Archives: Episodes

This week, Patrick takes you on a journey through some of the most impactful moments from the last quarter. We’re thrilled to present a compilation of insights and wisdom from our incredible guests. We are focusing on the crucial topics of tax strategy, wealth building and setting up your business for long-term success. 

Tune in as we revisit key highlights, featuring expert tips on tax strategy, wealth management, entrepreneurial growth strategies, and visionary insights on future-proofing your business. Each snippet is carefully selected to provide you with a taste of the valuable knowledge shared by the experts we’ve had on the show. 

As we dig into this compilation, we want to express our gratitude to the guests that have joined our podcast. Their wisdom allows us to pay less tax and build more wealth so we can live a great life. We’re excited to celebrate their contributions in this episode. We encourage you to explore the full interviews with these guests on our podcast page and keep an eye out for more expert guest. 

Key Takeaways: 

• Important Tax Saving Opportunities 
• Wealth Management Insights 
• Entrepreneurial Growth Strategies 
• Future-Proofing Your Business 

Resources: 

Visit www.vitalstrategies.com to download FREE resources   

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  

Follow on Instagram at https://www.instagram.com/vital.strategies    

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/   

Credits:  

Sponsored by Vital Wealth  

Music by Cephas  

Audio, video, and show notes produced by Podcast Abundance 

Research and copywriting by Victoria O’Brien 

Have you ever considered what makes your business truly valuable? Join us as we unravel the key component that could redefine the worth of your company.

In this episode of the Vital Strategies Podcast, we sit down with Derek Ripp, a leading expert in Business Exit Planning. Together, we explore the intricacies of the 5, 4, 3, 2, 1 method – emphasizing proactive planning over reactivity. We take a look at business exit plan from the seller and buyer point of view and how to maximize your businesses value.

A standout moment in our conversation revolves around identifying the singular component that adds unparalleled value to your company. We also unravel the three key areas integral to business exit planning, shedding light on the pivotal role of third-party advisors. Don’t miss this episode, where we empower entrepreneurs to construct a comprehensive exit plan, setting the stage for a secure and regret-free retirement.

Key Takeaways:

• 5, 4, 3, 2, 1 Method
• Two Main Options for Selling Your Business
• The Singular Component of Value
• Three Key Areas of Business Exit Planning
• Setting Up for Retirement Without Regret

Resources:

Visit www.vitalstrategies.com to download FREE resources  

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies 

Follow on Instagram at https://www.instagram.com/vital.strategies   

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast  

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/  

Credits: 

Sponsored by Vital Wealth 

Music by Cephas 

Audio, video, and show notes produced by Podcast Abundance

Research and copywriting by Victoria O’Brien 

Today we sit down with tax expert Kevin Jerry to unlock a world of possibilities in real estate. Having personally witnessed Kevin save a client $1.5 million in income tax, we explore how his unique approach bridges the gap between your CPA’s services and beyond. 

In this episode, Kevin digs into Cost Segregation, Tangible Property Regulations, and Partial Asset Dispositions, illustrating their interconnectedness with real-world examples. Discover the opportunities each strategy unveils, and don’t miss our discussion on the often-overlooked tax incentives for real estate. 

Key Takeaways: 

• Strategic Concepts Explored 
• How to Take Advantage of Deductions in the Past 
• Tax Incentives 

Resources: 

Visit www.vitalstrategies.com to download FREE resources   

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies  

Follow on Instagram at https://www.instagram.com/vital.strategies    

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast   

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/   

Credits:  

Sponsored by Vital Wealth  

Music by Cephas  

Audio, video, and show notes produced by Podcast Abundance 

Research and copywriting by Victoria O’Brien 

Securing long-term financial freedom requires careful consideration of cashflow and making calculated investments without jeopardizing business growth. Entrepreneurs must conduct their due diligence by implementing tax strategies, maximizing retirement plans and deductions, and should always consult with professionals to navigate the complexities of financial management successfully.  

In this episode, you’ll also hear: 

• Leveraging family business tax benefits and deductions   
• Drawbacks of getting your taxable income to zero 
• Proactive vs. reactive approach to taxes   
• Real estate investing, automation, and maintaining liquidity  
• Suggestion for working with financial professionals  

Must-listen moments:  

[00:06:30] If your CPA is over their head with your tax strategy, that’s not uncommon. Oftentimes, CPAs, we need to understand that their business model is really just getting the tax return to the IRS in a way that is compliant. 

[00:14:43] The QBI deduction, the qualified business income deduction, is the lesser of two numbers, it’s the lesser of 50% of your wages or 20% of net income. When you’re one of the only employees, or if you’ve got a small number of employees, you can start changing your, your wage and every dollar in wage brings the net income number down. 

[00:28:25] Automation makes all the sense in the world. One of the reasons the 401k for the traditional employee has worked so well is the dollars never hit their bank account. The money comes straight out of their paycheck, goes into the 401k, gets invested, and then they hit retirement with a million, 2 million in their investment account. 

If you’re focused on paying less tax and building more wealth, so you can live a great life, fill out a short survey at www.vitalstrategies.com/client to explore working together.  

Visit www.vitalstrategies.com to download FREE resources  

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies 

Follow on Instagram at https://www.instagram.com/vital.strategies   

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast  

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/  

Credits: 

Sponsored by Vital Wealth 

Music by Cephas 

Audio, video, and show notes produced by Podcast Abundance

Research and copywriting by Victoria O’Brien 

There are 3 key components to building real, sustainable wealth, and they aren’t as effortless as the fun, flashy, or as easy as online gurus make it seem.  

One of those keys is owning a profitable online business. However, while entrepreneurship CAN create wealth, it comes with several cautionary tales.  With a lens on the tough road to business ownership, we discuss the essential qualities for success—having a solid ‘why,’ controlling impulses, and fostering innovation. 

To create long-lasting wealth, your choice in investments is key. Strap in as we divulge the ins and outs of growing a hefty real estate portfolio, where my partner in life and business, Julie, became the linchpin of our operation. We’ll navigate the complexities of financial leverage, the unsung heroes that are tenants, and the surprising benefits of amortization and depreciation. 

In this episode, you’ll also hear: 

• The 3 keys to building wealth 
• 3 key traits of successful business owners   
• The pros and cons to entrepreneurship 
• Advice for building liquidity into your portfolio 
• My personal journey to becoming a real estate investor 

Must-listen moments:  

[00:01:32] If you want to keep growing, you must constantly be doing new, hard things that will challenge you. 

[00:04:47] You need to be dialed into the marketing and sales with an offering to the marketplace that delivers tremendous value. The more you can spread the word and deliver on your value proposition, the more buyers will find their way to you. 

[00:08:35] A good rule of thumb to strive for is to build liquid assets in portfolio wealth equal to one year of income before you start putting money into illiquid assets like real estate and other business opportunities. 

If you’re focused on paying less tax and building more wealth so you can live a great life, fill out a short survey at www.vitalstrategies.com/client to explore working together.  

Visit www.vitalstrategies.com to download FREE resources.  

Listen to the podcast on your favorite app: https://link.chtbl.com/vitalstrategies 

Follow on Instagram at https://www.instagram.com/vital.strategies   

Follow on Facebook at https://www.facebook.com/VitalStrategiesPodcast  

Follow on LinkedIn at https://www.linkedin.com/in/patricklonergan/  

Credits:

Sponsored by Vital Wealth

Music by Cephas

Audio, video, and show notes produced by www.podcastabundace.com

Research and copywriting by Victoria O’Brien

Liquidity, market shifts, and risk return —what do they mean for your investment portfolio? Get the answers today!

On the latest Vital Strategies Podcast episode, host Patrick Lonergan welcomes Kevin Smith, CFA, for a deep dive into building a resilient investment portfolio. Kevin brings his top-tier industry expertise to discuss liquidity, time frames, tax implications, and risk management. The conversation explores the positives and negatives of various investment opportunities, emphasizing the importance of strategic portfolio structuring for favorable outcomes.

Kevin’s wealth of experience provides listeners with a deeper understanding of investment portfolio design and risk considerations. Whether you’re a seasoned investor or just starting, this episode offers valuable insights that can positively impact your financial decisions. Don’t miss out on this opportunity to enhance your approach to investments.

Key takeaways:

• Strategic Portfolio Structuring
• Proactive Corrections Navigation
• Turning Securities into Cash

Resources:

2024 Planning Resources

Read the Transcript

Submit questions to the podcast

Credits:

Sponsored by Vital Wealth

Music by Cephas

Produced by BrightBell Creative

Research and copywriting by Victoria O’Brien

Captive insurance is a cutting-edge strategy that could change the way you protect your business.

In this episode, we explore the versatility of captive insurance for asset protection and business security. Discussing its ideal applications; IRS compliance and how captive insurance could lead to substantial savings for your business.

Joining us for this discussion is Level 3 tax expert, Chad Spitzer. Chad specializes in developing captive insurance solutions to safeguard businesses. In today’s episode, Chad provides practical examples and red flags to navigate, making it an essential listen for those seeking advanced strategies to fortify their financial stability.

Key Takeaways:

• Ideal candidates and business scenarios for captive insurance.
• Practical examples of captive insurance applications.
• IRS scrutiny and compliance.

Resources:

2024 Planning Resources

Read the Transcript

Submit questions to the podcast

Credits:

Sponsored by Vital Wealth

Music by Cephas

Produced by BrightBell Creative

Research and copywriting by Victoria O’Brien

Considering advanced tax planning but unsure about the benefits and pitfalls? We’ve got the answers you need.

In this episode, host Patrick Lonergan, navigates the complexities of Level 3 tax strategies, where creativity meets a fair amount of risk. While these strategies undergo close scrutiny from the IRS, we provide insights into how the right approach can ensure compliance and unlock substantial benefits. We take a look into taxes from the government’s perspective, offering a deeper understanding of compliancy, and pack the episode with real-world examples and essential considerations for a proper setup. 

Join us, as we explore Level 3 Tax Planning, providing a roadmap for tax optimization while staying compliant with the IRS. Whether you’re a seasoned entrepreneur or an individual looking to enhance your financial tactics, this discussion is packed with actionable strategies that can transform your approach to tax planning.

Key Takeaways:

• Unpacking Level 3 Strategies
• IRS Compliance Insights
• Benefits vs. Risks

Resources:

2024 Planning Resources

Read the Transcript

Submit questions to the podcast

Credits:

Sponsored by Vital Wealth

Music by Cephas

Produced by BrightBell Creative

Research and copywriting by Victoria O’Brien

When planning to sell your business, having a strategic exit plan in place is crucial to ensure a successful transition.

Join podcast host Patrick Lonergan along with business exit-plan expert David Barnett as they guide you through the process of buying and selling businesses.

With over 25 years of experience, David shares unique insights to help entrepreneurs navigate the complexities of selling their businesses.

This episode explores the details of typical exit strategies with real-world examples and practical tips.

You’ll discover the art of structuring a deal that benefits both sellers and buyers, along with advice on post-closing payments for a seamless transition.

Key Takeaways:

• Strategic Deal Structuring for Mutual Benefit
• Avoiding Common Pitfalls
• Transition Planning

Tune in now to strategize your business exit and set the stage for future success!

Resources:

David C Barnett

2024 Planning Resources

Read the Transcript

Submit questions to the podcast

Credits:

Sponsored by Vital Wealth

Music by Cephas

Produced by BrightBell Creative

Research and copywriting by Victoria O’Brien