In this second episode of The Divorce the IRS Podcast, Jimmy Miller expands on what it really means to “divorce” the IRS and why taxes play a much bigger role in your financial life than most people realize.

Jimmy begins with a simple truth: no one enjoys paying taxes—especially surprise tax bills. While many people celebrate refunds, few realize refunds are often just their own money returned without interest, or even a loan they’ll repay later. This episode tees up future conversations that challenge common assumptions about taxes, refunds, and wealth.

One of the biggest reasons Americans struggle to build lasting wealth isn’t lack of effort—it’s lack of planning. Jimmy explains how taxes quietly undermine wealth creation over time. On average, Americans work more than 100 days each year just to cover their federal tax burden, even more when state taxes are included. This reality helped create “Tax Freedom Day,” when the nation has earned enough to pay its total tax bill.

This episode introduces the core philosophy of the podcast: real financial success requires modern, forward-thinking planning that looks beyond this year or next. It means saving and investing with a lifetime tax lens, deliberately minimizing what you owe the IRS during your life and even after it.

Jimmy explains that the show is built to help listeners identify and avoid “tax time bombs”—hidden traps in the tax code that can derail retirement plans, reduce income, and create painful surprises later in life. These traps often come from well-intentioned but incomplete advice and rules that quietly benefit the IRS more than the individual.

Listeners get a preview of what’s coming, including:

• Hidden taxes beyond income tax
• The three tax buckets and common misconceptions
• Why tax deductions and tax-deferred accounts may not always help
• The myth of being in a lower tax bracket in retirement
• The eight biggest tax time bombs and how to diffuse each one
• Roth strategies, conversions, and backdoor options
• Finding your “ideal number” for tax-deferred savings
• How this applies to F.I.R.E., real estate, and “die broke” strategies
• Planning for expats, cross-border families, and foreign nationals in the U.S.

Jimmy also emphasizes that while strategies can be implemented at any stage, time is your greatest advantage. Contribution limits and tax rules reward early planning—the sooner you start, the more control you can have over your tax future.

The episode closes with tax facts, including total taxes collected annually, money left unclaimed by non-filers, and the reality that U.S. citizens are taxed on worldwide income—even when living abroad.

This podcast is educational and designed to give you the foundational knowledge to make better decisions and avoid preventable mistakes. With the right planning, Jimmy believes many people can approach—or even achieve—a 0% federal tax bracket in retirement.

If you want to understand how taxes truly impact wealth and learn how to take control of your lifetime tax picture, this episode sets the foundation for everything that follows.

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