Grow Your Business and Grow Your Wealth

In this episode of Grow Your Business & Grow Your Wealth, host Gary Heldt sits down with Jacqueline Ryan, founder of Your Independent Financial Solutions. As a seasoned tax and business strategist, Jacqueline shares her journey as a “serial entrepreneur”. She offers essential advice for entrepreneurs seeking to avoid financial pitfalls, maximize tax strategies, and ensure their businesses thrive.

Key Takeaways

→ Choose the right entity for your business: Understanding the differences between LLCs, S-Corps, and C-Corps can save you money and headaches.

→ Track all financial activity: Use accounting software to monitor expenses, and don’t overlook small but impactful costs like subscriptions or product samples.

→ Leverage underutilized tax strategies: From reimbursing employees through accountable plans to properly deducting mileage, many business owners leave money on the table.

→ Separate personal and business finances: Establishing a dedicated business bank account is crucial for protecting your assets.

→ Think long-term: Plan your financial and tax strategies with your business goals in mind, whether for scaling, securing funding, or leaving a legacy.

Quotes

“Tailored advice can make or break your business. Don’t settle for one-size-fits-all solutions.”

“The key to success is starting strong and knowing where you want to end up.”

More from Jacqueline Ryan

Jacqueline Ryan is a tax and business strategist, published author, and filmmaker dedicated to helping entrepreneurs achieve financial success. Her experience spans multiple industries, making her a trusted advisor for small business owners.

Website: ITSYIFS.com

Phone: 407-512-5854

Email: admin@itsyifs.com

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In this episode of Grow Your Business & Grow Your Wealth, host Gary Heldt speaks with Mario Zumbo, founder of Preserve Private Wealth. They discuss Mario’s pivot from government contracting to wealth management, the importance of building meaningful client relationships, and his entrepreneurial insights for business owners.

Are you ready to learn how to take control of your financial future and balance risk with stability?

Tune in as Gary and Mario discuss personalized wealth management and actionable strategies for growing your business and wealth.

Key Takeaways:

→ The impact of combining entrepreneurial risk-taking with conservative financial planning.

→ How to overcome psychological barriers to starting your own business.

→ The advantages of personalized financial advising for high-net-worth individuals.

→ Why assembling a strong advisory team is critical for entrepreneurs.

→ Advice for selecting the right financial advisor tailored to your unique needs.

Quote from Mario Zumbo:

“The hardest decision was making the leap into entrepreneurship—but once you’re all in, the rewards are unmatched.”

“The earlier you bring in the right advisors and team, the greater your chances for long-term success and growth.”

How to Reach Mario Zumbo:

• Email: mario@preserveprivatewealth.com
• Website: www.preserveprivatewealth.com
• LinkedIn: Mario Zumbo

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Is your business unknowingly at risk due to IT blind spots? Discover how to protect your operations and leverage technology for growth in this must-listen episode!”

In this episode of Grow Your Business & Grow Your Wealth, host Gary Heldt dives into IT strategy with Jeff Roberts, founder and CEO of Innovation Vista. Jeff shares his expertise on pressing IT challenges small and medium-sized businesses face, including cybersecurity threats, blind spots in IT management, and leveraging AI for competitive advantages. With actionable insights and real-world examples, Jeff explains how businesses can secure their data, streamline processes, and create value through technology.

Key Takeaways:

→ Why cybersecurity is a critical priority for businesses of all sizes.

→ The value of fractional IT services to maximize expertise while minimizing costs.

→ The importance of addressing IT blind spots before they lead to costly mistakes.

→ How small businesses can use AI tools to gain a competitive edge.

→ Best practices for securing cloud-based infrastructure effectively.

Quotes from Jeff:

1. “Cybersecurity is the fastest-moving, highest-risk area of business today. If you haven’t reassessed your protections recently, you’re behind.”
2. “For the cost of one employee, you can access a network of 400+ IT experts who bring real industry experience.”

Connect with Jeff Roberts:

📧 Email: jroberts@innovationvista.com

🌐 Website: Innovation Vista Founder

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→ What happens when you skip essential legal agreements in your business? In this episode of Grow Your Business & Grow Your Wealth, host Gary Heldt dives into the legal must-haves for entrepreneurs with Brian Meltzer, a partner at Saul Ewing LLP. Discover how to protect your assets, navigate joint ventures, and avoid legal nightmares.

In this episode, Gary Heldt speaks with Brian Meltzer, a business attorney specializing in mergers, acquisitions, and joint ventures. They discuss the importance of operating agreements, what to include, and how to structure partnerships to avoid future disputes. Brian emphasizes the risks of skipping proper documentation and highlights the value of hiring specialized legal counsel. Whether you’re starting a business or navigating a complex deal, this conversation is packed with actionable advice to help you safeguard your success.

Key Takeaways:

→ The importance of operating agreements: These documents protect your contributions, define roles, and provide governance for resolving disputes in partnerships and joint ventures.

→ Risks of skipping contracts: Using generic templates or failing to read agreements can lead to significant legal and financial issues, like losing control of assets or ownership.

→ Specialized legal expertise matters: Hiring an attorney experienced in business law, particularly mergers and acquisitions, can help prevent costly mistakes.

→ Setting up joint ventures for success: A well-structured agreement ensures clear responsibilities, protects assets, and defines an exit strategy for all parties.

→ Start with NDAs and LOIs: Non-Disclosure Agreements and Letters of Intent are critical first steps in protecting sensitive information during business transactions.

Quote from Brian Meltzer:

“An operating agreement is the Bible of your business. It governs everything—what’s in it defines how your business operates, resolves disputes, and ultimately protects what’s yours.”

How to Reach Brian Meltzer:

• Email: brian.meltzer@saul.com
• Phone: 410-332-8613
• Firm: Saul Ewing LLP, Baltimore Office

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What if donating to charity was as easy as tapping on your phone? Discover how Adam Nash and Daffy are making generosity simple and accessible for everyone.

Summary:

In this episode of Grow Your Business & Grow Your Wealth, host Gary Heldt dives into a compelling conversation with Adam Nash, co-founder and CEO of Daffy. Adam shares how Daffy is redefining charitable giving by leveraging innovative technology and a membership-based model that works for everyone—from individuals donating $10 a week to high-net-worth donors. Learn how Daffy makes giving easier, more intentional, and impactful.

Key Takeaways:

→ Daffy’s flat-fee model makes donor-advised funds accessible to everyone.

→ How Daffy integrates family and community into giving decisions.

→ The tax advantages of using donor-advised funds.

→ Why automation and goal-setting lead to more consistent giving.

→ Adam Nash’s vision for the future of Daffy and charitable giving.

More from Adam Nash:

• Linkedin

Learn more about Daffy: www.daffy.org

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In this episode, host Gary Heldt speaks with Michael Mendelson, a partner at Outside GC, a unique virtual law firm. Michael shares his journey from mechanical engineering to law, explains the innovative business model of Outside GC, and offers actionable insights for small and medium-sized businesses. This conversation is packed with practical advice on managing legal risks, building trust with advisors, and navigating the complexities of modern business law.

5 Key Takeaways:

• The Unique Model of Outside GC:

Outside GC is a virtual law firm specializing in business law for entrepreneurs and established businesses, offering flexibility without compromising expertise.

• Importance of Legal Foundations:

Michael emphasizes the importance of proper business formation, founder agreements, and understanding regulatory requirements to avoid costly mistakes later.

• Strategic Legal Advice:

Lawyers at Outside GC prioritize efficiency and clarity, helping clients focus on major risks and business goals while avoiding unnecessary complexity.

• Leveraging Technology in Law:

While AI and online tools like LegalZoom can help small businesses, they often fall short for more complex legal needs. Consult a professional when navigating high-stakes situations.

• Building Strong Client Relationships:

A good attorney not only provides legal advice but also becomes a trusted advisor, proactively checking in and tailoring strategies to fit the client’s evolving needs.

• Notable Quotes from Michael Mendelson:

“Our job isn’t to fight over every comma; it’s to help you sleep at night while you focus on growing your business.”

“Don’t just download a template—consult someone who can align your legal framework with your long-term goals.”

How to Reach Michael Mendelson:

Website: www.outsidegc.com

Learn more about Michael and his partners, their services, and how they can help you navigate your legal challenges and grow your business.

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🎤 What are the top tax mistakes small business owners make, and how can you proactively avoid them?

📝 In this episode, Gary Heldt interviews Tina Azarvand, the Managing Partner at Azarvand Tax Law. Tina shares insights into common tax mistakes small business owners make, strategies for proactive tax planning, and how her firm uniquely supports entrepreneurs by simplifying tax and legal processes. From payroll tax penalties to the importance of good record-keeping, Tina highlights actionable tips to help small businesses stay compliant and maximize their financial health.

Key Takeaways:

• S Corp Compliance: Avoid inadvertent terminations by understanding “reasonable compensation” requirements.
• Record-Keeping Essentials: Keep receipts organized digitally to prepare for audits and avoid penalties.
• Proactive Payroll Tax Management: Payroll taxes should be a top priority; penalties can snowball quickly.
• The Cohen Rule: If you lose receipts, the IRS allows reasonable estimates, but staying organized is better.
• Student Loan Payment Benefits (CARES Act, Section 2206): Employers can pay up to $5,250 directly to employee loans, exempt from income tax and FICA—valid through 2025!

 How to Reach Tina Azarvand:

• Email: info@azarvandtaxlaw.com
• Phone: 410-698-4005

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Are you truly prepared to protect your business from unexpected challenges?

Today’s episode with host Gary Heldt and guest attorney Rachel King explores essential legal and financial strategies for business owners, from assembling a professional support team to proactive planning and avoiding common pitfalls in business structuring and asset protection. Gain actionable advice on safeguarding business and personal assets, reducing stress, and preventing costly mistakes.

Key Takeaways:

✔ Build a Team of Professionals:

Rely on a trusted attorney, CPA, and insurance agent to cover legal, financial, and risk management needs.

✔ Use Buy-Sell Agreements:

Ensure buy-sell agreements are in place to handle ownership transitions smoothly and prevent conflicts.

✔ Separate Personal and Business Assets:

Keep personal assets out of the business entity to protect against liability in case of legal actions.

✔ Invest in Proactive Planning:

Spend on professional advice upfront to avoid high costs and stress from potential lawsuits later

Quote: “Nothing is more expensive and more stressful than having to defend a lawsuit.”

Get in touch with Rachel King: 

• Website: RachelKingAttorney.com
• Upcoming Book: Getting Divorced, Now What? (October 2024) on financial independence during and after divorce.

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 Are you confident your business is taking advantage of every tax break and staying audit-proof, or could you be leaving money on the table? 

 In this episode, Gary Heldt welcomes Sherry Peel Jackson, a seasoned CPA, former IRS agent, and founder of SP Jackson Consulting, LLC. Sherry shares insights from her extensive experience in the tax and financial fields, focusing on strategies for small business owners to improve tax compliance, protect against audits, and maximize deductions. From record-keeping tips to tax-saving methods like hiring family members, Sherry offers practical advice that empowers entrepreneurs to achieve financial success.

Key Takeaways:

• Sherry’s Background: Transitioning from IRS agent to CPA and consultant, Sherry leverages her knowledge of the IRS and tax law to help business owners avoid common pitfalls.
• Tax Mistakes to Avoid: Sherry discusses frequent errors small business owners make, such as poor record-keeping, misunderstanding deductible expenses, and relying on inadequate tax preparation services.
• Strategies to Reduce Tax Liability: Effective strategies like the “Augusta Rule,” hiring family members, and utilizing Roth IRAs for children’s savings.
• Audit Triggers and Preparation: Learn about common red flags that can trigger an IRS audit and the importance of thorough documentation.
• Cryptocurrency and Unrealized Gains: Sherry touches on evolving tax laws concerning cryptocurrency and shares her concerns about potential legislation taxing unrealized gains.

Quotes:

• “If we could get business owners to focus on record-keeping, they would save so much money in the long run.”
• “Don’t rely on your debit card statements for audits. Keep detailed receipts and documentation to back up your expenses.”

Resources:

• Connect with Sherry Peel Jackson: connect@sherrypeeljackson.com

Tune in for Practical Tax Tips and Business Growth Strategies!

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