Let’s Talk About Tax Strategies for Student Loans
We talk a lot about student loans around here but we don’t always get to get into the more advanced and complicated topics related to them such as taxes. Well today we do! The fabulous Lauryn Williams joined me for almost an hour clearing up misconceptions and answering questions from real people (and not just lawyers!) struggling with student loans.
Lauryn is a CFP® (Certified Financial Planner) and also a 4-time olympian! As a finance major she felt a lot of pressure to have above and beyond knowledge of the financial world while navigating agents, contracts, and taxes of the professional sports lifestyle. A friend introduced her to a financial advisor who was unintentionally less than helpful to a 20-year-old with little life experience.
Noticing a major gap in the financial industry led Lauryn to want to become a CFP®. It’s important that young professionals learn the foundational pieces that allow them to need wealth management later in life.
Money is emotional. Debt is stressful. Many people think that once they make a six figure income life is going to be great, but there is no magic wand and even smart, successful lawyers need financial help.
When thinking about student loan debt in relation to taxes Lauryn posed (and answered) a few questions for us:
What repayment programs and plans are there and which is the best choice for me?
What is your repayment strategy and what kinds of loans do you have?
How should I file? Married filing separately or married filing jointly?
Which repayment plans affect my taxes if I get married?
How can I save for the future when I owe so much in student loans?
What is my tax liability and how can I be ready?
What are some tax loopholes that will help me save money?
I live in a community property state, what are the advantages/disadvantages?
Watch the entire Zoominar to get the answers plus real-life questions & answers from folks just like you!
For all things Lauryn, check out the links below.
Instagram: https://www.instagram.com/lauryncwilliams/
Facebook: https://www.facebook.com/LaurynWilliamsOfficial/
Podcast: https://podcasts.apple.com/us/podcast/worth-listening/id1330634046?ls=1&mt=2
Website: https://www.lauryn-williams.com/
Student Loan Planner Website: https://studentloanplanner.com
And if student loans are just one of the financial issues stopping you from pursuing the career and life of your dreams, schedule a free consult with me to see if we’d be a good fit. I help lawyers figure out the money so they can optimize what they’re doing now and make the most of their future. Sounds pretty good, right?
