The Truth About Taxable Income: Stop Making These Common Mistakes cover art

The Truth About Taxable Income: Stop Making These Common Mistakes

The Truth About Taxable Income: Stop Making These Common Mistakes

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 Are you ready to take the stress out of taxes and turn confusion into confidence? On this episode of Invested in Faith, co-host Bradford Hancock and Certified Financial Planner Michael Wallin dive deep into the often overwhelming world of taxes—and show you how smart, faith-informed financial planning can create certainty for your future. If you’ve ever wondered how Social Security is taxed, what progressive tax brackets really mean, or why some high net worth individuals seem to pay less in taxes than you’d expect, this is the episode for you!

Key topics we cover:
  • What makes up your taxable income—including pensions, IRAs, Social Security, and more
  • Understanding the 2025 tax brackets and how standard deductions lower your tax bill
  • The difference between being taxed on income vs. assets
  • How “tax tentacles” can impact your Social Security and Medicare premiums
  • The importance of tax planning and working with a “tax coach” for proactive strategies
  • Qualifications to look for in a tax professional, potential pitfalls, and how to choose the right advisor for your needs


Throughout this episode, you’ll get clear explanations about often-complicated topics like “means testing,” tax deferral, Roth IRA conversions, and the crucial role of aligning your investment and tax plans. Michael explains how having the right plan—and the right professionals behind you—can mean thousands of dollars in long-term savings and a retirement that’s as rewarding as you’ve dreamed.

Don’t miss:
  • Actionable tips on when and how to engage a tax coach (hint: don’t wait until tax season!)
  • A breakdown of the new $6,000 additional deduction for those over age 65
  • Insider advice on choosing a CPA, enrolled agent, or multi-disciplinary practice for comprehensive support


If you found value in today’s episode, please like, subscribe, and share Invested in Faith with friends and family on their financial journey. Have questions or need help finding a tax coach? Call the Invested in Faith team at 855-378-1806 to connect with their holistic team of tax coaches and financial planners.

Links & Resources
Invested in Faith: Official YouTube Channel
Call for a Tax Coach: 855-378-1806
Subscribe for More Faith-Based Financial Insights!
Comment below with your questions—we love hearing from you!

TIMESTAMPS:
00:00 Understanding 2025 Tax Brackets
06:24 Understanding Effective Tax Rates
09:58 Retirement Income and Tax Implications
13:35 "Tax Coach Essential for Investments"
16:18 Year-Round Financial Strategy Planning
19:00 Evaluating Client Capacity
21:02 Exciting Show Ahead

Optivise Advisory Services, LLC (“Optivise”) is an investment advisory firm registered with the Securities and Exchange Commission (“SEC”) under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply a certain level of skill or training. The oral and written communications of an adviser provide you with information about which you determine to hire or retain an adviser. For more information, visit: https://adviserinfo.sec.gov and search for our firm name. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Information obtained from third-party sources is believed to be reliable, though its accuracy is not guaranteed. Opinions expressed in this commentary reflect subjective judgments of the author based on conditions at the time of publication and are subject to change without notice. Past performance is not indicative of future results.
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