Podcast appearances and mentions of eric levenhagen

Seeking more ways to Amplify Your Business? Register for our free Profit Growth Accelerator training at https://GrowthAmplifiers.com/Amplify. Growing your business can be challenging. In order to create sustained growth, you need to develop habits of success following proven strategies and frameworks. Join us as we interview the top B2B Advisors to learn their best strategies for success and pitfalls to avoid. We will share how to find your ideal clients and how to save time in the process so you can achieve more success with less headaches. When you're in the midst of being in the business in the trenches, it's really hard to see where you're at. It's hard to get that fresh perspective. We all have a blind side and today we're going to be talking about how to see your blind side in business. Eric Levenhagen has an experience and knowledge that really helping business owners to see the blind spots that they have in their business, and how to get around them, how to get ahead of them, so that they can strengthen their finances and build a profitable successful business.

On this weeks "best-of", Mike Michalowicz, Ron Saharyan, and Chris Curran speak with Tax Extraordinaire, Eric Levenhagen to discuss how you can coach or guide your clients through better tax preparation. Most entrepreneurs default to incurring expenses at the end of the year to avoid taxes and end up damaging their business as a result. Eric shares a specific strategy for appropriately reducing tax consequences without this very reactionary response, including techniques like entity selection, entity management, and modifying payroll based upon the type of company you have (including family members in the business). Eric also shares a way that bookkeepers who do not want to get into tax can partner up with a tax accountant.

Eric Levenhagen is a CPA and owner of Prowise Financial Coaching. Eric’s mission is to empower entrepreneurial abundance. To that end he leads small business owners through a proven process to drive permanent profits into their business, minimize their personal income taxes and maximize their after-tax wealth. Early on in his career, Eric identified that most of the financial services industry is broken and not built to get entrepreneurs the best results. Outside of the office, Eric enjoys spending time with his wife and kids. His hobbies include reading, following college and professional football, and music. What You’ll Learn in This Episode The difference between tax preparation and tax strategy How forward thinking can help you prepare for the next tax cycle Avoiding letting the new tax laws just “happen” to you The tools you may be using already to get proactive about tax savings, and some tools to be aware of Advantages of different types of corporate entity designations – should you be a sole proprietorship, LLC, S-Corp? How to find tax specialists with the experience and training to help you be proactive in your tax strategy Tax law changes that effect what is and is not deductible as a business expense Understanding changes to both corporate and personal taxes and considerations for each category Tax ramification differences between having employees and subcontractors The Golden Nuggets: “As entrepreneurs, we go to school, we get training, we have a set of skills and a ton of passion – but nobody really teaches us about how to handle the money.” – Eric Levenhagen “We help you answer the question, ‘How do I pay as little as I can in personal income tax legally and ethically, and how do I use the information from tax professionals to make my business better, to run it better?’” – Eric Levenhagen “What a tax strategist does is to help you in doing some forward thinking: where is your business going, where do you want to take it in the coming year, in the next three to five years? A tax strategist asks those questions and helps you plan accordingly.” – Eric Levenhagen “You can let the new tax law happen to you, or you can introduce one or two strategies that are right for you, and optimize these new laws to make a big difference in savings.” – Eric Levenhagen “Why did you decide to designate your business as an S-Corporation? The answer is not ‘because my tax person said that is the best thing.’ The answer is, ‘to minimize your self-employment tax.’” – Eric Levenhagen “I get a lot of questions about how the new tax law might effect the actual operation of a business, or decisions an owner might make. Really the effect on day-to-day operation will be very limited.” Eric Levenhagen “Before you throw up your hands and say, ‘this is all too confusing,” understand - with the new tax law, a future-looking solopreneur or small business can potentially see a tax savings of between $5,000 and $10,000 by working with a proactive tax professional.” – Eric Levenhagen “You can respect the power of the IRS, but you don’t have to fear them. There are perfectly legal strategies you can take advantage of to save on taxes without raising any red flags with the IRS.” – Eric Levenhagen “You just need to make sure that if you decide it’s better to, say, have contractors instead of employees, make sure that your working relationship with them is set up so the IRS will recognize that same working relationship.” – Eric Levenhagen

Eric Levenhagen founded ProWise Financial Coaching (formerly known as ProWise Tax & Accounting) in 2005. His mission is to perform a comprehensive service for his clients, unlike any other firm out there, and help clients lead a life of financial abundance. He is both a Certified Public Accountant and a Certified Tax Coach who integrates both disciplines into a holistic, client-centered approach towards maximizing his client’s after-tax income and wealth. You may remember Eric and the wisdom he shared during Episode 25. If you haven’t listened to, studied, and applied all he shared during our first interview...I highly encourage you to add Episode 25 to your list of vital priorities. What you’ll learn about in this episode: The two biggest advantages for business owners with the new tax reform Why vehicle deductions are getting better under the new law The family tax strategy: how this has improved How the qualified business income deduction works and how it can benefit business owners The importance of managing your taxable income Why S-Corps are still a great strategy for businesses that are actively earning income The benefits that come from working with a professional tax strategist Doing the additional work to maximize the tax benefits under the new tax code The value that comes from consistently optimizing your deductions Why you need to make sure that you have a proactive tax planner on your team How best to connect with Eric: Website: www.iowataxplanner.com  

How to strategically create cornerstone content, with Stephen Woessner. Good Morning Onward Nation – I’m Stephen Woessner and welcome to today’s solocast. Before we dive into the strategies that I wanted to share with you this morning – I first wanted to say thank you. Thank you for making 2017 the best year for Onward Nation – the most downloads we have ever had...the most countries we have ever reached...and the most impact we have ever created. Each and every day – my team and I are so very grateful for your generous gift of you sharing your time with us by listening to our episodes and then sharing your feedback by letting us know – thumbs up or thumbs down and how we can get better the next time. I am honored that you choose to invest a portion of the 86,400 seconds you have each day with our guests and with me. So I want you to know how much I appreciate you and that we are committed to raising the bar – the standard of excellence – the value we deliver to you. We as business owners – each of us every day – when we wake up and our feet hit the floor – need think of ways to deliver even more value to the customers and clients we have the privilege of currently serving – and – the customers and clients we look forward to serving in the future. There needs to be that insatiable hunger in you that drives your business to give more...to create more...to deliver more...because when that hunger is there...it not only elevates your business to that next level – but – it protects you by giving you what you need for survival. I have a Successories quote hanging on the wall behind my desk that encapsulates how I feel about the power of starting the day with the right momentum. The quote is called... “The Essence of Survival” and it goes like this... “Every morning in Africa, a gazelle wakes up. It knows it must run faster than the fastest lion or it will be killed...every morning a lion wakes up. It knows it must outrun the slowest gazelle or it will starve to death. It doesn’t matter if you are the lion or the gazelle...when the sun comes up...you’d better be running.” So thank you, Onward Nation, for being the driving force for my Predictive ROI team and I. We appreciate all of the hugs you have given us – and we appreciate the pushes, too. Please know – we are working hard to get better each and every day and please keep the feedback coming. So now let’s turn our attention toward today’s strategies... During Episode 659 several weeks ago...I shared some insight into why I firmly believe that most business owners look at marketing through the wrong end of the lens – and because of this – they tend to see an incomplete set of vital metrics – and consequently – they miss opportunities in lead gen, selling, and driving revenue. Onward Nation...in addition to expecting your sales and marketing efforts to create and nurture demand for your product and service offering...your marketing, and the content you create to power it, should also represent a profit center in your business – not a cost center. Yes, you should get paid to create content. And that is possible when you begin looking at your marketing through the correct end of the lens. You will see revenue opportunities beyond lead gen and customer acquisition. You will begin to see the opportunity for sponsorships, events, book deals, speaking engagements, and much more. During Episode 659 several weeks ago...I shared tangible examples of what I call Cornerstone Content. I defined what cornerstone content is and shared several specific strategies for how you can monetize the cornerstone content you create. So for today...we are going to take a step backward in the process – well before monetization – because I want to share with you a strategic framework that you and your team can use to create the content that you will later monetize. And yes, I agree – this does seem a bit backwards. Why share monetization strategies before sharing the strategy framework that makes it all possible. I decided to organize it this way...because if you are like me...and most business owners...I thought I need to paint the picture of what was possible in Episode 659...to give you a why this matters...because I could give you the road map for the “How”. So for today – I am going take several pages right out of the Predictive ROI cookbook so it can guide the strategic conversations you should be having with you and your team. This recipe contains the actual ingredients my team and I use when we are on-site working with clients during our 2-day intensives. The topics are deep...the topics will likely push you and your team to think creatively about your business development...and will challenge you to hold each other accountable. This framework will chart the course for you and your team so that when you wake up, you can start running and confidently know...you are running in the right direction. And ultimately, as a result of this process...you will be able to look at your marketing through the correct end of the lens, which will help you move your business onward to that next level because your marketing will no longer be a cost center – but a profit center for your business. Let’s get started by reviewing what I believe you and your team need to accomplish during Day One. Begin the process with a deep dive into your point-of-view – your position about why you do what you do within your business. Your point of view, or POV for short...is a bold statement about what you believe to be true. It might be provocative and thought-provoking...maybe even controversial. It may be turn off a wide swath of people who are not your audience – but for those who are part of your tribe, or could be...it will be a beacon in the night for them. When you say it...when you share it...when you build content around it...your tribe will hear and respond. Your POV will help you build an audience – it is that magnetic. And because of these attributes of a well-crafted POV...it may take some digging to find it. It typically doesn’t reside on the surface. You and your team will need to push each other to find it. It’s not about customer service, features, advantages, or benefits. It is about experience – why a customer chooses you over the myriad of other options in the marketplace. To help...think of some thought leaders and what they stand for and what their brands stand for...or what their positions stand for...or how they built a category when previous to them entering the market...the category didn’t even exist. Just like Simon Sinek did when he encouraged us to “Start with Why”. Simon now owns that very simple phrase – but because of his POV – and the cornerstone content he builds around it – it is very clear what he stands for and it drives everything in his business. Here’s my point. You can do the same thing in your business when defining your POV. You just need to take the time to do it. So...ask yourself...what do you stand for. What is the flag you want to plant in firm ground? And don’t move on to the next piece in the process until you have your POV complete. Next...who is it you want to serve? I often to refer to the client avatar lessons I learned directly from Darren Hardy, former publisher of SUCCESS Magazine. In fact, if you go to Episode 308 of Onward Nation...you will find a detailed recipe for mapping out and identifying the attributes of your client avatar. But identifying the attributes of your client avatar is only one piece of the puzzle. You need to take that a step further by converting the avatar into a list of your Dream 25 prospects – these are the people you would most like to serve as clients for your business. So how do you do that? LinkedIn. Here again...another free resource for you. Just go back to Episode 455 of Onward Nation and you will have access to our full recipe on using LinkedIn to identify your Dream 25 prospects. The recipe is comprehensive – but working through it – will give you everything you need to ensure you are using LinkedIn effectively to fill your sales pipeline. Next...you and your team will need to identify three unique attributes to your brand – what truly makes you distinctive in the marketplace? What do you provide that no other company provides? For example...at Predictive ROI...our three uniques are: One -- we help clients get clear on their point-of-view Two -- we help them create high-quality cornerstone content that cements their POV into the hearts and minds of their audience with consistent thought leadership And three -- we help clients drive revenue by transforming their content into a Trojan Horse of Sales, which you can learn more about this strategy back in Episode 600 where I break it down in full transparency. We also help our clients attract an audience so a third party brand will want to pay to gain access to our client’s valuable audience. All of this combined typically represents a 5x to 7x return on our client’s investment, which gives Predictive ROI a compelling – and unique – value proposition. So what are your three uniques? Talk about it with your team. But don't accept surface answers. Dig deep. And when someone suggests that it might be X...push back with the question, “Okay, why is X important to our customers?” And when one of your teammates answers the question, ask the same question again, “Okay...that makes sense...but why is that important?” Repeat the process three times to keep peeling back the layers. And by the third time...you will arrive at something truly unique about your offering. Okay, by this time in the day – you will have accomplished a lot – your team will likely be ready to wrap and be finished – and deservedly so – you have checked some large boxes off the list. There is just one more box that needs to be checked to complete Day One – and that is to give your process for delivering your uniques...a name. At Predictive ROI...we call ours The Predictive ROI Method. I encourage you to keep it simple. Simple is best because if you are not careful, it will start to sound like marketing hyperbole, a bit slick, and too showy. And you don’t need that. Keep it simple. And then go celebrate with your team – you just accomplished some serious business development and strategic work. Okay...now come back refreshed for Day Two, which is all about defining what type of cornerstone content you plan to create -- and -- how you will define success and measure your progress along the way. You will begin the process by deciding what type of content will become your cornerstone. For example...do you prefer to speak or do you prefer to write? If you prefer to speak, you may want to consider a podcast, speaking engagements, or a video series as your cornerstone. Or, if you prefer to write...you might select blogs, articles, books, or research reports as your cornerstone. Or, you may enjoy aspects about both. For example, I enjoy interviewing guests for our Onward Nation episode – but – I also enjoy writing books. So for now, these are my primary cornerstones. So what do you prefer? To begin – you only need to – and only should – select one cornerstone. Then master the system and process with it before you select another one. Ideally, you should have at least two because that will keep you from being seen as a one trick pony – true thought leaders share their content across multiple channels, which gives – or creates the impression – that their content is everywhere, which of course it isn’t – but it sure seems that way to their target audience. Your POV will be the anchor within your cornerstone content. Each and every episode – every article – every blog post – will all point back to your point of view, which continues to plant your flag in firmer and firmer ground. And one of the most powerful aspects to creating high-quality cornerstone content is the amount of leverage each piece of content gives you through slicing and dicing. For example...you could take one of your podcast episodes...and transform it into 10 tweets, an eBook, top insights briefing that can be shared with your best customers, etc. Or, you could distill the content from 100 episodes down into a research report that truly sets your company apart from competitors in your industry. The point is that there a myriad of ways for you to slice and dice your cornerstone content into additional “spokes” that move out from the hub...and each spoke helps you extend your thought leadership even further and attract an even larger audience. Once you define the type of cornerstone content you will be producing and some of the spokes – the slicing and dicing that each cornerstone will provide you...it is time to begin formalizing your 1 and 3-year plans. Obviously, 3 years is a long time given the dynamics in tech, ever-changing economy, and the other factors that make predicting the results of a 3-year plan challenging at best. So for this exercise, I recommend you focus your attention around what success would look like for you at the end of 3 years. How will you know when you have reached where you wanted to go? Is that a number of employees, is it the size of audience, is it the amount of revenue generated by sponsorships, is it the number of attendees at a private event you are hosting, or how you have turned your business into a media channel? If you don’t take the time for you and your team to conceptualize a 3-year view of your business – then you may lose valuable time aimlessly wandering the wilderness, much like a leaf blowing in the wind. It has been my experience, that the following core elements are what makes up a simple – yet sound – plan to keep you and your team on track: First...identify your most vital priorities – the core things that you must accomplish or nothing else matters. Second...what are the measurables? How will you know when you have arrived - what does it look like? Third...what is the tactical plan? Who is going to do what, and when? Fourth...what are the obstacles or roadblocks that will likely rise up to get in your way – and if they do – what are the likely solutions that can be executed quickly? And lastly...accountability – who will be held accountable, to what, by whom, and when will checkpoint meetings or scorecard reviews be held so that progress can be evaluated and course corrections can be made if necessary? So...as we bring today’s solocast to a close...I want to leave you with one more example as to why this final thought regarding the strategic framework that we just reviewed. When you get this right – you give yourself the freedom and flexibility to build the kind of business that you want – that you desire – to truly live the kind of life that you want to live. Recently, I interviewed Dianna Booher for an encore episode, which airs on Monday, February 5th as Episode 678 – and during our discussion – Dianna explained how she was able to sell her company because of the reputation she had built in the industry as a thought leader because of her books, training courses, and other ways she helped create impact with her audience. Her body of work is impressive and she was rewarded for it – and you can follow a similar path if you are willing to put in the work. ------------------------------- So with that said...I want to again say thank you. Thank you for being here...thank you taking some of your invaluable 86,400 seconds you have today and sharing them with me. Please drop me a line at Stephen@predictiveroi.com and let me know what you thought of today’s solocast – thumbs up or thumbs down. I always want to know what you think so we can continue to get better and better and be of greater value to you and your team. We will be back tomorrow with an encore interview with Eric Levenhagen. You may remember Eric from the tax planning strategies and recommendations he shared way back in Episode 25. And when the new tax laws were passed, Eric and I quickly compared schedules to get him back from an encore interview. I wanted Eric to share his insights and recommendations from the perspective of a business owner to help make sense of the new legislation – but even more importantly – what you can do about it to protect yourself, your family, your business – while minimizing the taxes you pay. What Eric shared could represent tens of thousands in tax savings for you and your business. Until then...onward with gusto!  

As soon as I heard the tax law had passed, I made one call – to Eric Levenhagen, my personal tax advisor who has helped me craft my own tax strategy for years and today works with many agency owners across the country. I had two questions for him: 1) How do we need to alter the tactics we’ve been applying for my businesses and 2) Will you be on my podcast and help my listeners understand how the tax laws will impact them? As you’ll hear, we got right to the heart of the matter and spent the entire episode talking specifics about how we can take advantage of the new law and what we’re going to have to shift because it’s no longer advantageous or possible. I hope you’ll listen and walk away feeling like you have a better handle how the new tax law is going to impact your agency and your personal finances. Eric Levenhagen founded ProWise Financial Coaching (formerly known as ProWise Tax & Accounting) in 2005 Eric’s mission is to perform a comprehensive service for his clients, unlike any other firm out there, and help clients lead a life of financial abundance. Eric is both a Certified Public Accountant and a Certified Tax Coach who integrates both disciplines into a holistic, client-centered approach towards maximizing his clients after-tax income and wealth. Outside of the office, Eric enjoys spending time with his wife and kids. His hobbies include reading, following college and professional football, and music. Finally, Eric is an aspiring traveler and hopes to be able to take his family many places around the world someday.   What you’ll learn about in this episode: What isn’t changing with the new tax law The big deduction changes you need to know about (both for S Corps and C Corps) Income pass through: the specifics of the 20% deduction you will now get on income that rolls down to your personal taxes from your agency and any other businesses you may own (as long as you don’t make too much) Why we don’t know everything about the new tax law yet (and why it will take months or years to figure everything out) The loopholes that are going to appear in the next few years and why you need a tax strategist (and not just a tax preparer) to find you those loopholes How the new tax law will impact agencies that make stuff for clients and those that consult and sell their knowledge as a stand alone product How the way C Corps get taxed will help those making over $100,000 in net income but hurt those making under that threshold Are there any things that agency owners should shift from their personal taxes back to the business? Keeping versatility in your tax plan so you’re not stuck if and when things change again when the tax law changes again How to get your money out of your agency to invest elsewhere under the new tax law (and why it differs for S Corps and C Corps) Ways to contact Eric Levenhagen: Website: www.prowisefinancial.com We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Stephen is the CEO of Predictive ROI and the host of the Onward Nation podcast. He is the author of two bestselling books, speaker, trainer, and his digital marketing insights have been featured in SUCCESS, Entrepreneur, The Washington Post, Forbes, Inc. Magazine, and other media. Good Morning Onward Nation…I’m Stephen Woessner. My hope is that you’re having a rock solid awesome Wednesday…and…that you’re making consistent and steady progress toward your vital priorities for the week, for the month, for the quarter, for the year, and for your life. Moving toward your goal — even if it seems like your progress is just one inch at a time — movement — and movement forward is vital. So keep moving forward Onward Nation! Don’t ever quit. And one of the ways for us to stay motivated to continue pushing forward is to have a crystal clear vision of our destination. And I know that sounds cliche — and you may have just rolled your eyes at me — and I get it. We all hear how important goals are — goals for sales, goals for new employees, goals for new markets, new products, goals for this — goals for that. And I find myself creating goals — new goals — new adventures — new challenges — new ways to push what we are doing to that next level…but rarely — if at all — have I ever considered profit as a goal. Yeah, seriously, a profit goal. Like never — at least until recently thanks to the urging and prodding of my certified tax coach, Eric Levenhagen, our guest on Episode 25 of Onward Nation. Eric’s profit-focused lessons to me — more like thumping me over the head with knowledge — consistently — relentlessly actually — finally got through. He has been teaching and coaching me through the Profit First System — and it is beginning to revolutionize my company. Profit First was created by Mike Michalowicz and the book — the philosophy — the mindset shift behind it — is phenomenal. You can find the book here. Aside from my ringing endorsement of Mike’s book — I am also pleased to share that Mike will be our guest on Onward Nation Episode 361 — rock solid awesome — just confirmed that yesterday. And Eric — if you are reading — thank you for the wonderful introduction to Mike — much appreciated, my friend. So for today’s solocast…I am going to share — what I hope will be — valuable lessons into a variety of metrics that will help you become more profitable. Let's dive in.

Eric Levenhagen is committed to helping entrepreneurs achieve personal success and financial peace of mind by helping them overcome their biggest financial obstacles.   Secret -- timesaving technique Get into the flow of the workday by limiting distractions -- Identify your vital priorities. ONWARD! Daily habit that contributes to success Eric makes a visual map -- takes time to look at it throughout the workday -- and uses it as a revitalization tool. Could have ruined your business -- but now --  an invaluable learning experience Eric had to overcome the major challenge of leaving a secure job for the world of entrepreneurship-- and Eric tells the whole story here. Most critical skill you think business owners need to master to be successful “A business owner has to implement a proper financial system to drive profitability.” Most influential lesson learned from a mentor “Stop trying to promote yourself and just focus on quantifying the value you bring to consumers.”   Final Round -- “Breaking Down the Recipe for Success”   What systems would you go back and put into place sooner? “I would have put a system in place to control the influx of unnecessary work and client scheduling.” What one strategy or “recipe” would compound into big wins for business owners? Protect your cash-flow with an adequate system because it’s vital to the sustainability of your business. How to exceed expectations and add the most value? An individual who comes to the workplace with the viewpoint that their occupation is more than a job. What strategy would you recommend new business owners focus on to best ensure success? Put profit first Find innovative ways to get more done for less How best to connect with Eric: http://www.iowataxplanner.com