Tax Changes in 2024 You NEED to Know | Make Smart Money Decisions in 2024 | Your Rich BFF

Hey besties!! Now that it's 2024, let's make sure you are up to date on allll things taxes. We're going to go over some changes for the new year so that you can plan and make smart money decisions all year long! Want more financial tips? Check out my new book, RICH AF, out now!

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[Susanhartman.]

Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?

[Jersderakerguoe]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[ryanwilliams]

The utilization of after-tax money and tax-free growth makes opening a Roth IRA very advantageous. Through a careful guidance of my FA, I did not pay taxes on my withdrawals of $2.86 million when I retired.

[monicalc]

As part of our education, let’s remember the IRS does not make any rules. All tax codes and tax laws are made in Congress. The IRS only implements what your Congress has created as law.

[kimberlychin]

I'm a tax accountant and everything you said is FACTS! Great job on explaining!

[annemariesmith]

I bought my 23 year old daughter your book and she's enjoying it very much. I think the greatest gift we can give our children right now is that of understanding wealth building habits Thank you!

[expandingpossibilities]

My daughter just saw you at her college in Chicago yesterday. You are changing lives Viv! I bought your book during the holidays and told her about you and it made my week when she told me she saw you IN PERSON. Thank you for all that you do and being my young rich BFF! You inspire the young and old.

[CharleneCong]

One tip I've found incredibly valuable is to stay proactive with tax planning throughout the year, rather than scrambling during tax season. By staying informed and making strategic adjustments along the way, we can optimize our financial strategies and keep more money in our pockets. Greate video!

[brooms]

I’m 52 hoping to end the rat race by 60 with $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.

[vulpixelful]

So that's why I got extra in my check. Gonna use it for extra paydown of my higher interest student loans this year 👍🏾

[thatsmyjam]

I appreciate how simple you made your explanations, especially when dealing with such a complex subject.

[ttthecat]

It amazes me how you make this understandable!

[CeeKay-ryfp]

Thank you for the motivation dear. I'm glad that you are finding success. I can feel myself getting closer every day. I've conquered my bad habits, over leveraging, revenge trading, etc. I've found my edge. Now, I'm starting to see consistency. Consistency is KEY, the money will come, don't rush the process. I'm starting to believe in myself more. Anyone on this journey, believe in yourself, never ever doubt yourself. I've struggled with self-doubt, but the more you keep at it, you will ONLY get better. God bless.

[Jane-yjto]

I loved this video, taxes are boring so thank you for making it easy to digest.

[francescorrea]

Great video.
You need to update the graphic that shows $35, 000 instead of $30, 500 for max 401K Contribution for >50

[arlenesolis]

So good to see you again. Where have you been??? I need my money bff.

[poolmilethirty]

Thanks for the info. I thought you were going to mention the tax bracket changes for joint filing couples next.

[ashleym]

Saw no change in my checks because my health insurance went up 😢

[amansilla]

Thank you for sharing!! Can't wait to dig into your book... I ordered 4, one for myself and my husband and one for each of my children! Thank you

[Gutierrez]

just ordered it for me and my wife thank you.