The Concierge CPA

77 - Roth IRA 2025 Unicorn or BS? What You Need to Know Before the April 15, 2026 Deadline

In this pilot episode of the "Tax Strategy Hot Seat," Dr. Jackie Meyer, CPA introduces a new series aimed at demystifying tax strategies for both tax advisors and taxpayers. The episode focuses on the Roth IRA, a popular retirement account that allows for tax-free growth and withdrawals under certain conditions. Jackie and her guest, Jason Ackerman, CPA, CFP®, CGMA, CEO of Wealth Rabbit, delve into common misconceptions surrounding Roth IRAs, including the complexities of backdoor Roth contributions and the importance of understanding tax implications during tax season. They emphasize the need for proper documentation and the potential pitfalls of mismanaging Roth accounts, especially for high-income earners. 🔗 Connect with Jason Ackerman, CPA, CFP®, CGMA https://www.linkedin.com/in/jasonlackerman/ [https://www.linkedin.com/in/jasonlackerman/] https://www.wealthrabbit.com/ [https://www.wealthrabbit.com/] 🔗 Connect with Dr. Jackie Meyer Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa [https://www.linkedin.com/in/jackiemeyercpa] Jackie on Instagram @jackiemeyerCPA Jackie's work at https://www.jackiemeyercpa.com [https://www.jackiemeyercpa.com] This episode is brought to you by TaxPlanIQ: https://www.taxplaniq.com Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners [https://www.taxplaniq.com/newsletter-signup-listeners] Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives! --------------- Takeaways: - Roth IRAs allow for tax-free growth and withdrawals if rules are followed. - Many taxpayers misunderstand the complexities of backdoor Roth contributions. - Proper documentation is crucial to avoid tax penalties when managing Roth accounts. --------------- #JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #TaxAdvisory #TaxSavings #FinancialStrategies #RothIRA #TaxStrategy #TaxAdvisor #BackdoorRoth #WealthRabbit #TaxMisconceptions #RetirementAccounts #Tax-FreeGrowth #TaxSeason

76 - Health, Wealth and Tax Savings in One Strategy 401h

In this episode, Dr. Jackie Meyer, CPA and David Podell, Founder of Business Benefits Consultants, explore the 401H strategy, an underutilized tool in tax planning that offers significant tax savings and health benefits. They discuss the complexities of implementing this strategy, its benefits, and how it can be integrated into existing retirement plans. The conversation also covers common misconceptions about retirement planning and the importance of proper implementation and tracking. 🔗 Connect with David Podell https://www.linkedin.com/in/bbconsultants/ https://businessbenefitsconsultants.com/ 🔗 Connect with Dr. Jackie Meyer Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa Jackie on Instagram @jackiemeyerCPA Jackie's work at https://www.jackiemeyercpa.com This episode is brought to you by TaxPlanIQ: https://www.taxplaniq.com Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives! --------------- Takeaways: - The 401H strategy unlocks unique tax savings and health benefits. - Many advisors are unaware of the 401H due to its complexity. - The 401H can be seen as a layer on top of existing retirement plans. - It allows for triple tax-free benefits when used for medical expenses. - Employers must track contributions and distributions carefully. - The 401H can include a wide range of medical expenses. - It's essential to have a knowledgeable TPA for implementation. - The costs of setting up a 401H are comparable to other plans. - Higher contributions are possible with the 401H strategy. - Understanding cash flow is crucial for effective planning. --------------- #JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #TaxAdvisory #401H #TaxSavings #RetirementPlanning #HealthBenefits #FinancialStrategies #AdvancedRetirementDesign #BusinessBenefits

75 - The Most Powerful Sentence You’ll Ever Learn: Stop Selling and Start Persuading

In this episode, Dr. Jackie Meyer, CPA and Neil Gordon explore the challenges professionals face in communicating their value effectively, particularly in the tax advisory field. They discuss the concept of the 'silver bullet' as a powerful persuasion technique, the evolving role of tax professionals in light of AI advancements, and the importance of redefining tax advisory to focus on proactive strategies rather than mere compliance. The discussion also touches on practical insights for improving communication and messaging in professional settings. 🔗 Connect with Neil Gordon https://www.linkedin.com/in/neilcanhelp/ https://www.linkedin.com/company/neil-gordon-consulting/about/ https://neilcanhelp.com/ 🔗 Connect with Dr. Jackie Meyer Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa Jackie on Instagram @jackiemeyerCPA Jackie's work at https://www.jackiemeyercpa.com This episode is brought to you by TaxPlanIQ: https://www.taxplaniq.com Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives! --------------- Takeaways: - Most professionals create amazing work but struggle to communicate value. - The silver bullet technique can transform messaging and persuasion. - Tax compliance is becoming obsolete due to AI advancements. - Tax advisors need to redefine their roles to focus on strategy. - Effective communication starts with addressing the client's perceived problems. - Understanding the audience is key to successful persuasion. - Simplifying complex ideas can enhance client understanding. - Proactive tax strategies lead to better financial outcomes for clients. - The value of a tax professional lies in their advisory capabilities. - Building relationships is crucial for maximizing existing client engagement. --------------- #JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #Communication #ValueProposition #TaxAdvisory #Persuasion #SilverBullet #AITax #TaxAI #TaxPros

74 - The 831(b) Wake-Up Call: What Advisors Are Missing in Risk Management

In this episode, Dr. Jackie Meyer, CPA and Vardan Pogosian, CPA explore the effective investment strategies and the significant tax savings that can be achieved through careful financial and risk planning with captive insurance as a tax planning strategy and protection vehicle. They discuss the potential growth of investments over time, emphasizing the importance of tax deferral and the benefits of arbitrage in wealth management. Meyer and Pogosian highlight how strategic financial decisions with insurance risk planning can lead to substantial savings and growth, particularly in the context of long-term planning and insurance liquidation. 🔗 Connect with Vardan Pogosian, CPA https://www.linkedin.com/in/vardan-pogosian-cpa-96977457/ https://pogosiantp.com/ 🔗 Connect with Dr. Jackie Meyer Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa Jackie on Instagram @jackiemeyerCPA Jackie's work at https://www.jackiemeyercpa.com This episode is brought to you by TaxPlanIQ: https://www.taxplaniq.com Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives! --------------- Takeaways: - If he does this for five years, he's going to have close to seven, eight million. - 370K taxes per year they're saving, which over a 10 year period would add up to almost four mil. - The deferral until you liquidate the insurance company later down the road is crucial. - Arbitrage can significantly impact your cap gains rate. - Long-term financial planning is essential for maximizing growth potential. - Investments can grow substantially with the right strategies in place. - Tax deferral plays a key role in wealth accumulation. - Understanding cap gains is important for financial success. - Insurance liquidation can provide additional financial benefits. - Strategic financial decisions lead to substantial savings and growth. --------------- #JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #WealthManagement #InvestmentStrategies #TaxSavings #Arbitrage #CapGains #InsuranceLiquidation #TaxDeferral #captive #insurance

73 - How to 5x Your Charitable Giving Strategy with Charitable Gift Financing

In this conversation, Dr. Jackie Meyer and Aleksander Dyo, Founder of Wealth Excel, of discuss the intricacies of charitable gift financing, a strategy that allows high-income earners to maximize their charitable contributions while minimizing tax liabilities. They explore the mechanics of the grantor's trust, the ideal clients for this strategy, and the legal validity of charitable gift financing. The discussion also addresses common myths surrounding charitable giving and emphasizes the importance of intentional philanthropy in legacy planning. 🔗 Connect with Aleksander Dyo https://www.linkedin.com/in/aleksander-dyo https://wealth-excel.com/ 🔗 Connect with Dr. Jackie Meyer Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa Jackie on Instagram @jackiemeyerCPA Jackie's work at https://www.jackiemeyercpa.com This episode is brought to you by TaxPlanIQ: https://www.taxplaniq.com Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners. Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives! --------------- Takeaways: - Charitable gift financing has been around since 1978. - The strategy allows for significant tax deductions on charitable contributions. - Grantor's trusts provide asset protection and privacy for clients. - Ideal clients are high-income earners looking for tax-efficient philanthropy. - The strategy can be structured to minimize cash outflow during the client's lifetime. - Clients can receive a tax deduction for the entire financed amount, not just the down payment. - The process typically takes 45 to 60 days from start to finish. - There are two stages of charitable giving: immediate and legacy giving. - The strategy is validated by IRS rulings and has been tested under audit. - Education is key to understanding and utilizing advanced charitable planning strategies. --------------- #JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #CharitableGiftFinancing #WealthManagement #GrantorsTrust #Philanthropy #TaxDeductions #LegacyPlanning #FinancialServices #HighNetWorthIndividuals #TaxEfficiency