How to save on one of your largest bills ever- TAXES with James Jurica

James Jurica James has worked in the financial services industry his entire professional career starting right out of college. He has a passion for working with clients and helping them achieve their long-term financial goals. His main area of focus is on the investment management side of financial planning.

James has a focus on risk management and wants to ensure that during the investment process, the focus stays on reducing risk and volatility in clients’ portfolios while still achieving the returns needed to accomplish the objective of the client.

James has achieved the Certified Financial Planner CFP®, less than 10% of all financial advisors are CFP®, and this advanced training and education allow James to provide the highest quality service and value to clients. He has also achieved the Chartered Financial Consultant CHFC®, Chartered Life Underwriter CLU®, and Retirement Income Certified Professional RICP®. These designations have given James more training and insight on a wide variety of financial planning areas.

Episode Here:

James:

I think the big thing about the tax code is that 99% of it tells you how not to pay taxes.

Pierce:

We were talking before the show about opportunity zones. So teach me what the play is right now with these op zones.

James:

So opportunity zones came about fairly recently. And it was brought about because, in every major city, you will have parts of that city that are rundown. And so Bice, a bipartisan bill came out that had support on both sides, which makes it a really strong bill. And it got a lot of backing to offer tax incentives for individuals to come in and develop and revitalize different parts of major cities, cities, and areas that need help rebuilding. Still, the government doesn’t want to come in and be the ones to do the construction or do all that work. They effectively just offer tax incentives so that other individuals will do that. And so I think the big thing, when you look at the tax code, is 99% of it tells you how not to pay taxes. Yeah, love it tells you how to pay taxes. There’s this big chunk that tells you how not to, and so when you understand that tax code and that system, it’s there, and it provides incentives. And so the government incentivizes, you know, real estate, energy, other things like that. And so, when you follow those, you get rewarded.

Pierce:

Absolutely. I had that conversation with another guest. We were talking about that whole idea of, you know, there’s like two pages in the whole code that tells you, like, what you got to pay for taxes. And then there’s, like, billion other pages that tell you how not to do it, right? Because, yeah, exactly. Want to pay taxes? So they just write the bills and create loopholes. So if you play like them with their rules, that’s how you get out of it. So basically, just for the listeners’ rights, an opportunity zone is a distressed area that needs revitalization where the government just incentivizes you to go ahead and invest money. They give you that form of income that has come in tax incentives.

James:

That’s correct. And they are zoned out—every in most major cities. There are very specific areas that you can do that work in.

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About James Jurica

James Jurica James has worked in the financial services industry his entire professional

career starting right out of college. He has a passion for working with clients and helping them achieve their long-term financial goals. His main area of focus is on the investment management side of financial planning.

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