Podcasts about cpas

Top 5 Law Firm Owner Tax Mistakes

10 Accounting Terms Every Law Firm Owner Should Know - short

Want to buy real estate WITHOUT banks or using your credit? Go Here:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://creativefinanceplaybook.com/?utm_source=podcast&utm_content=cfp&utm_campaign=homep⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join The Creative Finance Playbook Coaching Program & Learn Directly from Jenn & Joe:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://creativefinanceplaybook.com/wait-list?utm_source=podcast&utm_content=cfp&utm_campaign=wlist⁠⁠⁠⁠⁠Want to build wealth through real estate without using banks, credit, or tons of capital? Then THIS episode is for you. On today's Creative Finance Playbook Podcast, Jenn sits down with Hannah Wharton—a powerhouse transaction coordinator and founding member of Easy REI Closings. With over $400M+ in deals closed and $50M+ in profits earned for clients, Hannah shares exactly how to close creative real estate deals without the chaos.From wholesaling and sub-to to wraparound mortgages and novations, Hannah breaks down how real estate investors can scale—without having to figure it all out alone. You'll learn:✔ How to close your first creative deal✔ Why outsourcing to a transaction coordinator is a game changer✔ How to build powerful title & attorney relationships✔ Tips to avoid deals falling apartWhether you're a new real estate investor or scaling up, this episode is packed with actionable strategies to help you succeed without traditional financing.Don't forget to like, subscribe & hit the bell for more real estate tips from the Creative Finance Playbook!

Morgan Hamon, co-founder and president of EAG Dental Advisors, returns to the podcast to talk about dentistry financials. As a CPA, Morgan pulls from his experience to talk with Kiera about what it takes to be profitable (beyond revenue and expenses). Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: Kiera Dent (00:01) Hello, Dental A Team listeners. This is Kiera. And today I am so jazzed. I have one of my absolute favorite guests back on the podcast, Morgan Hamon. He used to be with HDA. They have now upgraded their name to EAG Dental Advisors. Super excited. He's an incredible CPA, does all things dental, loves airplanes. He's been on the podcast so many times. We've had some good chats. Dear friend to me, Morgan, welcome back to the show. How are you?   Morgan Hamon (00:20) Ha ha.   Kiera, I'm doing good. It is so great to be with you and looking forward to our conversation today.   Kiera Dent (00:31) to you and me both. So I have to know since you love airplanes and it's in your background, are you a fan or not a fan of Top Gun? I just need to know.   Morgan Hamon (00:35) Mm-hmm.   You know, I have a soft spot   for that movie because when it came out in 1986, I was 15. And I, you know, I sort of set my sight. That definitely influenced me. said, that's what I want to do. So I went out and did it. And so.   Kiera Dent (00:46) Mmm.   So then how did you like Top Gun Maverick? was the second? Tell me, are you fan?   Morgan Hamon (00:56) That one, the purpose   of that movie was entertainment and it was entertaining, but it was a little, you gotta suspend disbelief a little bit. It was a little nostalgic because that was set in Naval Air Station, Lamar, which is where I was for eight years. So it was pretty cool seeing that and the flying scenes were real. And so they were all filmed out. It's called restricted area 2508, which is where we always used to fly. So it was pretty nostalgic seeing some of the flying scenes back where we used to go fly.   Kiera Dent (01:17) Mm-hmm.   Morgan Hamon (01:26) But technically, there's a little, like any movie, there's a little Hollywood going on there. But it was entertaining.   Kiera Dent (01:26) No.   can't   How cool though that they like made a spot for Iceman with him having throat cancer. I thought that was incredible. Like way to go Tom Hanks. So I know you guys didn't come to the podcast to hear Morgan and I talk about top men, but we're going to segue now because Morgan does all things. We love to talk profit. We love to talk taxes. We love to talk all things nerding out on CPA land, which I have really truly fallen in love with like understanding my numbers. So this is a soft spot for me, but   Morgan Hamon (01:39) Yes   Yep.   Hahaha   Mm-hmm.   Kiera Dent (02:01) Morgan said he won the topic today, which I think is a sexy topic and I cannot wait where he said leadership relates to profitability. And I said, Morgan, sign me up. Here we go. So Morgan, this is our time. This is our topic because I absolutely agree with you that leadership does relate to profitability, but take it away. And then we're to dig into tax savings. We're going to dig into all this stuff and who knows where else we're going to go, but ⁓ it'll be a great one. It always is.   Morgan Hamon (02:16) Mm-hmm.   Yes.   Well, think   this topic has evolved with me a little bit, because we've been doing this 15 years and going now. And so a lot of conversations over the years. And I've always thought about profitability, which let's face it, that's why we own businesses. We don't own businesses to pay tax. We own businesses to make a nice living and have some control over our lives. So you've to have profit, and it's hard owning a business. So if we don't have adequate profit, why bother? ⁓   Our mission has always been to really focus on profit, give our doctors feedback on what that profit is, and diagnose if things are, you know, if there's something that could put more money in their pocket. Now, with my CPA hat on, right, there's two parts of that profit equation. There's the expense side of the equation and the revenue side of the equation. And so for a lot of years, I mean, that's where our focus has been.   But I've recently, last year or two, I've really come to the conclusion, look, there's a third component there, right? And it's not math, I can't point to the P &L. But where this comes from is I get asked all the time about, and it's from the clients either considering a startup or purchasing a practice, and they'll say, okay, Morgan, you got clients all 50 states, like where's the great area? Where should I go where folks are doing well?   Kiera Dent (03:27) Ooh, I can't wait.   Morgan Hamon (03:47) I that question. I get asked, hey, do you have a special report for pediatric dentists? Because I'm going to be pediatric, so I'm going to be making more money kind of thing. Or I'll hear a report. Or I'll get a question that, do you have a report just for your clients in California? Because it's like way different out here. And I say, look, the answer is no. We have one report. In geography and specialty,   I think they may influence profitability, but that's not the deal breaker. We have plenty of clients who are specialists. The struggle, we have plenty of clients, like one of our longest term clients is in Nob Hill, San Francisco. She recently moved across the bay, but it's like the most expensive city on the planet. She killed a 55 % profit margin for like 10 years. So geography isn't, that's not how we connect the dots. I think we connect the dots with leadership.   Kiera Dent (04:33) Yeah.   Mm-hmm.   Morgan Hamon (04:43) You know, we have a lot of clients I've known for a long time. I've been with them along with their journey as I've been on my journey, which has been very rewarding. And I've come to the opinion that if we quantify success for a doctor and let's, and we'll talk a little bit more about this when we get to tax, but you know, is it money? Is it time? Is it all the above? If we look at, who's crossed the finish line? Who has the full deal? ⁓ It's the doctor that runs a tight.   Plain and simple. Like you can tell in me talking with them, I know them real well. You can tell by their numbers. Look, they're an amazing clinician, but they're also an amazing business leader. They know how to inspire their team. Their patients feel comfortable. They lead from the front. They just, they do it all. Those are the doctors that have the high profit margin and the high quality of life. It's not geography. It's not specialty, although that can have an influence.   That's the full package. So it is, yes, revenue, expenses, and how well do you lead your practice, in my opinion.   Kiera Dent (05:50) Morgan, I was so happy when I read that and when we were talking about what to bring on because I see it as well. I tell everybody, I can tell walking into a practice even before I walk into the practice, if I've met the leader of the practice, I usually can tell if this practice will be successful or not, truly based on the leader at the helm. And it's interesting because we did, I recently did this at our summit. So people were there, awesome.   Morgan Hamon (05:52) you   Kiera Dent (06:16) If they weren't, that's okay too. But we actually broke down and me and the consultants, we went through all of our clients. Like we looked at the clients, we looked at past clients, we looked at future clients, we looked at different pieces, what were our best clients, what were our worst clients. And I actually broke down, I'm trying to pull it up here, of like common themes of great practices and like great leadership and common themes of the not so good. And so some of the things I've seen in...   Morgan, I'm super curious to hear like what you'd add to our list. Cause I, you see it from a different perspective than we see it. So on my not so good list, these are the ones that like really they always are floundering is they don't trust their office manager. They're sometimes poor clinicians. Like they need to hire somebody else or get some training for that. ⁓ Poor leaders, they have team turnover constantly. They don't implement strategies. They're highly driven by emotion. They don't look at their numbers or their results.   Morgan Hamon (06:45) Mm-hmm. Mm-hmm.   you   you   Kiera Dent (07:11) They do a lot of CE, but they never like implement. They have lots of coaches, but they don't trust and execute. They're half in on everything. So they're not like solid on anything. They want to pay to fix the problem with no self-realization identification that maybe they are the issue. They have ego fear with no accountability. And there's a lot of blame. Like everybody else is the problem. Are some of the things that I've seen and I don't know, like I know I'm putting you on the spot. didn't, I have my nice list over here, but is there anything else you see of patterns? I'm, you and I can both like,   Morgan Hamon (07:30) Mm-hmm. ⁓   Kiera Dent (07:41) in our Rolodex of humans we know are not so good leaders or the practices who aren't as profitable, are there any other things you've noticed in their leadership that maybe isn't as strong?   Morgan Hamon (07:41) No. Right.   Well, that was a very comprehensive list. Once we're done, I'm going to write all those down because I that's very good. If I were to summarize that, if we talk about leadership, it's really about ownership and engagement. You have to own it. Everything's your problem when you're the owner. There's another podcast I like.   Kiera Dent (07:58) Yeah, of course. I'll happily share. I will happily share. And if you get anything else, share back our way too.   Morgan Hamon (08:20) and it's nothing to do with dental, it's all about leadership. And there's a saying, and it's really stuck with me, and I swear I think about this every day, Kiera, when I think about my business and how do we keep doing a good job, is that if there's a problem in your organization, it's a leadership problem. You can trace it all the way back, go any direction you want, it's going to tie back to a leadership problem.   So, if something is going sideways, it ultimately comes back to your leadership as a business owner. So, maybe the staff, maybe there was a bad patient experience, something went sideways with the patient. Was that staff trained? Maybe they were trained, maybe they were not held accountable. Do you have a bad procedure? Maybe the procedure needs adapted. mean, we think about that all the time, constantly adapting, constantly tweaking, and I think you have to do that in any business. If, like you said,   in your list there if people don't want that accountability, there's always making excuses or they don't want to engage. They say, you know, and maybe they are a good clinician. They say, I'd rather just be in the operatory but my staff's a mess. Kiera, come on in here and whip them into shape and let me know when it's all good. You know, that's not how it works. That's not how it works.   Kiera Dent (09:32) Exactly. No, not   only they're part time. I'm not your manager. I'm not your leader. I'm not your boss.   Morgan Hamon (09:38) Right, or you know   what, I'm going to have an hour meeting with my accountant and that should solve it. Like, no, we're going to come up with some action items and then you need to execute those. So you have to own it. Everything's your problem when you own a business. ⁓ And if you own it and you engage, then I think we're on the right path to not be on that extensive list that you gave, which I just love.   Kiera Dent (10:03) right? Yeah, no, and I love it. And   it just made me actually think of something I heard a financial conference and they said EBITDA equals engagement. And I've thought about that a lot because the more engaged your team is, the more engaged you are, honestly, a lot of higher EBITDA there is, I won't leave our audience hanging. I do have the good list and maybe you can add to this to see. So the ones that I found like, that truly just knock it out of the park, these are our most successful right? I'm like, what is their DNA makeup that makes them this great leader?   Morgan Hamon (10:22) Mm-hmm.   Mm-hmm.   Kiera Dent (10:32) and it's their great implementers. They allow the teams to be free, like within the parameters. So they've got a great team culture. They're great at decision-making. They execute, they're consistent. They roll with the punches. They have long-term teams. They make their decisions based on numbers. They're great visionaries. And they know what they're working towards. They don't get distracted. So there's this laser focus that they have. ⁓ And on here, I would also say that they have massive ownership. And they also are not afraid to have the uncomfortable conversations with their team.   Morgan Hamon (10:52) Mm-hmm.   Thank   Mm-hmm.   Kiera Dent (11:02) So   like they truly do, they're excellent at it. They might not be excellent communicators, but they're excellent at like tidying it up, driving their team for success. Those are some of the things I see, but I'm curious if there's anything else you'd want to add to that list because I think you're right. But I think that's a DNA makeup, right? It's people who are disciplined. If I go into the gym, they probably have like strong work ethic. They are laser focused. It's just like, it's who they are in all the aspects of our life, but I don't think they're necessarily born that way.   Morgan Hamon (11:10) Mm-hmm.   Kiera Dent (11:30) I think a lot of them can be, but I think a lot of them create that over time as well. Like it's an evolution of them, not necessarily like, if I'm just born a great leader, like, no, they're constantly working on it, but I'm curious your thoughts.   Morgan Hamon (11:34) Mm-hmm.   Thanks   Yeah,   no, I think that's a good list. If I were to try to tie that together, I would say it's you lead from the front. you know, like all just a personal example for me, like responsiveness is a huge part of our culture. Like, you know, if clients reach out to us, they need to hear back like in a few hours, like today. Lead from the front. is not do what I say. It is do what I do and keep up. Keep up with me.   Kiera Dent (12:03) Yeah.   Morgan Hamon (12:12) Let me show you what I expect. You follow my example and let's go where I'm leading us. I think is when you own a dental practice, you have to do the same thing, whether that's in the daily huddle. You lead by example. If there's a certain patient experience you want your office to have, you have to lead that. They have to be emulating you and say, I sure hope I can do this as well as the doctor. ⁓ Lead from the front. I think you also have to make sure your team understands why their work is important.   Kiera Dent (12:42) cream.   Morgan Hamon (12:42) And   I do that all the time. Why is our work important as well? Because our clients are these dentists. They're drowning in debt. They don't necessarily learn how to run a dental practice in dental school. They're trying to put it all together to make a nice living. And they have probably eight or 10 employees that are accounting on them for their jobs. So our work matters. We're working with people's lives here. So you really have to... ⁓   I think articulate why the work's important and maybe that's not as challenging and don't practice because everybody knows. It's care. They're there to get care. They're in the chair. They're scared. They want to be comfortable and everything's going to be okay. I think you got to lead from the front. You got to say, look, let's do what I do and make sure you keep up with me.   Kiera Dent (13:32) Yeah, no, I love that. I just, think something that I love that you brought this up is I love when I have things internal, as much as it's annoying, that could actually help me become more profitable. It's like, hey, let me go to the gym and work out to be more disciplined. Let me read leadership books to learn how to lead. Let me practice uncomfortable conversations. Let me practice my decision-making. And the reality is like you becoming this person and leadership.   Morgan Hamon (13:34) you   Hehe.   Mm-hmm.   Kiera Dent (14:00) will equate to higher profitability. It's wild. Like I look back at maybe not so strong of leadership days and my business and profitability, I think definitely mirrored and matched where I was. And so also for us to say like, Hey, how do I maybe get to the next level? How can you evolve as a leader as well and be a bit stronger of that good version rather than the not so good version I think is really powerful.   Morgan Hamon (14:10) Mm-hmm.   Hehehe.   Yeah,   I think you really have to recognize whatever industry you're in that your technical skill and your leadership skill are completely different. You have to invest in those skills to acquire those and to maintain them. And just because you could be the most amazing CPA, just brilliant practitioner, that doesn't mean you're a good leader. You could be the most amazing clinician.   Kiera Dent (14:35) 100.   Morgan Hamon (14:51) and just do the most amazing work. That doesn't mean you're gonna be running a ⁓ great tunnel practice. You have to invest in those skills. Just being a smart person with some big degrees, that doesn't do it. You have to acquire those skills. And I didn't realize, I mean, when I was a younger guy in the Navy, I I learned all this. back then, I was just trying to do a good job and...   get killed and and make it all happen. I didn't realize all these amazing lessons and training I was learning because they, mean leadership is, I mean that's first and foremost what we're there to do and so I was very fortunate in that regard but I don't, you you can't, no matter what business you're in, can't rest on your laurels. You got to always be thinking about leadership. Am I being a good leader? Okay, this is going sideways. I need to lead the team back, you know. I can't just, you know, write a memo.   Kiera Dent (15:17) Yeah   Morgan Hamon (15:44) Hey everybody, this is where we need to be. Follow me. Keep up with me.   Kiera Dent (15:49) Yeah, no Morgan, that was such a brilliant piece and I really loved how you just highlighted it and so fun to see that what we see on the team side and the success of the growth and the production and the collections also now correlates with your financial PNL, ⁓ which I think is just magic and it all just ties together. But as you listen to this list and Morgan I talking about it, I also want to just say like if this does not light you up and you're like, ⁓ gosh.   Morgan Hamon (16:05) Mm-hmm   Kiera Dent (16:17) That's okay. You actually can just be an amazing clinician and have somebody actually be the great leader. Just because you opened the practice and you do the dentistry does not mean you need to be the leader of the practice. So I've seen some doctors actually be great implementers. Like they actually would rather execute, implement, do all the ideas and have somebody else be the visionary. That's okay too. And I think like my best thing is know thyself and be free. But if you want to be more profitable, look at this. And I want to take like a sharp   Morgan Hamon (16:18) Mm-hmm.   Mm-hmm.   Hmm.   Mm-hmm.   Yes.   Kiera Dent (16:46) right turn Morgan and talk taxes. It's like, didn't know how to awkwardly like transition. So I'm just gonna like, but I want to talk taxes because I'm like, this also ties into the discipline of leadership, the ownership of leadership and like being freaking savvy to learn how to do taxes better. Like Morgan, I had this client the other day and we were talking and we built this like cute little overhead scorecard for people. We have the EBITDA on there. It comes from the CPAs. So we're like, just make it very simple, like black and white.   Morgan Hamon (16:53) Mm-hmm. Mm-hmm.   Mm-hmm.   you   Kiera Dent (17:15) And then I was like, wait a second, I should throw a tax bucket on there. So like what you're getting paid for your W-2 plus what your profit is, like that gets taxed. I have a doctor, she has been an owner, we're talking 20 plus years. She's like, Kiera, I never knew that my profit had to get taxed. Like I never knew that that extra cash, like I just thought that was cash that came to me. And I'm like, this is why doctors are always broke because they don't know how this works out. So I'm super excited to talk about.   Morgan Hamon (17:21) Mm-hmm.   Mm-hmm.   you   Mm-hmm.   No. Right. Mm hmm.   Kiera Dent (17:45) tax planning, it's mid-year, let's make sure you're not crying in December and like, popping the confetti.   Morgan Hamon (17:46) Yeah.   Yeah, right. And   crying in December. if you recall, ⁓ my topic was just kind of the psychology of tax. And again, this has evolved over time with a lot of conversations. I think...   Kiera Dent (17:54) was New York I'm   The   is like the wise sage over there, Morgan. Like you got, like, just, you're just hanging out over there.   Morgan Hamon (18:09) Well, it's always trying to,   you know, I think about my conversations. How do we kind of empower these dentists to achieve this? And it's all through, I think, education. You've got to understand why. Like this doctor, 20-year-old, didn't understand.   Kiera Dent (18:29) I was like, no, I'm not wearing a strip.   Morgan Hamon (18:30) Every initial consultation   I'm having now with a startup doctor, we do a tax 101 just real quick, takes me like five minutes. Let's get our hands on some concepts here. Why I think this is important to really understand and talk about tax, just kind of how it makes us feel, is because we've had some instances where you have a doctor, and let's just say on our previous conversation, this is how we're gonna tie it together, right? So we have the doctors on that secondary list,   They're rock star. They're killing it. They're making tons of cash. They're engaging the right people. They got the right people in place, and it ultimately results in a lot of success. I've seen people do that, but then when it comes time for tax, they lose sight of all that, and they get just really obsessed about that tax bill. They lose what I'll think of as like peace and fulfillment.   just at the start of the call, I recently got remarried and my wife and I, we talk about that a lot, peace and fulfillment. Why do we have that in life? And that's what we're working for. And I think when you own a business, you're working towards something, right? And we want to have that peace and fulfillment. And I've seen that just get destroyed with people because they get very emotional and overly focused on their tax. And I see the logic just sort of exit stage left.   and we just end up with this very emotional reaction to tax. And who I tend to really direct this conversation to is not necessarily what you just described, Bill. That's kind an interesting one. Usually if someone's been making great money 20 years, they kind of know the program. It is, Kiera, it's the newer owners making real money for the first time in their lives. And that is where there's an adjustment. There's a mental journey they have to go on.   Kiera Dent (20:21) 100.   Morgan Hamon (20:29) And so what I thought today, like, I guarantee you we have some listeners as soon as they heard tax, they're like, what's on their mind is, what's the secret? How do I save more on tax? Well, it does. So, right? So we're going to get to that. All right. Well, we'll get to that. But before we do that, I thought, let's have some straight talk.   Kiera Dent (20:40) It does feel like the CPA's hold back or the secret robot. mean, tell me your Harry Potter rules there, Morgan. I just want to know. I need to find one CPA that just knows the secrets of the trade.   Yeah.   Morgan Hamon (20:58) Let's have some straight talk on tax. Why is this emotional? Why is this hard? Let's just take the journey of a doctor that is an associate doing pretty well with their W-2. We all think that we all go in W-2s. You have mandatory withholding. It comes out of your check, gets fired off to the government. You get your net check and you might look at your paycheck and go, what's all this stuff? don't know. I got my net check. I'm to plan my life around this net check. Then we do the tax return.   There's always a little settle up. You might owe a little, get all my back. You always hope to get a little money back, but generally you just plan your life with never having your hands on that money as a W-2. So now we own a business. You get all that money and then we now have to turn around and pay it back. Now keep in mind your tax rates. Okay. If you are married, Google the 2025 tax rates, right? That's what they are. That's what they are. If you're an employee.   Kiera Dent (21:44) Yep.   Morgan Hamon (21:55) That's what they are if you're the owner of a pass-through business. They are the same. But that act of having to turn around and write a check just is, you gotta become comfortable with that and it's an adjustment. ⁓ And here's the other thing where if we just, okay, let's take all our emotions about tax, let's just kind put it over the side and let's just talk very logically.   Kiera Dent (22:12) I agree.   Morgan Hamon (22:23) If you're gonna make three times as much money, what's also going to be three times as much? Your tax. But it's actually maybe a little bit more, right? We got a progressive tax system, right? So, I think when people become high earners, and they go through the grieving process,   Kiera Dent (22:36) see what we feel. It's awesome.   Morgan Hamon (22:48) And I guarantee you, I'll just talk through this briefly, but Gary, you and I have both been through this. And the doctors that are killing it and making lots of money, they've probably been through it too. But if we think about the grieving process, what's the first step? All right, it's denial. Okay, it's the first year you went from making 200 grand as an associate and now making 700 grand. And we've already written off the equipment and now we got 700 grand income. And you get your tax plan and you're like, what? This isn't for me.   Kiera Dent (22:54) Yes.   Morgan Hamon (23:17) Honey, think our email got hacked. We got this, this can't be right. This isn't mine. You go full on denial, this can't be right. And then we're like, no, I'm sorry. I'm sorry, that is your tax plan. And then we immediately go to anger. I'm so mad. thought Morgan was, I thought Morgan was this cool guy. I'm mad at him.   Kiera Dent (23:22) I'm   Hmm?   I need a different CPA, Morgan. I'm finding a different Harry Potter wizard. I need someone better than you.   Not today, I'm out of here.   Morgan Hamon (23:45) You get angry.   You're like, what the heck? I got this tax bill. So you get kind of angry. And then you go into bargaining and say, you know what? I'm going to go buy a CEREC machine tomorrow. Say, OK. I mean, do you need that? mean, do you do a lot of grounds? So you get all, I'm going to do this, this, and then where people are really in troubles and they stop making their estimated payments. Well, this can't be right. This can't   Kiera Dent (23:53) Hahaha.   Ha   Morgan Hamon (24:14) I'm going to go, I'm going to buy this and this and this. And then we start, there's a 6,000 pound truck. I'm going to go buy this big truck. And I kind of joke around a little bit. Yeah. So you get into bargaining, right? And then you're like, OK, well, gosh, I don't need any other equipment. I'm already doing the stuff. And then you get into depression. You're like, really? Am I going to? I guess this just stinks. And then finally, get to acceptance.   Kiera Dent (24:23) G-Wagon right now. I'm gonna brand it.   Morgan Hamon (24:43) and you realize if you're a high earner, there is a corresponding bill. Now that can be managed. There are ways for legal, perfectly legal tax avoidance to get into the so-called secrets. But you go through this journey. This has just been my, I guess, my 15-year research project. I've been through it personally myself, and I'm a CPA, and I still like writing this check. Dang. ⁓   Kiera Dent (25:06) same.   you   Morgan Hamon (25:13) But,   so that's what we have to, I think, wrap our head around, you understand that. And I encourage people, look, if you're a dentist, and maybe this dentist joins the seven figure club, right? You got seven figure profit, that's pretty amazing, right? That's really good income. But you will have a six figure tax bill. And that's okay. That's okay. ⁓   Kiera Dent (25:37) You will.   Morgan Hamon (25:42) And you just, got to get through to acceptance and take comfort in that you are engaged to take advantage of the legal opportunities that are out there for proper tax avoidance. And that's the, we talk about the secrets, you know, I see these clowns on, on YouTube of like, ⁓ I know the secrets of the tax code. mean, if you see that, I mean, just run. ⁓ There are no secrets. They're all well-known. Like I know all our competitors in our, the dental field and I'm on friendly terms with many of them.   We all know these. We all know the stuff that can be done. Legal tax avoidance. here's, we'll call it the secret, ⁓ Dentists, everyone's part of it. Here's the secrets, okay? Here's the secret. When you have a pass through business, which is what these dental practices are, right? So the business, and this will shed some light on your client 20 years, right? Your business does not pay income tax. The business tax return   Kiera Dent (26:22) Everybody's perking up right now, Morgan. They're like, okay.   Morgan Hamon (26:42) is math. It's absurdly complex math, but it quantifies the profit that's passed it through and gets listed on your personal tax return. And you owe income tax on that profit. That's what it means by pass through. And it's all ordinary income tax. There's no special tax rate for business owners. It's ordinary income tax. So how do we save money? Here's the secret. We have to capture as many expenses that we're otherwise incurring and capture those as business deductions.   When we do that, that lowers profit. Less profit passes through to the personal tax return, you pay less tax. That's the secret. So you have to execute the strategies, right? The home office is perfect for doctors. Totally substantiated, totally mainstream deduction. That's what justifies the car.   You can deduct a car, but that means you have to be engaged. You have to get the mile IQ. You have to understand what is your business percentage use. You have to do this right. You have to document it. There's things you have to do right. Take your board meeting. ⁓ If the cash flow allows, have a qualified retirement plan. Take full advantage of that. ⁓ If you're okay with having staff over to your house, have those meetings at home and have the office rent it from you. again, these aren't... People know these. This isn't...   I'd love to tell you I'm some genius that went and studied the tax code and formulated all these myself. This is out there. What you're engaging with your CPA is folks that will actually bring this to you and do it, but ultimately the doctor has to do it. What I think about is if someone thinks, well, I'm just going to have an hour meeting with my account at the end of the year and they're just going to take care of all of this. That's like saying, you know what?   Kiera Dent (28:07) haha   cringe.   Morgan Hamon (28:30) I know I need to work out and eat right to be healthy but I'm just going to go meet with my doc this fall and that should do it. Maybe they'll give me a pill that'll make me in shape and healthy. But no, you got to do the stuff. So if your accountant tells you, look, take a board meeting, document it properly, there's a proper way to do it, you got to do it. That's how we say the proper legal avoidance. your account comes to you and says, look, it's time to be an S-Corp,   Kiera Dent (28:51) Mm-hmm.   Morgan Hamon (29:00) because the profit is appropriate, you gotta follow the instruction. There's a procedure there and it's gonna save a lot of money on self-employment payroll tax if it's done correctly. You gotta listen, but you gotta engage. There's action items. And so we, ⁓ every September, I made a checklist. You know, again, Navy guy, right? I got a checklist. Log in, do the checklist. I call it our business tax savings maximizer. That's the flashiest, catchiest name I could think of. But like, log in and do it. That's the secret.   Kiera Dent (29:19) I love it.   you   Morgan Hamon (29:29) So, you know, for those listeners that waiting for the secret, that's it, right? We got to capture expenses as business deductions and there is action items for the doctor. It requires that engagement. And to circle back to where what you said earlier, like you can't come into the office and just fix it for them. They've got responsibilities on things to do too and that's the same with tax policy.   Kiera Dent (29:53) I thought that was such a beautiful way. And as you were going through the phases of grief, I'm like, oh yeah, I definitely lived all of those.   Thanks for kicking it off with Top Gun, ending with like tack strategy. Thanks for sharing some of the tips. But truly super honored to work with you and love what you guys are doing for dentists out there.   Morgan Hamon (30:04) Alright.   Kiera,   I always enjoy our visits and look forward to each one. So I appreciate you having me. I really enjoyed it.   Kiera Dent (30:16) course. And for all of you listening, thank you for listening and I'll catch you next time on The Dental A Team podcast.  

Why is AI failing at basic accounting tasks while claiming to outsmart PhD students? Blake and David dive into the stark reality of AI implementation in accounting, from Ramp's promising new expense management agents to QuickBooks' baffling suggestion to credit and debit the same account. You'll discover the critical security vulnerabilities in AI systems and learn why clients are increasingly using AI to fact-check their accountants' advice. Plus, get a comprehensive breakdown of the top 10 tax planning opportunities in the One Big, Beautiful Bill Act—from permanent 100% bonus depreciation to Trump accounts for children. The hosts also explore which companies will be AI's biggest losers and why the future of accounting lies in financial management, not advisory services.SponsorsOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:30) - The Big Beautiful Bill: Tax Provisions Overview (01:53) - AI in Accounting: RAMP's New AI Agents (02:56) - QuickBooks AI Agents: Frustrations and Feedback (06:05) - RAMP's AI Agents: Features and Benefits (14:38) - AI's Impact on Employment: Winners and Losers (20:54) - Grok 4: The Future of AI in Accounting (36:53) - Juno and Tax Prep Automation (37:52) - The Rise of AI in Cyber Attacks (38:26) - Social Engineering and AI (39:18) - Hidden AI Prompts in Academic Papers (41:25) - AI Security Risks and Internal Controls (45:45) - The Accountant's Labor Shortage (46:59) - Tax Planning Opportunities in the New Bill (56:29) - The Impact of the New Tax Bill (01:00:45) - Final Thoughts and Wrap-Up  Show NotesRamp agents: Let finance teams do finance https://ramp.com/blog/ramp-agents-announcementMicrosoft shares $500M in AI savings internally days after cutting 9,000 jobshttps://techcrunch.com/2025/07/09/microsoft-shares-500m-in-ai-savings-internally-days-after-cutting-9000-jobs/Indeed, Glassdoor to lay off 1300 staff amid AI pushhttps://techcrunch.com/2025/07/11/indeed-glassdoor-to-lay-off-1300-staff/Workday Stock Takes A Hit After Piper Sandler Survey Flags AI-Driven Headwinds, But Retail's Optimistic https://stocktwits.com/news-articles/markets/equity/workday-stock-takes-a-hit-after-piper-sandler-survey-flags-ai-driven-headwinds/ch8GfqaR5kYElon Musk's xAI launches Grok 4 alongside a $300 monthly subscription https://techcrunch.com/2025/07/09/elon-musks-xai-launches-grok-4-alongside-a-300-monthly-subscription/Hidden AI prompts in academic papers spark concern about research integrity https://www.japantimes.co.jp/news/2025/07/04/japan/ai-research-prompt-injection/Tax provisions in the One Big Beautiful Bill Act https://www.journalofaccountancy.com/news/2025/jun/tax-changes-in-senate-budget-reconciliation-bill/Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifiedsREFRAME 2025 - http://accountingpodcast.promo/reframe2025Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

Title: What They Don't Tell You About Raising Capital (Until It's Too Late) with Ben Fraser Summary: In this episode of the Invest Like a Billionaire podcast, host Ben Frasier interviews Seth Bradley, the Chief Legal Officer at TribeVest and an experienced securities attorney. They discuss Seth's transition from a big law background to becoming a passive investor and then an active capital raiser, detailing the steps involved in his journey. Seth shares insights on private placements and syndications, emphasizing the importance of understanding legal documents such as Private Placement Memorandums (PPMs) and operating agreements. The conversation also highlights key trends and shifts in capital raising, particularly the emergence of the fund-to-fund model, which allows passive investors to leverage their networks without taking an active role in deal management. Furthermore, Seth talks about the services provided by TribeVest to simplify the investment process for both passive investors and new fund managers. They touch upon the current state of the alternative investment market, discussing the advantages and opportunities available amid economic challenges. Links to listen and subscribe: https://podcasts.apple.com/us/podcast/155-moving-from-passive-to-active-investor-feat-seth/id1587171662?i=1000652125962 Links to watch and subscribe: https://www.youtube.com/watch?v=oiRq38II33s&t=1047s Bullet Point Highlights: Seth Bradley's Journey: Transitioned from big law to passive investing, and now to active capital raising. Understanding Legal Documents: Importance of critically reviewing PPMs and operating agreements as an investor. Red Flags in Investments: Identifying key terms and clauses in legal documents that can affect investor rights and returns. Fund-to-Fund Model: Insights into how new capital raisers can operate without needing to be actively involved in deals. TribeVest Services: Overview of how TribeVest supports fund managers with a streamlined legal and operational framework. Market Trends: Discussion on the evolution and current opportunities within the alternative investment space. Advice for Investors: Encouragement to dive into the market now to capitalize on upcoming opportunities as conditions stabilize. Transcript: hello future billionaires welcome back to another episode of the invest like a billionaire podcast today's guest is Seth Bradley very fun to talk with him he's friend of mine for several years and he's the chief legal officer at tribe vest which is a really cool company if you haven't heard of them we actually had their CEO and founder on about a year ago but they're kind of doing a really new cool push that I'm going to talk about in a sec but his background he's a big law Securities attorney spent a lot of time in kind of   corporate world transition really to kind of becoming a passive investor invest a lot of syndications so he talks a lot about his journey making that transition kind of going to generate passive income Financial Independence but then he's actually shifted back to becoming an active Capital Riser and he's seen a lot of people make this transition that been investing for a little bit and now want to kind of activate their Network and some of the stuff they're doing at Tri bestest is making this really really easy for   people so it's a really cool interview we kind of hit a lot of his journey from his perspective as a Securities attorney what are some of the big things you got to focus on when you're reviewing legal documents what are the red flags yellow flags Etc and then he kind of shares a little bit about some of the things and the trends going on in the kind of private placement syndication and capital raising worlds that if you haven't heard about some of these ideas you definitely want to tune in and listen because it's pretty cool I'm   seeing the same thing on my side of things so you're going to enjoy this episode he's a very very sharp guy and a lot of great insights that he shared I think you're going to love this episode please enjoy this is the invest like a billionaire podcast where we uncover the alternative investment and strategies that billionaires use to grow wealth the tools and tactics you'll learn from this podcast will make you a better investor and help you build Legacy wealth join us as we dive into the world   of alternative Investments uncover strategies of the ultra wealthy discuss economics and interview successful investors looking for Passive Investments done for you with and funds we help accredited investors that are looking for higher yields and diversification from the stock market as a passive investor we do all the work for you making sure your money is working hard for you in alternative investments in fact our team invests alongside you in every deal so our interests are aligned we focus on macr   driven alternative Investments so your portfolio is best positioned for this economic environment get started and download your free economic report today welcome back to another episode episode of the invest like a billionaire podcast I am your host Ben Frasier and joined by a very exciting guest Seth Bradley I've know Seth for several years he is the managing partner at Ray's law and the chief legal officer at tribe vest and uh Seth and I have done some business over the years and different things he's an   attorney and uh a very experienced Securities attorney and even has his own podcast called the passive income attorney podcast and so he comes with a really unique perspective both being an entrepreneur investor as well as an attorney gives him some really unique insights in this space of kind of private placements alternative Investments and super excited to have on the show so Seth thanks for coming on man Ben appreciate it man we finally got around to to recording this really really appreciate it man yeah it was   kind of fun because we reached out a couple years ago and uh we're we're gonna do something that never worked out and then all of a sudden you're ready to do the podcast tour and Pops back up three years later so hey let's do good I'm I'm gay man so looking forward to doing this now so give a little bit of uh context for your background uh for those who maybe aren't familiar with you and just kind of what you do in kind of the areas of expertise that you focus on as an attorney sure man so I worked in   big law for about seven years um most recently at a top three globally ranked Law Firm um as a real estate started out as a real estate attorney made my way over to Securities um at that point um I started kind of getting that you know mo as most entrepreneurs do that feeling like you want to do something else you don't want to have all these bosses you want to get out there and do your own thing um but you know I'd worked pretty hard to get where I was so I wanted to make sure that I knew what I was getting   myself into um I'd already been working with Real Estate Investors and folks like that as my clients um started talking to them started talking to some of the partners in my in my firm about how they invest what they do um really Lear learned about you know passive investing um and making my way kind of to the equity side and that's really where I my journey began as a passive investor in in syndications so I invested in a number of those um and also invested actively you know I kind of did the the Bigger Pockets uh you   know path where I listened to Bigger Pockets I did a you know house hack I did fix and flips I did buy and hold single families things like that as well as past investing in larger Investments um and at that point I realized hey I've got this network of attorneys and other folks that I can raise capital from so I made my way from passive investor to active investor man so you've done done the the full circle here I love it so started Big Lot and your bio says you Clos billions of dollars in real estate   transactions over the past decade so you've you've seen a lot of deals um I'd be curious because you know a lot of people that maybe newer to real estate investing newer to Alternative investments in general and just the world of private placements they kind naturally think hey the only way I can do it is you know the Bigger Pockets path which is a great path if you want to go and you know do it actively and have a second job so to speak where you go and buy your own real estate and and fix it up or work with contractors to   fix it up but you went straight into syndications which in a lot of ways uh fits better for uh people that are working professionals and you know don't want to necessarily trade time for wealth building already have a great income uh generator through the their job or their business and they want to just redeploy that into syndications so what was kind of the journey for you understanding the world of syndications and really with your background um insecurities law and how did you kind of get comfortable with that and what was   the Journey For You diving head first into syndications early on yeah I mean you really have to have skills uh money or time that those are the three things you can really offer right so it depends on how much of each one of those you have as to what your investment profile should look like and what you should get started in um I was actively wanting to participate in deals from the get-go but I did already have exposure from my real estate uh real estate practice to syndications and and watching other   people raise Capital knowing that those types of Investments are out there so I think I had an advantage there because prior to that I had no idea the only thing I knew was kind of that Bigger Pockets path it's like okay well house hack into a single family or dup or a duplex and then rent the other side out and then Fix and Flip This or wholesale that um I didn't really know about syndications other than through um my my law practice so I think I had that Advantage um get getting that exposure   and being able to transition to that quicker yeah talk a little bit about I mean your podcast is called passive income attorney and your your big goal is passive income and what was really kind of the idea behind that or why was that your primary goal and what does that mean to you yeah I mean the idea behind that was to be passive and I think we kind of as entrepreneurs we go back and forth I think we all want to end up on the completely passive side eventually but sometimes you don't get there as quickly   if you don't go on the active side for a little bit and I think I'm I'm seeing that a lot myself I did that I started investing passively and now I went to the active side as an active syndicator as a fund manager raising capital and participating in deals even on the operational side um because you can accelerate quicker that way if you the more time and effort that you put in the faster you can accelerate now a lot of folks out there especially pive investors listening if their doctors dentist lawyers they don't have time for   that so they need to invest passively that's probably the best use of their time because their highest and best use of their time is in their career being a doctor a dentist a lawyer an engineer where they're making a lot of money in their active income it doesn't really make sense that for them to start a fix flip business or wholesale business or even a syndication business really out of the gate until you figure out what what you want to do it makes more sense to take that active income put it into   passive investment vehicles that don't take any time away from your practice Yeah I love that what' you say there's you you one of three things skills time or money right and so one of those you're going to be trading to generate more passive income or wealth and wherever you're at in the Spectrum and where you're willing to kind of trade for for that invest I love that it's very uh makes a lot of sense so talk a little bit you know I want to get to what you said this in the minute kind of transitioning kind of bluring the line   of going back and forth between passive and active I think this is really interesting I've seen the same Trend but before we get there you know a lot of a lot of our listeners you know that are maybe newer to syndications newer to passive investing they um get a little bit shell shocked when they see a PPM or a set of legal docs to review for a deal and they they don't know what should I be focusing on what should I be looking for what are potential red flags or yellow flags and you know from your perspective and   I'm sure you probably saw a lot of things early on they like okay that's interesting or um you know making that transition you already had a leg up uh given your background but what are some kind of key things that you know maybe even coming into it you already had a leg up but now even 10 years later down the road have learned and things that you said you know hey this is way more important than I thought it was originally from from a pure passive standpoint because I think that's a roadblock for a lot of people yeah yeah   and you know it's intimidating right when you get that first PPM which is going to have exhibits to it and the exhibits are going to be an operating agreement subscription agreement maybe um maybe some marketing materials a business plan things like that you're looking at at least a 100 page document maybe it's 200 pages and if you're not a lawyer and used to looking at 100 page documents that is intimidating you're like what am I supposed to do this is going to take me you know this is like a month's worth reading if I'm actually   going to read this thing and really most past investors don't read it um but you should I mean you should at least start reading them um because it gets it gets easier and easier to read because they're all going to be very similar they're all going to have a similar structure and similar pieces and things to look out for I think one really important thing and you might not be able to do this the first time but you can start um kind of thinking about it but just really matching the PPM to the oper room because the PPM should really   be um kind of a a summary so to speak of the operating agreement because the operating agreement is the meat of what's actually going to be the the terms uh within that LLC within that investment and at the end of the day if something goes wrong or not even goes wrong but if there if there's some sort of um agreement or disagreement that needs to be figured out you're going to look at the operating agreement not necessarily the PPM to figure out uh what the next step is what is the mechanism for fixing this problem so you   know just making sure that the people PM accurately reflects what the operating agreement says is very important and and then taking a step further that the operating agreement and the PPM match what the lead sponsors are telling you let's say in the marketing materials or the webinar like just making sure that there's a clear picture between all the marketing materials the webinar um and the legal documentation is really important and sometimes if it doesn't make sense or there are certain terms   that don't match up you know maybe they're not as meticulous as they should be and you need to look elsewhere that that's a really important thing to look out for um kind of coming back to your question you know when when you're first starting as a passive investor all you're really looking at is the returns right you're comparing kind of your projected returns in this deal to your projected returns in this other deal and you might get a 2% more irr return projected in this one than that one so   you're going to go with this one but at the end of the day those are just projections right those are just projections and those can be manipulated those are based on assumptions from the lead sponsor and those are not the most important things the most important things are the the sponsor and their track record what they've done how they've performed um and you know the market and the deal itself but just those projected returns can be manipulated so that's really you know it's important at the beginning or at   least you think it's important and then later on you become a more um wiy vet in passive investing you'll realize it's not as important as as as some other things like hey are your fees aligned things like that like what are the Voting Rights like how what if something happens and the manager is doing a terrible job how can you possibly get them out like what are those mechanisms um what are the mechanisms for a capital call when things go wrong what what happens those are the those are the more   detailed things and the nuances you need to look at as a past investor rather than just looking at the projected returns that's a lot of lot of good nuggets right there you just listen to that skip back a few minutes and listen to it again because that's really good I think you're so right right if it just it can feel intimidating to look at a 100 page 200 Page document and where do I start but just start at the beginning just start reading it it just got to skim read it skim read it and just the more   you get familiarized with um these different document sets the more they all kind of seem similar over time and you can kind of notice the the things that are common among different deals and then you also kind of notice the things that pop up as oh that's kind of unique or that that's kind of different than what I've seen in other deals and that's maybe outside of the norm um and just kind of getting familiarized with it you're going to pick up a lot on it but I think you hit a few of the sections that I think are really   important that a lot of people kind of glaze over because if you're getting just looking at the here's the irr projection here's where turns are going to be like you said there's uh a lot of assumptions that go into what those numbers are derived from and you know I always come back to my banking background you know risk adjusted returns right because every element of uh every deal you know whatever return you're projecting there's different levels of risk and if you're you know taking a lot more risk in a particular   deal or strategy or structure the same level of return it's it's not Apples to Apples right and so understanding what that is from a deal standpoint but there's also risks uh some of the points you made within the legal structure and so he's saying go straight to the operating agreement as a starting point because that's ultim timately what's going to govern the the deal and the mechanisms for potentially firing the sponsor as a manager or like you said the capital call and the waterfall section understanding how does do   profits flow through the entity and what are the splits between them what are some things that maybe 10 years down the road now invested I don't know how many deals you've invested in passively but you look back you're like oh man you know what I I read that section and you know I kind of knew that maybe was a little outside the norm but I was so excited about the deal didn't really wasn't too concerned about it now looking back like oh man now that was that was a good learning experience because now you know maybe I can't vote   out the manager or you know different things that you would say looking back are more important that maybe you put weight on in the front end and maybe some examples of um you know especially right now I think a lot of a lot of deals that people invested over the past few years you know unfortunately are requiring Capital calls or are kind of headed in a direction that may not be good and um you know maybe it's the fault of the operator maybe it's not but if it is a fault of the operator What mechanisms do you have and what voting   rights do you have as a passive investor and talk a little bit about that because I think that's going to be very relevant especially over the next few years is sure certain older deals are kind of not hitting the projections they thought originally yeah I mean I think I already touched on most of them from a high level but like for instance um voting out the manager like if the manager is doing something um fraudulent or misrepresented what they were doing or you know really just doing a terrible   job is probably not a reason enough to get them out but it could be um if it gets to a certain certain point um but that's really one thing to to look for to see like what the mechanism is like does it take a unanimous Vote or does it take a majority vote or does it take a majority or super majority of each share class each membership class within the LLC so it it and typically they're set up so it's really difficult to get the manager out right because the lead sponsor is going to be the manager and   they're the ones that are going to be making all the decisions and they don't want to lose control so they wanted to make it as hard as possible um and still make it legal um to stay in that seat and not get voted out so you know you will see some pretty onerous um Provisions within the operating agreement to be able to get them out but there should be a reasonable way to do it whether that's a super majority vote perhaps that's that's reasonable so super majority vote um in the event of a misrepresentation fraud you know any   sort of like bad boy act by the the manager or if their bad performance reaches the level of you know negligence or something like that there just needs to be a mechanism to get them out that's that's just one example when you had mentioned Capital calls as well so Capital calls it's like what is the mechanism when the LLC or or the syndication needs additional operating expenses to survive what what is the mechanism to do that like can is the first step to actually do a capital call and is that Capital Call Mandatory   meaning that the investors have to participate um on a proat a basis or that's not typical so if you that's one thing to look out for if it is mandatory that you do and and if you don't then you're basically out or you lose uh you know an unreasonable amount of your Equity if you don't participate then perhaps that's a red flag right like if you don't participate um well I should say the capital call should be optional and if you don't participate that's okay um but you will most likely be watered   down your Equity will get watered down on a prata basis rather than something above a pro basis right so that's an example you're saying of if it's required which is uncommon right that that's that's a red flag potentially um or if you get diluted a higher than the proat mount is another another negative and you're exactly right I mean I think you know part of this is when you're when you're investing passively you're you're giving up control of of operating the deal to the sponsor right is so that that's kind of   the the trade-off is you're hiring experts you're investing with experts that hopefully know what they're doing so that you don't have to be doing the day-to-day stuff and so it can be difficult to replace managers and and uh you know have uh impactful voting rights uh that can change the outcome unless there's fraudulence or negligence but I think it kind of goes to the point too of understanding what these kind of parameters are and what's normal and then also like I think you can pick up a lot of what you're saying and just the   congruence between PPM the operating agreement the the offering memorandum the webinars and um and then really the alignment of Interest right because if ultimately if the sponsor stands to lose alongside the investors if they're not just getting rich just off of fees and you know does they don't have a whole lot of skin in the game then ultimately it might not be you know a great deal but if they have a lot of lot skin in the game and even if it's written in these certain ways it doesn't necessarily mean it's a bad a bad   investment so okay love it get a little bit in the weeds there for for some people and if this is you know um newer to you I I definitely encourage you um to just start this you know opening up the bpms or reading them and you're going to pick up a lot by doing that and then just ask questions right and I think it's a great thing too that if you're reading the PBM and reading operating agreement to ask questions of the sponsor and that's usually pretty indicative of one how well do they know their own documents and to how willing   are they uh to address certain questions that maybe maybe concerns to you right and I think you can actually get a really good sense of um how they and how they respond of of what that interaction is going to be so love that thanks for some of that Insight Seth I'd love to shift a little bit uh you mentioned something earlier I I wanted to come back to is you you kind of you have said before you the future of capital raising is kind of Shifting and evolving and I think a lot of people are realizing and   I've seeing the same thing too right I'm a a coach and you know masterminds for Capital risers and this fun to fund model is becoming very popularized and people that maybe think oh I'm not really a capital Riser or you know that's that's not my you know what I've learned to do went to school to do or whatever or realizing hey actually I've been investing passively for a while I have a pretty great Network because I'm around a lot of accredited investors I've done enough to kind of know a good amount and   I can actually turn this into a business right and so talk a little bit about what the fun to fund model means and maybe someone that's in that boat where what you said is I think I'm gonna go 100% passive but then you know you're also learning a lot along the way and you have a a network that maybe you can activate and also raise capital and get get paid to do it compliantly that's right and and you said it and I'm seeing it time after time where past investors they invest in a number of deals and and   you know folks that are investing in these deals typically have a little bit of money and they probably have friends that have money as well and their their friends start asking them about the deals that they're investing in um and they start thinking hey you know what what can I can I get paid can I have a is there a business here that I can develop that I can build um by bringing in all my friends and family that might also be wealthy might be able to put these These funds together um and invest   in the deal together um you can certainly do that but you start to run into lots of Securities lots of rules and regulations that some people know about and some people don't you'd be surprised uh um that you know you see people out there raising capital in ways that they shouldn't do it um but what's great about the fund of funds model is that you know you're not a what's called a CP so you're not an active partner with the lead sponsor that's kind of the I'll call it the old way and I you know   I've been saying that the CP model is dead just to kind of put it out there that um you know we shouldn't be raising Capital with lead sponsors and then not doing anything else not participating in deal and and having an active role if you're a true cgp you need to have an active role in in the deal and that's kind of what deters um passive investors and doctors and dentists and lawyers and people like that that already have a career they don't want to take an active role right like they don't want to do   the asset management or manage the property manager or talk to tenants or anything like that and that's where the fund of fund solution comes in the fund of fund solution is really creating another syndication or another fund um that invests into the lead sponsor syndication or fund and that's where the name fund of fund comes from now traditionally the issue with that is well it does come with responsibilities for the fund manager they they have to put the deal they have to put their own fund together they have to put their cap   table together open a business banking account form an LLC get a Securities attorney um you know manage their investors manage their distributions do taxes all those sorts of things and so it turns into an active business and on top of that it's expensive because we are creating a second syndication a second fund to invest in that uh lead sponsor Target Fund um so that's the the problem that's always been the solution the fund of fund has always been the right solution but those problems that I   just mentioned are why it hasn't been widely adopted but you're seeing a big shift in the market as we're able to provide a more affordable option and a and a solution to bringing all those different services that a fund manager would normally have to go out and get themselves and putting it into a package yeah that makes a lot of sense and so like we said we're seeing the same thing where people are um they've been investing they they like what they're doing they have their friends and their family asking about the different deals   they're doing and then they have thought well hey I mean that's I can make money doing this and what most people have done historically is cgp model and for those that are unfamiliar with that is basically you raise money directly into the lead sponsor syndication or entity and then you get uh granted certain General partner shares for doing that but and you're the you're the attorney so I'm I'm gonna say at a very high level as I understand it by by doing that you are um uh well you can't raise   money and get paid for it unless you're a registered broker dealer unless you're General partner and uh are continuing to operate the uh the deal the business and have an active role in it but most people that are just raising capital or just want to raise Capital as um you know on the side of what else they're doing that's not a realistic expectation so what what we've seen I'm sure you probably see a lot more than me is these different uh uh folks that are raising capitalist cgps and then you know this   this new SP has about 10 different CPS on the list on the roster here and it's pretty hard to make an argument that they're all actively participated in managing the deal because you just don't need that many people right if it's the same deal and so then you kind of run into compliance risk and you just you don't want to mess with that I mean that's that's just let's leave it there and so the fun of fund model has always been around it's basically you create your own fund and as your own fund manager you're exempt from um uh some of   these uh securities issues to basically raise capital from your investors into your fund then that fund invests into the uh kind of the mothership fund or the the lead sponsors fund and by doing that you um you know it's you're in the in the you're not in the gray area anymore where it can kind of be um maybe not great from a compliance standpoint and the challenge as you mentioned though is it can be expensive maybe it's a little complicated to know how toell up and I'm not really a professional fund manager   how what do I know um but that's that's what you're doing now at triest and we've had Travis Smith on the podcast before so if you haven't listened to that episode um it's probably a year or so ago we'll put the put the link in the show notes because it's a um a great episode talking about tribe vest and what what you guys are doing really trying to from my perspective simplify the access and the kind of backend back office functions of um both for Passive investors and for fund managers to continue to increase   access to more to more deals so talk a little bit about kind of what you guys do at at tribe vest and to kind of help people um you know both from a passive standpoint that's want to direct the investors past investors that don't really want to do it as a business but then also kind of the new fund manager programs that you guys are putting together to help people that want to kind of activate their Network want to you know use this as a way to make money and um do it without having to be an expert in all the the backend side of   things absolutely at at Trio I'm the chief legal officer for tri best I help create the fun to fun product that we have out there right now it makes it simple TurnKey and affordable for anyone to really start a capital raising business um all those things that I mentioned before opening your business bank account um starting your LLC drafting your offering documents um getting your EIN onboarding your investors creating your cap table doing your distributions doing your taxes all those things you normally have to put   together and find different uh platforms and different people like attorneys and CPAs to help you out and put those put the the fund of fund together we do that we put it in a fund of fund we call it a fund of Fund in a box it's really a Lego block that you can use and invest in a deal like with Aspen if Aspen has a fund you can create your own fund you try best bring in your five or 10 uh best friends that want to put in some money you can carve out a piece for yourself so you actually get paid a fee a front   maybe you get paid a fee um during the uh hold period and then perhaps you get a percentage of the equity on the back end so it can be a very lucrative business for someone to get started and because triest makes it so easy to do it meaning put all these different services and things together for you it it really anyone can do it yeah that's so cool and we we've worked with you guys and have seen it in action and you know to say f Fund in a box sounds almost uh trite because it sounds like can you really do   that but it's it's cool because you guys have have solved it and and not only have you solved it but it's also pretty cost- effective right I think one of the big challenges with the fun of fund is generally you can invest if you kind of pull Capital together in a fund you can invest at better terms with a sponsor so you can have a little more margin that you can kind of get paid from and your investors still make the same returns um but if you have a lot of legal costs a lot of ongoing um kind of portal and   back office expenses and tax returns everything else then it gets kind of expensive and eats away at the margins that you know you're hoping to to use to pay yourself so you guys have kind of Crea a really streamlined um kind of off-the-shelf product that can fit majority of of offerings and make it pretty easy right that's right it gets really difficult to make it work that's again the fund of fund like we've talked about it's always been a solution it's just really expensive and really hard to put   it together um especially for someone that that isn't a professional Capital Riser um that just wants to put together $500,000 a million a million5 something like that it it it doesn't even make sense cost wise in the old way of doing it you're going to pay a Securities attorney minimum of like let's say 15,000 maybe 20 maybe $25,000 to put one of these together maybe even more I used to work at a big Law Firm where it cost $75,000 it's crazy the expenses that add up and that's just the legal piece that   doesn't include all the back office administration things that we talked about doesn't include um engaging with a CPA to do your taxes it doesn't include all those things that's just the legal cost by itself and tribe best has made it super inexpensive to be able to do this and to be able to do it time and time again so it works with a $500,000 raise it works with a million dollar raise you don't have to raise $20 million to make it work from an affordability standpoint yeah that makes sense so do   you guys also have like any kind of education or different coursework to help people that are you may want to make the transition of like yeah I think that that sounds like something I could do I my friends are always asking me what what I'm investing in and it wouldn't be that hard to go get five 10 friends to go and invest and create a fund and you know but they just don't they've never done it before they never thought about it till just now so right you guys have I know you're really more given the solution but do you also have   like any kind of education or do you have resources you guys can point people to to learn more about what does it look like to you know what what's what's the process you have to go through to um kind of go from idea to actual uh you know making a fund yeah yeah I'll tell you we don't have any formal legal or sorry formal educational things out there at the moment but we are working on that um but we have made it so simple that we can jump on a zoom call with anyone that that's in is potentially   interested in being a capital raiser and putting together a fund of fun and walk you through a pitch deck and it should be pretty clear what you need to do because we handle basically everything you you put together your investors you put together your terms and how you're going to get paid and then we'll be able to do kind of all that back office all that legal all those things that you don't want to know or don't want to do we handle all it yeah makes sense awesome well kind last question I just   love to get your insights on just the market in general for Alternatives and and private placements and you've obvious been in this space for over a decade and we've been in the space for about 11 years now as as an operator and it just feels I mean it's it's already been the amount of capital that's kind of come into kind of private Equity into real estate into private placements in eneral it's totally shifted the game but it also feels like we're still kind of early Innings right it still feels like   people are just discovering this for the first time and and even the conversation we're having of you know um activating people to raise Capital right in a compliant way that's just an easy way because you guys are creating a system that just reduces friction to continue to increase more Capital to come into the space like do you feel the same thing are you seen I know there's kind of some potential proposed regulation to you know increase the requirements for accreditation and you know there's   always a battle going back and forth on on that but what's kind of your sentiment just at a broader level of just the alternative kind of private placement space in over the next 10 years yeah I mean I'm I'm bullish right like we're we're kind of in a little bit of a lull right now um you'll hear that capital's a little bit harder to come by investors are holding on a little bit tighter um but that's because there's actually deals out there right now I mean said right now is actually a great time to invest right now is a great time   to invest because prices are are depressed a little bit um investors are a little bit reluctant to invest um there are less buyers in the market because a lot of them are getting kind of washed out um but there are some properties coming online through foreclosures through things like that this is where you know when you talk about during good times you're like oh man I cannot wait until there's blood in the streets and I'm going to pounce on it I'm want to pounce on those opportunities that time is right now it   it's not it's not you're you can be waiting on the sideline for years and you're gonna you're gonna miss it it's right now right now is the time to to figure out how to invest how to raise Capital how to do deals how to make them work because right now it's difficult to make them work that's that's the truth of it right now is the time to act and you're going in five years from now for instance you're going to look back to this time and say man I wish I would have got started because we're we're   we're going to be in the upswing again very soon totally no I was just uh I was a one of the guys I follow who's been in real estate for a long time he was talking and reminiscing about he bought uh I think he said three dozen single family homes between uh 2009 and 2011 right and he's held on to them since then and you know looking back he's like the only thing he wishes he did was buy more right because it's but at that point it was you know everything was on sale everyone was like real estate's over and it's it's so hard to   be contrarian I think it's Warren Buffet this said be uh you know fearful when everyone else is greedy and greedy when everyone else is fearful right it it's it's a simple idiom that makes sense but it's really hard to do and right now we're kind of in that that time where investors are reticent there's a lot of pressure on deals right now that's kind of creating a great buy opportunity you know we're seeing I know you're seeing it and uh you know I think I agree with you I think it's a great time to be to   be jumping in right now and uh Seth thanks so much for coming on man what's what's the best way for folks to get a hold of you and learn more about uh your law firm uh raise law and try vest if they want to learn more about what that looks like for sure uh the best place where I keep all my links is Seth Paul bradley.com um you'll have links to try best there links from my uh law firm and social media it's all posted on there okay we'll put that in the show notes and definitely appreciate you coming on   today set it awesome all right Ben appreciate it [Music] [Applause] [Music] man Links from the Show and Guest Info and Links https://www.youtube.com/watch?v=oiRq38II33s&t=1047s https://www.instagram.com/p/C5mNnwsv2fs/  https://aspenfunds.us/private-credit- https://www.investwithaspen.com/free-economic-report https://www.linkedin.com/in/benwfraser/ https://www.linkedin.com/company/aspen-funds/ https://www.instagram.com/aspenfunds/   Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en

how to write off international travel - final

In this episode of the Growing Your Firm Podcast, host David Cristello welcomes Ben Taylor, CEO of SoftLedger. They discuss Ben's journey from being a practicing CPA for over ten years to becoming a software entrepreneur. The conversation highlights a growing trend among CPAs transitioning into technology companies, with examples of others in the industry, such as Jackie Meyer and Kelly Mann, who have made similar shifts. David and Ben explore the motivations behind this movement and the increasing desire within the accounting community to create innovative tools and software. Tune in to learn more about this exciting evolution in the world of accounting and technology.

Alicia tackles a major issue she's encountered while training CPAs: the outdated practice of using journal entries to fix miscategorized transactions instead of properly reclassifying them. She explains why this traditional approach fails in the modern QuickBooks environment, where AI learns from past categorizations and business owners need accurate data throughout the year, not just at year-end. The episode focuses on the powerful Reclassify Transactions tool and how it can save time while ensuring data accuracy across all reporting periods.Sponsors(00:00) - Introduction and Wheel of Rants (00:31) - The Reclassify Tool: A Modern Approach (04:17) - Creating Rules for Accurate Categorization (07:34) - Using the Reclassify Transactions Tool (14:34) - Conclusion and Final Thoughts Resources LinkedIn Group: https://www.linkedin.com/groups/14630719/YouTube Channel: https://www.youtube.com/@UnofficialQuickBooksPodcastEmail: unofficialquickbookspodcast@gmail.comLinks from Episode Use this link to access Reclassify from any QBO file, even if you don't have the QBOA briefcase: qbo.intuit.com/app/reclassify-transactionBDO Alliance: https://www.bdo.com/about/bdo-alliance-usaAlicia's QBO Hands-on Training: http://royl.ws/QBO-complete?affiliate=5393907Sign up to Earmark to earn free CPE for listening to this podcasthttps://www.earmark.app/onboarding

In this episode of Insight, host Ariel Backus chats with Bob Doyle, president and CEO of the Michigan Association of CPAs and MSAE board member. Bob shares his unique career journey from engineering to association leadership and offers a look into the mission and work of MICPA—from advocacy and education to building community among CPAs. The conversation also covers how the CPA profession is evolving, including Michigan's new licensure pathway and the growing importance of embracing AI and innovation in accounting.   MSAE Insight is produced by Association Briefings.

Title: What They Don't Tell You About Raising Capital (Until It's Too Late) with Ben Fraser Summary: In this episode of the Invest Like a Billionaire podcast, host Ben Frasier interviews Seth Bradley, the Chief Legal Officer at TribeVest and an experienced securities attorney. They discuss Seth's transition from a big law background to becoming a passive investor and then an active capital raiser, detailing the steps involved in his journey. Seth shares insights on private placements and syndications, emphasizing the importance of understanding legal documents such as Private Placement Memorandums (PPMs) and operating agreements. The conversation also highlights key trends and shifts in capital raising, particularly the emergence of the fund-to-fund model, which allows passive investors to leverage their networks without taking an active role in deal management. Furthermore, Seth talks about the services provided by TribeVest to simplify the investment process for both passive investors and new fund managers. They touch upon the current state of the alternative investment market, discussing the advantages and opportunities available amid economic challenges. Links to listen and subscribe: https://podcasts.apple.com/us/podcast/155-moving-from-passive-to-active-investor-feat-seth/id1587171662?i=1000652125962 Links to watch and subscribe: https://www.youtube.com/watch?v=oiRq38II33s&t=1047s Bullet Point Highlights: Seth Bradley's Journey: Transitioned from big law to passive investing, and now to active capital raising. Understanding Legal Documents: Importance of critically reviewing PPMs and operating agreements as an investor. Red Flags in Investments: Identifying key terms and clauses in legal documents that can affect investor rights and returns. Fund-to-Fund Model: Insights into how new capital raisers can operate without needing to be actively involved in deals. TribeVest Services: Overview of how TribeVest supports fund managers with a streamlined legal and operational framework. Market Trends: Discussion on the evolution and current opportunities within the alternative investment space. Advice for Investors: Encouragement to dive into the market now to capitalize on upcoming opportunities as conditions stabilize. Transcript: hello future billionaires welcome back to another episode of the invest like a billionaire podcast today's guest is Seth Bradley very fun to talk with him he's friend of mine for several years and he's the chief legal officer at tribe vest which is a really cool company if you haven't heard of them we actually had their CEO and founder on about a year ago but they're kind of doing a really new cool push that I'm going to talk about in a sec but his background he's a big law Securities attorney spent a lot of time in kind of   corporate world transition really to kind of becoming a passive investor invest a lot of syndications so he talks a lot about his journey making that transition kind of going to generate passive income Financial Independence but then he's actually shifted back to becoming an active Capital Riser and he's seen a lot of people make this transition that been investing for a little bit and now want to kind of activate their Network and some of the stuff they're doing at Tri bestest is making this really really easy for   people so it's a really cool interview we kind of hit a lot of his journey from his perspective as a Securities attorney what are some of the big things you got to focus on when you're reviewing legal documents what are the red flags yellow flags Etc and then he kind of shares a little bit about some of the things and the trends going on in the kind of private placement syndication and capital raising worlds that if you haven't heard about some of these ideas you definitely want to tune in and listen because it's pretty cool I'm   seeing the same thing on my side of things so you're going to enjoy this episode he's a very very sharp guy and a lot of great insights that he shared I think you're going to love this episode please enjoy this is the invest like a billionaire podcast where we uncover the alternative investment and strategies that billionaires use to grow wealth the tools and tactics you'll learn from this podcast will make you a better investor and help you build Legacy wealth join us as we dive into the world   of alternative Investments uncover strategies of the ultra wealthy discuss economics and interview successful investors looking for Passive Investments done for you with and funds we help accredited investors that are looking for higher yields and diversification from the stock market as a passive investor we do all the work for you making sure your money is working hard for you in alternative investments in fact our team invests alongside you in every deal so our interests are aligned we focus on macr   driven alternative Investments so your portfolio is best positioned for this economic environment get started and download your free economic report today welcome back to another episode episode of the invest like a billionaire podcast I am your host Ben Frasier and joined by a very exciting guest Seth Bradley I've know Seth for several years he is the managing partner at Ray's law and the chief legal officer at tribe vest and uh Seth and I have done some business over the years and different things he's an   attorney and uh a very experienced Securities attorney and even has his own podcast called the passive income attorney podcast and so he comes with a really unique perspective both being an entrepreneur investor as well as an attorney gives him some really unique insights in this space of kind of private placements alternative Investments and super excited to have on the show so Seth thanks for coming on man Ben appreciate it man we finally got around to to recording this really really appreciate it man yeah it was   kind of fun because we reached out a couple years ago and uh we're we're gonna do something that never worked out and then all of a sudden you're ready to do the podcast tour and Pops back up three years later so hey let's do good I'm I'm gay man so looking forward to doing this now so give a little bit of uh context for your background uh for those who maybe aren't familiar with you and just kind of what you do in kind of the areas of expertise that you focus on as an attorney sure man so I worked in   big law for about seven years um most recently at a top three globally ranked Law Firm um as a real estate started out as a real estate attorney made my way over to Securities um at that point um I started kind of getting that you know mo as most entrepreneurs do that feeling like you want to do something else you don't want to have all these bosses you want to get out there and do your own thing um but you know I'd worked pretty hard to get where I was so I wanted to make sure that I knew what I was getting   myself into um I'd already been working with Real Estate Investors and folks like that as my clients um started talking to them started talking to some of the partners in my in my firm about how they invest what they do um really Lear learned about you know passive investing um and making my way kind of to the equity side and that's really where I my journey began as a passive investor in in syndications so I invested in a number of those um and also invested actively you know I kind of did the the Bigger Pockets uh you   know path where I listened to Bigger Pockets I did a you know house hack I did fix and flips I did buy and hold single families things like that as well as past investing in larger Investments um and at that point I realized hey I've got this network of attorneys and other folks that I can raise capital from so I made my way from passive investor to active investor man so you've done done the the full circle here I love it so started Big Lot and your bio says you Clos billions of dollars in real estate   transactions over the past decade so you've you've seen a lot of deals um I'd be curious because you know a lot of people that maybe newer to real estate investing newer to Alternative investments in general and just the world of private placements they kind naturally think hey the only way I can do it is you know the Bigger Pockets path which is a great path if you want to go and you know do it actively and have a second job so to speak where you go and buy your own real estate and and fix it up or work with contractors to   fix it up but you went straight into syndications which in a lot of ways uh fits better for uh people that are working professionals and you know don't want to necessarily trade time for wealth building already have a great income uh generator through the their job or their business and they want to just redeploy that into syndications so what was kind of the journey for you understanding the world of syndications and really with your background um insecurities law and how did you kind of get comfortable with that and what was   the Journey For You diving head first into syndications early on yeah I mean you really have to have skills uh money or time that those are the three things you can really offer right so it depends on how much of each one of those you have as to what your investment profile should look like and what you should get started in um I was actively wanting to participate in deals from the get-go but I did already have exposure from my real estate uh real estate practice to syndications and and watching other   people raise Capital knowing that those types of Investments are out there so I think I had an advantage there because prior to that I had no idea the only thing I knew was kind of that Bigger Pockets path it's like okay well house hack into a single family or dup or a duplex and then rent the other side out and then Fix and Flip This or wholesale that um I didn't really know about syndications other than through um my my law practice so I think I had that Advantage um get getting that exposure   and being able to transition to that quicker yeah talk a little bit about I mean your podcast is called passive income attorney and your your big goal is passive income and what was really kind of the idea behind that or why was that your primary goal and what does that mean to you yeah I mean the idea behind that was to be passive and I think we kind of as entrepreneurs we go back and forth I think we all want to end up on the completely passive side eventually but sometimes you don't get there as quickly   if you don't go on the active side for a little bit and I think I'm I'm seeing that a lot myself I did that I started investing passively and now I went to the active side as an active syndicator as a fund manager raising capital and participating in deals even on the operational side um because you can accelerate quicker that way if you the more time and effort that you put in the faster you can accelerate now a lot of folks out there especially pive investors listening if their doctors dentist lawyers they don't have time for   that so they need to invest passively that's probably the best use of their time because their highest and best use of their time is in their career being a doctor a dentist a lawyer an engineer where they're making a lot of money in their active income it doesn't really make sense that for them to start a fix flip business or wholesale business or even a syndication business really out of the gate until you figure out what what you want to do it makes more sense to take that active income put it into   passive investment vehicles that don't take any time away from your practice Yeah I love that what' you say there's you you one of three things skills time or money right and so one of those you're going to be trading to generate more passive income or wealth and wherever you're at in the Spectrum and where you're willing to kind of trade for for that invest I love that it's very uh makes a lot of sense so talk a little bit you know I want to get to what you said this in the minute kind of transitioning kind of bluring the line   of going back and forth between passive and active I think this is really interesting I've seen the same Trend but before we get there you know a lot of a lot of our listeners you know that are maybe newer to syndications newer to passive investing they um get a little bit shell shocked when they see a PPM or a set of legal docs to review for a deal and they they don't know what should I be focusing on what should I be looking for what are potential red flags or yellow flags and you know from your perspective and   I'm sure you probably saw a lot of things early on they like okay that's interesting or um you know making that transition you already had a leg up uh given your background but what are some kind of key things that you know maybe even coming into it you already had a leg up but now even 10 years later down the road have learned and things that you said you know hey this is way more important than I thought it was originally from from a pure passive standpoint because I think that's a roadblock for a lot of people yeah yeah   and you know it's intimidating right when you get that first PPM which is going to have exhibits to it and the exhibits are going to be an operating agreement subscription agreement maybe um maybe some marketing materials a business plan things like that you're looking at at least a 100 page document maybe it's 200 pages and if you're not a lawyer and used to looking at 100 page documents that is intimidating you're like what am I supposed to do this is going to take me you know this is like a month's worth reading if I'm actually   going to read this thing and really most past investors don't read it um but you should I mean you should at least start reading them um because it gets it gets easier and easier to read because they're all going to be very similar they're all going to have a similar structure and similar pieces and things to look out for I think one really important thing and you might not be able to do this the first time but you can start um kind of thinking about it but just really matching the PPM to the oper room because the PPM should really   be um kind of a a summary so to speak of the operating agreement because the operating agreement is the meat of what's actually going to be the the terms uh within that LLC within that investment and at the end of the day if something goes wrong or not even goes wrong but if there if there's some sort of um agreement or disagreement that needs to be figured out you're going to look at the operating agreement not necessarily the PPM to figure out uh what the next step is what is the mechanism for fixing this problem so you   know just making sure that the people PM accurately reflects what the operating agreement says is very important and and then taking a step further that the operating agreement and the PPM match what the lead sponsors are telling you let's say in the marketing materials or the webinar like just making sure that there's a clear picture between all the marketing materials the webinar um and the legal documentation is really important and sometimes if it doesn't make sense or there are certain terms   that don't match up you know maybe they're not as meticulous as they should be and you need to look elsewhere that that's a really important thing to look out for um kind of coming back to your question you know when when you're first starting as a passive investor all you're really looking at is the returns right you're comparing kind of your projected returns in this deal to your projected returns in this other deal and you might get a 2% more irr return projected in this one than that one so   you're going to go with this one but at the end of the day those are just projections right those are just projections and those can be manipulated those are based on assumptions from the lead sponsor and those are not the most important things the most important things are the the sponsor and their track record what they've done how they've performed um and you know the market and the deal itself but just those projected returns can be manipulated so that's really you know it's important at the beginning or at   least you think it's important and then later on you become a more um wiy vet in passive investing you'll realize it's not as important as as as some other things like hey are your fees aligned things like that like what are the Voting Rights like how what if something happens and the manager is doing a terrible job how can you possibly get them out like what are those mechanisms um what are the mechanisms for a capital call when things go wrong what what happens those are the those are the more   detailed things and the nuances you need to look at as a past investor rather than just looking at the projected returns that's a lot of lot of good nuggets right there you just listen to that skip back a few minutes and listen to it again because that's really good I think you're so right right if it just it can feel intimidating to look at a 100 page 200 Page document and where do I start but just start at the beginning just start reading it it just got to skim read it skim read it and just the more   you get familiarized with um these different document sets the more they all kind of seem similar over time and you can kind of notice the the things that are common among different deals and then you also kind of notice the things that pop up as oh that's kind of unique or that that's kind of different than what I've seen in other deals and that's maybe outside of the norm um and just kind of getting familiarized with it you're going to pick up a lot on it but I think you hit a few of the sections that I think are really   important that a lot of people kind of glaze over because if you're getting just looking at the here's the irr projection here's where turns are going to be like you said there's uh a lot of assumptions that go into what those numbers are derived from and you know I always come back to my banking background you know risk adjusted returns right because every element of uh every deal you know whatever return you're projecting there's different levels of risk and if you're you know taking a lot more risk in a particular   deal or strategy or structure the same level of return it's it's not Apples to Apples right and so understanding what that is from a deal standpoint but there's also risks uh some of the points you made within the legal structure and so he's saying go straight to the operating agreement as a starting point because that's ultim timately what's going to govern the the deal and the mechanisms for potentially firing the sponsor as a manager or like you said the capital call and the waterfall section understanding how does do   profits flow through the entity and what are the splits between them what are some things that maybe 10 years down the road now invested I don't know how many deals you've invested in passively but you look back you're like oh man you know what I I read that section and you know I kind of knew that maybe was a little outside the norm but I was so excited about the deal didn't really wasn't too concerned about it now looking back like oh man now that was that was a good learning experience because now you know maybe I can't vote   out the manager or you know different things that you would say looking back are more important that maybe you put weight on in the front end and maybe some examples of um you know especially right now I think a lot of a lot of deals that people invested over the past few years you know unfortunately are requiring Capital calls or are kind of headed in a direction that may not be good and um you know maybe it's the fault of the operator maybe it's not but if it is a fault of the operator What mechanisms do you have and what voting   rights do you have as a passive investor and talk a little bit about that because I think that's going to be very relevant especially over the next few years is sure certain older deals are kind of not hitting the projections they thought originally yeah I mean I think I already touched on most of them from a high level but like for instance um voting out the manager like if the manager is doing something um fraudulent or misrepresented what they were doing or you know really just doing a terrible   job is probably not a reason enough to get them out but it could be um if it gets to a certain certain point um but that's really one thing to to look for to see like what the mechanism is like does it take a unanimous Vote or does it take a majority vote or does it take a majority or super majority of each share class each membership class within the LLC so it it and typically they're set up so it's really difficult to get the manager out right because the lead sponsor is going to be the manager and   they're the ones that are going to be making all the decisions and they don't want to lose control so they wanted to make it as hard as possible um and still make it legal um to stay in that seat and not get voted out so you know you will see some pretty onerous um Provisions within the operating agreement to be able to get them out but there should be a reasonable way to do it whether that's a super majority vote perhaps that's that's reasonable so super majority vote um in the event of a misrepresentation fraud you know any   sort of like bad boy act by the the manager or if their bad performance reaches the level of you know negligence or something like that there just needs to be a mechanism to get them out that's that's just one example when you had mentioned Capital calls as well so Capital calls it's like what is the mechanism when the LLC or or the syndication needs additional operating expenses to survive what what is the mechanism to do that like can is the first step to actually do a capital call and is that Capital Call Mandatory   meaning that the investors have to participate um on a proat a basis or that's not typical so if you that's one thing to look out for if it is mandatory that you do and and if you don't then you're basically out or you lose uh you know an unreasonable amount of your Equity if you don't participate then perhaps that's a red flag right like if you don't participate um well I should say the capital call should be optional and if you don't participate that's okay um but you will most likely be watered   down your Equity will get watered down on a prata basis rather than something above a pro basis right so that's an example you're saying of if it's required which is uncommon right that that's that's a red flag potentially um or if you get diluted a higher than the proat mount is another another negative and you're exactly right I mean I think you know part of this is when you're when you're investing passively you're you're giving up control of of operating the deal to the sponsor right is so that that's kind of   the the trade-off is you're hiring experts you're investing with experts that hopefully know what they're doing so that you don't have to be doing the day-to-day stuff and so it can be difficult to replace managers and and uh you know have uh impactful voting rights uh that can change the outcome unless there's fraudulence or negligence but I think it kind of goes to the point too of understanding what these kind of parameters are and what's normal and then also like I think you can pick up a lot of what you're saying and just the   congruence between PPM the operating agreement the the offering memorandum the webinars and um and then really the alignment of Interest right because if ultimately if the sponsor stands to lose alongside the investors if they're not just getting rich just off of fees and you know does they don't have a whole lot of skin in the game then ultimately it might not be you know a great deal but if they have a lot of lot skin in the game and even if it's written in these certain ways it doesn't necessarily mean it's a bad a bad   investment so okay love it get a little bit in the weeds there for for some people and if this is you know um newer to you I I definitely encourage you um to just start this you know opening up the bpms or reading them and you're going to pick up a lot by doing that and then just ask questions right and I think it's a great thing too that if you're reading the PBM and reading operating agreement to ask questions of the sponsor and that's usually pretty indicative of one how well do they know their own documents and to how willing   are they uh to address certain questions that maybe maybe concerns to you right and I think you can actually get a really good sense of um how they and how they respond of of what that interaction is going to be so love that thanks for some of that Insight Seth I'd love to shift a little bit uh you mentioned something earlier I I wanted to come back to is you you kind of you have said before you the future of capital raising is kind of Shifting and evolving and I think a lot of people are realizing and   I've seeing the same thing too right I'm a a coach and you know masterminds for Capital risers and this fun to fund model is becoming very popularized and people that maybe think oh I'm not really a capital Riser or you know that's that's not my you know what I've learned to do went to school to do or whatever or realizing hey actually I've been investing passively for a while I have a pretty great Network because I'm around a lot of accredited investors I've done enough to kind of know a good amount and   I can actually turn this into a business right and so talk a little bit about what the fun to fund model means and maybe someone that's in that boat where what you said is I think I'm gonna go 100% passive but then you know you're also learning a lot along the way and you have a a network that maybe you can activate and also raise capital and get get paid to do it compliantly that's right and and you said it and I'm seeing it time after time where past investors they invest in a number of deals and and   you know folks that are investing in these deals typically have a little bit of money and they probably have friends that have money as well and their their friends start asking them about the deals that they're investing in um and they start thinking hey you know what what can I can I get paid can I have a is there a business here that I can develop that I can build um by bringing in all my friends and family that might also be wealthy might be able to put these These funds together um and invest   in the deal together um you can certainly do that but you start to run into lots of Securities lots of rules and regulations that some people know about and some people don't you'd be surprised uh um that you know you see people out there raising capital in ways that they shouldn't do it um but what's great about the fund of funds model is that you know you're not a what's called a CP so you're not an active partner with the lead sponsor that's kind of the I'll call it the old way and I you know   I've been saying that the CP model is dead just to kind of put it out there that um you know we shouldn't be raising Capital with lead sponsors and then not doing anything else not participating in deal and and having an active role if you're a true cgp you need to have an active role in in the deal and that's kind of what deters um passive investors and doctors and dentists and lawyers and people like that that already have a career they don't want to take an active role right like they don't want to do   the asset management or manage the property manager or talk to tenants or anything like that and that's where the fund of fund solution comes in the fund of fund solution is really creating another syndication or another fund um that invests into the lead sponsor syndication or fund and that's where the name fund of fund comes from now traditionally the issue with that is well it does come with responsibilities for the fund manager they they have to put the deal they have to put their own fund together they have to put their cap   table together open a business banking account form an LLC get a Securities attorney um you know manage their investors manage their distributions do taxes all those sorts of things and so it turns into an active business and on top of that it's expensive because we are creating a second syndication a second fund to invest in that uh lead sponsor Target Fund um so that's the the problem that's always been the solution the fund of fund has always been the right solution but those problems that I   just mentioned are why it hasn't been widely adopted but you're seeing a big shift in the market as we're able to provide a more affordable option and a and a solution to bringing all those different services that a fund manager would normally have to go out and get themselves and putting it into a package yeah that makes a lot of sense and so like we said we're seeing the same thing where people are um they've been investing they they like what they're doing they have their friends and their family asking about the different deals   they're doing and then they have thought well hey I mean that's I can make money doing this and what most people have done historically is cgp model and for those that are unfamiliar with that is basically you raise money directly into the lead sponsor syndication or entity and then you get uh granted certain General partner shares for doing that but and you're the you're the attorney so I'm I'm gonna say at a very high level as I understand it by by doing that you are um uh well you can't raise   money and get paid for it unless you're a registered broker dealer unless you're General partner and uh are continuing to operate the uh the deal the business and have an active role in it but most people that are just raising capital or just want to raise Capital as um you know on the side of what else they're doing that's not a realistic expectation so what what we've seen I'm sure you probably see a lot more than me is these different uh uh folks that are raising capitalist cgps and then you know this   this new SP has about 10 different CPS on the list on the roster here and it's pretty hard to make an argument that they're all actively participated in managing the deal because you just don't need that many people right if it's the same deal and so then you kind of run into compliance risk and you just you don't want to mess with that I mean that's that's just let's leave it there and so the fun of fund model has always been around it's basically you create your own fund and as your own fund manager you're exempt from um uh some of   these uh securities issues to basically raise capital from your investors into your fund then that fund invests into the uh kind of the mothership fund or the the lead sponsors fund and by doing that you um you know it's you're in the in the you're not in the gray area anymore where it can kind of be um maybe not great from a compliance standpoint and the challenge as you mentioned though is it can be expensive maybe it's a little complicated to know how toell up and I'm not really a professional fund manager   how what do I know um but that's that's what you're doing now at triest and we've had Travis Smith on the podcast before so if you haven't listened to that episode um it's probably a year or so ago we'll put the put the link in the show notes because it's a um a great episode talking about tribe vest and what what you guys are doing really trying to from my perspective simplify the access and the kind of backend back office functions of um both for Passive investors and for fund managers to continue to increase   access to more to more deals so talk a little bit about kind of what you guys do at at tribe vest and to kind of help people um you know both from a passive standpoint that's want to direct the investors past investors that don't really want to do it as a business but then also kind of the new fund manager programs that you guys are putting together to help people that want to kind of activate their Network want to you know use this as a way to make money and um do it without having to be an expert in all the the backend side of   things absolutely at at Trio I'm the chief legal officer for tri best I help create the fun to fun product that we have out there right now it makes it simple TurnKey and affordable for anyone to really start a capital raising business um all those things that I mentioned before opening your business bank account um starting your LLC drafting your offering documents um getting your EIN onboarding your investors creating your cap table doing your distributions doing your taxes all those things you normally have to put   together and find different uh platforms and different people like attorneys and CPAs to help you out and put those put the the fund of fund together we do that we put it in a fund of fund we call it a fund of Fund in a box it's really a Lego block that you can use and invest in a deal like with Aspen if Aspen has a fund you can create your own fund you try best bring in your five or 10 uh best friends that want to put in some money you can carve out a piece for yourself so you actually get paid a fee a front   maybe you get paid a fee um during the uh hold period and then perhaps you get a percentage of the equity on the back end so it can be a very lucrative business for someone to get started and because triest makes it so easy to do it meaning put all these different services and things together for you it it really anyone can do it yeah that's so cool and we we've worked with you guys and have seen it in action and you know to say f Fund in a box sounds almost uh trite because it sounds like can you really do   that but it's it's cool because you guys have have solved it and and not only have you solved it but it's also pretty cost- effective right I think one of the big challenges with the fun of fund is generally you can invest if you kind of pull Capital together in a fund you can invest at better terms with a sponsor so you can have a little more margin that you can kind of get paid from and your investors still make the same returns um but if you have a lot of legal costs a lot of ongoing um kind of portal and   back office expenses and tax returns everything else then it gets kind of expensive and eats away at the margins that you know you're hoping to to use to pay yourself so you guys have kind of Crea a really streamlined um kind of off-the-shelf product that can fit majority of of offerings and make it pretty easy right that's right it gets really difficult to make it work that's again the fund of fund like we've talked about it's always been a solution it's just really expensive and really hard to put   it together um especially for someone that that isn't a professional Capital Riser um that just wants to put together $500,000 a million a million5 something like that it it it doesn't even make sense cost wise in the old way of doing it you're going to pay a Securities attorney minimum of like let's say 15,000 maybe 20 maybe $25,000 to put one of these together maybe even more I used to work at a big Law Firm where it cost $75,000 it's crazy the expenses that add up and that's just the legal piece that   doesn't include all the back office administration things that we talked about doesn't include um engaging with a CPA to do your taxes it doesn't include all those things that's just the legal cost by itself and tribe best has made it super inexpensive to be able to do this and to be able to do it time and time again so it works with a $500,000 raise it works with a million dollar raise you don't have to raise $20 million to make it work from an affordability standpoint yeah that makes sense so do   you guys also have like any kind of education or different coursework to help people that are you may want to make the transition of like yeah I think that that sounds like something I could do I my friends are always asking me what what I'm investing in and it wouldn't be that hard to go get five 10 friends to go and invest and create a fund and you know but they just don't they've never done it before they never thought about it till just now so right you guys have I know you're really more given the solution but do you also have   like any kind of education or do you have resources you guys can point people to to learn more about what does it look like to you know what what's what's the process you have to go through to um kind of go from idea to actual uh you know making a fund yeah yeah I'll tell you we don't have any formal legal or sorry formal educational things out there at the moment but we are working on that um but we have made it so simple that we can jump on a zoom call with anyone that that's in is potentially   interested in being a capital raiser and putting together a fund of fun and walk you through a pitch deck and it should be pretty clear what you need to do because we handle basically everything you you put together your investors you put together your terms and how you're going to get paid and then we'll be able to do kind of all that back office all that legal all those things that you don't want to know or don't want to do we handle all it yeah makes sense awesome well kind last question I just   love to get your insights on just the market in general for Alternatives and and private placements and you've obvious been in this space for over a decade and we've been in the space for about 11 years now as as an operator and it just feels I mean it's it's already been the amount of capital that's kind of come into kind of private Equity into real estate into private placements in eneral it's totally shifted the game but it also feels like we're still kind of early Innings right it still feels like   people are just discovering this for the first time and and even the conversation we're having of you know um activating people to raise Capital right in a compliant way that's just an easy way because you guys are creating a system that just reduces friction to continue to increase more Capital to come into the space like do you feel the same thing are you seen I know there's kind of some potential proposed regulation to you know increase the requirements for accreditation and you know there's   always a battle going back and forth on on that but what's kind of your sentiment just at a broader level of just the alternative kind of private placement space in over the next 10 years yeah I mean I'm I'm bullish right like we're we're kind of in a little bit of a lull right now um you'll hear that capital's a little bit harder to come by investors are holding on a little bit tighter um but that's because there's actually deals out there right now I mean said right now is actually a great time to invest right now is a great time   to invest because prices are are depressed a little bit um investors are a little bit reluctant to invest um there are less buyers in the market because a lot of them are getting kind of washed out um but there are some properties coming online through foreclosures through things like that this is where you know when you talk about during good times you're like oh man I cannot wait until there's blood in the streets and I'm going to pounce on it I'm want to pounce on those opportunities that time is right now it   it's not it's not you're you can be waiting on the sideline for years and you're gonna you're gonna miss it it's right now right now is the time to to figure out how to invest how to raise Capital how to do deals how to make them work because right now it's difficult to make them work that's that's the truth of it right now is the time to act and you're going in five years from now for instance you're going to look back to this time and say man I wish I would have got started because we're we're   we're going to be in the upswing again very soon totally no I was just uh I was a one of the guys I follow who's been in real estate for a long time he was talking and reminiscing about he bought uh I think he said three dozen single family homes between uh 2009 and 2011 right and he's held on to them since then and you know looking back he's like the only thing he wishes he did was buy more right because it's but at that point it was you know everything was on sale everyone was like real estate's over and it's it's so hard to   be contrarian I think it's Warren Buffet this said be uh you know fearful when everyone else is greedy and greedy when everyone else is fearful right it it's it's a simple idiom that makes sense but it's really hard to do and right now we're kind of in that that time where investors are reticent there's a lot of pressure on deals right now that's kind of creating a great buy opportunity you know we're seeing I know you're seeing it and uh you know I think I agree with you I think it's a great time to be to   be jumping in right now and uh Seth thanks so much for coming on man what's what's the best way for folks to get a hold of you and learn more about uh your law firm uh raise law and try vest if they want to learn more about what that looks like for sure uh the best place where I keep all my links is Seth Paul bradley.com um you'll have links to try best there links from my uh law firm and social media it's all posted on there okay we'll put that in the show notes and definitely appreciate you coming on   today set it awesome all right Ben appreciate it [Music] [Applause] [Music] man Links from the Show and Guest Info and Links https://www.youtube.com/watch?v=oiRq38II33s&t=1047s https://www.instagram.com/p/C5mNnwsv2fs/  https://aspenfunds.us/private-credit- https://www.investwithaspen.com/free-economic-report https://www.linkedin.com/in/benwfraser/ https://www.linkedin.com/company/aspen-funds/ https://www.instagram.com/aspenfunds/   Seth Bradley's Links: https://x.com/sethbradleyesq https://www.youtube.com/@sethbradleyesq www.facebook.com/sethbradleyesq https://www.threads.com/@sethbradleyesq https://www.instagram.com/sethbradleyesq/ https://www.linkedin.com/in/sethbradleyesq/ https://passiveincomeattorney.com/seth-bradley/ https://www.biggerpockets.com/users/sethbradleyesq https://medium.com/@sethbradleyesq https://www.tiktok.com/@sethbradleyesq?lang=en

7 Tax Tips for New Law Firm Owners

Feeling overwhelmed and wondering if there's a way to finally get out from under the chaos?If your brain never shuts off and your to-do list is chaos, this episode is for you. Meagan Rutkowski, CPA shares how implementing Simple Systems, Free Time gave her mental clarity, reduced overwhelm, and uncovered hidden scope creep. Now, Meagan has calmer mornings, the space to think strategically about her business, and more time for what matters.…Link to full shownotes: https://www.businessstrategyforcpas.com/357…Connect with Meagan:mrutkowski@bullmoosefinancial.com...If you feel trapped by your own accounting firm, I can help you stop the chaos and end the long hours without losing revenue or hiring. Join 3000+ other CPAs who get my single-tip daily emails..Subscribe here: geraldinecarter.com/subscribe.Readers say they love it because they're short and on point.…Want client interviews?310 From Exhausted to Having Her Life Back: Wendy Norman, CPA304 From 55 Down to 15 Hours; Same Take-Home Pay with Melissa Downs, EA293 What it Takes to Work 15 Hours per Week with Erica Goode, CPAComplete list:geraldinecarter.com/client-interview-episodes…FOUR ways I help overworked CPAs go down to 40 hours without losing revenue or hiring:THE EMAIL COURSE – Freegeraldinecarter.com/stop-working-weekendsStop Working Weekends will teach you how to reduce your hours without giving up revenue. THE BOOK – $9.99geraldinecarter.com/bookDown to 40 Hours – A Roadmap for CPAs to End Overworking Without Losing RevenuePEAK FREEDOM COMMUNITY – $197/mogeraldinecarter.com/peak-freedomFor solo and small accounting firm owners who want to rise above the insanity of hustle-cultureDOWN TO 40 HOURS ACCELERATOR – $995/mogeraldinecarter.com/40For the overworked CPA at multiple six figures of revenue who is ready to stop working weekends, wants to implement overdue changes, and doesn't want to do it alone. You'll make progress faster and with more confidence. 

Trying to squeeze everything you can into the few summer months we have while maintaining your career or business can be a difficult feat, but with a few tools and being aware of everything that is happening this summer, you could not only avoid burnout, but you could enjoy these last few weeks of summer in a way you never thought you could.  In today's podcast episode, I cover the top reasons most people get burnt out as well as how you can make sure that you are maintaining a work-life balance that not only has you getting the work you want or need to get done each week but also being able to take advantage of everything the summer has to offer you in your personal life as well.  Whether you are starting a business or side hustle, you're a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA; if you want to prevent burnout and maintain a healthy work-life balance for the rest of this summer, you need to make sure you are following these tips… Schedule your Complimentary Stress Audit And Clarity Session, where we'll work together to create a clear and focused plan and overcome the obstacles that stand in your way so that you can move forward and immediately start enjoying your life with less stress, increased productivity, and more time to spend doing what you love with the people you care about: https://www.financialadventure.com/work-with-me Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here: https://www.financialadventure.com/accountant Ready to set up your business?  I have a program to help you get your business set up so that you can start making money.  Sign up for this program here: https://www.financialadventure.com/start Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You'll have the opportunity to see how you like coaching with an Introductory Coaching Session: https://www.financialadventure.com/intro Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business: https://www.financialadventure.com/profit If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here: https://www.financialadventure.com/sidehustle Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping: https://www.financialadventure.com/5essentials Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You: https://www.financialadventure.com/starterguide Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here: https://www.financialadventure.com/sba Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here: https://www.financialadventure.com/adp QuickBooks Online - Save 30% Your First 6 Months: https://www.financialadventure.com/quickbooks Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you: https://www.financialadventure.com/discovery Show Notes:  https://www.financialadventure.com This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

CPA Life Rewind features accounting firm coach Geraldine Carter this week, as we look back on the highlights of her two-part conversation with John Randolph on Episode 73. With a background in engineering, Geraldine's experience in founding her own business led her to realize the challenges many CPAs face as business owners themselves. She talks about how to simplify your practice and create value for your clients that they want to pay you more for, reducing your hours while increasing your income, narrowing your focus and niching to make your work easier both to do and to market, and more absolutely brilliant insights. If building a thriving, fulfilling practice is your goal, then the first thing you need to do is listen to Geraldine's insights in this episode. Get the full show notes and more resources at CPALifePodcast.com

The problem with hoping and taxes

In this episode of the Model FA Podcast, David DeCelle sits down with Andree Mohr, President at Integrated Partners, to discuss how advisors can double their business through intentional partnerships with CPAs. With over $21 billion in AUM, 212 advisors, and 200 CPA partners, Integrated Partners has mastered the art of aligning tax professionals and financial advisors to serve high-net-worth clients with deeper, more integrated planning. Andree shares how personalized introductions, regular CPA meetings, and clear expectations can unlock growth and referrals. From systemizing partnerships to shifting CPAs from tax prep to tax planning, this episode is full of practical insights for any advisor looking to grow.

This content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.----------------------------------------Hey friends,After 10 incredible years of building Causeartist solo, I'm excited to share something personal with you.Last year, some amazing partners who believe deeply in the mission and future of Causeartist reached out. I knew from the initial conversation it was the right fit.The Pay It Forward Company (PIF) has officially acquired Causeartist, and I couldn't be more energized about what this means for the next decade.What's changing?Nothing about the core mission or voice will change. I'm still the founder of Causeartist and will continue to lead our daily content, podcasts, and community—just with more support, more resources, and a bigger vision.What's new?In addition to running Causeartist, I've also joined the PIF Venture Team as a partner. This means I'll be working more closely with early-stage impact startups and the people building infrastructure for a better world. More on that soon.Joining PIF feels like the perfect move at the right time.Their values align perfectly with everything Causeartist stands for: purpose-driven ventures, impactful innovation, and paying it forward.You can learn more about the venture side of the firm here and the advisory side here.To everyone who's subscribed, shared a post, tuned into the podcast, or built something impactful—you've helped Causeartist grow into what it is today. And now, we get to grow even further, together.We have some exciting things happening in the future.Here's to the next decade.

Kevin Brunner is a Marine veteran, entrepreneur, and financial strategist with over 30 years of experience advising business owners and doctors on retirement income, tax planning, and wealth preservation. He's owned a national business brokerage involved in 3,800+ transactions and leads a team of fiduciary advisors, CPAs, and attorneys. Featured in Forbes and a former radio host on KABC, Kevin founded The Q Companies and is driven by a passion to share the wisdom he's gained from mentors, business, and travels to 47 countries. Here's some of the topics we covered: The Powerful Influence Kevin's Grandfather Had on His Real Estate Journey What Sparked Kevin's Mission to Become a Financial Advisor The Hidden Reason Most Advisors Avoid Talking About Tax Efficiency 1031 Exchanges Unlocked & How The Rich Build Legacy Wealth Cost Segregation Secrets Every Real Estate Investor Should Know A Little-Known Strategy to Defer Capital Gains How the Installment Sales Trust Can Supercharge Your Multifamily Exit Estate & Trust Planning Hacks That Protect Wealth for Generations Turning Legal Loopholes Into Power Plays How Financial Strategists Create Win-Win Deals for Both Sellers and Buyers To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com    For more about Rod and his real estate investing journey go to www.rodkhleif.com   Please Review and Subscribe  

Discover what's inside the One Big Beautiful Bill Act (OBBBA) that has real estate investors buzzing—and CPAs scrambling to update their playbooks. In this special episode, Tim Mai sits down with tax strategist Jennifer Semien, CPA, to break down the powerful new tax advantages real estate investors can leverage immediately. From massive deductions on vehicles and equipment to changes in depreciation and cost segregation rules, Jennifer explains exactly how to structure your strategy to maximize write-offs, reduce taxable income, and stay compliant. If you invest in real estate and want to legally minimize your tax bill, this is a must-listen breakdown of the OBBBA—direct from the frontlines of tax law. 5 Key Takeaways from Jennifer Semien's Episode:Bonus Depreciation Is Back (And Bigger): The OBBBA reintroduces 100% bonus depreciation for certain asset classes—giving investors immediate write-offs.Vehicle and Equipment Deductions Expanded: Business-use trucks and machinery now qualify for larger deductions under the updated Section 179 limits.Cost Segregation Just Got More Powerful: The Act enhances the value of cost seg studies by accelerating more components into shorter life categories.OBBBA Applies Retroactively: Some provisions of the Act are retroactive, meaning investors can refile or amend to capture missed deductions.Real Estate Investors Must Act Fast: Jennifer emphasizes that timing and proper documentation are key to fully benefiting from OBBBA's provisions.About Tim MaiTim Mai is a real estate investor, fund manager, mentor, and founder of HERO Mastermind for REI coaches.He has helped many real estate investors and coaches become millionaires. Tim continues to help busy professionals earn income and build wealth through passive investing.He is also a creative marketer and promoter with incredible knowledge and experience, which he freely shares. He has lifted himself from the aftermath of war, achieving technical expertise in computers, followed by investment success in real estate, management skills, and a lofty position among real estate educators and internet marketers.Tim is an industry leader who has acquired and exited well over $50 million worth of real estate and is currently an investor in over 2700 units of multifamily apartments.Connect with TimWebsite: Capital Raising PartyFacebook: Tim Mai | Capital Raising Nation Instagram: @timmaicomTwitter: @timmaiLinkedIn: Tim MaiYouTube: Tim Mai

Tax strategies require actual tax law

Have you ever paused and really asked yourself, Who am I?  I don't mean what you do for a living. Or what others expect of you. I mean the real you. The version of you that shows up when no one's watching. The one that doesn't pretend, doesn't shrink, and doesn't perform.  Most of my clients come to me thinking they'll finally feel like themselves once they hit a certain milestone.  It could be after tax season is over, or when their bank account hits a certain number, or when their business “finally calms down.” But what if the path to becoming your true self doesn't come after the chaos settles? What if it begins right in the middle of the mess?  Let's talk about what it really means to give yourself the gift of being yourself, and why it might be the most powerful thing you ever do.  Let's dive in… I'm inviting you to sign up for the free private podcast where I do a deeper dive into this topic on the Mastering Your Mindset Moments podcast for high-stress professionals: https://www.financialadventure.com/private Schedule your Complimentary Stress Audit and Clarity Session, where we'll work together to create a clear and focused plan for you to move forward so you'll immediately start enjoying your life with less stress, increased productivity, and more time to spend doing what you love with the people you care about: https://www.financialadventure.com/work-with-me Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here: https://www.financialadventure.com/accountant Ready to set up your business?  I have a program to help you get your business set up so that you can start making money.  Sign up for this program here: https://www.financialadventure.com/start Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You'll have the opportunity to see how you like coaching with an Introductory Coaching Session: https://www.financialadventure.com/intro Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business: https://www.financialadventure.com/profit If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here: https://www.financialadventure.com/sidehustle Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping: https://www.financialadventure.com/5essentials Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You: https://www.financialadventure.com/starterguide Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here: https://www.financialadventure.com/sba Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here: https://www.financialadventure.com/adp QuickBooks Online - Save 30% Your First 6 Months: https://www.financialadventure.com/quickbooks Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you: https://www.financialadventure.com/discovery Show Notes:  https://www.financialadventure.com This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

There has never been a time when carefully planning out the future of your firm has been so important, says Matt Rampe of Rosenberg Consulting, as he offers a roadmap for building the firm you want.

Today we're in Denver, Colorado and chatting with Julie Holunga, founder of Chinook Executive Solutions. Julie is a leadership trainer and executive coach, developing professionals to amplify their influence and impact. She works with attorneys, CPAs and business leaders with an expertise in the careers of female professionals. You'll hear Julie and I discussing how she assists her clients excel in their careers with her proven communication strategies, how to hone their leadership skills, build increased visibility and heightened confidence. Julie works with highly driven teams to instill ‘The Trusted Voice Paradigm' and develop collaborative patterns that deliver value. Through these programs, leaders learn to get out of their own way, develop trusting relationships with key stakeholders and have a positive impact on the organization's bottom line.  Visit the C4C website to gain full access to the transcript, show notes, and guest links. Coaching 4 Companies  

Law firm owner case study

The REAL goal isn't zero income tax

From Compliance to Strategy: How Smart Business Owners Build Long-Term Success | Christopher Papin The Entreprenudist Podcast https://entreprenudist.com Episode with Christopher Papin, Owner of Papin CPA In this insightful interview, Christopher Papin breaks down how business owners can shift from basic compliance to strategic, long-term planning by leveraging the power of advisory services, financial insight, and legal integration.

Get rid of your scaredy cat accountant.

RICHPANEL Cut your support costs by 30% and reduce tickets by 30%—guaranteed—with Richpanel's AI-first Customer Service Platform that will reduce costs, improve agent productivity & delight customers at http://www.richpanel.com/partners/ajf?utm_source=spotify.FERMATCreate funnels the same way you create ads with FERMAT by visiting ⁠⁠https://fermatcommerce.com/af//If you run a large eCommerce brand, you've likely faced it: the dreaded Meta ads breakdown. One week you're scaling efficiently, the next—your RoAS tanks, CPAs spike, and panic sets in. In this episode, Andrew walks through eight tactical steps to triage and fix a broken Meta ads account—based on real-world experience managing millions in ad spend.You'll learn:- How to immediately identify whether it's a technical issue or strategic breakdown- Why small sample size volatility may be misleading your decisions- How to communicate clearly with your team or agency when everything's on fire- Why assuming “you're the problem” can actually give you the most control- How to cut losses fast with the “Don't Spend Bad Money” principle- When and how to rebuild creative from scratch—and why weird might winThis is a practical, high-urgency playbook for brand operators, marketers, and agency leads who need to stabilize performance and return to profitable growth.Whether you're in the thick of a platform shift, reeling from iOS changes, or just trying to keep performance consistent, this episode will help you keep a steady hand on the wheel—and make smarter, faster decisions. //CHAPTER TITLES:00:00:56 - How To Fix Broken Ad Accounts00:03:20 - Short Term vs. Long Term Problems00:09:43 - Daily Volatility In Meta Ads00:16:26 - Stop Bleeding Money00:22:11 - Communication With Brand Partner00:23:10 - Eliminate Options In Your Ads00:25:47 - Remain Calm During Fires//SUBSCRIBE TO MY CHANNEL FOR 2X/WEEKLY UPLOADS!//ADMISSIONGet the best media buying training on the Internet + a free coaching call with Common Thread Collective's media buyers when you sign up for ADmission here: ⁠https://www.youradmission.co/andrew-faris-podcast⁠//FOLLOW UP WITH ANDREW X: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://x.com/andrewjfaris ⁠Email: podcast@ajfgrowth.comWork with Andrew: ⁠https://ajfgrowth.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

When disaster strikes—wildfire, flood, earthquake—will your clients' finances survive the storm? In this episode, host Cary Sinnett speaks with Mitch Freeman, CPA/PFS, a nationally recognized advisor with firsthand experience navigating the financial aftermath of natural disasters. Mitch shares practical insights on: ·       Proactive steps to prepare clients financially for disasters ·       Insurance challenges in high-risk areas ·       How private adjusters can ease post-disaster stress ·       Essential documents and checklists every client should have ready With over 60 years in the profession, Mitch offers hard-won wisdom and actionable advice to help CPA financial planners build financial resilience into every plan. Resources:        Disaster preparedness        Aftermath of a natural disaster checklist        Dealing with catastrophic property loss        Disaster management essentials for CPAs        A primer on disaster planning, relief, and recovery with a CPA        Disaster Relief Resource Center        State Disaster Tax Relief Guide        AICPA Benevolent Fund – Disaster Support Application This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search “AICPA Personal Financial Planning” on your favorite podcast app.  

139 - Can a Doctor's Note Make the IRS Pay for Your Pool?Do you want access to the videos, drawings, templates, tools, and be able to get your questions answered on the live calls or in the community? We'd love to have you join the Wealth Game basics today to get some additional free resources, videos, and tools: Visit www.wealthgame.io For specific one on one, or group support for tax planning, strategy, tax preparation, bookkeeping, accounting, or other CPA firm related services, we recommend going to www.bementcompany.com to connected with our team of CPAs and professionals. Thank you for listening to another episode of the Wealth Game Podcast. The goal is to get informal yet actionable advice directly to business owners and investors. The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes. For additional information and links to all available platforms please visit our website at www.wealthgame.io Contact Us: Websites: www.wealthgame.io www.bementcompany.com You can also stream The Wealth Game on: Spotify: https://open.spotify.com/show/5vKCgwK9K7zw1FrXoNAdoh?si=b95d0293bb4b41ad Apple Podcasts: https://podcasts.apple.com/us/podcast/wealth-game/id1638735155 Connect with Brent Bement: LinkedIn: www.linkedin.com/in/brentbement X: https://x.com/brentbement Instagram: https://www.instagram.com/brentbement/

Want to buy real estate WITHOUT banks or using your credit? Go Here:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://creativefinanceplaybook.com/?utm_source=podcast&utm_content=cfp&utm_campaign=homep⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join The Creative Finance Playbook Coaching Program & Learn Directly from Jenn & Joe:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://creativefinanceplaybook.com/wait-list?utm_source=podcast&utm_content=cfp&utm_campaign=wlist⁠⁠⁠⁠⁠Real Estate Investors & Wholesalers — this one's for YOU!

4 Steps to Writing Off the Family Board Meeting

Topics include:  Tax legislation breakdown and DC update Tax research tools What's next for CPAs and clients   Speakers:   Erik Asgeirsson, President and CEO, CPA.com  Mark Koziel, President and CEO, AICPA  Mark Peterson, EVP, Advocacy, AICPA  Melanie Lauridsen, VP, Tax Policy & Advocacy, AICPA  Lisa Simpson, VP, Firm Services, AICPA  Mark Gallegos, Partner, Porte Brown Accountants and Advisors  Robert Keebler, Partner, Keebler & Associates 

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.

The hidden danger of capital loss harvesting

Spend all day in your Inbox? Mark Kuka cut his hours from 84 to 45 a week, replaced 20% of his revenue after firing high-maintenance clients, and still grew. Hear how “Simple Systems, Free Time” helped him get control, reduce stress, and make space to go fishing with his son.Mark's websitehttps://jaxlegalcpa.com/…Link to full shownotes: https://www.businessstrategyforcpas.com/356…If you feel trapped by your own accounting firm, I can help you stop the chaos and end the long hours without losing revenue or hiring. Join 3000+ other CPAs who get my single-tip daily emails..Subscribe here: geraldinecarter.com/subscribe.Readers say they love it because they're short and on point.…Want client interviews?310 From Exhausted to Having Her Life Back: Wendy Norman, CPA304 From 55 Down to 15 Hours; Same Take-Home Pay with Melissa Downs, EA293 What it Takes to Work 15 Hours per Week with Erica Goode, CPAComplete list:geraldinecarter.com/client-interview-episodes…FOUR ways I help overworked CPAs go down to 40 hours without losing revenue or hiring:THE EMAIL COURSE – Freegeraldinecarter.com/stop-working-weekendsStop Working Weekends will teach you how to reduce your hours without giving up revenue. THE BOOK – $9.99geraldinecarter.com/bookDown to 40 Hours – A Roadmap for CPAs to End Overworking Without Losing RevenuePEAK FREEDOM COMMUNITY – $197/mogeraldinecarter.com/peak-freedomFor solo and small accounting firm owners who want to rise above the insanity of hustle-cultureDOWN TO 40 HOURS ACCELERATOR – $995/mogeraldinecarter.com/40For the overworked CPA at multiple six figures of revenue who is ready to stop working weekends, wants to implement overdue changes, and doesn't want to do it alone. You'll make progress faster and with more confidence. …

By increasing your awareness and well-being, you can achieve anything you can imagine in your life.  Success stems from awareness and allows you to make decisions that lead to your successful future.  If you are unaware of what is happening in your life, you won't know where you need to make the changes that will bring you more success in your life and your business.  In today's podcast episode, I'm diving deeper into helping you increase your awareness and uncover where you need to make changes in your life or your business so that you can reach your potential and create the possibilities for your future success.   Whether you are starting a business or side hustle, you're a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, understanding what is happening in your life or your business by increasing your awareness will have you on the fast track to success when you know exactly what is holding you back and what steps you need to take to reach the successful version of you in both your business and your personal life… Schedule your Complimentary Stress Audit And Clarity Session, where we'll work together to create a clear and focused plan and overcome the obstacles that stand in your way so that you can move forward and immediately start enjoying your life with less stress, increased productivity, and more time to spend doing what you love with the people you care about: https://www.financialadventure.com/work-with-me Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here: https://www.financialadventure.com/accountant Ready to set up your business?  I have a program to help you get your business set up so that you can start making money.  Sign up for this program here: https://www.financialadventure.com/start Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You'll have the opportunity to see how you like coaching with an Introductory Coaching Session: https://www.financialadventure.com/intro Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business: https://www.financialadventure.com/profit If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here: https://www.financialadventure.com/sidehustle Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping: https://www.financialadventure.com/5essentials Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You: https://www.financialadventure.com/starterguide Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here: https://www.financialadventure.com/sba Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here: https://www.financialadventure.com/adp QuickBooks Online - Save 30% Your First 6 Months: https://www.financialadventure.com/quickbooks Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you: https://www.financialadventure.com/discovery Show Notes:  https://www.financialadventure.com This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

Tiff and Kristy talk about revisiting those goals your practice set at the beginning of 2025, and if you're falling short, discuss how to get back on track. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: The Dental A Team (00:01) Hello, Dental A Team listeners. I am so excited to be back here today. I've got Kristy with me. You guys know I love podcasting with the consultant team and I love each of them for something very, special. Kristy, you are my gal that, like, I feel like we can talk about anything. Always be on the same page. You riff with me very easily.   And you always, always, always, I have to value this and appreciate it at the end. If I ever ask you for anything I missed, you always catch something and always have a pearl of wisdom. And I just think it's really, really, one, talented. Like not everyone can do that or think. A lot of people get like stressed, especially podcasting. And two, it just makes me really, really excited for your clients because I know you just operate in that way.   You're always thinking of like, my gosh, what else can I add? What value can I bring? And your clients are just insanely lucky to have you as a consultant. And your previous clients I know are just always checking in with you and they're always asking those simple questions or those hard questions. And Kristy, think it's just really cool. You're an insanely special human. So thank you for being here. Thank you for being a part of our team.   I hope you understand and know how valued you are, the Dental A Team, and just personally and professionally.   Kristy (01:25) Absolutely. Thank you. I'm honored to be here and be a part of ⁓ changing dental lives. ⁓   The Dental A Team (01:26) Yeah.   Thank you. And   just so everyone knows who's listening, podcasts are not like super easy. Recording podcasts can be a little daunting. And that was even before we had to do it by video. And I think about this a lot, actually, because it just, I think it's so funny. This is kind of like cell phones. We're going go on a little small little tangent because I think it's hilarious. I remember way back in the day when we were like,   bricks with these giant cell phones. We were like, this is stupid, like, why it needs to be small? So we had this little tiny flip phone that you really couldn't do a lot on, right? Because it was so small, but it was small. We wanted small and compact. And then we went to a BlackBerry and it was like, this is a whole computer and I can do my emails. And then we went small again. We like keep going back and forth and back and forth. And now, know, iPhones got it pretty well dialed in, but it's so much bigger than my cell phone was in high school. And I think about this a lot because   I think we go forward and backwards in life constantly. This is no different than that. Because you remember, I remember Brody was little and I used to do Beachbody coaching. I loved it. It was just like a past life that I absolutely loved. The fitness industry, the fitness world is my passion. But I remember we used to get on Facebook Live or we do YouTube videos and we were like, hey guys, this is how you make this cake or whatever it was.   And then we removed the video aspect, right? And that's when podcasts got popular and podcasts were not video. Podcasts were strictly just talking. And I remember Dana and I, or Britt and I, like get together and we could see each other, but it wasn't being recorded. So we could come however we wanted to look. It was just like, come as you are. We're only here for the voices. And then now, then we added the video back in and I'm like, wait, like we keep going backwards. Now I feel like we're doing YouTubes all the time. So.   Anyways, my small tangent there is like going forward and then coming backwards and feeling like you're making progress, but then technology pulls us back a little bit. And I think that we do that in life and personal life. We do that in habits. We're like, so good. The 30 days sugar detox, like I'm doing so good, right? We get to 28 days and we're like, but just a little bit won't hurt. I just want a little sugar. And we're like, dang it. Now we're sliding backwards or whatever the   I think we do that a lot in life and it doesn't have to be technology. It can just be habits. It can. It can be anything in some some places. A place that I see it a lot is within our goals within a company that only team has company goals. We we do the same thing over here. Every business is business is what I always say. We've consulted eye doctors and chiropractors and like business is business. I talked to.   You know, my financial advisor about his business structure, he's like, help me with the CPAs, whatever. Business is business and we all move forward and fall back and move forward and fall back. And today, Kristy, I thought it might be beneficial kind of being mid-year-ish to do a check-in on that. I know we do it with all of our clients, but making sure even non-client doctors who are here, business owners who are listening, that you know that this happens. This is...   This is life. Like we're back on video. Here we are. This is life. And we go forward and then we fall backwards. But no matter what, there's always a space to move forward again or move forward more. If you didn't fall backwards, you move forward more. There's always that space and there's always that availability. And oftentimes we get to this space in the year, June to like August timeframe, and we haven't looked at our trajectory very often.   in and maybe we look and we're like, ⁓ heavens, Tiff, like, I'm like 300 grand short of what I wanted to hit this year. And Kristy, how many times have you had a doctor call you just like, this is it, we got to change my goal. We've got it. We're not doing three million. We're doing 2.7. And you're like, no, we're not doing that. Yeah, like, no, we are not here for changing goals. We're here for pushing forward.   And I thought it would be fun for us to really take a look at that today and figure out how can you know that you're on or off track? And when you're off track, what do you do to get back on track? Now, Kristy, ⁓ what do you have your clients doing? And what have you always, you've worked with, you've consulted for a while. what have you always had your clients doing to stay, not even to stay on track, but just to know where they are. Like how do we know our baselines in business?   Kristy (06:15) Yeah, well first off, I always like to start the year projecting out our year, right? So looking at what we did last year and creating a goal with growth on top of it and projecting that out for the future. But then also when we do that,   ⁓ taking it and chunking it down. So we may have a big goal and starting the beginning of the year, if our goal is three million, that can be so daunting, right? And I think we all have to remember.   The Dental A Team (06:44) Mm-hmm.   Kristy (06:47) Yeah, we always have to keep our eye on the prize, but we need to also chunk it down. And you made a very good point about it being June. And my mind went to thinking back to the beginning of the year and how we're really excited, thinking of like starting school even. Your first year in college, I'm a freshman and I'm all gung-ho and I'm ready to study and I have these habits. And then all of a sudden we start to fall back in routine. remember,   The Dental A Team (07:05) Yeah.   Yeah.   Kristy (07:17) that each day is a new day to start over. But to your point...   Right now, we have our big goal and maybe we have a sheet with a thermometer or however you want to fill it and make sure we're always keeping our eye on that prize, but go smaller. Go to your month view, go to your weekly view, then go to your daily view and chunk it down because it makes it so much more doable and we resist the urge to change the goal then because we can look and see where we're at.   The Dental A Team (07:33) Yeah.   That's nice.   Kristy (07:49) and what we have to do to get back on track.   The Dental A Team (07:53) Yeah, I love that you said that like scale it back. Look at what the different layers are and then always looking at if you added these layers together now, does it equate to where you need to be? And something you said, Kristy was massive. Like I think so many doctors get into the year and like I'm going to do three million this year and then that's it. And it's like divide three million by 12. That's what we're hitting every month. And then we just go month by month by month.   But if we're not looking at our leads, our lags and our current, then we get lost in the shuffle. And Kristy, I think that's what you're saying, right, Cheon? Get back and know and then always look at what we've accomplished and where we have left to go. Not June to August timeframe can be seriously pivotal in making or breaking those goals, because if you now look at January to June and you say, OK,   What did I, what have I done? What is my year to date production so far? And then subtract that from your yearly goal and you're going to see your gap, right? So that's what you have left to do this year. Sometimes you might look at that and you might see your $300,000 short. That sounds massive, right? You're like, holy cow. Well, let's divide that by how many months we have left this year. Doesn't mean we throw in the towel and we're done. We say, okay,   If I'm going to do this, how do I get this done? And again, what you said, Kristy, it's mid year, but we're doing the same thing. We're doing the same thing that we did at the beginning here. We're just reevaluating and reassessing where we have left to go. So a lot of times, you know, I've had dentists that were like a hundred grand short, even at the end of the year, we look at it and we're like, oh my God, we barely missed it. Well, let's look at where we missed it. Why did we miss it? What happened?   to get us to this point? And how do we make sure that this doesn't happen again? And typically it's been missed somewhere during that year where it was like we were short 25 grand on this month, we were short 25 grand on this month, and we were short 10, 10, like whatever it equates to, right? But it's like those add up so quickly that we tend to miss them. So if you get to that mid-year and you say, okay, this is what I have left, let's reassess.   and look at how long do we have. Kristy, something I do get asked a lot is, well, what do we do when doctors are like, let's take this vacation time? Or I've got associates who are like, oh, guess what? Next month, I've got CE and I've got this and I've got office managers and doctors that are calling me and pulling out their hair. And they're like, I have a goal, but how am I supposed to hit this? So Kristy, what do you suggest when they are off?   goal, they're off track, they've got how much ever money that they need to make up and then they've got something looming, some sort of maternity leave or something we just didn't really account for. How do you have your doctors really account for that and put it back into their goals?   Kristy (11:02) Yeah, I love that we're talking about this subject and I know we tend to talk about, you know, bridging the gap when we're behind and we'll certainly talk about that because many times it's that but...   Also, don't forget to celebrate if you're ahead, you know? And so celebrate if you're ahead, but not just celebrate, take a look at what you did to get there so you can repeat those processes, right? And to your point, if we are behind, take a look and chunk it down. What would it take to bridge that gap? And if I have providers looking for time off,   The Dental A Team (11:28) you   Kristy (11:37) Factor that into the equation. If we're behind already and we take this much time off, what now will the gap be? So for associates, for owner doctors, ⁓ it may not be easy to find a temp for them, but for hygiene, it's very easy to say, if we're ahead, do I really need to find a temp? Because we're ahead in our goal. Or,   The Dental A Team (11:44) Okay.   Yeah.   Kristy (12:02) Do I need to find a temp because we're behind   in goal? So it helps you make those strategic decisions. ⁓ with that being said, for owner doctors and associates, if we're behind, can we add in anywhere? Could we add one more hour to the day or could we work a Friday versus taking it off? What would that do in order to take that week off? And or can we change our block scheduling?   The Dental A Team (12:19) Yeah.   turn.   Kristy (12:32) some bigger rocks. Take our mind back to during COVID when we only did emergency treatment. It's okay if we push a filling off here or there if it means adding that big rock so we can make up for the loss, right? It's not that we're not going to do the filling, but could we put it in a month where we're already at goal, if you will.   The Dental A Team (12:39) Yeah.   Yeah,   yeah, I think those are really great points and something you said there was like work the Friday instead of not working made me think of I do have an office that does a few offices that do this, but one particular does really well at looking ahead one to three months consistently, if not further. But they're always looking at OK, if we want to as an office, take this time off or if we have to take this time off for CE or whatever, are there days in the month that were closed that we could open to make up that production?   And think that's massive. And again, like you said, I'm going to mimic it. You like definitely celebrate when you're ahead and then look at what does that mean? Now, something I do steer away from, and I know, Kristy, you do too, is changing the goal because you're ahead. So that doesn't mean next month you do 120 instead of 160. It just means great. We've got padding for if we need to utilize that. So if the time comes, I know I had a practice in February that by March they were like,   How are we so short? When they looked at it, they had hygienists that had called out sick. They had an associate dentist that was out for a week. They had a hygienist that was on surgery. They lost almost $60,000 just in like crazy schedule happenings that they weren't truly prepared for. And so that can happen at any point. So if you're ahead and then you get to November and it's like, wow, this is kind of crazy.   you can account for that. if you get to December and you're so far ahead that you're like, hey, actually, like, we're going to take two weeks off or we're canceling everything for two weeks because we're good. You want to be able to have those flexibilities. so, Kristy, I think it's brilliant the way you have them constantly looking at them. So your practices are always looking at their KPIs, their measurables of where have we gone? Where are we trying to get to? And what do we need to get there so that we can constantly strategize and figure out   a new route for that. Now, what do you suggest if we're, I don't know, say $300,000 short, whatever, a hundred, I don't care how much it is, but we're getting towards the time of year, we tend to forget this, that June to August timeframe is a good time to look at your goals because September to December can get a little wild, in my opinion, within dentistry. So if they're a little bit short here or a lot of it short,   What do you usually suggest to the doctors going into that kind of holiday season, which is freaking around the corner, which is crazy. How do you suggest that they start really preparing for that?   Kristy (15:22) No.   Yeah, well, number one, I like to start preparing early. A lot of people think, you know, we hit the September, September, right? And prepare early because we plant those seeds, right? And it doesn't have to be that way. So number one, looking at our unscheduled treatment, you know, who can we re-enroll that has already been in and we just haven't started treatment on?   The Dental A Team (15:36) huh.   Yeah.   Kristy (15:52) There's so many different avenues that we can start to look at and really with the goal of getting our patients healthy, tap into those resources. Or we have patients within our own schedule coming in that have unscheduled treatment. How could we add more on what we're already doing? Because we already have them here, you know, and capture more. The other thing that I was going to say, Tiff, is I do have a lot of doctors that are willing to work through a lunch hour.   The Dental A Team (16:00) Go.   That's a good point.   Kristy (16:19) You know, I know that's not gonna win fans with team probably, yet if we're behind on goal and we all are part of the goal, could we still honor lunch hours with team, but maybe we rotate through so we don't have to add another day, but just simply adding that procedure during lunch if it works for the team, you know? So there's so many different avenues, but if we fail to look at it, then we're already behind the game. But again, to your point,   The Dental A Team (16:19) Yeah.   Yeah.   Mm-hmm.   Kristy (16:47) starting now to start preparing for the end of the year and talking about what we have to do to bridge that gap, but tap into the resources we already have with the patients we already have.   The Dental A Team (17:00) That's brilliant. Looking at your unscheduled treatment is massive. And something you said earlier, Kristy, I'm going to pull back into the space right now. You said, look at what you've done that's worked, right? So look at what has gotten you here. Whether you're where you want to be or not, things have worked. And that's the space that is often missed in life in general. We're really great at looking back and seeing what could I have done better to have gotten a different result. But we often forget to look at what am I doing right?   that's producing the right result so that I can repeat that. And when you're looking at your unscheduled treatment, one, if you don't have a lot of unscheduled treatment but you don't have a full schedule, we need to look at diagnosis and new patients. So that's a space. And when you're not hitting goals, those are all spaces that we forget to look at. Often we're just like tackle the same day treatment, which works if you're diagnosing the treatment.   if you're getting the patients into the practice that need treatment. So a lot of times we might be behind goal and we might miss that there's something more underlying. It might be lost in marketing. It might be lost in the right new patients. I know I've got practices that are like, we're getting a ton of new patients, but they're clean patients. Fantastic. I love healthy mouths. I want everybody to have a healthy mouth, but I need dirty mouths. need unhealthy mouths.   to feed the production. And so being able to get that good mix takes a lot as well. So Kristy, to your point, like, are we celebrating the things that we're doing really well? And then the things that maybe aren't working to move the needle, are we really diagnosing what's truly going on there and tackling the root cause? A lot of times it's within the new patients, it's within the processes. If you've got a ton of outstanding treatment and it's not selling, why? Why aren't patients accepting?   If you don't have a ton of treatment and you don't have a full schedule, why? Is it under diagnosis or is it a lack of right patients? know Trish has a client right now. I've had the luxury of watching her consult this client and it's just been a lot of fun to see her take his, what's the word I want, like his, what are you seeing, his view and just shift it.   his attention, right? So he was getting the new patients, probably not as many as we'd love, but he wasn't focusing really heavily on the diagnosis, but wanted higher case acceptance, blah, blah, blah. So she really helped to shift. And Kristy, I've seen you do this too, shifting that focus back into, we looking at full mouth or did we get stuck on something? I've seen doctors do this where they're like, I'm going to do implants.   So we're only looking for implants and we're missing fillings. We're missing the like GP stuff that I know you don't want to do right now, but it's what fills the schedule. so, Kristy, to your point, really looking at what's working so that we can repeat that and diagnosing what's not working so that we can shift that and make massive impacts. Because sometimes I think that the money is missing because we've got something else is missing and we're maybe not focusing on the right things.   Kristy (20:14) Yeah, I love that you said that and you know something else that came to mind when you were talking is so many times we're looking at the dirty mouth, right? And healthy infected mouth or whatever but on our healthy patients It's a great time to take a step back to and say hey Is there anything you don't like about the shape size color of your teeth? So many doctors want to do cosmetic dentistry, but we never talk about it, right? So it's a great opportunity to also celebrate the healthy patient. my gosh, you've been coming for five   The Dental A Team (20:38) Yeah.   Kristy (20:44) years and haven't had a cavity, keep doing what you're doing at home, and this is a great time. Is there anything you'd like to change about your smile, right? And just by asking some questions, you could probably drum up more ⁓ treatment in your chair right there.   The Dental A Team (20:46) Yeah.   That's a brilliant idea. I do love that. You do well. This is what I'm talking about, you guys. I said it at the beginning. Kristy's like, yes, and I love that. And I use that. You say that a lot, Kristy. Words are insanely valuable and important, I think. And you say yes, and a lot. And I've noticed I've started doing that. So thank you for giving me that habit. But it's true. You're constantly thinking like, yeah, for sure, healthy patients. And you can still help your healthy patients in different ways. So Kristy, thank you for always having   that extra nugget, always thinking like, yeah, for sure. And also, this is what you could do. So, Kristy, I think it's invaluable. Our listeners, I know, picked up on it as well. And your clients, again, they're just, all of our clients are so lucky, but your clients are truly lucky to have you. you guys, I think our biggest action items, go look at your numbers, go look at where you are, where you're going, and what you need to do to bridge that gap to get there.   This is the perfect time of year to really prep the rest of the year and look at what are you offering your patients? Are you offering them everything? Like Kristy said, are we looking at healthy patients too and saying, hey, what else could you want to do? What else do you want to do? Are we looking at those options as well? Are we super focused on something right now? It's broaden your focus, change the game and figure it out guys. As always, Kristy, thank you so much for being here. Thank you for the invaluable information.   And listeners, thank you for being here. Whether you're a current client, a future client, or just here to listen, like you guys are so valuable to us and I hope that you really truly feel that from us. If there's anything we can do to help you, to support you, or guide you, Hello@TheDentalATeam.com. Again, if you're not a newsletter subscriber, know that there's a slew of information in there. We write almost all of the newsletters from the consultant side ⁓ and we answer a lot of the emails that come through or the social.   requests and engagement over there too. So thank you everyone. Kristy, thank you and you guys will catch you next time.  

Content Creators CANNOT Write-off Clothes

In this engaging conversation, Jim and Loral Langemeier explore the myths surrounding money, the importance of financial education, and the connection between health and wealth. Loral shares her insights on living a corporate life, alternative investments, and the significance of teamwork in achieving success. The discussion also highlights the Millionaire Maker Game as a tool for financial education and the necessity of being proactive in financial planning.  Key Takeaways: Corporate structure is essential: Loral breaks down how running your life through entities—rather than as an individual—creates tax efficiency, asset protection, and long-term planning advantages. Everything you were taught about money is fragmented: Financial education in schools, from CPAs, and through media often ignores how real wealth is built. Loral outlines how integrating tax, estate, and insurance strategy is the missing link. Family legacy requires intention: Teaching financial values at home, not in school, is critical. Loral discusses how games, daily conversations, and structured learning can prepare the next generation to preserve—not squander—wealth. If you're still living as a sole proprietor, waiting for permission, or putting your future in the hands of traditional advisors, this conversation will challenge you to rethink everything. Connect with Loral Langemeier: Website: https://integratedwealthsystems.com/ Website2: https://askloral.com/ YouTube: www.youtube.com/channel/UCh0WrzMl0KfuNvQq04Ncs7Q Linkedin: www.linkedin.com/in/lorallangemeier/ Instagram: www.instagram.com/askloral/ Facebook: www.facebook.com/IntegratedWealthSystems/ TikTok: www.tiktok.com/@lorallangemeier?lang=en

In this conversation, Dylan Silver interviews tax strategist and real estate investor Isabel Uribe, who shares her insights on tax strategies, particularly in the realm of real estate. Isabel discusses her journey into understanding tax codes, the importance of tax strategies for building wealth, and the differences between CPAs and tax strategists. She emphasizes the need for financial education and the accessibility of tax strategies for everyone, not just high earners. Isabel also introduces her upcoming course, 'Keep It All,' aimed at helping individuals save on taxes and build wealth through real estate investments.   Professional Real Estate Investors - How we can help you: Investor Fuel Mastermind:  Learn more about the Investor Fuel Mastermind, including 100% deal financing, massive discounts from vendors and sponsors you're already using, our world class community of over 150 members, and SO much more here: http://www.investorfuel.com/apply   Investor Machine Marketing Partnership:  Are you looking for consistent, high quality lead generation? Investor Machine is America's #1 lead generation service professional investors. Investor Machine provides true ‘white glove' support to help you build the perfect marketing plan, then we'll execute it for you…talking and working together on an ongoing basis to help you hit YOUR goals! Learn more here: http://www.investormachine.com   Coaching with Mike Hambright:  Interested in 1 on 1 coaching with Mike Hambright? Mike coaches entrepreneurs looking to level up, build coaching or service based businesses (Mike runs multiple 7 and 8 figure a year businesses), building a coaching program and more. Learn more here: https://investorfuel.com/coachingwithmike   Attend a Vacation/Mastermind Retreat with Mike Hambright: Interested in joining a “mini-mastermind” with Mike and his private clients on an upcoming “Retreat”, either at locations like Cabo San Lucas, Napa, Park City ski trip, Yellowstone, or even at Mike's East Texas “Big H Ranch”? Learn more here: http://www.investorfuel.com/retreat   Property Insurance: Join the largest and most investor friendly property insurance provider in 2 minutes. Free to join, and insure all your flips and rentals within minutes! There is NO easier insurance provider on the planet (turn insurance on or off in 1 minute without talking to anyone!), and there's no 15-30% agent mark up through this platform!  Register here: https://myinvestorinsurance.com/   New Real Estate Investors - How we can work together: Investor Fuel Club (Coaching and Deal Partner Community): Looking to kickstart your real estate investing career? Join our one of a kind Coaching Community, Investor Fuel Club, where you'll get trained by some of the best real estate investors in America, and partner with them on deals! You don't need $ for deals…we'll partner with you and hold your hand along the way! Learn More here: http://www.investorfuel.com/club   —--------------------

Blatant Red Flag for IRS Auditors

Have you ever had a quiet moment, maybe you were standing at the sink or staring at your computer screen, and you wondered, Is this it?  Is this really how you're meant to live your life?  I hear this from clients all the time.  They'll come to me burned out and overwhelmed.  Everything appears successful from the outside, but inside, they are seeking more.  When I ask them one simple question, What do you really want, they get quiet. Not because they don't want more, but because they haven't allowed themselves to ask.  That's what today's episode is all about.  Not just dreaming bigger, but actually getting clear on your desires so you can create a life that feels like it was built for you.  Let's dive in… I'm inviting you to sign up for the free private podcast where I do a deeper dive into this topic on the Mastering Your Mindset Moments podcast for high-stress professionals: https://www.financialadventure.com/private Schedule your Complimentary Stress Audit and Clarity Session, where we'll work together to create a clear and focused plan for you to move forward so you'll immediately start enjoying your life with less stress, increased productivity, and more time to spend doing what you love with the people you care about: https://www.financialadventure.com/work-with-me Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here: https://www.financialadventure.com/accountant Ready to set up your business?  I have a program to help you get your business set up so that you can start making money.  Sign up for this program here: https://www.financialadventure.com/start Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You'll have the opportunity to see how you like coaching with an Introductory Coaching Session: https://www.financialadventure.com/intro Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business: https://www.financialadventure.com/profit If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here: https://www.financialadventure.com/sidehustle Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping: https://www.financialadventure.com/5essentials Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You: https://www.financialadventure.com/starterguide Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here: https://www.financialadventure.com/sba Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here: https://www.financialadventure.com/adp QuickBooks Online - Save 30% Your First 6 Months: https://www.financialadventure.com/quickbooks Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you: https://www.financialadventure.com/discovery Show Notes:  https://www.financialadventure.com This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

138 - Big Beautiful Bill - 9 key items for individuals, investors, and business ownersDo you want access to the videos, drawings, templates, tools, and be able to get your questions answered on the live calls or in the community? We'd love to have you join the Wealth Game basics today to get some additional free resources, videos, and tools: Visit www.wealthgame.io For specific one on one, or group support for tax planning, strategy, tax preparation, bookkeeping, accounting, or other CPA firm related services, we recommend going to www.bementcompany.com to connected with our team of CPAs and professionals. Thank you for listening to another episode of the Wealth Game Podcast. The goal is to get informal yet actionable advice directly to business owners and investors. The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes. For additional information and links to all available platforms please visit our website at www.wealthgame.io Contact Us: Websites: www.wealthgame.io www.bementcompany.com You can also stream The Wealth Game on: Spotify: https://open.spotify.com/show/5vKCgwK9K7zw1FrXoNAdoh?si=b95d0293bb4b41ad Apple Podcasts: https://podcasts.apple.com/us/podcast/wealth-game/id1638735155 Connect with Brent Bement: LinkedIn: www.linkedin.com/in/brentbement X: https://x.com/brentbement Instagram: https://www.instagram.com/brentbement/

How to Use AI for Law Firm Tax Strategy

The ONE time law firm networking beats law firm ads

Carmine Cicalese is the founder of Cyber CIC, who helps small and mid-market businesses implement effective cybersecurity solutions by bringing big-scale protection to smaller organizations.Through his strategic advisory services and risk assessments, Carmine guides independent advisors, attorneys, and CPAs to protect their businesses from cyber threats, drawing from his 29-year Army career defending national security.Now, Carmine's transition from running a $400M Army Cyberspace budget to helping private businesses demonstrates how military-grade security can be adapted for smaller organizations.And while keeping cybersecurity "boring" instead of fear-based, he's showing companies that preventing cyber attacks is far easier than recovering from them.Here's where to find more:https://cybercic.comhttps://www.linkedin.com/in/carmcicalesehttps://www.linkedin.com/company/64699699/admin/dashboardX @cybercicllchttps://www.facebook.com/CYBERCIC___________________________________________________________Welcome to The Unforget Yourself Show where we use the power of woo and the proof of science to help you identify your blind spots, and get over your own bullshit so that you can do the fucking thing you ACTUALLY want to do!We're Mark and Katie, the founders of Unforget Yourself and the creators of the Unforget Yourself System and on this podcast, we're here to share REAL conversations about what goes on inside the heart and minds of those brave and crazy enough to start their own business. From the accidental entrepreneur to the laser-focused CEO, we find out how they got to where they are today, not by hearing the go-to story of their success, but talking about how we all have our own BS to deal with and it's through facing ourselves that we find a way to do the fucking thing.Along the way, we hope to show you that YOU are the most important asset in your business (and your life - duh!). Being a business owner is tough! With vulnerability and humor, we get to the real story behind their success and show you that you're not alone._____________________Find all our links to all the things like the socials, how to work with us and how to apply to be on the podcast here: https://linktr.ee/unforgetyourself

Today's show:It's another blockbuster panel of insiders, as Alex sits down with Astasia Myers from Felicis, Matt Turck from First Mark Capital, and D.A. Wallach of Time BioVentures. AI is reshaping early-stage investing, with startups raising record-setting rounds adn chasing $100B+ markets. Meanwhile, biotech faces a “Great Depression” as public markets stay shut, putting added pressure on private capital. In healthcare, AI-powered virtual doctors promise to bring world-class medical advice to everyone, while fertility tech could revolutionize IVF by automating embryo handling and slashing costs. Hear our VC experts exclusive thoughts on these trends and much more!Timestamps:(2:21) The post-Q2 landscape and everyone's immediate reactions(05:00) Why biotech is in a “Great Depression,” even for AI companies!(9:36) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech(12:14) Overpriced vs. high-performing: Do high prices ALWAYS mean low expected returns and vice versa?(14:50) Mega markets: how AI is different from past software shifts(18:58) Everyone's companies are CRUSHING IT: why genAI has crazy tailwinds right now(20:33) Sentry - New users get 3 months free of the Business plan (covers 150k errors). Go to http://sentry.io/twist and use code TWIST(21:46) Product-market fit and revenue durability in AI(24:29) Marketing and community development for early stage founders(25:14) AI advancements in humor, avatars, and healthcare(29:30) Public - Take your investing to the next level with Public. Build a multi-asset portfolio and earn 4.1% APY on your cash—with no fees or minimums. Start now at public.com/twist.(30:45) Healthcare innovation and AI foundation models(35:37) AI differentiation, OpenAI valuation, and infrastructure companies(43:08) User experience in LLMs and AI inference costs(51:21) AI healthcare applications and founding team trends(56:28) Hiring trends, burn rates, and outsourcing in biotech(1:01:51) Government investment in biotech and the European AI ecosystem(1:06:43) Academic founders and the Felicis Fellows program(1:09:10) Recent exits and the outlook for the upcoming quarters(1:12:27) Innovations in fertility treatments and prenatal testing(1:15:51) Summary of bullish trends and future outlook(1:16:14) Closing remarks and future check-in plansSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: ⁠https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisThank you to our partners:(9:36) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech(20:33) Sentry - New users get 3 months free of the Business plan (covers 150k errors). Go to http://sentry.io/twist and use code TWIST(29:30) Public - Take your investing to the next level with Public. Build a multi-asset portfolio and earn 4.1% APY on your cash—with no fees or minimums. Start now at public.com/twistGreat TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason's suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.comSubscribe to the Founder University Podcast: https://www.youtube.com/@founderuniversity1916