Your Trusted Advisor with Tan Phan, MSFP, CFP®

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Hi everyone, my name is Tan, and I am an independent CERTIFIED FINANCIAL PLANNER™ practitioner at TAN Wealth Management. The purpose of this educational video is to provide a basic understanding and awareness of the Qualified Opportunity Zone (QOZ). Overview - What is a qualified opportunity zone (QOZ)? - What is a qualified opportunity fund (QOF)? - What are the tax benefits to the investors? - Quotes directly from the IRS website

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Alternative Minimum Tax (AMT) Credit - how incentive stock options trigger alternative minimum tax and how alternative minimum tax credits are used to offset regular tax liability. Hi everyone. My name is Tan and I am an independent Certified Financial Planner Practitioner at TAN Wealth Management. In today’s educational video, I will go over 4 scenarios so you can better understand how incentive stock options trigger alternative minimum tax and how alternative minimum tax credits are used to offset regular tax liability.

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview - Why does alternative minimum tax exist? - What is the alternative minimum tax (AMT)? - How to calculate alternative minimum tax - How to calculate alternative minimum tax income (AMTI) - How to calculate alternative minimum tax (AMT) - What is an alternative minimum tax exemption? - What are the 2021 AMT exemption amounts? - In general, what does “phaseout” mean? - The alternative minimum tax exemption phaseout - Why you should not go over the annual alternative minimum tax income phaseout amount - What are the alternative minimum tax rates for 2021? - What happens when you exercise incentive stock options (ISOs)? - Form 6251 - AMT credit - Using AMT credit - Why do you get taxed on the bargain element if you are subject to AMT? - I am currently not subject to AMT liability. How do I know if I am subjected to AMT liability when I exercise my ISOs? - Understanding the relationship between alternative minimum tax and incentive stock options - Does California have AMT? - AMT and incentive stock options in non-public companies

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview - What is the 3.8% Net Investment Income Tax (NIIT)? - What individuals are subject to the Net Investment Income Tax? - What is modified adjusted gross income? - Different modified adjusted gross incomes relate to different topics - What is the modified adjusted gross income for Net Investment Income Tax purposes? - What is included in the Net Investment Income Tax? - “What are some common types of income that are not Net Investment Income?

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview - What is net unrealized appreciation (NUA)? - What is the net unrealized appreciation strategy? - What are the net unrealized appreciation (NUA) qualifying events? - The two net unrealized appreciation (NUA) taxable events - Net unrealized appreciation strategy examples - Disadvantages of the NUA strategy - Should conservative investors do the NUA strategy? - Does the 3.8% net investment income tax apply to the net unrealized appreciation? - Does the 10% early withdrawal penalty apply to the NUA strategy? - Net unrealized appreciation strategy insights

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview: - What are restricted stock units? - Grant date explanation. - Vesting period explanation. - Types of vesting schedules. - How to estimate your restricted stock units (RSUs) and restricted stock value? - What is an Internal Revenue Code Section 83(b) election? - Dividends. - Vesting Date. - Internal Revenue Code section 409A. - Tax withholding methods starting with the highest risk due to a concentrated stock position. - Examples of tax withholding methods. - Stock Swap. - Estimated tax due. - Sell Date. - What should I do after my restricted stock units and/or restricted stock vested? - If you sell the employer’s stock, you should understand your tax liability. - Avoid insider trading with a Rule 10b5-1 Trading Plan. - What you should know about restricted stock units and restricted stock plans. - Questions to ask your employer so you can truly understand your restricted stock units and restricted stock plans. - Choices you need to decide to optimize your restricted stocks units. - Tracking your restricted stock units and restricted stock is key. - Frequently asked questions on restricted stock units (RSUs) and restricted stock. - How can I maximize my restricted stock units and/or restricted stock? - What are the top 3 things to love about restricted stock units (RSUs) and restricted stock? - What are my restricted stock units and/or restricted stock cost basis, and what happens to the shares my company withholds for taxes? - My restricted stock units and/or restricted stock vested, I sold shares of my employer’s stock at a loss, how am I taxed? - What happens to my restricted stock units and/or restricted stock when my company’s stock splits? - When should I sell my restricted stock units (RSUs) and/or restricted stock? - What are the disadvantages of restricted stock units and restricted stock? - What are the common mistakes with restricted stock units and restricted stock? - Problems with restricted stock units (RSUs) and restricted stock employees are confused about. - How are restricted stock units (RSUs) and restricted stock taxed? - Taxation summary. - Restricted stock units summary. - Strategies to consider with restricted stock units and restricted stock. - Take advantage of the volatility in the stock price.

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview: - What is restricted stock? - Grant date explanation. - Substantial risk of forfeiture. - Vesting period explanation. - Types of vesting schedules - How to estimate your restricted stock units (RSUs) and restricted stock value? - What is an Internal Revenue Code Section 83(b) election? - An advantage of making an 83(b) election. - 5 disadvantages of making an 83(b) election. - Examples of advantages and disadvantages of making an 83(b) election: - Should you make an 83(b) election? - Review on IRC §83(b) election. - How do I get taxed on the dividends from restricted stock? -Internal Revenue Code section 409A: - Tax withholding methods starting with the highest risk due to a concentrated stock position. - Examples of tax withholding methods - Stock Swap - Estimated tax due with examples - What should I do after my restricted stock units and/or restricted stock vested? - If you sell the employer’s stock, you should understand your tax liability. - Avoid insider trading with a Rule 10b5-1 Trading Plan. - What you should know about restricted stock units and restricted stock plans. - Questions to ask your employer so you can truly understand your restricted stock units and restricted stock plans. - Choices you need to decide to optimize your restricted stock: - Tracking your restricted stock units and restricted stock is key. - Frequently asked questions on restricted stock units (RSUs) and restricted stock. - How can I maximize my restricted stock units and/or restricted stock? - What are the top 3 things to love about restricted stock units (RSUs) and restricted stock? - What are my restricted stock units and/or restricted stock cost basis, and what happens to the shares my company withholds for taxes? - What happens when I make an 83(b) election, pay the taxes, and the restricted stock did not vest? Do I recapture the tax paid or forfeit the money? - My restricted stock units and/or restricted stock vested, I sold shares of my employer’s stock at a loss, how am I taxed? - What happens to my restricted stock units and/or restricted stock when my company’s stock splits? - When should I sell my restricted stock units (RSUs) and/or restricted stock? - What are the disadvantages of restricted stock units and restricted stock? - What are the common mistakes with restricted stock units and restricted stock? - Problems with restricted stock units (RSUs) and restricted stock employees are confused about. - How are restricted stock units (RSUs) and restricted stock taxed? - Taxation summary. - Restricted stock summary. - Strategies to consider with restricted stock units and restricted stock. - Take advantage of the volatility in the stock price.

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Tax harvesting breaks down into two forms: tax-loss harvesting and tax-gain harvesting. The goals of tax-loss harvesting and tax-gain harvesting are to reduce your overall tax liability, avoid or reduce paying taxes on your investments gains, and increase your after-tax returns. TAX-LOSS HARVESTING - What is tax-loss harvesting? - How is tax-loss harvesting done in practice? - What is the tax benefit? - What are the benefits associated with tax-loss harvesting? - Capital losses benefit in the following order. - The disadvantages of tax-loss harvesting. - Other information we should know related to tax-loss harvesting. - Wash Sale Rules. - Tax-loss harvesting works on taxable accounts. - Common mistakes to watch out for when doing tax-loss harvesting. - Tax-loss harvesting best practice. - Capital gains and losses. - Strategy on what to do after you did tax-loss harvesting. - Summary of tax-loss harvesting. TAX-GAIN HARVESTING - What is tax-gain harvesting? - Understanding of capital gains - How do we do tax-gain harvesting in practice? - An example via TurboTax - The benefits of tax-gain harvesting - Tax-gain harvesting best practice - The disadvantages of tax-gain harvesting - Other information we should know related to tax-gain harvesting. TAX HARVESTING - Other information we should know related to tax harvesting. - Tax harvesting best practice. - Let’s review the materials by looking at 4 scenarios from worst to best. - Tax harvesting summary

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management You work so hard to save and accumulate wealth during your working years. Now you are in retirement; it’s time to use it. For today's educational video, I am going to share with you the most tax-efficient ways to withdraw money from your accounts in retirement. The industry calls it sequence-of-withdrawals. Of course, there are exceptions to the rules depending on your unique financial position. OVERVIEW: - The most tax-efficient sequence of withdrawal strategy explained - The goals of the sequence of withdrawals strategy - Terminology - The sequence of withdrawals strategy for retirees before age 72 -The sequence of withdrawals strategy for retirees after age 72 - Best practice - Preservation of accounts in the following orders - Tips

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management What employers need to know about CalSavers: - What is CalSavers? - Registration deadline - CalSavers Frequently Asked Questions - I am the owner and I have 4 employees, do I need to register for CalSavers? - How can employers register for CalSavers? - What do employers need to do? - What are the benefits to the employers? - Employers’ roles - What employers cannot do - What is the cost to the employers - What are the employers’ liability - Can the employers contribute to CalSavers? What employees need to know about CalSavers: - What are the options for employees? - What are CalSavers contribution limits? - What are CalSavers income limits? - What is CalSavers vesting schedule? - What are CalSavers accounts investment options? - How much does CalSavers cost? - Can the employer contribute to the employees’ accounts? - Can you name beneficiaries on the accounts? - Are the accounts portable? - What are CalSavers distribution rules? - What are CalSavers lawsuits? - Is CalSavers a scam? - If my mom is eligible for CalSavers, what would I advise her to do?

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan Fiduciary Standard = have a legal obligation to act in the clients’ best interest, require total trust, good faith, and honesty. Suitability Standard = suitable for their clients and not necessarily what is best for the client. TAN Wealth Management is governed by the Fiduciary Standard at all times.

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview: - What is an Employee Stock Purchase Plan? - ESPP discount - What is the compensation income? - What is a qualified disposition and why does it matter? - What is a non-qualified disposition and why does it matter? - ESPP holding period - Form 3922 and Form 1099-B - Net Investment Income Tax (NIIT) - ESPP common errors - Common questions - Strategies for ESPP - Take advantage of the volatility in the stock price Examples of companies that also offer ESPP are Facebook, Salesforce, Walmart, Apple, and Oracle.

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Recently, I have been contacted by many people about restricted stock units (RSUs) inquiring what they should do before the year-end. For example, if you work at companies like Apple, Intel Corporation, Google, Microsoft, Salesforce, Walmart, Airbnb, Uber, Lyft, etc, they tend to compensate their employees by offering them RSUs as a bonus. I created a comprehensive educational video on this very topic to help people better understand their RSUs and strategies to consider when dealing with RSUs. I hope you find this helpful and please reach out to me if you have any questions. Overview: - What is restricted stock units (RSUs) - During the restricted period/vesting period - Vesting schedule - Tax withholding methods starting with the highest risk due to a concentrated stock position - Questions to ask your employer so you can truly understand your RSUs - Form 8949 and Schedule D - Dividends - Section 83(b) election - Taxation summary From MyStockOptions - Taxation summary From Charles Schwab - Taxes - Strategies to consider - Take advantage of the volatility in the stock price

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview: - What are incentive stock options - Vesting schedule - What are granting, exercising, and selling ISOs - How are ISOs taxed - Alternative minimum tax - The big mistake - What you should know about ISOs - The risk with ISOs - Form 3921 - Next steps

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Today we are going over: - What is long-term care? - What is long-term care insurance? - How much does long-term care cost? - How much does long-term care insurance cost? - Long-term care insurance premiums and the tax benefits - How can we qualify for long-term care insurance? - What can we use long-term care insurance for? - Strategies on how investors can mitigate this risk - Types of insurance products that can pay for long-term care services - 2 big disadvantages of long-term care insurance products - 3 main reasons why investors buy long-term care insurance policies - Questions to ask ourselves to see if long-term care is right for us - Popular Optional Policy Features - 6 important steps in selecting a long-term care insurance policy - And finally, what are the next steps

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Overview: - Today, we will learn about annuities and their purposes - Ways to fund an annuity - Annuity payout options - Fixed, variable, equity-indexed, immediate, and deferred annuities characteristics - Why do investors buy annuities - The best way to purchase an annuity - When you should not buy annuities - Be cautious of annuities with... - Common questions on annuities - How are annuities taxed - Additional 10% tax on early distribution rules - Exceptions to the early distribution rules - August 14, 1982 - Non-natural person (like a corporation) owns an annuity - Questions to help you understand your annuity - How I use annuities with clients

Please visit my website for the full video transcript: https://tanphan.com/blog Connect with me on LinkedIn: https://www.linkedin.com/in/tanmphan TAN Wealth Management Summary: - A quick history of 529 plans - What are 529 plans and their advantages? - Estate planning with 529 plans - What is the best plan in California? - Red flags to look out for - Strategies to take advantage of future tax law changes

TAN Wealth Management T = tax diversification, to decrease taxes and increase spendable income. A = asset allocation, to successfully navigate the market and reduce portfolio volatility, idiosyncratic risk, and sequence of returns risk. N = number of years, to know when to use and invest in which assets.