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Transcript

Deductions vs. Credits: What They Really Mean (Made Simple) · Becoming Financially Confident

• 0:37
  Deductions,
• 0:38
  credits.
• 0:39
  They
• 0:39
  sound
• 0:39
  important
• 0:40
  and
• 0:40
  they
• 0:40
  sound
• 0:41
  confusing,
• 0:41
  don't
• 0:42
  they?
• 0:42
  Two
• 0:43
  tax
• 0:43
  words
• 0:43
  that
• 0:43
  make
• 0:43
  a
• 0:44
  lot
• 0:44
  of
• 0:44
  people
• 0:44
  just
• 0:45
  freeze
• 0:45
  in
• 0:45
  their
• 0:45
  tracks.
• 0:46
  You
• 0:46
  nod,
• 0:46
  you
• 0:47
  skim,
• 0:47
  and
• 0:47
  you
• 0:48
  hope
• 0:48
  the
• 0:48
  software
• 0:49
  handles
• 0:49
  it.
• 0:50
  But
• 0:50
  deep
• 0:50
  down
• 0:50
  you
• 0:51
  wonder,
• 0:51
  am
• 0:52
  I
• 0:52
  missing
• 0:52
  something
• 0:53
  here,
• 0:53
  friend?
• 0:54
  Today
• 0:54
  isn't
• 0:54
  about
• 0:54
  mastering
• 0:55
  taxel.
• 0:56
  I'm
• 0:56
  not
• 0:56
  asking
• 0:56
  you
• 0:56
  to
• 0:56
  do
• 0:57
  that.
• 0:57
  It's
• 0:57
  about
• 0:57
  understanding
• 0:58
  enough
• 0:58
  to
• 0:59
  feel
• 0:59
  confident.
• 1:00
  And
• 1:00
  by
• 1:00
  the
• 1:01
  end
• 1:01
  of
• 1:01
  this
• 1:01
  episode,
• 1:01
  these
• 1:02
  two
• 1:02
  words
• 1:02
  won't
• 1:02
  feel
• 1:02
  intimidating
• 1:03
  anymore.
• 1:04
  Let's
• 1:04
  turn
• 1:05
  confusion
• 1:05
  into
• 1:05
  confidence.
• 1:06
  So
• 1:07
  here's
• 1:07
  the
• 1:07
  question
• 1:07
  we're
• 1:08
  answering
• 1:08
  today.
• 1:09
  What's
• 1:09
  the
• 1:09
  difference
• 1:09
  between
• 1:10
  deductions
• 1:10
  and
• 1:11
  credits?
• 1:11
  But
• 1:11
  bigger
• 1:12
  than
• 1:12
  that,
• 1:12
  why
• 1:12
  does
• 1:12
  it
• 1:13
  matter?
• 1:13
  Here's
• 1:14
  my
• 1:14
  promise
• 1:14
  to
• 1:14
  you.
• 1:15
  By
• 1:15
  the
• 1:15
  end
• 1:15
  of
• 1:15
  this
• 1:15
  episode,
• 1:16
  you're
• 1:16
  going
• 1:16
  to
• 1:16
  understand
• 1:17
  what
• 1:17
  deductions
• 1:18
  actually
• 1:18
  do,
• 1:19
  what
• 1:19
  credits
• 1:20
  are
• 1:20
  often
• 1:20
  more
• 1:21
  powerful,
• 1:21
  and
• 1:22
  how
• 1:22
  little
• 1:22
  understanding
• 1:23
  can
• 1:23
  save
• 1:24
  you
• 1:24
  real
• 1:24
  money.
• 1:24
  You
• 1:24
  want
• 1:25
  to
• 1:25
  save
• 1:25
  real
• 1:25
  money
• 1:25
  without
• 1:26
  jargon
• 1:26
  and
• 1:26
  overwhelm,
• 1:27
  just
• 1:27
  clarity.
• 1:28
  That's
• 1:28
  what
• 1:28
  we're
• 1:28
  going
• 1:28
  to
• 1:29
  talk
• 1:29
  about
• 1:29
  on
• 1:29
  today's
• 1:29
  show.
• 1:51
  Hey,
• 1:51
  friend.
• 1:51
  Ralph
• 1:52
  Estep
• 1:52
  Jr.
• 1:53
  Here.
• 1:53
  Welcome
• 1:53
  back
• 1:53
  to
• 1:53
  Financially
• 1:54
  Confident
• 1:54
  Christian
• 1:55
  or.
• 1:55
  We
• 1:56
  learn
• 1:56
  how
• 1:56
  to
• 1:56
  walk
• 1:56
  through
• 1:56
  life
• 1:57
  and
• 1:57
  money
• 1:57
  with
• 1:57
  wisdom,
• 1:58
  with
• 1:58
  peace,
• 1:59
  and
• 1:59
  with
• 2:00
  a
• 2:00
  heart
• 2:00
  anchored
• 2:00
  in
• 2:00
  God's
• 2:01
  truth.
• 2:01
  My
• 2:02
  mission
• 2:02
  on
• 2:02
  the
• 2:02
  show
• 2:02
  is
• 2:03
  to
• 2:03
  help
• 2:03
  you
• 2:03
  break
• 2:03
  the
• 2:03
  cycle
• 2:04
  of
• 2:04
  financial
• 2:04
  shame
• 2:05
  and
• 2:05
  build
• 2:06
  those
• 2:06
  steady
• 2:06
  habits
• 2:07
  rooted
• 2:07
  in
• 2:07
  faith
• 2:08
  and
• 2:08
  truly
• 2:09
  become
• 2:09
  financially
• 2:10
  confident
• 2:10
  Christians.
• 2:11
  And
• 2:11
  I
• 2:12
  am
• 2:12
  really
• 2:12
  glad
• 2:12
  you're
• 2:13
  here
• 2:13
  today.
• 2:15
  Yesterday
• 2:15
  we
• 2:16
  talked
• 2:16
  about
• 2:16
  the
• 2:16
  top
• 2:17
  five
• 2:17
  tax
• 2:17
  mistakes.
• 2:18
  We
• 2:18
  talked
• 2:18
  about
• 2:18
  missing
• 2:19
  forms,
• 2:19
  rushing
• 2:20
  and
• 2:20
  overlooking
• 2:21
  savings.
• 2:22
  Today
• 2:22
  we're
• 2:22
  going
• 2:22
  to
• 2:22
  do
• 2:22
  one
• 2:23
  big
• 2:23
  reason
• 2:24
  people
• 2:24
  miss
• 2:24
  those
• 2:25
  savings.
• 2:25
  It's
• 2:25
  because
• 2:26
  they
• 2:26
  don't
• 2:26
  understand
• 2:27
  deductions
• 2:28
  versus
• 2:28
  credits.
• 2:29
  Now
• 2:29
  listen,
• 2:29
  today
• 2:29
  I'm
• 2:30
  going
• 2:30
  to
• 2:30
  tell
• 2:30
  you
• 2:30
  it's
• 2:30
  not
• 2:30
  going
• 2:30
  to
• 2:30
  be
• 2:31
  some
• 2:31
  technical
• 2:31
  lecture,
• 2:32
  just
• 2:33
  enough
• 2:33
  clarity
• 2:33
  to
• 2:34
  feel
• 2:34
  confident.
• 2:34
  I
• 2:34
  want
• 2:34
  you
• 2:34
  to
• 2:35
  feel
• 2:35
  confident.
• 2:36
  So
• 2:36
  today
• 2:36
  we
• 2:37
  simplify.
• 2:38
  Here's
• 2:38
  a
• 2:38
  question
• 2:38
  I
• 2:39
  hear
• 2:39
  all
• 2:39
  the
• 2:40
  time,
• 2:40
  Ralph.
• 2:41
  What's
• 2:41
  the
• 2:41
  difference
• 2:42
  between
• 2:42
  a
• 2:42
  deduction
• 2:43
  and
• 2:43
  a
• 2:44
  credit?
• 2:44
  Or
• 2:45
  a
• 2:45
  lot
• 2:45
  of
• 2:45
  people
• 2:45
  say
• 2:45
  to
• 2:46
  me,
• 2:46
  ralph,
• 2:46
  what's
• 2:47
  better,
• 2:47
  credits
• 2:48
  or
• 2:48
  deductions?
• 2:49
  And
• 2:50
  those
• 2:50
  are
• 2:50
  smart
• 2:50
  questions
• 2:51
  because
• 2:51
  these
• 2:52
  two
• 2:52
  things
• 2:52
  affect
• 2:52
  how
• 2:53
  much
• 2:53
  tax
• 2:53
  you
• 2:54
  actually
• 2:54
  pay.
• 2:54
  These
• 2:54
  are
• 2:55
  like
• 2:55
  the
• 2:55
  big
• 2:56
  number
• 2:56
  things.
• 2:57
  And
• 2:57
  if
• 2:58
  tax
• 2:58
  terms
• 2:58
  make
• 2:58
  you
• 2:59
  feel
• 2:59
  lost,
• 3:00
  you
• 3:00
  just
• 3:00
  never
• 3:00
  been
• 3:00
  taught
• 3:01
  this
• 3:01
  simply.
• 3:01
  And
• 3:01
  that's
• 3:02
  exactly
• 3:02
  what
• 3:02
  I'm
• 3:02
  going
• 3:02
  to
• 3:02
  do
• 3:03
  today.
• 3:03
  Because
• 3:03
  explanations
• 3:04
  that
• 3:04
  feel
• 3:05
  too
• 3:05
  technical,
• 3:05
  you're
• 3:06
  going
• 3:06
  to
• 3:06
  zone
• 3:06
  them
• 3:06
  out.
• 3:07
  Or
• 3:07
  maybe
• 3:07
  you've
• 3:07
  relied
• 3:08
  on
• 3:08
  software
• 3:08
  without
• 3:09
  really
• 3:09
  understanding
• 3:10
  what
• 3:10
  it's
• 3:10
  doing.
• 3:10
  And
• 3:11
  that
• 3:11
  doesn't
• 3:11
  make
• 3:11
  you
• 3:11
  bad
• 3:12
  with
• 3:12
  money.
• 3:12
  It
• 3:13
  means
• 3:13
  you
• 3:13
  need
• 3:13
  a
• 3:13
  simple
• 3:14
  framework.
• 3:15
  And
• 3:15
  today
• 3:15
  is
• 3:16
  that
• 3:16
  simple
• 3:17
  framework.
• 3:18
  Here's
• 3:19
  something
• 3:19
  Free.
• 3:20
  You
• 3:20
  don't
• 3:20
  need
• 3:21
  to
• 3:21
  understand
• 3:22
  everything
• 3:22
  about
• 3:22
  taxes.
• 3:23
  You
• 3:24
  just
• 3:24
  have
• 3:24
  to
• 3:24
  have
• 3:24
  a
• 3:24
  basic
• 3:25
  understanding
• 3:26
  of
• 3:26
  how
• 3:26
  the
• 3:26
  big
• 3:27
  pieces
• 3:27
  work
• 3:27
  and
• 3:28
  how
• 3:28
  they
• 3:28
  fit
• 3:28
  together.
• 3:29
  Deductions
• 3:29
  and
• 3:29
  credits
• 3:30
  are
• 3:30
  the
• 3:30
  two
• 3:30
  biggest
• 3:31
  pieces.
• 3:31
  Do
• 3:31
  you
• 3:32
  want
• 3:32
  me
• 3:32
  to
• 3:32
  narrow
• 3:32
  down
• 3:32
  taxes?
• 3:33
  These
• 3:33
  are
• 3:33
  the
• 3:34
  big
• 3:34
  ones.
• 3:35
  And
• 3:35
  once
• 3:35
  you
• 3:35
  understand
• 3:36
  them,
• 3:37
  a
• 3:37
  lot
• 3:37
  of
• 3:37
  it
• 3:37
  starts
• 3:38
  to
• 3:38
  make
• 3:38
  sense
• 3:38
  and
• 3:38
  just
• 3:39
  comes
• 3:39
  together.
• 3:39
  So
• 3:40
  let's
• 3:40
  define
• 3:40
  them
• 3:41
  right
• 3:41
  now
• 3:41
  in
• 3:41
  plain
• 3:42
  English.
• 3:43
  I've
• 3:44
  walked
• 3:44
  thousands
• 3:45
  of
• 3:45
  people
• 3:45
  through
• 3:46
  tax
• 3:46
  returns
• 3:47
  and
• 3:47
  here's
• 3:47
  the
• 3:48
  thing.
• 3:48
  People
• 3:48
  miss
• 3:49
  savings
• 3:49
  not
• 3:49
  because
• 3:50
  they
• 3:50
  don't
• 3:50
  qualify.
• 3:52
  They
• 3:52
  miss
• 3:52
  savings
• 3:53
  because
• 3:53
  they
• 3:53
  don't
• 3:53
  know
• 3:54
  what
• 3:54
  applies
• 3:54
  to
• 3:54
  them.
• 3:55
  And
• 3:56
  see,
• 3:56
  when
• 3:56
  you
• 3:56
  understand
• 3:57
  it,
• 3:57
  it
• 3:57
  helps
• 3:58
  you
• 3:58
  ask
• 3:58
  better
• 3:59
  questions.
• 3:59
  And
• 4:00
  that
• 4:00
  knowledge
• 4:01
  really
• 4:01
  does
• 4:02
  save
• 4:02
  money.
• 4:03
  Let
• 4:03
  me
• 4:03
  give
• 4:03
  you
• 4:03
  a
• 4:04
  quick
• 4:04
  picture.
• 4:05
  Person
• 4:05
  thought
• 4:06
  deductions
• 4:06
  and
• 4:06
  credits
• 4:07
  were
• 4:07
  the
• 4:07
  same.
• 4:08
  They
• 4:08
  weren't
• 4:08
  doing
• 4:08
  anything
• 4:09
  wrong.
• 4:09
  They
• 4:09
  just
• 4:10
  didn't
• 4:10
  understand
• 4:10
  the
• 4:10
  difference.
• 4:11
  And
• 4:11
  once
• 4:12
  they
• 4:12
  did,
• 4:12
  they
• 4:12
  asked
• 4:13
  better
• 4:13
  questions.
• 4:14
  And
• 4:14
  better
• 4:15
  questions
• 4:15
  led
• 4:16
  to
• 4:16
  better
• 4:16
  outcomes.
• 4:17
  Better
• 4:17
  questions
• 4:17
  led
• 4:17
  to
• 4:18
  more
• 4:18
  money
• 4:18
  coming
• 4:18
  back.
• 4:19
  So
• 4:19
  here's
• 4:20
  today's
• 4:20
  central
• 4:20
  question.
• 4:21
  Do
• 4:21
  you
• 4:22
  understand
• 4:22
  your
• 4:22
  taxes
• 4:23
  well
• 4:23
  enough
• 4:23
  to
• 4:23
  recognize
• 4:24
  opportunities?
• 4:25
  Or
• 4:25
  you
• 4:26
  just
• 4:26
  hoping
• 4:26
  nothing
• 4:27
  goes
• 4:27
  wrong?
• 4:27
  You're
• 4:27
  just
• 4:27
  hoping,
• 4:28
  hey,
• 4:28
  pull
• 4:28
  the
• 4:28
  trigger
• 4:29
  and
• 4:29
  the
• 4:29
  software
• 4:30
  does
• 4:30
  it.
• 4:31
  But
• 4:31
  friend,
• 4:32
  that
• 4:32
  understanding
• 4:33
  brings
• 4:33
  confidence.
• 4:34
  So
• 4:35
  let's
• 4:35
  make
• 4:35
  this
• 4:35
  simple.
• 4:36
  Not
• 4:36
  complicated
• 4:37
  language,
• 4:37
  no
• 4:37
  formulas,
• 4:38
  just
• 4:38
  a
• 4:38
  clear,
• 4:39
  in
• 4:39
  English
• 4:39
  understanding.
• 4:41
  Let's
• 4:41
  start
• 4:41
  with
• 4:42
  the
• 4:42
  beginning.
• 4:42
  What
• 4:43
  is
• 4:43
  a
• 4:43
  deduction?
• 4:44
  Here's
• 4:44
  what
• 4:44
  deduction
• 4:45
  is
• 4:45
  real
• 4:45
  simple.
• 4:46
  A
• 4:46
  deduction
• 4:47
  reduces
• 4:47
  your
• 4:48
  taxable
• 4:48
  income.
• 4:49
  That's
• 4:49
  what
• 4:49
  it
• 4:49
  does.
• 4:50
  It
• 4:50
  lowers
• 4:50
  the
• 4:51
  amount
• 4:51
  of
• 4:51
  income
• 4:51
  the
• 4:52
  government
• 4:52
  looks
• 4:52
  at.
• 4:53
  It
• 4:53
  affects
• 4:54
  the
• 4:54
  calculation
• 4:54
  before
• 4:55
  taxes
• 4:55
  computed.
• 4:56
  Here's
• 4:56
  a
• 4:56
  great
• 4:56
  example.
• 4:57
  A
• 4:57
  deduction
• 4:58
  are
• 4:58
  things
• 4:58
  like
• 4:58
  charitable
• 4:59
  contributions
• 5:00
  or
• 5:00
  certain
• 5:00
  business
• 5:01
  expenses.
• 5:02
  Your
• 5:02
  mortgage
• 5:03
  interest,
• 5:03
  that
• 5:03
  student
• 5:04
  loan
• 5:04
  interest.
• 5:04
  Here's
• 5:05
  the
• 5:05
  thing.
• 5:05
  Deductions
• 5:06
  don't
• 5:06
  lower
• 5:07
  your
• 5:07
  tax
• 5:07
  bill
• 5:07
  dollar
• 5:08
  for
• 5:08
  dollar,
• 5:08
  they
• 5:09
  lower
• 5:09
  your
• 5:09
  income.
• 5:10
  They
• 5:10
  lower
• 5:10
  the
• 5:11
  income
• 5:11
  that
• 5:12
  your
• 5:12
  tax
• 5:12
  is
• 5:13
  based
• 5:13
  on.
• 5:14
  So
• 5:14
  the
• 5:14
  value
• 5:15
  of
• 5:15
  a
• 5:15
  deduction
• 5:17
  is
• 5:17
  based
• 5:17
  on
• 5:17
  your
• 5:18
  tax
• 5:18
  bracket.
• 5:19
  The
• 5:19
  higher
• 5:19
  your
• 5:19
  tax
• 5:20
  bracket,
• 5:20
  the
• 5:20
  bigger
• 5:21
  the
• 5:21
  value
• 5:21
  of
• 5:21
  deductions.
• 5:22
  They
• 5:22
  help
• 5:22
  you,
• 5:23
  but
• 5:23
  their
• 5:23
  value
• 5:23
  depends
• 5:24
  on
• 5:24
  your
• 5:24
  tax
• 5:24
  bracket.
• 5:25
  Let's
• 5:25
  get
• 5:25
  into
• 5:25
  what
• 5:26
  is
• 5:26
  a
• 5:26
  credit.
• 5:27
  Credit
• 5:27
  is
• 5:27
  like
• 5:27
  the
• 5:28
  gold.
• 5:28
  A
• 5:28
  credit
• 5:29
  reduces
• 5:29
  your
• 5:30
  taxes
• 5:30
  owed
• 5:30
  directly,
• 5:31
  dollar
• 5:31
  for
• 5:31
  dollar.
• 5:32
  Here's
• 5:32
  a
• 5:33
  simple
• 5:33
  example.
• 5:33
  Let's
• 5:34
  say
• 5:34
  you
• 5:34
  owe
• 5:34
  $3,000
• 5:35
  once
• 5:35
  you
• 5:35
  get
• 5:36
  to
• 5:36
  the
• 5:36
  bottom
• 5:36
  line.
• 5:37
  And
• 5:37
  then
• 5:37
  you
• 5:37
  have
• 5:37
  $1,000
• 5:38
  credit.
• 5:38
  Well,
• 5:38
  guess
• 5:39
  what?
• 5:39
  Now
• 5:39
  you
• 5:40
  only
• 5:40
  owe
• 5:40
  2,000
• 5:40
  bucks.
• 5:41
  That's
• 5:41
  why
• 5:42
  credits
• 5:42
  are
• 5:42
  so
• 5:42
  powerful.
• 5:43
  Credits
• 5:44
  are
• 5:44
  dollar
• 5:44
  for
• 5:45
  dollar
• 5:45
  savings.
• 5:46
  See,
• 5:46
  deductions
• 5:47
  help
• 5:47
  on
• 5:47
  the
• 5:47
  front
• 5:48
  end,
• 5:48
  credits
• 5:49
  help
• 5:49
  on
• 5:49
  the
• 5:49
  back
• 5:49
  end.
• 5:50
  And
• 5:50
  credits
• 5:51
  don't
• 5:51
  care
• 5:51
  what
• 5:51
  tax
• 5:51
  bracket
• 5:52
  you're
• 5:52
  in.
• 5:52
  They
• 5:53
  reduce
• 5:53
  the
• 5:53
  bill
• 5:53
  directly.
• 5:54
  Here's
• 5:55
  some
• 5:55
  great
• 5:55
  examples
• 5:55
  of
• 5:55
  those.
• 5:56
  Child
• 5:56
  tax
• 5:56
  credit,
• 5:57
  dollar
• 5:57
  for
• 5:58
  dollar
• 5:58
  credit
• 5:59
  education
• 5:59
  credits,
• 6:00
  dollar
• 6:01
  for
• 6:01
  dollar
• 6:01
  credit
• 6:02
  energy
• 6:02
  related
• 6:02
  credits,
• 6:03
  dollar
• 6:04
  for
• 6:04
  dollar.
• 6:04
  And
• 6:04
  that's
• 6:05
  why
• 6:05
  credits
• 6:05
  are
• 6:06
  far
• 6:06
  more
• 6:06
  powerful.
• 6:08
  And
• 6:08
  this
• 6:08
  isn't
• 6:08
  either
• 6:09
  or.
• 6:09
  Most
• 6:09
  returns
• 6:10
  use
• 6:10
  both
• 6:10
  deductions,
• 6:11
  reduce
• 6:11
  the
• 6:12
  size
• 6:12
  of
• 6:12
  the
• 6:12
  calculations,
• 6:13
  credits
• 6:14
  reduce
• 6:14
  the
• 6:14
  final
• 6:15
  number.
• 6:15
  And
• 6:16
  both
• 6:16
  helps
• 6:16
  you.
• 6:16
  It
• 6:17
  helps
• 6:17
  you
• 6:17
  ask
• 6:17
  better
• 6:18
  questions,
• 6:18
  it
• 6:19
  helps
• 6:19
  you
• 6:19
  notice
• 6:19
  what's
• 6:20
  missing
• 6:20
  and
• 6:20
  it
• 6:21
  helps
• 6:21
  you
• 6:21
  avoid
• 6:21
  missed
• 6:22
  opportunities.
• 6:23
  And
• 6:23
  that
• 6:23
  understanding
• 6:24
  is
• 6:25
  so
• 6:25
  important.
• 6:26
  And
• 6:26
  understanding
• 6:27
  doesn't
• 6:27
  replace
• 6:27
  help.
• 6:28
  It
• 6:28
  empowers
• 6:28
  you
• 6:28
  to
• 6:29
  use
• 6:29
  help
• 6:29
  wisely.
• 6:31
  When
• 6:31
  you
• 6:31
  understand
• 6:31
  these
• 6:32
  things,
• 6:32
  you're
• 6:32
  less
• 6:33
  likely
• 6:33
  to
• 6:33
  rush.
• 6:34
  You're
• 6:34
  less
• 6:34
  likely
• 6:34
  to
• 6:35
  overlook
• 6:35
  something.
• 6:36
  And
• 6:36
  you're
• 6:36
  more
• 6:36
  likely
• 6:37
  to
• 6:37
  notice
• 6:37
  when
• 6:37
  something
• 6:38
  seems
• 6:38
  off.
• 6:39
  And
• 6:39
  when
• 6:39
  something
• 6:40
  seems
• 6:40
  off,
• 6:40
  you
• 6:41
  figure
• 6:41
  it
• 6:41
  out.
• 6:41
  And
• 6:42
  that
• 6:42
  confidence
• 6:42
  grows
• 6:43
  with
• 6:43
  clarity.
• 6:44
  And
• 6:44
  that
• 6:44
  understanding,
• 6:45
  it
• 6:46
  really
• 6:46
  empowers
• 6:47
  you.
• 6:47
  See
• 6:47
  something
• 6:47
  simple.
• 6:48
  Deductions
• 6:49
  versus
• 6:49
  credits.
• 6:49
  Now
• 6:49
  you
• 6:49
  got
• 6:50
  to
• 6:50
  figure
• 6:50
  it
• 6:50
  out.
• 6:50
  Well,
• 6:51
  let's
• 6:51
  go
• 6:51
  to
• 6:51
  Our
• 6:51
  Bible
• 6:51
  verse
• 6:52
  today
• 6:52
  comes
• 6:53
  to
• 6:53
  us
• 6:53
  from
• 6:53
  Proverbs,
• 6:54
  chapter
• 6:54
  4,
• 6:54
  verse
• 6:55
  7.
• 6:55
  It
• 6:55
  says
• 6:55
  the
• 6:56
  beginning
• 6:56
  of
• 6:56
  wisdom
• 6:57
  is
• 6:57
  this.
• 6:58
  Get
• 6:58
  wisdom
• 6:59
  though
• 6:59
  it
• 7:00
  cost
• 7:00
  all
• 7:00
  you
• 7:00
  have.
• 7:01
  Get
• 7:01
  understanding.
• 7:03
  See,
• 7:03
  friend,
• 7:04
  understanding
• 7:04
  isn't
• 7:05
  optional.
• 7:05
  It's
• 7:06
  protective.
• 7:07
  Understanding
• 7:08
  reduces
• 7:08
  fear.
• 7:09
  A
• 7:09
  lot
• 7:09
  of
• 7:09
  people
• 7:09
  fear
• 7:10
  taxes
• 7:10
  because
• 7:10
  they
• 7:10
  don't
• 7:10
  have
• 7:11
  a
• 7:11
  basic
• 7:11
  understanding.
• 7:12
  They
• 7:12
  don't
• 7:12
  understand
• 7:12
  deductions,
• 7:13
  they
• 7:13
  don't
• 7:14
  understand
• 7:14
  credits.
• 7:15
  And
• 7:15
  when
• 7:16
  you
• 7:16
  have
• 7:16
  that
• 7:16
  understanding
• 7:17
  and
• 7:17
  you're
• 7:18
  reducing
• 7:18
  that
• 7:18
  fear,
• 7:19
  it
• 7:19
  helps
• 7:19
  you
• 7:20
  steward
• 7:20
  what
• 7:20
  God
• 7:20
  has
• 7:20
  given
• 7:21
  you
• 7:21
  better.
• 7:21
  It
• 7:22
  helps
• 7:22
  you
• 7:22
  notice
• 7:23
  those
• 7:23
  opportunities
• 7:24
  and
• 7:24
  it
• 7:24
  helps
• 7:25
  you
• 7:25
  keep
• 7:25
  from
• 7:26
  being
• 7:26
  intimidated
• 7:27
  when
• 7:27
  it
• 7:27
  comes
• 7:27
  to
• 7:27
  tax
• 7:28
  time.
• 7:28
  In
• 7:28
  the
• 7:28
  end,
• 7:29
  wisdom
• 7:29
  brings
• 7:29
  peace.
• 7:30
  So
• 7:30
  here's
• 7:31
  your
• 7:31
  simple
• 7:31
  step
• 7:32
  for
• 7:32
  today.
• 7:32
  I
• 7:32
  want
• 7:32
  you
• 7:32
  to
• 7:33
  write
• 7:33
  down
• 7:33
  one
• 7:34
  deduction
• 7:34
  you
• 7:34
  think
• 7:35
  applies
• 7:35
  to
• 7:35
  you
• 7:36
  and
• 7:36
  one
• 7:36
  credit
• 7:37
  you
• 7:37
  think
• 7:37
  applies
• 7:37
  to
• 7:38
  you.
• 7:38
  That's
• 7:38
  it.
• 7:38
  You
• 7:39
  don't
• 7:39
  need
• 7:39
  to
• 7:39
  be
• 7:39
  certain.
• 7:40
  Just
• 7:40
  start
• 7:40
  noticing.
• 7:41
  And
• 7:41
  once
• 7:41
  you
• 7:41
  notice
• 7:42
  it,
• 7:42
  that's
• 7:42
  the
• 7:43
  first
• 7:43
  step.
• 7:43
  It's
• 7:43
  that
• 7:44
  awareness.
• 7:44
  Because
• 7:45
  then
• 7:45
  you
• 7:45
  might
• 7:45
  be
• 7:45
  able
• 7:45
  to
• 7:46
  go
• 7:46
  find
• 7:46
  some
• 7:46
  information
• 7:47
  on
• 7:47
  saving
• 7:48
  money
• 7:48
  on
• 7:48
  your
• 7:48
  taxes.
• 7:49
  Well,
• 7:50
  let's
• 7:50
  pray
• 7:50
  together.
• 7:51
  Lord,
• 7:51
  thank
• 7:52
  you
• 7:52
  for
• 7:52
  understanding.
• 7:53
  Thank
• 7:53
  you
• 7:53
  that
• 7:54
  wisdom
• 7:54
  brings
• 7:54
  peace.
• 7:55
  Help
• 7:56
  us
• 7:56
  not
• 7:56
  feel
• 7:57
  overwhelmed
• 7:57
  by
• 7:58
  complexity
• 7:58
  and
• 7:58
  give
• 7:58
  us
• 7:59
  clarity
• 7:59
  as
• 7:59
  we
• 7:59
  prepare
• 8:00
  and
• 8:01
  guide
• 8:01
  us
• 8:01
  to
• 8:01
  use
• 8:01
  every
• 8:02
  provision
• 8:02
  wisely,
• 8:03
  we
• 8:03
  ask
• 8:03
  this
• 8:04
  in
• 8:04
  Jesus
• 8:04
  name.
• 8:05
  Amen,
• 8:07
  friend.
• 8:07
  If
• 8:07
  tax
• 8:08
  terms
• 8:08
  still
• 8:08
  feel
• 8:09
  confusing
• 8:09
  even
• 8:09
  after
• 8:10
  today,
• 8:10
  you
• 8:11
  don't
• 8:11
  have
• 8:11
  to
• 8:11
  navigate
• 8:12
  this
• 8:12
  alone
• 8:12
  anymore.
• 8:13
  Our
• 8:13
  community
• 8:13
  is
• 8:14
  built
• 8:14
  for
• 8:14
  learning
• 8:14
  without
• 8:15
  shame.
• 8:15
  It's
• 8:15
  not
• 8:15
  about
• 8:16
  judgment.
• 8:17
  It's
• 8:17
  about
• 8:17
  clarity
• 8:17
  and
• 8:18
  support.
• 8:18
  And
• 8:18
  I
• 8:18
  would
• 8:18
  love
• 8:18
  it
• 8:19
  if
• 8:19
  you
• 8:19
  would
• 8:19
  join
• 8:19
  us
• 8:20
  at
• 8:21
  financiallyconfidentchristian.com/join
• 8:23
  again.
• 8:24
  That's
• 8:24
  financiallyconfidentchristian.com/join
• 8:27
  because
• 8:27
  guess
• 8:28
  what?
• 8:28
  You
• 8:29
  belong
• 8:29
  there,
• 8:30
  friend.
• 8:31
  Understanding
• 8:32
  changes
• 8:32
  everything.
• 8:33
  Taxes
• 8:34
  don't
• 8:34
  have
• 8:34
  to
• 8:34
  feel
• 8:35
  mysterious
• 8:35
  or
• 8:35
  intimidating.
• 8:36
  With
• 8:37
  a
• 8:37
  little
• 8:37
  clarity,
• 8:38
  confidence
• 8:38
  can
• 8:39
  grow,
• 8:39
  and
• 8:39
  confident
• 8:40
  decisions
• 8:41
  lead
• 8:41
  to
• 8:41
  better
• 8:41
  outcomes.
• 8:42
  Now,
• 8:43
  tomorrow,
• 8:43
  we're
• 8:43
  going
• 8:43
  to
• 8:43
  continue
• 8:44
  on
• 8:44
  our
• 8:44
  tax
• 8:45
  we're
• 8:45
  going
• 8:45
  to
• 8:45
  answer
• 8:46
  a
• 8:46
  big
• 8:46
  question.
• 8:47
  Should
• 8:47
  you
• 8:47
  do
• 8:48
  it
• 8:48
  yourself,
• 8:48
  your
• 8:48
  taxes,
• 8:49
  or
• 8:49
  hire
• 8:49
  a
• 8:50
  pro?
• 8:50
  It's
• 8:50
  really
• 8:51
  going
• 8:51
  to
• 8:51
  be
• 8:51
  a
• 8:51
  great
• 8:51
  discussion
• 8:52
  tomorrow.
• 8:52
  And
• 8:53
  if
• 8:53
  today's
• 8:53
  episode
• 8:53
  helped
• 8:54
  you,
• 8:54
  share
• 8:54
  it
• 8:55
  with
• 8:55
  somebody
• 8:55
  else
• 8:55
  confused
• 8:56
  by
• 8:56
  tax
• 8:56
  them.
• 8:56
  If
• 8:57
  you
• 8:57
  know
• 8:57
  somebody's
• 8:57
  talking
• 8:57
  the
• 8:57
  other
• 8:58
  day
• 8:58
  at
• 8:58
  work
• 8:58
  about
• 8:58
  deductions
• 8:59
  and
• 8:59
  credits,
• 9:00
  send
• 9:00
  them
• 9:00
  a
• 9:01
  link
• 9:01
  to
• 9:01
  the
• 9:01
  show.
• 9:02
  Because
• 9:02
  this
• 9:02
  show
• 9:02
  isn't
• 9:03
  about
• 9:03
  financial
• 9:03
  shame.
• 9:04
  It's
• 9:04
  about
• 9:05
  walking
• 9:05
  in
• 9:05
  wisdom,
• 9:06
  staying
• 9:06
  steady,
• 9:07
  and
• 9:07
  truly
• 9:08
  becoming
• 9:08
  a
• 9:09
  financially
• 9:09
  confident
• 9:10
  Christian.
• 9:10
  God
• 9:10
  bless
• 9:11
  you,
• 9:11
  friend,
• 9:11
  and
• 9:11
  make
• 9:12
  sure
• 9:12
  you
• 9:12
  join
• 9:12
  me
• 9:12
  tomorrow
• 9:13
  for
• 9:13
  more
• 9:14
  tax
• 9:14
  tips.