Podcasts about s corp

Send us a textMost business owners are driving right past thousands in tax savings without realizing it. In 2025, the IRS raised the standard mileage rate to 70 cents per mile, but that's only the beginning.In this episode, Mike breaks down exactly how to structure your auto deductions, avoid costly mistakes, and choose between the mileage method and actual expenses.

Here's a Q4 planning session - we're covering numbers, budgeting and planning for the coming year. Let's talk about some things we should all think about in Q4 and how those considerations impact how we shift and approach things in the year ahead. Get a FREE MONTH with the Inventory Genius Calculator - https://www.ciarastockeland.com/inventory-genius-calculator Work with Me - https://www.ciarastockeland.com/work-with-meVisit the Bookstore - https://www.ciarastockeland.com/bookstoreSign Up for Free Weekly Tips and Trainings - https://www.ciarastockeland.com/subscribe More About the Episode Sponsor:T&O Strategic Advisory (http://www.tostrategicadvisory.com/) - Offering a wide range of tax and accounting services, including entity election and S-Corp advisory.

Here's a Q4 planning session - we're covering numbers, budgeting and planning for the coming year. Let's talk about some things we should all think about in Q4 and how those considerations impact how we shift and approach things in the year ahead. Get a FREE MONTH with the Inventory Genius Calculator - https://www.ciarastockeland.com/inventory-genius-calculator Work with Me - https://www.ciarastockeland.com/work-with-meVisit the Bookstore - https://www.ciarastockeland.com/bookstoreSign Up for Free Weekly Tips and Trainings - https://www.ciarastockeland.com/subscribe More About the Episode Sponsor:T&O Strategic Advisory (http://www.tostrategicadvisory.com/) - Offering a wide range of tax and accounting services, including entity election and S-Corp advisory.

In this episode of The Dept., Omar sits down with Karlton Dennis, tax strategist, entrepreneur, and content creator. To unpack how he built an eight-figure business by blending tax strategy with personal branding. Karlton shares how he grew his YouTube channel from zero to 100,000 subscribers in just three months, why content is the ultimate trust builder, and how he turned videos into both cash flow and clients. They dive into smart tax strategies for entrepreneurs, from when to move from an LLC to an S-Corp, to making your lifestyle legally deductible, to building wealth through real estate. If you want to grow your brand, pay less in taxes, and scale your business with confidence, this episode is packed with practical insight and inspiration.

https://www.frommilitarytomillionaire.com/pcs

Michael Wedaa  - Augmentus Business Solutions On the Keeping the Details Correct: "If your address is your old business address with the Secretary of State or with the IRS or on one of the credit bureaus, there's an algorithm in a lot of banks that will give you an automatic denial." Money makes the world go 'round, and it does that by flowing.  Money in your business, money out to employees, vendors, investments, and the ever present tax-man. But what if you could shuffle your money a bit to be able to improve the flow to the good things to build your business and your net worth and reduced the amount going to the less than good things?  Would you want to learn how to reduce your tax burden, limit your liability and build your business credit?? The crazy thing is, a lot of these strategies are simple and effective.  The crazier thing is that many entrepreneurs don't know about them or feel they are too small for it to matter. It matters. Michael Wedaa is the owner of Augmentus Business Solutions.  Their purpose is to help businesses navigate the game of business to make and keep more money.  He understands the nuances and differences between things like LLCs, S-Corps, C-Corps, and how you want your different business entities to be structured. Listen as Michael goes into detail on business credit, taxes and business entity differences. Enjoy! Visit Michael at: https://www.augmentusinc.com On Instagram: https://www.instagram.com/corp_llc_guru/   Podcast Overview: 00:00 Understanding Business Credit Types 07:23 "Ensuring Business Credit Readiness" 12:22 Boost Business Credit with Proper Address 18:05 Kid-Friendly Jobs and Saving Tips 22:51 Passive Income through Market Rent Strategy 31:32 Protecting Assets with Equity Liens 36:55 Strategic Lien Planning Explained 41:22 Real Estate Investing with Business Credit 46:18 Delaware Business Court Advantage 48:50 "Registered Agent Requirement for Businesses" 59:11 Asset Protection Through Liens 01:04:44 "Business Rogue: Advanced Corporation Hacks" Podcast Transcription: Michael Wedaa [00:00:00]: No, but, you know, business credit is what I wanted to talk about today. As you know, we focus on helping people get the most out of their corporation or llc. And one of the ways we help people do that is by helping them build business credit. And business credit is very different from personal credit. The rules are different. James Kademan [00:00:25]: You have found Authentic Business Adventures, the business program that brings you the struggle stories and and triumphant successes of business owners across the land. Downloadable audio episodes can be found in the podcast link found@drawincustomers.com we are locally underwritten by the bank of Sun Prairie Calls On Call, Extraordinary Answering Service, as well as the Bold Business book. And today we're welcoming Slash, preparing to learn from Michael Wedaa of Augmentus Business Solutions. And Michael, we're hitting a lot of things here. The business credit, I believe, is the main one. So let's just start out with what is business credit? Michael Wedaa [00:01:01]: Great. No, first off, James, it's great to spend some time with you again. It's been a while since we last. James Kademan [00:01:06]: Chatted, but it has, you know, it's funny. I'll just elude here a little bit. YouTube is moving into shorts and all that jazz because they're trying to compete with all the other social media things that have short videos. And so we just got fancy software, whatever to find shorts. And it's interesting because some interviews, you're like, yeah, there's a handful. And yours is like, ba, bam, bam, bam, bam, bam, bam, bam. All good stuff. So I'm so happy that we have you on here a second time because, well, good. James Kademan [00:01:34]: Now we get more content for the masses. Michael Wedaa [00:01:36]: Right? That's right. That's right. No, but, you know,

Send us a textDo you have a home office? The desk you're sitting at could save you up to $1,500 a year in taxes.Many business owners skip this deduction because they think they don't qualify or fear an IRS audit. The truth is, most do qualify. One client of mine saved $1,100 in just 30 minutes by setting it up.In this episode, Mike Jesowshek, CPA, explains who qualifies, the two ways to calculate it, how to document properly, and the mistakes that cause business owners to miss out. You'll also learn how the home office deduction can unlock other tax savings like business mileage.

Thinking about switching to an S-Corp—or staying with your LLC? This episode breaks down exactly what's changed in 2025 and how to pick the right entity for your business. I walk you through the pros, cons, and the hidden costs nobody talks about. Whether you're just starting out or making six figures, you'll leave knowing what to do and when to make the switch.   Next Steps:

BOSSes, Anne Ganguzza is joined by her lovely co-host, Danielle Famble, for the Boss Money Talk Series. The BOSSes tackle a fundamental challenge of a voiceover freelance career: managing inconsistent income. Drawing from her past job experiences, Danielle shares practical wisdom on how to budget, save, and build a financial cushion. This conversation redefines "budgeting" as a tool for empowerment and offers a strategic roadmap for every voice actor to take control of their finances, ensure stability, and thrive.   00:00 - Anne (Host) Hey guys, are you ready to achieve those dreams? With MyLife Transformation coaching services, I can help you reach your full potential. Don't let fear and uncertainty hold you back. Take control of your life today. Visit anneganguzza.com to get started.  00:20 - Speaker 2 (Announcement) It's time to take your business to the next level, the boss level. These are the premier business owner strategies and successes being utilized by the industry's top talent today. Rock your business like a boss a VO boss. Now let's welcome your host, Anne Ganguzza.  00:39 - Anne (Host) Hey everyone, welcome to the VO Boss Podcast and the Boss Money Talk Series. I'm Anne Ganguzza and I am here with my lovely co-host, Danielle Famble.  00:49 - Danielle (Guest) Hey Anne, hello Danielle, hey, hey, how you doing, how are you? I'm good, I'm good, I'm good.  00:53 - Anne (Host) Well, I am glad to have you back and I have a topic for discussion today, because I've had, on more than one occasion, some students recently talk to me about gosh. I'm just having a hard time finding work and I don't know if I should continue to stay in this industry because it's just getting too hard. I mean to sustain it, and so what should I do? It would be a worthy topic of discussion to talk about, like this particular industry and how we handle our financial situation in times of inconsistency, because it's just a known fact, guys, bosses out there, it is an inconsistent, it is part of being an entrepreneur. Our, our income is inconsistent. So what do we do and how do we budget for those times when maybe it's slow or, you know, when it's not slow, and what do we do when we have inconsistent income?  01:55 - Danielle (Guest) That's such a good question. That's a big part of being a boss, being an entrepreneur and being in this business, and it's good to give the perspective one you know to your students that you're coaching and to anyone listening. You're not alone. It doesn't mean that you're a bad voice actor. It doesn't mean that you're bad at this business. That is the nature of what it is, that we do, and so it has nothing to do with you or your worth or the fact that you're not good. Slow months happen all the time. It happens to the best of us.  02:24 - Anne (Host) And you know, I think it's really something a point worth mentioning is I've been in this industry about 18 years and it's always inconsistent, like there's not been a year where it hasn't been inconsistent. So it is something that I think, if you plan correctly and you're prepared for, it doesn't come as a surprise and it's something that you can absolutely continue to grow and build your business through oh, totally Inconsistent income. So, as long as you plan and strategize, yeah, and you just know this is normal.  02:56 - Danielle (Guest) This has not got anything to do with you. This is a normal thing, you know. It reminds me of I don't know if you know this, anne, but I used to be a waitress for a long, long time. I was a waitress at comedy clubs and the way that I made my money was on tips, and so I got used to living on an inconsistent income and realizing that there's going to be a couple of days or weeks or months where it's going to be great and then it's going to be slow. Maybe you get cut because it's so slow that they don't need you to be there. But you know, the thing that didn't get cut was my fixed expenses, my rent, my cell phone bill, all of those things.  03:35 So I would say to those are stable. Yeah, figure out what your stable expenses are and make sure that you can keep that as your base and plan for your base Anything on top of that. You know when times are great and when you're making a lot more money, you can use that to keep it to the side for a buffer, but really just know what your base expenses are, which then goes back to our longstanding conversation about knowing your numbers and the data and everything else. If you're too afraid to look at what your expenses are, you're not going to know what your base is that you need to be able to maintain at all times. So really like have the courage, look at what are your expenses that are fixed, that are stable, and know what your base is, and you want to be able to hit your base every single month.  04:22 - Anne (Host) So then, budget around your worst month, not your best month. Yeah, absolutely Right. And and that and the and the numbers on your worst month can can actually like I. I mean, I could say what are your expenses and your worst month would be you didn't make anything. Budget around that. That's what I would say. Right, that's your worst case scenario, and so you'll still need to be able to function. And so what does that mean in terms of if I don't make any income for an entire month, does that mean I should give up my voiceover business, danielle?  04:54 - Danielle (Guest) I don't think so, but I do think that you do need to have some way of knowing that there is income coming in from another form. So maybe it's not the income coming in from your voiceover business, because you didn't make anything that month but you do have a nine to five or you do have a babysitting job or you do have. You know, you do Uber on the weekends or what have you. Just know that there needs to be, that money needs to be coming in from somewhere else. If it's not coming in from somewhere else, then we need to find how can we get to our first dollar. Is it in voiceover? Is it in another way of making money? But make sure that you know that there is some income coming in so that, even if the income from your voiceover business is at zero for the month, you know that there is income coming in from somewhere else that's going to be able to offset and still hit your baseline goal.  05:43 - Anne (Host) And I think your budget right for those months you don't live on that budget. I mean it should be a budget for a budget that is a low-income month, not necessarily like I'm going to continue to go to Starbucks every morning or I'm going to. Maybe that's a necessity, maybe you feel like that's worked into your bare necessities, but is that something that you're willing to give up in a low-income month? Or is going out to dinner? I think that's the biggest one. I think, like my husband and I are like okay, we got to stop going out to dinner, right, because that's an unnecessary expense. If we're trying to tighten our budget during a low-income month, it's mostly like oh, and we're going to go out and spend money doing this, or are we going to go out and spend money doing that? A lot of times it's based around food. Why is that?  06:25 - Danielle (Guest) Yeah, I mean, that's mine as well. It's food, but then sometimes it's you know, if you're going to be spending additional money on things in your business, maybe it's that you forego coaching for the next couple of months because you don't really have the money for that, or maybe you need to forego some other things in your business and subscriptions that maybe can be paused. It's not just what you're doing in your life, it's also things that you can cut back in your business too, so that you can make sure that you know. You know, I know that my fixed expenses for the operations of me are this these are the things that will you know, that are always going to stay the same my housing, food, you know, basic necessities, business expenses.  07:10 - Anne (Host) Business expenses as well, I'm going to say rocket money. I had a free trial and I used it. It's great for finding out those recurring monthly expenses that you have that all of a sudden like oh, that Sirius XM like subscription that I have for my car, which I don't drive very often because I work from home, right, but now I can play SiriusXM everywhere, but still that subscription costs, and it used to only cost like $12.99. Now it's like $25 a month, and so that can help you keep track of those subscriptions that creep up on you that you may or may not be utilizing.  07:44 - Danielle (Guest) And everything is a subscription nowadays, so really you have to. It's so sneaky, but you can find a lot of unused subscriptions and then you can recoup some of that money back just by saying no, thank you to those subscriptions.  07:59 - Anne (Host) Think about your Starbucks as a subscription. That's true, really, if it's something you do every day, I mean really. I mean I know there's a lot of people that that's a daily habit, and you know. Think of that as a subscription. And one other thing I wanted to mention, and I would not have even thought of this really until I incorporated and became an S Corp but I am required to pay myself a salary, right, and that's something that you know.  08:22 When you're trying to like skimp on your, your budget, or you're trying to figure out your expenses, don't forget you need money to live, you need money to buy the groceries, you need money to pay the rent you need, and so I think it's always a good idea, even if you're not an S-corp, to really kind of think about here's the money coming in. A portion of that should be set aside for my expenses, for me, right, that's my salary, and then pay yourself on a set schedule. I think that helps you really get an idea as to okay, here's the money I need to live on, here's the money that's profiting in my business. I don't know. It's just one of those things that maybe it's worth it to take a look at.  09:03 - Danielle (Guest) Absolutely. That should be a core staple that everyone should be doing is you know we're doing this. We're in business to make a profit, and so the idea is I need to get paid, and making sure that you pay yourself first so that you are getting used to, and your business is getting used to, that expense of making sure you're paid. That's the study and that's actually how you can stay steady is okay. I know that I'm going to be paying myself a certain amount every single month. That is the expense of my business to pay me, but that's also how I'm able to pay my bills, keeping that steady, and it doesn't need to be that you wait until you are an S-Corp to do that. I would say try to start doing that as quickly as possible. Once you have established the fact that you're doing this business, you're in business.  09:51 - Anne (Host) I would not have realized that until you know I really started an S-Corp and I should have actually. Again, I needed to take a look at the numbers.  09:59 - Danielle (Guest) Here's the deal when you do have those lean months, it doesn't come as such a shock no-transcript Because if you wait, that is going to be a surprise likely to you where you're not really expecting it. And then you get into a really unfortunate situation where this inconsistent income has caused an inconsistent pattern in how you're paying yourself and how you're putting money to the side. So make sure that when you're paying yourself you're also making sure to take care of your tax liabilities.  11:01 - Anne (Host) Yes, Excellent idea. And another thing, as I look at you here in your brand new, shiny, sparkly studio, right and we've talked about this so many times before is having that financial cushion, right, Having that emergency fund. But I think honestly, like, if you can have more than just that emergency fund, which doesn't get touched under the extreme circumstances of an emergency, but consider having another fund which is, you know, just a one to three cushion fund, right, Right that you have to live in the event that you have a slow month, right, and having that separate fund where you feel secure and confident that you can take from that fund and you're not dipping into that emergency fund. Because I always feel guilty if I'm dipping into my emergency fund. Well, number one, because my emergency fund is heavily invested in my high-yield savings account, which doesn't mean that you can't have a one to three-month cushion also sitting in a high-yield savings account, and so I always feel like, oh, I don't want to touch that because I want to keep earning interest on the greatest amount of money possible Sure yeah.  12:06 And so that's my emergency fund, but also maybe having a separate fund just for, oh, times are lean this month and you know, and I'm going to say, maybe, in order to give me better mental health, I do need a Starbucks today or I do need a pair of earrings today. But I'm going to be a caution. I'm going to caution people to not necessarily go out and shop your, your financial worries away, because you know, that's me. I've definitely been in that trap where, oh, I just need to feel better. Let me go out and buy some new clothes, yeah, or a new lipstick, yeah.  12:41 I think try not to do that. But you know, I think that one to three month other fund that you have will help you to pay the bills.  12:47 - Danielle (Guest) Absolutely. And so then you can use sort of a system where you're making sure that when things are inconsistent and times are a little bit leaner and you're not making as much money, you know what your baseline, your core base expenses are. And then, when things are going really well and you're making a lot more money and you had a really great month, you put some of that money to the side in that cushion fund that's not your emergency fund and when things are low, you use that cushion fund to make sure that you're staying afloat. I like that sort of cycle of making sure that you are taking care of yourself. It's not necessarily feast or famine when things are going really well.  13:28 You have already looked ahead and taken care of yourself, because you know that this is a cyclical business, this is inconsistent. It's an inconsistent income kind of business and you know that one day you're going to need to use the money that you are currently making. Don't just spend everything that you're making. Put it to the side so that when it is inconsistent and when it is a slower month, you're pulling from the times when you had a really great month to keep yourself, you know, in balance. And that's, I think, the way to do it is you should look at this month or any given month, as am I taking care of me now, or am I taking care of me now and me in the future? But always make sure that you are doing that delicate balance.  14:16 - Anne (Host) Speaking of, you know, setting aside money for taxes, and setting aside, you know, that money. Don't forget about retirement guys. Don't forget about a retirement fund. Please don't forget about retirement. One thing I want to say is that and I'm not a money girl, right, or I never thought of myself as a money girl, but can I just tell you, the software companies are making it easier and easier. Like your credit cards are now categorizing your spending, right, Because, of course, they want you to use the credit card more. So they're going to categorize it and you can find out where your expenses are going, and if you use the credit card, you can get 3% back. Blah, blah, blah, blah blah. They want to encourage credit card spending, but also you can use that as a method for really finding out where is all your money going.  14:57 Quickbooks like I never thought. Like my QuickBooks Online. Like you can generate a report literally a report in a matter of seconds, Whereas before it used to be really difficult, man, If you were doing like spreadsheets. And I don't know, Danielle, I can't remember what product you use, but I mean I need something simple, something that does the work for me. Some people are really hardcore and go right into the Excel spreadsheet and that's how they track their budget. But, like for me, I just generate, I flip, I generate a report really quickly in QuickBooks and it tells me, oh my gosh, I spent so much money this month on my expenses going out versus what was coming in, and so I can really then make an educated and strategized decision based upon those reports.  15:39 And I can do, I can generate those reports at the flick of a button. And even if I hate finances right which I know a lot of people don't like to look at their, their money yeah, it's again one of those things. This is your business and it is something that, if you're not looking at it, pay somebody else to do it, like my accountant. Then talk with your accountant and say, hey, look, where's all my money going. Or I found that I had a slow month. And then have that weekly meeting or that monthly meeting that says here, OK, they can break it down for you and say, look, you're, they can generate the reports and they say, look, here's what you're spending on lipstick and or here's what you're spending on restaurants going out, and here's where you can maybe potentially save money. Or think about taking this money that you have left over and putting it into this type of an investment account.  16:23 - Danielle (Guest) This money that you have left over and putting it into this type of an investment account and taking care of future you.  16:29 So you've got sort of the shorter term future you of this one to three months cushion for when times are lean. You've got your emergency fund, which usually I say you know, six to eight months I say closer to for me, yeah, six to eight months, which is a pretty big emergency fund, but that's because we're self-employed and so I want to have a pretty good cushion, or the longer term fund being your retirement. And there are ways, depending on how you have it set up, where, if you're investing in your retirement account, that helps you in tax time because it might lower the amount that you are paying on your taxes.  17:05 So it is always forward looking. It's looking at what's happening today and it's looking at what would be happening in the shorter term future or longer term future. And how can you use the windfall that you have or maybe are not experiencing now? How can you use that to keep you afloat, you know, with your core base expenses. But it really is again going back to do. You know what those core base expenses are Right, and how can you stay, you know, level with them. And if you need to dip into the bank of you, then you can do that with no shame and no problem, knowing that you've already done the work to take care of yourself.  17:44 - Anne (Host) From a girl that's a little less of a money girl to a girl who is a money girl. One thing that always sneaks up on me are those antics annual fees or the recurring right subscriptions or that come up once a year. Because I went from let's not do it every month, let's save and let's do yearly subscriptions, but every once in a while, if I'm not paying attention, that yearly subscription will come up and it'll be taken out of my account and I'll be like whoa, how do you do you prepare yourself? I do For those things. So talk about how you prepare you know some of those things.  18:18 - Danielle (Guest) you know we use the word like surprise expenses, when, like it's kind of like these are super noble things, like yeah, I signed up for that credit card that has that high annual fee.  18:27 - Speaker 2 (Announcement) It was me.  18:28 - Danielle (Guest) It wasn't like some, somebody impersonating me Right large expense, that is, a knowable expense. I typically will put a calendar alert in a month in advance so that I can remind myself that this is coming. For example, my credit cards. I have the American Express Platinum card, I have the American Express Gold card and they have very high annual fees and for some reason I applied for them around the same time of the year and different years. So they, the annual fees, they come and they hit like roughly, like right, one after the other and I always think to myself Danielle, what did you do?  19:05 Why did you do that? Why did you do that? Why did what were you doing in December that you really needed a new credit? Why did you do that right in the same time. And that's, you know, my own personal journey. But I know that it's coming, so I can prepare either a little bit every single month to make sure I'm ready for that, yeah, or because I've given myself that calendar alert saying hey, danielle, just so you know this is coming up next month, I'm already mentally and financially prepared that that hit is about to happen. Most of those, you know, those subscriptions, those annual subscriptions, those are things that are knowable expenses, albeit big expenses. So your calendar is your very best friend. Give yourself the heads up and know that it's coming.  19:49 - Anne (Host) I agree I live by my calendar anyway for a day-to-day schedule of things that I'm doing. And I think if you have a calendar, a financial calendar, I mean my goodness. I mean you could make an easy financial calendar. I use Google Calendar for everything and they're color-coded when do I have coaching sessions? When do I have monthly workouts coming up, when do I have all of these things, holidays and that sort of thing, so you could have a financial calendar that has all of your subscription renewals and or your monthly costs, like those base costs that we talked about, so that you're prepared.  20:25 This month I'm going to plan on spending this amount of money. And also, again, it's one of those things that if you have an accounting software that can be generated in an accounting software easily, your monthly budget, absolutely, and you know it's something that you need to like. And again, I'm talking from a girl. I'm not a money girl, but I have to force myself to do that and take a hard look at what's going out every month and how can I cut? And I recently just said, ok, how can I trim the budget in my company, because I had been like, oh, let me try this software. I'm a big risk taker Danielle, and we talk about this thing, I hoard software too.  21:04 Yeah, I buy software subscriptions, I try things out and then I forget about them sometimes right.  21:10 I was like, oh, I haven't used it. I tried that out, I paid for the subscription, I forgot about it. So every once in a while I have to revisit what am I putting my money into, and has it given me a return on my investment? And if not, I need to trim the fat. And so I really I did that more recently so that I could have money to invest in something different.  21:31 So again I had, and I invest in in people who who work for me, and again I wanted to invest in some additional advertising, and so I needed to get that money from somewhere Right. So I had to kind of figure out where can I consolidate my expenses Right? Can I get, now that you know I've evolved in my business so many years, maybe I don't need this particular, I don't need as much social media, maybe I don't need, you know, that monthly subscription to this particular? You know, pay to play. Am I really using this pay to play?  22:07 And again, you know, figure out what am I? Where's my money coming in? Where am I making the most of my money? And do I want to reinvest my money coming in into that, into getting more of that, or do I want to reinvest my money coming in into that, into getting more of that, or do I want to diversify and maybe explore another genre of voiceover, or I want to get more voiceover work in this particular genre? What's it going to take for me to get there? So I think, really again taking a look at the money, and if you hate looking at money, I suggest, even if you hate looking at money, it's something that you got to do. Consider it an education in running your own business.  22:40 - Danielle (Guest) I would consider, if you hate looking at money, that you really need to look at money.  22:46 - Anne (Host) If you don't like it, then you really need to do it If you don't like it, that's a flag.  22:50 - Danielle (Guest) That's a flag, that's a flag. Run toward it, run toward it.  22:55 - Anne (Host) I love it.  22:55 - Danielle (Guest) I was told by my financial advisor to have money dates with myself, and I think what you're talking about would be a really great thing to do twice a year of these sinking funds, these mini emergency fund or emergency fund, so that you know where you need to divert more of your money in the good months, in the months where you're making so much more money than you planned for. That's really a great thing to do and I would say once or twice a year to reevaluate that, because maybe your one to three month or your short term emergency fund, let's say, is about a couple thousand dollars under. So you know. Ok, you know what. Why don't I put my money and my focus on beefing that up so that when we have these inconsistent months or when we have lower months, I know that I'm good. You won't know until you take the time to really look at it. So give yourself the money date of taking a real look at your money and knowing your numbers about what is your core expenses, what can you maybe trim or what can you press pause on, and then what can you run toward when it's time and when you have the money for it.  24:18 I love the idea of sinking funds. You have a fund specifically for your education, for your just slower months, for things that you do when you book that really big job and maybe you want to take yourself on a nice you know nice dinner or something like that like ways to celebrate. You can have multiple of these sinking funds. That's what something like that, like ways to celebrate. You can have multiple of these, these sinking funds. That's what I like about some of these online accounts where you can have a bank account that will give you an unlimited number of smaller, you know, virtual accounts where you can just put that money to the side I love that that's great.  24:52 - Anne (Host) It's a really great hack that I use.  24:54 That's a new concept and and what I like.  24:57 What I like about how you're talking and you're phrasing this whole conversation is you're talking about funds, right, you're talking about fund accounts, yeah, versus when, when and I don't know if this is just me and my age, but, like whenever I was talked about, well, you need to set up a budget that had a negative connotation and that meant that I wasn't making the money that I should have been making, or I was. You know what I mean? I was somehow lacking in whatever, mostly in money, right, I was lacking in money and the ability to either manage my money or whatever it was, but it had a negative connotation and I think that we need to reframe that whole concept. Again, if we talk about, like, money blocks, right, it could be a form of a money block and, in reality, the term budget, you can rephrase it to say you know, your money funds or your fund account it's giving you more of like a permission to celebrate it because you are strategizing, you are creating a future with a purpose, yes, and your purpose is focused, strategized and smart.  26:03 - Danielle (Guest) Absolutely, and it's purposeful. It's what you've decided that you're going to do. So budgeting for me, when I think about it, it's what am I deciding that I'm going to be spending my money on and this money is allocated towards that thing that I already decided. If you take away the concept that a budget is restricting you, it's not restricting you. It's where you have already pre-purposed and pre-determined where your money is going to go, and then you just do as you set out. It gives you freedom and it puts you in the driver's seat. You decided that you want to spend your money on the Starbucks or your whatever, and isn't that what we?  26:44 - Anne (Host) yeah, Exactly, Isn't that what we decided? Bosses right, we are in the driver's seat. We are the boss Totally, and you know you need to be the boss of all aspects of this business. And I think, if you really take a look at your budgets and or your funding accounts and I love what you just said about the virtual accounts there, Danielle that's a concept that I actually was not aware of, so now I'm going to be researching that because I love that, I love being able to it's like my content buckets for social media, right? This?  27:15 is going to be my fund buckets for Ann's Lipstick, no, for my business. Right For that Starbucks account. I've got money in it. So I think that really gives us a much clearer strategy and purpose when really looking at our business. And again, you always want to go forward and move forward in your business and this is one way that you guys can get there Totally.  27:38 - Danielle (Guest) You are in the driver's seat. These are not things happening to you. You can make the decision as to where you spend your money when it comes, and if you need to dip into the bank of you so that you future you is taken care of, because the you of today did the work to make sure that they were taking care of future. You Love that. That's. What I love about being an entrepreneur is that I'm taking responsibility for myself and taking care of responsibility of myself today and also future me, by putting money into the spending buckets or to the sinking funds, to my retirement account, to my emergency fund, and then I am making these financial decisions with me in mind, because that's my job is to take care of myself and also the people that are around me that I touch with my business, with my life, with my purpose.  28:32 - Anne (Host) And with that lovely words of wisdom, danielle, I'm going to thank you so much. What a great conversation. Yeah, this is a great conversation. Love it, love it, love it. Bosses, I'm going to give a great big shout out to our sponsor, ipdtl. You, too, can connect and network like the money boss that Danielle is. I absolutely love it. I love, love, loved our conversation. Thank you again, bosses. Have an amazing week and we will see you next week. Bye.  28:58 - Speaker 2 (Announcement) Bye. Join us next week for another edition of VO Boss with your host, Anne Ganguzza, and take your business to the next level. Sign up for our mailing list at vobosscom and receive exclusive content, industry revolutionizing tips and strategies and new ways to rock your business like a boss. Redistribution with permission. Coast to coast connectivity via IPDTL.   

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"I'm 58, own a small service company, and would like to retire around 65. I don't have a formal succession plan or buyer lined up. What steps should I take now to transition out without leaving value on the table?" We're answering YOUR questions on this week's Get Ready For The Future Show! And we're joined by special guest Kaleigh Marsh, Employee Benefits Consultant with Gallagher, for help answering your benefits questions! I'm 51 and run a consulting business with just me and one part-time assistant. I already max out my Roth IRA, and my SEP IRA contributions vary based on income. I'd like to save more consistently—should I switch to a Solo 401(k), or consider taxable investments for more flexibility? I'm 47 and recently converted my business from sole proprietorship to an S-Corp. I'm taking a salary plus distributions, but I'm not sure I'm using the best tax strategy. What should I be thinking about from a financial planning standpoint? My wife and I are both 55 and run a family business together. Most of our net worth is tied up in the business, and we've fallen behind on personal retirement savings. How do we balance reinvesting in the business with securing our own future? And if you've got a question you want answered on the show, call or text 501.381.5228! Or email your question to show@getreadyforthefuture.com! Originally aired 9/3/2025

Why risk your business and hard-earned money with the wrong setup when you could be protecting yourself and saving on taxes? In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down the critical steps every small business owner and new LLC owner must take to avoid costly mistakes. From choosing the right entity structure to understanding tax advantages, they reveal the insider strategies that keep more money in your pocket and safeguard your future.Discover how to set up your LLC the right way, when an S Corp might make sense, and how to keep your business compliant without overspending on fees. Learn practical legal and tax moves that help you reduce liability, maximize deductions, and protect your assets — so you can focus on growing your business with confidence.If you're serious about building a strong foundation for your company, this is an episode you can't afford to miss! Subscribe for more real-world strategies from Mark J. Kohler and Mat Sorensen, and get expert support for your business today through KKOS Lawyers and Main Street Business Services.You'll learn:Why setting up your LLC in the wrong state (like Nevada, Delaware, or Wyoming) can cost you extra fees and headaches — and where you really should fileHow to avoid exposing your home address by properly using a registered agent and company addressThe critical documents every LLC needs beyond the one-page state filing, including an operating agreement, membership certificates, and minutesWhy your LLC must have its own bank account, tax ID, and records to be treated as a separate legal entityHow the right tax election (like electing S Corp status) can save business owners thousands in self-employment taxes each yearThe importance of annual compliance — renewals, meetings, and minutes — and why outsourcing this can save time, stress, and penaltiesReal-world “cleanup” strategies for fixing LLCs that were set up wrong or neglected, so you can get back on trackGet a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!! Here's the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description&utm_campaign=10-LLC-mistakes Grab my FREE Ultimate Tax Strategy Guide HERE! You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: Main Street 360 Looking to connect with a rock star law firm? KKOS is only a click away! Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute discovery call to explore the Main Street Tax Pro Certification. Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

Think you can skip the salary and just take distributions from your S-Corp? Think again. In this episode, I break down the IRS rules around “reasonable compensation,” how to calculate the right amount, and the penalties for getting it wrong. We also talk about how to fix it if you've been doing it wrong for years—and yes, there's a workaround. If you're running an S-Corp or thinking about becoming one, this is one episode you can't afford to miss.   Next Steps:

If you've got an LLC and you're wondering how to actually pay yourself, this episode is your playbook. I break down how to take money out of your business legally, what the IRS really looks for, and the exact steps to avoid paying way too much in taxes. You'll learn what an owner's draw is, how self-employment taxes work, and when you must start thinking about becoming an S-Corp. This is about real money—tens of thousands in tax savings—and you don't need an accounting degree to get it right.   Next Steps:

Send us a textMisclassifying workers is one of the biggest mistakes a business owner can make. It might seem cheaper to pay someone as a 1099 contractor, but if the IRS says they should be a W-2 employee, you're looking at back taxes, penalties, and possible audits that could cripple your business.In this episode, Mike breaks down the IRS framework for worker classification, the red flags that trigger audits, and the tax differences between employees and contractors. You'll learn how to protect your business, avoid costly penalties, and even find tax strategies that benefit both employers and contractors.

In the much-delayed final episode of our series on mindset for writers, we take a look at when writers should change course, and talk about the importance of mental flexibility. This coupon code will get you 25% off the ebooks in the Frostborn series at my Payhip store: AUGUSTFROST The coupon code is valid through September 8, 2025. So if you need a new ebook this summer, we've got you covered! TRANSCRIPT 00:00:00 Introduction and Writing Updates Hello, everyone. Welcome to Episode 265 of The Pulp Writer Show. My name is Jonathan Moeller. Today is August 22nd, 2025, and today we are considering when a writer should change course. This is a new episode. It's the third and final one in the mindset series that I had hoped to finish in June, but it was a very busy summer, and so I ran quite a few reruns of old episodes over the summer, but today I have time to record a full length episode, so we're going to do that and wrap up this series on mindset that we've been doing this summer. We will also do Coupon of the Week and an update on my current writing and audiobook projects. First up is Coupon of the Week and this week's coupon will get you 25% off ebooks in the Frostborn series at my Payhip store, and that code is AUGUSTFROST. As always, the coupon code and the store links will be available in the show notes for this episode, and this coupon code will be valid through September 8th, 2025. So if you need a new ebook to read as we wrap up summer and head into fall, we have got you covered. Now let's do an update on my current writing projects. I'm pleased to report to that Ghost in the Siege, the sixth and final book of the Ghost Armor series, is out. You can get it at Amazon, Barnes and Noble, Kobo, Apple Books, Google Play, Smashwords, and my Payhip store. And with that, my Super Summer of Finishing Things is finally complete because I have finished the Shield War series, the Stealth and Spells trilogy, and now the Ghost Armor series. So now that those three series are done, what is next? Right now my main project is Blade of Flames, the first book in a new epic fantasy series that will be set in the Kingdom of Owyllain from my Sevenfold Sword series and I am 29,000 words into that. My secondary project right now is Cloak of Worlds, the 13th book in the Cloak Mage series, and I am 1,000 words into that. So hopefully we will have Blade of Flames come out towards the end of September and Cloak of Worlds come out towards the end of October, if all goes well. So my plan now that I have only three unfinished series is that the Blades of Ruin series (of which Blade Flames is the first one) will be my flagship series, and I'll do one of those every other month and then the month in between I will alternate between writing a Cloak Mage book and a Half-Elven Thief book. I will continue that schedule until one of those series is completed and then I will start a new one because what I learned through 2024 and the first two thirds here of 2025 is that having five unfinished series at the same time is too many. It's hard to keep up in my head and it makes for a really long wait for the readers between the individual entries in the series. So I'm going to stick to just three from now on and as I said, I'll have a flagship series and then two that I will alternate back and forth between in the months between the releases for the flagship series. So that is probably what I'll be doing for the rest of 2025 and hopefully most of 2026, if all goes well. In audiobook news, recording is underway for Shield of Power, which will be excellently narrated by Brad Wills. I've been listening to some chapters from that. Work has just started by Hollis McCarthy on recording Ghost in the Siege, so that will hopefully be an audiobook before too much longer. So that's where I'm at with my current writing and publishing and audiobook projects. 00:03:29 Main Topic: Mindset Series: Changing Course And now to our main topic, the final episode in our mindset series and we talk about changing course. In previous episodes on this topic, I've talked about some of the practical ways to help with distractions, procrastinating, and managing time wasters. In this episode, I'm going to focus on things that derail writers from a mindset perspective. Today we're going to wrap up this series by talking about mental flexibility, knowing when to change course, and how to make those types of decisions without spiraling out. First, we'll discuss a few reasons why mental flexibility is an important attribute to possess and then provide you with five examples of times it has been important for me in my writing career. First, why is having mental flexibility and the ability to change course important? With how fast things change in publishing, you have to be willing to change strategies or discard a strategy that's not working for you. An example is that many people who are familiar with Amazon ads swear by using Amazon keyword ads. After much experimentation, I concluded they weren't very helpful for fiction. The reason for that is I found that for most books that are sold off Amazon, people will sit down and type, for example, “Brandon Sanderson latest book” or “J.D. Robb latest book” or “Stephen King latest book” and so on. If you bid high enough, you can get top of search for those where if you pay $2 a click or $2 for the bid and someone types in “Stephen King latest book”, you can get your book to appear at the top of the page with the ad. However, in practice, what actually happens is the person who sat down to look for “Stephen King latest book” isn't looking for your book, he's looking for Stephen King's latest book. So he or she will simply scroll past the ad result with your book and then click on Stephen King's book. The only way I found that keyword advertising works for fiction is if you write towards very specific tropes and are willing to pay a lot of money for those clicks. For example, you write a romance that's a “slow burn, no spice, enemies to lovers romance”, and there are people who search for exactly those tropes, and if you use keyword ads to bid for that, you could get it, but it's very expensive and it's very difficult to turn a profit. Because of my experiments with this, I saw that although many people say keyword ads are essential, I didn't cling to that piece of advice and switched my Amazon ad focus to having a few more category ads and Audible ads for each title, and that has been pretty nearly profitable most of the time, certainly more profitable than just relying on keyword ads would be. I should note the one exception for that would be that keywords ads do work very well for nonfiction where, for example, my Linux Command Line book, I can pretty easily run ads to it for search terms like “Linux Command Line” or “Linux Command Prompt.” And because people are looking for a nonfiction book on that topic without looking for a specific author, that can work. In keyword ads, I found that for fiction, people are looking for a specific author and want that specific author, whereas for nonfiction, they're looking for the topic and don't care so much about the author, so long as the book has good reviews and looks like the author knows what he or she is talking about. Another reason to be mentally flexible is that something new might actually make things easier for you. I used to work in IT support, and so I fairly often encountered someone who stubbornly clings to the way they learn something. I knew numerous people who memorized a specific way to do a task on their computer and then just stuck to that and avoided doing anything easier, such as, for example, not learning to use keyboard shortcuts. And as you know, if you do a lot of office work, learning keyboard shortcuts like Control + C for copy, Control + V for paste, or Control + Z to undo can save you a whole lot of time over compared to very laboriously clicking through the menus with your mouse. People like that very frequently resist a learning curve in favor of a slower approach because it's working for them, but then they lose out on a faster and easier way to do something. Change is not always good, but sometimes change can be good. And the thing about indie publishing is that change is constant. In a field where change is constant like indie publishing, you can't cling to something that first worked when you started out. Trying new software, learning new skills, and keeping up with changes in ebook platforms is something self-published writers must do. Another reason to retain mental flexibility is you might be missing out on a source of revenue. If you're not willing to change sales strategies when the market changes, you might be missing out on potential readers. For example, as people are tightening their budgets in these times of economic uncertainty, they might be less likely to buy individual books and focus their book spending on a subscription like Kindle Unlimited or Kobo Plus. If you don't have content on those platforms for readers, you're missing out on readers who have shifted their spending. For myself, I only have some of my books on Kindle Unlimited because of the exclusivity requirement, but everything I have on Kobo should be available through Kobo Plus, and typically on any given month on Kobo, at least 60% of my revenue tends to come from Kobo Plus instead of Kobo direct book sales. So that was a place where it was necessary to have the mental flexibility to make a pivot. Another good reason to be mentally flexible is that you might be missing out on something important that the data is showing you. One of the big advantages of being self-published is having access to complex and real-time data instead of having to wait for biannual royalty statements that don't provide information. There are some criticisms that can be leveled at Amazon for how much data they show authors. However, this is light years ahead of the kind of sales data that comes out of traditional publishing for writers where royalty statements were often quite arcane and difficult to understand by design, so the publishers could get away with paying the authors as little as possible. And because you have access to this data, you have basis for solid information, solid decision-making. For example, if one of my series is starting very strong in the UK in its first week of release, I can shift some of my ad spending to UK specific ads. Looking at sales and ad data gives you an opportunity to respond and change your approach. And sales data, even more than reviews, tells you if a book, series, or genre is working for you or if it's time to try something new. It's important not to fall prey to what's called the sunk cost fallacy, where you throw even more time and money on something that isn't profitable in hope of recouping the money that you've already spent. Sometimes it's wise to know when to cut your losses and run. It's probably a better use of your time to focus on the next book or series. Data can tell you which book or series that readers are most excited to see from you. Now that we've talked about the various good reasons that mental flexibility is important, I thought it'd be helpful to show you five times that I've had to use mental flexibility and change course over the course of my career as a writer. #1: Self-publishing. For all that I've been a proponent of self-publishing for the last 14 years, that wasn't always the case. I started out with the goal in the late ‘90s and early ‘00s of being traditionally published. Demonsouled actually was traditionally published along with some short stories. However, for a variety of reasons that I've talked about before, this turned out to be a dead end. Traditional publishing at that time was not interested in fantasy series like mine. I felt like traditional publishing was a dead end, and then I changed my efforts to blogging on computer-based topics. I'm still quite proud of the fact that in 2010, I made a good bit of money from Google Ad Sense off my tech blog, a feat which was difficult then and would probably be impossible now. Then I started to hear about self-publishing through Amazon, which at the time was a very new phenomenon. I started hearing about that in 2009/2010, thereabouts, and I initially wasn't very impressed and I wasn't very impressed with the idea of ebooks altogether. At the time, I had a huge collection of paper books and well, I don't have as many now. I still do have a fair bit of paper books, but at the time, I didn't think that ebooks could be a substitute for traditional paper books. Then at the end of 2010, in fact, the week after Thanksgiving, I bought my first Kindle, a third generation Kindle that was famously called the Kindle Keyboard because they had that little keyboard at the bottom, and I was very impressed with the device. I thought there has got to be a way to make money off this. As I started reading various writers groups, I came across Kindle Direct Publishing, and finally in April of 2011, I decided to give it a go and republished Demonsouled through it, and that's where it all began for me. #2: Learning new skills and adapting. I think one of the biggest parts of why I've been fortunate enough to be able to do this for as long as I have is the willingness to take the time and effort to learn or try something new. I've had to teach myself how to format ebooks in several different programs, how to start first the LLC and then a S Corp, which finally involved realizing I couldn't do it myself and hiring people familiar with the appropriate documentation to do it for me, how to hire narrators and proof audio, how to file 1099s for narrators (that was a whole experience, lemme tell you), how to create a direct sales platform on Payhip, how to create my own book covers in Photoshop, how to make various 3D images myself for those book covers, how to maintain and update my website, how to do Amazon ads, how to do BookBub ads, how to do Facebook ads. So in the past 14 years I've been doing this, I think it's fair to say I've acquired quite a few new skills along the way. Each time I weighed out if not having this skill was holding me back. For example, creating my own covers became an absolute necessity for me after a while because even the most experienced cover designers could not create covers at the pace I published. Well, they could, but it's more accurate to say that the cover designers, the really good cover designers, the ones I wanted to hire, worked so far out in advance that you had to book them nine months to maybe a year in advance. And I eventually came to find that very rigid and constraining to my writing process. A couple of my books have titles that are totally unrelated to what the book is about, just because I had to pick the title like nine months, twelve months out in advance. And while they were very good covers, I did find it a little bit constraining that I had to try and keep the book at least close to what the cover was. If I hadn't changed course and learned how to do it myself, it would've limited how many books I could publish in a year, and likely it would've cost me many thousands a year in lost revenue. Therefore, having the mental flexibility to learn new things is a major skill in self-publishing. And the thing I'm contemplating learning right now is something with video, because short form video seems to be a good way that many authors are connecting with their readers and their audience. It's just that I don't personally use short form video a lot, so I'm wondering if it'd be worth the effort to learn. I think it'd probably be worth the effort to learn, but I haven't decided on how to do that and need to do some more reading, which is another aspect of mental flexibility. #3: Changing pricing strategies. Permafree pricing book for free on ebook platforms was not as common of a strategy when I first started self-publishing in 2011. I mean, people were doing it, but not as many as now. At the time (and to this day, in fact), many people were outraged that thought of giving out an ebook for free and opine that it would devalue their work. The argument was that if you take a year to write a book and then people should at least be willing to pay as much as they would for, for example, a fancy Starbucks coffee. However, this overlooks the reality of economics where that something is only as valuable as people are willing to pay for it. And that in fact is, a good way to get people to pay for your remaining books is if they read the first one for free and then they like it enough that suddenly the remainder of the books in the series will have value for them and hopefully they will buy it. But back in 2011, I decided to give permafree a try because I had series instead of standalones, and it has been one of the most significant ways that people have found my work. If I listened to the sort of old school traditional thinking about pricing ebooks, I would've missed out on this opportunity. #4: Doubling down on audio. At one point, towards the end of, actually towards the middle of 2023, I was considering and had almost decided to give up on producing my own audiobooks due to the significant expense and how much time having to proof them was taking away from my writing. Instead, I thought about ways to make the workload easier. I hired someone to proof the audiobooks for me and then found ways to promote them through deals on platforms like BookBub and Chirp. I started to create more Amazon ads for them and focus on making audiobook anthologies because these are very attractive to people trying to get the most out of their Audible credit each month. Although it's still mainly a tax deduction for me at this point in terms of business value, I would've lost out on a growing revenue source and a big piece of the publishing market if I had given up on audiobooks. #5: And fifth and finally, as I've talked about before, the Stealth and Spells series. This series really challenged me because I had a very specific plan for a multi-book series (I was thinking like seven or eight books originally) and enjoyed writing the first one. However, there were a few problems with it that forced me to take a hard look at the series and change my original plans quite drastically. The series was originally called Sevenfold Sword Online, which confused fans of the original Sevenfold Sword series. I made the choice to change the title to Stealth and Spells Online to make the separation clearer, even though it's a pain to change titles, and that came with some confusion of its own. I also changed the covers to resemble some of the other LitRPG books because it was originally closer in look to some of my epic fantasy covers. These changes did help, but I had to take a cold hard look at the data. Sales and ad data clearly showed that it was time to cut my losses and focus on more profitable series. So I changed my series plans to wrap everything up in the third and final book rather than a multi-book series as I had originally planned and based on reader reception to the third book, I think it went pretty well. Ultimately, you can only plan so much as a writer, and you have to accept that those plans might need to change. One of the best gifts you can give yourself as a writer is the ability to be mentally flexible and not stick with plans, books, or attitudes that aren't working for you. Well, I hope you have enjoyed this mindset series and found it useful to your own situation. So that is it for this week. Thank you for listening to the Pul Writer Show. I hope you found the show useful. A reminder that you can listen to all the back episodes athttps://thepulpwritershow.com. If you enjoyed the podcast, please leave your review on your podcasting platform of choice. Stay safe and stay healthy and see you all next week.      

118:Dental Financial Planning: Turning Chaos into Financial Freedom - Part 8In this episode of The Dental Boardroom Podcast, host Wes Read, CPA CFP®, continues the financial planning series for dental practice owners by focusing on a critical phase three step: determining your payroll (W-2 income) as an S-Corp owner.Wes explains how payroll fits into your broader business financial plan, why it matters for tax efficiency, and how it interacts with retirement plan strategies like 401(k)s and defined benefit plans. You'll learn when to keep your W-2 lower to save on FICA taxes, and when to raise it to maximize retirement contributions and long-term wealth building.What You'll Learn in This Episode:The five-step sequence of financial planning for dental practice owners.Why S-Corp owners must pay themselves a W-2 salary and how the IRS views it.The relationship between W-2 income, K-1 distributions, and taxable income.How different retirement plan strategies (solo 401k, Roth 401k, profit share, defined benefit) affect payroll decisions.The three funding “buckets” in a 401(k): elective deferral, safe harbor, and profit sharing.Why Roth 401(k)s are powerful for building a tax-free retirement bucket.Guidelines for setting W-2 payroll:No retirement plan: Keep W-2 as low as possible ($75K–$100K minimum).Basic 401(k) without profit share: Stay around $100K–$125K.401(k) with profit share and defined benefit plan: Increase W-2 up to IRS maximums (~$350K in 2025).The benefits and costs of defined benefit plans—and why they can be worth it for high earners.How “tax diversification” (tax-free, tax-deferred, taxable buckets) increases long-term flexibility and savings.

I recently received an email that blew my mind. Today, I'm talking to the author of that email. Tune in to discover what the email said and to learn why the author decided to write to me. Get a FREE MONTH with the Inventory Genius Calculator - https://www.ciarastockeland.com/inventory-genius-calculator Work with Me - https://www.ciarastockeland.com/work-with-meVisit the Bookstore - https://www.ciarastockeland.com/bookstoreSign Up for Free Weekly Tips and Trainings - https://www.ciarastockeland.com/subscribe Connect with the Krystina:Website: https://adropintheoceanshop.com/ - Discount code (15% off): INVENTORYGENIUSSubscribe to weekly sustainability email series: https://adropintheoceanshop.com/pages/makewaves More About the Episode Sponsor:T&O Strategic Advisory (http://www.tostrategicadvisory.com/) - Offering a wide range of tax and accounting services, including entity election and S-Corp advisory.

I recently received an email that blew my mind. Today, I'm talking to the author of that email. Tune in to discover what the email said and to learn why the author decided to write to me. Get a FREE MONTH with the Inventory Genius Calculator - https://www.ciarastockeland.com/inventory-genius-calculator Work with Me - https://www.ciarastockeland.com/work-with-meVisit the Bookstore - https://www.ciarastockeland.com/bookstoreSign Up for Free Weekly Tips and Trainings - https://www.ciarastockeland.com/subscribe Connect with the Krystina:Website: https://adropintheoceanshop.com/ - Discount code (15% off): INVENTORYGENIUSSubscribe to weekly sustainability email series: https://adropintheoceanshop.com/pages/makewaves More About the Episode Sponsor:T&O Strategic Advisory (http://www.tostrategicadvisory.com/) - Offering a wide range of tax and accounting services, including entity election and S-Corp advisory.

Send us a textThis week on The Riley Black Project, we're hanging out with Jess & Alex from JT Financial Studio — the power duo helping makers, laser owners, and small business hustlers finally get their books, taxes, and finances in order.From filing your LLC without falling for scams, to knowing when to switch from an LLC to an S-Corp, to avoiding the most common (and costly) tax mistakes — they break it all down in plain English.We talk:The real startup headaches no one tells you aboutHow to protect yourself from “official looking” business scamsMissed deductions makers are leaving on the tableWhy bookkeeping isn't just for “big” businessesWhat it's really like starting a new business with your bestiePlus… a few laughs, a MySpace throwback, and some very questionable bikini marketing ideas.

What Most Families Miss About Whole Life Insurance Tax Strategies Most people miss the hidden power of whole life insurance tax strategies—and in doing so, they overpay in taxes and underfund their legacy. In today's podcast episode, Bruce Wehner dives deep into how the tax code is designed to reward strategic behavior—and how you can align your actions to reduce your tax burden and redirect that capital into wealth-building vehicles like whole life insurance. https://www.youtube.com/live/Z4BEoTli--k In this blog, I'm going to walk you through the real, practical ways to lower your taxes, use the savings wisely, and fund your policy in a way that supports your family's future. Whether you're a W-2 employee, small business owner, or investor, this episode breaks down how to build wealth with intention. What Most Families Miss About Whole Life Insurance Tax StrategiesWhole Life Insurance Tax Strategies Start with Tax Code IncentivesW-2 vs. Business Owner: Two Different Tax SystemsEmploying Your Kids: A Hidden GemS-Corp Strategy: Split Income, Save TaxesReal Estate Depreciation & Cost SegregationQualified Plan Repositioning: Turn Tax-Deferred Dollars into Tax-Free WealthRoth Conversions: A Strategic ShiftFunding Policies Through Parents and ChildrenThe Opportunity in Plain SightRepositioning Money Isn't Just Smart—It's Biblical StewardshipWant to Go Deeper into Whole Life Insurance Tax Strategies?Book A Strategy Call Whole Life Insurance Tax Strategies Start with Tax Code Incentives Congress doesn't just collect taxes—they guide behavior through tax incentives. The tax code is filled with legal ways to reduce what you owe, especially if you understand its design. The goal is not to avoid taxes but to steward your resources wisely. Tom Wheelwright, CPA for Robert Kiyosaki, frames it this way: the tax code is a roadmap filled with incentives. It's designed to encourage investments in real estate, energy, and business—moves that ultimately strengthen the economy. When you understand these incentives, you begin to ask a better question: “How can I reposition my taxable income into long-term wealth?” That's where properly structured whole life insurance comes in. W-2 vs. Business Owner: Two Different Tax Systems There are two tax codes in America: one for employees, and one for business owners. If you're a W-2 earner, your options are limited. But if you own a business — even a small one — the deductions available to you multiply. Start with something simple. You don't need an LLC to begin. A sole proprietorship qualifies you for deductions like: Home office expenses Business mileage Cell phone usage Meals and entertainment All of those deductions lower your taxable income and free up cash flow that can be redirected to fund a properly designed whole life policy. Employing Your Kids: A Hidden Gem One of the most overlooked strategies is hiring your children in your business. If they earn a legitimate wage (think: cleaning the office, organizing paperwork, or appearing in marketing photos), you can pay them up to $12,000/year tax-free. For you, it's a deductible business expense.For them, it's tax-free income under the standard deduction. That $12,000 could go directly into a whole life insurance policy for your child. You've just shifted taxable income into a tax-free legacy asset. S-Corp Strategy: Split Income, Save Taxes Another powerful tax strategy is the S-Corporation. If you operate your business as an S-Corp, you can split your income into a salary (subject to payroll taxes) and a distribution (not subject to self-employment tax). Example: Salary: $100,000 (pays payroll taxes) Distribution: $200,000 (saves 15.3% self-employment tax) That tax savings could be reallocated directly into premium payments for a life insurance policy. It's a way to use the structure of your income to fund wealth transfer.

In this episode, Mitch and David look back at the 6th Core Episode from 3 years ago. They discuss the difference between a sole-proprietor, LLC, S-Corp, and C-Corp and which one could be right for you. They go over how to pay yourself, and what to set aside for taxes, the importance of discussing situations with an attorney or accountant. Not ready for a full blown CRM, this is a great option. Build jobs, bids, and invoice straight from the app. TW Job Calculator APPS https://play.google.com/store/apps/details?id=com.tradewinsconsulting.jobcalculator https://apps.apple.com/us/app/trade-wins-job-calculator/id6744992264?platform=iphone Trade Wins by Trading Content https://www.facebook.com/groups/1309829410166761 If you have questions you'd like us to answer, please feel free to email them to AskMitch@MitchSmedley.com Thanks for listening and thanks for sharing! Enjoy the show! If you'd like more insight from Mitch and David, you need to check out Trade Wins. Trade Wins can help you start your business or take your newer business and get it to a very healthy level. For more information about Trade Wins, check out https://www.tradewinsconsulting.com/ FieldPulse is the Official Field Service Management Software of The Void Podcast. Their software is ideal for you and your business. For more information about how FieldPulse can benefit you, check them out here: https://www.fieldpulse.com/book-demo?utm_source=referral&utm_medium=partner&utm_campaign=TheVoid/TradeWins http://empowerpayments.com/TheVoid Contact us: askmitch@mitchsmedley.com

Brian Thompson chats with Amy Cosper, former Editor-in-Chief of Entrepreneur Magazine, award-winning journalist, and author of the new book, “The Ultimate Guide to Startup Success.” In this episode, Amy brings fierce honesty, contagious energy, and deep wisdom about what it really takes to build a mission-driven business in uncertain times. You'll also hear some of the biggest legal and financial mistakes founders make and be reminded why entrepreneurship can be a radical act of hope and defiance. Episode Highlights Mission-driven businesses don't have to be altruistic. Amy describes a mission-driven business as one fueled by a higher purpose, but she's careful to clarify that purpose doesn't have to be altruistic. “Having a mission-driven or purpose-driven company is what you stand for,” she said. “It doesn't have to be altruistic, but it is what you believe in.” The mission should be the company's soul that emanates out to the branding, business plan, and revenue streams. As a consultant to startup founders, Amy routinely sees that entrepreneurs struggle with finding clarity. “If you don't have clarity in what your company does, it's going to be really hard to find your purpose,” she said. Avoid common legal and accounting mistakes. Because entrepreneurs are visionary, they often overlook important, practical needs. Amy shared four, common mistakes she hopes future founders will avoid: Not maintaining accurate books from the start: While you may not want to think about the numbers, it's important to do accurate accounting as a business owner. Not getting an IRS Employer Identification Number (EIN): Your EIN is like a Social Security number for your business and should be tied to your entity. Giving your business short-sighted name: Naming your business after a fleeting trend or something specific to a geographic region becomes problematic when you want to grow. Not understanding how to structure partnership and operating agreements: If you don't plan for how a business will get split up or choose an appropriate business structure, you're setting yourself up for headaches when it's time to pivot. “My hope for the book is that entrepreneurs and founders don't make the same mistakes that I made,” Amy said. ”When you're creating something new, or you're disrupting a known way of thinking, you're not thinking about how to structure an operating agreement or whether it's better as an LLC or S Corp. My advice is to take a pause and do a little bit of research.” Just start. Amy knows people who have been about to launch their business for 20 years. While it's scary to take the first step, she encouraged want-to-be entrepreneurs to just start. “You get to make your own destiny,” she said. “You're in charge.” Resources + Links “The Ultimate Guide to Startup Success” Amy Cosper: LinkedIn Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Feeling trapped in agency work because of the benefits?   In today's Ask Allison, I'm breaking down what it really looks like to leave an agency job for private practice when health insurance, PTO, and retirement plans feel like the golden handcuffs.   We'll look at the actual numbers—using conservative national averages—so you can see how your take-home pay, time off, and quality of life can change when you're in control. I'll also cover how to replace your benefits, what an S Corp can save you in taxes, and why “free” perks at your agency might be costing you more than you think.   By the end, you'll have a clear picture of what's possible—and the steps you can take right now to get there.   Sponsored by TherapyNotes®: Use promo code Abundant for 2 months free    Grab our free tools to grow your practice—weekly worksheets, the Tasky Checklist, and more: www.abundancepracticebuilding.com/links   Ready to fill your practice faster? Join the Abundance Party today and get 75% off your first month with promo code ASK: www.abundancepracticebuilding.com/abundanceparty  Have a question for me about practice building? Submit it via our Ask Allison form, and I'll add it to the queue: https://www.abundancepracticebuilding.com/ask_allison ▶️ Prefer video? This episode is also available to stream on our YouTube channel!

Send us a textTransitioning from W-2 employment to receiving 1099 income fundamentally changes your tax situation and officially makes you a business owner, even if you're doing the same work as before.• Self-employment tax means paying both the employer and employee portions of Social Security and Medicare (15.3%) on top of income tax• Business expenses can be deducted against your 1099 income, reducing your taxable income significantly• Opening a separate business bank account is crucial for tracking income and expenses correctly• You can simply transfer money from your business account to your personal account as needed• Estimated quarterly tax payments are required to avoid penalties from the IRS• Consider setting aside 25-40% of income for taxes depending on your tax bracket• Health insurance and retirement planning now fall entirely on your shoulders• Once netting over $50,000 in profit, consider forming an LLC and electing S-Corporation status• S-Corps require more complex paperwork but can save significant money in self-employment taxes• Higher-earning contractors should work with a CPA rather than trying to handle everything themselvesCheck out our guides for new businesses and S-Corp owners in the show notes if you need step-by-step assistance navigating your new tax situation.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textTaking money out of your business isn't always tax-free. If you're not tracking your basis, you could get hit with a surprise capital gains tax, even without selling anything. Let's break down what basis means, how it works differently for Partnerships and S Corps, and why overlooking it could cost you thousands. 

Mark Kohler and Mat Sorensen are back for another Open Forum episode of the Main Street Business Podcast — answering real tax, legal, and wealth-building questions from listeners across the country.In this episode, they cover advanced strategies and insider tips for:The Mega Backdoor Roth: How it works and who can use itMaximizing vehicle deductions and depreciation the smart wayFixing a broken S-Corp partnership structureLLCs vs. business trusts in CaliforniaSolo 401(k) contribution strategies to hit the $70K capCombining multiple accounts in a Multi-Member IRA LLCRV write-offs: What full-time RV entrepreneurs can (and can't) deductWhether you're a business owner, investor, or just want to stop overpaying the IRS — this episode is packed with strategies and answers that could save you thousands. Grab my FREE Ultimate Tax Strategy Guide HERE! You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: Main Street 360 Looking to connect with a rock star law firm? KKOS is only a click away! Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute discovery call to explore the Main Street Tax Pro Certification. Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

In this part 2 of his conversation with Kiera, Morgan Hamon, co-founder and president of EAG Dental Advisors, talks about the action items doctors must commit to to stay financially savvy. 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 this is part two with me and Morgan Hamon as part of EAG Dentist Advisors, where we're actually gonna talk into the tax psychology and the tax strategies and the tax tips. And I really just feel like this episode is so powerful. And as always, thanks for listening, and I'll catch you next time on the Dental A Team Podcast.   Morgan Hamon (00:22) 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 (00:30) Mm-hmm.   Morgan Hamon (00:39) 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 (00:58) I love it.   you   Morgan Hamon (01:08) 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 (01:31) 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. And I think it does feel like a kick in the gut. like, this is worse than finding out like coal in your stocking Christmas morning. Like it's way worse. Like it feels awful. And you're in total denial that like, how is this even real? Like I live in America. Like, how is this real? I didn't know. And I mean, then you put on your state tax on there. And I'm like, for people who are in California,   Morgan Hamon (01:39) Mm-hmm.   Mm-hmm.   Mm-hmm.   Mm-hmm   Mm-hmm.   Kiera Dent (02:00) Like more than 50 % of your income could be going to tax pending upon your tax bracket. But I think Morgan is one of those things of also seeing, I know people don't want to hear, I'm going to be very unpopular right here and it's okay. It will like, you'll be in denial, you'll hate it. And then you'll be like, yeah, that's actually a really good point. Cause that's how I did it. Like taxes are a blessing though. Like we, we are so blessed to live in the country we are to be able to set the pricing that we want, to be able to do the work that we want to do that. like, I don't want to pay more taxes.   Morgan Hamon (02:12) you   Mm-hmm.   Kiera Dent (02:28) but I can see me paying taxes as like my opportunity to be here and to be a business owner. And I think that's an amazing thing that we do get to have access to. But like you said, shoot guys, this is where the discipline comes in. This is where the engagement comes in. This is where the ownership comes in. I remember where I should like, I'll send you a picture. My husband and made this like vision board together, cause every December I would cry over taxes. And one of my goals, literally has like, it's a sign that says tax expert ahead.   Morgan Hamon (02:33) Mm-hmm.   Mm-hmm.   Mm-hmm.   Kiera Dent (02:57) And I put that on my vision board because I'm I'm sick of this stupid stuff. I'm sick of Morgan telling me I owe this much money when I'm like, how is it even possible? I was like, I'm going to freaking figure this out. And I realized like, it's actually not that hard of a math equation. It's like, what is my profit that I get that month? What's my tax bracket? And let me go save that.   Morgan Hamon (03:00) Thank you.   Mm-hmm.   Kiera Dent (03:16) pay your quarterly tax payments. And then what I love is when, cause I put myself in the highest tax bracket, some years I'm going to be a little bit higher, some years I'm going be a little bit lower, like it's going to flush out. But if I'm saving my max amount that I would be having to pay in taxes every single month, I'm like, it's not that hard. Like you literally just take it, put it in a savings account, I put it in a high yield, so I'm even making money on it there. What's amazing is at the end of the year, I get my W2,   Morgan Hamon (03:32) Mm-hmm.   Kiera Dent (03:41) like refund, if you will, because we realize I have over-saved throughout the year. I also put in there like buckets, because I realized for me, Morgan, it wasn't just the tax that was hitting me. It was the SEP IRA that I had to pay. It was charitable contributions I was paying. It was end of year bonuses. And all of that, it's not taxes. I think you get hit with all of those at the end of the year. It's like you're trying to put these, then you've got your Roth IRA that you're trying to like put those in. And it's like all these things are money and it's all accumulating at one time.   Morgan Hamon (03:43) Mm-hmm.   Okay.   Kiera Dent (04:11) versus figuring out how much you really are gonna pay, breaking it down into buckets, saving for it, and then I love it. My money at the end of the year, whatever I don't pay in taxes, because yeah, it's a big number, whatever, you're just going to pay it. That's part of having an amazing, thriving business. But then my slush because I over-saved, that becomes my refund, that becomes Keira's money of like, sweet, what are we gonna do on this because I've already paid tax. Now I can take that.   Morgan Hamon (04:14) Mm-hmm.   Mm-hmm.   Mm-hmm.   Mm-hmm.   Kiera Dent (04:37) Now I can go buy the things I want to buy. can put it in retire. I can put it wherever I want it to go. ⁓ but I have it to our peace of mind. When I get my, like this year, my CPA can be like, wow, Kara, you like, you have this. And I was like, rock on. Like you're not stressed about it, but that takes discipline every month. I'm literally like, Hey, how much do we have put that profit over in our savings every quarter? You're making those quarterly payments. ⁓ it is being strategic. is like.   Morgan Hamon (04:52) Mm-hmm.   Mm-hmm.   Kiera Dent (05:06) You were on a call the other day with some of our doctors and like, so Kiera, how like there are you when you do your meetings at your house? And I'm like, I crossed my T's down my eyes. I don't like this game. Like I do Airbnb. I look at all my rental comps around me. I saved that every year. It's in a folder. All the things are in the calendar with me and the other people. I have an agenda. I send that over to my CPA. I just don't like to play in the game of gray. But I think those are the pieces that help you. And then you just maximize.   Morgan Hamon (05:16) Thank you.   Mm-hmm.   Kiera Dent (05:34) But Morgan, I don't know. think I've just learned that's also part of the success tax of being successful. Like this is what it is. And I think that being a business owner, the discipline of saving your money and not spending it all because we think like, should get this cause I'm a high earner. No, like there's still tax games that we play. There's different ways to minimize it. But realizing like I need to be disciplined here. I think if you can be disciplined there, it also stems to your team. It stems to your leadership. It stems to your physical health.   Morgan Hamon (05:39) It is.   Mm-hmm.   Mm-hmm.   Kiera Dent (06:04) It stems through   so many other areas in your life that I think like talk about a blessing of taxes that we actually get this benefit.   Morgan Hamon (06:07) Yes.   It,   I agree. And you do have to be, you do have to be disciplined. I know. I know. I also, I'll share a personal, I'll share a personal experience and kind of how I view tax because I very happily write those checks. You know, I write the same ones as our doctors do, but so back when I got out of the Navy, my family and I, so my parents, my brother and myself, we all chipped in and bought a real estate company.   Kiera Dent (06:13) Even though I hate it, Morgan, don't take me wrong. I still hate taxes. Morgan, tell me the secrets.   Morgan Hamon (06:36) back in 2005, real estate was happening. It was all in, all chips on the table. Well, guess what? 2009, everyone remember what happened in 2009? So, I mean, it was bad. It was horrific. 2009, my tax bill was zero. Zero. But do you think I was coming home saying, honey, look at this, zero, woohoo, check this out. I got no tax.   Kiera Dent (07:04) day.   Morgan Hamon (07:05) No, I'm sitting in a room and looking at the wall like how am going to face my kids telling them dad can't keep a roof over their head? How did my life get this screwed up? I paid no income tax, but those are not good times. That's not a period. And so right after that is when my dad and I started HD Accounting Group. But those days were like not my fondest memories even though I had zero tax liability. Fast forward a bunch of years, I've enjoyed a lot of success and I write some big checks to the government and I don't care.   My life is so much better. got kids college paid for, no debt. My life is good. And yeah, they are some big checks. I mean, let's face it, they're not my favorite things to write. Nobody likes it. But my life is just exponentially better. So when you're paying tax, you're making good money. I don't know, maybe boil it down to that.   Kiera Dent (07:55) I would agree with you.   which thank you for sharing because I think we, I agree. I don't want to have a year where I'm paying $0 to taxes. Cause that means that when you said zero and I'm like, we had a bad year. That's like a real bad year. Like as a business owner, you start to realize like that actually is not a good year. ⁓ But I think for that, ⁓ it's the discipline. And I found for me what's cut the stress out as an employer and as a business owner, not CPA, that's Morgan the world. That's not my world is when I have   Morgan Hamon (08:09) That's... ⁓   And now...   Kiera Dent (08:28) money and I'm disciplined and I save it because you still have profit afterwards. So it's not like you're not taking anything home every month. You're just being disciplined that that money for tax you save then I have the money and I'm like the pain I think comes from not having the money and the fear of where am I going to come up with the six figures when I've already spent it. I think that's more of why people hate taxes just like people hate root canals. They don't actually hate the root canal. They hate the pain leading up to it. We hate the pain of not having the money set aside.   Morgan Hamon (08:33) Mm-hmm.   Mm-hmm. Yeah.   Yes   Well.   Exactly. And let's tie this real specifically to the world you and I serve, our dentists. What really creates a lot of confusion and adds to the emotion is that, most of our clients have a practice note, a big one. And they don't always realize, look, when you make your loan payment, that is not a tax deduction, right?   Kiera Dent (09:22) not   just   Morgan Hamon (09:22) When you borrow the   money, we deduct everything you're going to buy, but then over time when you pay that back, you don't get it deducted again. So if your debt service on your practice loan is $100,000 a year, which we see often, you're paying income tax on it. So if you made $500,000 and $100,000 went back to the bank, you're living on $400,000 but paying tax on $500,000. And that is   That can be shocking and that's why you'll hear, and that applies to just both financial accounting and tax, that question of, my accountant said I made this much money. That can't possibly be the case. I just logged into the bank. What are they talking about? It's that debt service. That money's gone, but it's not a deduction. The other thing that makes it, any tax planning for dentist challenging is just the volatility in the month to month profit.   And I think there's a misperception out there, hey, look, my accountant is keeping my books up to date every month, right? And so if we get to the end of, let's say the end of September, and we can, hey, September 30, this is the exact profit, that does not equate to a granular, precise tax calculation because we have to, all your tax rate is dependent on total annual household income. If there's four months in the year that haven't happened yet, we gotta,   Kiera Dent (10:16) Amen.   Morgan Hamon (10:46) We got to estimate and it's subject to change. Maybe they were struggling in May and they said, you know, I'm calling Kiera, fine, I'm going to do it. We're going to get this thing figured out. And so then by November, they're killing it and everything's up 30%, 40%. Well, guess what's also going to be up? Your estimated payments are going to be higher, right? And so it's volatile.   and it's not an exact science. with any tax planning, those quarter estimated payments are trying to keep you in the hunt. And you alluded to that by having your buckets. Just realize there will be a settle up at the end of the year when it all fleshes out, because all we can do is estimate along the way. Try to keep it as close as we can. But I'm with you. I make those payments quarterly. I don't put my head in the sand because it'll just get bigger.   Kiera Dent (11:33) Well, I'm curious, Morgan, this is like Kara's nerdy side of me that I don't understand. So help me. And I hope this comes across respectful of the CPA world. To me, I feel like why don't CPAs at the end of every month, you know my profit, you know what I did that month. So yes, there's the estimated, but why not just give me like, the only thing I've thought of is maybe my tax bracket could change, but I'm like, why not estimate every month approximately what I need to save for taxes?   Morgan Hamon (11:43) Mm-hmm.   Mm-hmm. Mm-hmm.   Mm-hmm.   Mm-hmm.   Kiera Dent (12:03) So I can at least put that away monthly. Help me understand the psychology of that, because I don't.   Morgan Hamon (12:06) So, oh, trust me,   we've thought about this every which way. And I'm never done. I tweak our tax planning process every year. So to your point, like you could look at last year's tax return. So there's two figures to look at. There's your marginal tax rate, which is your whatever bracket, your highest, so the highest of 37.   But then there's what's called an effective, and that's just the average, right? If you look at total income and total tax, what's the average? So you could look at your last year's tax return and maybe your combined federal and state income tax was, call it 30%. So you could say, whatever my profit is times 0.3 is what I had to put away. So you could do that, but that's inherently going to be inaccurate.   because you will not have the same effective tax rate this year unless you have like a carbon copy and it'll be different. A lot of volatility. The other thing, it's a very equipment heavy industry as you know, and people do go buy equipment. And so if we, if say an accountant says, put whatever your profit is times 0.3, put that away, but then they get in and maybe they really do. Maybe their practice was... ⁓   Kiera Dent (13:20) Mm-hmm.   Morgan Hamon (13:31) you know, plum for eight ops, but they're equipped for five and it's time to fit those other three. Well, that's some really nice tax deductions there, like dollar for dollar. Well, that's really going to come down. And so that estimate's going to be out the window, like really quickly. You know, we've had times where I think of this story, something you don't tell stories. We had a client, this was a few years back, where they sent us an invoice. I can't remember what they bought.   Kiera Dent (13:38) and   Morgan Hamon (14:00) It was big, right? It was $120,000. They sent an invoice, not an email like I'm thinking about this. They sent an invoice. So we booked it. 120K deduction, did the tax plan, the works. Well, it comes time to do the tax return. And we're saying, hey, we keep asking for the loan paperwork on this claim. We don't get it. So finally, hey, look, we really want to get this tax return done. Can you send us that loan paperwork? And he's like, oh, I changed my mind.   I didn't buy that. And we're like, oh, let's put 120K of income back on top. You owe, I think it was like 40,000. And they're like, how can this be? I'm like, you sent us an invoice. Think how mad you'd be if we hadn't booked it. And I just tell that kind of story. Like equipment purchases in Q4, it's all out the window at that   Kiera Dent (14:37) Bye.   Yeah.   Yeah!   Mm-hmm. Mm-hmm.   Morgan Hamon (14:58) So   it's very volatile. So to kind of circle all way back to the beginning, just for some basic tax planning, I knew for me, like federal and effective, it's like 35%. And I just planned for that. And then there's a settle up. And if I owe a bit, it's because we killed it. And I need to actually celebrate that and not be cranky about it. And if I get some money back, maybe,   Kiera Dent (15:13) Mm-hmm.   you   Morgan Hamon (15:27) Maybe it just didn't end up as good as I thought or whatever. We're accountants. We don't have like, Xerox machines to write off. I got like a laptop. So, I mean, we're kind of limited on that. So, ⁓ those are some limitations inherent in tax planning for specific for the dental industry, the volatility and month-to-month profit and the high amount of equipment that's involved, which involves some instantaneous significant tax deductions.   Kiera Dent (15:32) Right.   and   Sure, no, that makes sense. And I think for me, it's always like, okay, there's profit, there's expenses. ⁓ If I'm gonna go use that money for expenses, then I'm going to take my tax amount. So obviously it's going to reduce my tax bill by that dollar amount. I can actually pull portions out of that money I've saved to pay for my equipment potentially if I need to. But just curious on that, because I've always, I'm like, it's a simple equation. Here's my profit. This is how much my tax bracket probably is. But also maybe you guys don't want them saving more than they need to because then people get angry.   Morgan Hamon (16:01) Mm-hmm.   Mm-hmm.   Mm-hmm.   The truth.   Yeah.   Well,   people, it can get emotional either way, right? If they get a big refund, they're like, wait a minute, I could have had this in my high yield savings account. So we really do try to keep it as close as we can given the constraints of this kind three-dimensional moving target. What I have told doctors in the past, if we think about, let's say they've got an S-Corp, so on a reasonable W2, we got some holding through that W2, but they should still be taking the majority of the money home via profit distribution, okay?   Kiera Dent (16:26) that   Exactly.   Morgan Hamon (16:53) Have a look at last year's tax return. If you don't know how to find it, let us know. Keep it simple. If it's 30 % or 20, it's 28 points, okay, round it to 30. What I think every business owner should do, okay, at the end of the month or quarter, however often you want to do it, you look at how much money has accumulated in the operating account, what is my chosen desired minimum cash reserve, and whatever has accumulated, distribute it.   Kiera Dent (17:06) Mm-hmm.   Mm-hmm.   Morgan Hamon (17:24) And take, let's say there's $20,000 extra in there, right? And let's just say your effective rate's a third of that. Well, take six or 7,000 and just put it in, like you said, Kiera, your savings bucket. And then save that so then when your accountant says, hey, it's time for your Q3 payment, you tap that money. And I think that's just a simple thing that...   Kiera Dent (17:42) Mm-hmm.   Morgan Hamon (17:53) habit you could get into, for me personally in our business, we always did that quarterly. And we'd take a distribution quarterly and I would just lop off the top, put it away and treat it like I had never had this and I would send it right off to the government. And that way I wasn't playing catch up so much. In the accounting world, I don't quite have the volatility that dentists have, but it's still, that habit pattern. It's that discipline of doing it.   Kiera Dent (18:20) Mm-hmm. Mm-hmm.   Yeah. No, that's super helpful. And Morgan, this is why I love to talk about it. Because it's like, hey, how can I refine? As we were talking about on that leadership, how can I refine? How can I make this just a little bit better? How can I learn a little bit more of the nuggets? How can I be smarter on my prep work for me emotionally? Because some people are just fine. They'll just like, I have a million buckets. I love my buckets. I love to know what this money is saved for.   Morgan Hamon (18:42) Hehehe.   Kiera Dent (18:45) My financial advisor teases me, my CPA teases me. I'm okay with it because I'm like, sweet, I know how much money I've got here. I know what I can buy here. My husband loves like just one big fund. And I'm like, but then how do know how much I can spend? Like I don't want to overspend or underspend. So everyone's different. So things are just going through it. Things are the psychology of it, the tax planning pieces, how the leadership and profitability connect to each other. Morgan, you guys are such an incredible CPA firm. I love that you're specifically only dentists. I tried to have you guys work with me you said, no, I'm not a dentist. So   Morgan Hamon (18:51) Mm-hmm.   You   huh.   Kiera Dent (19:14) I love that you are so niche. It was great, I loved it. But if people are curious, how do they work with you? What are kind of the broad services that people could see working with you guys that you guys do and how they can connect with you?   Morgan Hamon (19:24) So   our mission has always been and will continue to be supporting doctors by providing them the monthly accounting for their practice, providing practice profitability analysis reports and specific advising and tax planning ⁓ just for doctors. ⁓ If you want to check us out, is EAGDentalAdvisors.com is our website.   ⁓ Or just email me reach out to me Morgan.Hamon@EisnerAmper.com My business partner Cortney and I we do all initial consultations personally It's always been that way I love to meet new doctors learn about their situation tell them about what we do See if you see if it could be a good fit, but that's how folks would could go out and find us   Kiera Dent (20:09) Well guys, we have a lot of clients that work with Morgan. I think he's incredible. I love what you guys are doing. Morgan, it was always a fun time. 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 (20:19) 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 (20:31) course. And for all of you listening, thank you for listening and I'll catch you next time on The Dental A Team podcast.

Ready to stop scrambling come tax time and start planning like the business leader you are? Well, it starts with your mid-year financial game plan. In this episode, Danielle Hayden, CEO and founder of Kickstart Accounting, Inc., walks you through the steps you need to take to get your books in shape, plan for tax season (without stress), and build a business that's profitable and sustainable for the long haul. Let's make tax season feel like just another Tuesday. Key Takeaways:  Know the Kind of Business You're Building: Are you running a tax deduction-focused business or building long-term sustainability? Defining this upfront will shape your entire financial strategy and mindset. Bookkeeping Is the Foundation of Everything: You can't make smart tax or financial decisions without accurate, up-to-date books. Get caught up and stay caught up. Collect W-9s and Log Expenses Now, Not Later: Save yourself a year-end headache by organizing contractor paperwork and tracking home office, mileage, and reimbursable expenses today. Review Your Entity Type and Compensation: Are you set up as the right business entity? S-Corps, in particular, need to pay close attention to reasonable compensation and accountable plans. Don't Skip Estimated Tax Payments: Avoid penalties and cash flow surprises by paying what you owe and saving for taxes proactively—your future self will thank you. ⭐ Business Hack: Schedule a full “CEO Day” to knock all this off your plate! Topics Discussed: (00:31 – 01:15) Why Mid-Year Is the Best Time for Financial Planning (01:16 – 04:53) Choosing the Kind of Business You Want to Run (04:59 – 06:54) Bookkeeping Updates: What to Check and Why It Matters (06:55 – 11:15) Must-Do Mid-Year Admin: W-9s, Home Expenses, Mileage Tracking (11:24 – 16:00) Reviewing Entity Type, Reasonable Compensation, and Estimated Taxes   Resources: Free Downloadable Template | Home Office Log & Accountable Plan Episode Referenced | Entrepreneurs: Should You Go S-Corp? Pros & Cons + Expert Insight – Ep 115   Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

In this episode of the My DPC Story Podcast, Dr. Naomi Lawrence Reid, founder of DoctoringDifferently.com, joins the show to share her journey from traditional clinical practice to becoming an expert in physician side gigs. Dr. Lawrence-Reid discusses the challenges of working within the insurance-driven healthcare system, including Dr. Reid's eye-opening “diaper chair” experience in an academic pediatric ER (see the blog accompanying this podcast at mydpcstory.com for the picture). Dr. Reid reveals her top five high-yield side gigs for physicians looking for alternatives beyond full-time clinical roles: launching an aesthetics practice, medical writing, per diem and locum tenens work, expert witness services, and veteran disability exams. She also demystifies the business and money side of working independently, touching on health insurance, retirement, malpractice, and business structures like S Corps. Dr. Reid emphasizes that these side gigs can provide financial stability and act as bridges to building a Direct Primary Care (DPC) practice. Listeners are encouraged to explore her resources, summer series, and Academy for more guidance. Whether you're a current or aspiring DPC doctor, this episode is a powerful resource for diversifying your income and reclaiming physician autonomy.Register for the DPC + Locums Conference: RISE UP! A Virtual SummitCall in with your questions about how the "Big Beautiful Bill" affects HSAs and DPC. LEAVE A VOICEMAIL HERE.Get your copy of ELATION HEALTH'S HOW TO LAUNCH YOUR OWN DPC PRACTICE CHECKLIST. Hint Clinical: Run your dream practice with Hint's DPC softwareA-S Medication Solutions: medication management made simple for DPC. Learn more about JumpStart DPC Solutions: Marketing solutions modeled after DPCSupport the showBe A My DPC Story PATREON MEMBER! SPONSOR THE PODMy DPC Story VOICEMAIL! DPC SWAG!FACEBOOK * INSTAGRAM * LinkedIn * TWITTER * TIKTOK * YouTube

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.  

Send us a textMixing active and passive income in one entity could be costing you thousands. In this episode, we break down why separating your income streams is essential. You'll learn how to structure your business the right way using S Corps, LLCs, holding companies, and even C Corps to unlock advanced tax strategies. From hiring your kids to slashing self-employment tax, this is the blueprint smart business owners use to keep more of what they earn.

In today's Part 1 episode, Dr. Mark Costes welcomes Morgan Hamon, a former Navy F-18 pilot turned CPA, who now dedicates his expertise to helping dental practice owners achieve financial clarity and profitability. Morgan shares his unique journey from landing on aircraft carriers to launching a specialized accounting firm with his father—one that eventually joined EisnerAmper.  Morgan dives deep into the common financial blind spots of dentists, the vital importance of understanding profit margins, and how to identify whether revenue shortfalls or bloated expenses are holding a practice back. Plus, he explains why variable cost control and staff efficiency are critical, and how tax mitigation strategies like S-Corp elections and proper expense categorization can drive long-term success. EPISODE RESOURCES https://www.eisneramper.com https://www.truedentalsuccess.com Dental Success Network Subscribe to The Dentalpreneur Podcast

In this value-packed episode, Matty A. is joined by Jonathan Feniak—attorney, educator, and founder of LLCAttorney.com—to walk through the essential strategies behind smart entity structuring. Jonathan breaks down everything from LLCs, S Corps, and C Corps, to revocable living trusts and asset protection.Whether you're flipping houses, investing in rentals, or running a growing business, the right structure can save you money, protect your wealth, and help you scale without legal headaches.What You'll Learn:How to avoid common mistakes when setting up an entityWhy LLCs are usually better than corporations for small investorsWhen to use S Corp or C Corp tax electionsThe truth about piercing the corporate veilHow to structure for fix-and-flips, rentals, and syndicationsWhy Wyoming is Jonathan's #1 pick for LLC formationEstate planning basics using revocable living trustsResources from Jonathan Feniak:Website: LLCAttorney.comLinkedIn: LLC Attorney on LinkedInTimestamps: 00:00 – Introduction to Jonathan Feniak 01:30 – Why proper structuring is crucial 09:56 – Biggest entity mistakes 13:11 – LLC vs. Corporation: Breaking the myths 16:28 – Avoiding liability: Veil piercing & compliance 22:06 – Fix-and-flips, rentals, and holding companies 27:44 – Best states to form LLCs 35:25 – Real case studies of smart (and poor) structuringEpisode Sponsored By:Discover Financial Millionaire Mindcast Shop: Buy the Rich Life Planner and Get the Wealth-Building Bundle for FREE! Visit: https://shop.millionairemindcast.com/CRE MASTERMIND: Visit myfirst50k.com and submit your application to join!FREE CRE Crash Course: Text “FREE” to 844-447-1555FREE Financial X-Ray: Text  "XRAY" to 844-447-1555

On this “Random Fit,” join hosts, and NASM Master Instructors, Wendy Batts, and Ken Miller, as they dive into “10 Things I Wish I Knew Before Starting My Fitness Business.” Drawing from decades of experience in the fitness industry, Wendy and Ken share candid insights and hard-earned lessons to guide aspiring entrepreneurs and trainers through the realities of building a successful fitness business. Listen as they explore crucial decisions about business structures—whether to choose a sole proprietorship, LLC, or S Corp—and discuss the financial and legal implications of each. The duo stresses the importance of setting boundaries to combat burnout, raising your rates with confidence, ensuring strong client confidentiality practices, and handling client waivers and contracts. Wendy and Ken also break down the nuts and bolts of business operations, touching on essential topics such as tracking finances, maintaining proper documentation, utilizing professional support like CPAs and attorneys, effective marketing strategies beyond social media, and setting up standard operating procedures. Candid stories of personal struggles, moments of burnout, and the need for self-care shed light on the human side of entrepreneurship. This episode is packed with practical advice—whether you're thinking about opening a brick-and-mortar gym, launching an online coaching program, or simply refining your fitness business skills.  If you like what you just consumed, leave us a 5-star review, and share this episode with a friend to help grow our NASM health and wellness community! The content shared in this podcast is solely for educational and entertainment purposes. It is not intended to be a substitute for professional advice, diagnosis, or treatment. Always seek out the guidance of your healthcare provider or other qualified professional. Any opinions expressed by guests and hosts are their own and do not necessarily reflect the views of NASM. Introducing NASM One, the membership for trainers and coaches. For just $35/mo., get unlimited access to over 300 continuing education courses, 50% off additional certifications and specializations, EDGE Trainer Pro all-in-one coaching app to grow your business, unlimited exam attempts and select waived fees. Stay on top of your game and ahead of the curve as a fitness professional with NASM One. Click here to learn more. https://bit.ly/4ddsgrm

In this episode, you'll learn:How Peter transitioned from a legal career to wealth management through an unexpected opportunityThe importance of building strong client relationships and trust over timeWhy entrepreneurs should focus on long-term wealth building, not just incomeTwo of the most powerful ways to build wealth: starting a business and legally reducing taxesThe impact of proper business structure and tax strategy (e.g., S-Corp vs. W-2 income)Foundational elements for asset protection and legacy planning, including insurance and estate documentsWhy having a clearly defined “ideal life” matters more than chasing a financial numberHow the EOS (Entrepreneurial Operating System) framework can help scale and structure a businessThe importance of building a company that can operate independently of the founderWhy successful entrepreneurs emphasize delegation, focus, and doing only what moves the needleDaily health and reflection habits Peter uses to stay energized and alignedThe value of unplugged time, especially for thinking, walking, and long-term vision clarityInsights from working with ultra-wealthy clients and what truly sets them apartThe MIT (Most Important Thing) method to eliminate distraction and stay focusedHow personal passions like reading, music, and hiking contribute to long-term success Connect with Peter CulverPhone: (917) 697-4156Website: www.wealththrive.com This episode is NOT sponsored. Some product links are affiliate links, meaning we'll receive a small commission if you buy something.===========================⚡️PODCAST: Subscribe to our podcast here ➡ https://elevatemedia.buzzsprout.com/⚡️Need post-recording video production help? Let's chat ➡ https://calendly.com/elevate-media-group/application⚡️For Support inquires or Business inquiries, please email us at ➡︎ support@elevate-media-group.comOur mission here at Elevate Media is to help purpose-driven entrepreneurs elevate their brands and make an impact through the power of video podcasting.Disclaimer: Please see the link for our disclaimer policy for all our episodes or videos on the Elevate Media and Elevate Media Podcast YouTube channels. https://elevatemediastudios.com/disclaimer

Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Attorney Diane Clair. A Georgia-based legal expert specializing in: Real Estate Law Estate Planning & Probate Business & Contract Law She also teaches real estate law at Kennesaw State University and offers a Real Estate Investing Masterclass.

Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Attorney Diane Clair. A Georgia-based legal expert specializing in: Real Estate Law Estate Planning & Probate Business & Contract Law She also teaches real estate law at Kennesaw State University and offers a Real Estate Investing Masterclass.

Two-time Emmy and Three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Attorney Diane Clair. A Georgia-based legal expert specializing in: Real Estate Law Estate Planning & Probate Business & Contract Law She also teaches real estate law at Kennesaw State University and offers a Real Estate Investing Masterclass.

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Send us a textThe Sandman, BWT, Tyler, and Oliver discuss Haks friendship with Todd, Fonzie, and Scorp. Haks birthday, Hardcore Homecoming 2005, and all things you gotta understand.0:54 - Intro/Haks casino day wit the boys3:23 - Hak's birthday7:50 - NHL Stanley Cup recap 13:10 - NBA Finals talk16:56 - Hardcore Homecoming 2005 recap1:23:17 - Listener questions1:33:50 - Cane of the week/Toast of the weekEpisode recorded 6/19/25

  220.  The #1 Legal Mistake New Entrepreneurs Make — And How to Avoid It" - with Latrice Smith, Esq. Are you building your dream business on shaky legal ground?  It's a common — and costly — mistake. In this episode of Life After Corporate, host Deb Boulanger sits down with attorney and entrepreneur Latrice Smith, Esq., to unpack the legal essentials most new business owners overlook. Whether you're choosing between an LLC vs S Corp, drafting your first client agreements, or just trying to figure out how to start a consulting business without screwing it up, this conversation is your legal GPS. Latrice pulls back the curtain on the biggest missteps she sees founders make — from downloading generic business contracts off Google, to skipping crucial business formation documents that protect your assets. She also dives deep into small business legal advice that helps you avoid drama down the road, including partnership agreements, lease negotiations, and why a solid contract is worth more than a catchy brand name. If you've been skipping the fine print, this is your wake-up call.   Connect with Deb Boulanger To Watch the Show, click HERE For Full Notes, Go to LifeAfterCorporate.com/podcast Connect with Deb on LinkedIn, Instagram, and the private Facebook Group!  Read More about Life After Corporate HERE     Connect with Latrice Smith, Esq.  Thrive360 Program – Business blueprint for solopreneurs: https://thomaslaw.org Free Discovery Call with Latrice Smith: https://thomaslaw.org Instagram: @latricesmithesq. YouTube: @LatriceSmithEsq. Facebook: thomaslawandconsulting   Here are some other episodes you might enjoy as well: Podcast - Life After Corporate Podcast 219.  Are We Doing Facebook Groups Wrong? Key Lessons on Growing Your Business with Facebook with Tracy 218.  Attention Alchemy: How to Build a Business That Books Itself  217.  Webinar Sales Secrets Every Entrepreneur Should Know   Tweetable Quotes: "You have to talk to experts that can help you develop your vision—not people who didn't receive it."... Latrice Smith, Esq. "Your service agreement is not optional—it's your protection, your leverage, and your peace of mind." ... Latrice Smith, Esq.   SUBSCRIBE & LEAVE A FIVE-STAR REVIEW and share this podcast to other growing entrepreneurs!  Get weekly tips on how to create more money and meaning doing work you love, and be one of the many growing entrepreneurs in our community. CLICK HERE to join our private Facebook Group!  Connect with me on Instagram, LinkedIn, or check out our website at www.lifeaftercorporatepodcast.com

Anton dives deep into the concept of building multi-store networks for high-ticket dropshipping. He shares his own journey from a single e-commerce shop to a multi-million-dollar network, and walks you through why niche-specific stores convert better, how to structure your business entity, and strategies to drive free and paid traffic across multiple sites.Key TakeawaysWhat Is a Multi-Store Network?Independent, niche-specific Shopify stores (e.g., bouncehousesplus.com, trampolinesplus.com, swingsetsplus.com)Cross-promotion flywheel: customer journeys between related nichesWhy Not One “Superstore”?Niche focus boosts conversion rate (CR) – e.g., 2.5% from targeted trafficSuperstores dilute authority, lower Return on Ad Spend (ROAS)Selecting Store NichesBrainstorm products that share a customer base (e.g., backyard play equipment)Exclude unrelated niches to preserve brand relevanceBusiness Structure & TaxesUse a single LLC (e.g., AK Stores LLC) with S-Corp tax electionSimplified accounting and exit strategy (sell the entire network)Cross-Promotion Traffic StrategiesOrder Confirmation EmailsMonthly Promotions & RemarketingScaling Your RevenueEarly strategy took Anton from ~$340K/year to ~$3.2M/yearEach store remains highly profitable on its own, but network multiplies ROINext Steps & ResourcesDrop any questions in the commentsFor in-depth niche research, store builds, and traffic modules, grab the free 2-hour webinar at dropshipwebinar.com

Send us a textMissed the S Corp deadline? Don't panic. In this episode, Mike breaks down how to file a late S Corp election the right way so you can still unlock major tax savings. You'll learn what an S Corp really is, who qualifies, how to calculate your savings, and what to watch out for when making the switch. Plus, the exact steps to file a late election with the IRS, without triggering a red flag.

Are you throwing away $30,000 in taxes every year? You might be if your business has the wrong structure! In this eye-opening episode, I reveal how I saved a client exactly that amount by switching them from an LLC to an S Corporation. But wait - this strategy isn't right for everyone! I'll break down: The big differences between LLCs and S Corps How each affects your tax bill When the S Corp starts saving you money (hint: it's around $60,000 in profit) What "reasonable salary" means and why the IRS cares The 5 questions to know if you should switch Plus, I share real stories of business owners who saved thousands - and one who got caught by the IRS and paid dearly! Don't miss this episode that could be the most profitable 30 minutes you spend all year. Your future self (and bank account) will thank you!   Next Steps:

Wondering how to save thousands in taxes while building legacy wealth? This deep-dive breaks down real tax strategies from cost segregation and paying your kids, to choosing between an S Corp or C Corp. Learn how one investor wiped out $500K in taxable income and why planning quarterly can make all the difference.Whether you're flipping homes, managing rentals, or scaling a service biz, this is the money game you can't afford not to play. Get access to our real estate community, coaching, courses, and events at Wealthy University https://www.wealthyuniversity.com/Join our FREE community, weekly calls, and bible studies for Christian entrepreneurs and business people. https://www.wealthykingdom.com/ If you want to level up, text me at 725-527-7783!--- About Ryan Pineda: Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue. Ryan has amassed over 2 million followers on social media and has generat...

Felddog Summer: It is officially Felddog Summer! We got new Corey music on the horizon! Follow the Jim and Them socials like Instagram and Tiktok and comment #FelddogSummer to win some prizes. Corey On Ice: We start with Corey's Twitter that lays out what would be required for him to come on Jim and Them and we attempt to start watching Corey's old appearance on Dancing On Ice. Zeke: Zeke is upset over the show and decides to call in and call us bullies. COREY FELDMAN!, SHOW STOPPER!, LET'S JUST TALK!, DON CHEADLE!, BOOGIE NIGHTS!, JIM AND THEM IS POP CULTURE!, YOU KNOW THAT!, REAL ONES!, FELDDOG SUMMER!, NEW MUSIC!, HORIZON!, EXCITED!, STREET TEAM!, PACT!, WAIT!, UNALIVE YOURSELF!, 6/22!, 6/27!, CAST OF CHARACTERS!, NEPO BABY BODYGUARD!, COURTNEY FELDMAN!, ZEN!, ADRIEN!, HEATHER DAWN!, APPLAUSE-O-METER!, JAKE PERRY!, FREE ZEN SHIRT!, LET DOWN!, NEW MUSIC!, EXPECTATIONS!, HYPE!, DECEPTIVE DEBORAH!, FEELING FUNKY!, STREAM ISSUES!, VAMPING!, SHANE CULKING IN THE CHAT!, VAMPING!, GOBLINS!, COREY'S TWITTER!, 10K A MINUTE!, DOG POUND!, SNOOP DOGG!, GEN X ARE WE ADULTS YET!, CHANNEL!, GIVE COREY MONEY!, FRONT RAT TAIL!, 2012!, DANCING ON ICE!, UK!, CULTURAL IMPACT!, MAKE UP!, CAKED UP!, BUFFALO ASS!, MOONWALK!, FAIR!, ICE!, ZEKE!, BULLIES!, UNC!, OG!, ANGRY!, BUSINESS!, MILLION!, SMOKING A SQUARE!, GIMME YOUR LLC!, S-CORP!, C-CORP!, TRANSMISSION!, MS-13!, EL CHAPPO!, REAL MEN!, TRANSPHOBIC!, PROBLEMATIC!, KKK!, ARYAN BROTHERHOOD!, ALGORITHM!, CLOWNS!, ANDREW DICE CLAY!, ABUSE!, BRUCE LEE!, LIVE MUSIC!, JOHNNY LAWRENCE!, KARATE KID!, FUCK!, DUDE!, AMERICA!, FRIENDSHIP ARC!  You can find the videos from this episode at our Discord RIGHT HERE!