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Tax Planning

Federal Tax Explanations – Video 1 – Overview

Want to know how much tax revenue the federal government receives and where it comes from? I’ve made it a goal to help educate people on the big picture of federal taxes. That way, you can have a greater understanding of how much the government receives, where it comes from, what truly makes a difference,

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Retirement Planning

The Power of Roth Conversions for Retirement

When we plan for retirement, one of the strategies that can be counter-intuitive, but extremely powerful is looking at Roth IRA conversions, especially in the early years of retirement. When I say it can be counter-intuitive, it’s hard to think about paying a lot of taxes now to save on taxes later. A lot of

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Business Planning

Profit Sharing Bonanza

Profit sharing plans can be a big deal for successful business owners. Many successful business owners will use profit sharing plans because it has a big impact on their financials in multiple different ways, especially among more white collar business owners that have been successful is. Think of doctors, lawyers, dentists, therapists, chiropractors. The list

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Business Planning

LLC Does Not Matter for Tax

We get a lot of questions about what type of business entity I should use for my business because there are lots of different options. You have C corporation, S corporation, partnership, sole proprietorship, LLC which stands for limited liability company. So people are always asking, what’s the best one to use? How should I

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Business Planning

Don’t Let Your Business Die

Let’s talk about a topic that is not necessarily fun to talk about, but it is important to talk about. If you’re owning a business, what happens if you die? And the reason we’re discussing this is because most people are familiar with life insurance. If you’re collecting a paycheck, you want life insurance for

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Business Planning

Retirement Account SNAFU

Man, there are a lot of different types of retirement accounts. We’ll try to clarify what these things are. So that way you can understand how to use them and what the benefits are. And I pray that someday maybe Congress will simplify all of this so there aren’t so many different types of accounts

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Business Planning

When Life is Short

Yes, unfortunately for many people, life is short. We’ve all known people who have either died young or had some medical issues that have really limited their quality of life, and with that perspective, it’s not to be negative. It’s simply to say, okay, what do we do from a finance perspective? Because we often

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Business Planning

Remove Tax Surprises

Let’s remove tax surprises. I’d say the most common frustration that we hear from people that come to us is that they have an advisor or an accountant or both, but they aren’t getting the full picture that they need. Typically, it’s either I have an advisor, but they don’t know anything about taxes or

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Business Planning

My Biggest Money Mistakes

I’ve talked before about how CPAs and financial planners are not perfect with money. And I’ve made plenty of mistakes in my lifetime but I wanted to highlight two in particular because they can be applicable to all business owners really and even to some that don’t own a business. The first of my personal

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