Roth = post tax Traditional = pre-tax Both have their benefits and can be the right account at different times. In this episode Thomas and Jacob breakdown: - how Roth accounts work - how pre-tax accounts work - when it might make sense to use one vs the other - Roth conversions - which we use and prefer
Self employment retirement accounts are one of the best tax planning tools out there. The two main choices to pick from are Solo 401(k)s and SEP IRAs. Both can be good in the right situation. IN this episode, we break down: - what each one is - how it works - contribution limits - which we prefer
Most business owners start out just trying to survive. And then all the sudden, they are successful and they have no clue what is going on with the financials. They have never been taught what to do, what they know to know, what the numbers mean, etc. This is where outsourced CFOs can be so valuable. In this episode with Kurtis Hanni, we talk all things business financials and when and why hiring an outsourced CFO can make sense....
In this episode with Taylor Schulte, CFP we talk: - how to plan for retirement - the big risks you face - how to overcome the mindset shift as you switch from accumulation to decumuluation (the hardest part for everyone)
Asset location is something that is really important for investors to know about. Asset location is all about putting the right assets in the right accounts for tax purposes. We dive more into asset location, what assets make sense in which accounts, and much more!
Most consumers invest without having an intentional asset allocation. This can lead you to a lot of risk when being over exposed. IN this episode, we break down: - what asset allocation - the importance of it - what we believe about international exposure
Most think Jacob and I are not fans of insurance. But this could not be further from the truth. We implement term and permanent insurance for our clients. We just hate how often permanent is sold to the wrong person. In this episode, we have on insurance expert, Colin Webb, to talk through all things life insurance: - what term is and how it works - what permanent is and how it works - which is a fit and when - why working with an expert is so important - insurance terms that are important for y...
One of the hardest things for people to figure out is "what is enough" for them. For most, they have a number, they hit it, and then the goal poasts move. What can you do to work through this? It really depends on what your motives really are.
Most people are worried about money. They think the next income or net worth target will change that, but it doesn't. Time and time again we see this happen. So how you you best handle this? Listen as we help you think through this as well as how to eliminate guilt around spending.
In this episode with Paula Pant, we talk: - Current state of the jobs markets - Current state of the stock market - Current state of interest rates - What they all mean for you - How planning changes when rates are where they are
In this episode with Abby Davisson, we talk through: - her book and what the 5 C's are when going through a big decision - a few life situations she has had and how she went through the decision - how to make sure you make decisions based on what is most important - how financial planners help do that
In this episode with Tyler Harris we talk: - What C Corps are and how they work - Why a business would and would not want to be a C Corp - What QSBS is and the tax savings it can create - How to stack QSBS - What QSBS packing is to maximize the tax free potential
In this episode, we walk through: - all the mortgage options you have and what we prefer and each did - the ongoing costs of owning a home - what to change in your financial plan after buying
In this episode we walk through the upfront costs of owning home like: - down payment - earnest money - property taxes - insurances - furniture - etc So you can best be prepared when you buy.
In this episode we go through Jacobs real life example of: - what he bought for - what he sold for - costs that went into it to maintain the home - taxes and fees - The real return he got over 7 years
Rent vs buy is a constant debate. Both Jacob and I are homeowners yet we can be realistic and look at the numbers. In this episode we chat about: - when renting can be better - when owning is better - the numbers behind mortgages - and much more!
In this episode, Jacob and I talk about: - how important it is to carve out different forms of investing as a business owners - how investing is different as a business owner - how to think through concentration - how concentration alters the way you invest externally
In this episode with Ankur Nagpal we talk: - about him scaling his first business to over $25mil in revenue - tax planning moves he made to get $3mil capital gains tax free - other tax planning moves to consider - the power of solo 401(k)s
In this episode with Thomas and Jacob go through 10 of the biggest mistakes they see business owners make. Some of the one's covered are: Holding too much or not enough cash in the business Not planning taxes Waiting till right before tax filing to do tax planning Not thinking Tax election status QBI Optimizing retirement accounts
Real estate syndications are really popular today. But not all of them are created equal. Aleksey helps us understand: - what they are - how they work - mistakes people make when investing in them
In this episode with Michael Girdley we talk: - his journey from starting one business to now running 10 - how to create your perfect day - advice he has for other business owners
In this episode with Thomas and Jacob they break down: - what tax planning moves you still have for 2023 - the need to change from being reactive to proactive on tax planning - talk through private equity from everything in the news recently
In this episode with Rafael Loureiro we talk about: - how to grow a business - how to raise capital - the challenges that come with raising capital - what to look for in the people who are giving you money - how to maintain culture - why investing in second time CEOs can be wise
In this episode with Thomas Kopelman and Jacob Turner, we talk about 10 misconceptions people have like: - leaving money in the business means it is not taxed - low deductibles are most important on insurnaces - the goal is to pay the least amount of taxes this year - Always go Roth or always go Traditional And much more!
In this episode with Preston Holland we talk: - The various ways to fly private - At what wealth levels you can afford each type - How much they all cost - The tax benefits for business owners
In this episode with Jacob and Thomas, we talk about: - how we manage our money - the tax planning we do - our savings and investing priorities - if we do Roth vs traditional - how we spend our money - how we invest - mistakes we have made
In this episode with top NIL lawywer, Darren Heitner, we talk: - About his journey from sports agent to law firm owner - About all things NIL, how it works, how they are paid, etc. - Financial planning for NIL athletes, soloprenuers, etc.
The start of the year as a business owner should be about planning. IN this episode we walk through: - How to get organized - How to think through what you will do this year with your business and how to make key strategic decisions - The documents you need to understand - Why tax planning is important to start at the beginning of the year
In this episode with Steven Jarvis, CPA, we talk: - Roth vs traditional - what a Roth conversion is - how to do a Roth conversion - Times it makes sense and time is does not - Things to look out for
In this episode with Dr. Julie Gurner, we talk about: - what traits the ultra successful have - the power of working with coaches - the importance of drive over motivation - how you can only really focus on 3 important parts of your life from work, to friends, to family, to working out, etc.
