ABOUT HOSTS

Joe Anderson
ABOUT Joseph

As President of Pure Financial Advisors, Joe Anderson has led the company to achieve over $2 billion in assets under management and has grown their client base to over 2,160 in just ten years of the firm opening. When Joe began working with Pure Financial in 2008, they had almost no clients, negative revenue and no [...]

Alan Clopine
ABOUT Alan

Alan Clopine is the CEO & CFO of Pure Financial Advisors. He currently leads Pure Financial Advisors along with Michael Fenison and Joe Anderson. Alan joined the firm about one year after it was established. At that time the company had less than 100 clients and approximately $50 million of assets under management. As of [...]

Published On
August 13, 2016

Hosts answer frequently asked financial questions sent from Investopedia. Topics cover divorce, tax deductions, business profits, Roth IRAs, IRA rollovers and more.

Questions:

2:32 “I am paying off a loan for CDL (commercial driver’s license) school, and wondering if it is tax deductible. Does it matter if I no longer work in the trucking industry? I’m fairly inexperienced in the area of tax deductions. I understand the interest on loans is the only part that is deductible, right?”

4:11 “After a divorce, can assets be distributed to into an account that is not in my ex-spouses name?”

6:54 “Can a company have an extremely high gross margin and negative operating margin at the same time?”

7:58 “Will I have to pay capital gains tax on the sale of two different homes?”

11:20 “Can I draw $30,000 out of my ROTH IRA and put it back within a short amount of time?

12:22 “I am a high income worker (over $250K / year). I would like to do a Roth IRA for my wife using the back door method. What would be the benefits of a Roth IRA going forward?

16:24 “My late wife and I bought a house 20 years ago for $450,000. My wife passed away 4 years ago to cancer, so for the last 3 years I have been filing my taxes as a widow. I’m planning to sell the house for $900,000 now. How much capital gain tax am I supposed to pay? And how much tax exemption can I get?”

20:42 “Is a 401(k) QDRO distribution taxed twice?”

28:48 “You can wait as late as age 70 to collect Social Security, and for many of you that’s probably a really good idea because you’ll get a lot more benefit doing that.”

29:47 “A lot of you are behind in your planning, but a lot of you have done a great job. Here’s a way to do a little self-check; there are really five things that you need to consider when it comes to financial planning.”

34:34 “Part of being successful [in retirement] is saving on taxes because what we see is that a lot of people have the majority of their assets in retirement accounts and when you pull those dollars out, you need to pay ordinary income taxes. Here’s the key: people have a lot more control over how much they pay in taxes than they might think.”