Category: Taxes

The Biggest Mistake Families Make with Aging Parents
The Biggest Mistake Families Make with Aging Parents (Ep. 80)

The Biggest Mistake Families Make with Aging Parents (Ep. 80)

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In Episode 80 of Harnessing Your Wealth, Billy and Shaun Peterson sit down with John Diehl, Senior Vice President of Applied Insights at Hartford Funds, to discuss one of the most emotional and important conversations families will face—caring for aging parents.

Drawing from his work with the MIT AgeLab, John shares practical insight into recognizing early warning signs of aging, navigating difficult family conversations, and planning for future care before a crisis occurs. The discussion explores the emotional and financial realities of caregiving, the importance of preserving dignity and independence, and why avoiding these conversations can create lasting stress and conflict for families.

The episode also dives into topics such as long-term care costs, fraud targeting seniors, powers of attorney, family wealth transfer, and the importance of passing down not only assets—but values, wisdom, and legacy. Through personal stories and real-life client experiences, Billy, Shaun, and John highlight how financial planning has evolved far beyond investments into helping families prepare for life’s most difficult transitions.

Takeaways

  • Aging conversations are difficult, but avoiding them often creates greater emotional and financial stress later.
  • Families should begin discussing caregiving, health concerns, and future wishes before a crisis occurs.
  • Early warning signs of aging can appear gradually and may impact driving, finances, memory, and daily routines.
  • Preserving dignity and independence is one of the most important parts of caring for aging parents.
  • Financial planning today involves much more than investments—it includes family communication, caregiving preparation, and legacy planning.
  • Long-term care costs can significantly impact retirement and family finances if not planned for early.
  • Powers of attorney, healthcare directives, and estate planning documents are essential for every family.

About our Guest: 

John Diehl has been with The Hartford and Hartford Funds for more than 30 years. He’s a Certified Financial Planner (CFP®) and also holds Chartered Life Underwriter (CLU®) and Chartered Financial Consultant (ChFC®) designations. As Senior Vice President of Applied Insights, John leads Hartford Funds’ research efforts with the MIT AgeLab as well as other thought leaders. He oversees a team of industry experts who translate this research into actionable ideas for financial professionals and their clients across the U.S. John’s views on the future of retirement planning have been published in the Wall Street Journal, Financial Planning magazine, and other publications, and he’s been a featured guest on CNBC and Bloomberg Television. John also hosts the Hartford Funds’ newly reimagined Human-centric Investing Podcast.

Connect with John Diehl: 

Resources & Previous Episodes of Interest:

This presentation is for informational and educational purposes only and should not be construed as individualized investment advice or a recommendation of any particular security, strategy, or investment product. The views and opinions expressed by the guest speaker are solely their own and do not necessarily reflect those of Peterson Wealth. The guest speaker is not affiliated with Peterson Wealth,  and Peterson Wealth does not endorse or guarantee the accuracy of third-party information.  The guest is not paid compensation for their participation; however, he/she may receive a non-cash gift from the firm.  

Peterson Wealth is a registered investment advisor with the SEC. Registration does not imply a certain level of skill or training. Past performance is not indicative of future results. All investments involve risk, including the possible loss of principal.

Any examples or illustrations used in this presentation are hypothetical in nature and for demonstration purposes only. You should consult with your personal financial, tax, or legal advisor before making any investment decisions.

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Money Moves For The End of The Year
The Year-End Money Moves Everyone Ignores (Until It’s Too Late) (Ep. 69)

The Year-End Money Moves Everyone Ignores (Until It’s Too Late) (Ep. 69)

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Billy and Shaun dive deep into the smartest financial moves to make before the year wraps up—because what you do in these final weeks can seriously impact your taxes, savings, and long-term financial trajectory. In this episode, they break down practical year-end strategies you can actually use: tax planning that keeps more money in your pocket, holiday spending frameworks that prevent budget blowouts, insurance and estate reviews that protect what you’ve built, and goal-setting tactics that set you up for a stronger, more focused year ahead. If you’re ready to take control of your money, avoid avoidable mistakes, and end the year with clarity and confidence, this is the ultimate financial checklist you don’t want to miss.

Key Takeaways:

  • Max out 401(k) contributions while there’s still time.
  • Use tax-loss harvesting to offset capital gains.
  • Leverage charitable giving strategies for extra tax benefits.
  • Protect your holiday budget—spend with intention, not emotion.
  • Audit your top 5 expenses to uncover easy savings.
  • Review and update insurance policies to ensure proper coverage.

Resources & Previous Episodes of Interest:

Connect with Billy Peterson:

Connect with Shaun Peterson: 

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Integrated Tax Podcast
Don’t Miss These Money-Saving Tax Changes (Ep. 65)

Don’t Miss These Money-Saving Tax Changes (Ep. 65)

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In this conversation, tax expert Jake Johnstun discusses the latest tax legislation, focusing on new deductions available for businesses, the introduction of Trump accounts for children, and changes in clean energy incentives. The discussion also covers SALT deductions, standard and child tax credits, and the implications of officer compensation audits by the IRS. Additionally, Johnstun highlights estate tax exemptions and everyday tax strategies for individuals and businesses, while also addressing trends in client demographics and advanced tax strategies.

Takeaways:

  • The new tax laws provide significant deductions for businesses, especially in depreciation.
  • Trump accounts allow for tax-advantaged savings for children under 18.
  • Clean energy incentives are changing, with some benefits expiring soon.
  • SALT deductions have increased, but many will still be affected by limitations.
  • Standard deductions have been adjusted for inflation, benefiting taxpayers.
  • Child tax credits have seen slight increases, aiding families.
  • Small businesses can benefit from the QBI deduction, which is 20% of net income.
  • IRS audits are increasingly focusing on officer compensation and 1099 compliance.
  • Estate tax exemptions have increased significantly, allowing more wealth to be passed on tax-free.
  • Investing in qualified accounts like Roth IRAs can provide long-term tax benefits.

About our Guest: 

Jake Johnstun, EA has been in the tax preparation industry since 1994. An Enrolled Agent is a federally authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of examination, collection, and appeals of the Internal Revenue Service. In addition to taxpayer representation, Enrolled Agents often provide tax consultation services and prepare a wide range of federal and state tax returns.

Jake is the president and founder of Integrated Tax, founded in 2002 located in Ogden, Utah. He is a Partner and owner of Elite 1031 Exchange, a Qualified Intermediary. He is an Alumnus of Weber State University with a Bachelor of Science degree in Accounting. He is an NTPI Fellow and a graduate of the SSLA Leadership Academy.

Jake was voted onto the National Association of Enrolled Agent’s Board of Directors in December 2017. He is the current Chair of the NAEA PAC representing tax professionals before the United States Congress. He is also the current Chair of the GOAL Foundation.

Resources & Previous Episodes of Interest:

Connect with Jake Johnstun, EA, NTPI© Fellow:

Connect with Billy Peterson:

Connect with Shaun Peterson: 

Connect with Cade Peterson:

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