Vital Strategies

026 | You Can’t Hustle Your Way to Happiness: Your Mental Health Matters!

Culture wants us to buy into the myth that if we just earn another dollar, we will be happy.  
What if I told you that taking intentional rest and optimizing your mental health could be the key to unlocking your full potential as an entrepreneur? 
In the latest episode of the Vital Strategies Podcast, host Patrick Lonergan dives into the world of mental health with licensed therapist, counselor, and mental health coach, Amanda Asay. Drawing from their personal experiences, Patrick and Amanda offer insights from the viewpoint of entrepreneurs, challenging the common belief that achieving financial success or reaching the next level will automatically lead to happiness.  
They discuss topics such as understanding one's level of tolerance to deal with the challenges of life, identifying mental health baselines, and developing tools to navigate the ups and downs of emotions. Patrick and Amanda also explore the relationship between stress and intentional rest, challenging limiting beliefs around rest and highlighting the inability to "hustle" one's way to happiness. 
Key Takeaways: 
Mental health is a continuous journey, not a final destination 
Exploring the myth that financial success will make us happy. 
Taking proactive steps is crucial when struggling with mental health 
Developing tools to navigate emotional ups and downs that everyone will face in life no matter your financial or business success. 
Challenge limiting beliefs around rest. 
Listeners are encouraged to connect with Amanda through her website and explore how practices like mindfulness, including their shared experience with Lego, can play a transformative role in mental health maintenance. 
 
Resources:   
Visit www.vitalstrategies.com to download FREE resources     
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    
Follow on Instagram at https://www.instagram.com/vital.strategies      
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     
 
Credits:    
Sponsored by Vital Wealth    
Music by Cephas    
Audio, video, and show notes produced by Podcast Abundance   
Research and copywriting by Victoria O'Brien 

025 | Tax Credits and Deductions - Opportunities to Pursue and Pitfalls to Avoid

Curious about the qualifications for tax credits? We're breaking down the criteria and debunking common myths to help you navigate the tax landscape with confidence.  
 
Host Patrick Lonergan sits down with tax strategy expert Matthew Geltz from KBKG to explore the world of holistic tax planning. With a focus on specialty services and innovative approaches, Geltz sheds light on how businesses and individuals can optimize their tax savings. 
 
Throughout the discussion, Geltz provides invaluable insights into key tax strategies, such as Cost Segregation studies and the significance of creating distinct buckets to maximize deductions effectively. Listeners get to listen in as Patrick and Matthew explore tax credits, including opportunities surrounding energy efficiency initiatives like 179D. They will discuss the intricacies between energy efficient tax credits and deductions. Geltz explains the pitfalls with concepts such as the Employee Retention Tax Credit, offering clear guidance on qualification criteria and potential rewards for eligible businesses. 
 
From understanding the nuances of how to qualify for these deductions and credits and navigating changes in legislation, Geltz and Lonergan provide listeners with actionable strategies to optimize tax planning and capitalize on available incentives. 
 
Key Takeaways: 
Understanding the nuances of Cost Segregation studies 
Exploring tax deductions such as 179D, presents opportunities for maximizing savings 
Distinguishing between tax credits and deductions 
Qualification criteria for tax credits involve both qualitative and quantitative assessments 
Have professionals on your side to stay up on legislative changes, is key to effective tax planning 
Resources:   
Guest contact: Matthew.gelt@kbkg.com
Visit www.vitalstrategies.com to download FREE resources     
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    
Follow on Instagram at https://www.instagram.com/vital.strategies      
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     
 
Credits:    
Sponsored by Vital Wealth    
Music by Cephas    
Audio, video, and show notes produced by Podcast Abundance   
Research and copywriting by Victoria O'Brien 

024 | The 4 Cornerstones of Wealth Building: Cash Flow

Have you ever wondered why some businesses thrive while others struggle to stay afloat?  
Hint: it's not luck or chance. Get ready to explore the framework for building a resilient and prosperous business. 
In today’s episode, host Patrick Lonergan guides entrepreneurs on a transformative journey from amateur financial structures to organized, effective systems called the Entrepreneur Private Office. The Entrepreneur Private Office was born from his personal experience as an entrepreneur as well as working with successful entrepreneurs who are making over $1,000,000 a year. 
This episode accelerates wealth building and cash flow optimization, focusing on understanding cash flow fundamentals, setting liquidity thresholds, and automating financial processes.  
We address common pitfalls, such as debt management, and offer insights into active vs. passive income. This episode is packed with actionable strategies and a sneak peek into the remaining cornerstones of wealth building, setting the stage for a comprehensive approach to move from having an amateur financial structure to a professional one. 
Key Takeaways: 
Transition from amateur financial structures to organized, effective systems with the Entrepreneur Private Office framework.
Accelerate wealth building and optimize cash flow through actionable strategies. 
Learn how to not fall victim to the number one reason businesses go out of business – running out of cash. 
Learn techniques for automating financial processes and optimizing active and passive income streams.
Address common pitfalls in debt management and prioritize strategic debt repayment. 
Resources:
Visit www.vitalstrategies.com to download FREE resources     
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    
Follow on Instagram at https://www.instagram.com/vital.strategies      
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     
 
Credits:    
Sponsored by Vital Wealth    
Music by Cephas    
Audio, video, and show notes produced by Podcast Abundance   
Research and copywriting by Victoria O'Brien 

023 | Tax Strategy: Niche Deferred Compensation Solution for Law Firms

Curious about the role of innovative financial solutions in empowering plaintiff contingent fee law firms to grow their businesses?  
  
In today’s episode, we explore the fascinating world of tax strategy and financial planning with our special guest, Mike McGarry. As the Managing Director at Optcapital, Mike brings a wealth of expertise in crafting innovative solutions tailored to the unique needs of plaintiff contingent fee law firms.  
  
Mike sheds light on the complexities of tax strategy surrounding the huge swings in income for contingent fee law firms. He explores the intricacies of deferral programs versus structured fees, offering insights into how both solutions aim to address the challenge of managing large contingent fees and timing income recognition.  
  
Key Takeaways:  
Tax strategy and financial planning is vital for plaintiff contingent fee law firms  
The deferral program tackles managing large fees and the timing of when the income becomes taxable  
The plan streamlines complex transactions with flexible contributions and withdrawal rights  
 
Resources:   
Visit www.vitalstrategies.com to download FREE resources     
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies    
Follow on Instagram at https://www.instagram.com/vital.strategies      
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast     
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/     
 
Credits:    
Sponsored by Vital Wealth    
Music by Cephas    
Audio, video, and show notes produced by Podcast Abundance   
Research and copywriting by Victoria O'Brien 

022 | Have You Hit a Plateau in your Business? Unlock the Secrets to Breakthrough Growth

Are you ready to take your business to new heights? In our latest episode of the Vital Strategies Podcast, we had the privilege of hosting strategic business coach David Greer, who shared wisdom he has earned over the last 40 years of being in business. We discuss navigating growth plateaus and unlocking your business's full potential. 
David shares the importance of strategic planning and forward-thinking. From crafting a master plan that encompasses both business and personal growth to understanding market dynamics and fostering a culture of high performance, David leaves digs into what it takes to run a successful business. 
So, join us as we embark on a transformative journey with David Greer, discovering the keys to unlocking growth, fulfillment, and resilience in both business and life. 
Key Takeaways: 
Crafting a master plan, setting clear goals, utilizing tools like the One Page Strategic Plan 
Financial Best Practices 
How to Manage People and Culture 
Creating an Ideal Week for Entrepreneurs 
Resources:  
Visit www.vitalstrategies.com to download FREE resources    
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies   
Follow on Instagram at https://www.instagram.com/vital.strategies     
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast    
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/    
Credits:   
Sponsored by Vital Wealth   
Music by Cephas   
Audio, video, and show notes produced by Podcast Abundance  
Research and copywriting by Victoria O'Brien 
 

021 | How to Protect Your Assets and Build an Estate Plan with Attorney Kyle Irvin

Do you want to ensure your assets are shielded from creditors and legal liabilities? Learn how to legally avoid paying the federal estate tax which is 40%. Join us for an insightful discussion on asset protection and estate planning with Kyle Irvin. 
In our most recent episode, we sit down with Kyle Irvin, an expert in asset protection and estate planning. I have worked closely together with Kyle for years. He brings practical wisdom to the table, unraveling the complexities of asset protection strategies and legal nuances across different states. 
In this episode, Kyle explains the various levels of asset protection, from safeguarding your home and retirement accounts to navigating the intricate laws surrounding LLCs and corporations. He sheds light on critical components to ensure solid asset protection, including the importance of annual meetings, maintaining corporate records, and treating LLCs as bona fide businesses. 
Unlock the secrets to securing your financial future and leaving a lasting impact for generations to come. 
Key Takeaways: 
Comprehensive asset protection strategies 
Key components of asset protection 
Leveraging LLCs and corporations 
Advanced techniques like siloing assets and series LLCs 
Utilizing trusts for estate planning 
Resources:  
Visit www.vitalstrategies.com to download FREE resources    
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies   
Follow on Instagram at https://www.instagram.com/vital.strategies     
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast    
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/    
Credits:   
Sponsored by Vital Wealth   
Music by Cephas   
Audio, video, and show notes produced by Podcast Abundance  
Research and copywriting by Victoria O'Brien 
 

020 | The $250 Billion Question: Abacus Life's Solution to Your Problem Life Insurance Policy

Episode coming soon!
Resources:  
Visit www.vitalstrategies.com to download FREE resources    
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies   
Follow on Instagram at https://www.instagram.com/vital.strategies     
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast    
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/    
Credits:   
Sponsored by Vital Wealth   
Music by Cephas   
Audio, video, and show notes produced by Podcast Abundance  
Research and copywriting by Victoria O'Brien 
 

019 | The Value of Planning: Steven Jarvis CPA Retirement Tax Services

Do you find financial planning to be a one-size-fits-all experience? Challenge that notion with the Vital Strategies Podcast, where we discuss the importance of personalized, proactive planning tailored to your unique goals. 
In this episode, Patrick Lonergan and Steven Jarvis unpack Vital Wealth's core principles, initially featured on the Retirement Tax Services Podcast. Discussing the crucial link between tax savings and wealth building, involving proactive tax planning, cash flow optimization, and strategic funding.  
Discover how Vital Wealth strategically positions clients' finances to minimize tax liabilities, explore their pricing model, and understand the importance of ongoing client involvement in crafting tailored strategies. From onboarding specifics to monthly expectations, the episode highlights the significance of maintaining an active partnership with clients. 
Key Takeaways: 
The Vital Strategies Podcast Origin 
Tax and Wealth Connection 
Minimizing Tax Liabilities 
Comprehensive Approach to Proactive Tax Planning 
Resources: 
Visit www.vitalstrategies.com to download FREE resources   
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  
Follow on Instagram at https://www.instagram.com/vital.strategies    
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/   
Credits:  
Sponsored by Vital Wealth  
Music by Cephas  
Audio, video, and show notes produced by Podcast Abundance 
Research and copywriting by Victoria O'Brien
 

018 | Guest Encore: Recap - Wisdom from Our Experts

This week, Patrick takes you on a journey through some of the most impactful moments from the last quarter. We're thrilled to present a compilation of insights and wisdom from our incredible guests. We are focusing on the crucial topics of tax strategy, wealth building and setting up your business for long-term success. 
Tune in as we revisit key highlights, featuring expert tips on tax strategy, wealth management, entrepreneurial growth strategies, and visionary insights on future-proofing your business. Each snippet is carefully selected to provide you with a taste of the valuable knowledge shared by the experts we’ve had on the show. 
As we dig into this compilation, we want to express our gratitude to the guests that have joined our podcast. Their wisdom allows us to pay less tax and build more wealth so we can live a great life. We're excited to celebrate their contributions in this episode. We encourage you to explore the full interviews with these guests on our podcast page and keep an eye out for more expert guest. 
Key Takeaways: 
Important Tax Saving Opportunities 
Wealth Management Insights 
Entrepreneurial Growth Strategies 
Future-Proofing Your Business 
Resources: 
Visit www.vitalstrategies.com to download FREE resources   
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  
Follow on Instagram at https://www.instagram.com/vital.strategies    
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/   
Credits:  
Sponsored by Vital Wealth  
Music by Cephas  
Audio, video, and show notes produced by Podcast Abundance 
Research and copywriting by Victoria O'Brien 
 

017 | Unlocking Tax Savings through Real Estate with Kevin Jerry

Today we sit down with tax expert Kevin Jerry to unlock a world of possibilities in real estate. Having personally witnessed Kevin save a client $1.5 million in income tax, we explore how his unique approach bridges the gap between your CPA's services and beyond. 
 
In this episode, Kevin digs into Cost Segregation, Tangible Property Regulations, and Partial Asset Dispositions, illustrating their interconnectedness with real-world examples. Discover the opportunities each strategy unveils, and don't miss our discussion on the often-overlooked tax incentives for real estate. 
 
Key Takeaways: 
Strategic Concepts Explored 
How to Take Advantage of Deductions in the Past 
Tax Incentives 
 
Resources: 
Visit www.vitalstrategies.com to download FREE resources   
Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  
Follow on Instagram at https://www.instagram.com/vital.strategies    
Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   
Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/   
Credits:  
Sponsored by Vital Wealth  
Music by Cephas  
Audio, video, and show notes produced by Podcast Abundance 
Research and copywriting by Victoria O'Brien