John Thompson is here today to talk about how the future is reinventing taxes. He discusses his diverse career path from technology and programming into finance, tax services, and nonprofit work, highlighting his long-term involvement with the Financial Health Network and their efforts to improve consumer financial health. He explains how H&R Block has evolved from serving primarily low- and middle-income clients to addressing more complex financial needs, and how automation and technology are changing tax preparation and accounting. Thompson emphasizes the importance of personal finance fundamentals, daily cash-flow systems, and awareness in managing income, debt, and budgeting amid rising costs and structural challenges like housing and healthcare.

We discuss...

• John Thompson shares his career journey from technology and programming into finance, tax services, and nonprofit work.
• He highlights his 25-year relationship with the Financial Health Network and their mission to improve consumer financial health.
• John explains how research on bridging taxes and banking for underbanked populations inspired practical programs at H&R Block.
• He describes the evolution of H&R Block from serving primarily low- and middle-income clients to addressing more complex financial needs.
• Automation and technology in tax preparation are allowing professionals to focus on higher-value advisory services rather than data entry.
• Thompson emphasizes the importance of daily personal finance systems to manage cash flow, spending, saving, and debt.
• Challenges like inflation, housing affordability, student loans, and healthcare costs create structural barriers to financial health.
• Thompson discusses how banks and financial institutions are experimenting with different models to serve both underbanked and community-focused customers.
• He points out that for many simple tax filers, future trends may simplify filing to automated or postcard-level processes.
• Thompson stresses the importance of taking timely financial actions at key moments, like tax season, raises, or job changes.
• He highlights upcoming policy and product changes, such as the retirement savings match in 2027–2028 and child savings accounts starting in 2025.
• Thompson underscores that financial resilience requires both structural solutions and disciplined personal money management.

Today's Panelists:

• Kirk Chisholm | Innovative Wealth
• Barbara Friedberg | Barbara Friedberg Personal Finance

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For more information, visit the show notes at https://moneytreepodcast.com/reinventing-taxes-john-thompson-772

This could be your best trade of the year! Join us as we share December secrets for your portfolio. We also talk about the shifting narratives around climate change, deregulation, and rising energy demand driven by AI. We also explore expectations for low energy prices through the election cycle, concerns about an AI-driven bubble, the continued K-shaped economy, and tactical investing insights such as exploiting year-end tax-loss selling, watching beaten-down sectors, monitoring insider buying, and recognizing mutual-fund distribution dips.

We discuss...

• Political climate influences environmental narratives, pointing out that media references to "climate crisis" suddenly dropped as energy demand pressures changed.
• The explosion of AI data centers has quietly forced policymakers to pivot from anti-energy rhetoric to encouraging more electricity production and deregulation.
• How AI companies are now some of the largest new consumers of electricity, making cheap, abundant power a strategic priority for the tech sector.
• Energy prices are being politically managed to stay low into the midterm elections to keep inflation optics favorable.
• While AI valuations are stretched, there's unlikely to be an immediate bubble burst because capital flows and earnings momentum remain supportive.
• How end-of-year tax-loss harvesting creates forced selling in beaten-down stocks, temporarily pushing prices below fair value.
• Mutual funds selling to raise cash for capital-gains distributions can generate artificial dips that offer tactical buying windows for informed investors.
• Insider-buying activity is a useful signal in December, since executives often buy when their stock is mispriced due to seasonal pressures.
• A simple long-term Bitcoin approach: buy when it collapses on fear, hold through chop, and scale out when it becomes euphoric and parabolic.
• Concerns about the systemic risk attached to MicroStrategy's leveraged Bitcoin balance sheet and how a sharp BTC drawdown could spark forced selling.
• How crypto ETFs, institutional custody, and Wall Street participation may reduce volatility over time but also increase susceptibility to coordinated market moves.
• How markets today reward patience, skepticism, and tactical opportunism more than blind buy-and-hold in all sectors.

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/best-trade-of-the-year-771