
Are you ready to take back CONTROL of your finances and create a path toward true financial freedom? With expert financial training tailored specifically for practice owners, you’ll uncover strategies to minimize taxes, pay yourself what you deserve, and invest in your future with confidence. Whether it’s understanding estate tax exemptions or turning inflation into an opportunity, this episode empowers you to become a Financial Beast.
Econologics Financial Advisors specializes in helping healthcare professionals achieve their financial goals with trusted advice and proven systems. Don’t miss this chance to gain the knowledge you need to secure your financial future and weather any economic storm.
Subscribe now and share this episode with your network to help others achieve financial freedom!
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CHAPTERS:
00:00 - Intro
00:53 - Welcome Back
02:08 - Understanding Tax Brackets
04:51 - Exploring Standard Deduction
06:57 - Overview of Estate Tax
09:06 - Senior Bonus Tax Deduction
11:42 - Auto Loan Interest Deduction Explained
13:39 - No Tax on Auto Loan Interest Benefits
14:32 - Trump Accounts Overview
17:50 - Understanding SALT Deduction
19:40 - Funding Future Expenses
22:00 - Addressing Inflation Issues
24:00 - Deficit Spending Insights
24:30 - Preparing for Inflation Strategies
26:13 - Final Thoughts and Summary
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Econologics Financial Advisors, LLC (‘EFA’) is registered with the Securities and Exchange Commission as an investment advisor. (Such registration does not imply a certain level of skill or training.) EFA provides investment advisory services only in states where it is permitted to do so under state laws and only to the extent permitted thereby. This communication is not an offer to sell or effect any transaction in securities. Neither EFA nor its affiliates provide legal, tax or accounting advice. Please consult a qualified attorney or accountant. Results are not guaranteed and will vary depending on the specific circumstances of each individual and on other factors.
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