My employer will occasionally offer financial webinars. Met Life provided this one. I listened to this between calls so any misinformation is the fault of the note taker.

• If in tax-deferred account 401/Ira
• If pay 100 in Roth you pay tax of 25% then but no more tax later.
• Pay tax on interest of bank savings. Pay tax on interest, the same with stock.
• If get a lot of money back from refunds> better to reset tax deductibles to have fewer refunds.
• 401/K limits > $20,500 under 50 over $26000 over 50.
• Flex spending is attached to health insurance spending. Take money pretax and deposit to a flex spending account for medical needs. Max starts Jan 1st over the year every paycheck will hold set aside money to make up for build throughout the year. Need to spend the full amount for the year. Get big discounts on medical expenses.
• HSA is more flexible than FSA. Make the pretax contributions and act balances are over them. Don’t have to spend an amount at end of the year. $7,300 per family. Invest in long-term growth. Pay medical out of pocket, keep your details and you can get the money you send yourself and use funds matching that amount for yourself.
• Put money in tax-deferred and take out without tax.
• IRA: 6K under age 50 limi5, 7 k over age 50.
• Life insurance: cash value > accumulate tax-deferred. Withdraw has a special tax treatment. Tax-free. They grow based on how well the company is doing. A dividend is usually 6 % that can draw on money when the market is down.
• See home: we can exclude 500K if married > npt lay on a capital gain. Need to live in home2 of 5 yrs.
• When inheriting a home or stock there is a step on basis. > inherit. Can sell it all same day no tax.
• Standard deduction on taxes: if single exclude about 12k married 25K.
• Money set aside for kids and grandkids education can be tax-deductible.
• AMT: alternative minimum tax: tax system run parallel to the existing tax system. It is used to prevent financial engineering. Alternative tax system.
• The federal estate tax can be given before you die and not be taxed. (I think) after death 40% (maybe).
• Some use trust to shelter assets.
• Receipts: keep receipts of everything including cashed checks.
• Understanding brackets of taxes. A. One is charged taxes by amount’s first 12K b. after that 10K etc. that gets charges percentage by.
• Diversifications can help your finance plan.
• You to cut your tax bill today legally.
• See what is coming in the future.

Got this additional info from an email from the presenters:

1. Remember it’s your effective tax rate, not your tax bracket that matters most.
2. it’s important to be tax-diversified: that means a little bit in each of the taxable, tax-deferred, and tax-free buckets.
3. Think of the HSA as a “Medical 401k” if possible.
4. If you have children prepare for what the changes to the child tax credit might mean for you and consider utilizing the dependent care FSA.
5. Consider the back door Roth conversion technique while it is available.