Proactive Retirement and Tax Efficiency with Alexis Gallati

About Alexis Gallati: Alexis E. Gallati is the founder and Lead Tax Strategist at Cerebral Tax Advisors, Cerebral Wealth Academy, and the author of the book Advanced Tax Planning for Medical Professionals. She has over 20 years of experience in high-level strategic tax planning and multi-state tax preparation and has trained at the highest level, holding two master’s degrees. Alexis grew up in a family of physicians and is married to a private practice physician. That’s why she understands how hard medical professionals work to get where they are and why she provides simple and accessible tax solutions tailored to busy physicians.

In this episode, Shawn and Alexis Gallati discuss:

• Efficient tax planning tailored to medical professionals
• Planning for retirement while balancing financial priorities
• Emerging trends and tools in tax strategies
• Navigating multi-state tax complexities for businesses and individuals

Key Takeaways:

• Developing a proactive tax plan helps individuals optimize their current and future tax years by ensuring strategies are correctly implemented and reported to reduce liabilities.
• While supporting children’s education is important, focusing on retirement savings first is essential because education loans exist, but no loans can support retirement income.
• Employer-matched 401(k) contributions provide immediate, significant returns, yet many fail to utilize them, potentially leaving thousands of dollars in unclaimed benefits.
• Strategies like the backdoor Roth IRA enable high earners to legally bypass contribution limits and grow tax-free wealth if executed without triggering pro-rata rules. 

"Saving for retirement is actually a huge problem that people have because they just don’t think about it until they’re almost ready to retire, and that’s a huge mistake." — Alexis Gallati

 

Connect with Alexis Gallati: 

Website: https://www.cerebraltaxadvisors.com/ & https://www.cerebralwealthacademy.com

Book: Advanced Tax Planning for Medical Professionals: A Concise Guide to Tax Reduction Strategies: https://www.amazon.com/Advanced-Tax-Planning-Medical-Professionals/dp/B0858SZZFR

YouTube: https://youtube.com/@cere