Sean Mullaney's Blog, page 8
November 3, 2022
Sean on New Podcast Episodes
This week I’m on episodes of The Stacking Benjamins Show and the Earn & Invest podcast talking about taxes, retirement savings, and my new book, Solo 401(k): The Solopreneur’s Retirement Account. I’ve also recently recorded, and will record, several other podcast episodes with some great podcast hosts, so please be on the lookout for those. […]
October 22, 2022
The Special Tax Loss Harvesting Opportunity for 2022
There is a tax loss harvesting opportunity in 2022 that has not existed in recent years to the scope and scale it exists today: tax loss harvesting with bonds and bond funds. In most recent years, many bonds and bond funds have not had significant built-in-losses. 2022 is different: now there are plenty of bonds […]
October 8, 2022
Sean Presentation at CampFI
These are the slides for my presentation at CampFI in Julian, CA on October 8, 2022. FI Tax Guy can be your financial planner! Find out more by visiting mullaneyfinancial.com Follow me on Twitter at @SeanMoneyandTax This post is for entertainment and educational purposes only. It does not constitute accounting, financial, investment, legal, or tax advice. Please […]
September 28, 2022
Three Ways the Solo 401(k) Supports Financial Independence
Financial independence encourages thinking about one’s financial future in a different way. You were told to “build a career and retire at age 65.” Financial independence says you should write your own financial script. The system, your parents, and a large employer should not be the authors of your financial future. Guess what goes perfectly […]
September 21, 2022
The Advantages of Living On Taxable Assets First in Early Retirement
The FIRE community loves the accumulation phase. Build up assets towards the goal of financial independence. Questions increasingly creep in when it comes to the distribution phase. Members of the FIRE community wonder: what do I live on when I get to retirement? This is particularly true when one reaches early retirement prior to age […]
July 30, 2022
Baby HSA
Are you married? Age 55 or older? You might have an opportunity to open up a small health savings account and get a $1,000 annual tax deduction! HSA Contribution Limits Health Savings Accounts (“HSAs”) have annual contribution limits. The limits depend on two things: medical insurance coverage through a high deductible health plan (a “HDHP”) […]
July 15, 2022
TikTok Tax Advice
There’s tax advice available on TikTok. Is it worth following? Does it miss the big picture? Retirement Saving Through Various Forms of Life Insurance TikTok tax advice often boils down to something like the following: don’t save in traditional retirement accounts where you will get crushed by taxes in retirement. Rather, save for retirement through […]
July 9, 2022
The Mystery of the Disappearing Tax Basis
Tax loss harvesting is all the rage in a down stock market. Did you know that it can create a mystery worthy of the Hardy Boys? Read on to find out how tax basis can disappear because of tax loss harvesting and the wash sale rule. Tax Loss Harvesting I’ve previously written about tax loss […]
June 4, 2022
Four Ways to Fight Inflation
Decisions you make today can subject you to more inflation tomorrow! Read below about ways to increase or decrease your exposure to inflation tomorrow. Tax Planning As a practical matter, most Americans have the majority of their retirement savings in traditional, pre-tax vehicles such as the 401(k). Having money in a traditional 401(k) is not […]
May 9, 2022
Sean Discusses the Four Percent Rule on the ChooseFI Podcast
Why was your grandparents’ furniture horribly out of date? There’s a reason that has to do with financial independence! I had a great conversation about grandparents’ furniture, inflation, and the four percent rule with Brad and Jonathan on the ChooseFI podcast. You can access the episode on all major podcast players or on the ChooseFI […]
