Category: Investments
Capturing Tax Deductions on Money You Are Already Spending (Ep. 3)

Capturing Tax Deductions on Money You Are Already Spending (Ep. 3)

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Tax planning for future income can be a great start to tax savings. But what if you could start tax planning today and save on money you are already spending?

Listen in as Ken New speaks with Ryan Foncannon, MBA, managing partner at S.W.A.N. They explore advanced tax deduction strategies focused on the money you are already spending and how to turn that spending into tax savings. They emphasize collaboration between tax professionals and financial advisors, education for clients, and the potential for significant tax savings

Ken and Ryan discuss: 

  • How can one capture tax deductions on money that is already being spent
  • When can food and travel expenses be utilized for business purposes
  • How do tax deductions differ from tax credits
  • What are some examples of tax credits available for businesses and individuals
  • Have you heard of the Augusta rule? Or the three martini rule? 
  • And more

 

Connect with Ryan K. Foncannon:

Connect with Ken New:

About our Guest: 

Ryan Foncannon is a Managing Partner at S.W.A.N. Virtual Family Office (VFO), a multi-disciplinary firm that provides a family office experience for affluent clients and business owners. With over 14 years of experience in the financial services industry, Ryan has earned the Series 65 and the National Social Security Advisor credentials, as well as the Certified Long-term Care designation. He is also an Advanced Tax Reduction Strategist at Estate Planning Team, where he helps clients implement the Deferred Sales Trust™, a tax-deferral strategy for highly appreciated assets.

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How CPAs Can Transition to Proactive Tax Strategists with Ian Welham (Ep. 2)

How CPAs Can Transition to Proactive Tax Strategists with Ian Welham (Ep. 2)

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Is your CPA practice ready for a transformation? What if you could elevate your role without sacrificing your current income?

Join your host Ken New and  Ian Welham, a Chartered Accountant, once more as they dive into how Certified Public Accountants (CPAs) can transition from tax preparation to proactive tax strategy and financial planning. They stress the importance of understanding clients’ needs, collaborating with financial advisors, and using a team-based model.

Ken and Ian discuss: 

  • Why is collaboration with financial advisors and using a team-based model important
  • What challenges do accounting firms face when transitioning their business model
  • Why should accountants consider partnering with team-based advisors
  • Why CPAs and accounts must consider the needs of their clients when considering growth transitions
  • And more

 

Connect with Ken New:

Connect with Ian Welham:

About our Guest: 

After qualifying as a Chartered Accountant with Ernst & Young, Ian Welham moved out of public practice and became CFO of a Barcelona-based publicly traded company. He also held CEO and COO positions in Hong Kong, The Netherlands, Belgium and the US. His team at HaydenRock works hands-on with CPA firms to maximize their profit potential – adding value, introducing new revenue streams and helping CPAs move into high-value advisory services.

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How CPAs Can Transform Their Practice and Thrive with Ian Welham (Ep.1)

How CPAs Can Transform Their Practice and Thrive with Ian Welham (Ep.1)

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In an era where technology’s rapid advancements are reshaping industries, CPAs find themselves at a pivotal crossroads. They’re not just adapting; they’re racing to transform their practices, focusing keenly on the future needs of their clients. This shift is more than a necessity—it’s a journey into the heart of innovation and relevance, where the only constant is change itself.

In this episode, host Ken New speaks with Ian Welham, a Chartered Accountant renowned for guiding CPA firms toward peak profitability and enhanced client relevance. Welham, also the host of The Accounting Success Podcast, discusses the imperative for CPAs to transition from a compliance-centric approach to a value-oriented business model. Their discussion centers on catering to high-net-worth clients by providing proactive and comprehensive advisory services. Ian emphasizes the significance of deeply grasping client needs through targeted diagnostic questionnaires and the strategic involvement of experts as necessary.

Ian discusses: 

  • The challenges CPAs face in a world dominated by technology
  • The importance of proactive tax planning and developing long-term strategies
  • How the role of accountants is evolving with new planning approaches
  • The need for accountants to recognize the value of advisory services
  • And much more.

 

Connect with Ken New:

Connect with Ian Welham:

About our Guest: 

After qualifying as a Chartered Accountant with Ernst & Young, Ian Welham moved out of public practice and became CFO of a Barcelona-based publicly traded company. He also held CEO and COO positions in Hong Kong, The Netherlands, Belgium and the US. His team at HaydenRock works hands-on with CPA firms to maximize their profit potential – adding value, introducing new revenue streams and helping CPAs move into high-value advisory services.

Securities offered through Center Street Securities, Inc. (CSS), a registered Broker Dealer & member of FINRA & SIPC.  Investment Advisory Services offered through Center Street Advisors (CSA), a SEC registered Investment Advisor.  Pinnacle Financial Wealth Management, CSA and CSS are independent entities.  This is not tax advice.  Please speak with a tax professional for any of your tax questions. 

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Discovering Your Investment Risk Tolerance: Part 2 (Ep.18)

Discovering Your Investment Risk Tolerance: Part 2 (Ep.18)

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Join us for part 2 of “Discovering Your Investment Risk Tolerance” as we delve deeper into how risk appetite shapes investor choices and financial strategies.

In this episode, Ken New discusses the importance of understanding risk tolerance and its impact on investment decisions. He emphasizes the need for open communication between advisors and clients to determine appropriate levels of risk. 

Ken dives into the dynamics of investment: why younger investors often lean towards bolder risks for capital growth, while their older counterparts lean towards safeguarding their assets and ensuring consistent income. As we navigate the investment journey, regularly realigning our strategies with our risk appetite becomes pivotal. 

Ken discusses: 

  • The difference between older and younger investors in terms of risk tolerance, objectives and more
  • The value of regularly reviewing your portfolio & how often you should be reviewing it
  • Some of the conversations you should be regularly having with your advisor about risk tolerance
  • How to adjust your risk tolerance based on your unique financial objectives
  • And more

Resources:

Connect with Ken New:

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Discovering Your Investment Risk Tolerance: Part I (Ep. 17)

Discovering Your Investment Risk Tolerance: Part I (Ep. 17)

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Risk tolerance isn’t merely about your present investments; it shapes your response to market volatility and ensures your portfolio aligns with your specific desires and necessities.

In this episode, Ken New explores the importance of understanding risk tolerance and its impact on investment strategies and portfolio management. He shares how he helps clients identify their risk tolerance and how that understanding impacts investment decisions and portfolio planning. 

Ken discusses: 

  • How to gauge risk tolerance based on past market volatility
  • Different investment strategies based on the three types of risk tolerance; conservative, moderate, and aggressive
  • The importance of regular portfolio reviews to ensure the current portfolio matches the current risk tolerance and goals
  • How diversification can decrease the risks involved in investments
  • And more

 

Resources:

Connect with Ken New:

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Adding International Adventure to Retirement Planning with Karen Bense (Ep.16)

Adding International Adventure to Retirement Planning with Karen Bense (Ep.16)

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Just because you are retired doesn’t mean you can’t have fun. Many retirees want to include international travel in their retirement plans, from cruises to guided tours and more.

In this episode, Ken New speaks with Karen Bense, owner of Air Land and Sea Travel, on how retirees can include adventurous travels in their retirement plans. They explore popular destinations for retirees traveling alone or with friends and family and how retirees can stay safe while traveling.

Karen discusses: 

  • Why retirees look to include travel in their retirement plans
  • How the pandemic caused an increase in family travel plans
  • The current trends in travel, comparing places and types of travel
  • The importance of creating an itinerary when traveling based on the client’s wants and needs
  • And more

 

Connect with Ken New:

Connect with Karen Bense:

About our Guest:

Owner of Air Land and Sea Travel Inc. Has an extensive background in the travel industry. A native of Connecticut, she began her travels as a flight attendant. Her interest in travel continued even after her career as a flight attendant ended.

Karen became a travel consultant when her daughter started school and for the past 23 years has been involved assisting customers with their travel plans. For the last 18 years she has owned Air Land & Sea Travel Agency, Inc.. Along the way she has endeared many clients and forged lifelong friendships with her clients. Her passion is creating a memorable travel experience for all who call, email or walk into the office.

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Creating Secure Retirement Income Through Portfolio Diversification (Ep. 15)

Creating Secure Retirement Income Through Portfolio Diversification (Ep. 15)

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As you enter retirement, your investments become the source of your income. But how can you ensure that your assets will sustain you throughout your retirement?

Join Ken New as he unveils the power of portfolio diversification. In this episode you will gain a profound understanding of why diversity is a crucial element in protecting and maximizing your retirement income. With Ken’s insights and practical strategies at your disposal, learn how to fortify your financial future and ensure a steady cash flow long after your traditional paychecks cease.

Ken discusses: 

  • What is portfolio diversification from a financial perspective
  • How diversification contributes to the wealth preservation of retirees
  • The role of financial advisors in building a diverse portfolio
  • The shifting landscape of real estate investments in retirement
  • And more

 

Connect with Ken New:

 

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The Challenges of Finding and Buying the Right Home with Bill and Val Fillmore (Ep. 14)

The Challenges of Finding and Buying the Right Home with Bill and Val Fillmore (Ep. 14)

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Discovering the perfect home marks merely the initial hurdle on your path to selecting the ideal place to build your life. However, it doesn’t end there. Have you pondered the intricacies of insurance and its financial implications? Is the community you’re eyeing genuinely tailored to meet your unique requirements? Moreover, have you considered the financial impact of those who will share your living space?

In this captivating installment, Ken New teams up with Bill and Val Fillmore, esteemed realtors from Hoven Real Estate, to unravel the complexities that prospective homebuyers encounter when seeking out an appealing location. Brace yourself as they delve into indispensable factors to deliberate when determining where to invest and identifying the type of housing that harmonizes flawlessly with your financial goals.

Bill and Val explore: 

  • How housing preferences have transformed in the wake of the pandemic and the resulting financial implications
  • The significance of considering environmental factors and evaluating the financial impact of insurance expenses associated with potential problems.
  • Key questions to contemplate when downsizing during retirement, taking into account the financial implications and optimizing your financial strategy.
  • The unique considerations for first-time home buyers, retirees, and business owners, offering personalized financial advice for each stage of life.
  • And more

 

Connect with Bill and Val Fillmore:

Connect with Ken New:

About our Guest:

Bill and Val’s journey to Real Estate followed successful career paths in the world of Customer Experience. Both held senior roles supporting such national brands as Bausch & Lomb, Sprint, Capital One, AT&T, Ford & Lincoln Motor Companies, and Leonardo DRS. Val and Bill leverage their knowledge and skills from those experiences to ensure their clients receive timely, accurate, and insightful information at all times through their journey to buy, sell or invest in Real Estate. 

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Ensure Your Home is Protected with Frank Hanrahan (Ep. 13)

Ensure Your Home is Protected with Frank Hanrahan (Ep. 13)

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Many retirees are becoming nervous about the cost of homeowners insurance and what that means for their future spending. How much protection does insurance provide and what should clients keep an eye out for when it comes to additional costs?

In this episode, Ken New is joined by Frank Hanrahan, Managing Director of RISK Strategies, to discuss homeowners insurance with a focus on retirees. Frank provides insight into the types of coverage and information many don’t think about when submitting a claim.

Frank shares: 

  • How Florida differs from other states when it comes to insurance coverage
  • Examples of insurance scams that end up costing consumers more than they gain
  • The biggest challenges with older homes with getting protection and coverage
  • Why insurance companies may not pay the entire amount needed for repairs that are up to building codes
  • And more

 

Connect with Frank Hanrahan:

Connect with Ken New:

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Creating a Coordinated Retirement Plan Through Virtual Family Offices (Ep. 12)

Creating a Coordinated Retirement Plan Through Virtual Family Offices (Ep. 12)

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Planning for retirement means thinking about taxes, retirement income, estate planning and the lifestyle during retirement. What will that retirement look like if the pieces don’t fit together?

In this episode, Ken New explores what a family office is and how he works to provide the same level of care and planning through a virtual interface. Ken shares why he built his virtual family office and the importance of building communication between the different advisors working on a single plan.

Ken discusses: 

  • The nature and advantages of family offices for their clients
  • The cost-efficient benefits of virtual family offices, which offer the same quality of service
  • The advantages of working with a family office as opposed to a single advisor when planning for retirement
  • The crucial role of lifestyle management in their retirement planning
  • And more

 

Connect with Ken New:

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