About the Guest: Caden Gunnell
Caden is a Junior Partner at Strategic Associates, where he specializes in proactive tax planning and solution implementation for high-income earners, real estate investors, and successful entrepreneurs. With a background in business strategies and tax planning, Caden has been instrumental in connecting clients with innovative tax-saving solutions, such as leveraged charitable giving. His expertise ensures clients are well-positioned to maximize their tax benefits while contributing to worthy causes.

Episode Summary:

Welcome to episode 101 of the Teaching TaxFlow podcast where hosts John and Chris dive deep into the world of leveraged charitable giving with expert guest Caden Gunnell from Strategic Associates. This episode uncovers how leveraging charitable donations can significantly enhance tax deductions for high-income earners, making it a must-listen for anyone looking to optimize their tax strategies.

Leveraged charitable giving is a powerful tool for individuals, especially those with high W-2 incomes, to increase their tax efficiency and charitable impact.

Throughout the episode, Caden explains how individuals can turn a simple donation into a multi-fold tax deduction through strategic planning. Chris and Caden delve into the mechanics of this tax strategy, its benefits, the documentation required, and the types of clients who can benefit most from it. They emphasize the importance of having substantiation to avoid IRS scrutiny and explore how this strategy can fit into a broader tax optimization plan.

Key Takeaways:

• Leveraged Charitable Giving: This strategy involves using a certain amount of cash to create a larger donation value, effectively multiplying the tax deduction.
• Documentation and Compliance: Proper substantiation through official appraisals and gift receipts is critical to ensure compliance and maximize tax benefits.
• Eligibility and Benefits: Best suited for individuals with taxable incomes of $250,000 or more, this strategy is highly beneficial for those with a charitable inclination.
• Yearly Flexibility: Unlike some long-term commitments, leveraged charitable giving can be assessed and implemented on a year-by-year basis.
• Stacking Strategies: Leveraged charitable giving can be combined with other tax strategies to further reduce taxable income, especially for business owners.

Notable Quotes:

1. "We're taking a certain dollar amount and creating a one to three, one to four, and sometimes as high as one to five donation." — Caden Gunnell
2. "This isn't being done just to help someone save money in taxes. Anytime we're doing anything to save money in taxes, if that's our only goal, we're probably not doing the right things." — Caden Gunnell
3. "Your tax insurance return shouldn't be a sprint; it should be a half marathon and something you think about all year round." — Chris Picciurro
4. "The IR's is getting extremely more sophisticated and they are using AI and they are using technology to find anomalies." — Chris Picciurro

Episode Sponsor:
Strategic Associates, LLC
Roger Roundy
www.linkedin.com/in/roger-roundy-86887b23

Hear more about how you can leverage your charitable donations to maximize your tax deductions by tuning into the full episode. Stay tuned for more insightful tips and strategies on the Teaching TaxFlow podcast!

• (00:03) - Leveraged Charitable Giving and Tax Strategies for high-earners
• (06:36) - Leveraging Charitable Giving for Maximized Tax Deductions
• (13:50) - Understanding Tax Strategies and Their Impact on Individuals
• (16:42) - Leveraged Charitable Giving Strategies for High-Income Earners
• (24:37) - Teaching Tax Flow Podcast: Insights and Resources

Welcome to the 100th episode of the Teaching Tax Flow podcast!

(we've gone visual - watch this full episode on our YouTube channel)

In this milestone episode, hosts John Tripolsky and Chris Picciurro celebrate their journey from humble beginnings to becoming a top-tier resource in tax planning and strategy. They reflect on the podcast's inception—starting with a microphone perched on a pizza box—and the evolution of their content, community, and reach. The hosts express gratitude to their loyal listeners, engaging guests, and supportive sponsors, while also unveiling exciting changes ahead, including YouTube integration and expanded free educational resources.

As the podcast grew from its initial focus on real estate market spotlights to a broader tax planning scope, John and Chris discuss key milestones and listener engagement. They underscore the importance of building a community to drive content and share real-world applications of tax strategies. Looking ahead, the hosts emphasize their commitment to delivering premium, accessible tax education for individuals and professionals alike, solidifying their standing as the voice of tax planning.

Key Takeaways:

• Origin Story: The podcast began with a microphone clipped to a pizza box, highlighting the hosts' DIY spirit and commitment to just getting started.
• Community-Driven Content: Listener feedback and community engagement on platforms like the Defeating Taxes Facebook group have been crucial in shaping podcast topics.
• Educational Pivot: The podcast content has shifted from a specific real estate focus to a broader, holistic approach to tax planning and strategy.
• YouTube Expansion: All podcast episodes and comprehensive educational content will now be available on YouTube, increasing accessibility and reach.
• Gratitude and Evolution: John and Chris express gratitude towards all guests, listeners, and sponsors, promising continued evolution and more interactive, valuable content.

Notable Quotes:

• "There's never a better time than now." - Chris
• "We are one of the top 10% of podcasts as far as longevity, and that's an accomplishment right there." - John
• "Our community drives our content, and that community has different pillars." - Chris
• "Teaching Tax Flow is not just a podcast; it's the voice of tax planning." - John
• "It's amazing how a community can sharpen itself and drive the direction of a podcast." - Chris

Resources:

• Teaching Tax Flow YouTube Channel: YouTube
• Defeating Taxes Facebook Group: Facebook
• The Mortgage Shop: Website

Original Music Credits (Intro): Christian Picciurro

Episode Sponsor: The Mortgage Shop

This episode is a testament to the power of community-driven content and the journey from modest beginnings to influential platforms. Join John and Chris as they continue to demystify tax planning and provide practical, enlightening discussions.

Stay tuned for more engaging content and educational resources from the Teaching Tax Flow podcast!

• (00:02) - Celebrating 100 Episodes of Teaching Tax Flow
• (04:16) - The Origin Story of a Podcast Launched on a Pizza Box
• (07:18) - Evolution of a Tax Planning Podcast Driven by Community Engagement
• (12:42) - A Confession from John (he's a fan of...)
• (14:15) - The Evolution of Tax Planning and Podcasting
• (19:09) - The Voice of Tax Planning
• (29:45) - Celebrating Episode 100 with New Changes and Future Plans

About the Guest: Angelina Urquhart
Angelina Urquhart is a compliance expert with Corpnet, a company specializing in business compliance and filing services. With a wealth of knowledge in entity formation and regulatory compliance, Angelina has been instrumental in helping businesses stay compliant with complex state and federal regulations. Her expertise includes navigating the Corporate Transparency Act and beneficial ownership information reporting requirements.

Episode Summary:

In this milestone episode, number 99, Chris Picciurro and John Tripolsky delve into the critical specifics of the Corporate Transparency Act (CTA) and Beneficial Ownership Information Reporting (BOI). Our special guest, Angelina Urquhart from Corpnet, shares her comprehensive insights and explains the new regulatory requirements that affect the majority of business entities.

The Corporate Transparency Act, aimed at curbing financial crimes such as money laundering and terrorism financing, imposes stringent reporting obligations on entities in the United States. Angelina highlights which entities need to comply, what details must be reported, and the profound implications of non-compliance. Throughout the episode, the discussion touches on the practicality of these regulations, the importance of timely filing, and the potential penalties for failure to adhere to the guidelines.

Key Takeaways:

• CTA and BOI Overview: Angelina breaks down the purpose of the Corporate Transparency Act and the Beneficial Ownership Information Reporting requirements.
• Entities Required to File: Most LLCs, corporations, and other registered entities must comply unless specific exemptions apply.
• Critical Deadlines: For new entities created in 2024, there is a 90-day compliance window. Entities formed before 2024 must file by December 31, 2024.
• Penalties for Non-Compliance: Significant civil and criminal penalties exist for failing to meet the reporting requirements.
• Practical Advice: Tips on using passports for ID verification and tracking changes to ensure ongoing compliance.

Notable Quotes:

1. Angelina Urquhart: "The days of you creating an LLC and having it owned by another LLC are still there, but you still have to now indicate who is benefiting from the operations of that entity."
2. Angelina Urquhart: "Something as easy as a driver's license expiring or you move...if you move, there's a filing requirement."
3. Chris Picciurro: "The penalties for not conforming to this are significant."
4. Angelina Urquhart: "This isn't going away, it's a safety belt from financial crimes."

Get started today on being compliant!

1. Visit www.teachingtaxflow.com/entity and hover over "Run a Business" in the header menu
2. Click on "Compliance Service"
3. Select "BOI Reporting"
4. Use the discount code "TTF" at checkout for a 5% discount.

Have more questions on BIO?
Schedule a discussion with our guest, Angelina.
BOOK NOW

Episode Sponsor:
Integrated Investment Group

www.integratedig.com

• (00:04) - Exciting Insights on Accredited Investors and Financial Success
• (02:59) - Understanding the Corporate Transparency Act and Beneficial Ownership Reporting
• (13:02) - Navigating Business Ownership Changes and Compliance Requirements
• (19:09) - The Evolution of Seatbelt Use and Safety Regulations
• (20:32) - Compliance Deadlines and Penalties for New Business Entities
• (23:46) - Navigating Business Compliance and Avoiding Financial Pitfalls