Vital Strategies

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 
 

016 | How to Transition Out of Your Business: Exit Strategies with Derek Ripp

Have you ever considered what makes your business truly valuable? Join us as we unravel the key component that could redefine the worth of your company.
In this episode of the Vital Strategies Podcast, we sit down with Derek Ripp, a leading expert in Business Exit Planning. Together, we explore the intricacies of the 5, 4, 3, 2, 1 method - emphasizing proactive planning over reactivity. We take a look at business exit plan from the seller and buyer point of view and how to maximize your businesses value.
A standout moment in our conversation revolves around identifying the singular component that adds unparalleled value to your company. We also unravel the three key areas integral to business exit planning, shedding light on the pivotal role of third-party advisors. Don't miss this episode, where we empower entrepreneurs to construct a comprehensive exit plan, setting the stage for a secure and regret-free retirement.
Key Takeaways:
5, 4, 3, 2, 1 Method
Two Main Options for Selling Your Business
The Singular Component of Value
Three Key Areas of Business Exit Planning
Setting Up for Retirement Without Regret
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 
 

015 | How to Deduct Life Insurance Premiums with Ken Crabb

Have you ever thought about the tax implications of your life insurance plan? Ken Crabb, the mind behind Restricted Property Trust, did and created a groundbreaking solution.
In this episode we welcome Ken Crabb, the visionary creator of the Restricted Property Trust (RPT). Over 25 years ago, Ken embarked on a quest to find a structure for tax-deductible life insurance and ended up creating one of the most innovative solutions in the field. 
In this discussion, Ken shares the essence of the RPT, emphasizing the importance of structuring life insurance plans with a sound business purpose. Learn about the trust's selective nature, attaching to a single entity and impacting entrepreneurs with multiple businesses. Ken explains the intricacies of maximizing deductions, lowering tax bills, and how RPTs facilitate family transitions. Discover the affordability, liquidity, and flexibility of these structures, making this episode a must-listen for those seeking strategic financial planning insights.
Key Takeaways:
Selectivity of RPT
Structuring Life Insurance Plans
Audit Resilience
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 
 

014 | Strategic Tax Planning, Cashflow Management, and Effective Wealth-Building: Listener Q&A

Securing long-term financial freedom requires careful consideration of cashflow and making calculated investments without jeopardizing business growth. Entrepreneurs must conduct their due diligence by implementing tax strategies, maximizing retirement plans and deductions, and should always consult with professionals to navigate the complexities of financial management successfully.  
In this episode, you’ll also hear: 
Leveraging family business tax benefits and deductions   
Drawbacks of getting your taxable income to zero 
Proactive vs. reactive approach to taxes   
Real estate investing, automation, and maintaining liquidity  
Suggestion for working with financial professionals  
 
Must-listen moments:  
[00:06:30] If your CPA is over their head with your tax strategy, that's not uncommon. Oftentimes, CPAs, we need to understand that their business model is really just getting the tax return to the IRS in a way that is compliant. 
[00:14:43] The QBI deduction, the qualified business income deduction, is the lesser of two numbers, it's the lesser of 50% of your wages or 20% of net income. When you're one of the only employees, or if you've got a small number of employees, you can start changing your, your wage and every dollar in wage brings the net income number down. 
[00:28:25] Automation makes all the sense in the world. One of the reasons the 401k for the traditional employee has worked so well is the dollars never hit their bank account. The money comes straight out of their paycheck, goes into the 401k, gets invested, and then they hit retirement with a million, 2 million in their investment account. 
 
If you’re focused on paying less tax and building more wealth, so you can live a great life, fill out a short survey at www.vitalstrategies.com/client to explore working together.  
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 
 
 

013 | Creating Lasting Wealth - Beyond Entrepreneurial Myths and Real Estate Hype

There are 3 key components to building real, sustainable wealth, and they aren’t as effortless as the fun, flashy, or as easy as online gurus make it seem.  
One of those keys is owning a profitable online business. However, while entrepreneurship CAN create wealth, it comes with several cautionary tales.  With a lens on the tough road to business ownership, we discuss the essential qualities for success—having a solid 'why,' controlling impulses, and fostering innovation. 
To create long-lasting wealth, your choice in investments is key. Strap in as we divulge the ins and outs of growing a hefty real estate portfolio, where my partner in life and business, Julie, became the linchpin of our operation. We'll navigate the complexities of financial leverage, the unsung heroes that are tenants, and the surprising benefits of amortization and depreciation. 
In this episode, you’ll also hear: 
The 3 keys to building wealth 
3 key traits of successful business owners   
The pros and cons to entrepreneurship 
Advice for building liquidity into your portfolio 
My personal journey to becoming a real estate investor 
 
Must-listen moments:  
[00:01:32] If you want to keep growing, you must constantly be doing new, hard things that will challenge you. 
[00:04:47] You need to be dialed into the marketing and sales with an offering to the marketplace that delivers tremendous value. The more you can spread the word and deliver on your value proposition, the more buyers will find their way to you. 
[00:08:35] A good rule of thumb to strive for is to build liquid assets in portfolio wealth equal to one year of income before you start putting money into illiquid assets like real estate and other business opportunities. 
 
If you’re focused on paying less tax and building more wealth so you can live a great life, fill out a short survey at www.vitalstrategies.com/client to explore working together.  
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 www.podcastabundace.com
Research and copywriting by Victoria O'Brien
 
 

012 | How to Optimize Your Investment Portfolio with Kevin Smith

Liquidity, market shifts, and risk return —what do they mean for your investment portfolio? Get the answers today!
On the latest Vital Strategies Podcast episode, host Patrick Lonergan welcomes Kevin Smith, CFA, for a deep dive into building a resilient investment portfolio. Kevin brings his top-tier industry expertise to discuss liquidity, time frames, tax implications, and risk management. The conversation explores the positives and negatives of various investment opportunities, emphasizing the importance of strategic portfolio structuring for favorable outcomes.
Kevin’s wealth of experience provides listeners with a deeper understanding of investment portfolio design and risk considerations. Whether you're a seasoned investor or just starting, this episode offers valuable insights that can positively impact your financial decisions. Don't miss out on this opportunity to enhance your approach to investments.
Key takeaways:
Strategic Portfolio Structuring
Proactive Corrections Navigation
Turning Securities into Cash
Resources:
2024 Planning Resources
Read the Transcript
Submit questions to the podcast
Credits:
Sponsored by Vital Wealth
Music by Cephas
Produced by BrightBell Creative
Research and copywriting by Victoria O'Brien

011 | The Captive Insurance Advantage: How to Own an Insurance Company with Chad Spitzer

Captive insurance is a cutting-edge strategy that could change the way you protect your business.
In this episode, we explore the versatility of captive insurance for asset protection and business security. Discussing its ideal applications; IRS compliance and how captive insurance could lead to substantial savings for your business.
Joining us for this discussion is Level 3 tax expert, Chad Spitzer. Chad specializes in developing captive insurance solutions to safeguard businesses. In today’s episode, Chad provides practical examples and red flags to navigate, making it an essential listen for those seeking advanced strategies to fortify their financial stability.
Key Takeaways:
Ideal candidates and business scenarios for captive insurance.
Practical examples of captive insurance applications.
IRS scrutiny and compliance.
Resources:
2024 Planning Resources
Read the Transcript
Submit questions to the podcast
Credits:
Sponsored by Vital Wealth
Music by Cephas
Produced by BrightBell Creative
Research and copywriting by Victoria O'Brien

010 | Level 3 Tax Planning: Secrets to Tax Optimization and How to be Compliant with the IRS

Considering advanced tax planning but unsure about the benefits and pitfalls? We've got the answers you need.
In this episode, host Patrick Lonergan, navigates the complexities of Level 3 tax strategies, where creativity meets a fair amount of risk. While these strategies undergo close scrutiny from the IRS, we provide insights into how the right approach can ensure compliance and unlock substantial benefits. We take a look into taxes from the government's perspective, offering a deeper understanding of compliancy, and pack the episode with real-world examples and essential considerations for a proper setup. 
Join us, as we explore Level 3 Tax Planning, providing a roadmap for tax optimization while staying compliant with the IRS. Whether you're a seasoned entrepreneur or an individual looking to enhance your financial tactics, this discussion is packed with actionable strategies that can transform your approach to tax planning.
Key Takeaways:
Unpacking Level 3 Strategies
IRS Compliance Insights
Benefits vs. Risks
Resources:
2024 Planning Resources
Read the Transcript
Submit questions to the podcast
Credits:
Sponsored by Vital Wealth
Music by Cephas
Produced by BrightBell Creative
Research and copywriting by Victoria O'Brien

009 | How to Maximize Value When You Sell Your Businesses with David Barnett

When planning to sell your business, having a strategic exit plan in place is crucial to ensure a successful transition.
Join podcast host Patrick Lonergan along with business exit-plan expert David Barnett as they guide you through the process of buying and selling businesses.
With over 25 years of experience, David shares unique insights to help entrepreneurs navigate the complexities of selling their businesses.
This episode explores the details of typical exit strategies with real-world examples and practical tips.
You’ll discover the art of structuring a deal that benefits both sellers and buyers, along with advice on post-closing payments for a seamless transition.
Key Takeaways:
Strategic Deal Structuring for Mutual Benefit
Avoiding Common Pitfalls
Transition Planning
Tune in now to strategize your business exit and set the stage for future success!
Resources:
David C Barnett
2024 Planning Resources
Read the Transcript
Submit questions to the podcast
Credits:
Sponsored by Vital Wealth
Music by Cephas
Produced by BrightBell Creative
Research and copywriting by Victoria O'Brien
 
 

008 | Planning for Success: A Roadmap to Your Best Year Yet

Let’s make 2024 your best year yet!
In this episode, podcast host Patrick Lonergan digs into key strategies to ensure you are set on course for success in the new year.
Learn the importance of working on the business, not just in it, developing a long-term success strategy, identifying limiting beliefs, setting goals, establishing primary objectives, and crafting a compelling vision.
Packed with resources and tools, this episode provides a roadmap for listeners to navigate towards their most successful year.
Key takeaways:
Develop a robust strategy for long-term success
Set clear and achievable goals for personal and professional growth
Access a wealth of resources and tools to support your journey
Resources:
2024 Planning Resources
Read the Transcript
Submit questions to the podcast
Credits:
Sponsored by Vital Wealth
Music by Cephas
Produced by BrightBell Creative
Research and copywriting by Victoria O'Brien