Tag: Proactive Tax Strategies
How Cost Segregation Can Maximize Cash Flow for Property Owners with Joel Grushkin (Ep. 10)

How Cost Segregation Can Maximize Cash Flow for Property Owners with Joel Grushkin (Ep. 10)

By |

Are you a small business owner, or building owner looking to mitigate taxes and boost cash flow?

Ken New and Joel Grushkin dive into the intricacies of cost segregation—a powerful tax planning tool for commercial real estate depreciation. Joel, with 40 years of executive experience and Regional Director of Cost Segregation Initiatives, shares his wealth of knowledge on optimizing tax savings for property developers, owners, and investors. Whether you’re acquiring new property or have been utilizing straight-line depreciation, this episode is rich in strategic insights catering to business and property owners, aiming for effective tax mitigation.

Ken and Joel discuss: 

  • The basics of cost segregation and its impact on commercial real estate depreciation
  • The benefits of accelerated depreciation for business owners, including immediate cash flow improvement
  • The partnership between Joel’s firm and CPAs and how cost segregation studies can significantly reduce tax liabilities
  • Tips on navigating potential IRS audits and the long-term advantages of cost segregation, even upon selling the property
  • And more

 

Resources:

Connect with Ken New:

Connect with Joel Grushkin:

 

About the Host: 

Ken New brings more than 25 years of financial industry experience and expertise.  Ken began his financial career as a manager at John Hancock in 1991.  Today Ken is the founder & owner of Pinnacle Financial Wealth Management, a private financial firm dedicated to providing holistic financial management and proactive tax strategies to high net-worth individuals, CPA’s, fellow advisors, and attorneys. He has such a unique and wide range of expertise in the financial industry that he is a member of the prestigious Million Dollar Round Table and a past officer of the National Association of Insurance and Financial Planners. As a team based consultant, Ken collaborates with both local and national experts within an exclusive Virtual Family Office model to provide a holistic approach to full financial planning.   Ken’s dedication to full financial planning allows him to provide more value and increases client satisfaction.  Ken is dedicated to discovering options for income and retirement planning with a definitive strategy to reduce taxes. Ken New is the host of the Proactive Tax Strategies Podcast where he showcases many unique tax mitigation strategies and retirement topics.

About our Guest: 

Joel Grushkin is the Regional Director of Cost Segregation Initiatives. With 40 years of executive experience, his background includes eleven years with Arthur Young & Company (now Ernst & Young) as a Principal and director of the firm’s Management Services Practice. He was also a member of AY’s National Real Estate Industry Specialty Practice Group. His cost segregation experience has encompassed studies for developers and owners of commercial real estate, including but not limited to office buildings, shopping centers, manufacturing and distribution centers, specialty medical facilities, automotive dealerships, hotels, restaurants, financial institutions, multi-family residential and senior living.

Podcast: Play in new window | Download | Embed

Subscribe: RSS
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)

By |

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. 

Podcast: Play in new window | Download | Embed

Subscribe: RSS