February 28, 2025 • 50 mins
Join Mark Rothstein, aka Mr. Money, as he breaks down the latest financial insights, including tax filing tips, investment strategies with low-cost ETFs, and the current real estate market outlook. Learn how to maximize your financial potential and make informed decisions in 2025.
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Episode Transcript
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Unknown (00:00):
Information and opinions presented are for
(00:01):
general information only and arenot intended to provide specific
advice or recommendations forany individual you should
contact your investmentprofessional, attorney,
accountant or tax advisorregarding your individual
situation. The opinions of thepresenter do not necessarily
reflect those of independentFinancial Group LLC, its
affiliates, officers ordirectors. Mark Rothstein, aka
Mr. Money, is the owner of tristar financial LLC and Tristar
Income Tax Services LLC. Mr.Money is a marketing name only,
(00:24):
and is not intended as anythingother than a marketing name for
entertainment purposes.Securities and advisory services
offered through independentFinancial Group LLC, a
registered investment advisormember, F, I N, R, A, S, I p, c,
tri star financial LLC. Tri starIncome Tax Services LLC and
independent Financial Group
Mark Rothstein (00:39):
LLC are unaffiliated entities. Good
afternoon. Mr. Money is liveright here. Kito Talk Radio
studios, 580 on the am dial, oneOh, 7.5 on the FM dial, talking
about money. Yep, I've beentalking about money a long time.
40 plus years. I have absolutelytaking clients from money
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worries to money confidence.They got a plan. When you've got
a financial plan you'refollowing, it gives you peace of
mind. I make plans. I make planswith clients. I then hold
clients hands to get it done.They can live 30 to 40 more
years and be financially freeknowing they've got enough. Do
(01:24):
you got a plan? Mr. Money willgive you a plan. Listen in every
Saturday at 2pm Boise time,Idaho time, here in the Treasure
Valley, like to be consideredyour personal tax and financial
planner. I got answers. And soif you'd like to dial in and
talk to Mr. Money on anyquestions or concerns you may
(01:46):
have, 5805436, is the number.I'm right here in the studio,
right here with my producerexecutive, Mr. How shall I
What's a good name my buddy herewith my buddy, and so he'll pick
up the calls if you dial in at5805436, as always, Mr. Money
(02:08):
wants to talk about things. WhatI'm going to talk about this one
you may smile about. You may saythis article applies to me, and
here's what my article says. Itsays 40% of Americans who are
married or in a civilpartnership or living with a
romantic partner are committingor have committed financial
(02:32):
infidelity against their currentspouse or partner. This is
according to a recent survey bybankrate.com Again, 40% of
Americans are doing this. 33%are or have spent more than
their spouse or partner would beokay with again. 33% of the
(02:54):
people are or have spent morethan their spouse or partner
would be okay with themspending. 23% of the people have
secret debt, 17% a secret creditcard. 15% of the survey people
have a secret savings account,and 13% have a secret checking
account. Does that apply to you?Do you have some financial
(03:19):
infidelity going on. One lastthing I'll mention, survey found
that younger people are morelikely to commit financial
infidelity than older ones.Specifically from this research,
67% of Gen z's in live inromantic relationships have or
(03:39):
currently doing so, comparedwith 54% of millennials have
this fidelity in how should wesay? Are not saying at all their
financial infidelity? 33% GenXers and 30% of baby boomers.
Just thought, I might share thatwith you. Again, lot of
Americans have relationshipswith money and their partner
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that's not fully divulged. Mr.Money believes better to be
fully divulged than not be beingopen with your partner about
your finances. Doesn'tnecessarily mean you need to
combine all your money, Yours,Mine and Ours. Is actually
increasingly a popular strategythese days. And yes, I see a
(04:23):
place for that with my clients,certainly. But I want to talk
about the marketplace now. Whatall happened last week, which I
usually open the show with, thefinancial markets. Our stock
market finished a bumpy month.That's right, a bumpy month. It
is now February one. Today.Financial markets finished a
bumpy month, broader, broadlyhigher, with gold going up,
(04:47):
government bonds to stocks, athomes, even overseas, did well,
even though there was a littleshock along the way with this
deep seek AI shock, I'll mentionthat in today's show. Zero.
Investors were rattled in thefinal hours of January trading
when the White House said Fridayafternoon that it would place
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tariffs starting Saturday onmajor trade partners, Canada,
Mexico and China. So Fridaymorning stocks were up. All was
well. The Trump administrationsaid these tariffs are coming.
They're coming as of Saturdaytoday, and so major US stocks in
the indexes dropped as a result.They reverse course following
(05:32):
this tariffs announcement. Thetech heavy NASDAQ Composite, the
technology Stock Exchange, whichhad been up nearly 1.5% ended
the day point three lower, S andP shed point 5% immediately
after that. Dow Jones,Industrial Average, talking
about the 30 large Americancompanies, dropped point eight
(05:54):
or 337 points immediately afterthat. But here's the but major
indexes still ended the monthhigher. It was still better to
be in the market that month, theblue chip Dow gained 4.7% that
month. That month was January.Last month, S and P added 2.7%
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and the NASDAQ rose 1.6%European stocks, by the way,
don't usually mention overseas,but I thought I would today
European stocks for the month inJanuary. The stocks Europe, 600
index, their large cap, one rosemore in January than it did
during all of 24 climbing 6.3%to end a record high. London's
(06:38):
FTSE, 100 and Germany's DAX.They call it, D, A, X, also
closed at records, not sayingJanuary Glenn's was 6.1% on the
London and 9.2 on the GermanyDAX. So seemed to be a very good
month last month, all aroundbut, but, oh, I should mention
(07:00):
this. Precious Metals rose 7% inJanuary. Speaking about gold,
had its biggest monthly gain indollar terms since August. Of
2011
bond funds Bitcoin were Januarywinners as well. But the whole
talk everywhere is tariffs,tariffs, tariffs, like I
mentioned, Friday afternoon, theWhite House said tariffs are
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coming. That's right, the Trumpadministration reignited
concerns that inflation may tickhigher, derailing the
possibility of further interestrates cuts. Remember, Wall
Street likes interest rates tobe lower. I want to borrow my
money at a lower price. I wantto buy a house at a lower
interest rate. And again, whatall happened is the White House
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press secretary, this is Fridayafternoon, Caroline Levitt,
stated that the US will beimposing a 25% tariff on goods
imported from Canada and Mexico,along with a 10% tariff on goods
from China, all beginning onFebruary one. There were few
(08:09):
details that they reported abouthow the tariffs will be
implemented, or if certainindustries will be exempt, but a
more detailed plan will becoming, and of course, Mr. Money
will be talking about it when weget that. Why is this happening?
President Trump, I can now sayhe is our president. President
Trump has cited concerns overborder security as the primary
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reason behind the tariffs, andagain, these universal tariffs
on imports from Canada andMexico will put some upward
pressure on inflation, becausethink about it, if, in fact,
it's going to cost them a wholelot more to bring the product in
then when it's now in America,they need to raise the price in
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order to gain back some of that25% tariff, according to the US
Energy InformationAdministration, looking at the
Energy side, because, remember,so much of the energy is coming
from Canada. Specificallyadminister. Canada was
responsible for roughly 60% ofUS crude oil imports in the year
(09:12):
of 23 additionally, about 24% ofUS refinery throughput. What's
the word throughput. Mean, theamount of crude oil processed at
a refinery was from Canadiancrude oil imports. 24% of US
refinery from Canadian crude oilimports. Therefore, a 25%
(09:33):
universal tariff could lead tohigher prices at the pump for US
consumers. But Mr. Money, I'veheard Trump say, drill, baby,
drill. Yes, but you can say itdoesn't mean we have all this
additional oil that's now usableimmediately, and therefore
prices should come down.Inflation should come down
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because we've got surplus now,so the prices can come down.
Yeah. So it may very well bethat there will be an increase,
and by the way, there's anotherkey industry that would be
intact impacted by thesetariffs, which is automobiles.
Yep, US automobile manufacturerssuch as Ford and GM have
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manufacturing factories spanningacross North America as part of
the vehicle manufacturingprocess, parts can cross borders
multiple times throughoutassembly, and therefore tariffs
could put inflationary pressureon automobiles again. Details
remain unclear as to whethercertain goods, such as oil and
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autos would be excluded fromtariffs, or whether they're
going to be included. So Mr.Money is here to say the market
is queasy. They're a bit worriedabout what these tariffs are
going to be and well, it causedinflation, which the Federal
Reserve has been trying foryears to bring down inflation,
but at the moment, people areworried, will the tariffs go
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cause inflation to go up, up,up. We shall see. The other
thing that was important lastweek I should mention also is
interest rates. The feds,Federal Open Market Committee.
We call it the FOMC, FederalOpen Market Committee. They're
the ones that decide on interestrates, as you recall, and Mr.
(11:22):
Money speaks about it weekly,that interest rates were dropped
a quarter of a point, a quarterof a point, half a point three
times last year, one percentagepoint total. And again, their
meeting was now for this year.And so what did the Fed do? They
concluded its January meetingthis last week, and they
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maintained its target range forfederal funds rate at 4.25 to
4.5% in other words, the Fed istaking a more patient approach
toward easing policy, easingmonetary policy because,
according to them, we've gotsome solid economic growth. We
got a healthy labor market, eventhough we have policy
(12:08):
uncertainty around Trump. Soagain, it's clear to see
interest rates are still a verybig deal. But again, the Fed
held steady. They did not dropinterest rates this last week.
The Federal Reserve Chairman.His name is Jerome Powell, by
the way, said, quote, officialsare not in a hurry to lower
interest rates, adding that thecentral bank is pausing to see
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further progress on inflationfollowing a string of rate
reductions last year. In hispost meeting statement,
officials repeated and repeatedthat inflation remains somewhat
elevated, but removed areference to it having made
progress toward the 2% goal. Soagain, they noted that
(12:52):
unemployment rate is at astabilized rate. It's at 4.1% by
the way, and so we'll see whathappens. So the Feds did not
lower interest rates, and thatwas a big deal for last week. So
all in all, we are now sittingand looking at what will the
Federal Reserve do? What isgoing to happen with interest
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rates? We talk about it weekly.It matters. What is the Trump
administration going to do withthese tariffs? If you notice
what I said carefully, I saidthey announced it Friday, and I
also said it goes into effectbeginning February one. Or does
it go into effect immediately?Could it be Trump is positioning
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himself for more negotiations?Yes, they're negation
negotiating with all thesecountries at the moment, yes,
we'll see. So that'll be oneveryone's mind is, what do
those tariffs get enacted on?Which products does it get
enacted? And in fact, willinflation as a result go higher,
be unaffected, or go lower as aresult? That's all the key items
(14:00):
we're looking at. The other keyitem I should mention is this
debt. It's just over a trilliondollars a year. You pay an
interest on the debt, way morethan you spend on Defense and
other agencies in the USgovernment. So again, we're
looking to see what Trump'sgoing to do with bringing down
debt, hopefully deregulationthat he's talked about will have
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companies more profitable, makemore money reinvested into
industry, into people, and maybethey're with all the profit, be
paying more in income tax thatcan be used to bring down the
debt, but it is unsustainableour debt, So Mr. Money will be
watching that very closely also.And again, though, what's the
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bottom line? Watch for thesetariffs. What will they affect
in the short term, middle termand long term? We'll be
monitoring it all year. When wecome back, Mr. Money is going to
talk about taxes, but morespecifically. Money if you're
self employed, or you're acontractor, or your company or
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company you work for is payingyou as a contractor, not an
employee. Does that matter? Mr.Money? Can I just receive my
money and call it a day, or doesit matter how the company pays
you? We're going to talk aboutwhat the IRS says about that
when we come back. This is Mr.Money.
Unknown (15:27):
Let me tell you how it will be. There's one for you, 19
for me, because I'm the tightsman.
Mark Rothstein (15:48):
Yes, I am the tax man in this segment of the
radio show. Welcome all mylisteners. And for some people,
they get turned off by the taxsection. Me. I get turned on. It
is an opportunity to save money.It's an opportunity to educate
and teach. It's an Educate toprotect my listeners so they're
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doing things correctly, and sothat's why I thought I would do
this right now. Because rightnow it is now February one.
Deadlines are here. Employershave to send out their w2 the
wage statements to all theemployees. And by the way, if
you're self employed, theemployers, the people that hired
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you, they're supposed to sendout a form that says, we paid
you X amount. As self employed,you receive something called the
1099 form. And as a result, yougot to report the income you
made. And many times they haveto issue the 1099 I shouldn't
say many times, all the time,they need to issue that 1099 so
(16:55):
I want to do a section on hiringsomeone as an independent
contractor versus your hiringand working with someone and
they're paid as an employee.Among some of these benefits are
this independent contractors canbe hired on a per project basis
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and let go when the project iscomplete. So when you can hire
somebody, and they're acontractor. They're hired on a
per project basis. They're letgo in the project is complete.
That's one of a couple factorsyou need to do to pay them that
way. Remember, if you pay themas an employee, then you have to
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go through and do all thepayroll taxes, and you have to
pay unemployment and employmentall these taxes when you put
them through that, not tomention you have to pay 7.65% of
their wage into the governmentfor Social Security and
Medicare. So an employer whohires an employee has to pay
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that 7.65% out of their pocket,not to mention they've got
whatever employee benefits aregiven they've got a whole lot of
costs when it's an employee. SoI would like to maybe hire them
as an independent contractor. Sothere's certain things you got
to do to pay them as anindependent cock contractor.
Again, an independentcontractor, to me, says they can
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be hired on a per project basis,let go on the project is
complete. They're oftenexperienced in their respective
fields and want to maintain adegree of independence. Like a
contractor. They do not requiresupervision that's necessary
with employees, because I'm acontractor, they don't have to
(18:44):
receive benefits or workerscomp, nothing like that. What's
the biggest risk, though, is theIRS has to determine and agree
with you that you're getting toavoid all the Employee Benefits,
employee payroll taxes, all thethings that go along with an
employee versus you're treatingthem as a self employed
(19:07):
contractor. Again, generally,the degree you control on that
person determines whetherthey're an independent
contractor and employee theamount of control employers
typically provide a workersmaterials, supplies, tools while
an independent contractor. Ifyou want to be known as that,
(19:29):
you're going to provide your owntools and workers. Employers set
an employee's work hours whilean independent contractor
usually gets to set their ownschedules. You bet the more
integrated or central a job isto the company's operations, the
more likely the workers to beconsidered employee. If they are
(19:52):
the central person inside ofthat work, they're integrated in
I went and found 11 majorfactors. That the IRS will ask
you about. So I thought I wouldtell you this. So if you want to
hire someone as a contractor andavoid having to pay the employee
benefits and go through payrolltaxes and the whole bit,
(20:14):
to protect yourself, here arethe key things the IRS will ask
you. Thought I would share itwith you. Here's how they define
employee. The worker must obeyinstructions concerning when or
how to perform the job. Okay,they're going to instruct you
concerning when and how toperform the job. Independent
contractor says workersresponsible for the outcome of
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the job can determine how it isto be done. An employee, looking
person that needs a w2 wage andincluded with a payroll ways
where the company providestraining, whereas an independent
contractor, the worker may belicensed by a state board, may
have invested considerable sumsof time and money and training
(20:56):
themselves. Employee andservices must be performed by
the worker. The company hires,supervises or pays a worker's
assistance, or as an independentcontractor. Worker can hire
assistance and is responsiblefor their pay, totally
independent like the wordindependent contractor an
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employee. How do they define theworker has an ongoing
relationship with the company,independent contractor. Worker
advertises or otherwise makesservices available to the
general public. How about anemployee? Company sets work
hours an independent contractor,the worker can set their own
(21:39):
work hours. An employee is thecompany requires full time work
at its business. Again, if youdon't want that person to be
considered an employee, if theIRS comes after you and you
don't want the company requiringfull time work at the business,
independent contractor is aworker. Can work for more than
one company at a time. Anemployee is defined by IRS,
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company controls where the workis performed and the order in
which the tasks are done. Versusan independent contractor. The
worker can complete the tasks atthe office, then complete the
task at home. The worker decideshow to finish the job. So the
independent contractors,defining all those terms,
employee, again, you may notwant to call them an employee,
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because then you've got all thepayroll taxes you've got to pay
7.65% of the amount you pay themfor Medicare, Social Security.
Again, in employees, the workerreceives payment by a hour, week
or month. Independentcontractors are usually paid on
a per job or commission basisperiod another employee, looking
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person is the company providesthe tools and materials.
Independent contractor, theworker has personal tools,
equipment, materials and orfacilities, and often has
invested significantly in all ofthese items for themselves.
Another idea, the workergenerally doesn't take on
financial risk, and the companypays all your travel expense,
(23:11):
your business expenses, etc. I'man employee looking for
reimbursement, independentcontractor. The worker can
realize a profit or loss from ajob, and generally pays all
their expenses that they incur.Last thing on my points here,
employee, the worker can usuallyquit without liability for
(23:32):
failure to complete a job.That's an employee, an
independent contractor,different the worker is liable
for completing a job accordingto a contract for that job. So
again, very important foreveryone to notice, are you
going to hire them as acontractor, as an independent
contractor? Make sure you followthese things versus they're
(23:57):
being hired as an employee. Icertainly understand why you'd
like them as a contractor tosave a whole lot of expense. On
the other hand, if the IRS getswind of it, they may check, and
if they check, and it's more anemployee, they will make you go
back and do payroll taxes. Theywill be penalties, there will be
interest, there will be a lot ofmoney paid from the company to
(24:19):
make up for the employee, thenow employee, they consider
workers comp, payroll taxes,etc, plus employee benefits. So
do it right, so you don't haveto worry about is that person an
independent contractor? Is thatperson an employee? Doing it
right? Really does matter,speaking of doing it right, one
(24:42):
other item I wanted to mention.Here it is tax season now it has
started. People are filingimportant to have thought it
would run through just somethings you need to make sure is
your preparation checklist, onesocial security number or tax ID
number for you, your spouse,your. Pendants. You're going to
need it for your tax return, IP,your identity protection pin. If
(25:07):
the IRS has issued you one, yougot to put it on your tax
return. Make sure you keep thatpiece of paper that receipt so
you can get the I IdentityProtection pin on your return.
Get your bank routing number andaccount numbers. If you want
your refund to be done directdeposit electronically, then you
need to have that data to doyour tax return. Don't forget
(25:30):
your W twos. Don't forget your1090 9g if you received
unemployment benefits, don'tforget your 1099 forms. If
you're self employed, they'resending you that form of the
money they paid you. Don'tforget your schedule, K ones for
partnerships or things you'reinvolved in. Remember 1099
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miscellaneous is saying you gotmore income there or 1099 NEC,
non employee compensation form.Remember 1099 make sure you got
them. Make sure you report them.There's the 1099 i n t for
interest. Report it 1090 9o i doriginal issued discount. That's
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when you're buying bonds. Makesure you've got that form to
report on your tax return.Remember these 1090 nines went
to the IRS. They're looking forit on your tax return. 1099, div
for your dividends. How about a?1090 9b as in sales. 1090 9s for
sales B and S B for the sales ofstocks, S for sale of a home,
(26:36):
things like that. 1099 sa forwhen you had a health savings
account or a 1099 LTC, long termcare reimbursement. Again, Mr.
Money, you're giving me ideas mylong term care, there's a tax
deduction for that. Yes, my 1099sa for my savings account, my H
(26:59):
essays, yep, there's somethingformed for that. Don't forget
your 1040, ESS, your estimatedpayments. If you paid money
during the year. Don't forget toreport on your tax return that
you paid the government duringthe year quarterly. But Mr.
Money, I didn't pay quarterly. Iwas off. I made all my money in
the first quarter, so I sentmoney in on the April 15
(27:21):
quarterly I didn't make anymoney for six months, so I did
not send any money in on theJune 15 quarterly payment. And
in September 15, I did pay somemoney because I finally got
money in. Make sure your taxpreparer knows that IRS thinks
you made the money evenlythroughout the year. You're just
supposed to pay in money whenyou have earned income. So
(27:42):
again, make sure you report yourestimated payments and when you
got that money during the year.Don't forget your 1098, form
mortgage interest paid on thehouse deductible your real
estate property taxes, maybeyour personal property tax like
a DMV, car registration, tax.How about receipts for energy
(28:06):
saving, home improvements, solarpanels, solar water heater. How
about all those things? Don'tforget your EV electronic
vehicle information if youpurchased one last year. Mr.
Money wants to remind you aboutdonations. If you gave cash
amounts donated to houses ofworship or schools or other
(28:27):
charitable organizations, getthe receipt. Maybe you didn't
give cash, but you gave non cashcharitable donations, clothes
and automobile, etc. Keep thoserecords. Bring them to the tax
person, when you're doing yourtaxes, how about amount of miles
driven for charity or medical?Do you know that was deductible?
That's right back and forth tothe church, doing charity work
(28:50):
or back and forth. Doing anycharity work is deductible.
Miles and back and forth for themedical to go get your
prescriptions and drugs, govisit your doctor, go get your
physical therapy, whatever itmay be. On the medical side,
keep track of medical models. Itis a deduction. How about amount
you paid for health care andhealth insurance premiums? Yep.
(29:14):
Keep track. Report it. How abouta form 1095, a Mr. Money's had
trouble with that, with clientsthat forget to bring in the
1095, a what is that form ifyou've enrolled in an insurance
plan through the Affordable CareAct, Obamacare marketplace got a
report that you got a reductionor what you ended up paying
(29:36):
under the Affordable Care Act.Important to do? How about fees
you paid to a licensed daycarecenter or family daycare for
care of an infant or apreschooler, or amount you paid
to a babysitter or care providerfor your child younger than 13
while you were working. Howabout this one again? I got an
(29:56):
exhaustive list. When I do a taxreturn, I ask a whole. Whole lot
of questions, looking for asmany deductions as I can find.
Here's some more. I ask aboutexpenses paid through a
dependent care flexible spendingaccount. So did you know you can
have money come out of yourpaycheck, reduces your taxable
wages. You've now got moneyinternally that have been taken
(30:18):
out. And again, you just have togive a receipt and say, Would
you please reimburse me for theamount I paid for this dependent
care for my child so I couldwork? How about a form 1090, 8t
Yep, got a lot of those tuitionstatement for educational
institutions. That's right,there's a deduction for that
(30:38):
too. You're paying for yourchild in college, those tuition
you're paying is deductible,along with their school
supplies, along with a computerthey may need, etc. Don't forget
that one. How aboutscholarships? If you received a
scholarship or fellowship again,let your tax person know that
(30:58):
maybe you've got a 1090 8e ifyou paid student loan interest,
there's a tax deduction forstudent loan interest goes on
your tax return as anadjustment. How about amount of
state and local income or salestaxes paid many times? We need
that number. How about vehiclesales tax? You betcha, you
(31:18):
bought a car and you paid salestax, there's a spot for that on
the tax return. You might evenhave a form, 5498 showing IRA
contributions. So again, I got awhole host of these, and over
the next few weeks, I'll go intodetails on some of these for
everyone, but a nice, long taxpreparation checklist. Make sure
(31:41):
you've got all the things youneed, most especially getting a
refund. Make sure you have yourbank routing number and account
numbers you can put it on thereturn and get your money back
within 21 days, hopefully. Veryimportant item there. And if
you've ever had identity theft,go to irs.gov
get yourself the IRS IdentityProtection pin and then use that
(32:05):
on your tax return so you can'tbe hurt by somebody absconding
with your information in any wayregarding the IRS. When we come
back, Mr. Money is going to talkabout something that just
concerns everybody. That'sright. What is it? I'll say what
it is. It's all thoseinsurances. Anybody notice home
(32:27):
insurance go up? Anybody noticeauto insurance go up? I thought
I would explain why it's goingup and then show you how you can
reduce it and pay less for yourhome insurance and less on your
auto insurance. All when we comeback. This is Mr. Money. Welcome
Unknown (32:44):
back to the Mr. Money show on K I do talk radio, 1075
FM and 580 AM.
Mark Rothstein (32:57):
Mr. Money is listening to the music, but it's
time to do a little talking. Weare here. Live downtown Boise.
That's right in the K I dostudios. If you'd like to dial
in 5805436, Mr. Producer, openthe lines. If people want to
talk about taxes, maybe theywant to talk about the Trump
tariffs we've spoken about.Maybe they want to talk about
(33:20):
this topic, which is the outlookfor home and automobile
insurance. That's right, we haveall seen premiums for our
homeowners and automobileinsurance rise sharply. I
certainly have seen it, mygoodness. And there are several
factors I thought I'd mention.Why is it going up prior to the
(33:41):
year 2022 the insurance marketwent through a phase of lower
than normal hurricane activity,but hurricane activity spiked in
the year 22 and 23 and it mayhave mentioned we had a whole
lot of that in 24 also all thatcoincided with This inflationary
increase in different sectors,and that affected homeowners
(34:03):
insurance. If you look at theconsumer price index of all
consumer goods, boy, I hatesaying this. If you look at the
consumer price index of allconsumer good, prices have
increased by 20 to 30 to 40%overall, between 2020 and 2024
(34:23):
we've seen massive increases,many times in the average of 30%
increase. But the constructionindustry, that's the point, was
hit much harder, 35% to 40% fortrade services, lumber,
concrete, asphalt and otherthings that are required to
replace and repair homes. Inother words, the inflationary
(34:45):
impact of goods and servicesaffecting the insurance industry
has increased at roughly twicethe pace relative to other
industries. This is what's goingon behind this home insurance as
a. Result, we have found thatthese costs have been passed
along to customers. So all theseincreased costs for the home
(35:07):
have been put to us under theinsurance side, because it costs
so so much to replace items inyour home because of all the
inflation inside of asphalt andlumber and concrete, etc, the
auto industry also has supplychain issues. Early in COVID
pandemic spilled into 2122 costsof parts and supplies rose
(35:31):
dramatically during the periodthese last few years, and the
cost of repairing your vehiclesrose along with it. Time
required for vehicle repairs hasgrown as well, which increases
the need for expense for rentalcars, driving up the overall
cost of repairs. Again, costsare underneath all this. So
(35:52):
these increased costs are stillpresent today, and they're
simply being passed on to all ofus for all of this increase in
auto insurance and this increasein home insurance, what's the
outlook going forward? I hate tosay it, but there's certainly
been in 24 a whole lot ofhurricanes, a whole lot of fire
in different parts of thecountry. The most recent,
(36:12):
obviously, LA. And while overallpricing may not be going down,
the rate of increase they hopewill level off. I'm not so
certain about that. Maybe autoinsurance may not keep going up
so high, but I certainly worryabout homeowner insurance,
insurance. Cari says we'rebeginning to see improving
(36:33):
financial pictures. They werebeginning to see it. Then along
came the impacts of Helene fire,Hurricane Milton. Coming back to
back in the fall of 24 is prettydramatic, also. So again,
weather is actually a part ofall of this, of why you're home
and auto insurance. Good newsis, Mr. Money will have an
(36:54):
answer for us at the end ofreducing it, but that's just
what's been going on. Willinsurers continue to leave
states that have been hit bynatural disasters, you may say,
with all that's going on in LA,are people leaving Yes, with all
that's going on in Florida, arepeople leaving Yes? All
indicators in the propertymarket seem to suggest that it
(37:17):
will continue to be difficultpeople in Florida may be used to
insurance companies leaving, butnow you're seeing it happen that
insurance companies leaving. Youcan't get insurance in from
certain companies in Florida,but now you're seeing insurance
companies no longer offeringservices in the Midwest and the
plain states too. So what may beone of the answers is starting
(37:41):
to work with an independentagent who can offer options from
multiple insurance companiesthat will give homeowners as
much better opportunity to findcoverage. You know, an
independent will look around atall different companies out
there. What steps can us carowners and homeowners take to
lower these insurance premiums.Mention that next with regard to
(38:04):
auto insurance, of course, theyalways say, practice safe
driving habits, doing all youcan to prevent losses, doing all
you can to not get in anaccident, obviously, having a
good credit score. Do you knowthat having a good credit score
also helps your rates, becausein recent decades, they've seen
(38:25):
credit does impact how carriersprice increase. You tend to have
a low credit score. You tend tobe paying more for insurance
homeowners, proper maintenanceof your home, proper roof
plumbing, electrical, HVAC isparamount. You also want to
review your deductibles anddetermine how much you can
afford to pay before insurancekicks in. That's always
(38:47):
something you can do, always,always, always look at your
deductible if you raise yourdeductible, which means you have
to pay more the cost if there'sdamage, the premium, the cost to
you will come down. So maybe youshould increase the deductible
on your home and auto insurancethat will bring it lower, and
then, like that Super Bowl kindof commercial, the football
(39:09):
commercial that we see bundleyour auto and home insurance
with the same company can alsosave you money. That's
absolutely true. So again, whenyou're shopping to bring down
your home insurance, and I thinkeveryone should look to bring
down their home insurance, theircar insurance every year. Make a
few phone calls and check maybebundling, and we'll make it
(39:32):
cheaper. But Mr. Money, I'vealready bundled. Well, maybe
cheaper to bundle with thiscompany versus another company.
Maybe this company's subject toall the fires in LA so they're
raising their rates across thecountry, and so as a result,
maybe you should be bundlingelsewhere. All Mr. Bunnies
saying. All I am saying ischeck. The other thing you can
(39:53):
do is called usage basedinsurance. You be a. Usage based
insurance. What is this usagebased insurance I'm talking
about these rates are based onreal time tracking of consumers
driving habits. Unliketraditional insurance, premiums
(40:15):
are based on past drivingrecords. That's the way it
normally is be UBI does itdifferently under UBI, again,
usage based insurance. How doesUBI do it? They use telematics
technology, often on your mobilephone, to track customer driving
patterns, and then they offerdiscounts based on safe driving
(40:37):
and fewer miles driven. Soagain, Mr. Money is here to say,
check with your company, do theydo something called usage based
insurance, where it's reallybased on my usage, not so much,
just simply on the waytraditional insurance premiums
do it based on your past drivingrecord and your credit score.
(40:58):
Tesla owners who buy insurancefrom electronic vehicle giant
from Tesla already have UBIpolicies, because that's all
Tesla offers. So again,typically, customers can save
about 10% compared with theirtraditional auto insurance
policy by doing the UBI so Mr.Money's ending this segment
(41:24):
saying usage based insurance.Yes, you get tracked. I'm sorry
you're getting tracked. Soprivacy is a big deal. Maybe
this isn't for you, but ifyou're okay to do the usage
based insurance, where they'redoing analytics, where they're
actually seeing how much youreally drive, and they're
tracking you, seeing yourpatterns, you may get a nice 10%
(41:47):
discount from what you'repaying, something worth looking
at when we come back, Mr.Money's got a little more to
talk about. What's that littlemore for this week? It's this,
protecting your child fromidentity theft. Your kids are on
the internet. Your kids areplaying on the internet. Are you
protecting your kids fromidentity theft? Gonna talk about
(42:09):
that and ways to prevent anyidentity theft to your children
when we come back, this is Mr.Money.
Unknown (42:21):
Welcome back to the Mr. Money show on K I do talk radio,
1075, FM and 580 am
Mark Rothstein (42:28):
Mr. Money's in the House talking about identity
theft, but a little bitdifferently. Of course, I've
done many shows on identitytheft to protect yourself. But
what about protecting your childis that important? You bet it's
important. Identity theft canhave a significant impact,
especially when involveschildren. The Cyber criminals
(42:52):
target the identities ofchildren because they have
unblemished credit historiesthat tend to be infrequently
reviewed. That means a fraud maygo undetected for years, often
until the child has a creditreport run. By the way, Mr.
Money has spoken in the past,sometimes add your child's name
to your credit, put them on yourcredit card, and as long as you
(43:16):
keep making your payments andhave a good credit score, it
will affect your child startinglife when they're ready to start
it with a high score. Just alittle thing we've talked about
in the past, but identity theftamong people under 18, I want
you to know is on the rise.Today's kids are increasingly
active online. My two childrenare and using mobile apps,
(43:38):
social media platforms. They'reexposing them, these kids just
exposing themselves to greaterrisk of data theft ever before.
I know seems like my girls areon their 24/7 those with access
to shared peer to peer paymentaccounts, remember those with
(43:58):
access to shared peer to peerpayment accounts such as Venmo
here, here, use my credit cardmy child and go ahead and buy
yourself X amount on theinternet for yourself, such as
Venmo Zelle Cash App and paidonline accounts for online
gaming and streaming servicesput the entire family at risk
(44:20):
for data theft. In fact,children can sometimes become
the gateway to broader schemesthat affect all members of the
House. So again, you've got totalk to your children about it,
about protecting the identity,protecting your credit card. We
simply don't want dishonestindividuals gaining control of
(44:41):
the personally identifiableinformation. They call it the
PII, by the way, personality,personally identifiable
information, and they use thatidentification information to
commit fraud, etc. So watch outfor that addition. Parents or
children can inadvertentlydisclose sensitive information
(45:03):
through online birthannouncements, birthday party
invitations, social media posts,or when registering for school
or completing online forms for adoctor visit, a hacker may be
able to steal a child's identityby cobbling together his or her
birth date, address, phonenumber. Alternative cyber
(45:25):
criminals can use datafragments, such as one child's
birth date, social securitynumbers of another to build a
synthetic identity. So there's awhole lot of cyber criminals
inside the Internet where thekids are playing, and you need
to watch out to that one otherpoint I should mention here,
kids from households with annualincome of at least 150,000 or
(45:48):
more likely to have their datacompromised than kids from less
affluent households. So again,the cyber criminals are looking
for the wealthier kids wherethere's more money that they can
try to steal. More than aquarter of the kids from the
highest income households. 26%were targeted by identity theft
(46:12):
scams in the last six years,according to child ID theft sold
social cyber risks. All right,so what do we watch out for?
Let's get to the point here.What do we watch out for?
Anything that seems out of theordinary may indicate that a
child's identity your child hasbeen compromised. For instance,
receiving unsolicited creditcard offers in a child's name,
(46:36):
that's a red flag. Debtcollection calls all of a sudden
you get for your childcorrespondence from state and
federal tax authorities can bered flags associated with
identity theft. Additionalwarning signs include
illegitimate medical bills. Allof a sudden you get or
unexpected charges in a creditreport and denial of government
(47:00):
benefits on behalf of a child.So those are what you're
watching out for. They canhappen once they steal, they
your identity. They do all thesethings. So Mr. Money, how do I
prevent data theft? Miners aremore likely to overshare about
themselves on social media. Theyaccept friend requests from
(47:21):
strangers, they post contactpublicly and check in at
locations such as vacationdestinations or social
activities. So again, educateyour child about the risk of
identity theft. They shouldunderstand what is and isn't
acceptable to share online. Yougotta teach them how to
(47:42):
recognize phishing emails andhow scammers exploit social
media, shopping and gamingplatforms. Key there is gaming
platforms. The kids seem to loveit, and we're always going
there. My kids included. Soproactive steps you can take to
protect your miners from thesescams. One explain what can
(48:02):
happen if your personalinformations, such as address,
phone number and age is sharedonline. Don't do it. Use privacy
tools. Take advantage of privacytools on social media online
accounts, select the mostrestrictive settings. That's
right. I said the mostrestrictive settings, monitor
social media accounts, often toensure your child doesn't share
(48:26):
their PII their personalinformation, encourage your
child to accept friend requestsonly, only from people they
know. Secure devices. Yep, weshould be doing that as parents
use strong passwords and ensureyour child updates the operating
system when prompted, consideradding software to monitor
(48:48):
activity. Limiting the sitesyour child visits, that's right.
Limit where they're visiting.Limit data sharing. Share your
child's social security numberonly when necessary by the same,
by the way, same for yourself,only when necessary. If a
doctor's office or schoolrequests it, ask why it's needed
and how they intend to protectit. Store your paper records and
(49:11):
include your child's personalinformation secure location. Of
course, if you need dispose ofdocuments, my wife does is if
you need to dispose of documentsthat contain sensitive data,
shred them before placing themin the trash. I always smile
when my wife does that all thetime. Delete digital
information. Delete personalinformation from every device
(49:35):
you dispose of, includingreformatting hard drives. Check
the credit reports, as Imentioned, make sure you're
checking them. See if your childhas a credit report, if it does
exist, scrutinize every line ofand dispute any unfamiliar
items. And finally, consider theexample you set when engaging
with others online. Yourself,your kids are watching you. So
(49:59):
again, show. Show them theproper habits to have when
you're online and regarding whatyou're sharing or not sharing,
this is all crucial and all veryimportant. Mr. Money wants to
protect your child as much asMr. Money wants to protect
yourself. Identity theft isrampant. Just remember to do it
(50:19):
for your children, just like youdo it for yourself. If your
child's in college, they're nottoo old, take a look at it.
Protect them also. It'shappening on the campuses. Mr.
Money will be back nextSaturday, 2pm I thank you for
listening. The music says, Goodday, Mr. Money. Information
Unknown (50:40):
and opinions presented are for general information only
and are not intended to providespecific advice or
recommendations for anyindividual you should contact
your investment professional,attorney, accountant or tax
advisor regarding yourindividual situation. The
opinions of the presenter do notnecessarily reflect those of
independent Financial Group LLC,its affiliates, officers or
directors. Mark Rothstein, akaMr. Money, is the owner of tri
star financial LLC and TristarIncome Tax Services LLC, Mr.
(51:02):
Money is a marketing name only,and is not intended as anything
other than a marketing name forentertainment purposes.
Securities and advisory servicesoffered through independent
Financial Group LLC, aregistered investment advisor
member, F, I N, R, A, S, i, p,c, tri star financial LLC, tri
star Income Tax Services LLC andindependent Financial Group LLC
are unaffiliated entities.
Information and opinions presented are for
(00:01):
general information only and arenot intended to provide specific
advice or recommendations forany individual you should
contact your investmentprofessional, attorney,
accountant or tax advisorregarding your individual
situation. The opinions of thepresenter do not necessarily
reflect those of independentFinancial Group LLC, its
affiliates, officers ordirectors. Mark Rothstein, aka
Mr. Money, is the owner of tristar financial LLC and Tristar
Income Tax Services LLC. Mr.Money is a marketing name only,
(00:24):
and is not intended as anythingother than a marketing name for
entertainment purposes.Securities and advisory services
offered through independentFinancial Group LLC, a
registered investment advisormember, F, I N, R, A, S, I p, c,
tri star financial LLC. Tri starIncome Tax Services LLC and
independent Financial Group
Mark Rothstein (00:39):
LLC are unaffiliated entities. Good
afternoon. Mr. Money is liveright here. Kito Talk Radio
studios, 580 on the am dial, oneOh, 7.5 on the FM dial, talking
about money. Yep, I've beentalking about money a long time.
40 plus years. I have absolutelytaking clients from money
(01:02):
worries to money confidence.They got a plan. When you've got
a financial plan you'refollowing, it gives you peace of
mind. I make plans. I make planswith clients. I then hold
clients hands to get it done.They can live 30 to 40 more
years and be financially freeknowing they've got enough. Do
(01:24):
you got a plan? Mr. Money willgive you a plan. Listen in every
Saturday at 2pm Boise time,Idaho time, here in the Treasure
Valley, like to be consideredyour personal tax and financial
planner. I got answers. And soif you'd like to dial in and
talk to Mr. Money on anyquestions or concerns you may
(01:46):
have, 5805436, is the number.I'm right here in the studio,
right here with my producerexecutive, Mr. How shall I
What's a good name my buddy herewith my buddy, and so he'll pick
up the calls if you dial in at5805436, as always, Mr. Money
(02:08):
wants to talk about things. WhatI'm going to talk about this one
you may smile about. You may saythis article applies to me, and
here's what my article says. Itsays 40% of Americans who are
married or in a civilpartnership or living with a
romantic partner are committingor have committed financial
(02:32):
infidelity against their currentspouse or partner. This is
according to a recent survey bybankrate.com Again, 40% of
Americans are doing this. 33%are or have spent more than
their spouse or partner would beokay with again. 33% of the
(02:54):
people are or have spent morethan their spouse or partner
would be okay with themspending. 23% of the people have
secret debt, 17% a secret creditcard. 15% of the survey people
have a secret savings account,and 13% have a secret checking
account. Does that apply to you?Do you have some financial
(03:19):
infidelity going on. One lastthing I'll mention, survey found
that younger people are morelikely to commit financial
infidelity than older ones.Specifically from this research,
67% of Gen z's in live inromantic relationships have or
(03:39):
currently doing so, comparedwith 54% of millennials have
this fidelity in how should wesay? Are not saying at all their
financial infidelity? 33% GenXers and 30% of baby boomers.
Just thought, I might share thatwith you. Again, lot of
Americans have relationshipswith money and their partner
(04:02):
that's not fully divulged. Mr.Money believes better to be
fully divulged than not be beingopen with your partner about
your finances. Doesn'tnecessarily mean you need to
combine all your money, Yours,Mine and Ours. Is actually
increasingly a popular strategythese days. And yes, I see a
(04:23):
place for that with my clients,certainly. But I want to talk
about the marketplace now. Whatall happened last week, which I
usually open the show with, thefinancial markets. Our stock
market finished a bumpy month.That's right, a bumpy month. It
is now February one. Today.Financial markets finished a
bumpy month, broader, broadlyhigher, with gold going up,
(04:47):
government bonds to stocks, athomes, even overseas, did well,
even though there was a littleshock along the way with this
deep seek AI shock, I'll mentionthat in today's show. Zero.
Investors were rattled in thefinal hours of January trading
when the White House said Fridayafternoon that it would place
(05:08):
tariffs starting Saturday onmajor trade partners, Canada,
Mexico and China. So Fridaymorning stocks were up. All was
well. The Trump administrationsaid these tariffs are coming.
They're coming as of Saturdaytoday, and so major US stocks in
the indexes dropped as a result.They reverse course following
(05:32):
this tariffs announcement. Thetech heavy NASDAQ Composite, the
technology Stock Exchange, whichhad been up nearly 1.5% ended
the day point three lower, S andP shed point 5% immediately
after that. Dow Jones,Industrial Average, talking
about the 30 large Americancompanies, dropped point eight
(05:54):
or 337 points immediately afterthat. But here's the but major
indexes still ended the monthhigher. It was still better to
be in the market that month, theblue chip Dow gained 4.7% that
month. That month was January.Last month, S and P added 2.7%
(06:14):
and the NASDAQ rose 1.6%European stocks, by the way,
don't usually mention overseas,but I thought I would today
European stocks for the month inJanuary. The stocks Europe, 600
index, their large cap, one rosemore in January than it did
during all of 24 climbing 6.3%to end a record high. London's
(06:38):
FTSE, 100 and Germany's DAX.They call it, D, A, X, also
closed at records, not sayingJanuary Glenn's was 6.1% on the
London and 9.2 on the GermanyDAX. So seemed to be a very good
month last month, all aroundbut, but, oh, I should mention
(07:00):
this. Precious Metals rose 7% inJanuary. Speaking about gold,
had its biggest monthly gain indollar terms since August. Of
2011
bond funds Bitcoin were Januarywinners as well. But the whole
talk everywhere is tariffs,tariffs, tariffs, like I
mentioned, Friday afternoon, theWhite House said tariffs are
(07:23):
coming. That's right, the Trumpadministration reignited
concerns that inflation may tickhigher, derailing the
possibility of further interestrates cuts. Remember, Wall
Street likes interest rates tobe lower. I want to borrow my
money at a lower price. I wantto buy a house at a lower
interest rate. And again, whatall happened is the White House
(07:47):
press secretary, this is Fridayafternoon, Caroline Levitt,
stated that the US will beimposing a 25% tariff on goods
imported from Canada and Mexico,along with a 10% tariff on goods
from China, all beginning onFebruary one. There were few
(08:09):
details that they reported abouthow the tariffs will be
implemented, or if certainindustries will be exempt, but a
more detailed plan will becoming, and of course, Mr. Money
will be talking about it when weget that. Why is this happening?
President Trump, I can now sayhe is our president. President
Trump has cited concerns overborder security as the primary
(08:32):
reason behind the tariffs, andagain, these universal tariffs
on imports from Canada andMexico will put some upward
pressure on inflation, becausethink about it, if, in fact,
it's going to cost them a wholelot more to bring the product in
then when it's now in America,they need to raise the price in
(08:52):
order to gain back some of that25% tariff, according to the US
Energy InformationAdministration, looking at the
Energy side, because, remember,so much of the energy is coming
from Canada. Specificallyadminister. Canada was
responsible for roughly 60% ofUS crude oil imports in the year
(09:12):
of 23 additionally, about 24% ofUS refinery throughput. What's
the word throughput. Mean, theamount of crude oil processed at
a refinery was from Canadiancrude oil imports. 24% of US
refinery from Canadian crude oilimports. Therefore, a 25%
(09:33):
universal tariff could lead tohigher prices at the pump for US
consumers. But Mr. Money, I'veheard Trump say, drill, baby,
drill. Yes, but you can say itdoesn't mean we have all this
additional oil that's now usableimmediately, and therefore
prices should come down.Inflation should come down
(09:55):
because we've got surplus now,so the prices can come down.
Yeah. So it may very well bethat there will be an increase,
and by the way, there's anotherkey industry that would be
intact impacted by thesetariffs, which is automobiles.
Yep, US automobile manufacturerssuch as Ford and GM have
(10:16):
manufacturing factories spanningacross North America as part of
the vehicle manufacturingprocess, parts can cross borders
multiple times throughoutassembly, and therefore tariffs
could put inflationary pressureon automobiles again. Details
remain unclear as to whethercertain goods, such as oil and
(10:37):
autos would be excluded fromtariffs, or whether they're
going to be included. So Mr.Money is here to say the market
is queasy. They're a bit worriedabout what these tariffs are
going to be and well, it causedinflation, which the Federal
Reserve has been trying foryears to bring down inflation,
but at the moment, people areworried, will the tariffs go
(10:59):
cause inflation to go up, up,up. We shall see. The other
thing that was important lastweek I should mention also is
interest rates. The feds,Federal Open Market Committee.
We call it the FOMC, FederalOpen Market Committee. They're
the ones that decide on interestrates, as you recall, and Mr.
(11:22):
Money speaks about it weekly,that interest rates were dropped
a quarter of a point, a quarterof a point, half a point three
times last year, one percentagepoint total. And again, their
meeting was now for this year.And so what did the Fed do? They
concluded its January meetingthis last week, and they
(11:43):
maintained its target range forfederal funds rate at 4.25 to
4.5% in other words, the Fed istaking a more patient approach
toward easing policy, easingmonetary policy because,
according to them, we've gotsome solid economic growth. We
got a healthy labor market, eventhough we have policy
(12:08):
uncertainty around Trump. Soagain, it's clear to see
interest rates are still a verybig deal. But again, the Fed
held steady. They did not dropinterest rates this last week.
The Federal Reserve Chairman.His name is Jerome Powell, by
the way, said, quote, officialsare not in a hurry to lower
interest rates, adding that thecentral bank is pausing to see
(12:31):
further progress on inflationfollowing a string of rate
reductions last year. In hispost meeting statement,
officials repeated and repeatedthat inflation remains somewhat
elevated, but removed areference to it having made
progress toward the 2% goal. Soagain, they noted that
(12:52):
unemployment rate is at astabilized rate. It's at 4.1% by
the way, and so we'll see whathappens. So the Feds did not
lower interest rates, and thatwas a big deal for last week. So
all in all, we are now sittingand looking at what will the
Federal Reserve do? What isgoing to happen with interest
(13:13):
rates? We talk about it weekly.It matters. What is the Trump
administration going to do withthese tariffs? If you notice
what I said carefully, I saidthey announced it Friday, and I
also said it goes into effectbeginning February one. Or does
it go into effect immediately?Could it be Trump is positioning
(13:36):
himself for more negotiations?Yes, they're negation
negotiating with all thesecountries at the moment, yes,
we'll see. So that'll be oneveryone's mind is, what do
those tariffs get enacted on?Which products does it get
enacted? And in fact, willinflation as a result go higher,
be unaffected, or go lower as aresult? That's all the key items
(14:00):
we're looking at. The other keyitem I should mention is this
debt. It's just over a trilliondollars a year. You pay an
interest on the debt, way morethan you spend on Defense and
other agencies in the USgovernment. So again, we're
looking to see what Trump'sgoing to do with bringing down
debt, hopefully deregulationthat he's talked about will have
(14:23):
companies more profitable, makemore money reinvested into
industry, into people, and maybethey're with all the profit, be
paying more in income tax thatcan be used to bring down the
debt, but it is unsustainableour debt, So Mr. Money will be
watching that very closely also.And again, though, what's the
(14:44):
bottom line? Watch for thesetariffs. What will they affect
in the short term, middle termand long term? We'll be
monitoring it all year. When wecome back, Mr. Money is going to
talk about taxes, but morespecifically. Money if you're
self employed, or you're acontractor, or your company or
(15:06):
company you work for is payingyou as a contractor, not an
employee. Does that matter? Mr.Money? Can I just receive my
money and call it a day, or doesit matter how the company pays
you? We're going to talk aboutwhat the IRS says about that
when we come back. This is Mr.Money.
Unknown (15:27):
Let me tell you how it will be. There's one for you, 19
for me, because I'm the tightsman.
Mark Rothstein (15:48):
Yes, I am the tax man in this segment of the
radio show. Welcome all mylisteners. And for some people,
they get turned off by the taxsection. Me. I get turned on. It
is an opportunity to save money.It's an opportunity to educate
and teach. It's an Educate toprotect my listeners so they're
(16:10):
doing things correctly, and sothat's why I thought I would do
this right now. Because rightnow it is now February one.
Deadlines are here. Employershave to send out their w2 the
wage statements to all theemployees. And by the way, if
you're self employed, theemployers, the people that hired
(16:33):
you, they're supposed to sendout a form that says, we paid
you X amount. As self employed,you receive something called the
1099 form. And as a result, yougot to report the income you
made. And many times they haveto issue the 1099 I shouldn't
say many times, all the time,they need to issue that 1099 so
(16:55):
I want to do a section on hiringsomeone as an independent
contractor versus your hiringand working with someone and
they're paid as an employee.Among some of these benefits are
this independent contractors canbe hired on a per project basis
(17:16):
and let go when the project iscomplete. So when you can hire
somebody, and they're acontractor. They're hired on a
per project basis. They're letgo in the project is complete.
That's one of a couple factorsyou need to do to pay them that
way. Remember, if you pay themas an employee, then you have to
(17:37):
go through and do all thepayroll taxes, and you have to
pay unemployment and employmentall these taxes when you put
them through that, not tomention you have to pay 7.65% of
their wage into the governmentfor Social Security and
Medicare. So an employer whohires an employee has to pay
(17:59):
that 7.65% out of their pocket,not to mention they've got
whatever employee benefits aregiven they've got a whole lot of
costs when it's an employee. SoI would like to maybe hire them
as an independent contractor. Sothere's certain things you got
to do to pay them as anindependent cock contractor.
Again, an independentcontractor, to me, says they can
(18:22):
be hired on a per project basis,let go on the project is
complete. They're oftenexperienced in their respective
fields and want to maintain adegree of independence. Like a
contractor. They do not requiresupervision that's necessary
with employees, because I'm acontractor, they don't have to
(18:44):
receive benefits or workerscomp, nothing like that. What's
the biggest risk, though, is theIRS has to determine and agree
with you that you're getting toavoid all the Employee Benefits,
employee payroll taxes, all thethings that go along with an
employee versus you're treatingthem as a self employed
(19:07):
contractor. Again, generally,the degree you control on that
person determines whetherthey're an independent
contractor and employee theamount of control employers
typically provide a workersmaterials, supplies, tools while
an independent contractor. Ifyou want to be known as that,
(19:29):
you're going to provide your owntools and workers. Employers set
an employee's work hours whilean independent contractor
usually gets to set their ownschedules. You bet the more
integrated or central a job isto the company's operations, the
more likely the workers to beconsidered employee. If they are
(19:52):
the central person inside ofthat work, they're integrated in
I went and found 11 majorfactors. That the IRS will ask
you about. So I thought I wouldtell you this. So if you want to
hire someone as a contractor andavoid having to pay the employee
benefits and go through payrolltaxes and the whole bit,
(20:14):
to protect yourself, here arethe key things the IRS will ask
you. Thought I would share itwith you. Here's how they define
employee. The worker must obeyinstructions concerning when or
how to perform the job. Okay,they're going to instruct you
concerning when and how toperform the job. Independent
contractor says workersresponsible for the outcome of
(20:35):
the job can determine how it isto be done. An employee, looking
person that needs a w2 wage andincluded with a payroll ways
where the company providestraining, whereas an independent
contractor, the worker may belicensed by a state board, may
have invested considerable sumsof time and money and training
(20:56):
themselves. Employee andservices must be performed by
the worker. The company hires,supervises or pays a worker's
assistance, or as an independentcontractor. Worker can hire
assistance and is responsiblefor their pay, totally
independent like the wordindependent contractor an
(21:17):
employee. How do they define theworker has an ongoing
relationship with the company,independent contractor. Worker
advertises or otherwise makesservices available to the
general public. How about anemployee? Company sets work
hours an independent contractor,the worker can set their own
(21:39):
work hours. An employee is thecompany requires full time work
at its business. Again, if youdon't want that person to be
considered an employee, if theIRS comes after you and you
don't want the company requiringfull time work at the business,
independent contractor is aworker. Can work for more than
one company at a time. Anemployee is defined by IRS,
(22:03):
company controls where the workis performed and the order in
which the tasks are done. Versusan independent contractor. The
worker can complete the tasks atthe office, then complete the
task at home. The worker decideshow to finish the job. So the
independent contractors,defining all those terms,
employee, again, you may notwant to call them an employee,
(22:27):
because then you've got all thepayroll taxes you've got to pay
7.65% of the amount you pay themfor Medicare, Social Security.
Again, in employees, the workerreceives payment by a hour, week
or month. Independentcontractors are usually paid on
a per job or commission basisperiod another employee, looking
(22:48):
person is the company providesthe tools and materials.
Independent contractor, theworker has personal tools,
equipment, materials and orfacilities, and often has
invested significantly in all ofthese items for themselves.
Another idea, the workergenerally doesn't take on
financial risk, and the companypays all your travel expense,
(23:11):
your business expenses, etc. I'man employee looking for
reimbursement, independentcontractor. The worker can
realize a profit or loss from ajob, and generally pays all
their expenses that they incur.Last thing on my points here,
employee, the worker can usuallyquit without liability for
(23:32):
failure to complete a job.That's an employee, an
independent contractor,different the worker is liable
for completing a job accordingto a contract for that job. So
again, very important foreveryone to notice, are you
going to hire them as acontractor, as an independent
contractor? Make sure you followthese things versus they're
(23:57):
being hired as an employee. Icertainly understand why you'd
like them as a contractor tosave a whole lot of expense. On
the other hand, if the IRS getswind of it, they may check, and
if they check, and it's more anemployee, they will make you go
back and do payroll taxes. Theywill be penalties, there will be
interest, there will be a lot ofmoney paid from the company to
(24:19):
make up for the employee, thenow employee, they consider
workers comp, payroll taxes,etc, plus employee benefits. So
do it right, so you don't haveto worry about is that person an
independent contractor? Is thatperson an employee? Doing it
right? Really does matter,speaking of doing it right, one
(24:42):
other item I wanted to mention.Here it is tax season now it has
started. People are filingimportant to have thought it
would run through just somethings you need to make sure is
your preparation checklist, onesocial security number or tax ID
number for you, your spouse,your. Pendants. You're going to
need it for your tax return, IP,your identity protection pin. If
(25:07):
the IRS has issued you one, yougot to put it on your tax
return. Make sure you keep thatpiece of paper that receipt so
you can get the I IdentityProtection pin on your return.
Get your bank routing number andaccount numbers. If you want
your refund to be done directdeposit electronically, then you
need to have that data to doyour tax return. Don't forget
(25:30):
your W twos. Don't forget your1090 9g if you received
unemployment benefits, don'tforget your 1099 forms. If
you're self employed, they'resending you that form of the
money they paid you. Don'tforget your schedule, K ones for
partnerships or things you'reinvolved in. Remember 1099
(25:50):
miscellaneous is saying you gotmore income there or 1099 NEC,
non employee compensation form.Remember 1099 make sure you got
them. Make sure you report them.There's the 1099 i n t for
interest. Report it 1090 9o i doriginal issued discount. That's
(26:13):
when you're buying bonds. Makesure you've got that form to
report on your tax return.Remember these 1090 nines went
to the IRS. They're looking forit on your tax return. 1099, div
for your dividends. How about a?1090 9b as in sales. 1090 9s for
sales B and S B for the sales ofstocks, S for sale of a home,
(26:36):
things like that. 1099 sa forwhen you had a health savings
account or a 1099 LTC, long termcare reimbursement. Again, Mr.
Money, you're giving me ideas mylong term care, there's a tax
deduction for that. Yes, my 1099sa for my savings account, my H
(26:59):
essays, yep, there's somethingformed for that. Don't forget
your 1040, ESS, your estimatedpayments. If you paid money
during the year. Don't forget toreport on your tax return that
you paid the government duringthe year quarterly. But Mr.
Money, I didn't pay quarterly. Iwas off. I made all my money in
the first quarter, so I sentmoney in on the April 15
(27:21):
quarterly I didn't make anymoney for six months, so I did
not send any money in on theJune 15 quarterly payment. And
in September 15, I did pay somemoney because I finally got
money in. Make sure your taxpreparer knows that IRS thinks
you made the money evenlythroughout the year. You're just
supposed to pay in money whenyou have earned income. So
(27:42):
again, make sure you report yourestimated payments and when you
got that money during the year.Don't forget your 1098, form
mortgage interest paid on thehouse deductible your real
estate property taxes, maybeyour personal property tax like
a DMV, car registration, tax.How about receipts for energy
(28:06):
saving, home improvements, solarpanels, solar water heater. How
about all those things? Don'tforget your EV electronic
vehicle information if youpurchased one last year. Mr.
Money wants to remind you aboutdonations. If you gave cash
amounts donated to houses ofworship or schools or other
(28:27):
charitable organizations, getthe receipt. Maybe you didn't
give cash, but you gave non cashcharitable donations, clothes
and automobile, etc. Keep thoserecords. Bring them to the tax
person, when you're doing yourtaxes, how about amount of miles
driven for charity or medical?Do you know that was deductible?
That's right back and forth tothe church, doing charity work
(28:50):
or back and forth. Doing anycharity work is deductible.
Miles and back and forth for themedical to go get your
prescriptions and drugs, govisit your doctor, go get your
physical therapy, whatever itmay be. On the medical side,
keep track of medical models. Itis a deduction. How about amount
you paid for health care andhealth insurance premiums? Yep.
(29:14):
Keep track. Report it. How abouta form 1095, a Mr. Money's had
trouble with that, with clientsthat forget to bring in the
1095, a what is that form ifyou've enrolled in an insurance
plan through the Affordable CareAct, Obamacare marketplace got a
report that you got a reductionor what you ended up paying
(29:36):
under the Affordable Care Act.Important to do? How about fees
you paid to a licensed daycarecenter or family daycare for
care of an infant or apreschooler, or amount you paid
to a babysitter or care providerfor your child younger than 13
while you were working. Howabout this one again? I got an
(29:56):
exhaustive list. When I do a taxreturn, I ask a whole. Whole lot
of questions, looking for asmany deductions as I can find.
Here's some more. I ask aboutexpenses paid through a
dependent care flexible spendingaccount. So did you know you can
have money come out of yourpaycheck, reduces your taxable
wages. You've now got moneyinternally that have been taken
(30:18):
out. And again, you just have togive a receipt and say, Would
you please reimburse me for theamount I paid for this dependent
care for my child so I couldwork? How about a form 1090, 8t
Yep, got a lot of those tuitionstatement for educational
institutions. That's right,there's a deduction for that
(30:38):
too. You're paying for yourchild in college, those tuition
you're paying is deductible,along with their school
supplies, along with a computerthey may need, etc. Don't forget
that one. How aboutscholarships? If you received a
scholarship or fellowship again,let your tax person know that
(30:58):
maybe you've got a 1090 8e ifyou paid student loan interest,
there's a tax deduction forstudent loan interest goes on
your tax return as anadjustment. How about amount of
state and local income or salestaxes paid many times? We need
that number. How about vehiclesales tax? You betcha, you
(31:18):
bought a car and you paid salestax, there's a spot for that on
the tax return. You might evenhave a form, 5498 showing IRA
contributions. So again, I got awhole host of these, and over
the next few weeks, I'll go intodetails on some of these for
everyone, but a nice, long taxpreparation checklist. Make sure
(31:41):
you've got all the things youneed, most especially getting a
refund. Make sure you have yourbank routing number and account
numbers you can put it on thereturn and get your money back
within 21 days, hopefully. Veryimportant item there. And if
you've ever had identity theft,go to irs.gov
get yourself the IRS IdentityProtection pin and then use that
(32:05):
on your tax return so you can'tbe hurt by somebody absconding
with your information in any wayregarding the IRS. When we come
back, Mr. Money is going to talkabout something that just
concerns everybody. That'sright. What is it? I'll say what
it is. It's all thoseinsurances. Anybody notice home
(32:27):
insurance go up? Anybody noticeauto insurance go up? I thought
I would explain why it's goingup and then show you how you can
reduce it and pay less for yourhome insurance and less on your
auto insurance. All when we comeback. This is Mr. Money. Welcome
Unknown (32:44):
back to the Mr. Money show on K I do talk radio, 1075
FM and 580 AM.
Mark Rothstein (32:57):
Mr. Money is listening to the music, but it's
time to do a little talking. Weare here. Live downtown Boise.
That's right in the K I dostudios. If you'd like to dial
in 5805436, Mr. Producer, openthe lines. If people want to
talk about taxes, maybe theywant to talk about the Trump
tariffs we've spoken about.Maybe they want to talk about
(33:20):
this topic, which is the outlookfor home and automobile
insurance. That's right, we haveall seen premiums for our
homeowners and automobileinsurance rise sharply. I
certainly have seen it, mygoodness. And there are several
factors I thought I'd mention.Why is it going up prior to the
(33:41):
year 2022 the insurance marketwent through a phase of lower
than normal hurricane activity,but hurricane activity spiked in
the year 22 and 23 and it mayhave mentioned we had a whole
lot of that in 24 also all thatcoincided with This inflationary
increase in different sectors,and that affected homeowners
(34:03):
insurance. If you look at theconsumer price index of all
consumer goods, boy, I hatesaying this. If you look at the
consumer price index of allconsumer good, prices have
increased by 20 to 30 to 40%overall, between 2020 and 2024
(34:23):
we've seen massive increases,many times in the average of 30%
increase. But the constructionindustry, that's the point, was
hit much harder, 35% to 40% fortrade services, lumber,
concrete, asphalt and otherthings that are required to
replace and repair homes. Inother words, the inflationary
(34:45):
impact of goods and servicesaffecting the insurance industry
has increased at roughly twicethe pace relative to other
industries. This is what's goingon behind this home insurance as
a. Result, we have found thatthese costs have been passed
along to customers. So all theseincreased costs for the home
(35:07):
have been put to us under theinsurance side, because it costs
so so much to replace items inyour home because of all the
inflation inside of asphalt andlumber and concrete, etc, the
auto industry also has supplychain issues. Early in COVID
pandemic spilled into 2122 costsof parts and supplies rose
(35:31):
dramatically during the periodthese last few years, and the
cost of repairing your vehiclesrose along with it. Time
required for vehicle repairs hasgrown as well, which increases
the need for expense for rentalcars, driving up the overall
cost of repairs. Again, costsare underneath all this. So
(35:52):
these increased costs are stillpresent today, and they're
simply being passed on to all ofus for all of this increase in
auto insurance and this increasein home insurance, what's the
outlook going forward? I hate tosay it, but there's certainly
been in 24 a whole lot ofhurricanes, a whole lot of fire
in different parts of thecountry. The most recent,
(36:12):
obviously, LA. And while overallpricing may not be going down,
the rate of increase they hopewill level off. I'm not so
certain about that. Maybe autoinsurance may not keep going up
so high, but I certainly worryabout homeowner insurance,
insurance. Cari says we'rebeginning to see improving
(36:33):
financial pictures. They werebeginning to see it. Then along
came the impacts of Helene fire,Hurricane Milton. Coming back to
back in the fall of 24 is prettydramatic, also. So again,
weather is actually a part ofall of this, of why you're home
and auto insurance. Good newsis, Mr. Money will have an
(36:54):
answer for us at the end ofreducing it, but that's just
what's been going on. Willinsurers continue to leave
states that have been hit bynatural disasters, you may say,
with all that's going on in LA,are people leaving Yes, with all
that's going on in Florida, arepeople leaving Yes? All
indicators in the propertymarket seem to suggest that it
(37:17):
will continue to be difficultpeople in Florida may be used to
insurance companies leaving, butnow you're seeing it happen that
insurance companies leaving. Youcan't get insurance in from
certain companies in Florida,but now you're seeing insurance
companies no longer offeringservices in the Midwest and the
plain states too. So what may beone of the answers is starting
(37:41):
to work with an independentagent who can offer options from
multiple insurance companiesthat will give homeowners as
much better opportunity to findcoverage. You know, an
independent will look around atall different companies out
there. What steps can us carowners and homeowners take to
lower these insurance premiums.Mention that next with regard to
(38:04):
auto insurance, of course, theyalways say, practice safe
driving habits, doing all youcan to prevent losses, doing all
you can to not get in anaccident, obviously, having a
good credit score. Do you knowthat having a good credit score
also helps your rates, becausein recent decades, they've seen
(38:25):
credit does impact how carriersprice increase. You tend to have
a low credit score. You tend tobe paying more for insurance
homeowners, proper maintenanceof your home, proper roof
plumbing, electrical, HVAC isparamount. You also want to
review your deductibles anddetermine how much you can
afford to pay before insurancekicks in. That's always
(38:47):
something you can do, always,always, always look at your
deductible if you raise yourdeductible, which means you have
to pay more the cost if there'sdamage, the premium, the cost to
you will come down. So maybe youshould increase the deductible
on your home and auto insurancethat will bring it lower, and
then, like that Super Bowl kindof commercial, the football
(39:09):
commercial that we see bundleyour auto and home insurance
with the same company can alsosave you money. That's
absolutely true. So again, whenyou're shopping to bring down
your home insurance, and I thinkeveryone should look to bring
down their home insurance, theircar insurance every year. Make a
few phone calls and check maybebundling, and we'll make it
(39:32):
cheaper. But Mr. Money, I'vealready bundled. Well, maybe
cheaper to bundle with thiscompany versus another company.
Maybe this company's subject toall the fires in LA so they're
raising their rates across thecountry, and so as a result,
maybe you should be bundlingelsewhere. All Mr. Bunnies
saying. All I am saying ischeck. The other thing you can
(39:53):
do is called usage basedinsurance. You be a. Usage based
insurance. What is this usagebased insurance I'm talking
about these rates are based onreal time tracking of consumers
driving habits. Unliketraditional insurance, premiums
(40:15):
are based on past drivingrecords. That's the way it
normally is be UBI does itdifferently under UBI, again,
usage based insurance. How doesUBI do it? They use telematics
technology, often on your mobilephone, to track customer driving
patterns, and then they offerdiscounts based on safe driving
(40:37):
and fewer miles driven. Soagain, Mr. Money is here to say,
check with your company, do theydo something called usage based
insurance, where it's reallybased on my usage, not so much,
just simply on the waytraditional insurance premiums
do it based on your past drivingrecord and your credit score.
(40:58):
Tesla owners who buy insurancefrom electronic vehicle giant
from Tesla already have UBIpolicies, because that's all
Tesla offers. So again,typically, customers can save
about 10% compared with theirtraditional auto insurance
policy by doing the UBI so Mr.Money's ending this segment
(41:24):
saying usage based insurance.Yes, you get tracked. I'm sorry
you're getting tracked. Soprivacy is a big deal. Maybe
this isn't for you, but ifyou're okay to do the usage
based insurance, where they'redoing analytics, where they're
actually seeing how much youreally drive, and they're
tracking you, seeing yourpatterns, you may get a nice 10%
(41:47):
discount from what you'repaying, something worth looking
at when we come back, Mr.Money's got a little more to
talk about. What's that littlemore for this week? It's this,
protecting your child fromidentity theft. Your kids are on
the internet. Your kids areplaying on the internet. Are you
protecting your kids fromidentity theft? Gonna talk about
(42:09):
that and ways to prevent anyidentity theft to your children
when we come back, this is Mr.Money.
Unknown (42:21):
Welcome back to the Mr. Money show on K I do talk radio,
1075, FM and 580 am
Mark Rothstein (42:28):
Mr. Money's in the House talking about identity
theft, but a little bitdifferently. Of course, I've
done many shows on identitytheft to protect yourself. But
what about protecting your childis that important? You bet it's
important. Identity theft canhave a significant impact,
especially when involveschildren. The Cyber criminals
(42:52):
target the identities ofchildren because they have
unblemished credit historiesthat tend to be infrequently
reviewed. That means a fraud maygo undetected for years, often
until the child has a creditreport run. By the way, Mr.
Money has spoken in the past,sometimes add your child's name
to your credit, put them on yourcredit card, and as long as you
(43:16):
keep making your payments andhave a good credit score, it
will affect your child startinglife when they're ready to start
it with a high score. Just alittle thing we've talked about
in the past, but identity theftamong people under 18, I want
you to know is on the rise.Today's kids are increasingly
active online. My two childrenare and using mobile apps,
(43:38):
social media platforms. They'reexposing them, these kids just
exposing themselves to greaterrisk of data theft ever before.
I know seems like my girls areon their 24/7 those with access
to shared peer to peer paymentaccounts, remember those with
(43:58):
access to shared peer to peerpayment accounts such as Venmo
here, here, use my credit cardmy child and go ahead and buy
yourself X amount on theinternet for yourself, such as
Venmo Zelle Cash App and paidonline accounts for online
gaming and streaming servicesput the entire family at risk
(44:20):
for data theft. In fact,children can sometimes become
the gateway to broader schemesthat affect all members of the
House. So again, you've got totalk to your children about it,
about protecting the identity,protecting your credit card. We
simply don't want dishonestindividuals gaining control of
(44:41):
the personally identifiableinformation. They call it the
PII, by the way, personality,personally identifiable
information, and they use thatidentification information to
commit fraud, etc. So watch outfor that addition. Parents or
children can inadvertentlydisclose sensitive information
(45:03):
through online birthannouncements, birthday party
invitations, social media posts,or when registering for school
or completing online forms for adoctor visit, a hacker may be
able to steal a child's identityby cobbling together his or her
birth date, address, phonenumber. Alternative cyber
(45:25):
criminals can use datafragments, such as one child's
birth date, social securitynumbers of another to build a
synthetic identity. So there's awhole lot of cyber criminals
inside the Internet where thekids are playing, and you need
to watch out to that one otherpoint I should mention here,
kids from households with annualincome of at least 150,000 or
(45:48):
more likely to have their datacompromised than kids from less
affluent households. So again,the cyber criminals are looking
for the wealthier kids wherethere's more money that they can
try to steal. More than aquarter of the kids from the
highest income households. 26%were targeted by identity theft
(46:12):
scams in the last six years,according to child ID theft sold
social cyber risks. All right,so what do we watch out for?
Let's get to the point here.What do we watch out for?
Anything that seems out of theordinary may indicate that a
child's identity your child hasbeen compromised. For instance,
receiving unsolicited creditcard offers in a child's name,
(46:36):
that's a red flag. Debtcollection calls all of a sudden
you get for your childcorrespondence from state and
federal tax authorities can bered flags associated with
identity theft. Additionalwarning signs include
illegitimate medical bills. Allof a sudden you get or
unexpected charges in a creditreport and denial of government
(47:00):
benefits on behalf of a child.So those are what you're
watching out for. They canhappen once they steal, they
your identity. They do all thesethings. So Mr. Money, how do I
prevent data theft? Miners aremore likely to overshare about
themselves on social media. Theyaccept friend requests from
(47:21):
strangers, they post contactpublicly and check in at
locations such as vacationdestinations or social
activities. So again, educateyour child about the risk of
identity theft. They shouldunderstand what is and isn't
acceptable to share online. Yougotta teach them how to
(47:42):
recognize phishing emails andhow scammers exploit social
media, shopping and gamingplatforms. Key there is gaming
platforms. The kids seem to loveit, and we're always going
there. My kids included. Soproactive steps you can take to
protect your miners from thesescams. One explain what can
(48:02):
happen if your personalinformations, such as address,
phone number and age is sharedonline. Don't do it. Use privacy
tools. Take advantage of privacytools on social media online
accounts, select the mostrestrictive settings. That's
right. I said the mostrestrictive settings, monitor
social media accounts, often toensure your child doesn't share
(48:26):
their PII their personalinformation, encourage your
child to accept friend requestsonly, only from people they
know. Secure devices. Yep, weshould be doing that as parents
use strong passwords and ensureyour child updates the operating
system when prompted, consideradding software to monitor
(48:48):
activity. Limiting the sitesyour child visits, that's right.
Limit where they're visiting.Limit data sharing. Share your
child's social security numberonly when necessary by the same,
by the way, same for yourself,only when necessary. If a
doctor's office or schoolrequests it, ask why it's needed
and how they intend to protectit. Store your paper records and
(49:11):
include your child's personalinformation secure location. Of
course, if you need dispose ofdocuments, my wife does is if
you need to dispose of documentsthat contain sensitive data,
shred them before placing themin the trash. I always smile
when my wife does that all thetime. Delete digital
information. Delete personalinformation from every device
(49:35):
you dispose of, includingreformatting hard drives. Check
the credit reports, as Imentioned, make sure you're
checking them. See if your childhas a credit report, if it does
exist, scrutinize every line ofand dispute any unfamiliar
items. And finally, consider theexample you set when engaging
with others online. Yourself,your kids are watching you. So
(49:59):
again, show. Show them theproper habits to have when
you're online and regarding whatyou're sharing or not sharing,
this is all crucial and all veryimportant. Mr. Money wants to
protect your child as much asMr. Money wants to protect
yourself. Identity theft isrampant. Just remember to do it
(50:19):
for your children, just like youdo it for yourself. If your
child's in college, they're nottoo old, take a look at it.
Protect them also. It'shappening on the campuses. Mr.
Money will be back nextSaturday, 2pm I thank you for
listening. The music says, Goodday, Mr. Money. Information
Unknown (50:40):
and opinions presented are for general information only
and are not intended to providespecific advice or
recommendations for anyindividual you should contact
your investment professional,attorney, accountant or tax
advisor regarding yourindividual situation. The
opinions of the presenter do notnecessarily reflect those of
independent Financial Group LLC,its affiliates, officers or
directors. Mark Rothstein, akaMr. Money, is the owner of tri
star financial LLC and TristarIncome Tax Services LLC, Mr.
(51:02):
Money is a marketing name only,and is not intended as anything
other than a marketing name forentertainment purposes.
Securities and advisory servicesoffered through independent
Financial Group LLC, aregistered investment advisor
member, F, I N, R, A, S, i, p,c, tri star financial LLC, tri
star Income Tax Services LLC andindependent Financial Group LLC
are unaffiliated entities.
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I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
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The latest news in 4 minutes updated every hour, every day.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.