049: It’s Tax Time

by | Feb 3, 2019 | Podcast | 0 comments

Change It Up Radio Episode 049 Show Graphic

 

Today we’re talking about several new tax laws to ensure that you’re fully prepared for filing your taxes this year.

 

Yes, it’s that time of year again when everybody is thinking about taxes. Most of us are going through our receipts, getting numbers together, making appointments, and doing all that we need to do to get our tax returns taken care of by April 15th.

Unfortunately, this is one of those instances where if we tend to procrastinate, it really shows. Even though April seems a long way off, it will be here before we know it. So, how do we keep up with new tax laws, make sure that we file accordingly, and get the best return possible?

Financial advisor, Cheri Blair, joins me to share some great tips and insight to help educate us on all that we need to know about big changes in the tax laws for 2018 so that we’re fully prepared to properly file our taxes this year.

 

We Discuss:

  • Saying the Right Thing When You Don’t Know What to Say
  • Learning how to embrace change and the loss that inevitably comes with it
  • Having the right mindset in order to have successful, supportive conversations
  • What we can do right now to start preparing for this tax filing season
  • A new tax law that has eliminated many beneficial deductions and tax credits
  • How the standard deduction has changed and why itemizing may not make sense
  • Why the elimination of personal exemptions could mean a significant loss for families
  • A new cap on SALT (State and Local Tax) Deduction and how this impacts the middle class
  • 12 now-extinct tax deductions that have disappeared this year under the new tax code

 

“Many of us know that there was a new tax law that went into effect, which eliminated a lot of beneficial tax deductions and credits. This law is a mixed bag for many people and households alike.”  –  Cheri Blair

 

About Cheri:
Image of Cheri Blair

Cheri Blair has been serving entrepreneurs and business owners in the financial service industry for over two decades, especially focusing on empowering women.

Being the only girl of six siblings, from a young age, she found that she had to outperform her brothers to be seen as an equal in the eyes of her family. After all, “she was just a girl.”

As a sensitive and kind-spirited girl, she had to continually fight to overcome the gender inequality pervasive throughout the Midwest in her generation.

Cheri grew to appreciate the importance of financial education and independence after observing her mother lacking the understanding of fundamental financial decisions.

Cheri came to California as a young woman eager to establish herself. She studied psychology at Chapman University before working in real estate overseeing client’s portfolios. Through hard work and dedication, she was promoted to Asset Manager, where she continued to grow her expertise in business.

Cheri moved from Newport Beach to San Diego with her baby, Tovia, after separating from her husband. With her experience, she joined Metlife Financial Services as a Financial Advisor.  She received training from leaders in the industry before discovering her passion for serving women.

It was then that Cheri presented informative seminars to educate, and advance her clients’ financial literacy. She encouraged women to develop their financial confidence and build that muscle so they could flex it whenever needed. As a single mother, she never lost sight of her financial independence and strived to promote this with other women!

Along the way, Cheri has earned recognition as a leader in the field, winning multiple awards for her services.  She maintains a “client-centric” practice, understanding their needs come first. 

It’s important to Cheri to develop relationships with her clients that are steeped in trust. She makes sure they always know their options and actively participate in the planning process.  She believes that there are “no stupid questions” and has dedicated her life to teaching financial literacy to all!

Cheri always likes to say…” You must value your future comfort as much as you value your comfort today!”

 

“Getting the best return isn’t necessarily about how skilled you are, it’s about what you know. So many taxpayers miss out on getting the best deductions because they’re just not aware.”  –  Cheri Blair

 

Resources Mentioned:

 

Saying the Right Thing When You Don't Know What to say by Paula Shaw

 

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Check out the video below to watch our interview in studio:

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