The Personal Finance Guide for Tech Professionals: Building, Protecting, and Transferring Your Wealth

ISBN-13: 9781484282410 / Angielski / Miękka / 2022 / 239 str.

Tom Taulli

Spis treści

Part 1:  Building your wealth

Chapter 1:  Investments

o This will look at the basic investments like stocks, bonds, mutual funds and ETFs (exchange-traded funds)

Chapter 2:  Investment Strategies

o This will review some of the common approaches for managing a portfolio, such as with diversification, dollar cost averaging and looking towards the long-term. 

Chapter 3:  Real Estate

o Show how this can be a generator of income and also provide for lucrative tax advantages.  

Chapter 4:  Alternative Investments

o This chapter will look at sophisticated funds, usually for high networth individuals.  These investments include hedge funds, venture funds and private equity funds.  There will also be a look at online offerings, such as for crowdfunding.  

Chapter 5:  Equity Compensation

o Look at the main types like incentive stock options, nonqualified stock options, restricted stock.  There will also be coverage of the tax implications (like with the dreaded Alternative Minimum Tax).

Chapter 6:  Liquidity

o This will look at strategies with cashing out equity holdings.  This will include using private secondary markets and getting loans against concentrated stock positions.

Chapter 7:  Retirement

o This will look at vehicles like IRAs and 401(k)s.  There will also be a review of the “mega backdoor” Roth IRA, which has become popular with tech people (this was the result of the huge amounts Peter Thiel shielded from taxes).

Part 2:  Protecting your wealth

Chapter 8:  Life Insurance

o This will cover the different types (term, whole life, etc) and how this can be a source of investment income.

Chapter 9:  Health Insurance

o There will be some coverage of employer plans.  Although, the main focus will be on the Affordable Care Act, which applies to those who are contractors.  There will also be a look at other healthcare investment vehicles like Flexible Spending Accounts (FSAs) and Health Savings Accounts (HSAs).

Chapter 10:  Disability Insurance

o This is often overlooked.  But if there is not sufficient coverage, the impact can be devastating.  

Chapter 11:  Asset Protection

o This is setting up entities to protect assets from litigation.  This often involves setting up LLCs and corporations.

Part 3:  Transferring your wealth

Chapter 12:  Estate Planning

o Look at wills, trusts and gifts.  There will be a review of some of the basic strategies.

Chapter 13:  Disability and Death

o When someone has equity compensation, the financial and tax implications for death and disability can be complicated.

Chapter 14:  Charitable giving and philanthropy

o This will look at how to gift stock.  There will also be a review of some of vehicles like the charitable remainder trusts (CRTs).

O autorze

Tom Taulli, a published author and a software developer, is also an Enrolled Agent, the highest certification with the IRS that allows him to represent taxpayers before the agency.  He is also the owner and co-founder of Pathway Tax, which he started over 20 years ago.  The focus is on helping clients with tax preparation, planning and resolution.  

Tom has also written columns for online publications such as BusinessWeek.com, TechWeb.com, and Bloomberg.com. You can reach Tom on Twitter (@ttaulli) or through his website (Taulli.com).

Blurb

Gain a a basic foundation of essential personal finance issues and strategies, specifically geared towards tech professionals. The book will build on the concepts, such as going from the basics of investments to more advanced topics like alternative investments and tax strategies.

In the U.S., about 6 million tech startup employees have stock options.  The result is that this can often be the biggest source of wealth, sometimes reaching into the millions.  Yet there are many financial and tax complications that have been aggravated with the transition to remote work. This can mean lower returns and missed opportunities, and in some cases, employees may even be subject to actions from the IRS and local tax agencies.  

The Personal Finance Guide For Tech Professionals is packed with actionable advice and covers the main areas that any tech professional will face.

You will:

• Track and analyze investments with fintech apps
• Improve the results of freelance work, such as with strategies to lower taxes
• Protect your hard-earned assets with insurance and the establishment of entities like LLCs