105: Do THIS When You Quit Your 9-5

11/11/2024 12 min

Listen "105: Do THIS When You Quit Your 9-5"

Episode Synopsis

Ready to save $10k-$50k in taxes this year? Book a call here:► https://taxstrategy365.com/pod-appIn this episode, I discuss the five critical things to watch out for when switching jobs, whether transitioning between employers or moving from W2 to 1099 status. We explore essential considerations including COBRA insurance coverage, managing your 401(k) rollover options, and strategic tax planning opportunities during employment transitions. I also share valuable insights about Roth conversion opportunities during income changes and the important differences between W2 and 1099 employment benefits.Timestamps:00:00:00 Intro00:01:07 COBRA Insurance and Health Benefits During Job Transitions00:01:55 Managing 401(k) Rollovers and Investment Options00:06:02 Strategic Timing for Roth Conversions00:07:17 Year-End Tax Projections and Social Security Considerations00:09:34 W2 vs 1099: Benefits Analysis and Lending ImplicationsWant me to answer your questions live? Come to my next Ask Me Anything Q&A:► https://taxstrategy365.com/pod-amaLet's connect!► Instagram: https://www.instagram.com/ryanbakkecpa/► LinkedIn: https://www.linkedin.com/in/learnlikeacpa/► Twitter: https://x.com/RyanBakkeCPA► Facebook: https://www.facebook.com/ryanbakkecpa► TikTok: https://www.tiktok.com/@ryanbakkecpa*None of this is meant to be specific investment advice, it's for entertainment purposes only.