tax deduction

Check out Part 3B of my 3-part podcast series with dental CPA and CFP John Vento! In this episode, titled “Tax-Smart Retirement Savings Strategies,” John will cover:

o   Reasons why you should want to set up a retirement plan for your practice and how it can help with employee recruitment and retention.

o   The SECURE Act 2.0, including when it was passed into law, when it becomes effective, and how it will impact retirement plan contributions for you and your employees.

o   The recent expansion of the ability to make Roth contributions.

o   Significant tax credits that are now available for making contributions to your retirement plan and the retirement plan of your employees, including:

§  The Startup Tax Credit which allows you to legally double dip by not only deducting the expenses of training your team about their retirement savings options, but also receiving a tax credit for those same expenses!

§   Employer Contribution Tax Credit which allows you to receive a tax credit to subsidize you for putting money into your employee’s retirement plan!  Basically, the government is paying you to contribute to your employee's retirement!

§  The Auto-Enrollment Tax Credit which forces your employees to opt out of contributions to their retirement instead of opting in, which is how it has traditionally been set up.

LINKS:
• Part 1 (Important Tax Information for Dentists):  https://www.youtube.com/watch?v=1-EXO-IlQgs&ab_channel=DeLukeOrthodonticCoaching
• Part 2a (Taxes & Practice Ownership - Part A): https://www.youtube.com/watch?v=tyQTdCy2DxA&t=6s&ab_channel=DeLukeOrthodonticCoaching
• Part 2b (Taxes & Practice Ownership - Part B): https://www.youtube.com/watch?v=Tt0yneFair0&t=990s&ab_channel=DeLukeOrthodonticCoaching
• Part 3a (Tax-Smart Retirement Savings Strategies - Part A): https://youtu.be/QFB2DJksISg
• Point X Calculator (https://www.ventotaxandwealth.com/resource-center/retirement/saving-for-retirement)
• To purchase John’s Book:  https://www.ventotaxandwealth.com/buy-the-book
• You can find more information on John and his firm, Vento Tax and Wealth Management, at www.VentoTaxAndWealth.com.

Mark and Mat provide a comprehensive breakdown of what NOT to do. From common mistakes to lesser-known pitfalls, we've got you covered! 

Join us as we unravel the confusing bits and provide tips to safeguard your retirement funds.

This episode reveals the top ten mistakes you should avoid when managing your self-directed IRA. From misunderstandings about prohibited transactions to tricky tax implications, Mark and Mat guide you through the dos and don'ts of self-directed retirement investing.

Learn how to take control of your retirement - https://directedira.com/

Self-directed IRA Podcast - https://matsorensen.com/podcast/

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Blog & Articles - https://matsorensen.com/blog/


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Is the home office deduction a cause for concern with the IRS? 

Absolutely not, and I’m here to clear the air on that topic in this episode of the podcast. 

Join me as we dive into the specifics of how you can fully leverage your home office deduction, whether you have an additional work location, a warehouse, or another office. 

You can indeed work from the comfort of your home, comply with the IRS regulations for home office tax deductions, and secure a valuable write-off on your taxes.

Throughout this episode, I will walk you through the exact strategy to accomplish this, ensuring you have all the knowledge and tools at your disposal to maximize your savings. 

If you've ever questioned the legitimacy of home office deductions or wondered how you can make the most of them, this is the episode you won't want to miss.

Resources from episode: 

🆓 Click here to access Home Office Tax Deduction Resources:

🤩 If you are looking for a really easy to use payroll software, I personally use and recommend to my clients Gusto Payroll Software - 
P.S. When you sign up for Gusto, you get a $100 visa gift card - Click here to sign up and redeem 🤑

I've put together this FREE resource for you:

7 Write-Offs Every S-Corporation Business Owner MUST Know
🆓 Download FREE PDF here: https://bit.ly/podcast7writeoffs

Ready to start saving money on your taxes?
☎️ Schedule your FREE Tax Advisory Session: www.TaxPlanningCall.com

🤩 If you are looking for easy-to-use payroll software, I personally use and recommend to my clients Gusto Payroll Software - https://gusto.com/r/boris466 P.S. When you sign up for Gusto, you get a $100 Visa gift card

*Disclaimer This material & presentation content is for informational and educational purposes only. This material and presentation content is designed to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice related to individual situations. Because each individual’s legal, tax, and financial situation is different, specific advice should be tailored to the particular circumstances. For this reason, you are a...

• The impact of going through challenging situations
• How investing in diversified RE assets can build wealth faster
• Key advice on becoming wiser with your finances as an investor
• A strategy for professionals to create wealth while reducing income tax
• Why you should educate yourself first before investing

Resources/Links Mentioned In This Episode

• Rich Dad Poor Dad by Robert Kiyosaki | Mass Market Paperback and Kindle
•  SAP
• REPVUE

Do you want to reduce your tax bill and claim more of your hard-earned W-2 income? Go to https://www.firstgencp.com/paylesstax to learn an investment strategy that will help you put your money back in your pocket!

About Billy Keels

Billy is a Strategic Advisor at First Generation Capital Partners (FGCP™), host of the Going Long Podcast with Billy Keels, and Founder of KeePon Cashflow. He is an international real estate entrepreneur, problem-solver, author, coach, public speaker, mentor, and a former high-performing corporate executive. Billy grew up in Columbus, Ohio but now resides in Barcelona, Spain, and has traveled to over 50 countries. Through FGCP™, Billy helps high-income professionals and first-generation investors become accredited investors and achieve financial freedom by passively investing cash-flowing and tax-efficient tangible assets while keeping Uncle Sam out of their pockets.

Connect with Billy

• Website: First Generation Capital Partners
• Podcast: Going Long Podcast with Billy Keels Apple | Spotify
• LinkedIn: Billy Keels 

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Scott and Jeff are joined by Brian Mittendorf from THE Ohio State University to discuss not-for-profit entities. We discuss the recent creation of Horns with Heart, a not-for-profit entity recently created to pursue charitable causes using the Name, Image, and Likeness (NIL) of offensive lineman for the University of Texas football team. If this arrangement proves to be legitimate, not-for-profit entities could proliferate as a way to facilitate NIL deals and pay college football players, while allowing donors to make tax deductible contributions to their favorite football players.