new tax deductions – Harnessing Your Wealth

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

By Harnessing-Your-Wealth | December 2, 2025

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:

Peterson Wealth Services: Shaun Peterson
LinkedIn: Shaun Peterson
shaun@petersonws.com
801-475-4002

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

By Harnessing-Your-Wealth | October 7, 2025

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: