According to the most recent available data, the IRS collected $5.1 trillion in taxes in 2024. Just ten years earlier, it collected $3.1 trillion.

We all grumble about paying the government this time of year. And gathering all our forms and statements while we're in the middle of a partial shutdown isn't going to make Tax Day 2026 any more pleasant. But those trillions are also signs of a healthy economy that continues to grow and generate wealth, which is good for your long-term financial planning.

Still, just because the government needs our tax dollars to provide essential services doesn't mean you should pay one dollar more than you're legally obligated to pay -- this year, next year, or over the course of your lifetime.

On today's show, we discuss some trends and best practices for both tax planning and tax prepping and why I believe

When was the last time you checked your penny jar?

If it's looking a little emptier than usual, that might be because we're in the middle of a penny shortage!

The U.S. Mint has ceased production of the penny because the cost of making one ($0.0369) is now almost four times what it's worth as legal tender.

While this is yet another step towards a more digital, cashless economy, you might want to take a look at that jar before you bring it down to the bank. Having fewer pennies in circulation could drive up the value of some rare pennies, like the $2.4 million 1943-D Lincoln Wheat Cent!

With more and more of our financial lives moving online, it's becoming more and more important to stay vigilant against potential scams and stay current on the rules.

As we discuss on today's show, one wrong click could share valuable information with a crook or trigger some unintended tax consequences – especially if you're managing your money solo.

During my recent trip to Australia, I learned that navigating a foreign country can feel normal but different all at the same time.

On the one hand, my family and I enjoyed the familiar experiences of being on vacation, such as unplugging from our daily routines, relaxing on a long flight, seeing the sights, and spending time with loved ones.

But once we arrived in Brisbane, we had to get used to a new landscape and a new set of rules. The huge time zone difference. Driving a "ute" (utility vehicle) on the left side of the road and overtaking (passing) on the right. Calling "French fries" chips and our friends "mate." Keeping an eye out for wild kangaroos.

Retirees may feel like they're facing a similar "familiar but different" financial landscape this tax season. While many of the strategies my team at Keen Wealth are discussing with folks are tried-and-true, some rules and details are changing due to new legislation that's going into effect. Your financial plan, and your financial team, need to be ready to adapt to these new rules so that you don't miss a key deduction and pay more in taxes than you really owe.

On today's show, we discuss the One Big Beautiful Bill Act's changes to the tax code and some specific provisions that require thorough proactive planning before you file your taxes in April.