Taylored Tax

In this episode of the Taylored Tax Show, hosts Terrence Taylor and Big Al Darnell Jr. kick off a new series focusing on taxes and retirement. As enrolled agents and co-founders of Taylored Tax, they share their strong opinions on conventional retirement savings vehicles such as 401(k)s, IRAs, 403(b)s, and Thrift Savings Plans (TSPs). Big Al expresses his skepticism about these traditional account...

On this episode of the Taylored Tax Show podcast, Terrence Taylor and Big Al discuss tax lessons from Heath Ledger's estate plan. They explore what Ledger did right, what he could have improved, and share valuable tips on estate planning. Listeners are reminded to consult with tax professionals and estate planning attorneys before taking any action based on the podcast's information. Tune in to le...

On this  episode of the Taylored Tax Show, Terrence Taylor and Big Al delve into the importance of estate planning using the case of legendary artist Prince as an example. They discuss how Prince's estate, valued at $156 million, incurred $87 million in taxes and legal fees due to his lack of a will. The hosts highlight the costly consequences of not having a proper estate plan and emphasize the s...

In this episode of the Taylored Tax Show, Terrence Taylor and Big Al discuss the tax implications surrounding Michael Jackson's estate. They delve into the ongoing legal battle between Michael's mom and son regarding the estate's valuation and asset sale. Listeners will learn valuable lessons and tax strategies from this high-profile case to help them save on taxes legally. Tune in to uncover the...

In this episode of the Taylored Tax Show, Terrence Taylor and Big Al discuss taxes and trading, particularly focusing on stock trading. They reflect on a recent market downturn and its tax implications. Learn how to navigate taxes when trading stocks to legally save on taxes. Tune in to gain insights on managing taxes as a highly paid individual in the stock market. "The beauty of understanding an...

On this episode of the Taylored Tax Show, Terrence and Big Al discuss Kamala Harris and Doug Emhoff's tax returns, highlighting key lessons for high-income taxpayers. The hosts delve into an analysis of Kamala Harris's tax returns over the years and draw insights for their audience on saving taxes legally. Tune in to learn how to navigate tax strategies for highly paid individuals and stay informe...

On this episode of the Taylored Tax Show podcast, Terrence Taylor and Big Al discuss the tax savings potential of making political donations for highly paid and high net worth taxpayers. They explore how strategic donations can lead to tax benefits including capital gain savings. Tune in to learn how to maximize tax advantages while supporting political causes. “Strategy does allow for 501c4s and...

In this episode of the Taylored Tax Show podcast, Terrence Taylor and Big Al Darnell Jr. share insights on mastering the tax code in 15 minutes or less. They discuss what is taxed (income) and what is not taxed (debt), emphasizing the importance of understanding how money or value exchanges trigger tax obligations. Listeners learn about the relationship between income and expenses in the context o...

In this episode of the Taylored Tax Show podcast, Terrence Taylor and Big Al Darnell Jr. share insights on mastering the tax code in 15 minutes or less. They discuss what is taxed (income) and what is not taxed (debt), emphasizing the importance of understanding how money or value exchanges trigger tax obligations. Listeners learn about the relationship between income and expenses in the context o...

On this episode the Taylored Tax Show, Terrence and Big Al discuss their strategic partnerships aimed at helping highly paid and high profile taxpayers save on taxes legally. They highlight their collaboration with Hudson Wealth Partners and emphasize the importance of connecting clients with specific professionals to optimize tax savings. Tune in to learn how strategic partnerships can benefit yo...

On this episode of the Taylor Tax Show, Terrence Taylor and Big Al Donnell Jr. discuss the surprising news of Antonio Brown filing for bankruptcy. They delve into the common issue of highly paid athletes facing financial challenges and explore the importance of tax planning for high profile individuals. Tune in to learn about the options available to athletes like Antonio Brown and gain valuable i...

In this episode of the Taylor Tax Show podcast, Terrence Taylor and Big Al Donnell Jr. discuss taxes and nonprofits. They emphasize the importance of understanding the tax benefits for nonprofits, distinguishing between donors and beneficiaries, and structuring nonprofits properly for optimal tax benefits. The hosts explain their shift in focus from individuals to taxpayers and share valuable less...

In this episode of the Taylor Tax Show podcast, Terrence Taylor and Big Al discuss the tax benefits of private equity for highly paid individuals. They cover starting and running a private equity fund, working in private equity, and investing in private equity funds. Listeners will gain insights into leveraging private equity to save on taxes legally. "Investing in a private equity fund provides l...

On this episode of the Taylor Tax Show, Terrence Taylor and Big Al Donnell Jr. delve into the intricate world of estate planning. They break down the topic into three stages: defining estate planning, discussing its importance, and exploring the tax benefits it offers. While emphasizing the complexity of estate planning and the necessity of consulting professionals in the field, the hosts provide...

In this episode, Terrence Taylor and Big Al discuss the tax benefits of retirement. They explain the three buckets of retirement income: taxed, tax-deferred, and tax-free. They highlight the importance of having funds in the tax-free bucket and provide strategies for accessing tax-free retirement income, such as life insurance and self-directed Roth IRAs. They emphasize the need to understand the...

In this episode of the Taylor Tax Show podcast, Terrence Taylor and Big Al Darnell Jr. discuss strategic giving in a tax-based world. They focus on three main strategies: donor advised funds, personal family foundations, and lifetime gift exclusions/annual gift limits. The goal is to empower listeners with tools to maximize their impact in the world while also optimizing their tax situation. Tune...

On this episode of the Taylor Tax Show, Terrence Taylor and Big Al Donnell Jr. dive into the crucial connection between life insurance and taxes. They highlight the six main components of tax savings, including starting a business, real estate investing, insurance, strategic gift giving, retirement planning, and estate planning. Discover why life insurance is a pivotal element in your overall tax...

Learn how highly paid, highly taxed individuals can navigate real estate tax deductions effectively in this episode The Taylored Tax Show. Terrence and Big Al discuss the IRS loss limitation rules and share insights on leveraging the real estate professional status to maximize tax benefits. Tune in to discover how to overcome passive activity loss limitations and optimize your real estate investme...

In this episode, Terrence Taylor and Big Al discuss how starting your own business can be a powerful tool for saving on taxes legally. They highlight the various tax-saving opportunities that come with owning a business, such as employing your children and deducting their income, taking advantage of home office deductions, maximizing vehicle deductions, and planning for the future with business sa...

Welcome to the Taylored Tax Show podcast, where we empower highly paid, highly taxed, and high-profile taxpayers to legally save on their taxes. If you've ever felt like the more you make, the more they take, you're not alone. Hosted by Terrence Taylor, an enrolled agent with an MBA from Harvard Business School, and BiG Al, a seasoned entrepreneur and tax expert, this podcast levels the paying fie...