Tax Strategy vs. Tax Prep—What You Need to Know

Tax Strategy vs. Tax Prep—What You Need to Know

In this episode, host Adam Kazinec sits down with Audrey Giannini, CPA and co-founder of Finance & Consulting, to discuss the real-world differences between tax preparation and tax strategy. Audrey shares how her firm works across a wide range of clients—from business owners to everyday W-2 earners—and why planning ahead is far more powerful than scrambling at tax time. They explore: * The blurry line between tax and financial decisions—and why collaboration is essential * Commonly overlooked deductions (like HSA contributions and business use of home) * Why a separate bank account can simplify tax season and reduce CPA fees * The difference between CPAs, EAs, and self-described "tax strategists"—and how to vet each * Risks of chasing aggressive tax advice you find on social media * What to watch for in 2025 with the potential sunset of the Tax Cuts and Jobs Act * Smart questions to ask before hiring a tax pro—and why personality matters just as much as credentials Whether you’re self-employed or just trying to get your finances in order, this episode is packed with insight into making smarter tax decisions before April.

Beyond Investments: How Financial Planners Bring It All Together

In this episode of Kaz’s Korner, host Adam Kazinec sits down with Jason Bowers, Director of Financial Planning at Convergent Financial Partners, to unpack one of the most misunderstood topics in personal finance: the real difference between a financial planner and a financial advisor. Jason shares his unique journey from military police officer to financial planner and explains why true financial planning goes far beyond investment advice or selling products. Together, they dive into what it really means to act as a fiduciary, the value of having a quarterback for your financial life, and why quality planning is worth paying for. You’ll also hear: * The importance of understanding how your advisor gets paid * Why a one-size-fits-all plan won’t cut it * The critical role financial planners play in vetting CPAs, attorneys, and other professionals * How planning before and after retirement can bring peace of mind—and help you actually enjoy your money Whether you're five years from retirement or just trying to make sense of your financial picture, this episode is packed with insights to help you take the next right step—with clarity and confidence.

From Wills to What-Ifs: Real Talk on Estate Planning

In this episode, Adam Kazinec sits down with estate planning attorney Stephanie Eban to break down what estate planning really means, who needs it, and why it’s often overlooked or misunderstood. Key Highlights: * Estate Planning is for Everyone: Stephanie explains that estate planning isn’t just for the wealthy or elderly—it’s about making decisions for your assets, health care, and loved ones in the event of incapacity or death. Even an 18-year-old should consider powers of attorney. * Triggering Events: Major life changes—marriage, divorce, relocation, childbirth, a family member’s passing, or acquiring new assets—should prompt a review or update of your estate plan. * Human vs. AI: Stephanie discusses why estate planning is not easily replaced by AI. Real planning requires understanding emotional family dynamics, nuanced contingencies, and individual intentions that can’t be captured by generic templates. * Common Mistakes: Errors such as missing beneficiaries, outdated documents, or naming the wrong individuals can derail even the best intentions. Stephanie shares real-world examples, including a client who unknowingly left one of their children out of their will. * Beneficiary Designations Matter: Many forget to update beneficiaries on accounts like 401(k)s or life insurance. These often default to ex-spouses or outdated names, bypassing the current estate plan entirely. * Must-Have Documents: At minimum, adults should have: * Financial Power of Attorney * Health Care Directive * A Will or Trust, depending on their needs * Costs and Timelines: Most estate planning is done on a flat-fee basis. A typical process can take about 6 weeks, though complex plans may take longer. Transparency about cost and scope up front is key. * Why Work With a Specialist: Not all attorneys are estate planners. Stephanie advises clients to ask how many estate plans an attorney has completed and seen through in real life, as experience matters deeply in this field.

The Tax Storm of 2025: Your Financial Survival Guide

In this timely episode of Kaz's Korner, host Adam Kazinec and guest expert Blaise Stevens, Managing Member of Strategic Advisory Partners, prepare listeners for the approaching tax changes of 2025-2026. As the potential sunset of the 2017 Tax Cuts and Jobs Act looms, they provide practical strategies for weathering the upcoming financial shifts. The discussion begins with immediate action steps for tax preparation, focusing on retirement account strategies that remain valuable regardless of future changes. Stevens reveals that about half of company retirement plans lack "true-up" provisions, a detail that could cost employees thousands in matching contributions if not properly managed. They explore new opportunities coming in 2025, including enhanced catch-up provisions for those aged 60-63, offering a silver lining amid the tax changes. While the prospect of higher tax brackets in 2025 might seem daunting, the experts break down the real impact on different income levels. For example, they explain how a married couple making $120,000 might only see an actual tax increase of about $600 annually, demonstrating that with proper planning, these changes are manageable for most households. They emphasize that understanding the graduated tax system is crucial - only the dollars in each bracket are taxed at that rate, not your entire income. The conversation takes a deep dive into protective strategies for business owners, who may face particular challenges with the potential loss of pass-through business deductions. Stevens and Kazinec stress the importance of understanding the difference between deductions and credits, cautioning against common year-end mistakes like unnecessary equipment purchases purely for tax purposes. Instead, they outline more effective approaches through retirement plans and profit-sharing strategies. Estate planning emerges as a critical component of long-term tax protection. The experts address concerns about state-specific estate and inheritance taxes, with particular attention to states like Maryland that impose multiple layers of death-related taxes. They also tackle modern challenges like digital asset and cryptocurrency inheritance planning, providing guidance for protecting wealth in all its forms. The episode concludes with often-overlooked protective strategies, including maximizing Health Savings Accounts (HSAs) as tax-efficient investment vehicles and leveraging charitable giving strategies. These approaches can help create tax efficiency now while building protection against future tax increases. For listeners seeking professional guidance through the coming tax changes, Blaise Stevens can be reached through Strategic Advisory Partners' website at strategicadvisorypartners.com. Note: This episode was recorded in late 2024 and discusses forward-looking tax changes and planning strategies applicable to that time period.

Understanding Employee Benefits: A Strategic Approach for Business Success

In the latest episode of Kaz's Korner, host Adam Kazinec sits down with Kosta Fred Bozzuto, a certified employee benefit specialist from KF Benefits, to dive deep into the world of employee benefits. With open enrollment season approaching, this timely discussion offers valuable insights for both business owners and employees. Key Benefits Bozzuto breaks down the two main types of health insurance plans that businesses typically offer: * Co-pay Plans: These traditional plans feature set co-payments for doctor visits and are particularly beneficial for families with children or those who regularly visit healthcare providers. While premiums may be higher, the predictable costs for medical visits can make budgeting easier. * High Deductible Health Plans (HDHP): These plans often come with lower premiums and access to Health Savings Accounts (HSAs). They're particularly suitable for younger, healthier employees or those who rarely need medical care. HDHPs can also be advantageous for individuals with known high medical expenses who are likely to meet their deductible. The Business Case for Benefits The discussion emphasizes how a comprehensive benefits package is crucial for: * Employee retention and recruitment * Competing with larger companies * Creating a more productive workforce * Reducing turnover costs (estimated at 33% of an employee's salary) Strategic Approach to Benefits Bozzuto recommends several strategies for businesses: 1. Offer multiple plan options to accommodate diverse employee needs 2. Regular review of benefits packages (at least annually) 3. Survey employees about their benefits preferences (while maintaining HIPAA compliance) 4. Consider additional benefits like dental, vision, and disability insurance 5. Start with a minimum of two W-2 employees for group coverage The Bottom Line The episode underscores that employee benefits are not just a cost center but a strategic investment in your business's success. As Bozzuto notes, "Happy employees who have less to bring to work with them as baggage are much more productive." For Business Owners If you're considering implementing or updating your benefits package, start by: * Assessing your employee demographics and needs * Consulting with a benefits specialist * Understanding the tax advantages of offering benefits * Considering the full range of available options beyond health insurance For Employees During open enrollment: * Review your previous year's healthcare spending * Consider anticipated medical needs for the coming year * Understand your total exposure (annual premium plus out-of-pocket maximum) * Take advantage of tax-advantaged accounts like HSAs when available