2013 Financial Empowerment Podcasts

Financial Empowerment is a service of CalCPA Institute. Our podcasts help consumers make sense of today’s complex financial issues. Most podcasts are under 15 minutes in length.

E-mail your questions to FinancialEmpowerment@calcpa.org.


October 2013

Keeping Taxes Low in Retirement

Are you nearing retirement, or are you retired? If so, you probably will want to keep your tax obligations as low as legally possible. Mary Kay Foss, a Danville, Calif., CPA and tax expert, provides some tips that may help reduce your payments to the Internal Revenue Service. For example, she notes that because retirees are usually in a lower tax bracket than they were during their income-producing years, bunching income tax deductions might be a good strategy. What is bunching? Find out by listening to our podcast.

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Links discussed in this podcast:  

Retirement Calculators at The Motley Fool

Social Security Administration


June 2013 

Financial Planning Needs of Women

Do a woman's financial planning needs differ from those of a man? CPA J.D. Miller of Vallejo, California, has some thoughts on that subject. Although he has clients of both sexes, he specializes in advising women on financial matters.

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May 2013

What Lenders Seek from Borrowers

Few of us could manage our financial lives without taking out a loan every now and then. We need loans to buy a house, to purchase a car and to afford such things as dishwashers and television sets. According to the most recent figures from the Federal Reserve, Americans have taken out loans totaling more than $2.8 trillion, or roughly $8,900 for every individual. In this podcast, we interview CPA Michele Day about sources for loans and what factors both lenders and borrowers consider when a personal loan is applied for.

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Links discussed in this podcast:





March 2013

Advantages of a Living Trust

What is your plan for distributing your estate after your death? That may seem like a morbid question, but if you have heirs and assets, you should be considering that question. Essentially you can give three responses: Do nothing, which means no plan. Draft a will. And, thirdly, establish a living trust. If you do nothing, the state will divvy up your property. If you have a will, you decide who gets what you own but the state oversees the distribution during probate. However, if you form a living trust--specifically a revocable living trust--you decide who gets your assets, and the state will not be involved in the distribution process. Gloria Birnkrant, a Los Angeles CPA who has helped develop estate plans for hundreds of clients, discusses the advantages of living trusts.

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February 2013

Handling Back Taxes Notifications

Filing income taxes is a stressful process for many people, even if you use a professional tax preparer like a certified public accountant. Most of us are relieved of the stress once we post the 1040 form to the Internal Revenue Service. But if you underreported income or neglected to file when you should, you may eventually receive a letter from the IRS claiming that you owe back taxes. What should you do if that happens? We talked with Costa Mesa, California, CPA Janet Krochman about how to respond to such notifications.

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