Understanding Tax Deductions with Jim Sumpter from CMC Financi…

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Understanding Tax Deductions with Jim Sumpter from CMC Financial (Ep.17)

March 19, 2024

Do you want to learn how to maximize your deductions, understand the latest tax laws, and optimize your financial planning strategies for the upcoming tax season?

Join Jack Burnette and Alison Castellano with their guest Jim Sumpter, President of CMC Financial and Vice President of RFG Advisory. Jim’s insights on tax deductions, IRA options, state tax implications, and new IRS reporting requirements offer valuable information for listeners looking to navigate their financial affairs effectively.

Jack, Alison, and Jim discuss:

What are some key strategies for tax preparation, deductions, and credits to optimize tax outcomes for individuals and couples
How can retirement savings accounts like SEP IRAs and 401k plans benefit self-employed individuals
What are the tax benefits of 529 plans for college savings, and how can residents of different states maximize these benefits through rollovers
How do new tax reporting requirements for platforms like Venmo and PayPal impact individuals’ tax obligations
And more

Resource:

Embracing The Work-Life Balance At Deer Valley Resort (Ep.16)

Connect with Alison Castellano:

Connect with Jack Burnette:

Connect with Jim Sumpter:

About Our Guest:

Jim has more than 20 years of experience helping clients achieve their financial goals. He is a CERTIFIED FINANCIAL PLANNER CFP® and holds FINRA Series 7, 65, 63, 31 licenses in Alabama, Georgia, New York, Pennsylvania, and Vermont. He also holds Life, Health, and Variable Annuity Licenses. He is a member of the Financial Planning Association (FPA), National Association of Tax Professionals (NATP), and Leadership Shelby County. He is also a StrongHer Money Ambassador.

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