Tax Planning – The Financial Puzzle Playbook

The Tax Control Triangle (Ep. 46)

By The Financial Puzzle Playbook | May 20, 2026

Many people think tax planning happens once a year when they file their return. Jim Sumpter believes the real planning starts after tax season ends.

In this episode, Jim introduces what he calls the “Tax Control Triangle,” a simple way to think about where your money lives, how it’s taxed, and why flexibility matters when it comes time to use it. Jim walks through the differences between taxable accounts, tax-deferred retirement accounts, and tax-free strategies like Roth IRAs. He also explains why having money spread across all three “corners” of the triangle may help create more options later in life, especially as tax laws, income needs, and life circumstances change over time.

Jim Sumpter, CFP®, discusses:

(00:04:00) The three corners of the Tax Control Triangle and how each type of account is taxed
(00:08:00) Why many retirees unintentionally limit their options by relying on only one or two tax buckets
(00:14:00) How Roth conversions may help create more future tax flexibility
(00:20:00) Why financial planning should evolve as life changes, tax laws shift, and new goals emerge
(00:31:00) How newer strategies, like Roth 401(k)s and updated 529 rules, are changing retirement planning conversations
And more!

Resources:

Tax Planning Resources: https://tax.cmcfp.com
The Tax Control Triangle for Retirement

Connect with Jim Sumpter:

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Breaking Down the Latest Tax Code Changes and What They Really Mean (Ep. 43)

By The Financial Puzzle Playbook | February 20, 2026

Tax headlines can sound simple, but the details often tell a different story.

What do recent tax law updates actually mean for your income, deductions, and long-term planning? And how should you adjust when the rules keep shifting?

In this episode, Jim Sumpter, CFP®, breaks down key changes from the recent tax bill and explains how they affect families, retirees, and business owners. He covers updates to SALT deductions, child tax credits, and charitable giving, while clarifying common misconceptions around “no tax on Social Security,” tips, and overtime.

Jim also outlines new rules for auto loan interest, dependent care, bonus depreciation, and expanded 529 plan uses, emphasizing why ongoing tax planning is essential as laws evolve.

Key takeaways:

How the temporary SALT increase to $40,000 could impact itemizers through 2029
What “no tax on Social Security” actually means for income thresholds and age
Why the child tax credit increase and refundable portion matter for families
New above-the-line charitable deduction for standard deduction filers
Expanded 529 uses, auto loan interest rules, and planning around expiring provisions
And more!

Connect with Jim Sumpter:

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Understanding Tax Deductions for Charitable Contributions with Andy Graffeo (Ep. 15)

By The Financial Puzzle Playbook | December 4, 2024

Are you aware of how charitable contributions can impact your taxable income this year?

In this episode, Jim Sumpter, CFP®, brings Andy Graffeo, Financial Advisor at CMC Financial, on to piece together the tricky puzzle of end-of-year tax planning with a special focus on charitable contributions. Andy, a key partner at CMC Financial, lends his tax expertise to help listeners navigate this often confusing landscape. Together, they shed light on how to maximize tax deductions while doing good.

Jim and Andy discuss:

(01:52) Understanding donations to reputable 501(c)(3) organizations and the documentation required for cash and non-cash contributions
(04:09) Best practices for assessing fair market value for non-cash items and the steps necessary for high-value donations, including vehicles
(13:20) The intricacies of charitable strategies involving appreciated assets, donor-advised funds, and charitable trusts
(17:52) Key insights into Qualified Charitable Distributions (QCDs) for those over 70½, highlighting the tax benefits of direct donations from IRAs
And more

This episode is packed with practical advice and insider knowledge to make your charitable giving both rewarding and tax-savvy.

Resources:

Connect with Jim Sumpter:

Connect with Andy Graffeo:

About our Guest:

Andy Graffeo began his career with RFG in 2003. He has years of experience in tax and financial planning for families and small businesses. As a Birmingham native, he attended Ensley High and UAB. Andy is a board member of the Birmingham Girls Choir, Italian American Heritage Society, and serves as Treasurer of his HOA in Hoover.

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The Story Behind the CMC Financial Brand (Ep. 2)

By The Financial Puzzle Playbook | May 22, 2024

The name ‘CMC’, the different financial puzzle pieces, and our bright color scheme of teal, green, pink, and yellow — they all are an essential part of our brand.

But how did it all come together?

Let’s take a look at the origins of the CMC Financial brand with your host Jim Sumpter, CFP®. In this episode, Jim takes listeners behind the scenes and shares his journey of becoming an independent advisor and how he involved his kids in the branding process.

Jim discusses:

A recap of the six essential financial puzzle pieces
The intertwined nature of financial decisions (with examples)
A little about the lives of his three dearly loved kids: Carson, Madison, and Cassidy
What listeners can expect in future episodes
And more