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  • Ep020: Tax Efficient Investing with Vince Nelson and ARNO Wealth

    Ep020: Tax Efficient Investing with Vince Nelson and ARNO Wealth
    2024/06/11
    On this edition of the HABU Accelerator Podcast, I sit down with Vince Nelson of Arno Wealth to discuss tax-efficient investing strategies. Vince introduces the Wildlife Fund, an innovative opportunity combining conservation impact with potential tax write-offs. We explore the importance of personalized, tailored solutions for clients when crafting investment strategies. From 401k profit sharing to managing large investments, his steps emphasize a cohesive, proactive approach. Vince underscores treating offerings as customized for clients rather than one-size-fits-all. This episode offers practical advice on mitigating taxes through high-touch client care, strategic planning for high-net-worth individuals, and onboarding processes. SHOW HIGHLIGHTS Vince Nelson, the managing partner of Arno Wealth, introduces the Wildlife Fund, which combines conservation efforts with potential tax write-offs.We discuss the importance of personalized client care and creating tailored investment strategies that align with individual risk tolerance and goals.The role of managing partners in coordinating tax mitigation strategies with CPAs is emphasized, highlighting the need for a collaborative approach.We cover the necessity of bringing together various professionals to create a comprehensive tax plan that leaves no detail overlooked.Vince explains the onboarding process for clients, underlining the importance of early engagement and a proactive stance in managing tax strategies.Investment opportunities should be viewed as bespoke solutions tailored to clients' needs rather than as one-size-fits-all products.The Wildlife Fund is highlighted for its role in conservation and providing tax benefits, serving as an example of a unique investment opportunity.Vince outlines various tax mitigation strategies and investments, such as 401k profit sharing plans, defined benefit plans, and even investments in jets for large-scale investors.We delve into the complexities of managing high-net-worth individuals and the proactive measures necessary for their strategic financial planning.The importance of CPAs having a trusted wealth management partner like Arno Wealth is underscored, as they provide strategic and customized solutions for clients. LINKSShow NotesAbout Arno Wealth GUESTS Vince NelsonAbout Vince TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Jeff: Well, hello again everybody. This is Jeff Pawlow and I'm the president of the Engineered Advisory Family of Companies and your host for the Advisory Accelerator podcast, a show that works to help CPAs become more advisory-minded in their individual practices. On today's show, I'm happy to welcome back our friend, Vince Nelson, who is the managing partner of Arno Wealth, who's going to help us navigate the incredibly complex world of tax-efficient investing as CPAs. I'm sure that you've got clients that are high net worth individuals or maybe have had a liquidity event and they're turning to you for advice in the areas of how to mitigate some of the tax related to those issues. So I'm really looking forward to today's conversation. Vince, welcome to the Advisory Accelerator Podcast. Vince: Well, jeff. Thank you so much. It's an honor to be with you. Jeff: You know I'm excited to talk with you because your presentation had such an impact at the Haboo Conference last year and for those who are listening that weren't at the conference, Vince introduced one of the products that they have that's called the Wildlife Fund, and I was just fascinated about how a program like that could allow an investor to kind of do good from a society standpoint but also help mitigate some of the taxes involved with a liquidity event that maybe they've had or just perhaps they're high net worth individuals. But it was fascinating to see how that particular product was developed and came together. But then I was even more impressed with you, kind of saying like hey, if it fits it's great and we can talk about it. But this doesn't necessarily. It's not one stop shopping where we've got a single solution we're trying to apply across all of our clients. And then you went on to talk a little bit about all the different things that are available through Arno Wealth. So as we jump in today, let's speak to those CPAs that perhaps don't have a wealth management practice or a defined wealth management partner a defined wealth management partner and at the same time have clients that are turning to them for this type of advice and are looking to do something other than just refer it to Merrill Lynch or Edward Jones or something like that. So, Vince, let's start out. Recap for me just all the cool things that make up the Wildlife Fund. Vince: Yeah, and before I do that, jeff apologies, but housekeeping rules that our compliance department requires me say just a couple of things that are very boring, but I'll say them quickly so we can get them out of the way that basically, our ...
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    27 分
  • Ep019: Payroll and HR Solutions via Guhroo

    Ep019: Payroll and HR Solutions via Guhroo
    2024/05/15
    On this edition of the HABU Accelerator Podcast, I welcomed back CEO Matt Vaadi of Guhroo to discuss the ins and outs of HR, payroll, and benefits management and its relevance to CPA advisory roles. Matt shared how Guhroo differentiates itself from conventional call centers through personalized service and a mission-driven approach. He detailed Guhroo's commitment to empowering local communities through efficient yet boutique-style support solutions tailored for small businesses. For advisors seeking to elevate client value, this discussion illuminated strategic partnerships that strengthen services, like Guhroo's ability to add capabilities as needed consistently. Looking ahead to an upcoming meeting, I look forward to our ongoing collaboration and innovation in support of mutual success. SHOW HIGHLIGHTS Matt Vaadi, CEO of Guhroo, joins the Advisory Accelerator podcast to discuss HR, payroll, and benefits management in CPA advisory roles.We explore Guhroo's personalized service model and its divergence from the traditional call center approach, focusing on a mission-driven strategy that includes contributions to nonprofits.Guhroo targets small businesses, aiming to provide a boutique-style service experience while maintaining the scalability learned from larger corporations.The conversation includes the evolution of white label payroll platforms, highlighting the flexibility these platforms offer CPAs in managing client relations.We discuss the transition from basic online payroll options to comprehensive Professional Employer Organization (PEO) solutions and their scalability for growing businesses.The importance of strategic partnerships for CPAs is emphasized, particularly in the realm of payroll services, to consistently add value to client services.Matt recounts his transition from working at ADP to founding Guhroo and the motivations behind creating a more integrated community-focused company.Options for CPA firms are detailed, including referral partnerships, reseller programs, and full-service white labeling using Guhroo's platform.We highlight Guhroo's strategy of providing valuable resources, like free HR templates, to establish trust and initiate potential client relationships.Anticipation for an upcoming meeting in Dallas is mentioned, signifying the continued collaboration and innovation between the podcast host's company and Guhroo. LINKSShow NotesAbout Guhroo GUESTS Matt VaadiAbout Matt TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Jeff: Well, hello again everybody. This is Jeff Pawlow, and I am the president of the Engineered Advisory Family of Companies and your host for the Advisory Accelerator podcast, a show that works to help CPAs become more advisory-minded in their practices. On today's show, I'm happy to welcome back our friend, Matt Vaadi. He is the founder and CEO of Guhroo and he's gonna help us navigate the incredibly complex world of HR, and he's going to help us navigate the incredibly complex world of HR, payroll and benefits as CPAs. I know that you've had clients who have turned to you for advice in this area, and so I'm really looking forward to today's conversation. Matt, welcome to the Advisory Accelerator Podcast. Thanks for having me, Jeff. I'm excited to be here, you bet, and thanks for all the work you're doing for us directly, full disclosure.Guhroo is our payroll provider and has done a wonderful job for us, so we're able to provide that testimonial without reservation. And I think the thing that I'm most impressed with is, matt, you've got a little bit different model. You're not the block and tackle mainline payroll service provider. Maybe talk a little bit about your vision for guhroo and what makes it so special. Matt: Yeah, we really try to focus on, you know, if you go back to the beginning of where this thing started. So I'm a former ADP guy. I was there for many years and one day made a call up to corporate and was asking for some money to donate to a local nonprofit so we could get involved in a cause they were having. They were having a 5K. We actually wanted to just sponsor it. It wasn't even a donation, so it was hey, we're going to get our logo on the back of the T-shirt. The team's all going to go out and be a part of the 5K. It's going to be a team building opportunity. It's going to be a team building opportunity. It's only a few hundred bucks but, you know, be a great way to get more integrated into the community and show them we're not just a big brand, that's not part of the community. And they said you know what, matt, we just can't get involved at the local level. And you know those words ring through. I still hear them clear as day today. I'll never forget that phone call because it's really what set us down this path of hey. Not only are we looking for a way to provide a better mousetrap, easier to use software for small businesses, better support, better technology, all those things. We also want ...
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    22 分
  • Ep018: Exploring the Optimized Gift Trust

    Ep018: Exploring the Optimized Gift Trust
    2024/04/12
    On this edition of the HABU Accelerator Podcast, we sit down with Jonathon Morrison who provides knowledge on navigating the complex landscape of estate and gift tax planning as it relates to current events and forecasted changes. Jonathon guides us through ongoing tax law transitions and characteristics of those most impacted. We conclude by exploring synergies within the Optimized Gift Trust that advance traditional concepts through additional protective layers. Clarity is brought to risks of less experienced advisors for high net worth clients. Looking ahead, our HABU conference promises deeper dialogue on these sophisticated techniques. SHOW HIGHLIGHTS Jonathon Morrison, a senior partner at Fraser, Ryan, Goldberg, and Arnold, joins me to demystify the intricacies of estate and gift tax planning in anticipation of forthcoming changes.We delve into the urgency to capitalize on current generous exemptions that may decrease due to the scheduled sunset of the 2017 Tax Act by 2026.The Optimize Gift Trust is introduced as an innovative estate planning tool that offers a solid defense against IRS challenges and has been well-received by CPAs and clients.Jonathon explains the potential legislative changes, including the Build Back Better Bill, and the importance of grandfathering clauses in protecting existing estate plans.We highlight the need for rapid execution of estate plans in response to possible reductions in gift tax exemptions and the impact of rising interest rates.The discussion outlines the ideal client for these advanced estate planning techniques—individuals or couples with a net worth starting around $10 million.He unravels the synergy of the Optimized Gift Trust, combining various IRS-approved mechanisms to maximize a client's access and control while providing creditor protection and estate tax exemptions.Emphasizing the need for expertise in high-net-worth estate planning, we discuss the risks of working with less experienced attorneys.Jonathon shares his personalized approach to trust planning, including engaging with CPA firms, utilizing dynamic financial models, and the advantages of a flat fee structure for legal services.We invite listeners to join us at the upcoming HABU conference for in-depth discussions on these sophisticated estate planning techniques. LINKSShow NotesAbout Optimized Gift Trust GUESTS Jonathon MorrisonAbout Jonathon TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Jeff: On this edition of the Advisory Accelerator podcast, we welcome back our friend, Jonathon Morrison, senior partner at Fraser, Ryan, Goldberg and Arnold, who's going to help us navigate the incredibly complex world of estate and gift tax and discuss the optimized gift trust and how his firm partners with CPAs to help their clients optimize their estate plans. Take a listen to learn more about what it takes to accelerate your firm's advisory practice. Well, hello again everybody. This is Jeff Palow, and I am the president of the Engineered Advisory family of companies and your host for the Advisory Accelerator podcast, a show that works to help CPAs become more advisory-minded in their practices. On today's show, I'm happy to welcome back our friend, Jonathon Morrison, who is a senior partner at Fraser, Ryan, Goldberg and Arnold, and he's going to help us continue to navigate the incredibly complex world of estate and gift tax planning. As CPAs, I'm sure you've had clients who have turned to you for advice in this incredibly complex area, so I'm looking forward to today's conversation. Jonathon, welcome back to the Advisory Accelerator podcast. Jonathon: Thanks, Jeff, I appreciate you having me. Yeah, today we're going to be talking about a really interesting solve, a turnkey solution for estate and gifts tax changes that are going to be occurring in about a year and a half, and so it's come a long way on this vehicle, but I think it's going to be a real help for a lot of your listeners. Jeff: Now the date that you just mentioned. There is the sunsetting of the ‘17 Tax Act, correct I think that expires January 1st of 2026. Jonathon: Yeah, that's really the kind of the urgency that a lot of the CPAs, a lot of the listeners, are going to be focusing on. We've gone through this a couple of times in 2012 and then in ‘20 and ‘21. And now again in ‘26, where it's use it or lose it. You've got these huge exemptions that you can use right now, at least temporarily, in terms of how much you can gift to your children during life or at death. Right now it's 13, about 13 and a half for a single person and 27 million dollars for a married couple. Those exemption amounts just 20 years ago were like a million dollars. George W took it up to three and a half or seven for a married couple. Obama took it to five and seven for a married couple. Obama took it to five and 10 for a married couple. Trump doubled it to 20 for a married couple. With inflation, we're all the way ...
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    36 分
  • Ep017: The Evolving Cybersecurity Landscape

    Ep017: The Evolving Cybersecurity Landscape
    2023/11/16
    On this edition of the Advisory Accelerator Podcast, I connected with Shawn Long, the CEO at ViLogics, to discuss how his firm partners with CPAs to help their clients better manage their cybersecurity infrastructure. The threat is real, and there's quite a bit of accounting firms can do to help their clients mitigate this incredible risk. So take a listen and learn more about what it takes to accelerate your firm's advisory potential. SHOW HIGHLIGHTS Shawn Long, CEO of ViLogics, shares his company's approach to providing businesses with a turnkey solution for protection against these threats.We explore the landscape of cyber threats and discuss how AI and automated hacking techniques have made it easier for cyber criminals to target businesses of all sizes. We delve into the importance of multiple layers of protection in cybersecurity, using the metaphor of a fortress with firewalls, VPNs, and endpoint protection as various layers of defense. We also discuss the role of social engineering in cyber attacks, using the MGM Las Vegas attack as an example.We navigate through the complexities of assessing compliance and risk requirements, a crucial first step in understanding the scope of cyber threats.We shift our discussion to the economics of cybersecurity, examining endpoint security pricing and packages and the shared service model as a cost-effective approach to high-level security.We tackle the challenges of recruiting and retaining cybersecurity experts, highlighting the importance of having a team of specialists available 24/7 to monitor and respond to threats.Sean introduces us to ViLogics three packages - TSO Light, TSO Standard, and TSO Enhanced - which are designed to meet a variety of needs. He explains how the pricing model works and how it offers flexibility for businesses of all sizes.We emphasize the importance of cybersecurity and monthly governance in maintaining a secure digital environment. We also highlight how ViLogics assists organizations in getting onboarded and safeguarded from cyber threats.We discuss how cyber criminals are able to target unsuspecting organizations, regardless of size, and the serious repercussions of their malicious actions.We delve into the steps that organizations can take to protect themselves from cyber threats, with Sean providing insights on how to create a fortress of protection through different layers of security.We conclude the episode by exploring how the pricing models associated with cybersecurity services can work for businesses of different sizes, and the process of getting in touch with a sales representative to learn more about ViLogics' services. LINKSShow NotesAbout viLogics GUESTS Shawn LongAbout Shawn TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Jeff: Well, hello again everybody. This is Jeff Pawlow, and I am the president of the engineered advisory family of companies and your host for the advisory accelerator podcast, a show that works to help CPAs become more advisory minded in their practices. On today's show, I am happy to welcome Sean Long. He is the CEO at ViLogics, who will help us navigate the incredibly complex world of cybersecurity and how technological threats are becoming more prevalent and worrisome. As a CPA, I'm sure that you've had clients who have turned to you for advice in this area, so I'm really looking forward to the conversation today. Sean, welcome to the advisory accelerator podcast. Shawn: Oh, thank you very much, Jeff, and I'm looking forward to this conversation. Jeff: You know it's interesting how often I am hearing CPAs talk about how often they are hearing their clients approach them about some help in the cybersecurity area. So maybe we can start today with you giving a little bit of background of your firm, what the need was in the market that you sought to fill, and then we can get into some of the nuts and bolts of what's actually going on in the threat environment out there today. Shawn: Oh yeah, sure. So originally I started back in 1996. We actually first got into the IT business being a actual healthcare claim processing at a clearinghouse. So back in the early days we're still using modems and dollops and all that stuff that some people might not even be familiar with today. Security wasn't really a big thing. Right, it was a password because there wasn't any internet, there wasn't any true exposure to what we have today. And so having that understanding of healthcare and how, even before HIPAA was around and the security around it, that kind of how we, how I, developed this into ViLogics, as always being a kind of a security mindset first approach for anything that we do related to IT, and it really is a mindset, isn't it? Jeff: And I think that's evolved, where I think in the past it was like, hey, you hire somebody to kind of manage this and you forget about it, and the complexity of whether it's a phishing scam or some type of active hack or anything ...
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    28 分
  • Ep016: Managing the Client Revenue Cycle with Aiwyn

    Ep016: Managing the Client Revenue Cycle with Aiwyn
    2023/11/09
    On this episode of the Advisory Accelerator Podcast, I connect with Pat Morell, the Chief Revenue Officer at Aiwyn, to discuss how his firm partners with CPA firms to help better manage their client revenue cycle. I learned how Aiwyn's system taps into legacy management platforms while innovating with solutions like engagement letters. Pat elaborates on drastically reducing administrative tasks and increasing billable hours. With nearly 80 customers and strong reviews, Aiwyn is achieving success. However, what was most reassuring was Pat's emphasis on data security and reliable service. Take a listen to learn more about what it takes to accelerate your firm's advisory practice. SHOW HIGHLIGHTS Pat Morell, the co-founder and chief revenue officer of Aiwyn, joins us to discuss how their system is revolutionizing the CPA revenue process through automation, liberating CPAs from time-consuming administrative tasks.Aiwyn’s system integrates with legacy practice management systems to automate tasks from billing to collections, to payments and account management, which enables CPA firms to focus more on client service.We discuss the benefits of Aiwyn's system, such as increasing billable hours and improving clients' revenue. Pat shares that the pricing model is accessible for firms with as little as $2 million in top line revenue.Pat outlines the challenges firms face when adopting a new system and explains how Aiwyn assists in overcoming these obstacles.We provide an overview of the process of getting started with Aiwyn, which includes an initial Q&A, a demo, and understanding the pricing structure.Pat shares the success story of Aiwyn, which currently serves almost 80 customers and has a high net promoter score.We discuss the benefits of Aiwyn's software, its security features, and how it can help firms of all sizes, emphasizing that it can free up staff from time-consuming billing tasks.Pat explains the details of Aiwyn's pricing model, which is designed to help firms grow. The pricing model is based on the firm's top line revenue and scales as the firm grows.We discuss how Aiwyn's software is constantly updated and improved, with security features and uptime SLAs in place to ensure reliable and secure operation.We conclude by expressing gratitude to Pat for his enlightening insights and to our listeners for tuning in. We encourage interested firms to reach out to Pat for more information on Aiwyn. LINKSShow NotesAbout Aiwyn GUESTS Pat MorellAbout Pat TRANSCRIPT (AI transcript provided as supporting material and may contain errors) Jeff: Well, hello again everybody. This is Jeff Pawlow, and I am the president of the engineered advisory family of companies and your host for the advisory accelerator podcast, a show that works to help CPAs become more advisory minded in their practices. On today's episode, I'm happy to welcome Pat Morell, the chief revenue officer and co-finder of Aiwyn, who will help us explore how their system really allows CPAs to better advise their client in the areas of revenue process automation, and that includes billing, payment processing, collections and overall account management. So we've got a lot to cover today, Pat, welcome to the advisory accelerator podcast. Pat: Jeff, thanks for having me Really excited to be here. Jeff: You bet, and full disclosure. Not only am I interviewing Pat today, but we're also interviewing Pat and his company to be part of a solution at engineered advisory. So we're looking forward to working with you as a client and appreciate everything that you've done with us to figure out what solution is going to best meet our needs. So I'm excited to share some of what we've learned with our listeners as we go through the podcast, and one of the things that I thought was interesting on your website is you've done a nice job of kind of historically calling out what the revenue process used to be. You had pre 1980, where it's almost a hundred percent manual processes, and then we got spreadsheets in the 80s and more internet enabled tools in the 2000s, and that brings us up to today. And so talk a little bit about what I win does as a product at a high level, and then we can dig down a little bit deeper from there. Pat: Sure, and I'd love that you put this on a historical continuum, because I think we, before starting the business, were operators on that continuum and actually the core use case that drove us to start I win is we had a not so great billing experience as clients of a very big firm, and it's set us off on this journey to figure out how we can improve the client experience, specifically through the lens of the billing and collections experience. So the high level on I win is we work right now with about 80 of the world's largest CPA firms and we are helping them internally automate their billing, collections and payment processes. We quite literally built software that plugs into some of the legacy practice management systems that a lot of ...
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    28 分
  • Ep015: Overcoming Your Firm's Staffing Challenges Once and For All

    Ep015: Overcoming Your Firm's Staffing Challenges Once and For All
    2023/06/13
    On this edition of the Advisory Accelerator Podcast, Join me as I speak with Nick Sinclair, founder of TOA Global. Listen in as we discuss how TOA Global's unique model builds long-term relationships between their placements and the client's firm. It creates a seamless integration that feels like they are just down a long hallway. Nick touches on the benefits of outsourcing for cost and talent arbitrage and the importance of effective communication in building successful remote teams. Lastly, we discuss how the pandemic has changed how many firms view global staffing solutions. SHOW HIGHLIGHTS
    • TOA Global provides a global staffing solution through the Philippines and South Africa to help accounting firms find and retain top talent.
    • Their model is different from traditional outsourcing, as they help firms build a team that becomes part of the client's firm.
    • The COVID-19 pandemic has accelerated the acceptance of building global teams and remote working.
    • Language barriers are minimal with talent from the Philippines and South Africa, making communication easier.
    • TOA Global's staff works the same hours as their client firms, making collaboration seamless.
    • Outsourcing provides cost arbitrage, allowing firms to pay above-market salaries to local teams and retain the best talent.
    • Meaningful work improves employee attraction and retention rates.
    • Security measures taken in TOA Global's office environment include employee privacy, IT department investment, and bank-level security systems.
    • Employees work in the client's IT environment, eliminating data security risks.
    • TOA Global focuses on people as the biggest asset of a service-based business.
    LINKSShow NotesAbout TOA Global
    GUESTS Nick Sinclair
    About Nick Special Guest: Nick Sinclair.
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    31 分
  • Ep014: Tax-Efficient Jet Ownership through Charter Aviation Programs

    Ep014: Tax-Efficient Jet Ownership through Charter Aviation Programs
    2023/05/23
    On this edition of the Advisory Accelerator Podcast, we had the pleasure of speaking with Quinn Ricker, CEO of Jet Access Aviation. Quinn provided an in-depth look at how to use the charter program to reduce the cost of ownership and maximize the tax benefits of private plane ownership. He explains the importance of exercising the asset, understanding the pedigree of the plane, and leveraging the upfront tax benefit of private jet ownership. In addition, Quinn touched on the importance of safety in the private jet industry and how it can lead to a great customer experience. We discussed his insights on the world of private aviation and how it can benefit both businesses and individuals. Listen in as Quinn explains the importance of having a flight school to ensure a steady pipeline of highly trained, skilled pilots, the importance of having an FBO to store planes, as well as the need for proper maintenance and sales and acquisition services. LINKSShow NotesAbout Jet Access
    GUESTS Quinn Ricker
    About Quinn Special Guest: Quinn Ricker.
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    37 分
  • Ep013: Conservation Easements and Land Preservation Strategies

    Ep013: Conservation Easements and Land Preservation Strategies
    2023/05/09
    On today's episode of The Advisory Accelerator show, we're talking to Murang Pak of InVia Capital, who will help us navigate the complex world of conservation easements and how to identify when using one might be appropriate for your clients. To make sure that nothing slips through the cracks when it comes to offering important clients proactive estate planning and tax strategies, an increasing number of firms are collaborating with members of the Advisory Accelerator. With the incredible complexity of today's tax code, no individual CPA can ever expect to have all the answers. Learn more about what it takes to advance the advising practice at your company by listening to this. LINKSShow NotesAbout Invia Capital
    GUESTS Murang Pak
    About Murang Special Guest: Murang Pak.
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    29 分