Financial Podcast – The Financial Puzzle Playbook

Santa’s Take on Holiday Spending (Ep. 35)

By The Financial Puzzle Playbook | October 1, 2025

The holidays come early in this unforgettable episode of The Financial Puzzle Playbook, where Jim Sumpter is joined by none other than Santa Claus himself.

With a cocoa in hand and a beachy Hawaiian shirt on, Santa opens up about his off-season routine, what makes the perfect cookie, and why budgeting for the holidays is one of the greatest gifts you can give your future self.

Amid the laughs and holiday cheer, Jim and Santa dive into deeper reflections on meaningful memories, financial mindfulness, and how the best gifts often aren’t things at all. This feel-good episode is a joyful reminder of why we plan, why we celebrate, and why presence matters more than presents.

What to expect:

How Santa unwinds after the holiday rush (yes, there’s ice cream involved)
Tips for sticking to a holiday budget, straight from the big guy in red
Why experiences often make the best gifts
A special invite to CMC Financial’s client appreciation event
And more!

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What Rental Owners Get Wrong About Depreciation (Ep. 30)

By The Financial Puzzle Playbook | July 30, 2025

Depreciation can be one of the most misunderstood aspects of owning a business or rental property, and mishandling it can lead to IRS headaches, audit risk, or unexpected capital gains.

In this episode, Jim Sumpter, CFP®, breaks down how depreciation really works, including how it’s calculated, what qualifies, and what happens if you skip it.

Whether you’re renting out a home, replacing a roof, or writing off new gear, understanding the depreciation timeline is critical. Jim also covers recapture rules, Section 179, bonus depreciation, and how your decisions today could impact what you owe tomorrow.

Here’s what else you can expect from the episode:

The depreciation rules for roofs, carpets, A/C units, and sheds
How Airbnb properties might fall under a different timeline
Recapture explained: what you’ll owe if you sell early
Why a tax planning meeting before year-end can save you thousands
And more!

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Is It a Business or a Hobby? How the IRS Decides (Ep. 29)

By The Financial Puzzle Playbook | July 16, 2025

Have you ever wondered if your side hustle qualifies as a legitimate business or if the IRS sees it as just a hobby?

In this episode, Jim Sumpter, CFP®, unpacks the surprisingly high-stakes distinction between the two. With real-life examples, Jim walks through the IRS’s 9-factor test for business classification and why failing that test could cost you big.

Whether you’re freelancing, selling handmade goods, or launching a passion project, this episode will help you understand how to treat it like a business from day one.

Here’s what you can expect from this episode:

The 3-out-of-5-year IRS rule that could make or break your deductions
How to pass the 9-part business test (even if your work is part-time)
What counts as “expertise” in your field—and how to prove it
Common mistakes that turn business deductions into audit risks
And more!

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