Measurement, processing and communication of financial information about economic entities
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Wednesday, March 26 - Host and American Family Farmer, Doug Stephan www.eastleighfarm.com shares the news affecting small farmers in America, including a focus on the Trump Administration and the freeze on previously approved farm projects and the financial toll it is taking on farmers, farm groups, farm states, farm industries, and why many in farming and agriculture are not happy. Next up, the bird flu continues to spread, exactly how long the avian influenza has really been around prior to the most recent outbreak, and how it's affecting the dairy industry in addition to the poultry and egg industry. Then, Doug introduces us to Bryan Ravencraft, a CPA with Holbrook and Manter in Ohio. Bryan discusses his work in accounting services for agriculture businesses and why being proactive is the best effort for his clients to plan for potential challenges and address their future plans for their farm and ag business. Bryan also helps his clients' agri-businesses grow by making the best decisions that benefit individual farms and ag businesses. Brian has worked with Holbrook and Mantr since 1995, primarily focusing on the areas of tax consulting and advisory services within several industries in farming and ag - agribusiness, construction, manufacturing, non-profit, professional services, real estate and closely held businesses and their owners. Lastly, Doug opines what farms with flocks, or backyard chickens, can do to be proactive in battling against the risk of infection from the avian flu. Website: AmericanFamilyFarmerShow.com Social Media: @GoodDayNetworks
Welcome to the Social-Engineer Podcast: The 4th Monday Series with Chris Hadnagy and Mike Holfeld. Chris and Mike will be covering cutting edge global news to help people remain safe, secure and knowledgeable in a world where it is hard to know what is real and what is fake news. Today Chris and Mike are joined by Nancy Hecht. Nancy started in the financial service business in 1983 as a registered Rep, moved to Certified Financial Group in 1988, and became a CFP in 1994. She is now a fee-based CFP where she provides comprehensive planning and investment management. [March 24, 2025] 00:00 - Intro 00:18 - Mike Holfeld Intro 00:46 - Today's Guest: Nancy Hecht 01:08 - Topic of the Day: Financial Advice 01:31 - The Ever-Changing Future of Taxes 02:51 - Roth IRA vs 401K 05:35 - The Difference Between Need and Want 07:54 - Prepping for Retirement 11:37 - Being Diversified 13:11 - Crypto 15:05 - Toe in the Sock Money 16:49 - The Big 5 17:41 - Pay Yourself First 18:37 - Basic Tips 19:11 - Don't Panic! 21:09 - Closing Advice 22:32 - Find Nancy Hecht Online - Website: hechteffect.net - Email: n.hecht@financialgroup.com - Phone: 407-869-9800 22:52 - Wrap Up 23:19 - Next Month: Baseball Technology 24:12 - Outro - www.social-engineer.com - www.innocentlivesfoundation.org Find us online: - Chris Hadnagy - Twitter: @humanhacker - LinkedIn: linkedin.com/in/christopherhadnagy
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
The Electric State, Kill Switches, Baidu's AI, Scopely, Careless People, Gemini Robotics An arbitrator instructs a former Meta employee to stop promoting and publishing her book alleging company misconduct; publisher Flatiron Books earlier objected DeepMind's latest AI model can help robots fold origami and close Ziploc bags Future Today Strategy Group, or FTSG. Intel has a new CEO Russo Brothers' Busy, Boring Netflix Sci-Fi Directors Anthony and Joe Russo say they're building a high-tech studio aiming to help artists use AI as a creative tool to make films, shows, and video games Baidu launches two new versions of its AI model Ernie Startup Claims Its Upcoming (RISC-V ISA) Zeus GPU is 10X Faster Than Nvidia's RTX 5090 Pokemon Go is getting a new owner after almost 9 years with Niantic Developer convicted for "kill switch" code activated upon his termination TikTok will play 'calming music' to remind teens to stop using the app F-35 kill switch concerns non-US countries Firmware update bricks HP printers, makes them unable to use HP cartridges Sonos Cancels Its Streaming Video Player - Slashdot Everything You Say To Your Echo Will Be Sent To Amazon Starting On March 28 Musk-led cuts drive US consumer protection agency to ask for Amazon trial delay Host: Leo Laporte Guests: Amy Webb, Glenn Fleishman, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Join Club TWiT for Ad-Free Podcasts! Support what you love and get ad-free shows, a members-only Discord, and behind-the-scenes access. Join today: https://twit.tv/clubtwit Sponsors: zscaler.com/security shopify.com/twit joindeleteme.com/twit promo code TWIT ZipRecruiter.com/Twit uscloud.com
We're kicking off 2025 with a must-hear episode! AMD chats with Katherine Studley, “The Only Consultant,” about her journey from CPA to TikTok sensation providing judgment-free tax help for sex workers. Katherine breaks down essential tax tips, the importance of write-offs, and what to do with all that money from your sugar daddy. Whether you're behind on taxes or unsure how to handle income from Venmo or CashApp, Katherine has you covered. Learn how to take control of your finances, avoid common pitfalls, and navigate taxes with confidence. Don't miss this insightful and empowering conversation! Follow Katherine @the_only_consultant Visit TheOnlyConsultant.com Follow AM @amdavies_ Support heauxprahs everywhere on yesastripper.com Produced by Makenzie Mizell
For many people, selling items online is an easy way to make some extra money and clear out unwanted clutter. But when do you need to start paying tax on these earnings? Hywel Davies has been speaking to HMRC for some advice. You can find out more information about selling online here - Information for online sellers - GOV.UK
IRS Tax Attorney Steven A. Leahy of the Law Office of Steven A. Leahy, PC with Opem Tax Advocates joins Jon Hansen on Let’s Get Legal to give tax advice for those who are self-employed and those who are business owners. Additionally, he answers texts and calls from WGN Radio listeners.
End of the Year Tax Advice Reminder. Ever met anyone that LIKES their bookkeeper? Our clients love us. Why? We save money AND provide great service. To learn more click the link - https://bigbirdaccounting.com
On today's episode of the podcast I'm talking about terrible advice I see on the internet and how to avoid it. Next Thursday, December 5th, I'm hosting two workshops - "Legally Launched" and "6-Figure Tax Blueprint," tailored to your needs as a business owner. You'll leave with the core takeaways you need to take action after the workshop. Learn more about which one is right for you and register for the workshop(s) at notavglaw.com/masterclassI'm only sharing 10 of the terrible pieces of advice I often see on the Internet, but I could have made this a multi-part episode. 1. Don't form an LLC until you hit $30,000 in revenue. - I hear lots of mythical revenue markers but there's no magic number because LLCs provide liability protection at any revenue. The more money you make, the more liability you're likely open to because you're more working with more clients which can lead to more problems. The longer you wait the more hassle it is to form an LLC. 2. Form an S Corp right away. - When you form an S Corp you are legally required to put yourself on payroll, pay yourself a reasonable recurring salary, and have profit leftover in your business which you can't do if you aren't making money when you start right away. We'll dive into this deeper on the 6-Figure Tax Blueprint workshop. 3. Just use LegalZoom. - I'm not a huge fan for many reasons including lack of added benefits. They ask you questions to fill out a form you can fill out for free yourself online. They charge you to get an EIN when you get your EIN for free on the IRS website. 4. Just do it yourself. - If you scroll through social media I frequently see people say "use LegalZoom" or "do it yourself" or "go work with a lawyer." I suggest somewhere in-between. The problem with doing it yourself is we've seen clients who did it incorrectly. Once you file, you need to maintain your LLC compliance requirements including back franchise taxes. I believe in a well-rounded approach of doing it yourself, with guidance which is why I started creating courses. 5. You don't need trademarks. - This is kind of like telling someone you don't need health insurance. You hope you'll never need to enforce it, but if you need to use it and don't have it, it's a problem. 6. Trademark everything. - It depends on who you are as a business owner and what you're launching. 7. Don't trust templates. - The person who writes the contract template understands your industry, your business, and these templates are typically based on contracts they've custom written for clients. 8. You don't need to do that. - This can refer to a lot of things, but I see it often with things like BOI (Beneficial Information Ownership reports), testimonial requirements, website compliance, etc. Too often people think these laws are for big corporations like Amazon or Target and not small businesses like us, but we see it happen to small businesses all the time. 9. Just write it off. - Not everything is a tax deduction! You need to be using it for business. And writing it off doesn't make it free. Focus on buying things that have a high ROI. 10. You can pay $0 in taxes. - Not every strategy is helpful, even if it's not fraudulent. You may end up owing more in the long run and all tips don't apply to all businesses. Register for our December 5th workshop(s) at notavglaw.com/masterclass
In today's episode of The SMSF Experts, we're looking into the essential strategies and insights needed to manage a successful Self-Managed Super Fund. From foundational principles to advanced techniques for tax efficiency and investment diversification, we cover key areas that can make a big impact on your SMSF journey. Joining us is Liam Short, Managing Director of Sonas Wealth. With over 30 years of experience in financial services, Liam is renowned for his practical, holistic approach to helping people take control of their wealth. (01:36) The Evolution of Financial Planning(04:03) Setting Up Your First SMSF: Key Advice(05:30) Understanding SMSF Returns and Risks(07:31) The Importance of an Exit Strategy(11:43) Current Trends in SMSF Investments(17:34) Common Mistakes and How to Avoid Them(21:34) The Importance of Trustee Compliance(21:57) Creating an Investment Portfolio for SMSF Clients(24:13) The Role of Education in Early Super Contributions(26:57) Regularly Reviewing and Updating Investment Strategies(33:33) Navigating the New Division 296 Tax(36:03) Family Dynamics in SMSF Management(39:34) Interest Rates and Investment Strategies Follow Shelley: LinkedinFor more episodes and to sign up for the ASF Audits newsletter, please visit asfaudits.com.au
Brian and Bo take on some of the craziest tax advice we've found on TikTok! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.
Ruchi Pinniger is the Founder and CEO of Watch Her Prosper®, helping small business owners and entrepreneurs master their finances and business growth. With a holistic approach, Ruchi provides financial guidance, bookkeeping, and tax-time readiness, as well as focusing on heightening her clients' prosperity mindset. Ruchi connects the business to the person, helping her clients break free from shame and guilt surrounding wealth and see huge results in their profitability and economic growth. She is an Executive Board member for Savvy Ladies, an organization that helps women improve their financial literacy and take control of their money.
In this episode of the Main Street Business Podcast, host Mark J. Kohler breaks down key tax-saving strategies every business owner should know, including why a side hustle is often crucial for effective tax planning. He also highlights the dangers of misleading crypto tax advice and urges listeners to stay vigilant. Mark's practical approach will leave listeners feeling empowered and informed to make smarter tax choices in a complex financial landscape.Here are some of the highlights:Mark emphasizes that setting up an LLC does not change tax deductions.Example of a lemonade stand to illustrate that expenses are deductible regardless of LLC status.Warning against chasing deals solely for tax benefits without considering the underlying quality of the investment.Explanation of cost segregation as a strategy to depreciate rental properties faster.The pitfalls of C corporations, such as double taxation and the temptation to take excessive salaries.Clarification on how the IRS can see all cryptocurrency transactions and that there is no special tax rate for crypto.The importance of finding a real tax advisor who understands myths and truths. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
What is the difference between tax planning vs tax advice? In this episode of
Expert tax guidance for expats and multinational businesses worldwide. Tune in to this episode for tax advice thats's hard to find anywhere else.
This varies with the topic Jason Lynch Episode: #38 Podcast Date: 8/23/2024
In this episode of the Main Street Business podcast, host Mark J. Kohler unpacks the top 5 strategies that can change the way you think about money. Learn about IRS rules for cryptocurrency, why side hustles are more than just extra cash, and the benefits of retirement accounts like Roth IRAs and the Mega Backdoor Roth strategy.Here are some of the highlights:Mark points out how the IRS received $80 billion to enforce more audits and tracking.Mark maps out the three ways cryptocurrency is taxed: selling for USD, trading for another crypto, using for purchases.The significance of side hustles and how essential they are for saving taxes and building wealth.Importance of choosing the right side hustle and developing a business plan.Determining capital needs and structuring the business (sole proprietorship or LLC).The top 10 write-offs for side hustles.Explanation of the 'backdoor Roth IRA' strategy for high-income earners.Introduction to self-directed IRAs and their potential for higher returns. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
Join Scott Lurie and guest Eugene Marshall from Magnolia Tax Services for a session on maximizing your tax benefits in real estate investing. In this session, we'll explore: The line between tax planning and preparationSecrets of beneficial ownership information reportingEssential tax write-offs that can dramatically impact your financial outcomesAnd much more!Whether you're looking to optimize your current investments or prepare for future opportunities, this webinar will provide you with the tax strategies that literally pay for themselves.This webinar is part of our ongoing series designed to empower real estate investors with insights and strategies that will change the way they do business
Follow Jasmine: youtube.com/@taxleverage instagram.com/taxleveragejd taxleverage.com
Financial Freedom for Physicians with Dr. Christopher H. Loo, MD-PhD
Join us for an enlightening episode with Matthew Sercely, a dedicated tax advisor and lawyer with over 15 years of experience, who has helped countless entrepreneurs legally reduce their taxes and achieve financial freedom. Matthew, a freedom-loving tax planner and ardent libertarian, shares his expertise on how businesses can maximize deductions, leverage real estate investments, and avoid common tax pitfalls. We delve into his approach to "Taxation Judo," uncovering advanced strategies that can save your business thousands of dollars. Discover why Matthew believes real estate is the ultimate tax-saving tool, and learn from his journey as a serial entrepreneur who has successfully navigated the complexities of taxation. Whether you're new to entrepreneurship or a seasoned business owner, this episode is packed with actionable insights to help you optimize your tax strategy and enhance your financial well-being. Don't miss this chance to gain invaluable knowledge from a true expert in the field. To connect with Matthew, visit his website: https://www.agoristtaxadvice.com/ Disclaimer: Not advice. Educational purposes only. Not an endorsement for or against. Results not vetted. Views of the guests do not represent those of the host or show. Do your due diligence. Click here to join PodMatch (the "AirBNB" of Podcasting): https://www.joinpodmatch.com/drchrisloomdphd We couldn't do it without the support of our listeners. To help support the show: CashApp- https://cash.app/$drchrisloomdphd Venmo- https://account.venmo.com/u/Chris-Loo-4 Buy Me a Coffee- https://www.buymeacoffee.com/chrisJx Click here to schedule a 1-on-1 private coaching call: https://www.drchrisloomdphd.com/book-online Click here to purchase my books on Amazon: https://amzn.to/2PaQn4p Follow our YouTube channel: https://www.youtube.com/chL1357 Follow us on Twitter: https://www.twitter.com/drchrisloomdphd Follow us on Instagram: https://www.instagram.com/thereal_drchrisloo Follow us on Threads: https://www.threads.net/@thereal_drchrisloo Follow us on TikTok: https://www.tiktok.com/@drchrisloomddphd Follow the podcast on Spotify: https://open.spotify.com/show/3NkM6US7cjsiAYTBjWGdx6?si=1da9d0a17be14d18 Subscribe to our Substack newsletter: https://substack.com/@drchrisloomdphd1 Subscribe to our Medium newsletter: https://medium.com/@drchrisloomdphd Subscribe to our email newsletter: https://financial-freedom-for-physicians.ck.page/b4622e816d Subscribe to our LinkedIn newsletter: https://www.linkedin.com/build-relation/newsletter-follow?entityUrn=6992935013231071233 Join our Patreon Community: https://www.patreon.com/user?u=87512799 Join our Spotify Community: https://podcasters.spotify.com/pod/show/christopher-loo/subscribe Thank you to our advertisers on Spotify. Financial Freedom for Physicians, Copyright 2024
Join hosts Mark J. Kohler and Mat Sorensen on the Main Street Business Podcast as they delve into the topics that matter most to you. From strategies to minimize estate taxes to the complexities of cryptocurrency and S-Corp ownership, there's no stone left unturned. Plus, get the inside scoop on the Main Street Tax Pro Certification and its many benefits. Here are some of the highlights:Mark and Mat begin with an in-depth discussion on reducing tax on large inheritance from overseas investments.Process of changing ownership of an S Corp and its tax implications.Explanation of the backdoor Roth IRA process and common mistakes.Importance of specifying access mechanisms for off-exchange crypto assets.Mark and Mat unpack the various benefits of the Main Street Tax Pro Certification for strategic tax planning.Impact of cost segregation studies on active income and real estate professional status.Ways to reduce capital gains tax on the sale of a home. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!
President and CEO of the Better Business Bureau of Chicago and Northern Illinois Steve Bernas joins Bob Sirott to talk about misleading and false information about filing taxes on social media and doing research before buying a prom dress. He also discusses an iPhone password scam and how a Naperville business clerk helped a senior citizen to avoid a […]
CBS News Business Analyst Jill Schlesinger has last minute tax advice.
Delve into the financial intricacies and planning for professional athletes and ultra-high net worth individuals with guest Michael Bapis, a managing director at Rockefeller Capital Management. They explore the importance of endorsements, LLCs, and adapting to the changing landscape influenced by NIL and social media. The discussion covers the crucial role of relationships and trust in managing wealth, the significance of diversification in investment portfolios, and the challenges athletes face when transitioning out of their sports careers. Additionally, they touch upon tax strategies, asset protection, and the necessity of early financial education. The episode provides valuable insights and strategies for managing and growing wealth, emphasizing the importance of having a solid financial plan and a team of trusted advisors. Episode Highlights: 05:25 Building Trust and Relationships in Wealth Management 11:30 The Challenges and Misconceptions of Managing Wealth for Athletes and Entertainers 19:41 Leveraging Personal Brands for Financial Success 20:40 Brand Strategy for Athletes and Entertainers 21:25 Emerging Trends in Sports and Entertainment 22:04 Navigating Financial Planning and Estate Taxes 24:51 Managing Sudden Windfalls: Financial Strategies for Athletes 25:55 The Importance of Structured Loans and Debt Management 27:03 Empowering Financial Literacy and Education 30:52 Risk Management and Asset Protection for High Profile Clients Michael Bapis, Managing Director with Vios Advisors at Rockefeller Capital Management, brings over 20 years of wealth management and private banking to his clients, working with many professional athletes and ultra-high net worth to create financial portfolios that align with long-term goals and optimize their wealth. Michael is a registered NFLPA Financial Advisor and is considered a thought leader in the financial services industry, having regularly appeared on CNBC's Trading Nation and Worldwide Exchange, TD Ameritrade, Bloomberg TV and Yahoo Finance as well as quoted in CNNmoney.com, CNBC.com, Reuters, Financial Planning and Investment News.Connect with Michael: Vios Advisors at Rockefeller Capital Management: https://www.rockco.com/vios-advisors/ Vios Advisors LinkedIn: https://www.linkedin.com/in/vios-advisors-at-rockefeller-capital-management-419027134/ Michael Bapis: LinkedIn: https://www.linkedin.com/in/michael-bapis-23a93127/ Vios Advisors Instagram: https://www.instagram.com/rockefellervios/ Don't just listen to the podcast, it's time to take action and dominate your game!
In this episode of The Dept. Omar talks with Matt Bontrager, about how small business owners and entrepreneurs can strategically set up their business to avoid paying a large tax bill. Matt is a tax advisor/strategist and owner of Truebooks CPA. Many of us feel we are entitled to the more of the money that we earn. Matt drops so many gems in this episode about the right moves to make to save your business more money. If taxes stress you out watch this Episode!
As the guy who keeps our money and taxes and the realities of the IRS in focus, Leonard Raskin joins Nestor with some real life spring tax advice – and some Orioles ownership thoughts on money and the future of the franchise under new ownership. The post Leonard Raskin joins Nestor with real tax advice and Orioles ownership thoughts on money first appeared on Baltimore Positive WNST.
On this week's Money Matters, Scott and Pat start the show by discussing the infamous Wall of Worry, before discussing market resilience in the face of chaotic world events. They then take a call from a Sacramento man who has a complex investment situation, including a need for Roth conversions, followed by a conversation with a retired couple that is travelling throughout the South and who needs tax advice about their multiple qualified plans. Join Money Matters: Get your most pressing financial questions answered by Allworth's CEOs Scott Hanson and Pat McClain live on-air! Call 833-99-WORTH. Or ask a question by clicking here. You can also be on the air by emailing Scott and Pat at questions@moneymatters.com.
Brent chats with Alicyn McLeod about all the bad tax advice circulating on social media. They talk about why it is appealing, though ultimately wrong, and what tax professionals can do to counter it.
In this episode, we are reviewing some advice from hip-hop artists Rick Ross and Waka Flocka have publicly about there support of using trusts to protect assets and to do tax planning.
Brandon Hall's Twitter post: https://twitter.com/bhallcpa/status/1757117679180148949 In the latest episode of the Passive Wealth Strategy Show, host Taylor dives into the critical topic of tax strategies and investing advice, particularly those trending on social media platforms like TikTok. The conversation revolves around a cautionary tale; an investor who lost an IRS tax case from taking misinformed advice online about luxury car deductibles. The episode calls attention to the importance of seeking professional advice when navigating the nuances of real estate tax laws to avoid potential pitfalls. Taylor emphasizes the risks of following trending tax advice without proper guidance by highlighting CPA Brandon Hall's thread about a businessman's tax court misadventure. The episode is enriched with crucial steps about correctly documenting business vehicle deductions, reinforcing the notion that real estate offers tax advantages only when leveraged correctly with the help of a professional.
Join us in this insightful episode as we dive into the intricacies of tax season with tax expert, Amanda Han, Real Estate CPA at Keystone CPA, Inc. With tax season already started and potential changes on the horizon, Amanda brings her wealth of experience and expertise to the table to guide real estate agents through the complexities of their taxes. As a seasoned tax strategist specializing in real estate, Amanda shares valuable advice on what to expect this tax season and how agents can proactively prepare for any impending changes in tax laws. With her insights and practical tips, she helps listeners understand the nuances of tax planning and how to stay ahead of the curve in optimizing their tax situation. This episode is chock-full of strategies and advice to help you navigate tax season with confidence. Tune in now to ensure you're equipped with the knowledge and tools to make the most of your tax situation in the ever-evolving landscape of real estate.
Software can make it easier for people to file their own taxes, but what if you have a question? Would you trust generative AI to give you the answer? We Meet: H&R Block VP of Technology Aditya Thadani Credits: This episode of SHIFT was produced by Jennifer Strong and Emma Cillekens, and it was mixed by Garret Lang, with original music from him and Jacob Gorski. Art by Anthony Green.
Tuesday Live With John Willis, Nicole Sauce and Agorist Tax Advice. Join me for a group discussion with John Willis of Special Operations Equipment and members of our community and beyond about building the life you choose, current events, building a durable life, community development, business, getting started, health and more. Each Tuesday, we welcome a different guest to tell their story, as well as take your questions live. Featured Event: The Self Reliance Festival, SelfRelianceFestival.com Sponsors: The Self Reliance Festival: SelfRelianceFestival.com https://selfreliancefestival.com/ Tickets: https://selfreliancefestival.com/tickets/ Homestead Apprentice: HomesteadApprentice.com Show Resources Special Operations Equipment Living Free in Tennessee NicoleSauce.com HollerRoast.com AgoristTaxAdvice.com Main content of the show Make it a great week! GUYS! Don't forget about the cookbook, Cook With What You Have by Nicole Sauce and Mama Sauce. Community FreeSteading Group: https://freesteading.com/groups/living-free-in-tennessee/ Mewe Group: https://mewe.com/join/lftn Telegram Group: https://t.me/LFTNGroup Odysee: https://odysee.com/$/invite/@livingfree:b Twitter: @nicolesauce IG: @nicolesauce Facebook: https://www.facebook.com/LivingFreeInTN Resources Membership Sign Up Holler Roast Coffee Harvest Right Affiliate Link
In this episode of the Know Your Numbers REI podcast, host Chris McCormack discusses the misconception that tax advice is a one-size-fits-all solution. With the rise of social media influencers and the influx of financial advice, it's crucial for real estate investors to be aware of the potential pitfalls of generic tax advice. Chris emphasizes the importance of personalized tax planning and highlights some costly decisions that can arise from following generic advice. Tune in to learn more about the intricacies of tax advice and how to navigate them effectively. [00:00:14] - Introduction to Know Your Numbers REI Podcast [00:00:25] - Goals of BetterBooks Accounting [00:00:47] - Importance of Tailored Tax Advice [00:01:29] - The Misconception of One-Size-Fits-All Tax Advice [00:01:40] - Influence of Social Media on Tax Advice [00:02:12] - Growing Demand for Tax Professionals [00:02:54] - Risks of Unqualified Tax Advice [00:03:15] - Decrease in Tax Professionals [00:03:57] - Personal Nature of Tax Advice [00:04:07] - Entity Structure Advice Warning [00:04:39] - Misleading Entity Structure Promotions [00:05:00] - Importance of Trustworthy Entity Structuring [00:05:31] - Credentials of a Tax Professional [00:06:02] - CPA and Enrolled Agent Qualifications [00:06:34] - Certified Tax Planner Designation [00:07:17] - Personalized Advice on Entity Structure [00:07:27] - Depreciation and Its Personal Relevance [00:08:09] - Accelerated Depreciation and Cost Segregation [00:08:41] - Qualifications for Accelerated Depreciation [00:09:12] - Cost Segregation Expertise and Referrals [00:10:04] - Real Estate Professional Status Misconceptions [00:10:46] - Requirements for Real Estate Professional Status [00:11:40] - Seeking Qualified Tax Advice [00:12:01] - BetterBooks' Approach to Tax Advice [00:12:53] - Encouragement to Consult a Tax Advisor [00:13:03] - Podcast Outro and Call to Action ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• ➤➤➤ To become a client, schedule a call with our team or fill out a contact request form ➤➤ https://www.betterbooksaccounting.co/contact ••••••••••••••••••••••••••••••••••••••••••••••••••••••••• Connect with Chris McCormack on Social Media Facebook: https://www.facebook.com/chris.mccormack.cpa.mba/ LinkedIn: https://www.linkedin.com/in/chris-mccormack-cpa-mba/ Instagram: https://www.instagram.com/chrismccormackcpa/ → → → SUBSCRIBE TO BETTER BOOKS' YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@betterbooksREI/featured The Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests. #TaxPlanning #EntityStructure #Depreciation #AcceleratedDepreciation #CostSegregation #RealEstateProfessionalStatus #ProactivePlanning #BuildingRelationships #TaxChanges #IRSCode #TaxPreparation #RealEstateInvestmentTips #RealEstateTaxProfessionals #AccountingForRealEstateInvestors #RealEstateTax #RealEstateTaxTips #RealEstateInvestor #KnowYourNumbers #BetterBooks #ChrisMcCormack
Today's guest is Michael Wiener. Michael Wiener, Partner at Greenberg Glusker in Los Angeles, focuses his practice on structuring real estate and corporate transactions in a tax-efficient manner and providing his clients with creative solutions to complex tax issues. Show summary: In this episode Michael Winer discusses various topics, including 1031 exchanges, California property tax, and partnership tax issues. Michael emphasizes the importance of consulting tax advisors early in the process and having a sophisticated team to handle all aspects of a transaction. He also shares his personal experience as an investor and the complexities of holding real estate through legal entities. The episode provides valuable insights into real estate transactions and tax implications. -------------------------------------------------------------- The 1031 Exchange Challenge (00:04:37) Understanding Taxable Boot (00:08:25) Complex Math in Tenancy in Common (00:09:42) The 11th Hour Panic (00:11:01) Consult Your Tax Advisors Early (00:14:34) Complexities of Partnerships and Separate Exchanges (00:18:59) Passive Investing and Syndication (00:22:00) Negotiating 1031 Exchange in Joint Venture Agreement (00:23:00) Challenges of Distributing Cash from 1031 Exchange (00:23:59) -------------------------------------------------------------- Connect with Michael: Linkedin: https://www.linkedin.com/in/michael-wiener-50a8a73/ Web: https://www.greenbergglusker.com/michael-wiener/insights/. Connect with Sam: I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. Facebook: https://www.facebook.com/HowtoscaleCRE/ LinkedIn: https://www.linkedin.com/in/samwilsonhowtoscalecre/ Email me → sam@brickeninvestmentgroup.com SUBSCRIBE and LEAVE A RATING. Listen to How To Scale Commercial Real Estate Investing with Sam Wilson Apple Podcasts: https://podcasts.apple.com/us/podcast/how-to-scale-commercial-real-estate/id1539979234 Spotify: https://open.spotify.com/show/4m0NWYzSvznEIjRBFtCgEL?si=e10d8e039b99475f -------------------------------------------------------------- Want to read the full show notes of the episode? Check it out below: Michael Wiener (00:00:00) - You sell $20 million of real estate that has $10 million of equity. You need to purchase at least $20 million of real estate with at least $10 million of equity, because you also see, some people will say, hey, well, I purchased the $20 million of real estate. I got a $12 million loan, and I just cashed out $2 million. And yeah, no, you did. That's great. But. It's taxable boot. Intro (00:00:27) - Welcome to the how to Scale commercial real estate show. Whether you are an active or passive investor, we'll teach you how to scale your real estate investing business into something big. Sam Wilson (00:00:40) - Michael Winer, a partner at Greenberg in Los Angeles, focuses his practice on structuring real estate transactions in a tax efficient manner and providing his clients with creative solutions to complex tax issues. Michael, welcome to the show. Michael Wiener (00:00:54) - Thank you very much for having me, Sam. I'm really excited to be here. Sam Wilson (00:00:58) - Absolutely. The pleasure is mine. Michael. There are three questions I ask every guest who comes on the show in 90s or less. Sam Wilson (00:01:04) - Can you tell me where did you start? Where are you now? And how did you get there? Well. Michael Wiener (00:01:10) - About ten years ago, I had my own firm. I was, uh, or just starting my own firm, um, doing some 1031 work, I. Wound up, uh, seeing an ad on the internet. I don't even remember what I was searching for. For an attorney to join a tax boutique in Century City here in LA. So I responded to the ad. Turned out it was a 1031 exchange specialty, um, firm. And, you know, basically based on my practice and some of the clients I was doing work for, we knew a number of people in common. Um, so I wound up joining that firm. It was a four person firm. A few years later, that firm was acquired by a slightly larger firm, and then that firm was in turn acquired by a larger firm. Um, and throughout it, I have to say, I'm really grateful my, uh, my traditional client base stuck with me throughout all the, uh, throughout all the firm uprisings. Michael Wiener (00:02:15) - Um, and then from the larger firm, which was one of the largest firms in the world, um, I transitioned my practice with, uh, one of my partners and colleagues who have been with me since the, uh, since the smaller firm over here to Greenberg Luster, which was a, um, which was a better fit. I'd worked alongside Greenberg Lustgarten deals, both co-counsel and adverse for many years a phenomenal firm and, uh, and been here for about four and a half years. And I love every day of it. Sam Wilson (00:02:45) - That's cool. And it's 1031. What you still focus on primarily? Michael Wiener (00:02:51) - Um. Uh, I generally wind up dealing with tax issues related to the real estate industry, and obviously 1031 is a big part of that. The last, you know, four ish years, really, since 2018, qualified opportunity zones have, um, have become a bigger part of that. We also being here in California, we have to deal with prop 13, California property tax, um, and transfer tax issues and then also deal with um partnership partner, excuse me, partnership tax issues related to structuring um, joint ventures and and real estate investments. Michael Wiener (00:03:35) - Um, and that then extends its way out to sort of syndicated tenancies of common and, you know, different ways of investing in real estate and being able to take advantage of all of the wonderful tax benefits of doing so. Sam Wilson (00:03:51) - That gets really complicated really fast. For those of us that want to just go out and buy stuff and own and run real estate projects. You're a great complement to our to our team because the rest of us don't want to think about, you know, probably the things that you think about day in and day out, you know, specializing in this. I can only imagine. No, no, two days are the same would be my guess. Michael Wiener (00:04:14) - Oh, no, two days are the same at all. Um. Sam Wilson (00:04:18) - It's crazy. Michael Wiener (00:04:19) - Every day is a unique challenge, and every day is another opportunity to learn. So what are some things? Sam Wilson (00:04:27) - Let's talk. Let's talk. 1031 because you've touched on several things, and I know any one of these topics, we could probably burn the entire podcast, you know, going down that rabbit trail. Sam Wilson (00:04:37) - But let's let's stay on 1031, because I would imagine that for the bulk of our listeners, that's probably something that is applicable. What what are some common challenges and what are some common misconceptions, maybe that you run into when executing a 1031? Michael Wiener (00:04:55) - Well, the first thing that a lot of people forget about or just don't remember is that in addition to spending all of the money that you get from the sale of your relinquished property, you also have to replace your debt. Sam Wilson (00:05:13) - And. Michael Wiener (00:05:14) - You know, you see people from time to time who say, oh yeah, no, we completed our exchange. We sold a property for, you know, $20 million with $10 million of debt, about a $10 million, uh, property. This is very, let me say, very simplifying the facts. Fact pattern. Um. We bought a property with, um, with the $10 million. And, you know, we got this great deal. We only have to put $2 million, $3 million of debt on it. Michael Wiener (00:05:42) - And we, you know, you know, huzzah! We, uh, we completed our exchange, and it's well known. Yeah. I mean, yes, you did complete an exchange, but you're going to have to. And it's very important to remember that that gets, um, especially tricky in a, uh, uh, tenancy and common context where you have multiple exchanges. Um, investing people, completing multiple exchanges, investing in the same property. And they have to, um, and they have to, you know, satisfy their debt replacement requirements, especially if they had different leverage ratios on their, um, on their up leg. And can wind up with a situation where you may need to invest some fresh cash in order to to equalize it. Sam Wilson (00:06:34) - So let me let me see if if I can summarize what you said, you replace the one of the one of the things that's often overlooked is that you replace the debt and the equity. So if it's a $20 million property that you originally purchased and that was debt and equity, again, let's call it 10 million in debt and 10 million in equity. Sam Wilson (00:06:53) - And then you sell that, you harvest, let's call it it was a breakeven deal. You harvest that 10 million in equity. You can't go out and buy a $12 million property with 10 million in equity and 2 million in debt. Exactly. You got to replace that debt. Michael Wiener (00:07:07) - Well, you can you don't have to replace the debt per se, meaning you can add fresh cash. You have to go basically equal or up in value and equal or up in equity. Right. So, you know, if you you could put in $2 million of your own money, you know, not exchange cash or money that you raised from an investor and then just get an $8 million loan, and that's fine. But too many people overlook that, overlook that aspect of it. Sam Wilson (00:07:38) - And that that is not an aspect of that. I even understood until right now. So not just to many people, but myself as well. Uh, so yeah, that, that that's really it has to be equal or greater. Sam Wilson (00:07:49) - Price point. Intro (00:07:50) - Period. Exactly. Sam Wilson (00:07:51) - Then what you previously. Michael Wiener (00:07:53) - Just if you sell, you know, using our fact pattern, if you sell $20 million of real estate that has $10 million of equity, you need to purchase at least $20 million of real estate with at least $10 million of equity. Because you also see, some people will say, hey, well, I purchased the $20 million of real estate. I got a $12 million loan, and I just cashed out $2 million. And yeah, no, you did. That's great. But. It's taxable boot. Sam Wilson (00:08:25) - Right. And you call it boot b o o t. Michael Wiener (00:08:28) - B o o t is what the term is generally called. Sam Wilson (00:08:32) - Taxable boot. There's a new uh there's a new one. I'm going to put that in my newsletter. Michael Wiener (00:08:37) - That's yeah called um generally defined as sort of money or other non like kind of property that you receive in a 1031 exchange. Sam Wilson (00:08:48) - Right. And so you can do it, it's just you just have to know that whatever portion remains you're just going to get taxed on. Michael Wiener (00:08:54) - Exactly. Sam Wilson (00:08:55) - Right. Okay. And and maybe that's an acceptable, uh, you know, solution for some. You presented another wrinkle there that maybe um, just to again to, to hash it out again, you were talking about maybe, you know, let's use that $20 million example again. We'll see if I can if I can craft this correctly. But I sold that I owned it by myself. And then you sold another $20 million property. And together we were going to go in and buy a $40 million property. Right. But maybe your debt to equity ratio was different than mine was. And somehow you've got to get we can go in as tenants in common buying this now new $40 million property together both 1031 and into a bigger deal. But now we've got to figure out some sort of really complicated math as to how it's all got to work out. Michael Wiener (00:09:42) - Well, like, you know, let's say, you know, we're going to go in and buy a, you know, a $40 million property with 20 million of debt. Michael Wiener (00:09:50) - Um, and we're 50, 50 tenants in common. Right. But my. You know, leverage on my download property was, let's say it was very it was more highly leveraged. Let's say it was, you know, $15 million to just to take sort of an extreme example. Okay. When I go in. Um, to that, you know, $20 million property I have to figure out. Well, am I going to put in more cash? Um, if I do, I can put in cash to equalize it. Right. Uh, um, and, you know, that would be fine, but that requires me to come up with $5 million, you know, outside of, uh, you know, outside of the exchange, and, you know, maybe I can go shake the money tree or something, but, uh, you know, that's easier said than done. Sam Wilson (00:10:42) - Right. And so you help clients when they get into these situations where especially I mean, 1 or 2 is complicated, but I imagine 810 on a much even bigger property than that. Sam Wilson (00:10:51) - Yeah, it becomes a bit of a, uh, yeah, a bit of a process. You have some. Michael Wiener (00:10:55) - Uh, pretty extensive Excel schedules, let's put it that way. Sam Wilson (00:11:01) - Right? Sam Wilson (00:11:01) - I bet you do. I bet you do. And when and when people get into these situations, like, do you find that they come to you at the 11th hour going, oh, crud, we didn't think through this and now we need help. Is that pretty common that happens. Michael Wiener (00:11:16) - That's happened. Um, the you know, the good, the good clients, the, uh, the the clients who I've worked with for a long time, generally by now know to, uh, to get me involved early. But it is, let's just say, not uncommon for, uh, you know, people to come at the 11th hour. And, you know, we had one, you know, just. A year ago that I can think of where, you know, literally a week before closing, we had to restructure significantly the, uh, transaction. Michael Wiener (00:11:52) - Um, the client scheduled it or structured it without tax advice. Um. With three tenants and or they had tax advice but not 1031 advice with three tenants in common. And you know, one was just a fresh cash tenant in common not exchanging one one with one or I guess the other two were exchanging and. Basically I, you know, took a look at it and within three minutes I said, oh, you're going to have, you know, $7 million of boot of taxable boot based off of not replacing your debt. And what we had to do was we wound up having to combine the fresh cash non exchange tenant and tenant in common, make that part of the exchanging tenant in common and that using those those numbers allowed it to uh allowed it to work and to get them to satisfy all the requirements. But you're talking about org charts already haven't been given to, um, to a lender. You're talking about documents already having been drafted and signed and having to go back to people and saying, well, you know, you were going to invest because for the people who are investing in the what I'm going to call fresh cash tenant and common. Michael Wiener (00:13:15) - There are, you know, a set of expectations with regards to your depreciation and outside basis in your joint venture. And these are technical terms I know, but uh, but um, there are certain let's call it tax expectations that. You would expect to have when you are investing in, um, a non exchanging entity just in a straight real estate deal, in a straight real estate syndication. And those things change a bit when you're, uh, when you're coming into an entity, when you're coming into an existing partnership that is competing with 1031 exchange, there are different issues that you need to be mindful of. And and they can be worked out. But, you know, people need to be aware of them. And people need and, um, documents need to, you know, need to address them and reflect them. And, um, you know, doing all of that a week before closing is, you know, lots of fun. Uh. Sam Wilson (00:14:20) - So is that what they call it? Michael Wiener (00:14:22) - I would, um, I would strongly encourage people to, uh, to if you're doing a 1031 exchange, consult your tax advisors early. Sam Wilson (00:14:34) - Consult them early. Absolutely. Michael Wiener (00:14:35) - And especially early and early and often I would say. Right. Sam Wilson (00:14:40) - And I would think, you know, on a single property, single investor, it's pretty it's pretty cookie cutter. Michael Wiener (00:14:47) - Well, yeah, when. Sam Wilson (00:14:48) - You get into stuff like this, the complication factor just rises, uh, you know, dramatically. So that's, that's really, really interesting. And how, how do you feel like when you're going back and dealing with legal? Because I mean, at this point, I imagine in this particular scenario, talking about like you're getting legal on the phone, you're getting everybody on the phone to go back and start redrafting all of this paperwork and making appropriate changes. How how is that interaction with, I guess, on the on the legal side of things like, is that a complicated or is that or is that a sticking point for you guys in your business, where sometimes the legal side doesn't understand what you guys understand on the tax side? Or how does that, uh, how does that work out for you? Michael Wiener (00:15:29) - I mean, and that's an important, uh, an important point is that the clients need to have for these types of more, you know, sophisticated deals. Michael Wiener (00:15:39) - You need to have a sophisticated team all around. And that means, you know, both tax and legal. So, so that when, you know, we go and we tell the legal team, well, this is what needs to be in the operating agreement. Um, and we get it back for review. That's actually in the operating agreement. They understand what we mean. They understand what concepts we're talking about, and they know how to draft those provisions. Um, and, you know, if need be, then I will go in and, you know, draft those provisions or correct them as necessary. Um, you know, as, as tax attorneys, we still do a lot of drafting. Sam Wilson (00:16:21) - I bet you do. That's really cool. I love to hear the nuanced layers to things that are, I think, generally seen as pretty cut and dry, such as the 1031. It's generally like, oh, okay, well, we 1031, we bought one or we sold one, and then we bought another one and then we moved on down the line. Sam Wilson (00:16:36) - But there's always, always another layer to, uh, to what it is we're working on. And it sounds like you, you go many layers deeper than what many of us oftentimes see. So anything else on the 1031 front, we should really highlight here that, uh, are things that either people get wrong, should be preparing for earlier, or are misconceptions anything else you want to hit on that front? Michael Wiener (00:16:59) - Well, yeah. I mean, I think when people hold real estate through a legal entity, through an LLC, through a through a partnership, and if worse, through a corporation. Um, I'll get to that in a second. Uh, you need to people need to understand that it is that legal entity. It is the, you know, if you have a, um, so just by way of background, if you have a, a multi-member limited liability company, it is by default treated as a partnership for tax purposes. For tax purposes, if you have a single member LLC, it is by default treated as, um, treated as a disregarded entity for income tax purposes. Michael Wiener (00:17:42) - In either case, you can elect to have that entity treated as a corporation for income tax purposes. That's very rare in the real estate, uh, industry. Um, but occasionally you see it. Um, and but the important thing is that it's that entity that is doing the exchange. So you have a concept called the same taxpayer principle, which I know, um, has been discussed on your show before. Uh. Which says that the. The legal, the tax entity, the entity for tax purposes. The taxpayer that sold the download property needs to acquire the uploaded property. And where that becomes tricky is where you have partners who want to go their separate ways. You know, they had a good run on the last deal, but now they say, well. We, um. We want to. We don't want to be together on the next deal. So to take, you know, the exact one or riff off of the example we were using. You know, you and I are 50, 50 members of an LLC that is taxed as a partnership. Michael Wiener (00:18:59) - And, uh, we had a really good run, and we, you know, our our property did very well. And now we're going to sell it and say, okay, well what are we going to buy next? And, you know, I say, well, I want to go into industrial. You say, no, I want to go into multifamily or for any or, you know, occasionally you have people that just don't like each other. So I don't think that would happen with us. But, uh, um, uh, you know, for various reasons, there are any one of a number of reasons why, when they're selling the property, that people don't want to be committed to investing in the next property together and structuring those types of exchanges is very complicated. And it can be done. It can be done. There are several different structures and several different alternatives. Um, I can get into them if you'd like, but, uh, somewhat technical. Um. But that also requires consulting your tax advisors early and often. Sam Wilson (00:20:03) - Right? No, I can only. And maybe even isn't for reasons. You know, it's not like the partnership fell apart. Maybe you, Michael, just don't want to. You don't like the property that we're 1030 running into or. Michael Wiener (00:20:14) - Yeah, I mean. Exactly. Sam Wilson (00:20:15) - You want to do something else, like. Well, you know that that was fun. We had a great run, but I really don't want to move on with the next ones. And now we got to figure out a way to, uh, for, say, or in. Michael Wiener (00:20:24) - Some instances or in some instances, you know, let's say I had inherited my partnership interest in our thing and our LLC. And I say, well, because I inherited it, I have a stepped up tax basis. I'm not going to pay any tax on a sale. Right. I want to sell for cash. Right. Um hmm. Sam Wilson (00:20:44) - Yeah. And that opportunity to get that stepped up cash out basis isn't going to happen once you 1031 to the next property. Michael Wiener (00:20:52) - Exactly. Sam Wilson (00:20:53) - It's got to happen now, right? That's interesting. I hadn't thought about that. Michael Wiener (00:20:59) - I mean, so there are, you know, there are these situations which we deal with every day and there are about, you know, 20,000 different variations of these, uh, um, that we deal with every day. And, uh, and, um, you know, it's very, you know, it's very challenging. It requires a lot of cooperation. It's sort of like a, uh, you know, a three legged race, probably the ultimate three legged race you need to get, you know, you feel almost like a, uh, like a symphony, like conductor. You're like, okay, now I know you're doing this, now you're doing that. I know you're moving gear. Everybody needs to like, you know, move in concert. The documents. Um, and there are a lot of documents on these deals need to all be, you know, consistent. And then when it comes to filing the tax returns, tax returns need to be filed in a, uh, way. Sam Wilson (00:22:00) - I didn't even think about that. So there's. I'll give you an example. I was I was a passive investor in a. This is probably more relevant to our listeners in a syndication. I was a passive investor in a syndication, and the deal went full cycle in like, I don't know, 12, 14 months. I mean, it was it was great. Everybody doubled their money, loads of fun. And so they said, hey, you know what? We should we should 1031 this entire syndication into the next deal. Except there were some of us that were like, ah, you know, I don't need to I don't like the Nick. And I in my case, I was one of those people said, I don't want to like the next deal, and I don't want a 1031. And I was an investor through a retirement account into that syndication. So I really don't care if I. 1031 it's it's a zero tactical advantage or tax advantage to me. And so that was really interesting. Sam Wilson (00:22:50) - And again, I got to sit in the sidelines and kind of just watch it. You know, I just said, no, I don't want a 1031. And then of course, you know, I don't know the volumes of, of documents and paperwork and. Michael Wiener (00:23:00) - No, but you know, what winds up, you know, what winds up happening as well there there are a few practical, uh, you know, points there. Most indications the syndicator is not going to give you the option. Right. Sam Wilson (00:23:15) - They're going to say, you know, we are. Michael Wiener (00:23:16) - Going to, uh, you know, we are going to. 1031 if it's something that you think you may want to do or may want to have the right to. It's important to start talking about that early, early, early, early in the process. Um, uh, because then you can negotiate things into your joint venture agreement. That will allow that. And the challenge, um, is that, you know, once the money, once the cash from the sale goes into the 1031 exchange accommodation account, and, you know, to some extent even before then, it's really in a lockbox. Michael Wiener (00:23:59) - You can't use it to just, you know. I remember a one time appliance said, oh, and if we need more money for that, we'll just pull money out of the accommodate our accountant. I said, oh no, you won't. Sam Wilson (00:24:11) - Um. Michael Wiener (00:24:12) - Uh, first, most any accommodating that's, you know, really worth it won't let you. Right. Um. And even if they would. As your tax advisor, I wouldn't let you. Right. Sam Wilson (00:24:27) - Right. No. Sam Wilson (00:24:27) - Because then you negate all of the potential savings of even doing the 1031. Michael Wiener (00:24:33) - You would blow your 1031 exchange. So you have to come up with a way. And there are ways of, um. You know, generating that cash. Sometimes it's they find another person to come and buy you out, and that person is going to take your place in the partnership. Uh, sometimes there is a, uh, a, um, a strategy that's used where the exchange of commentator will issue in a, in installment note, a promissory note to the partnership that is doing the, uh, the 1031 exchange. Michael Wiener (00:25:10) - And the partnership can distribute that out to, um, to the investor that is being redeemed. If you're able to and you're able to do this on time, namely, before you really get into negotiating a purchase agreement, you can create a tenancy and common structure where the people who don't want to do their 1031 exchange get redeemed from the partnership in exchange for tenancy and common interest in the property. And they then sell the property, um, you know, in a taxable sale and, uh, and the, um, the people that are doing the exchange continue to just exchange. Sam Wilson (00:25:47) - And I'm pretty sure that was what happened. It's been a few years, so I don't remember the specifics of it, but I'm pretty sure I do remember seeing something about ticks in there and some other things. And. It all worked out really well. Uh, but it was it was certainly interesting to see from the sidelines. We got about 60s left here. Michael. And I did want to get your thoughts on this real estate held in a corporation. Sam Wilson (00:26:06) - You kind of gave a an indication that that was bad. Uh, break that one down for me if you can. Michael Wiener (00:26:13) - Well, so first, there are just obviously two types of corporations for tax purposes. There's a C corporation and an S corporation. A C corporation is taxed as a separate person. So it pays a tax. And then when it distributes money, the investors or shareholders pay tax on what's called a dividend or a distribution. Um, an s corporation, the uh, the, the tax flows through to the shareholder. So you might say, well, how is an s corporation different than a tax partnership. That's also a flow through entity. And there are two primary differences. And that are important when it comes to real estate. The first is that. In, uh, in a tax partnership, let's say you and I put in $1 million into an LLC, and the LLC borrows, you know, $8 million, and we buy a $10 million property. We have a $10 million between us. Michael Wiener (00:27:18) - Taxable basis each, a $5 million taxable basis. And we can take depreciation deductions on that for 5 million, including our share of the debt. If we were shareholders in an S corporation, we would not get basis for that share of the debt. So we would not be able to get deductions passed through to us on that 4 million, only on our 1 million. The second problem with corporations is that when you distribute appreciated property out of a corporation, it's treated as a taxable sale by that corporation. So these types of structures I'm talking about where people want to do different exchanges and create tenancy in common structures, or do or do anything that's really not possible with real estate held in a corporation. Because when you distribute that real estate out of the corporation, it's treated as though the corporation had a taxable sale of that real estate. Sam Wilson (00:28:18) - That is interesting. I wish we had more time to dig into that. I've got lots of questions on that front. Michael, it has been a pleasure having you on the show today. Sam Wilson (00:28:25) - If our listeners want to get in touch with you or learn more about you, what is the best way to do that? Michael Wiener (00:28:29) - Go to Greenberg, glasgow.com. Um, you can email me at M Weiner. Weiner at gofundme.com or um, you can find my phone number on the website. I apologize, I don't remember what it is off the top of my head. Sam Wilson (00:28:48) - No problem at all. We'll make sure we include all of that there in the show. Notes. Michael, thank you again for coming on today. I do appreciate it. Sam Wilson (00:28:54) - Absolutely. Thank you very much for having me. Sam Wilson (00:28:56) - Hey, thanks for listening to the How to Scale Commercial Real Estate podcast. If you can do me a favor and subscribe and leave us a review on Apple Podcasts, Spotify, Google Podcasts, whatever platform it is you use to listen. If you can do that for us, that would be a fantastic help to the show. It helps us both attract new listeners as well as rank higher on those directories. So appreciate you listening. Sam Wilson (00:29:18) - Thanks so much and hope to catch you on the next episode.
December 12, 2023 Hour 3: Tax attorney Steve Moskowitz joined the show to give advice on multiple different tax issues & how he can help. KMJ's Afternoon Drive with Philip Teresi & E. Curtis Johnson Weekdays 2-6PM Pacific on News/Talk 580 & 105.9 KMJ Follow us on Facebook, Instagram, and X Listen to past episodes at kmjnow.com Subscribe to the show on Apple, Spotify, or Amazon Music Contact See omnystudio.com/listener for privacy information.
Host Scott Phelan discusses year-end tax planning with CPA Alexander Larson, tax attorney Chris Wiginton, and Kim Hartsock, managing partner with Warren Averett CPAs and Advisors. No matter where you are in life - just starting out, in your peak earning years, nearing retirement, or contemplating your legacy - Phelan and Myers Wealth Management Group […]
Len Green, the founder of The Green Group, joined this week's TDN Writers' Room to share what breeders and owners can do before the close of the year to save money on taxes.
Tax season can be a nerve-wracking time, especially when juggling a side hustle. Tune in to learn the single most important piece of tax advice that could save you from getting into trouble with the IRS. Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week. Show notes: SideHustleSchool.com Email: team@sidehustleschool.com Be on the show: SideHustleSchool.com/questions Connect on Twitter: @chrisguillebeau Connect on Instagram: @193countries Visit Chris's main site: ChrisGuillebeau.com If you're enjoying the show, please pass it along! It's free and has been published every single day since January 1, 2017. We're also very grateful for your five-star ratings—it shows that people are listening and looking forward to new episodes.
Tax expert Ed Slott explains why following some tax advice on TikTok could lead to an IRS audit. Jack Shannon, Morningstar Research Services' senior manager research analyst, pits the valuation of privately held ByteDance against publicly traded rivals Meta and Snap.How are Companies like ByteDance Valued?Why Valuations MatterByteDance and Tech's 2023 RallyTikTok, Meta, and Snap TikTok's Business RisksThe “Unicorn of all Unicorns”IRS Releases Memo About TikTok TrendAudit Warning What the TikTok Trust Promoters Are Getting WrongHow to Protect Yourself Read about topics from this episode. How Mutual Funds Are Valuing TikTok, Twitter, and Other Private Companies https://www.morningstar.com/funds/how-mutual-funds-are-valuing-tiktok-twitter-other-private-companiesThe Best and Worst Mutual Fund Bets of the Past 25 Years https://www.morningstar.com/funds/best-worst-mutual-fund-bets-past-25-yearsIRS Chief Council Memo https://www.irs.gov/pub/lanoa/am-2023-006-508v.pdf What to watch from Morningstar.Payment Pause Ends: Student Loan Expert Shares Repayment Tipshttps://youtu.be/wVr-_KOM3Qw?si=GtSJQNVoPsbXDHiaUAW Strike Raises Investor Risks https://youtu.be/D-fkLxPeVVI?si=HxF5jUQPju2AJmDt3 of the Best Robo-Advisors, and One of the Worst https://youtu.be/BSoSdJdUFKU?si=4K7BciRIHIq7Run9Stocks to Consider as the U.S. Pushes to Reclassify Cannabis https://youtu.be/fME1Oyit2CY?si=XbvRY1fz-etDjn4o Read what our team is writing:Ivanna Hampton https://www.morningstar.com/authors/2399/ivanna-hamptonJack Shannon https://www.morningstar.com/authors/2372/jack-shannon Follow us on social media.Facebook: https://www.facebook.com/MorningstarInc/Twitter: https://twitter.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/
Today's episode is a replay of my episode on The Money Bare Podcast. Below is the episode recap from Chloe. We've all seen it-- tax advice on Instagram telling folks they can write off their dog as office security, or folks telling people to buy a g-wagon to write it off... but how does that stuff hold up with the IRS??? And what tax-saving tips should small business owners pay attention to? In this week's episode, Shannon Weinstein, CPA, breaks it down. Shannon is a CPA and fractional CFO for growth-minded business owners. A teacher at heart, her real-life relatable examples simplify the financial side of the business so you can stop stressing and start scaling. She hosts the IRS's least favorite podcast, Keep What You Earn, which consistently ranks in the top 200 in Entrepreneurship. She is a frequent speaker in business coaching communities and masterminds. What you'll hear in this episode: [0:12] Episode and guest introduction. [1:22] Doing the CPA thing differently [2:55] Buying stocks at 12 years old [8:18] Shannon's father's vision for her [12:43] Shannon's view on money growing up [18:20] Ending up in Costa Rica [27:10] Tax advice on Instagram [33:32] The Augusta Rule [51:00] Inheritance money [52:30] Very first money memory * Related episodes: 3 Steps to Hire Your Kids the RIGHT Way Protecting Your Legacy Through Estate Planning with Clara Delgado Rossell Understanding Criminal Tax Activity and The Repercussions with Robert Nordlander Tactical Resources: 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator Additional Resources: Find everything you need at https://www.keepwhatyouearn.com Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa Hire us: https://www.fitnancialsolutions.com/accounting Find me on IG https://www.instagram.com/shannonkweinstein/ Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
This week Nimesh Shah and Rob Goodley discuss the perils of poor Stamp Duty Land Tax adviceSee omnystudio.com/listener for privacy information.
You don't need to be a real estate agent to want to know how to save on taxes, invest in real estate, prepare for retirement, and better manage your money… But if you are a real estate agent and want to know how to do all those things, then this very information-packed episode of the Tom Ferry Podcast Experience is for you. I'm talking with tax attorney and investor Toby Mathis about how to save on taxes and much more, including: The best business structure to file The benefits of investing vs. saving 1031 exchanges Passive capital gains Finding investment deals This is an episode you'll want to take notes on and then send to whoever does your taxes. When tax season rolls around, check in with that person to make sure they watched it and are able to check off everything on the list. And if you're looking for some hands-on tax and investment advice from some of the best advisors in the business, check out this link to sign up for a Free Consultation with Anderson Advisors! This 45-minute call will cover everything you need to know about tax savings and asset protection on your investments – a $750 value!
That's right: Lorilyn Wilson is our new favorite CPA who makes taxes *actually* kinda fun. Nicole holds nothing back and asks all the burning tax questions people are normally too scared to ask: How can I get the most back on my tax refund? Are there any new tax credits this year I can benefit from? If I'm a business owner, can I deduct my clothes? If I mess up my tax return... will I go to jail? It's going down! Learn more about Lorilyn here: https://www.linkedin.com/in/lorilynacrum/
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