Podcasts about c corporations

An informative session was presented by Senior Tax Accountant Sanika Gore, CPA, ACA, MBA and Client Services Manager Arianna Gonzalez, MBA. The session explored key tax planning strategies designed specifically for C-corporations, including ways to minimize tax liability, maximize deductions, and navigate recent tax developments impacting corporate entities. It also highlighted proactive approaches businesses could take to improve overall tax efficiency. The webinar provided valuable insights for business owners, executives, and financial professionals, along with an opportunity to learn from experienced professionals.Listen in to know more!

In this episode, I show you how to complete Form 1120, C Corporation Income Tax Return. Not only do I show you how to complete pages 1-6 of the Form 1120, including page 1, Schedule C, Schedule J, Schedule K, Schedule L, Schedule M-1, and Schedule M-2, but I also walk you through supporting schedules such as Form 1125-A (Cost of Goods Sold), Schedule G (Information on Certain Persons Owning the Corporation's Voting Stock), Form 1125-E (Compensation of Officers), Form 4562 (Depreciation and Amortization), and detail statements.Looking for a professional CPA firm to file your business and/or individual tax returns? Book a free consultation here: https://calendly.com/clarita-cpa-grou...

BRADY WELLER discusses the intricacies of QSBS rollovers, including eligibility, timing, and strategic planning for founders and investors. The goal is to help the listener maximize tax benefits and navigate the legal complexities of this powerful tool. https://youtu.be/gvQ0ZskvWVI QSBS, tax exemption, startup founders, rollover, legal structuring, investment strategy, tax planning, startup exit, C corporation, Key Topics QSBS eligibility and benefits Challenges in executing rollovers Legal and tax considerations for founders Timing and risk management in rollovers Strategic structuring for maximum benefit “QSBS ROLLOVERS” Sound Bites “60 days is a very short window for founders.” “Rollover continues your holding period clock.” “Partial rollovers are common for founders.” Chapters 00:00 Understanding QSBS and Its Benefits 03:07 Challenges for Founders in QSBS Compliance 05:54 Advising Founders on QSBS Rollovers 08:57 Structuring New Ventures for QSBS Eligibility 12:00 Navigating QSBS for Tech and Non-Tech Founders 14:54 Investor Considerations in QSBS Transactions 17:46 State-Specific QSBS Regulations and Planning 20:57 Future of QSBS and Strategic Planning Resources Brady Weller on LinkedIn qsbsrollover.com qsbsreference.com Frazer Rice and Michael Arlein discuss the nuts and bolts of 1202 QSBS Features for Founders Guest links LinkedIn Transcript Frazer Rice (00:01.314)Welcome aboard, Brady. Brady Weller (QSBS Rollover) (00:03.043)Hey, Frazer, thanks for having me. Frazer Rice (00:04.738)Well, you are the nice compliment to a piece I just did with Michael Arlene on QSBS. We covered some of the nuts and bolts around 1202. You come at it from a little bit different angle. It’s usually where people, founders especially, have issues sort of complying with things like the three and five year rule. And otherwise really maximizing the capability of the rollover and the tax significance for it. Tell us a little bit about who benefits and what you do here. Brady Weller (QSBS Rollover) (00:35.107)Yeah, QSBS is. by far the biggest tax exemption available to individual taxpayers in the U.S. So it’s been something that hasn’t been up. I should say there’s not a massive advisory network around it. So it’s not something that’s been taken advantage of, I think, to its full scope. Michael, who you had on recently, is a top trust and estate planner for founders of companies around QSBS. The specific problem that QSBS rollover solve is for a shareholder of an early stage company. Most often founders or very early investors, say, maybe series A or earlier shareholders. It’s an incentive to basically hold your stock for a quote unquote long time. In this sense, that means, you know, now under some new rules, basically three to five plus years. It’s a tax exemption available to folks who hold their stock for at least five years. Then they can exclude from federal income tax now up to $15 million of gains when they sell that stock. So you have to be a shareholder in an early stage C corporation, early stage company. Frazer Rice (01:50.616).Those founders before three to five years are trying to figure out how to use this tool. What are the challenges in making sure they don’t blow up the transaction by transferring something poorly. Or having their company grow too large or have too much cash or those types of things? Maybe list out a little bit some of the challenges that are out there that that a founder needs to be aware of. Brady Weller (QSBS Rollover) (02:22.509).Yeah. So we don’t have to constantly caveat. I’ll mainly talk as though we’re speaking about the pre July 5th, 2025 rules for QSPS. Anything, any stock issued after that date, middle of last year. is under a slightly different set of rules. They are more expanded rules, but I’ll speak to this sort of from those old rules. And so the old rules state that you have to hold your stock for at least five years. And if you do, you can exclude a large portion from federal income tax, usually $10 million for founders. But if you don’t hold the stock for five years, your only option is to take the cash from that sale. For example, say you sell stock at year three or year four, and purchase new QSBS eligible stock with that cash within 60 days. So it’s sort of like the 1031 exchange. Folks maybe are more familiar with real estate property exchanges. Its sort of like a 1031 exchange for stock. So you take the cash and you purchase a like kind quote unquote asset with it. Now the challenge with that is 60 days is not a very long time. And when you’re a founder of a company who just went through liquidity. You just got your deal done and the whirlwind that that is. Now you’re dealing maybe in a post liquidity world. You’re maybe running another team at the acquirer or you’re otherwise involved. 60 days is not a long time to be able to find and diligence a new opportunity. . It’s just not feasible. Especially for founders to use that cash to say buy stock in someone else’s company. It just doesn’t make sense. Like risk adjusted, I suppose. Frazer Rice (04:05.579)No, it’s a miracle that your company did great. Now you have to go and find another miracle and make it work within 60 days. It’s crazy. Brady Weller (QSBS Rollover) (04:10.143).That that’s the biggest that’s probably the biggest barrier to executing them. For the longest time there just weren’t a lot of people. They hadn’t come alongside founders to help advise them on structured ways that they could do these rollovers. Yeah, the options are risky. It’s like take your money and invest it in Dave’s startup in San Francisco. He’s going to lose your money. So that may be what you want to do with that money. To keep your risk profile sort of moving. But that’s not tax planning in any way. Right. To make that decision just to save on federal income tax might not be the best way to use your rollover. So we’ve seen it much more for angel investors, something that they might use. People who want to maybe have a lot of deal flow. A lot of investment opportunities in front of them. But they want to keep that risk profile moving. I’d say timing and risk are the two biggest challenges when you’re trying to execute a rollover. Frazer Rice (05:13.805).As a detail on that, you’ve got your company. You’ve got $10 million coming to you. Hopefully tax free, similar to a 1031. You don’t have to go into one company, you could go into a basket of companies. Brady Weller (QSBS Rollover) (05:28.579).Yeah, you could take the cash, say you make $10 million from a sale. You could pay taxes on $3 million of it, assuming you haven’t hit your five year requirement. Then, you could roll over the other seven in various other deals. You could put it all into one new company. What the rollover actually does is it continues your holding period clock from the last stock. So if you held for three years in your original company stock, You sell. You’re able to reinvest those proceeds within 60 days. It continues your holding period. Once you’re beyond a combined five the next liquidity event in the second company. Now you have proper seasoning on your shares, for lack of a better word, and then you can sell them under the QSPS exemption. Frazer Rice (06:17.143)So, this gets to what you do on a day-to-day basis. So a founder comes to you and says, all right, I’ve got this situation I think that’s coming. And I need some advice. You’re sort of letting them know what’s happening here. How do you advise them, in a sense, whether it’s through your company or even as a general matter? Do you have a suite of other founders and companies that are out there? And then… Maybe also similar to a 1031, is there sort of an intermediary function that needs to happen in order for the asset or the cash to go into sort of a, for lack of word, like an escrow account to then be deployed correctly into the eligible next company so that you keep that period going. Brady Weller (QSBS Rollover) (06:50.713)Boom. Brady Weller (QSBS Rollover) (07:05.839)That’s a good question. It’s not as formalized as the, you know, in terms of the 1031 world where there’s sort of a designated intermediary and that’s sort of required step in the process. This is very much the wire goes into your checking account for the sale of company A stock. Frazer Rice (07:11.703)Mm-hmm. Brady Weller (QSBS Rollover) (07:22.281)You send a wire back out to purchase stock in company B. When someone comes to us and is looking for guidance on how to do a rollover, sometimes they’ve talked to tax or trust in state attorneys already, or maybe they’re CPA. And there are maybe 50 folks in the US who have, I’d say, Frazer Rice (07:37.463)Sure. Brady Weller (QSBS Rollover) (07:45.07)I call it advanced QSPS planning knowledge, which is they have the trust planning strategies, rollover knowledge, all of these things that sort of at their disposal that they can speak to, but it’s a very small network. so our firm is actually the only non-CPA non-law firm in the country that deals directly with founders on these. And so we ended up kind of playing quarterback, connecting them with the right attorneys, maybe the right CPA, if they don’t have one to make sure that the team is sort of assembled. You know, because the risk profile of taking your money and investing in someone else’s company typically doesn’t align with most founders’ interests at that time, the service that we provide is helping them to roll that money into a new startup of their own. We think these founder-led rollovers where the founder or the shareholder who sold their original stock can now direct the proceeds into a new entity that they own and control. It’s a really great way to execute this. It gives the shareholder, the founder the optimal amount of flexibility and control over the proceeds over time. So they can handle their own risk profile. Frazer Rice (08:57.921)So for the founder who built their business originally, they sell it and you’re sort of with them along the way to roll it over into another founder led situation. Are there any mechanics that you help with to sort of ensure that that takes place correctly? There’s so many, it seems like so many tiger traps along the way that you can stick your foot in and you did every, your intent was there, but maybe you did something weird or incorrect. Brady Weller (QSBS Rollover) (09:26.617)Yeah. Frazer Rice (09:26.721)Maybe a better way to ask this question is what are the things in that receiving new QSBS rollover do you want to see or a founder should make sure they have in place before they go ahead and pull the trigger? Brady Weller (QSBS Rollover) (09:41.904)We want to make sure it’s a C corporation. First of all, a lot of times when founders start their first companies, they just, you know, incorporate an LLC somewhere and start doing business. A lot of times there’s not even, maybe there’s, you know, two or $3,000 transferred to a checking account, you know, from their personal to their checking. That’s how you start most businesses. But when you’re, when you’re starting a rollover business, we have to see a couple other things. One is we want to make sure it’s a C corp from day one. Frazer Rice (09:58.989)Right. Brady Weller (QSBS Rollover) (10:09.123)You know, it’s okay if it’s a single owner C Corp where the founders, the, you know, only board member, only director. It’s, you know, it’s your entity. That’s fine. but we also want to see a purchase agreement, some kind of stock purchase agreement. So you can’t just transfer money from your chase savings account where the wire landed to the new business account and, know, go on about, about the business. we want to see a stock purchase agreement. And so some of those agreements, and the optimal way to do those for sort of the, the, the long run. Sometimes, we would obviously we have our template docs in ways that we might advise to do it. But very often we refer that out to legal counsel and coordinate there to make sure that just all the purchase agreements and governance docs and those types of things are in a good place. You know, it’s really making sure we have the purchase agreements and that the money gets moved to the corporate bank account, the new business bank account within 60 days. It’s really not a long period of time. And we run into a lot of situations where If someone’s not kind of quarterbacking the process, deadlines get away quickly and then administrative issues with a bank might push you beyond the 60 day window. We’ve seen that a few times and it can obviously cost you a lot of money. Frazer Rice (11:24.468)The, when you get to a point where the next business that this is going into, often the qualifications of being a QSBS eligible business can be a little bit murky. I’m thinking healthcare for instance, where like a hospital or that type of thing would traditionally probably not be a QSBS situation, but a healthcare service provider or a biotech company or something like that is. Brady Weller (QSBS Rollover) (11:46.937)Yeah. Frazer Rice (11:51.029)Do you help founders think about that? in many ways, there’s sort of the which came first, the idea for the company or the company itself. How do you make sure people stay on all fours on that front? Brady Weller (QSBS Rollover) (12:00.56)Yeah. Yeah, I if you build a startup before, know that the ideas in the early stage sometimes are extremely malleable. And when you start testing things in the market, the business very often changes. You know, we majority work with tech founders and that’s not because, you know, QSBS is well suited for tech. I think a lot of people think that to be QSBS, to be a technology company. That’s not true. It’s just that we most often see QSBS. We run into people who are knowledgeable about QSBS in the venture space. So venture backed start up, like traditional startup businesses, has 80 % plus of those companies are tech businesses. And then the other 20 % is manufacturing, biotech, life science, e-commerce, those types of things. But majority of people that we do these transaction with are in tech. And so by virtue of that, their rollover business ends up being, most of the time, ideas that they have are tech adjacent. So that’s a great place to be. I’d say some things to avoid. What we hear often people coming to us wanting to roll over into real estate in some way or another. And there are ways that the business that you start as part of a QSPS roll over can hold real estate assets long term, depending on the business type. But you have to be really careful there not to, in the eyes of the IRS, look like a real estate holding company or have too much of your assets tied up in sort of like passive real estate holdings. And so I’d say that’s the murkiest stuff that we run into. Brady Weller (QSBS Rollover) (13:37.822).Most of the businesses that we are helping founders start and grow as part of a QSPS rollover are B2B or B2C tech. Either web applications or mobile applications, e-commerce stores. We have a few hardware sort of based companies or like very physical product based companies as well. Frazer Rice (13:58.431)For a lot of tech founders, the idea of taking some money off the table is important. And I would think that maybe partial QSPS situations come up. This isn’t an all or nothing thing. You can take some money off the table and then allocate other parts, maybe half off and then the other half you can roll into the next company. Brady Weller (QSBS Rollover) (14:14.137)Yeah. Brady Weller (QSBS Rollover) (14:18.798)I’d say an extremely common situation that we see is maybe a founder. in New York who is raising maybe a Series B, call it a 50 or $60 million Series B. We saw a lot of these size rounds with the AI kind of boom happening and might be an opportunity to take, you know, four to $6 million off the table as secondary at that stage in the company’s growth. so you have this founder who just got $5 million wired to their bank account, maybe their first money. They’ve been renting in a condo or apartment in the city and they’re still very much like in high growth stage with company so they don’t have a lot of bandwidth to run a new business. And so they’ll really try and de-risk themselves. That is, maybe pay taxes on a million, a million and a half, give themselves a cushion right away, maybe buy a condo or you know whatever, stabilize their life just a bit and roll over the other four, three and a half million, you know, and manage a project on the side that way. That’s a really common situation we see. Frazer Rice (15:19.624)For investors who are invested in a lot of different things and maybe you know, they’ve got six or seven companies that are QSBS eligible and they are sort of rolling the dice on that and sort of picking and choosing which one should go into which that type of thing What’s different about it from an investor standpoint than from an operator standpoint? Brady Weller (QSBS Rollover) (15:43.758)Yeah, I think the biggest thing investors have to pay attention to is if you receive a distribution that isn’t QSPS eligible because of holding period, you cannot just take that money and invest it back into a venture fund. and call that a rollover. The money can go into a venture fund, but that capital also has to be called and deployed into, an investment from that fund. Meaning you can’t just invest in the, in the partnership at the partnership level in a venture fund and it’s sit there undeployed and be eligible for QSBS. It actually has to be fully deployed into target, target opportunities within 60 days. So that’s something that I think that we’ve run into a couple of times with, with investors is they think, I’ll just, know, Fund2 is open at, you know, XYZ firm. I’ll just roll the money over there. But it does have to be deployed still within that 60 day window. So that’s something that we hear a lot of. You know, if you’re an investor, I would keep, you know, you don’t always have the perfect deal ready at the right time. But keeping good relationships with the founders that… you’re partnering with, you know, you never know when someone might be able to open up a tranche on the side or sell some secondary to you. if you’re trying to still get access to that deal sort of outside of a normal round. Frazer Rice (17:07.445)So for the companies that are in your orbit, obviously you’re probably checking in saying, hey, you didn’t do anything to blow up your QSBS status. But for the companies that aren’t that way, and let’s say you’re a founder and you’ve got a nice situation where you’re able to take some money off the table and maybe put it into. one of the things that your friends put together or something like that. How do you think about a checklist or what are the questions to ask to make sure that the recipient investor or recipient of the investment is QSBS eligible and will sort of stick to it? Brady Weller (QSBS Rollover) (17:46.48)Yeah, you want to ensure first that the company is small enough. so under the old rules that I mentioned, the company would have to have less than $50 million of gross assets. A really great proxy for that is just how much has that company raised? You know, if you’re trying to invest in a company and they’ve raised $120 million, it’s very likely that they have at some point blown the asset test and they’re not issuing QSPS anymore. It’s very, it’s not always, but it’s very possible. A lot of people confuse that test for valuation. which is a mistake, you could have a billion dollar company in terms of market value, you know, with only 20 or 25 million dollars worth of assets on the balance sheet. It is possible, especially in some of these high multiple high growth tech businesses. And so, yeah, not confusing valuation with gross assets is one thing to pay attention to. the other is ensuring just that the company is a C corp, especially for early stage investors. I’m talking like first money in, maybe before, you know, pre seed or pre seed, would say, ensuring that the right structuring is in place such that, know, you’re getting stock issued directly from a C corporation at that time you’re investing. So I would say that’s something to worry about more if you’re, you know, an angel. who does a lot of sort of direct sourcing of deals and you’re not going through a fund. Most of the time, if someone’s raised capital directly from a venture fund, all the paperwork and things that you’re going to look for as far as QSPS are going to be in place, because most VCs are pretty well acquainted at this point with, hey, let’s make sure this is eligible before we get in here. Frazer Rice (19:27.913)Right. And just to distinguish, an LLC that elects to be taxed as a C Corp versus a C Corp, C Corp, is there any distinction there for our listeners? Brady Weller (QSBS Rollover) (19:39.673)Yes. Generally, we would say as long as the LLC has made that C-Corp election before issuing more at that stage, guess, membership units of stock, as long as they’ve made that C-Corp election prior to issuing the stock, then we feel generally good about it. But yeah, an LLC, it’s an entity structure whose default taxation is as a pass-through, but an LLC can also be taxed as a C-Corp and can issue quote unquote QSBS eligible shares. or units as well, so it is possible. Frazer Rice (20:12.683)I was gonna say, so for the listeners out there, C-Corp doesn’t just mean C-Corp, but the real operative language is that it’s taxed as a C-Corp component, and that should be part of your checklist as you go down the list of companies to potentially roll into. So for those people who aren’t exactly founders, but maybe are investors or otherwise part of businesses that they’ve been included in, et cetera. Those non-venture-backed businesses, what are the opportunities there for QSBS and then the ability to roll it over into other things? Brady Weller (QSBS Rollover) (20:48.708)Yeah, I would say it’s very rare that we see a non-venture-backed business in between the coasts, I’ll say, right? Like not one of these like kind of like call them coastal elite tech businesses. I’m talking about your like legacy family business in, you know, North Carolina. Frazer Rice (20:59.488)I mean… Brady Weller (QSBS Rollover) (21:11.856)Most of the time we’re going to see those as pass-throughs or partnerships, maybe like an S-Corp. You would see that type of structure and those businesses, while they could be amazing businesses, the interest in them isn’t QSPS eligible because it has to be issued from a C-Corporation. Most of the time, the planning opportunity we see with those types of businesses is around the time of maybe a generational transition or other type of transition planning where Maybe the children take over from the parents and they establish a plan. Hey, we’re going to take it over, but we want to plan to sell maybe the next five to seven years. I hear this a lot. And opportunity. If you are in an industry in a sector where stock sales are common in the industry for exiting the businesses, changing, electing to be treated as a C Corp or restructuring to a C Corporation from one of those pass through structures is an opportunity because you could sort of reorganize, reissue stock, now start your QSBS five year time clock. And, you know, hopefully the business keeps doing well and you can have that exit opportunity down the line. And at that point, take advantage of QSBS. Again, the thing you want to pay attention to is that you actually be able to do a stock sale at that time because QSBS requires a sale of stock, not an asset sale. And so that’s a really important distinction. So make sure either that you’re in an industry where that’s common or you’re working with counsel who understands what you’re trying to accomplish before you make those decisions about how you’re setting your entity up at that stage. Frazer Rice (22:41.353)Right. Frazer Rice (22:56.758)I just have a comment for me with the passage of the new law that we sort of alluded to where previously you really didn’t start thinking about this until fully five years. The new law, people can start thinking about it within three. You get 50 % of the benefit of the exclusion at three years. Brady Weller (QSBS Rollover) (23:08.282)Mm-hmm. Frazer Rice (23:15.21)And I’ve run into people where three years suddenly seems like a short amount of time, whereas five years, I think everyone was sort of like, we’ll get there eventually. you know, they’re they’re they’re fighting for their survival anyway. And if that happens to work terrific in this case, I think that the law moving the timeline up a little bit has had an interesting impact on those conversion discussions, because I think people are now starting to say, hey, you know what? I can get to three years. And, you know, with the speed at the and the rate at which things change at this point, it’s much more realistic than I think it might have been going back in time. Brady Weller (QSBS Rollover) (23:50.896)And if you have a stable business where you feel comfortable making projections, say three years out, so to what that business could look like at that time, it’s really becoming more common now to do what you’re calling like choice of entity studies, right? So working with someone who can model out with the difference in taxation, both at the company level and at the point of. Frazer Rice (24:05.482)Mm-hmm. Brady Weller (QSBS Rollover) (24:15.276)selling stock, what the optimal structure may be depending on your time horizon tax it, your expectations for growth or lack thereof. So that’s something that some valuation firms, business advisories, some law firms or CPA tax advisories may be able to do. If you’re in that situation, you’re trying to figure out, hey, what’s the math look like based on my baseline assumptions of what this business will be and can help you sort of make those decisions about how to plan. over the next three to seven years. Frazer Rice (24:47.402)As part of that reorganization too, I’ve talked to a few people who are in, let’s call it personality-based businesses, whether they’re podcasters or influencers or other types of things that are a little bit adjacent to maybe typical software companies. And I’ve brought up the notion that you may be disqualified now, but you may have a future growth opportunity within your business to make it fall more in line with a QSBS-defined business. And so, you if you’ve got the time and the ability and it makes a business sense, it may make sense to start thinking about either sectioning that off or developing that business line for something a little bit later on. Brady Weller (QSBS Rollover) (25:27.95)Yeah, being strategic about where those adjacent businesses, how they’re structured and where they’re built. And I mean, where like in terms of a legal entity level sense, I’m thinking about, for instance, several golf YouTubers, make a lot of golf content online, but now they’re announcing partnerships to, you know, design clothing, you know, have their own clothing line, or maybe they’ve entered a, a joint venture with a golf club maker or maybe an emerging brand and they’re taking equity. Frazer Rice (25:41.983)Mm-hmm. Brady Weller (QSBS Rollover) (25:57.826)Those are really interesting options and I think that you still have the opportunity to leverage your personal brand to grow that business but separating them out so that you know your reliance on your personal brand doesn’t ruin QSBS. That’s actually getting to one of the rules around qualified small business stock which is that the companies can’t be based on the skill or reputation of a single person. And so that’s when we think about Frazer Rice (26:24.938)Mm-hmm. Brady Weller (QSBS Rollover) (26:27.632)Like entertainers, athletes, social media personalities. MrBeast, for instance, couldn’t sell MrBeast, the YouTube channel necessarily, as QSBS eligible interest because of that rule more than likely. And that’s obviously a broad brush, paying attention to where you hold your business interests is important for this if you’re in that space. Frazer Rice (26:53.5)Any state thoughts? I know California QSBS is uncoupled from the federal QSBS and New York threatened it and apparently that got knocked down. New Jersey just coupled with the federal government so that people weren’t scared away from doing that. How does that figure into your analysis? Brady Weller (QSBS Rollover) (27:04.304)you Yeah. Brady Weller (QSBS Rollover) (27:12.784)It’s sort of a battle of the coast. It’s like which coast of the United States is going to be most investor and founder friendly with relation to these things. Yeah, because California hasn’t followed it for a long time. Oregon and Washington state are close behind there. And then we have the sort of somewhat the opposite happening on the East Coast. So as an East Coast guy, I hope it becomes a hub. But yeah, there is some sort of. Frazer Rice (27:19.528)Right. Brady Weller (QSBS Rollover) (27:36.388)you know, state and local tax planning, strategic planning that you might be able to do if you have the foresight and, you know, the right data to determine where you might become a resident or taxpayer prior to an exit. You might talk with a. assault attorney or assault advisor state and local tax is usually tax advisors CPAs or or tax attorneys who can help you think through Hey, does it make a difference whether or not I move from California to Texas? What does that look like for my family? What does that look like for my post-tax exit situation? because where the company is headquartered, as long as it’s in the United States, doesn’t matter for QSPS, just has to be a domestic USC corporation. And so remembering that QSPS is fundamentally an individual taxpayer incentive means that regardless of where the shareholders are located, you’re gonna be beholden to that specific state of where you live and their roles around QSPS. Frazer Rice (28:36.906)Terrific stuff. Brady, we’re winding down here. How do people find you and your company and any sort of parting thoughts? Brady Weller (QSBS Rollover) (28:44.516)Yeah, I’m personally very active on LinkedIn. So you can find me there, Brady Weller and our website, qsbsrollover.com. We also have a sort of an open source QSBS advisory referral site called qsbsreference.com. And so you can find us at either of those places. We’d be happy to help you out and point you in the right direction. Frazer Rice (29:05.13)Brady, thanks for being on. Brady Weller (QSBS Rollover) (29:06.874)Thanks, Frazier, appreciate it. Keywords QSBS, tax exemption, startup founders, rollover, legal structuring, investment strategy, tax planning, startup exit, C corporation, legal advice Titles Mastering QSBS Rollovers: Strategies for Founders and Investors The Ultimate Guide to QSBS Tax Exemptions and Rollovers https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

The Fortress Strategy: Masterclass in Asset Protection with Aaron YoungAre you building a business on a solid foundation, or is your personal estate one lawsuit away from a total collapse? In this high-stakes episode, Scott Carson sits down with legendary entrepreneur and asset protection expert Aaron Young of Laughlin Associates. With over 50,000 clients and a 54-year legacy, Aaron reveals why simply filing for an LLC isn't enough to keep you safe. If you're a real estate or note investor, you're in a "professional space" where buying assets and raising capital makes you a target. Learn why "piercing the corporate veil" has become the most litigated issue in business law and, more importantly, how you can build a "corporate veil" so strong that even the most aggressive "ne'er-do-wellers" won't stand a chance.5 Key Topics Covered in This Episode:The Myth of the "Free" LLC: Many entrepreneurs believe that paying a state fee and getting an EIN means they are protected. Aaron explains that a true "corporate veil" is only created when you demonstrate to the law that your business is a separate entity, not just your "alter ego" or personal piggy bank.The Rising Tide of Litigation: Small business owners in the U.S. have a one-in-four chance of being sued in any given twelve-month period. With 93% of the world's litigation occurring in the U.S., "frivolous" lawsuits cost small businesses over $100 billion annually as people search for a "pot of gold" in your success.Critical Corporate Formalities: To maintain separation, you must treat your company like a real business. This means having a formal operating agreement, issuing actual membership certificates, maintaining a stock ledger, and holding regular board meetings—even if you are the only employee.The Danger of Single-Member LLCs: While popular, single-member LLCs are often treated as "disregarded entities". Aaron warns that these provide significantly less protection than two-member LLCs or C-Corporations because all liability often flows directly back to the sole owner.Separation as a Deterrent: The goal of advanced asset protection is to make yourself look "undesirable" to contingency-fee lawyers. By using strategies like Nevada holding companies and resident agent firms, you create a "labyrinth" that forces predators to either walk away or risk their own capital at $700 an hour rather than suing you for free.Conclusion:"I am not the company, and the company is not me". This simple mantra is the difference between long-term wealth and sudden financial ruin. As Aaron Young shared through his harrowing story of a random, devastating car accident, we never plan for the "what ifs," but they happen regardless. Whether it's a slip-and-fall on a job site or a disgruntled former employee, the world is full of risks. Don't wait for an "event-driven" wake-up call after you've already been sued. Take action today to organize your estate, follow the law—even the "stupid" parts—and ensure that the wealth you work so hard to build stays exactly where it belongs: with you.Get Signed Up For the Dallas Magnify Your Wealth Summit HERE! Use code: NOTES to Get $100 Off!Watch the Original VIDEO HERE!Love the show? Subscribe, rate, review, and share!Here's How »Join Note Night in America community today:WeCloseNotes.comScott Carson FacebookScott Carson TwitterScott Carson LinkedInNote Night in America YouTubeNote Night in America VimeoScott Carson InstagramWe Close Notes Pinterest

The Fortress Strategy: Masterclass in Asset Protection with Aaron YoungAre you building a business on a solid foundation, or is your personal estate one lawsuit away from a total collapse? In this high-stakes episode, Scott Carson sits down with legendary entrepreneur and asset protection expert Aaron Young of Laughlin Associates. With over 50,000 clients and a 54-year legacy, Aaron reveals why simply filing for an LLC isn't enough to keep you safe. If you're a real estate or note investor, you're in a "professional space" where buying assets and raising capital makes you a target. Learn why "piercing the corporate veil" has become the most litigated issue in business law and, more importantly, how you can build a "corporate veil" so strong that even the most aggressive "ne'er-do-wellers" won't stand a chance.5 Key Topics Covered in This Episode:The Myth of the "Free" LLC: Many entrepreneurs believe that paying a state fee and getting an EIN means they are protected. Aaron explains that a true "corporate veil" is only created when you demonstrate to the law that your business is a separate entity, not just your "alter ego" or personal piggy bank.The Rising Tide of Litigation: Small business owners in the U.S. have a one-in-four chance of being sued in any given twelve-month period. With 93% of the world's litigation occurring in the U.S., "frivolous" lawsuits cost small businesses over $100 billion annually as people search for a "pot of gold" in your success.Critical Corporate Formalities: To maintain separation, you must treat your company like a real business. This means having a formal operating agreement, issuing actual membership certificates, maintaining a stock ledger, and holding regular board meetings—even if you are the only employee.The Danger of Single-Member LLCs: While popular, single-member LLCs are often treated as "disregarded entities". Aaron warns that these provide significantly less protection than two-member LLCs or C-Corporations because all liability often flows directly back to the sole owner.Separation as a Deterrent: The goal of advanced asset protection is to make yourself look "undesirable" to contingency-fee lawyers. By using strategies like Nevada holding companies and resident agent firms, you create a "labyrinth" that forces predators to either walk away or risk their own capital at $700 an hour rather than suing you for free.Conclusion: "I am not the company, and the company is not me". This simple mantra is the difference between long-term wealth and sudden financial ruin. As Aaron Young shared through his harrowing story of a random, devastating car accident, we never plan for the "what ifs," but they happen regardless. Whether it's a slip-and-fall on a job site or a disgruntled former employee, the world is full of risks. Don't wait for an "event-driven" wake-up call after you've already been sued. Take action today to organize your estate, follow the law—even the "stupid" parts—and ensure that the wealth you work so hard to build stays exactly where it belongs: with you.Get Signed Up For the Dallas Magnify Your Wealth Summit HERE! Use code: NOTES to Get $100 Off!Watch the Original VIDEO HERE!Book a Call With Scott HERE!Sign up for the next FREE One-Day Note Class HERE!Sign up for the WCN Membership HERE!Sign up for the next Note Buying For Dummies Workshop HERE!Love the show? Subscribe, rate, review, and share!Here's How »Join the Note Closers Show community today:WeCloseNotes.comThe Note Closers Show FacebookThe Note Closers Show TwitterScott Carson LinkedInThe Note Closers Show YouTubeThe Note Closers Show VimeoThe Note Closers Show InstagramWe Close Notes Pinterest

 8. Business Succession and AIProductivity Guest: Gene Marks Summary: Gene Marks provides tax advice for retiring "boomer" entrepreneurs, suggesting C-corporation conversions. He also introduces Microsoft's AI agents, which function like specialized digital employees to handle routine tasks such as billing and lead qualification. (8)1939 OKLAHOMA

In this Tax Tuesday episode, Anderson's Barley Bowler, CPA, and Eliot Thomas, Esq., address listener questions on a wide range of tax strategies for real estate investors, business owners, and healthcare professionals. They explain how seller financing affects the ability to use cost segregation and bonus depreciation under IRC Section 465's at-risk rules, and how a single-member LLC can recoup startup education costs through a C Corporation structure with shareholder loans. Barley and Eliot walk through the powerful tax advantages of setting up a management C Corporation over a Wyoming holding company — including medical reimbursements, accountable plan deductions, and W-2 solo 401(k) options. They cover what Medicare premiums and COBRA costs are reimbursable through a C Corp's medical reimbursement plan, how the Section 121 exclusion works for primary residence sales, and what options exist for mitigating a seven-figure business sale gain. Other topics include write-offs for uncollected insurance balances in healthcare practices, avoiding required minimum distributions by rolling into an employer plan, and electing pass-through entity tax in New York for investment partnerships. Tune in for expert guidance on these strategies and more! Submit your tax question to taxtuesday@andersonadvisors.com Highlights/Topics: 7:18 — "How does the use of seller financing impact the ability to use strategies such as cost segregation and bonus depreciation?" Under IRC Section 465, your deductible losses are limited to the amount you have personally at risk. First phrase: "This is a great question. This covers a lot of different angles." 15:27 — "The business failed to make any profit in year 1. How are those initial costs recouped, and how much can be carried forward to future years?" A C Corp election allows full education deductions; fund via shareholder loan for tax-free recoupment. First phrase: "A single member LLC spent $9,500 on training and other related startup costs." 21:06 — "If I operate one LLC per real estate project, does it make sense to have a separate management entity to deduct shared expenses like an assistant, office costs, business meals, travel, and pre-development work? What's the correct tax structure?" A management C Corporation reduces rental income and allows tax-free reimbursements to the owner. First phrase: "If I operate one LLC per real estate project, does it make sense to have a separate management entity..." 27:45 — "What components of Medicare premiums are reimbursable by my property management C corporation?" Out-of-pocket Medicare and COBRA premiums qualify; general wellness supplements typically do not. First phrase: "What components of Medicare premiums are reimbursable by my property management C Corporation..." 38:10 — "If I sell my house, how long do I have to buy something else before I owe capital gains tax? Do I need to purchase the next home for more than the sale of the house or is there a percentage of that value?" Section 121 excludes up to $250K single or $500K married with no replacement property required. First phrase: "If I sell my house, how long do I have to buy something else before I owe capital gains tax?" 44:45 — "For my healthcare practice, where can I write off balances that insurance refuses to pay, and promotions/certain population deals where I give service discounts or free visits/supplement packages for charity events?" Cash-basis taxpayers cannot deduct uncollected income, and donated services are not tax-deductible. First phrase: "For healthcare practice, where can I write up balances? Insurance refuses to pay." 50:02 — "Can I avoid taking Required Minimum Distributions at age 73, if I roll over my retirement contributions from a previous employer's plan to my current employer's plan?" Rolling into a current employer plan may defer RMDs if you are not a greater-than-5% owner. First phrase: "Can I avoid taking required minimum distributions at age 73?" 53:12 — "Can an investment partnership elect the Pass Through Entity Tax in New York? What are the issues creating/dissolving investment partnerships?" New York allows any partnership to elect PTET, generating a valuable federal-level tax deduction. First phrase: "Can an investment partnership elect the pass through entity tax in New York?" 59:38 — "I sold my company, and I am coming into a 7-figure settlement soon. What can I do with that money to decrease my taxes?" Explore charitable remainder trusts, qualified opportunity zones, and capital loss harvesting strategies. First phrase: "I sold my company and I'm going to come into a seven figure settlement soon." Resources: Tax and Asset Protection Events — Live workshop in Las Vegas, March 19–21 https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=how-to-structure-a-tax-efficient-management-entity&utm_medium=podcast Schedule Your FREE Consultation — Scan the QR code or visit the link to book your strategy session https://andersonadvisors.com/strategy-session/?utm_source=how-to-structure-a-tax-efficient-management-entity&utm_medium=podcast Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons YouTube https://www.youtube.com/@ClintCoons

In this episode, Anderson attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle listener questions on tax strategies for real estate investors and traders. They explain the tax implications of house flipping, including when to report income and how installment sales affect taxation. Amanda and Eliot discuss transitioning from a disregarded LLC to an S Corporation for managing rentals and flipping properties, emphasizing the importance of avoiding dealer status. They dive deep into 1031 exchange requirements, including timing constraints, qualified intermediaries, and the rules for converting investment property to a primary residence. Other topics include home office deductions versus reimbursements, deducting mileage for consultants with administrative offices, optimal business structures for active stock trading, differences between S and C Corporations, and the tax consequences of using corporate equipment for personal use. Tune in for expert guidance on maximizing tax savings while maintaining compliance! Submit your tax question to taxtuesday@andersonadvisors.com Highlights/Topics:   [00:00] Intro [06:26] I purchased a home for $12,000 in 2025 for flipping. Do I show it on my taxes at all or only after I flip? How do I calculate the taxes from flipping? If I want to sell a flip on installments – how does that change the tax? Report only after sale; calculate as ordinary income plus self-employment tax. [10:02[ What do you recommend to transition from a disregarded LLC to S Corp for managing rentals and doing house flipping as well? Use separate S or C Corporation to avoid dealer status. [14:10] I'd like to do a 1031 Exchange and eventually move into the property as my primary residence. How quickly can I do that? Wait 24 months with proper rental use before converting to residence. [19:03] What are some of the pitfalls of a 1031 exchange to focus on? Timing deadlines, qualified intermediary requirement, and boot recognition are critical pitfalls. [29:28] Can my S Corporation pay rent to me for my home office? And if so, is this considered personal income? Use accountable plan reimbursements instead to avoid taxable rental income. [33:32] If I am a consultant and take a gig at a company 35 miles from my S-Corporation's administrative office, can I write off the costs to get to the facility on the days I work there? Yes, with administrative office, mileage becomes deductible business travel expense. [36:41] What's the best business structure setup for active stock trading? Limited partnership with C Corporation general partner provides optimal tax benefits. [42:19] What are the differences between an S Corporation and a C Corporation for an LLC? S Corporation flows through; C Corporation pays flat 21 percent rate. [47:25] If I move equipment into my C corporation, can I still use it for personal use? Personal use over 50 percent creates taxable fringe benefit complications. Resources: Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=1031-exchange-pitfalls-real-estate-investors-must-know&utm_medium=podcast Schedule Your FREE Consultation https://andersonadvisors.com/strategy-session/?utm_source=1031-exchange-pitfalls-real-estate-investors-must-know&utm_medium=podcast Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons YouTube https://www.youtube.com/@ClintCoons  

In this episode of the Know Your Numbers REI Podcast, host Chris McCormack breaks down why entity structuring is one of the most powerful tax-saving strategies for real estate investors and business owners. Using a real-world case study, Chris reveals how a client facing a massive tax bill on nearly $1 million in profits was able to legally reduce their taxes by $58,000 through smart entity structuring.This episode dives into the importance of proactive tax planning, explores popular entity options like S Corporations and C Corporations, and explains how choosing the right structure can dramatically impact your bottom line.If you're a real estate investor looking to minimize taxes, maximize profits, and gain peace of mind, this episode is a must-listen.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.

Did you know that a tax benefit, the Qualified Small Business Stock (QSBS) tax exclusion, can save you millions? Discover how properly structuring your company from the start can lead to a tax-free sale of your C Corporation, potentially saving you millions. You'll learn the crucial steps to take now to prepare for a successful and highly profitable exit later. View the complete show notes for this episode. Want To Learn More? Allocation of Purchase Price & Taxes When Selling a Business Business Exit Plan & Strategy Checklist | A Complete Guide Why You Need to Consider Taxes Before Selling Your Business Additional Resources: Selling your business? Schedule a free consultation today. Sign up for an Assessment and Valuation of Your Business. Courses: The Art & Science of Selling a Business Download The Art of The Exit: The Complete Guide to Selling Your Business Download Acquired: The Art of Selling a Business With $10 Million to $100 Million in Revenue If you have any topic or guest suggestions, please email them to podcast@morganandwestfield.com.

In this episode: Faw Casson will close early on August 8 for their annual all-office beach day—a fun family tradition showing the firm's strong culture and appreciation for its people. The One Big Beautiful Bill Act (OBBBA) includes impactful updates for businesses and individuals—this episode dives into the lesser-known but highly relevant changes. C Corporation charitable donations are now subject to a 1% floor—but strategic business advertising can provide a workaround. Bonus depreciation is back at 100%, but with quirky timing: Section 179 may still be a smarter choice for some assets, depending on your purchase date. Business interest expense limitations now revert to using EBITDA instead of EBIT, a favorable shift for many larger companies. The adoption credit becomes refundable (up to $5,000), but only starting with the 2025 tax year. Opportunity zone reinvestment rules are extended and sweetened: You can now defer capital gains for five years and eliminate tax on appreciation if held for 10. The employer-provided child care credit jumps to 40%, with the cap increasing to $500,000—a major incentive for businesses with space to spare. Farmers selling farmland to other farmers can now spread capital gains tax over four years. 529 plans can now be used for more types of education expenses—distribution limit rises from $10,000 to $20,000 starting mid-2025. Several energy credits and deductions are expiring after 2025, including: Clean vehicle credit (for EVs acquired after 9/30/25) Residential solar and geothermal energy credits Home energy improvement deductions (like windows, doors, and water heaters) Wagering loss deductions will be limited to 90% of gambling income starting in 2026—another subtle but impactful change. The firm is offering free educational sessions in August to help business owners prepare for these tax law changes—one in Lewes (Aug 6) and one in Dover (Aug 12), with virtual access available. We're setting sail with two powerhouse guests from the Delaware Division of Small Business—Anastasia Jackson, Kent County Regional Business Manager, and JJ Moore, the Division's newly minted Business Finance Director. Whether you're scribbling your next big idea on a napkin or running a growing company, this episode delivers the kind of insight that turns entrepreneurial dreams into action plans. What Entrepreneurs Will Learn: Where to Begin Your Journey: Discover why the Division's motto, “It Starts With Us,” is more than a slogan—it's a literal roadmap for Delaware's entrepreneurs, from idea-stage to expansion. The Edge Grant 2.0: Learn how this newly enhanced funding program now offers more money, more finalists, and—crucially—free expert support to help you scale wisely, not just quickly. Access to Capital, Reimagined: JJ breaks down Delaware's three underutilized lending programs that provide flexible, low-interest loans—even for startups with little collateral or limited credit history. Unmatched Resources (at Zero Cost): From SizeUp Delaware (a free business analytics tool) to statewide partners like the SBDC, SCORE, and Main Street programs, you'll hear how the Division connects entrepreneurs to powerful support systems. Funding + Knowledge = Success: This episode emphasizes that capital alone doesn't grow a business—strategic guidance, data, and mentorship matter just as much. Collaboration Across Agencies: The Division's connections with tourism, public health, economic development, and supplier diversity efforts give entrepreneurs a true one-stop-shop for support. The Misconceptions: Find out why people often confuse this office with the SBA—and why understanding the difference could open unexpected doors. Whether you're trying to get your idea off the ground or figure out how to fund your next big move, this episode is packed with practical, real-world advice.  Find out more from the Delaware Division of Small Business.   

Collision shop owners exploring succession planning are hearing more about ESOPs—and for good reason. These employee stock ownership plans offer a unique way to create liquidity while keeping the business intact and rewarding the team that helped build it.In this episode, Matt Di Francesco sits down with Steven Golden, ESOP expert and managing director at CSG Partners, to break down what makes these plans so powerful. From Section 1042 tax rollovers to retaining a role in the business post-sale, Steven shares how ESOPs can support a smooth exit and a lasting legacy.Matt and Steven also talk about:(02:09) The core benefits of ESOPs and Section 1042(03:30) Why a C-Corporation structure is essential for ESOPs(05:16) How the ESOP trust and trustee work in the sale process(07:51) Where does the ESOP get its money to buy shares (11:25) The financial complexities and costs of setting up an ESOP(14:55) Are smaller collision shops eligible for ESOPs too?(21:19) Why ESOPs are a win-win for owners and employees(22:35) How employee shares grow and get paid out in retirement(24:53) Addressing ESOP misconceptions and early advice for shop ownersConnect With Steven GoldenWebsite: https://www.csgpartners.com/Phone: 516-680-8276Connect With Matt DiFrancesco:matt@highliftfin.com(814)201-5855LinkedIn: Matt DiFrancescoLinkedIn: High Lift FinancialFacebook: High Lift Financial Instagram: @high_lift_financialYouTube: @highliftfinancialAbout the guest:Steven Golden brings decades of experience in accounting, tax strategy, and employee ownership planning to his role on the investment banking team at CSG Partners. A longtime advisor on CSG-led transactions, Steven now works directly with middle-market companies to implement and optimize ESOP (Employee Stock Ownership Plan) strategies.Before joining CSG in 2022, Steven spent over 25 years at CBIZ MHM, where he served as Managing Director and held various leadership positions. There, he built a national reputation working with high-net-worth individuals, closely held businesses, and public companies specializing in insolvency, estate planning, and ESOP design. He's also served as a trusted expert witness and tax consultant for law firms nationwide.Originally from Buffalo, New York, he has spent much of his professional life in Southern California and now resides in Las Vegas. He is a member of the American Institute of CPAs and remains a respected voice in the ESOP and accounting communities.Disclaimer:All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC.  Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

Key Takeaways: Strategic Compensation Planning: Paying salaries and offering bonuses to owner-employees can be an effective method for extracting funds from a C Corporation while avoiding the burden of double taxation. Tax-Efficient Benefits: Establishing benefits such as health insurance and 401(k) plans not only supports employees but also serves as a powerful tax-saving strategy for business owners. Real Estate Investment Cautions: While corporations can invest in real estate, direct ownership of residential property within a C Corp can lead to unfavorable tax treatment. Careful planning is essential to avoid pitfalls. Leveraging the QSBS Exemption: The Qualified Small Business Stock (QSBS) exemption allows for the exclusion or deferral of capital gains on the sale of qualified stock—an advantageous opportunity for startup founders and early investors. Importance of CPA-Led Exit Planning: Collaborating with a CPA is critical when preparing for a business exit. Proper tax planning can significantly enhance post-sale outcomes by optimizing entity structure, timing, and available deductions.   Chapters: Timestamp Summary 0:00 Strategies for Extracting Business Value Without Excessive Taxes 2:39 Tax Strategies for Extracting Money from a Business 6:08 Tax Strategies for Selling Assets and Bonus Depreciation 7:34 Qualified Small Business Stock Exemption Benefits and Eligibility   Powered by ReiffMartin CPA and Stone Hill Wealth Management   Social Media Handles    Follow Phillip Washington, Jr. on Instagram (@askphillip)   Subscribe to Wealth Building Made Simple newsletter https://www.wealthbuildingmadesimple.us/   Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want. Sign up now, and let's make those dreams happen!   WBMS Premium Subscription   Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Key Takeaways: C Corporations as a Growth Vehicle: C corps offer structural advantages for attracting venture capital and institutional investors, thanks to their capacity to retain earnings and their alignment with long-term investment strategies. Emerging Opportunities via Tokenization: Advancements in blockchain and tokenization may soon allow small businesses to access public markets more efficiently, transforming capital-raising and expansion pathways. Risk Mitigation Through Structure: The C corp framework can help insulate investors from liability and simplify access to both debt and equity financing. Financial Resilience in Volatile Times: Building a strong balance sheet positions businesses to weather economic uncertainty without resorting to drastic measures, supporting long-term stability. Strategic Customization Matters: Aligning legal structure, tax planning, and growth strategy to a company's unique goals enhances sustainability and investor appeal. Chapters: Timestamp Summary 0:00 Using Other People's Money to Grow Your Business 1:33 The Benefits of C Corporations for Venture Capital Investments 3:21 Tokenization Opens New Capital Access for Small Businesses 4:18 C Corporations and Their Role in Business Expansion 6:36 Understanding Retained Earnings and Investment Strategies for C Corporations 8:18 Embracing Volatility for Business Stability and Investor Attraction   Powered by ReiffMartin CPA and Stone Hill Wealth Management   Social Media Handles    Follow Phillip Washington, Jr. on Instagram (@askphillip)   Subscribe to Wealth Building Made Simple newsletter https://www.wealthbuildingmadesimple.us/   Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want. Sign up now, and let's make those dreams happen!   WBMS Premium Subscription   Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

Apple Podcast Description: In this episode of the Inner Edison Podcast, host Ed Parcaut sits down with Jeff Trapp, an experienced tax strategist and founder of Tax Planning Pros. Jeff clarifies the differences between an Enrolled Agent (EA) and a CPA, shares candid stories about his path into the tax field, and offers practical advice for business owners on proactive tax planning. Listen in as Jeff reveals common tax mistakes, the importance of building your personal brand, and key tips for keeping your books in order. Whether you're a solo entrepreneur or a seasoned business owner, this episode is packed with timely insights on saving money, building wealth, and navigating the complex world of taxes. Plus, discover how Jeff overcame setbacks to launch his own successful firm and what you should be asking your accountant to maximize your financial legacy. Learn more about Jeff at taxplanningpros.com and get inspired to take control of your business—and your taxes—today! **Contact Ed Parcaut:** -

The Downside of SAFE Notes Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. SAFE Notes were designed to simplify the investment process. By removing many of the terms found in equity agreements, SAFE Notes reduce the complexity of startup fundraising. SAFE notes are similar to a warrant as they give the holder the right to buy shares in the future. There are drawbacks to SAFE Notes as follows: There's no debt component that can be used for payback. SAFE notes require the holder to have a C-Corporation. The SAFE note is listed on the Cap table like an option. There's no maturity date on SAFE Notes, so there's no trigger to convert equity. There's no interest rate.  Over time, this can add additional value to the investor. Many SAFE notes don't have a valuation cap, which can reduce the value to the holder. The presence of additional SAFE notes can reduce the return through dilution. For early-stage funding, SAFE notes are simple to use, but they don't always convert to equity the way investors thought they would. Be sure to understand the SAFE note structure before using it for an investment.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact info@tencapital.group    Please , share, and leave a review. Music courtesy of .

Key Takeaways: Tax Structure Variations: C Corporations are taxed at the corporate level, unlike S Corps and LLCs, which pass profits and losses directly to their owners. Double Taxation Risk: C Corps face double taxation—once on corporate profits and again when those profits are distributed as dividends to shareholders. Compensation Strategy: Shareholders who are also employees can reduce double taxation by receiving salaries, which are deductible to the corporation. Separate Tax Filings: C Corps file Form 1120, and their profits/losses don't pass through to owners unless distributed. Loss Limitations: Corporate losses stay with the C Corp and cannot offset shareholders' personal income, unlike in pass-through entities. Chapters: Timestamp Summary 0:00 Exploring the Benefits of C Corporations for Entrepreneurs 2:05 Tax Differences Between C Corps, S Corps, and LLCs 4:54 Avoiding Double Taxation Through Strategic Income Distribution 6:08 Understanding C Corp Tax Implications and Shareholder Considerations 8:20 Exploring C Corp Benefits and Strategic Financial Planning   Powered by ReiffMartin CPA and Stone Hill Wealth Management   Social Media Handles    Follow Phillip Washington, Jr. on Instagram (@askphillip)   Subscribe to Wealth Building Made Simple newsletter https://www.wealthbuildingmadesimple.us/   Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want. Sign up now, and let's make those dreams happen!   WBMS Premium Subscription   Phillip Washington, Jr. is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.

What do you do with YEARS and YEARS of unfiled C Corporation Returns? Here is what you need to do! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_Allec

Send us a textPS. Whenever you're ready, here are some ways we can help with reducing your taxes... Ready to slash your tax bill? Schedule your free consultation and let's strategize your tax savings together! Book now at: https://www.prosperlcpa.com/apply Or, if you still need more time, here are some other ways to begin winning the tax game...  Take our free Tax Planning Checklist & learn about what tax savings may be available for you in our minicourse at https://taxplanningchecklist.com  At the very least, get on our newsletter to gain access to free live events and exclusive insight you won't find anywhere else: https://www.prosperlcpa.com/newsletter-subscription Make the most of the available tax strategies for real estate investors and gain access to reliable guidance, expense templates and workpapers with our Essential Tax Planning for Real Estate Investors CourseWe explore powerful tax strategies involving HSAs and HRAs with Dan Pavic to transform medical expenses into significant tax benefits and wealth-building opportunities.• HSAs offer triple tax advantages: tax deduction for contributions, tax-free growth, and tax-free withdrawals for qualified expenses• Health Savings Accounts allow for investment opportunities and unlimited rollovers, making them effective wealth-building tools• Strategic HSA hack: pay medical expenses out-of-pocket, then reimburse yourself years later after funds have grown tax-free• HRAs provide unlimited reimbursement potential versus HSA's $7,000 annual contribution cap• Hiring your spouse creates a pathway for reimbursing family medical expenses through your business• C-Corporations offer unique advantages for health reimbursements due to owner/entity separation• You can combine HSAs and HRAs to maximize both unlimited deductions and tax-free growth• HRAs can serve as affordable alternatives to traditional health insurance for employees• Proper implementation requires formal documentation, compliant reimbursement procedures, and strategic entity structuringLearn more from Dan at: Dan.Pavek@tasconline.comGo to prosperlcpa.com/apply to explore how these strategies could fit your situation or email mark@prosperal.com for access to our upcoming workshop series on maximizing healthcare tax benefits.

Tax season is in full swing, and in this Tax Tuesday episode, Anderson Advisors attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle numerous listener tax questions with practical advice. They discuss the Section 121 exclusion for primary residences, explaining how married couples filing separately can each qualify for the $250,000 capital gains exclusion. They outline strategies for converting personal residences to rental properties using S-corporations and installment sales to maximize tax benefits. Amanda and Eliot clarify 401(k) withdrawal rules, explaining when penalties apply and options like the Rule of 55 and hardship withdrawals. You'll hear recommendations on optimal entity structures for real estate syndications, explanations of the short-term rental "loophole" for active income classification, and when to use trading partnerships versus simple LLCs for investment accounts. The episode concludes with a breakdown of key Tax Cuts and Jobs Act provisions set to expire in 2025, including individual tax brackets, standard deduction changes, child tax credits, and bonus depreciation, highlighting potential impacts for taxpayers.   Submit your tax question to taxtuesday@andersonadvisors.com Highlights/Topics:   "I understand that you can sell your primary residence and receive an exclusion from capital gains taxes on the first $250,000 if you're single and $500,000 if you're married filing jointly. However, I can't find any rules regarding if you're married filing separately. Could you please confirm if married filing separate also qualifies for the exclusion? Also, could you talk about how making improvements adds to the basis?" - Yes, both spouses filing separately can each get the $250,000 exclusion. Only one spouse needs to be on the title, but both must use it as a primary residence for 2 of the last 5 years. Improvements (new floors, additions, HVAC systems) add to your basis, which reduces taxable gain when you sell. "Can I use both cost segregation and bonus depreciation from an S-corp you sell your personal residence to for the Section 121 exemption? Also, what is the accounting treatment if you sold your personal residence to an S-corp using an installment sale?" - Yes to cost seg, no to bonus depreciation (not allowed for related-party transactions). For accounting, record the property as an asset on the S-corp with a liability for the note owed to you personally. You'll recognize all gain in year of sale (which is actually beneficial to utilize the Section 121 exclusion), and interest payments will be recorded as interest income. "Do I have to officially quit my job and be retired to take disbursements from my 401k? At what age can I take disbursements from my 401k? Are there any negative tax implications from taking early disbursements?" - You don't need to quit your job to take distributions if you're 59½ or older, though your specific plan may have different rules. Early withdrawals before 59½ incur a 10% penalty plus ordinary income tax, unless you qualify for exceptions like the Rule of 55 (if you leave your job at 55+) or hardship withdrawals for specific situations. "What is the best entity for tax purposes to invest in real estate syndications?" - A Wyoming LLC (disregarded) or partnership is typically best. This gives liability protection while letting income/losses flow directly to your personal return (important for using passive losses). Avoid S-Corps (reasonable wage requirements) and C-Corps (trap gains/losses on corporate return). "Regarding bonus depreciation and the short-term rental loophole, are either the 500 hours or 100 hours and, more than anyone else, material participation tests prorated for the year? For example, if a property is purchased and put into service in November, those hours would be difficult to achieve." - No, these hours are not prorated. You must meet the full hour requirements between purchase and December 31st. Consider using the "substantially all participation" test if you personally perform nearly all work needed, even if under 100 hours. "If I purchased an investment apartment and repaired windows, floors and incurred other miscellaneous expenses to make it ready for renters, can I write the expense off on my Schedule E? I didn't receive any income for that apartment as of yet." - You can only deduct expenses after the property is "placed in service" (available for rent). If not in service yet, these costs must be added to the property's basis and depreciated. The $2,500 de minimis rule lets you expense (not capitalize) individual purchases under $2,500, but only after the property is in service. "I'm starting to do wholesale investments. I'm still a W-2 employee, yet I will resign soon. Is it recommended that I start my LLC now, and why?" - Yes, start your LLC now for liability protection when entering contracts. Begin with a disregarded LLC in the state where you're wholesaling. Once established and generating consistent income, consider making an S-Corporation election to save on self-employment taxes. "I have a trading account, but I do not actively trade in it. Should I set up a trading partnership for it?" - If you're not actively trading, a simple Wyoming LLC for asset protection is sufficient. For active traders with significant expenses, consider the limited partnership structure with a C-Corporation general partner to shift some income and deduct expenses that aren't allowed on personal returns. Resources: Schedule Your Free Consultation https://andersonadvisors.com/strategy-session/?utm_source=the-best-entity-for-real-estate-syndications-and-maximum-tax-benefits&utm_medium=podcast Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/?utm_source=the-best-entity-for-real-estate-syndications-and-maximum-tax-benefits&utm_medium=podcast Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons YouTube https://www.youtube.com/@ClintCoons  

Send us a textIn the third of a three-part series, Damien Martin and Tony Nitti of EY discuss their top tax cases from 2024, focusing on two C corp cases: Ju et al v. United States and Stead v. Commissioner. Watch the first two parts of the series: Top Tax Cases of 2024, Part 1: PartnershipsTop Tax Cases of 2024, Part 2: S CorporationsFollow us on X:David Stewart: @TaxStewTax Notes: @TaxNotes**This episode is sponsored by the University of California Irvine School of Law Graduate Tax Program. For more information, visit law.uci.edu/gradtax.***CreditsHost: David D. StewartExecutive Producers: Jasper B. Smith, Paige JonesShowrunner: Jordan ParrishVideo Editors: Jordan Parrish, Chris Trigo, Peyton Rhodes

SEND US A TEXT MESSAGE!!! Let Drs. Nii & Renee know what you think about the show!On this episode of “What y'all say Friday” , we start off by sharing what it's like to juggle medicine and parenthood. We actually recorded this episode during our first child-free vacation since our honeymoon. We then answer questions from our listeners on whether our locum tenens business is  incorporated as an S-Corporation or LLC. We shed light on the differences between LLCs, S-Corps, and C-Corps. Tune in for insights, and don't forget to check out our Tax Series episodes linked below! Timeline00:00 Introduction01:43 Our weekend getaway at a resort without the kids.06:35 Shoutout to Mr. Evans at the post office.08:16 Are we incorporated as an S-Corporation or LLC.15:52 The difference between a C-Corporation and an S- Corporation22:18 S-Corp vs. LLC when filing taxes.24:47 Handling your benefits such as 401k, disability insurance, health insurance, as your own employer.FREE DOWNLOAD -  7 Considerations Before Starting Locum Tenens - https://darkos.lpages.co/7-considerations-before-locumsLINKS MENTIONED Tax Benefits of LLCs - How to use a LLC to save Taxes - https://youtu.be/M_VP0rWxDucDisability Insurance, Long-Term Care & Financial Planning Strategies - https://youtu.be/JJpLIj9tVbUQ&A and Suggestions Form - https://forms.clickup.com/9010110533/f/8cgpr25-4614/PEBFZN5LA6FKEIXTWFSend us a Voice Message - https://www.speakpipe.com/docsoutsidetheboxSIGN UP FOR OUR NEWSLETTER! https://darkos.lpages.co/newsletter-signup/ WATCH THIS EPISODE ON YOUTUBE!Have a question for the podcast?Text us at 833-230-2860Twitter: @drniidarkoInstagram: @docsoutsidetheboxEmail: team@drniidarko.comMerch: https://docs-outside-the-box.creator-spring.com

Send us a textThinking about converting your C Corporation to an S Corporation? Before making the switch, do you know about the Built-In Gains (BIG) Tax—and how it could cost you thousands if you don't plan ahead?In this episode, Mike Jesowshek breaks down the Built-In Gains (BIG) Tax, a critical consideration for business owners converting from a C Corporation to an S Corporation. He explains why this tax exists, how it prevents businesses from avoiding double taxation, and the conditions under which it applies. Mike walks through key scenarios where the BIG Tax may or may not apply, how to calculate it, and the best strategies for minimizing or avoiding it. [00:00 - 03:30] Understanding the Built-In Gains (BIG) TaxMike introduces the BIG Tax and its purpose in preventing tax avoidance.What is the difference of taxation for C Corps versus S Corps?Owners need to be aware of BIG Tax before making an S Corp election.[03:31 - 11:15] Calculating the BIG Tax & IRS ConsiderationsMike shares the three key conditions that trigger the BIG Tax.Fair market value vs. adjusted basis determines built-in gains.Mike discusses the step-by-step breakdown of how to calculate the BIG Tax.Proper asset valuation at the time of conversion is critical.[11:16 - 14:00] Strategies to Avoid the BIG TaxHold onto assets for at least five years to bypass taxation.Time asset sales in loss years to offset taxable gains.Utilize NOL (Net Operating Loss) carryovers from the C Corp.[14:01 - 17:32] When the BIG Tax Does NOT Apply and Final ConsiderationsMike shares scenarios where business owners don't have to worry about the BIG Tax.BIG Tax is not a reason to avoid an S Corp election—planning is key.What is the importance of documentation and fair market value assessments?Notable Quotes:“The BIG Tax exists to stop business owners from electing S Corp status right before a liquidation or sale to dodge double taxation.” - Mike Jesowshek, CPA“Holding onto your assets for five years after converting to an S Corp is the simplest way to avoid the Built-In Gains Tax.” - Mike Jesowshek, CPA“The BIG Tax is important to understand, but it's not a reason to avoid an S Corp election. With the right planning, an S Corp is still a powerful tax-saving strategy.” - Mike Jesowshek, CPACheck out this episode's blog post: https://www.taxsavingspodcast.com/blog/beware-of-hidden-built-in-gain-big-taxes-when-transitioning-to-s-corporationClick here to book a demo call or you can visit https://taxelm.com/demo/ ______Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings PodcastJoin TaxElm: https://taxelm.com/-------Podcast Website: https://www.TaxSavingsPodcast.comFacebook Group: https://www.facebook.com/groups/taxsavings/YouTube: www.TaxSavingsTV.com 

Many business owners are overwhelmed by the current marketing hype around S corporations, and it can be confusing to cut through the noise. I explain why, in certain cases, staying with a C corporation might be more beneficial. I also highlight key tax differences between the two corporate structures. From understanding flat corporate tax rates to the implications of double taxation, I break down the essential elements you need to consider. It's crucial to make an informed decision based on your business needs, and I encourage you to use this episode as a starting point for deeper research. Tune in as I clarify common misconceptions and provide actionable insights for your business's financial strategy.   What You'll hear in this episode: [0:25] The Hype Around S Corporations [0:50] Understanding C Corporations [1:30] Tax Implications of C Corporations [5:50] Double Taxation Explained [6:10] Choosing the Right Business Formation [7:50] Investor Considerations   If you like this episode, check out: Why You May Want a C Corp in Your Business Structure Simple S Corp Salary Guide for Beginners S Corp Salary Explained Like a 3rd Grader   Want to learn more so you can earn more?  Visit keepwhatyouearn.com to dive deeper on our episodes  Visit keepwhatyouearncfo.com to work with Shannon and her team  Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/    The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.   

Welcome to this third and final installment of our educational series on structuring business for tax efficiencies.  In the previous sessions, we covered the complexities of C Corporations, including their benefits, drawbacks, and scenarios where they might be appropriate. In this episode, Matt and Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, focus on Buy-Sel Agreements highlighting their importance and addressing common misconceptions. This topic is especially beneficial for business owners working with partners, employees, or family members who are shareholders as they learn a few practical strategies to help protect against unexpected events that could shake up ownership or create challenges for the business. Matt and Stuart also talk about: (01.29) Is succession planning the antithesis of a business owner's strengths? (02:03) What is the Monte Carlo Analysis? (04:41) The question that will help you define your true business value (12:45) Why should business owners have Buy-Sell Agreements? (15:54) Why Stuart is a big proponent of always having a reverse offer (22:55) The agreement that Stuart missed which led to 7 years of litigation (29:51) Two types of insurance business owners must always consider (31:14) The issue with third-party financing (33:12) The one requirement to ensure growth and maximize the value of your business (33:58) Why it is crucial to build a team to help plan for your business's future Connect With Stuart Sorkin Website: https://businessandlegaladvisors.com/ Personal Website: https://stuartsorkin.com/ Phone: (301) 320-1152 Email: info@businessandlegaladvisors.com LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/ Schedule a call with Stuart: https://calendly.com/stuart-sorkin Connect With Matt DiFrancesco: matt@highliftfin.com (814)201-5855 LinkedIn: Matt DiFrancesco LinkedIn: High Lift Financial Facebook: High Lift Financial  Instagram: @high_lift_financial Youtube: @highliftfinancial About the guest: Stuart H. Sorkin is the founder of Business and Legal Advisors, a firm that assists small and mid-size businesses with growth strategies.  With over 40 years of experience as an entrepreneur, CPA, and attorney, he specializes in business entity formation, mergers and acquisitions, tax and estate planning, and asset protection.  He co-authored Expensive Mistakes When Buying & Selling Companies…and How to Avoid Them in Your Deals and has been featured in publications like the Wall Street Journal and USA Today.  Stuart also serves on the Board of Trustees for the Jack R. Anderson Charitable Foundation. He holds a B.S.B.A. in Accounting and Finance, a law degree, and an LL.M. in taxation. Disclaimer: All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here. High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.

In this episode, Dr. Friday explains the tax advantages of C corporations, especially for small businesses. She highlights the 2017 tax law changes that reduced corporate tax rates from 35% to 21%, making C corporations an attractive choice. She also discusses the benefits of investing in small C corporation stocks, which can offer tax-free gains if held for over five years. Tune in to learn how these strategies can help grow your wealth. Transcript: G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment. C corporations. Now, back in 2017, that’s when the tax law came in effect with Donald Trump, and he moved it from like 35% down to 21% tax, which made corporations to be a very viable situation, especially for small business, because it’s considered a small business stock, which means that if you’ve invested in a small C corporation, and you’ve held it for five plus years, and now you sell that stock, you may not pay any taxes on the gain of that stock. There is some wonderful ways of helping to grow your money if you understand how to do it. 615-367-0819. 615-367-0819. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.

Self-employed borrowers who own C-Corporations present unique income analysis challenges. In this episode of Loan Officer Training, we dive deep into the intricacies of evaluating income for C-Corp owners, equipping you with the skills needed to interpret complex financials with confidence.Discover how to navigate corporate tax returns (Form 1120), understand retained earnings, and differentiate between shareholder wages, dividends, and other income sources. We'll discuss how to evaluate C-Corp profitability, review balance sheets for hidden liabilities, and assess trends in business income that can impact loan eligibility. With practical tips on identifying potential red flags and understanding the implications of corporate structures, this episode will help you make more informed lending decisions.Whether you're a seasoned loan officer or expanding your expertise in self-employed income analysis, this episode is packed with actionable insights to help you handle C-Corp borrowers with ease, streamline the underwriting process, and boost your success with self-employed clients. Don't miss this in-depth guide to mastering C-Corp income analysis and adding value to your lending practice!Join The Mortgage Calculator at https://themortgagecalculator.com/joinAbout The Mortgage Calculator:The Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation! Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in jCatch all the episodes of the Loan Officer Training Podcast at https://themortgagecalculator.com/Page/Loan-Officer-Training-Series-Podcast Catch all the episodes of the Loan Officer Training Podcast at https://themortgagecalculator.com/Page/Loan-Officer-Training-Series-PodcastLoan Officers for Unlimited Free Non-QM Leads & Trainings Join The Mortgage Calculator at https://themortgagecalculator.com/joinThe Mortgage Calculator is a licensed Mortgage Lender (NMLS #2377459) that specializes in using technology to enable borrowers to access Conventional, FHA, VA, and USDA Programs, as well as over 5,000 Non-QM mortgage loan programs using alternative income documentation! Using The Mortgage Calculator proprietary technology, borrowers can instantly price and quote thousands of mortgage loan programs in just a few clicks. The Mortgage Calculator technology also enables borrowers to instantly complete a full loan application and upload documents to our AI powered software to get qualified in just minutes! Our team of over 350 licensed Mortgage Loan Originators can assist our customers with Conventional, FHA, VA and USDA mortgages as well as access...

In this episode of The Patti Brennan Show, guest host Eric Fuhrman, our Chief Planning Officer, joins Patti to discuss the Corporate Transparency Act. This is a very important topic as federal law requires certain companies to report information about their beneficial owners to the U.S. government by January 1st, 2025.  Companies that meet specific criteria must file a Beneficial Ownership Information (BOI) Report within the Financial Crimes Enforcement Network (FinCEN). Don't miss out on this episode of The Patti Brennan Show!  

In this episode of The Kelly Roach Show, Kelly dives into year-end tax strategies for business owners with expert insights from tax advisor John Briggs. As the year draws to a close, proactive tax planning becomes essential for entrepreneurs looking to minimize tax burdens and enhance financial benefits. Briggs shares actionable, easy-to-implement tips, covering often-overlooked areas such as reviewing business entity choices, optimizing deductions, and accurately calculating estimated tax payments. This episode highlights the importance of reassessing business structures—whether LLC, S Corporation, or C Corporation—to align more strategically with financial goals. With practical advice on identifying deductible expenses and setting up a tax payment plan to avoid penalties, this discussion equips business owners with the tools to confidently manage year-end tax planning. Book a Call: Get personalized guidance and achieve your goals by booking a call with Kelly Roach: https://kellyroachcoaching.com/book-now/ Check out the Year-End Planning Guide from John Briggs - https://incitetax.com/yekr Get a copy of John's Book: https://33rulebook.com  Connect with John's team: https://incitetax.com/contact/   Also in this episode: Implementing a tax payment plan that includes setting aside a percentage of income regularly can prevent unexpected tax bills and penalties. Utilize available resources, like comprehensive tax guides, to stay informed on current tax laws and strategic actions. Continuously educate yourself on tax strategies and consult with experts to ensure your approach is aligned with both current laws and personal business goals.     Stay Connected With Kelly Roach:  Instagram | LinkedIn | Facebook | Youtube

What Are DAOs For? Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. DAO stands for Distributed Autonomous Organizations. DAOs facilitate people's coordination toward a common goal. DAOs give collective ownership to the members including decision making. A DAO uses Web3 software to provide the coordination, voting, and governance rights of the members. DAOs can be used for many types of goals including social, economic, and political. Here are some example use cases: A DAO can be used as a legal entity instead of an LLC or C-Corporation. A DAO can provide compliance for meeting certain requirements such as environmental standards. A DAO can be used to launch a social initiative to raise people out of poverty. A DAO can be used to create an artistic movement and propagate the creative output of its members. A DAO can be used to create a political action committee to further a group's political agenda. There are many more use cases for DAOs. Consider using a DAO for your next project.   Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let's go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact info@tencapital.group    Please , share, and leave a review. Music courtesy of .

In this enlightening episode, host Roger Knecht sits down with Craig Primo, a FINRA licensed investment banker, to explore the multifaceted process of selling a business. Craig shares invaluable insights into the essential role accountants play in ensuring smooth and successful transactions. Whether you're planning an exit strategy or facing an unexpected sale, this episode is packed with practical advice to help you prepare. Main Themes: The Critical Role of Accountants: Craig and Roger note the importance of maintaining accurate financial records during a sale. They discuss challenges posed by outdated accounting methods during sales. Craig highlights the necessity of GAAP-compliant statements for attracting buyers. Understanding Financial Metrics: Roger and Craig discuss key metrics such as gross profit margins and liquidity ratios. Detailed financial data analysis creates opportunities for accountants in a sale. Enhancing collaboration between accountants and clients to identify growth opportunities and prevent burnout. Debt and Growth: Craig explains how to  leverage debt for business growth versus traditional cash reserves. They discuss the risks of over-leverage and the phenomenon of “zombie companies.” Granular Financial Analysis: Roger offers advice on managing legacy products and shifting focus to more profitable opportunities. They note the role of private equity in identifying inefficiencies. Professionalism in Accounting: They explain the pyramid model of accounting needs based on business size and maturity. Craig emphasizes the need for a transition from growth-focused to structured financial management. Proactive Financial Planning: Craig offers advice on preparing for business exits. Roger highlights strategies for securing loans and avoiding missed opportunities. They break down the differences between LLCs and C Corporations, and the use of Phantom stock for employee retention. Financial Statements and Trends: Analyzing financial statements to understand trends and improve cash flow. Managing receivables, payables, and inventory. Importance of timely bookkeeping and strategic accounting partnerships. Business Sales Scenarios: Unexpected sales and the need for urgent documentation. Proactive preparations for sale. Planning for venture capital with a 3 to 5-year sale timeline. Emotional Challenges in Sales: Emotional factors complicating the sale process, especially in family businesses. Recognizing and addressing emotional challenges to facilitate smooth transitions. Complex Business Transactions: Impact of events like death or family disputes on transactions. Equity distribution disputes and differing valuations. Accountants' role in providing strategic support, timely information, and accurate forecasting. Join us for an in-depth discussion on how to navigate the complexities of selling a business with expert guidance from Craig Primo. Whether you're an entrepreneur or an accountant, this episode offers valuable strategies to ensure a seamless and profitable transition. For more information on how you could broker these complex transactions, call 435-344-4060 to connect with Universal Accounting Center. Sponsors: Universal Accounting Center Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.   Offers: Find & Follow - In Find & Follow, Greg & Jonathan DeVore provide the key to solving the knowledge transfer problem and transforming your business. Don't spend another day wasting your and your team's time relying on tribal knowledge – get a copy now!   Create a Culture of Accountability.  This is a training to help understand and implement clear expectations.  Easy to implement, quick to experience results.  We refer to it as the S.T.A.R. Training program.   Get a FREE copy of these books all accounting professionals should use to work on their business and become profitable.  These are a must-have addition to every accountant's library to provide quality CFO & Advisory services as a Profit & Growth Expert today: “Red to BLACK in 30 days – A small business accountant's guide to QUICK turnarounds” – This is a how-to guide on how to turn around a struggling business into a more sustainable model. Each chapter focuses on a crucial aspect of the turnaround process - from cash flow management to strategies for improving revenue. This book will teach you everything you need to become a turnaround expert for small businesses. “in the BLACK, nine principles to make your business profitable” – Nine Principles to Make Your Business Profitable – Discover what you need to know to run the premier accounting firm and get paid what you are worth in this book, by the same author as Red to Black – CPA Allen B. Bostrom. Bostrom teaches the three major functions of business (marketing, production and accounting) as well as strategies for maximizing profitability for your clients by creating actionable plans to implement the nine principles. “Your Strategic Accountant” - Understand the 3 Core Accounting Services (CAS - Client Accounting Services) you should offer as you run your business. Help your clients understand which numbers they need to know to make more informed business decisions. “Your Profit & Growth Expert” - Your business is an asset. You should know its value and understand how to maximize it. Beginning with the end in mind helps you work ON your business to build a company you can leave so that it can continue to exist in your absence or build wealth as you retire and enjoy the time, freedom, and life you want and deserve. Follow the Turnkey Business plan for accounting professionals.  This is the proven process to start and build the premier accounting firm in your area.  After more than 40 years we've identified the best practices of successful accountants and this is a presentation we are happy to share.     Also learn the best practices to automate and nurture your lead generation process allowing you to get the bookkeeping, accounting and tax clients you deserve.  GO HERE to see this presentation and learn what you can do today to identify and engage with your ideal clients.   Check it out and see what you can do to be in business for yourself but not by yourself with Universal Accounting Center.   It's here you can become a:   Professional Bookkeeper, PB Professional Tax Preparer, PTP Profit & Growth Expert, PGE   Next, join a group of like-minded professionals within the accounting community.  Register to attend GrowCon and Stay up-to-date on current topics and trends and see what you can do to also give back, participating in relevant conversations as they relate to offering quality accounting services and building your bookkeeping, accounting & tax business.   The Accounting & Bookkeeping Tips Facebook Group The Universal Accounting Fanpage Topical Newsletters: Universal Accounting Success The Universal Newsletter   Lastly, get your Business Score to see what you can do to work ON your business and have the Premier Accounting Firm. Join over 70,000 business owners and get your score on the 8 Factors That Drive Your Company's Value.   For Additional FREE Resources for accounting professionals check out this collection HERE!   Be sure to join us for GrowCon, the LIVE event for accounting professionals to work ON their business. This is a conference you don't want to miss.   Remember this, Accounting Success IS Universal. Listen to our next episode and be sure to subscribe.   Also, let us know what you think of the podcast and please share any suggestions you may have.  We look forward to your input: Podcast Feedback   For more information on how you can apply these principles to start and build your accounting, bookkeeping & tax business please visit us at www.universalaccountingschool.com or call us at 8012653777  

September 16th is the filing deadline for S-Corporations and Partnerships that filed for a 6-month extension. In this episode we'll discuss what creates those entities, some options if yours may be late, and a few other nuances to make this week a little easier. Facebook Group For Tax Professionals Facebook Group For Real Estate Investors IRS List of Qualified Disaster Areas Rev-Proc 84-35 Introduction to the September 15th (16th) Deadline[00:00:00] Hello. Hello everyone. And welcome to today's show. So we are only a few days away from the extended deadline for entity tax returns. This deadline specifically applies to pass-through entities, which typically include partnerships and S-Corporations. Normally, this deadline is September 15th, but this year, because the 15th falls on a weekend, the deadline is technically extended to Monday, September 16th. While this is the extended deadline for entities, keep in mind that the extended personal tax return deadline remains October 15th.--- Entities Affected by the Deadline[00:00:37] Today's show is going to focus on the September 15th (16th) deadline—who it applies to, common misconceptions about it, and what your options are if you think you might miss this deadline. To start, this deadline applies to S-Corporations and partnerships, both of which are pass-through entities. These tax returns are typically due on March 15th. However, if you filed for an extension, you were granted an additional six months to file, pushing the deadline to September 15th (or 16th this year). It's important to note that an extension to file does not mean an extension to pay any taxes owed, just like with your personal return.--- Recap: What Are S-Corps and Partnerships?[00:01:18] Let's quickly recap what qualifies as an S-Corporation or a partnership. Many people may not even realize that they have one of these entities. An S-Corporation is either a C Corporation that has elected to be taxed as an S-Corp or an LLC that has chosen to be taxed as an S-Corp. To make this election, you would file Form 2553. You don't need to change your LLC into a corporation first—it's a single step to make this election. On the other hand, partnerships are formed in various ways, but they typically involve more than one person operating the business. Even without a formal entity, if more than one person is involved, you may have created a partnership. ---Understanding Partnerships: Common Situations[00:02:28] The other common type of entity that is affected by this deadline is partnerships. Partnerships can be formed in a variety of ways, but the most common is the general partnership, where more than one person operates a business, even without a formal legal entity. Additionally, any LLC with more than one member (a multi-member LLC) will generally be considered a partnership for tax purposes unless it has made a different tax election. This often surprises people, as they might set up an LLC and add a spouse or a business partner without realizing they've created a partnership, requiring them to file Form 1065, the partnership tax return. For example, if you and a friend create an LLC to invest in real estate and split the proceeds 50/50, you've inadvertently formed a partnership and must file the corresponding tax return.---When a Multi-Member LLC is a Partnership[00:03:31] This situation is particularly common with multi-member LLCs. Often, people will set up an LLC and add their spouse to it, not realizing that in many states, they are now required to file a partnership return. Another frequent scenario occurs when individuals join forces for a small business venture, such as a real estate deal with a friend, where they both list themselves as owners on the LLC. Without knowing it, they've created a partnership and will need to file Form 1065. However, there is an exception for married couples in community property states: if the only members of the LLC are you and your spouse, and you live in a community property state, you may not have to file a partnership return at all. Instead, you might be able to treat the LLC as a disregarded entity.--- Special Considerations for Married Couples in Community Property States[00:04:27] If you are married and live in a community property state, and the only members of your multi-member LLC are you and your spouse, you might be able to treat the LLC as a disregarded entity, avoiding the need to file a partnership return. If you and your spouse are operating a business without any formal entity, you have the option of filing as a qualified joint venture. In this case, you would each report your share of the business income and expenses on separate Schedule C forms as part of your individual tax returns, instead of filing a partnership return. These are a few nuances where you might not be required to file a partnership return, but in most cases, having a multi-member LLC will necessitate filing Form 1065.---Filing Deadline for Entities: March 15th or Extended to September 15th[00:05:00] Remember, if you have an S-Corp or partnership, your tax return is normally due on March 15th. If you file for an extension, you get an additional six months, pushing the deadline to September 15th (or in this year's case, September 16th, since the 15th falls on a weekend). Even if you file for an extension, be aware that this doesn't extend your time to pay any taxes owed. If you haven't filed yet, or if you're not ready, it's crucial to get your return filed as soon as possible to avoid late filing penalties.---Importance of Filing on Time[00:05:16] Even if you don't have the money to pay right now, filing late and paying late is worse than just paying late. You should aim to file your S-Corp or partnership return by the September 16th deadline (or October 15th for personal returns), even if you can't pay what you owe at the moment. Filing late can lead to significant penalties, so it's always better to file on time and pay later if necessary. However, I understand that sometimes these things are unavoidable—whether it's because you didn't realize you had a partnership, forgot to file an extension, or your books aren't ready.--- Solutions for Late Filing: Rev Proc 84-35 (Partnerships Only)[00:06:00] If you think you might miss the deadline for filing your entity return, there are a few potential solutions depending on your circumstances. One option, specifically for partnerships (this does not apply to S-Corporations), is the IRS Rev Proc 84-35. If your partnership qualifies under this procedure, you can request relief from late-filing penalties. The small partnership exception under Rev Proc 84-35 allows penalties to be waived if the partnership meets certain criteria and the late filing was due to reasonable cause.--- Rev Proc 84-35: Criteria for Penalty Relief[00:07:00] Let's go over the criteria to see if you qualify for penalty relief under Rev Proc 84-35. First, your partnership must have no more than 10 partners. Second, all partners must either be individuals or estates of deceased partners—no trusts, LLCs, or corporations as partners. Third, the allocation of income, deductions, and c...

In this conversation, Brian T. Franco interviews Andy Jones from Private Equity Info. They discuss trends in the private equity industry, including the impact of government policies, tax law changes, and the types of acquisitions being made. They also touch on the choice between C Corporations and LLCs and the considerations for companies in light of potential tax law changes. Overall, the conversation provides insights into the current state of the private equity market and the factors influencing investment decisions. Private equity groups are holding investments longer, leading to a shift in the mix of platform versus add-on acquisitions. The longer hold period is influenced by factors such as the need to deploy capital and the perception of less risk in feeding a platform. This trend is seen across various industries, including durable medical equipment, healthcare, and home services. The shift towards smaller acquisitions and add-ons presents opportunities for founders and entrepreneurs to exit their companies at a meaningful valuation. Additionally, private company owners can employ the private equity model by doing bolt-on acquisitions and partnering with firms that specialize in buy-side work. Continue the conversation with Jacob Franco: ⁠⁠⁠⁠⁠Jacob's Calendar⁠⁠⁠⁠⁠ Learn more about Brian Franco by visiting: ⁠⁠⁠⁠⁠Facebook⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠Email Me⁠⁠⁠⁠⁠ Connect with Andy: ⁠⁠⁠⁠⁠⁠LinkedIn

Today, attorneys Toby Mathis, Esq., and Eliot Thomas, Esq., delve into listener questions around topics like borrowing from your QRP (Qualified Retirement Plan) without it being considered income, utilizing depreciation from syndications as a real estate professional, and writing off Airbnb setup costs. Learn how to establish accountable expense reimbursement plans for your C-Corp, handle taxes for disregarded property holding entities, and calculate depreciation post-1031 exchange. Discover efficient strategies for paying kids in your small business and choosing between S-Corp and LLC structures. Simplify the complexities of C-Corp taxes and learn how to invest in real estate via self-directed IRAs without UBIT implications. Submit your tax question to taxtuesday@andersonadvisors.com Highlights/Topics: I am 65. If I borrow $30,000 from my QRP, would that be considered earned income?- No. You have to pay back with interest, but it is not income. As a real estate professional, can I also take the depreciation expense from syndications against my spouse's K-1 income? - Generally yes, if you are a REP, and it's non-passive activity, if there was an overall loss, it can go on your return. Can expenses for building and outfitting an Airbnb spent this year be written off next year when the unit is rented? - yes, but it can only be written off after it has been “placed in service” How do I establish an accountable expense reimbursement plan for my C -Corp and a medical reimbursement plan? - Have a corp meeting, and adopt the plans with documentation of that meeting. If a disregarded property holding entity isn't taxed when our individual property expenses like taxes, insurance maintenance, and depreciation considered for income taxes? - Any income/expenses must be reported, flowing up into your 1040. How do I calculate depreciation after a 1031 exchange? - It's your original property purchase price, plus any improvements, less depreciation. This again is on the original building you had, the one that we're going to relinquish. I want to include my kids as employees for my small business and I want to pay them in a lump sum annually. What would be the most efficient way to structure that? - If they are under 18 there's no employment tax, if you are paying them through a partnership or a disregarded entity. Is it beneficial to be an S-corp or an LLC if making under a certain amount of money? - You want to be in some kind of entity, to protect yourself from lawsuits. What are the tax differences between an S and a C corporation? How hard are a C corporation's taxes to do? - Yeah, so the biggest tax differences between an S and a C then in a synopsis is the S corporation doesn't pay taxes, it passes it to its owners. How can I use my self-directed IRA to invest in real estate deals without being subject to UBIT? - don't buy any real estate with any debt or anything like that and make sure it's a long-term rental, and not a flip. Resources: Schedule Your Free Consultation https://andersonadvisors.com/ss/?utm_source=aba&utm_medium=podcast&utm_content=the-main-tax-differences-between-an-s-corporation-and-c-corporation Tax and Asset Protection Events https://andersonadvisors.com/live-tax-and-asset-protection-workshops/ Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq

Today, Shannon breaks down the key differences between C Corporations and S Corporations, highlighting the advantages and disadvantages of each. She explains how a C Corporation can be beneficial for certain businesses, especially when considering investors and tax strategies. Listeners are encouraged to explore C Corporations as a potential option within their business structure. Join Shannon as she simplifies complex tax concepts and empowers entrepreneurs to make informed financial decisions.   What you'll hear in this episode: 06:32 Optimize entity, design ecosystem, C corp benefits. 07:24 C corporation offers tax advantages over S corporation.   If you like this episode, check out: Why You May Not Want to Start a New Business CFO Q&A - Naming Your Business What Actually Happens If I Commingle Business and Personal Finances?   Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In this week's episode of The Venue Rx podcast, our host Jonathan Aymin sits down with Brandon West, CPA and Co-Owner of 77 Financial Group. They cover the importance of separating funds owed to vendors from taxable income, advocating for the safety of a high-yield savings account over riskier options like stocks or cryptocurrency. Additionally they discuss tax planning and retirement, and touch on the needs of venue owners considering succession and what that planning process entails.  About Our Guest:  Brandon West is a certified CPA based in California, specializing in tax matters for individuals and small businesses. He earned his degrees in Accounting and Finance from Point Loma Nazarene University. Initially, Brandon gained valuable experience at CBIZ, one of the nation's top ten accounting firms. However, driven by a desire for more direct client engagement and business development opportunities, he established his own practice. Today, Brandon's clientele spans across 8 states and encompasses individuals, LLCs, S Corporations, C Corporations, and Sole Proprietorships. He is deeply passionate about supporting his clients' growth journeys, offering expert guidance through the intricate landscape of tax regulations. Find Him Here:  Email: brandon@77financialgroup.com Website: https://www.77financialgroup.com/ Instagram: https://www.instagram.com/77financialgroup/ Linkedin: https://www.linkedin.com/in/brandon-west-0814a686/ Podcast: https://open.spotify.com/show/5WdL2X4ShOSn7YrnmwOECT?si=53c44c9571324638

In the UK you've got four countries that make up the United Kingdom, governed by HMRC. In the US, you've got 50 little governments that reside under that umbrella. They each have autonomous authority to set their own rules, and that's where we see people stumble the most. Christy Waskobojnik is a tax advisor specializing in US-UK cross-border matters, and head of business development for DYUSA, a tax and accounting firm. This week's Ask An Expert with Christy focuses on advice for business owners thinking of starting up in the US. The three key takeaways from this episode: Understanding State Complexity: Each state has its own set of rules regarding taxation, employment, and business operations. Christy emphasizes the importance of understanding these nuances early on to avoid compliance issues and unnecessary penalties.Choosing the Right Business Structure: Many UK businesses mistakenly choose an LLC when expanding to the US, unaware of the potential tax implications. Christy advises that a C Corporation, owned by a UK Limited entity, is often the best structure. This setup allows businesses to efficiently navigate the tax systems of both countries, leveraging the US-UK tax treaty to avoid double taxation and maximize tax benefits.The Importance of Cross-Border Expertise: Seek advice from someone with specific cross-border experience. General advice from domestic accountants or incomplete research can lead businesses into complicated tax situations, costly penalties, and operational headaches. Early engagement with cross-border tax advisors can save businesses from these pitfalls and provide a smoother expansion process into the US market.Always an Expat is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas.

In our latest episode, "It's The Bottom Line That Matters - Titles," we delved into the significance of job titles in the business world. From CEOs to visionary founders, the impact of titles on how the world perceives you is an intriguing topic worth exploring. We discussed how certain titles can carry weight and influence how you are perceived by prospects and partners. Whether you choose a traditional title like CEO or opt for a more creative designation like "Maestro of Business," the title you adopt can shape expectations and influence business relationships. Our hosts Jennifer, Daniel, and Patricia shared their insights on titles and how they affect their own businesses. Patricia, for example, is exploring the implications of being a Chief Visionary Officer as she navigates the early stages of her startup. We also examined the story of a company director who intentionally portrayed himself as such, instead of as the CEO, to lessen perceived pressure in business dealings. This sparked an intriguing discussion on the power of perception management and the impact of titles, no matter the size of your business. Daniel's comparison of job titles to the hierarchy in Star Trek was not only fun but also thought-provoking. It emphasized the leveling effect that titles can have, aligning with the "perks" and expectations that come with them. The episode also highlighted the value of aligning your titles with the expectations and needs of your prospects and customers to foster stronger connections. So, whether you're defining your own title, considering a change, or navigating the significance of titles in business relationships, this episode is a must-listen. Stay tuned for our next thought-provoking discussions on the It's The Bottom Line That Matters podcast. And remember, when it comes to titles, it's the bottom line that truly matters in the business world. Keywords: CEO, President, Director, Vice President, Founder, Managing Partner, Managing Member, Chief Visionary Officer, Maestro of Business, Visionary, Business structure, Skill sets, Corporate structure, Perception management, C Corporation, Entrepreneurship, Entrepreneurial titles, Business card titles, Goldman Sachs 10,000 Business Program, Enterprise resource planning, CEO duties, Leadership, Sales conversations, Formal titles, Informal titles, Board of advisors, Corporate hierarchy, Corporate titles, Prospects and partners, Relationship management, LinkedIn, FoundersCard

Discover the intriguing world of C corporations in this eye-opening episode. Host [Your Name] navigates the complexities of business entity structures, debunking myths and revealing surprising truths. Dive into the 21% tax rate allure, but beware the potential pitfalls of double taxation and equity entanglements. Uncover strategies to leverage C corporations for tax advantages and smoother cash flows. Explore the tantalizing IRS Section 1202 exclusion and its game-changing implications for future business sales. With expert insights and real-world examples, this episode empowers seasoned business owners to make informed decisions and maximize financial potential. Don't miss out—tune in now to unlock the secrets of C corporations and revolutionize your business strategy.   Next Steps: ☎️ Find out how much you're overpaying in taxes every year!  Schedule a FREE discovery call to find out --> https://phillipsbusinessgroup.com/

In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen delve deep into the challenges and opportunities of running a farming operation. They provide their expert insights on eight distinct, yet interconnected, farming strategies that can help both budding and seasoned farmers.Here's what you can look forward to:A detailed examination of the S Corporation strategy, highlighting how it can enhance tax efficiency and profitability in farming operations.An exploration of asset protection strategies, focusing on the balance between operations and assets, and the importance of maintaining a proper business structure.In-depth advice on how to navigate the tricky situation of a C Corporation, offering practical steps to transition to a more efficient structure.A discussion on the common pitfall of overbuying equipment that farmers often fall into, with tips on how to make smarter investment decisions.Insights into the challenge of being "land rich and cash poor," emphasizing the importance of diversifying investments and ensuring cash flow security.Guidance on maintaining your entities and having a board of directors or board of advisors within your family to oversee the business.An overview of estate planning related to farm transition, stressing the need for a clear and comprehensive plan.Advice on farm succession planning and the importance of training the next generation and planning for the future of the farm.This episode is a must-listen for anyone involved in the farming industry, interested in asset protection, tax-saving strategies, and those planning for the future of their farming business. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

In this episode, Eric and Drew chop it up on their Super Bowl LVIII predictions. This is the first time the ‘big game' will be played in Las Vegas, and the odds are that all aspects of this event will be exciting…. from the team match up, to the half-time show, to the commercials. In a pivot to business, Eric explains the differences between S Corporations and C Corporations. And while the NFL football season is coming to an end, tax season is just beginning. Don't go it alone. Consider hiring a tax specialist. Eric and his firm can help you. Thanks for checking out Sports Gumbo. Follow us on social media and where ever you get your podcasts.  Until next time….

In this episode, we dive into the topic of taking money out of your business. Shannon breaks down the complexities of taking money out of different types of businesses - from single-member LLCs to S Corporations, Partnerships, and C Corporations. Shannon explains the implications of taking money out of your business, the importance of managing cash flow, and how to pay yourself in ways that minimize tax implications. Tune in to gain valuable insights and actionable tips for managing the financial side of your business.   What you'll hear in this episode: 03:34 IRS taxes all income, plan withdrawals wisely. 07:47 Determining reasonable salary for entrepreneurs is ambiguous. 12:50 Consider unequal distributions and guaranteed payments in partnerships. 14:15 Trainer seeks extra payment for unequal business work. 17:20 C corporation tax implications and payment considerations.   If you like this episode, check out: How Publishing a Book Affects Your Taxes Decoding the Messages in Your Numbers What Your Numbers Are Trying to Tell You   Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.  

Today I want to tell you about our sponsor for this episode,  Olsen  Dental  Chairs!‍‍Imagine you're a dentist and you spend your whole day around the chair...   Well, Olsen has over  40 years of experience in making those long hours as comfortable as possible for both the dentist  and the patient! ‍If you're a dental professional looking for high quality, cost effective, dental equipment, check out Olson dental chairs!Click this link and mention this episode for a limited time FREE installation with your purchase!‍Guest: Rhonda KalashoPractice Name: TruGlow Mordern DentalCheck out Rhonda's Media:Practice Website: https://glomoderndental.com/Email: rhondakalasho@glomoderndental.comInstagram: https://www.instagram.com/dr.rhondakalasho/Facebook: https://www.facebook.com/dr.rhondakalasho‍Other Mentions and Links:‍Tools/Resources:HubSpotHubSpothttps://www.googleadservices.com/pagead/aclk?sa=L&ai=DChcSEwjjuryZn42DAxXKB60GHWZzBfYYABAAGgJwdg&ase=2&gclid=Cj0KCQiAyeWrBhDDARIsAGP1mWSmA-wnuIpk3AgrP6Q4LOTx7tZpTWkt9X_vnRvjxA6TpHggzdgGerIaAoxFEALw_wcB&ei=6xJ6ZaSIDeGC0PEP-5GPaA&ohost=www.google.com&cid=CAESV-D2LJrATp36pfi4qgGRCTKgaEIqiHzgIfDNWGIzDXafM7fx84q8a9o3MfxOBrhzqXvVlJtKltzCsaJOIqike632B7HWKepVIukxm2wCNCtob28pZUpKag&sig=AOD64_0lSViVPzY6D95mLKOsmbn2Bwj18A&q&sqi=2&nis=4&adurl&ved=2ahUKEwjkqbaZn42DAxVhATQIHfvIAw0Q0Qx6BAgJEAETrainualPearl (AI software)TurboTaxGoogle AdsCompanies/Brands:BBCMSNBCForbesZocDocInvisalignTerms:HMOMedi-CalROI - Return on InvestmentEBITDA - Earnings Before Interest, Taxes, Depreciation, and AmortizationWet DentistryOL - Oral LeukoplakiaAI - Artificial IntelligenceSEO - Search Engine OptimizationPPC AdsLLC - Limited Liability CompanyS CorporationC CorporationW-2CavitronPiezoLocations/Establishments:UCLAUCSD‍Host: Michael Arias‍Website: The Dental Marketer Join my newsletter: https://thedentalmarketer.lpages.co/newsletter/‍Join this podcast's Facebook Group: The Dental Marketer Society‍‍What You'll Learn in This Episode:Dr. Kalasho's journey from graduate to successful entrepreneur owning multiple dental practices.Understanding contracts and the importance of developing sound business acumen.Insights into partnerships and dental practice acquisitions.Using dental insurance as a financial safeguard while maintaining quality care.Implementing AI in dental practices: from patient care to insurance dealings.The role of tax planning and smart investments in building wealth.Please don't forget to share with us on Instagram when you are listening to the podcast AND if you are really wanting to show us love, then please leave a 5 star review on iTunes! [Click here to leave a review on iTunes]‍p.s. Some links are affiliate links, which means that if you choose to make a purchase, I will earn a commission. This commission comes at no additional cost to you. Please understand that we have experience with these products/ company, and I recommend them because they are helpful and useful, not because of the small commissions we make if you decide to buy something. Please do not spend any money unless you feel you need them or that they will help you with your goals.‍Episode Transcript (Auto-Generated - Please Excuse Errors)Michael: All right. It's time to talk with our featured guest, Dr. Rhonda Kalasho. How's it Rhonda: going? Great. Excellent. I'm in Los Angeles. How can I, how can I fight this weather? We got sun. Michael: I know we got, sun yesterday Rhonda: Yeah. Oh yeah. You're, You're not far. got rain ever. There was car accidents everywhere. Cause nobody knows what to do. Yeah. Car accidents everywhere. Exactly. There's traffic. There's like a little splatter of rain and suddenly we don't have driver's license. Did it rain a lot in San Diego or no?Yeah. It rained a lot. It rained a lot. My parents live out there. I live in Los Angeles, but I mean, we had a lot of rain yesterday, but we love it. I love it. I eat it Michael: up. like a nice change of pace of everything. We all feel like we, what do we do? We got to shut down and everything like Rhonda: that.I'm that person that puts up the Christmas decorations the day after Halloween. So now it matches the weather. Michael: That's awesome. So if you can tell us a little bit about your past, your present, how'd you get to where you are Rhonda: today? Yeah, absolutely. I own, uh, multiple practices under one brand called True Glow Modern Dental.Uh, I did end up owning, uh, an HMO practice straight out of residency, which I loved a lot, but, uh, I ended up, it was a partnership that didn't go well. And it's because I didn't really understand contracts at the time and, So I ended up, uh, just selling my shares of that and then purchasing my first office in Hollywood, in 2018, in 2020 I opened up my, uh, Beverly Hills location and now I'm opening up my Calabasas location. I'm pretty busy right now. I have two little ones at home. But what got me into practice ownership is, uh, I really thought that there was a market deficit in dentistry where it's essentially affordable care, but also at the same time, high quality. and I wanted to utilize some of my business background because I was an undergrad as an undergrad major, I was a business administration, major.And then I picked up some of the prereqs before UCLA to finish up. To get into dental school, but I had a good business acumen before I began my dental journey. And I knew that there was, a really great market for potential of membership style dental offices, which don't operate like an insurance, but more like how you would see traditional memberships, businesses operating where you have a fixed monthly amount, and then you are given, Reduce fees or whatever for a service.And so we were able to do that. Um, I also own my own dental laboratory. So my costs are, fixed in a way where I can produce high quality care, but at the same time, affordably for my patients as well. so we're, uh, kind of a niche brand of dentistry. we do have patients that still come in with insurance.We concierge bill their insurance and the patient gets billed or gets paid directly. Um, that's part of my brand. I just wanted to grow and develop this, business perspective that I had even as an undergrad. and now, lo and behold, I actually really love dentistry. I'm still a wet handed dentist, so I do practice all the time. and you can see that on my Instagram page. I do some, uh, pretty crazy video, full mouth rehab cases. I learned that at my residency, which I did at UCSD. And I recommend everybody actually do a residency. Super important. All my, colleagues and associates that work under our brand have done residencies. that's what got me here. I love. Not only the practice of dentistry, but the business, of dentistry as well. Michael: Nice. Okay. So it's good. Let's rewind a little bit. You said you immediately out of residency, you jumped into practice ownership. You owned HMO. Crazy me. Yeah. Why, Why did you do that?Well, I Rhonda: did go into, office kind of thing a little bit. I did that for like two months and it just didn't fit my style. I wanted certain equipment, I wanted certain things when I would work and it was just the bare bones. I remember being asked to do endo without a rubber dam and without all of a sudden it was just like, I was just kind of.Especially when you're out of dental school you're, you're kind of still into the standard of care and you're really wanting to make sure that you're practicing that as such. And I remember the corporate setting was very much a patient push and making sure that they finish the treatment, make sure that they get the treatment done, make sure that you hit your quotas and all that.And it's all respectable. That's fine. Everybody needs to be aware of numbers, but it became more of less. Quality of and more of just pushing dental treatment out. Um, I quickly ran away from that, but found a great office that I liked a lot. They did accept HMOs and HMO style Cal office. was nice and you can still be very profitable in that market. It's not like you need to be all fee for service to be profitable as a medical or HMO dental practice. It's just a different practice setting. but they're still very profitable practices. And so if people are out there looking at maybe buying in or buying, only a fee for service office.Fee for service offices are incredibly difficult to maintain and hold because as soon as a patient gets insurance, they may leave you, um, as opposed to an insurance based practice, even in the worst times of economic issues But for fee for service, you may find that if you're just collecting free for service, you'll have a lot of waxing and waning of the times and then you'll have these tides of Being really busy and then not being really busy.and that could be really detrimental, but I got into the HMO practice, and then I was offered a partnership, um, because I expressed actually my, my goal of practice ownership. So that's how I got in so quickly. Um, so I, expressed that during my business, meetings with them that I wanted to get involved in as being a practice owner.Um, so I quickly got into that. but the, the way that it was laid out was of course, I just kind of went and read the contract myself. I didn't have a lawyer read it over. I didn't. And so what ended up happening at the end is I put a lot of my own equity in it, but didn't get a good return.and that's a pro, I mean, I always. Call my career as a, constant trajectory of falling forward because I'm constantly making mistakes. And I don't know everything that I'm doing every day. That is a hundred percent. This is the right way of doing it, but a part of building yourself as a professional and an entrepreneur is making mistakes and being okay with that, but you have to learn and learn why it was done and not reproduce the same mistakes.Michael: Interesting. Okay. And it's interesting your, point on fee for service and insurance. I feel like right now, a lot of the practices we're trying to kind of transition out of insurance, right? We're saying, Hey, I want to drop all that because I can't, you know, they're, judging our, work, when we do that.But when it comes to the other way around, how you mentioned it, Hey, if you start off fee for, so what do you recommend Rhonda? lot of the times we want to just start off hitting the ground running fee for service, and a lot of the times. Some people recommend, hey, get some assurances, then slowly drop them off.And then completely go fee for service. Rhonda: Yeah. Absolutely. I think if you build it, they will come depending on how you're going to build it. If you want to build it as a fee for service practice, you may want to just stick to it. It does create a fire under your butt to make sure that you're keeping your practice going.Because if you kind of get into this. The cushion of insurance and insurance does offer cushion, although sometimes we deem them as being, subpar and they're not paying us or reimbursing as well at the end of the day. if it is an 800 crown, if you're taking two hours to do that, yeah, that's.And this is for the new dentists. your, your chair time should be a thousand dollars an hour. If that's what you want to see it as. And that's just basic, right? Like just if you think about how much you're going to have to spend in overhead, dental overhead is incredibly expensive because hygienists get paid a lot.Dental office managers get paid a lot. Dental assistants nowadays, especially in Los Angeles, their average salary is 23 an hour. That's average. So that's a lot. And by the way, they're very accustomed to getting, full benefits. So they do have our, in our practices, they have health insurance, they have gym memberships.They have a lot of stuff that, that is given. 401ks. They have dependents that can get health insurance in our practice. We run it like a corporation and people are very accustomed to that. Even if you're a small dental office, you have to offer these kinds of things. So to that, you have to say that the overhead clearly is very expensive and a lot of your, third party payers, like your dental laboratory is a cost.And the equipment and supplies is also a cost. So yeah, insurance paying you 800 is very low, but if you are, able to do a very nice quality prep, remove all the decay and all that in like 30 minutes, it's not that bad. And that's better than making, not making no money in that time.there is a misconception also that. being really busy means that you are making more money. And those sometimes those HMO practices who are super, super busy, they're pumping out patients left and right. At the end of the day, the fee for service person who saw two patients as opposed to 15 patients is still making the same amount.So it doesn't mean that you have to be very busy, but you just have to create this niche brand or a market for someone to want to pay a fee for service as opposed to going out with insurance. But if you're going to do insurance, a couple things it's good to build the practice, with insurance, if you have nothing there, but if your intention is to drop those insurances, then maybe not sign up for a lot of them because a lot of the times patients will.Leave you as much as you are a great dentist and all of us love to pat ourselves on the backs and they'll go, we're so amazing. No, one's going to leave us, but I'll tell you, they'll leave you so fast. So as soon as you tell them, okay, so your copay is not 300 anymore, you gotta pay 2, 500 for this crown.They're going to run like the wind, right? So like they're going to go to, they'll look to Yelp or something and try to get. Something better, but I'm saying that they're what you have to understand is if you're going to be a fee for service office, you have to provide a service that is very much, reflective of the amount you're asking this person to pay.So you have for every beck and call, you have to offer 24 hour concierge service. You have to talk to them. you have to understand these people, 2, 500 for a lot of people for many people is a lot of money. And that's one crown, right? So if you're going to offer this kind of service to them and your fee for service and not offering any other benefits to them, even if it's payments that you're offering, they are paying this whole dollar amount rather than going through their insurance, which may be paid through their employer.So you have to create your business models are completely different. So you have to be okay with it. You can meet the same bottom line. You can meet the same profits, but when your HMO got to go faster, you got to move faster. You can't just dilly dally, talk to the patients too long, blah, blah, blah. But you also need to treat them like people.It's very important. People also don't want to be treated like cattle, right? they're still paying whatever they're paying for that. So they're going to come in and they want to be respected in the time, but you have to be mindful of your time if you're doing HMO and even PPO.But even PPO insurances don't pay well either, some of them do, some of them pay well, but you still have to. Make sure that you are being aware of you almost have a calculator in your head that your should not be wasted because the overhead is too much and you'll find yourself in a very bad zone your PNL statements where you're seeing your profits kind of dwindle.So just making sure that you're aware of that and speed it up if you're HMO PPO fee for service you can kind of create a little bit more of a pampering effect. Yeah. Michael: Interesting. So then, fee for service, like you said, pampering effect, HMO, or like Medi Cal, right? You'd really, or not Medi Cal, you'd really have to hone in on your efficiency.Oh, yeah, Rhonda: especially when they're first out of dental school, like you got, I remember three hours to do a crown nowhere in private practice is three hours for a crown going to be efficient for anybody, like anybody, not the practice, not the patient. The patient's experience is going to suddenly start to, I remember numbing the patient so many times in dental school because it would fade.I would like, you know, and then they're like, ah, they're constantly moving. It's, It's just, you don't want to. You have to make sure that their experience and what they're feeling in that moment, all that is always in your mind. And this is, that's why dentistry is so hard. You're like a psychologist.You're like a business owner. You're like their friend, but then also their doctor. And then you're sitting with multiple hats and still trying to work. in a kind of a bloody messy environment and work at the millimeter, you know, like, so is a tough job, but it's a, it's also one of the best fields, to be in.Michael: Yeah. Yeah. Interesting. Okay. So then if we fast forward a little bit more, you talked about your partnership, how it did not go well. and you mentioned that you put a lot of equity, but you didn't get a good ROI out of it. Right. Specifically, where did you feel like you missed the mark? Where you're like, yeah, if I would have seen that and you want to kind of give us advice or warn us about that.Rhonda: Yeah. I think I wouldn't, what ended up happening is it was. I was the only one working there. Okay. So there was nobody else there. And so as I was building up this practice and bringing in all the things that I have done for my own brand, I was, buying dental equipment.And leasing it out under my name and doing all this others and not under the corporation and not under the partnership. It was only for me. I was putting in all this dollars, all this money marketing was spent through me. I started my own Instagram page. I started the own Facebook page. I was doing so much and then bringing up this practice and its value.And then when I was, uh, told to. Buy in, I was bought in at the practice value that I brought in. Right. so I put in the money and then bought myself back. Right. And so It didn't work when I got paid out because I got paid out before the money I put in.So it was, I had built it up to what it was and it was just the way that it was laid out. It was really laid out in an unfair way. definitely just kind of taking advantage of a person just. That is maybe not of the nuances of contracts, especially between partners, but just as a pearl to people is that you have to make sure that you have a lawyer reading any agreement that you sign and that they can kind of give you the ins and outs of that and understand that even, you know, you're going to Google and all that kind of stuff.it may be true because especially when you're first out of school, you don't have a lot of money to hire a lawyer or somebody to help you out with that. But even if you have maybe family member that may help you out for your charge to read some of the contracts is going to help. I just got a little, you know, I got a little too pompous and said, Oh, this is, it sounds great.I can have 40 percent ownership and you never get really majority, but, uh, no, I didn't have, I actually had 11%. but I'm saying that sometimes it could be offered You're never really going to be offered a majority. Anybody who owns a practice should not give actually majority.To a colleague or an associate, this is still your baby. This is still your brand and your corporation. you don't want to give a majority because you still want to hold, a lot of the, um, the voting rights and all that would fall ultimately onto you. You don't want your brand to be carried on by someone else, if you want somebody invested.Into your practice because you never wash rental car, right? And you never put glass in a rental car. You kind of just give it to them as all beat up. But if somebody is going to invest in your practice and they've been with you for many years, giving them some sort of equity or practice ownership in the practice itself or in the corporation is actually a great idea. but, uh, they have to also be vested with you, uh, financially and in time, both monetarily and in time. Michael: Okay. Gotcha. Interesting. So then right after that, you decided, all right, let's see, I'm going to start my own thing or were you, you worked for a private, right? You worked for a private practice?I worked for Rhonda: a private practice, uh, for a little bit, maybe like two months. And then I did for like another three, all together, maybe six months after graduating, I, uh, ended up getting into this partnership. but then as soon as my partnership was settled out and I got whatever I could get out of it, I used that money to buy a practice that wasn't doing well at all.It was actually a bankrupt practice, a beautiful location, what I noticed about that practice is they had a really. Robust hygiene department, their patients were coming in regularly. They were seeing about, you know, six patients a day in hygiene and they had four hygiene days. but I noticed the doctor's schedule was dead because the doctor wasn't there.So they had this essentially just a sitting body of water it's like, well, if you have a good hygiene department, there's no reason why a restorative. section of that practice should not be thriving as well because those patients are coming in regularly. You should be doing exams.You should be following up with their care, but they were just coming in for cleanings and then just being off on their way and coming back in another six months. But was no doctor to sometimes even treatment plan them in that day. It's because that just that doctor does. Felt like dentistry was not for them.they didn't like practice ownership at all. And, um, I, at that time had met a broker at a convention at the CDA conference. And he was, uh, like, you know, kind of kept in contact with me, gave me all these, uh, potential offices. This one was just cheap because of its, uh, you know, annual, salary that it was receiving and it's was very low.Or even it wasn't, wasn't good at all, but it was a practice that I could buy relatively dirt cheap. And, but when I got in there, they had carpet, hate carpet in a dental office. If you guys have it, maybe get rid of it, but. it's so gross.Okay. But, but the, the lobby, I remember the chairs are like these dental, these like not dental school. They were like school, like schoolyard chairs. And then they were like propped up by magazines and, um, the front desk person didn't even acknowledge when I walked in there and it was like, just like the walls were blue.It was just like such a. ugly thing. But I, had a vision and I had a goal in mind. I wanted to buy a practice. So this was for all intents and purposes, a great find. It had a great hygiene department. It needed a pick me up. and it's slowly, but surely over the years. And I went from, uh, that office 2018 to 2020 in the middle of a pandemic opening another one.So it's fully doable to ramp up even a shitty practice, but you can still ramp it up if you have the vision in mind there. But so it was considered an acquisition, there's build outs and there's an acquisition. that one was an acquisition because it was still owned by someone.But When I got in there, you have an option of actually keeping on the staff or you can, find new ones, right? Or you don't have to keep everybody on when you actually find yourself on the first day of an acquisition, you present everybody there with a letter. And generally they're not knowledgeable that the practice was even being sold. that's common practice, uh, that. we don't spook people out, right? When sometimes when even patients hear that there is a new practice that's coming in or owner that's coming in, they may leave you're acquiring a practice, a lot of the times they don't inform them until the practice is acquired and then you can send out a bunch of, emails or letters out to the patient and then to the staff.So in my case, when I came in, I was not in love with the staff. I didn't like. That the front person didn't acknowledge that I was there, didn't even look up from her computer. I didn't like that the hygienist, uh, was not using cavitrons or was just basically using prophy cups. It wasn't like scaling or any of that.I ended up just firing everybody and starting fresh. again I had a vision of someone when you walk the room, they're bubbly, they're happy. They are the first introduction to your practice before they even, even on the phone, you can hear them. You know, you want somebody that is going to drive in patients and that.really somber person in the front plays a damper on the mood everywhere. It's like, try to DMV. Do you, everyone look happy? No, it's like you just, everyone's pissed because the person in the front is not the Walmart reader. Like I walk in and I love it. Right. I'm like, yeah, we're here. Okay. Like that's right.Yeah. You're at a shop. Like That's what you want. And what I felt like this is definitely a branding issue. And when you're building a brand, this is stuff that you have to think about. You have to think about the smell. You have to think about the sights. You have to think about the colors.These are all very much, uh, part of even dentistry, because dentistry is a small little business. So you have to know, you can't just pop in with ugly carpet and propped up, uh, chairs. Michael: Yeah, it's interesting that you did that though, because I guess like advise, it's like, yeah, you know, here's the thing.When you do an acquisition, a lot of the times the team may feel betrayed by their original doctor and saying, how come you didn't let us know this, we've been with you forever. We would have understood this. Right. so there's that trust that kind of like deteriorates. Then they kind of start having the fear, like, oh my gosh.Who's this doctor? Who's this young doctor? I know more than her, right? Especially those older office managers. Like they're like, Oh no, no, no, no, sweetie, please can tell you how to do this. Right. And then they try to run it. But letting go everybody at once, how'd you do that? or could you have coached anybody like, cause the hygienist sounded like they were still really good cause they were keeping people on.Rhonda: Yeah. so, for the front person, honestly, I just felt like she didn't even their AR reports cause you do a due diligence on the practice when you're acquiring it their. AR, which is accounts receivable, was very high. So they were collecting zero copay and just kind of letting the person know.I mean, I did, I'll say this, I did give them a chance, right? Like talking to them, um, about maybe collecting copays before the patient comes in, talking about deposits and immediately they shut it down. If someone is not on. your same mindscape and they're not, actually thinking on your level and that they want to build this practice, they're going to be a plague on the practice.So you should immediately just squash it, right? Because if that person is not like. Excited. Oh yeah. There's a new person here with all this energy wants to ramp it up and they're feeling it. They're like, yeah, okay, let's do it. Yeah, we definitely. there, and when you bring up, a report to someone cause I remember sitting next to this, the front office person was also there.It wasn't, she didn't have an office manager. It was a very small skeleton practice. Actually it had no dental assistant. Um, so the person in the front actually, uh, worked as the dental assistant and the person in the front. So I wouldn't say I fired, but everybody, I mean, there wasn't really much of anybody.There was an associate that popped up and did like an OL every 10 months, right? Um, like, which is a. You guys all know dental ever. You're on. Well, like a little tiny filling like every day and then didn't even take out all the amalgam. It was just like, I don't know what the hell I was looking at, but it didn't have a huge, practice.It wasn't like I fired 11 people. I fired three people that were unnecessary. Right. That didn't meet the. And then when I, if I talked to the hygienist and I told, you know, look at the, there are studies on. arrest in their studies on laser. Do you? I'm going to pay for you to take some of these courses. I want you to learn how to do a laser debridement.I want you to use the air polisher or whatever, all these other things that you can provide rather than a prophy cup. Maybe just learn how to scale a little bit, right? Because there's all this plasma this person's tooth. Use the cabotron, use the piezo. And oh, you know, I don't know, you know, I'm really good with this tool and literally how it holds one tool for every surface of the tooth.And it's like, okay, if you're not ready, To change and be part of this, essentially look at where we are now. I had a goal in mind, right? If you weren't ready to hop on my back and I, and fly with me, I'm going to leave you on the ground. You're done. Right? Because then you're going to be a plague on my practice.You're going to be a splinter and I can't move on. Right. I can't get to where I need to be. if you're trying to get from here to there with the same people it's not going to happen. And even when you get to there, you grow, you get more people So my practice has grown significantly from those three people I fired.I now I'm 50 employees deep, right? And every one of them is very much attuned to our mission and our practice philosophy. And we, we really spend a lot of time in making sure that everyone is on the same page. Michael: Okay. So that's interesting. That's really, really good then. So. I know you mentioned that, oh, how long have you been in practice Rhonda: ownership for?Uh, 2018. Michael: How many years? 18, 19, 20, 21, 22, 23, 24, 25. Five? Five years. Five years. Man, how many practices do you have currently? Like working and running? Rhonda: Uh, now three. Yeah. Three. Los Angeles. Los Angeles. No. Oh, well, Beverly Hills. They're all in Los Angeles. So I just stick in this area. Um, they're Hollywood, Beverly Hills, and Calabasas.Jeez. Michael: And that's such a saturated. So how did you do it? Why? here? Like Rhonda: why? I like torture. It's nice. It was, It was terrible. Yes. You said saturated. Absolutely. In my building alone on the same floor, I have four dentists. Michael: Yeah. It was great. So then me ask you, why did you decide to do that? How did you make it grow so much so fast to where you're like, we're three and I think you're on another build out, you said, right?Rhonda: I'm on another build out and then, yeah, I'm on a build out right now. I'm actually in the middle. I got permits for it yesterday, so I'm super excited. So that I have a team that's going to come in and just do our same look. We have a systems always we try to reproduce it and then I have a projection for 2025 is an acquisition.So I'm currently just looking at potential acquisitions as well. Michael: these aren't build outs like ground Rhonda: up. No, they're not The next one is going to be an acquisition because, uh, these buildouts in Los Angeles, the thing is that you can't really own buildings in Los Angeles. They're either grandfathered in, they're incredibly expensive.Like we're not talking about like, I'm sure Nebraska parts of it is expensive, but like, you know, there's some parts like Arkansas, whatever people are going to buy these massive buildings. Right. And that's amazing. I love that. I'm married to this city. Okay. Because I married my husband's out here.My family's out here. I would love to get into more of a less saturated environment. I bet you, I can kill it somewhere else. Right. But I am now getting tortured and killed here, but I've grown to realize, um, what is needed in this kind of market and facilitate a growth.Um, and a lot of it has to do with. front loading, a lot of marketing right off the bat and then getting a good SEO, doing PPC ads, um, doing even mail marketing campaigns. You're kind of just throwing everything out there and then seeing what sticks because a lot of times you may have mail marketing not work out, but in some locations it works out because the demographics still checks her mail in Hollywood.Mail marketing for me does not work. Right. But PPC campaigns and local ad campaigns with Google works out for me, having my, website, really honed in on keywords and all that kind of stuff and having good SEO that's going to manage. the traffic that's coming in is really important for Hollywood for Beverly Hills.There's an older demographic there's a bunch of homes around there. these male marketing campaigns and even being in magazines or whatever it is, those tend to actually work. we still, of course, run our Google. Everybody still uses Google or we're going to, uh, aside that we're talking about other things.Facebook. It's still working with that. Calabasas is the same. These locations are, if they're mostly have homes around you rather than apartments and stuff like that, because I think the apartments, it's a very transient, uh, living situation. You may have some people coming in for a couple of months and leaving mail marketing campaigns don't always work out. these, uh, physical, uh, news articles and whatever it is, may not be working out, but, uh, I also have found, um, being in Hollywood, I was reached out a couple of times by magazines, right? And so like our lure, BBC, MSNBC, I was on Forbes for Hollywood's, they called me the most stylish dentist.I don't know. Okay. But I think it sounds like I was a stylish dentist, but I think they were talking about practice when you were getting into the article, but like the style, the brand was there and it was recognized by Forbes, um, as being a nice office, a nice dental office, and then offering some services to patients that were.Really high tech. But anyhow, we digress on that. But I'm saying that these are some things that I was reached out to. And then my online presence grew because they put me in online articles, right? So they kind of all just fueled each other. And it, and sometimes some people Are not as lucky in that area to find out what works right away.But you want to try different marketing strategies. Um, not every practice is going to feel a good strategy with one as opposed to another. I remember when I was in Orange County. So my first, uh, practice location was up there. HMO one, but That one did really well with like those, but this was a couple of years ago.I don't know, but those apps where you can kind of make your own appointment like ZocDoc and, Oh yeah. Uh huh. Uh huh. Yeah. So they were doing really well there with that. Same with Hollywood because there's are like techie, uh, younger generations, right? Like, so you may want to look, put yourself on one of those platforms where they can get onto your, appointment scheduler and put themselves in there because people don't want to call.Some demographics don't want to call you. Right. And so like there's a younger generation who completely functions a hundred percent on their phone. They emailed a text. They don't even have laptops, right? They're all, everything's on their phone. So even optimizing your website to look good on a cell phone is also incredibly important.You can hop onto different dental offices and you'll see that maybe their website for the phone is not easy. It's like a mess. You have to shrink it really low, move it up this way. It's like, you can't find their number because it hasn't been optimized for mobile. these are some things that you definitely want to look into your practice to make sure that you are marketing to the right group.Who's your demographic that you're trying to aim for? And, uh, what keywords are you using for your SEO? If you're doing primarily Invisalign, where do you rank on the Invisalign when somebody puts Invisalign in? I'm picking on Arkansas. I don't know, but there's a line Arkansas, right?Like I want to go to Arkansas too. Michael: You're like, man. Okay. So that's interesting. When it comes to this, you said you front load a lot at the beginning of marketing. I guess specifically, how much did you front? Rhonda: Yeah. A lot, uh, 15, 000, um, in marketing the first month. Michael: Uh, every month for or just the first month, Rhonda: every month for almost like a year.But now in terms of marketing, we're way past that. We're at like 30, 000. It's still going to grow. It's not going to get smaller, but you have to think about it as your ROI. You're spending that much and you have to think, okay, how much am I spending per patient to come in? if you spent a 15, 000 and let's say that the person, the patient came in and the price on their head was 150, but they came in.And they spent 2000, they spend a thousand, whatever it is, you have to be able to know your, your numbers of the practice and, and be able to decipher if some of those marketing campaigns are helpful. And you have to also make sure you train your staff and be part of your systems to ask the patient, whoever is calling, how did you hear about us?Because that is going to be key for you not to overspend marketing. Oh, Google. Okay. Well, let's put a tick on Google. website referrals. At this juncture, I'm actually now, this is what also people need to understand. You can get really high in marketing, but you don't need to spend that amount every single month.Right? There's some points where you're noticing you're getting 50 new patients. Okay. That's amazing. A month for practice is great. 50 new patients is wonderful. Should I fall back on my marketing? Maybe not. Just don't spend more. Okay. And then what we found is we're getting new patients, but mostly now it's referrals.So I'm actually haven't spent more on marketing in the last year. It's just been kind of the same. So over time, when your brand develops and your practice develops, you may not need to spend this money all the time. You may not need to add more fuel to the fire. it can carry on in itself by creating the environment that a patient will want to come back and see you guys and maybe refer a family member because referrals are above all the best.They are the best. That's why reviews. You always want to make sure your reviews are very good. you really want to get everyone involved and gamify your reviews and gamify your practice so that everybody in the practice is aiming towards making sure that your ratings online is always at its best.and it's because this unfortunately in our society will hurt you the most. And it doesn't matter who you are, what your name is, blah, blah, blah. one time I referred, I know he's an excellent doctor. He's amazing actually. he's on a study club with me and does all this stuff. I was referring him over to someone and I went on his Yelp and I'm like, Oh no. I know. He's really good. What are these on there? Right. And then like, I was like, Oh my God, that's his reviews. And then it makes you even question if this guy is good. Right.And you're like, no, he's awesome. What is that? And then, uh, you know, that's going to make your practice suffer. And it's also going to, uh, definitely create a taste in someone's mouth when they come into your practice that they immediately think you're going to be bad, but have to always maintain those reviews.You always have to put a positive, self out there, even if you're having super crappy day, which a lot of us do, obviously we, this is why also this practice lifestyle is stressful because you can have a crappy day, but you have to walk in and be all smiles. It is good. No one is dying next door. You know, like, Oh, like, you know, you want to be really, I didn't come inand, and give that kind of persona.And it really helps build up those reviews and just make sure that you are constantly also asking for them. You don't want to just assume they're going to leave you a review because the person who's going to leave you the reviews that when you don't want leaving a review, but the person who was like, you guys are awesome.You should ask them. Even as the dentist, I don't know why we think we're above that. We're not above that. This is still, this is your practice, right? this is what you spent your money and your time and your blood and your self, your all that on. And if someone is, saying, wow, and giving you some credence on your practice, they love it.Then ask them, you know, I know it's going to take a lot of time out of your day. I really appreciate if you just do that. Um, if you don't want to, no problem, but I just like, it really helps us out and humble yourself. you should always humble yourself in life and in your practice and in your chair is nothing that glorified you above anybody else.You know, stoop down to always look at the patient when they're talking to you, not at their mouth, but in their eyes. sit at their level. Don't stand above them, bring them up when you're talking to them, not lay them down. You, these, this is never have a opinion of yourself.You certainly just always to just level yourself up with your staff and with your patient. And I parent promise you, these reviews are going to read for themselves because now you are. You're real. you're not fakely asking, Hey, you want to leave us a review?And like you were just a dick to them the whole time. Now you're asking for, right? so make sure you keep up with that the whole time. Michael: Yeah, I like that authenticity, right? So then when it comes to, you mentioned there's something, you do, you have a system that you like to reproduce. When it comes to these practices, what is it? Rhonda: Yeah, so the systems are and they can vary between different offices, but systems it's such a word that's so loaded because a lot of times like we have systems and what does that mean? Right? What is the system? So a systems is. the time a patient calls your office and even before that, how did you get that call?How did that call get intercepted? how did the person answering the phone answer that phone? How are they put into your scheduler? How are they followed up with? These are systems. So the step by step by step by step of getting a patient ultimately in the chair in your office.going over your treatment plan and now appointing them for the treatment because you have to appoint them. You can't just say, I got you in the chair. I did a profi and now you're gone. That's not how you need to reappoint them. an order for that patient to be successful and in your chair and having, and I don't want to, I'm going to just divert a little bit, a patient. value comes from their recare and recall and reemergence of them back into your system. One person comes in and you never see them again. That was not a successful new patient encounter. That patient goes on an inactive list. That patient is essentially Lost. You spent marketing dollars on them.You spent all the time on them. You paid the hygienists to see them. You did saw the assistant. You spent the time with them and it's lost, right? You need to create a systems. where a patient that sits in the chair reappoints themselves for either follow up cleaning or follow up care or whatever it is and stays within your practice, right?And so they stay within your active patient pool. Uh, we consider like active patients, someone who's been at least in within the year or 18 months or whatever it is. So keep mindful of that. This patient needs to be seen for recare. don't call it recall because recall sounds like something's wrong with you, right?So I would recommend that you say recare appointment rather than a recall appointment. and then I give that that's credit to UCLA's Dr. Goldstein practice management class, because I remember that was a, one of the slides on his, uh, I never appreciated that until practice where I remember saying, we'll see you on recall.And then the patient was like, Is it like, wrong, like something is wrong, like it's recalled, like, right? So, like, no, no, we just need to re carry, right? And so it's re carrying, the vocabulary is also important. Anyways, these are all part of systems, right? The vocabulary, the way you speak, the way you point them, the way you follow up with them.And it needs to be laid out. in a way where it's not printed and in a binder and put somewhere collecting dust. Welcome to 2023. Everything is online, right? Everything is online. Choose whatever system you want to do, but make sure it's accessible to everyone and that everybody knows your systems from the front office to the back office.Everyone needs to be aware of the way that your practice runs and how you would handle certain situations. Because once you, as a business owner, Leaves or moves away or whatever not leaves like physically leaves this practice and now comes into a perspective where I'm at where I'm mostly Managing I need to make sure people are aware of how to handle a situation without calling me a hundred times, Michael: right?Yeah, gotcha. So you created this systems how like you just record every single thing you're doing and you're like, what's working? And then pivot To do better and better and better, or? Rhonda: Absolutely. And how many times I've been asked, like, can I have a layout of your manual?And I would say, honestly you need to look at your practice, from a specific, It's, not subjective, it's really objective the way that you should be looking at your, practice. Like, so you need to handle each and every practice needs to be done differently. And so if one thing works in one practice may not work in another, but make sure you are understanding what worked.What marketing tactics worked, uh, how your systems are, the way that you walk a patient to the back, do you have a routing slip, because that's part of our system. Some people don't have routing slips, where it says next visit, where it says when the last cleaning was. These are part of systems.Does a routing slip work for you? Do you want your assistant to write your notes? If they want to write your notes, you have templates for them. These are specific things that may work for practice to practice, but see what works for you and get that written down somewhere. That's accessible. And not only in your head, it needs to be transcribed because it's going to be ultimately in order to scale and not only to scale, you can remain in your own practice, but maybe over a couple of years, add more dental chairs, maybe by the building, whatever it is, you don't have to go into multiple practices.There is some dentists. that are very near and dear to me, which I love, and they're killing it with one practice, giant location, like one location. It's huge. Right there. They see as many patients as I do, but just in one location. And so they've scaled. their practice, their one practice to an extraordinary size and they have, worked their systems to what works for them.Michael: Gotcha. Interesting. Okay. So then the systems is tailored to like the practice, obviously, right. But at the same time. I guess it's more like we have to start documenting everything right now and then kind of continue to pivot and pivot. Yeah. Rhonda: There's a lot of like, HubSpot may have something, but like also there's something called training all that also has like an online app, um, that you can do.There's a lot of sites that you can actually create, uh, like leaderboards. For your practice, and that's really good because you can put quizzes on there, like when you're training someone, how do you train them? Do you physically have to train them? Like, because some people learn differently, you may need to, um, Train them, physically show them, show them pictures, show them video, and then maybe take a quiz at the end, like, you know, so yeah, there is a lot of systems that you can look into that may fit your practice, different pricing and all that kind of stuff, but I would recommend is online stuff, app, you can even right now, you can find a bunch of developers that can develop stuff just for you. I utilize a lot of AI in my practice. and, with the development of AI, I've utilized AI where a lot of people have never even thought to use AI, but I've gotten people who develop AI to specifically build stuff for my practice that I think that has helped. I've paid them out and it's just mine. It's not anybody else's. You can't actually go buy it, but I thought this is what I need. And with the cloud based systems, like, so I used to have All my practices were on a server and we were using, but they're now cloud based systems, like, I'll use a different word besides systems but practice management systems, So practice management systems, sometimes it used to be on a server. Now you'll find a lot of them on the cloud. The cloud based servers are a lot better because you can really build. softwares within them that can function for your practice and specifically for them. And you can get the coding and all that kind of stuff.You can find them on like squad help or whatever. Um, but you'll, you can find people who are really good in development and build stuff for your practice. Um, and then that goes into even apps. Maybe you can make an app for all your videos and your, web, information, like your employee handbook and stuff can be on there too.Michael: What have you created with, so far Rhonda: for your practice? So far I have a robot that calls all the dental insurances that are, because we're out of network and we still have concierge dental. So the concierge style. So even if they have dental insurance, we tell them, sure we'll get a breakdown for you and send it out.Ri

In this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen give their 25-year-end tips for saving BIG on taxes. Mark and Mat reveal the complex realm of legal entities, discuss the imminent changes brought about by the Corporate Transparency Act, and much more!Here's what you can expect:The common missteps when setting up a multitude of legal entities such as LLCs, trusts, and corporations. The new mandate requires business owners to register every LLC with FinCEN to avoid hefty penalties of $500 daily fine and potential imprisonment. How to choose between an LLC or an S Corp, and how these entities can be used for asset protection and maintaining privacy. An insightful discussion about the usage of C Corporations, cautioning small business owners about the potential tax implications. The importance of business owners getting an annual review with a proficient tax lawyer.The need to properly dissolve unused entities in light of the new Corporate Transparency Act, to steer clear of hefty penalties and potential legal complications. Listen to this episode to stay updated and navigate your business through these legal changes with ease! Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

Business owners are constantly oversold legal strategies they don't need, even if it's working for others. Always take the time to understand your needs!Legal strategies should be tailored to your specific situation. Otherwise, you end up paying more in fees, maintenance costs, and unnecessary complexity. Don't be persuaded by fear or the fact that everyone else is doing it.For an affordable and simple consultation to build your strategy please book a call with one of our tax lawyers serving business owners nationwide at kkoslawyers.comIn this episode of the Main Street Business Podcast, hosts Mark J Kohler and Mat Sorensen explore the tricky world of legal entities and the upcoming changes due to the Corporate Transparency Act. Here's what they cover:The common pitfalls of creating too many legal entities such as LLCs, trusts, and corporations.The new requirement to register every LLC with FinCEN, with penalties including a $500 per day fine and potential jail time.The importance of understanding when to set up an LLC or an S Corp, and how these entities can be used strategically for asset protection and privacy.A discussion on the use of C Corporations, cautioning small business owners about the potential complexities and tax implications.The need for business owners to consider an annual review with a competent tax lawyer and the importance of a tailored approach to small businesses.The importance of properly closing unused entities in light of the new Corporate Transparency Act to avoid hefty penalties and potential legal complications. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

In today's Tax Tuesday episode, tax experts Toby Mathis, Esq., and returning guest Jeff Webb, CPA, CFO of Anderson Business Advisors, discuss the usual mix of complex and simple tax questions including questions around paying minor children through your LLC, gifting vs. inheriting property, structuring your stock trading business, and how and when to use cost segregation to get the biggest tax benefits. Submit your tax question to taxtuesday@andersonadvisors. Highlights/Topics: “When dissolving a C-Corporation with a single share holder and having a net operating loss, does the loss go on the shareholder's personal return and can the loss be offset against personal income?” No, because that C-Corporation is its own entity. However you probaby finance some of those losses. Anything that you invest in the company that you don't get back will be a capital loss to you. “I jointly-own an inherited property that is currently on the market. Can the expenses that I have (utilities, staging, maintenance, repair, taxes) be added to the cost value?” It depends on how the property is being used once you inherit it. “Can I deduct expenses for working at home and what forms can I use?” That depends. If you're an employee, then no deduction anymore for employee work expenses. “My wife's father wants to sign his house over to us and her brother.  What tax advantage is that to her dad? And what tax issues does it raise for us? Should we start an LLC or some other structure?” No tax advantages for Dad. When dad transfers the property over, it's a gift. And when you give an appreciated asset you receive the basis of the gifter. If it is an investment, it is best to start an LLC. “When you have a C-Corp (no income at this point, a Wyoming LLC that owns two LLCs with rentals), which entity pays for general expenses like memberships, cell phones, internet, education, etc?” When you have an LLC with rental (C-Corp), then you pay the C-Corp and management fee. The C-Corp then covers all the expenses. “How does paying for your child (under 18) help with taxes, if any?” If under 18 through LLCs, there is no employment tax. “Can you benefit from cost segregation at any time?” The longer you wait, there's nothing left to depreciate. A tiny benefit, if any. “Need to move from sole proprietorship to some form of business entity. [...] C-corp? Something else?” Jeff is not a fan – there's a lot of landmines out there. If you're doing well, you want the capital gains. Put your cash in an LLC with an 80/20 split. Watch how to structure a trading business! “I currently own a home in one state (Oregon) and I am looking to purchase an investment property in another state and plan to do so using an LLC or an S-Corp. [...] What would be the easiest way to go about this?” Do not own in an S-Corp! Buy the AZ property in a land trust and LLC.  Have someone guide you through this process “If I invested $30,000 in a marketing class to start a marketing company, do I have to amortize it over 15 years to see any of it back? Can it be a business investment and get it all back?” The only ones that can do this are C-Corps. “Is 1245 property subject to depreciation recapture if the rental property is sold with capital gain?” Gain is subject to recapture. You're going to pay ordinary income tax. Send us your questions, and check out the event schedule listed in the resources section. Resources: Infinity Investing https://infinityinvesting.com/ Email us at Tax Tuesday taxtuesday@andersonadvisors.com Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq    

I frequently receive a common question: "How should you compensate yourself as a business owner?" The answer to this question depends on the unique structure of your business. During this episode, I will delve into the various payment options available to business owners, including those operating as sole proprietors, single-member LLCs, multi-member LLCs or partnerships, S-Corps, and C-Corps. I will share valuable insights into determining the optimal amount and frequency for your payments, emphasize the importance of meticulous financial record-keeping, and explain the tax ramifications associated with each payment arrangement.   Whether you find yourself at the helm of a sole proprietorship or the proprietor of a thriving corporation, grasping the intricacies of compensating yourself in alignment with your business structure is paramount to sustaining financial stability and achieving success. Tune in to this episode as I explain the specifics of each business structure and offer guidance on how to ensure fair and efficient payment to yourself.   What you'll hear in this episode: [1:45] Exploring Payment Methods for Sole Proprietors and Single-Member LLCs. [4:00] Deciphering the Ideal Amount and Frequency of Self-Payment. [6:28] Navigating Compensation in Multi-Member LLCs and Partnerships. [7:45] Unveiling Payment Strategies for S-Corporations. [9:37] Strategies for Self-Compensation in C-Corporations.   If you like this episode, check out: Will Artificial Intelligence Become Your Accountant? The Cure for Ineffective Meetings with Mamie Kanfer Stewart Building a Strong Company Culture with Caroline Pennington   Want to learn more so you can earn more? CFO On Demand click here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen discuss the complexities and potential pitfalls of the Qualified Small Business Stock (QSBS) tax strategy. Here are some of the key points they discussed:An explanation of the QSBS strategy, its allure for small businesses, and the role of C Corporations in this strategy.The three major problems associated with the QSBS strategy - The requirement of having a qualifying business, the need to show significant profit, and issues with potential buyers.The significance of earnings before interest, taxes, depreciation, and amortization (EBITDA) in determining the value of a business.The types of businesses that qualify for the QSBS strategy, and the potential roadblocks that could hinder a QSBS.Real-world examples of situations where the QSBS strategy worked successfully, specifically in venture capital scenarios.TAX AND LEGAL 360Secure your tickets to my most significant tax & legal event of the year!The Ultimate Tax and Legal Conference Phoenix, AZ - Nov 30 thru Dec 2CPAs, Attorneys, Business Owners, AND Entrepreneurs! You don't want to miss this event!CLICK HERE TO GET YOUR TICKETS! Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!