tax planning Archives - Business RadioX ®

Pro Tax Tip – Tax Increase on the Horizon???

August 6, 2024 by Tom Sheldon

Northeast Georgia Studio

Pro Tax Tip - Tax Increase on the Horizon???

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Jacqueline Sheldon

Jacqueline Sheldon/Bottom Line Tax Solutions Pro Tax Tip

This Pro Tax Tip addresses the question: could my takes be going up in a year?

Bottom Line Tax Solutions specializes in tax planning and tax resolution. The firm focuses on proactive tax planning and working with their clients throughout the year lower their tax liability and to help them keep more of what they make. Bottom Line Tax Solutions can assist clients who have back tax issues work out payment terms with the IRS, get penalties reduced, and in some cases settle their tax debts for less than what they owe.

A proud Community Partner of the Northeast Georgia Business RadioX studio.

Tax Planning vs. “Tax Telling,” with Seth Peabody, iTxRe

March 13, 2024 by John Ray

North Fulton Studio

Tax Planning vs. "Tax Telling," with Seth Peabody, iTxRe

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Tax Planning vs. “Tax Telling,” with Seth Peabody, iTxRe

Seth Peabody: Let’s step into the business owner’s mind and go through their experience and what I’ve garnered from them, also being an entrepreneur. Most CPAs do tax telling. They take your numbers, and they tell you what you owe, and you write the checks, and then you see how much pain it is.

They don’t go into being proactive and thinking of ways to. Reduce your tax and knowing the tax code and using it to the business owner’s advantage. So, for instance, we’re here in Atlanta. A lot of us don’t know about the advantages of oil and gas, and the oil and gas companies really have deep pockets, as we know, and they paid Congress off and Congress makes the rules for the IRS.

And so they have advantageous tax code written specifically to oil and gas. To where, for example, you could take $100,000 and invest it in the stock market and it sits there. You can put it in an independent oil and gas fund and deduct a portion of that in the year you make the investment.

So if you’re at a tax rate and you put in 120 and you’re allowed to deduct a hundred thousand, most everybody’s tax rates, roughly 40%—40 percent times a hundred thousand–you just put $40,000 back in your pocket. So that’s different types of tax strategies and thinking about it differently and being proactive and getting ahead of it.

Listen to Seth’s full ProfitSense with Bill McDermott interview here.

The “One Minute Interview” series is produced by John Ray and the North Fulton studio of Business RadioX® in Alpharetta. You can find the full archive of shows by following this link.

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions, with over $13 billion in assets and more than 190 banking, lending, wealth management, and financial services offices in Mississippi, Alabama, Tennessee, Georgia, and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.

Empowering Small Business Owners: Tax Strategies and Philanthropic Opportunities

February 29, 2024 by Karen

Phoenix Business Radio

Empowering Small Business Owners: Tax Strategies and Philanthropic Opportunities

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Empowering Small Business Owners: Tax Strategies and Philanthropic Opportunities

In this engaging podcast, Karen Nowicki discusses proactive tax planning and charitable contributions for small business owners with Aldo Aprile, a CPA, and Donna Rodgers from the Society of Saint Vincent de Paul. Aldo emphasizes the importance of year-round tax advice and planning for small business owners, including Arizona tax credits, while Donna sheds light on the community-centric mission of Saint Vincent de Paul, urging listeners to contribute and get involved. The conversation touches on financial literacy, personal passions, and the significance of fostering connections for positive impacts in both personal and professional realms.

Get inspired by Aldo and Donna’s stories of personal passion and community involvement, and learn how you can make a positive impact through financial planning and charitable giving.

Aprile CPA: Your boutique accounting partner dedicated to boosting your profits and slashing your taxes.

Aldo Aprile, an ASU grad who’s been in the CPA game since 2004 (yes, that long), has a knack for turning financial gibberish into plain English.

He’s the go-to for business owners who’d rather not use their financial statements as just coffee coasters.

Follow Aprile CPA on LinkedIn, Facebook and Instagram.

St. Vincent de Paul – Phoenix provides services in Central and Northern Arizona to feed, clothe, house and heal those in need. Its mission is twofold–to help people who are struggling and to provide an opportunity for people to help others.

Programs and services include charity dining rooms, food boxes, a medical and dental clinic, housing, homelessness response and prevention, and thrift stores across the valley.

In addition to serving those in need, St. Vincent de Paul believes that strong community engagement and meaningful service opportunities create a stronger and more vibrant community for all.

Donna Rodgers worked 23 years in the legal field during which she was a paralegal as well as assisting attorneys with educating the public on legal issues, specifically elder law and estate planning.

After serving on boards of several nonprofits, including those focused on helping seniors and those experiencing food insecurity, she felt true fulfillment in helping others in need and made the decision to change careers. She has worked in the nonprofit field since 2006 with the last nearly 11 years at St. Vincent de Paul.

Follow St. Vincent de Paul on LinkedIn, Facebook, X and Instagram.

Seth Peabody, iTxRe

February 21, 2024 by John Ray

North Fulton Studio

Seth Peabody, iTxRe

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Seth Peabody, iTxRe (ProfitSense with Bill McDermott, Episode 55)

CPA Seth Peabody joined host Bill McDermott on this episode of ProfitSense. Seth’s firm, iTxRe, emphasizes the importance of proactive tax planning for businesses, and he explained how their approach can significantly impact profitability by strategically reducing tax liabilities. Seth provided insights into tax planning vs. what he calls “tax telling,” highlighted the advantages of having an early and consistent tax plan, and discussed the major issues faced by the CPA industry. Seth also delved into the potential role of AI in aiding the CPA industry, and he underscored the necessity for a pragmatic understanding of accounting for better business outcomes.

Bill concluded the show with thoughts on how to manage the buyer-seller dance.

ProfitSense with Bill McDermott is produced and broadcast by the North Fulton Studio of Business RadioX® in Alpharetta.

Seth Peabody, iTxRe

Seth Peabody has been a CPA for over two decades, working in small, medium, and large firms. In pursuit of growing a niche CPA practice, he learned business owners and high-net-worth individuals didn’t have true annual income tax planning. He created a program and process for clients to reduce taxes annually.

iTxRe creates a proactive environment to assist businesses and individuals across the country with annual income tax planning. They regularly meet with their clients to customize a plan for them. Then they work to control and minimize the impact of income tax on both the business and the individual. Finally, they complete the last step of the plan, filing the tax returns.

Quite simply, iTxRe engages in tax planning, not “tax telling.”

Website | LinkedIn | Instagram | Facebook | Seth LinkedIn

Topics Discussed in this Interview

00:00 Introduction
01:07 Guest Introduction: Seth Peabody, CPA
01:29 Understanding Tax Planning
03:13 Proactive Tax Strategies
04:08 Understanding Tax Credits and Deductions
05:28 The Importance of Quarterly Estimates
07:27 The Role of Tax Planning in Business
09:11 Differentiating in the CPA Industry
15:29 The Impact of AI in the CPA Industry
17:56 The Importance of Understanding Accounting for Business Owners
24:22 The Buyer-Seller Dance in Sales
26:01 Closing Remarks and Contact Information

About ProfitSense and Your Host, Bill McDermott

ProfitSense with Bill McDermott dives into the stories behind some of Atlanta’s successful businesses and business owners and the professionals that advise them. This show helps local business leaders get the word out about the important work they’re doing to serve their market, their community, and their profession. The show is presented by McDermott Financial Solutions. McDermott Financial helps business owners improve cash flow and profitability, find financing, break through barriers to expansion, and financially prepare to exit their business. The show archive can be found at profitsenseradio.com.

Bill McDermott, “The Profitability Coach,” is the Founder and CEO of McDermott Financial Solutions. When business owners want to increase their profitability, they don’t have the expertise to know where to start or what to do. Bill leverages his knowledge and relationships from 32 years as a banker to identify the hurdles getting in the way and create a plan to deliver profitability they never thought possible.

Bill currently serves as Treasurer for the Atlanta Executive Forum and has held previous positions as a board member for the Kennesaw State University Entrepreneurship Center, Gwinnett Habitat for Humanity, and Treasurer for CEO NetWeavers. Bill is a graduate of Wake Forest University, and he and his wife, Martha, have called Atlanta home for over 40 years. Outside of work, Bill enjoys golf, traveling, and gardening.

Connect with Bill on LinkedIn and Instagram, and follow McDermott Financial Solutions on LinkedIn.

PHELAN & MYERS 2 FOR 20: Year-End Tax Planning

December 9, 2023 by Mike

Gwinnett Business Radio

PHELAN & MYERS 2 FOR 20: Year-End Tax Planning

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Alexander Larson, Scott Phelan, Chris Wiginton, Kim Hartsock

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 of Janney Montgomery Scott is here for you. When you work with them, it’s about going beyond investing. It’s about connecting your life and your finances.

They take a comprehensive and customized approach to your finances, by understanding your needs and goals and aligning your investment strategies to help meet those goals. Their depth of knowledge and experience, combined with their firm’s capabilities and resources, enables them to provide high quality service, while offering advice and executing financial solutions for every stage of life.

No needs are more important than your own. They pride themselves in making your needs and goals, their own. They don’t simply work for you. They work with you to understand who you are as an individual and as an investor.

Their mission is to help you to define your financial objectives, and then use that knowledge to develop — together — a plan that is tailored to fit your unique needs and preferences, and is in your best interest. They’re proud to offer comprehensive financial planning resources, providing you access to education, advice, planning, and consultation.

Scott Phelan, CFP®
Executive Vice President/Wealth Management, Financial Advisor

Scott Phelan has over 20 years of financial advising and planning experience. As Executive Vice President/Wealth Management, Financial Advisor, his focus is helping build wealth for high net worth individuals and corporate clients. His core competencies include estate, retirement, insurance and income tax planning strategies. Scott has a long and distinguished career in the financial services industry having held leadership positions at Edward Jones, The Hartford, and New England Financial. Most recently, he was a Senior Vice President, Wealth Management, Financial Advisor/Senior Portfolio Management Director at Morgan Stanley. Scott began his career at the New England Financial Group where he developed and implemented employee 401(k) programs.

Phone: 678.448.4841
sphelan@janney.com

Leaving a Legacy Beyond Wealth, with Anthony Chen, Host of Family Business Radio

August 29, 2023 by John Ray

Family Business Radio

Leaving a Legacy Beyond Wealth, with Anthony Chen, Host of Family Business Radio

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Leaving a Legacy Beyond Wealth, with Anthony Chen, Host of Family Business Radio

In a commentary from a recent Family Business Radio episode, host Anthony Chen discussed a legacy that parents and grandparents leave behind that goes beyond wealth preservation.

Anthony’s commentary was taken from this episode of Family Business Radio. Family Business Radio is underwritten by Anthony Chen with Lighthouse Financial Network.

Anthony Chen, Host of Family Business Radio

This show is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services are offered through Royal Alliance Associates, Inc. (RAA), member FINRA/SIPC. RAA is separately owned and other entities and/or marketing names, products, or services referenced here are independent of RAA. The main office address is 575 Broadhollow Rd. Melville, NY 11747. You can reach Anthony at 631-465-9090 ext. 5075 or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all of the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance. Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

The complete show archive of Family Business Radio can be found at familybusinessradioshow.com.

Olivia and Carmen Amyette, Infinite Energy Advisors, and Gary Massey, Massey and Company CPA

August 10, 2023 by John Ray

Family Business Radio

Olivia and Carmen Amyette, Infinite Energy Advisors, and Gary Massey, Massey and Company CPA

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Olivia and Carmen Amyette, Infinite Energy Advisors, and Gary Massey, Massey and Company CPA (Family Business Radio, Episode 47)

Family business owners Olivia and Carmen Amyette, Infinity Energy Advisors, and Gary Massey, owner of Massey and Company CPA were the guests on this episode of Family Business Radio. Olivia and Carmen, her mom, talked about Olivia’s accomplishments and drive and her devotion to her grandfather that led her to start her own company after college. They discussed the generational influence in their family on the business, how they run their solar energy business, and more.

Gary Massey talked about how he became a CPA, starting his own firm, and his approach to helping business owners. He discussed how he advises his clients to properly set up a business and stay out of tax trouble, tax planning, and much more.

Anthony then asked his guests to reflect on the obstacles they found when starting their business and what keeps them inspired and motivated.

Anthony concluded the show with comments about the most valuable legacy a family can leave to preserve wealth.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network.

Infinite Energy Advisors

Infinite Energy Advisors (IEA) is a boutique solar energy and energy-efficient home improvement firm. Their mission is to empower individuals, communities, and businesses to foster a better, brighter, cleaner future by taking control of their energy.

IEA specializes in creating cost-effective solar solutions to help their clients save money on power bills and achieve sustainability goals.

They are proud to be named a Best of Gwinnett nominee!

Company Website | Instagram | Facebook

**Olivia and Carmen Amyette, Infinite Energy Advisors**

Olivia is the owner of Infinite Energy Advisors. In this family business, her mother Carmen works as a Customer Relations Manager and her father John is the Installation Manager.

Olivia developed a passion for solar energy at Georgia Tech, where she engaged in research projects relating to environmentalism and energy conservation. Olivia took the leap of faith to start her solar company 7 months after graduating from Georgia Tech to follow her passion for renewable energy while also fulfilling her duties as a caretaker of her grandfather.

With more than 4 years of experience as a Technical Program Manager for the Georgia Tech Grand Challenges LLC, Olivia has extensive experience in optimizing technology according to a client’s needs, creating efficient systems, and enriching customer experiences. Having facilitated upwards of 53 research projects during her role as a facilitator at Georgia Tech, Olivia is well versed in project management and has optimized the solar purchasing/installation process to be seamless.

Olivia holds a BS from the Georgia Tech College of Computing, Solar Energy Certifications from Georgia Tech and Solairgen, and is currently working to get NABCEP certified. Her mission is to empower individuals, communities, and businesses to foster a better, brighter, cleaner future by taking control of their energy.

Olivia’s LinkedIn

Massey and Company CPA

Massey and Company CPA is an accounting firm located in Atlanta serving the needs of small businesses and individuals throughout Georgia.

Over the years, they noticed that CPA firms tend to be cold, unfriendly, hectic places. Maybe they are just so busy with tax season.

At Massey and Company, their team is bright, friendly and eager to please. Thanks to the team and their guiding principles, they are a different kind of accounting firm.

Gary Massey founded the company in 2013 with these principles which still guide them today:

Treat people with respect
Be kind – we are all human
Make complex issues less stressful
Charge fair prices

You won’t find stress or drama at the Massey office. Instead, you will find patient, understanding people who sincerely care. All year long.

Website | LinkedIn | Facebook | Instagram | YouTube

Gary Massey, Founder, Massey and Company CPA

Gary Massey is the founder of Massey and Company CPA, based in Atlanta. He has over 30 years of experience in tax preparation, tax planning, and IRS and state tax problem resolution. He holds a CPA, a Master’s degree in Accounting and Master’s degree in Business Administration with a specialization in taxation. Gary is also a Certified Tax Representation Consultant.

Gary’s focus includes helping clients with tax problems. This includes representing clients in front of IRS and state agencies to resolve difficult tax issues, including audits, unpaid taxes, liens, levies, penalties, and notices. His work requires negotiation on a wide variety of tax matters, including offers in compromise, installment agreements, currently not collectible status, and penalty abatement.

Gary enjoys collecting art and spending time with his children and grandchildren. He is married to Chelly, a native of The Netherlands.

Anthony Chen, Host of Family Business Radio

**Anthony Chen, Lighthouse Financial, and Host of “Family Business Radio”**

Anthony Chen started his career in financial services with MetLife in Buffalo, NY in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance. Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

The complete show archive of “Family Business Radio” can be found at familybusinessradioshow.com.

Bringing The Bottom Line Back!

August 3, 2023 by Tom Sheldon

Northeast Georgia Studio

Bringing The Bottom Line Back!

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On this episode of “Bottom Line with Jacqueline Sheldon”, hosts Tom and Jacqueline reintroduce Bottom Line Tax Solutions.

Jacqueline Sheldon/Bottom Line Tax Solutions

A proud Community Partner of the Northeast Georgia Business RadioX studio.

Tax Planning vs. Financial Wellbeing, with Chris Smith, CB Smith & Associates

August 1, 2023 by John Ray

North Fulton Studio

Tax Planning vs. Financial Wellbeing, with Chris Smith, CB Smith & Associates

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Tax Planning vs. Financial Wellbeing, with Chris Smith, CB Smith & Associates

Chris Smith: Tax planning isn’t the end all be all. Improving your wealth is the end all be all. And so we’re not going to implement or suggest a tax solution. That isn’t necessarily in line with improving our clients overall financial well being. And and so that’s, it’s always secondary to financial well being.

But it’s a very important piece. We’re in a segment, we’re not, we’re not a large national firm, so we don’t have a lot of clients that are publicly traded or anything like that. Our clients don’t have investors to impress. They gotta impress the bank every once in a while, but but, so our focus is going to be on tax planning.

Chris Smith: It’s a heavy part of our relationships with our clients. And that’s, that is the business we’re in, by the way, is the relationship business. We may be accountants, but that’s what it is. And and so we’re going to work with our clients to ensure that their financial wellbeing is in place and they’re doing it as a tax efficient manner as possible.

Listen to Chris’s full ProfitSense with Bill McDermott interview here.

The “One Minute Interview” series is produced by John Ray and the North Fulton studio of Business RadioX® in Alpharetta. You can find the full archive of shows by following this link.

Renasant Bank has humble roots, starting in 1904 as a $100,000 bank in a Lee County, Mississippi, bakery. Since then, Renasant has grown to become one of the Southeast’s strongest financial institutions with over $13 billion in assets and more than 190 banking, lending, wealth management and financial services offices in Mississippi, Alabama, Tennessee, Georgia and Florida. All of Renasant’s success stems from each of their banker’s commitment to investing in their communities as a way of better understanding the people they serve. At Renasant Bank, they understand you because they work and live alongside you every day.