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!

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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.

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#JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #TaxAdvisory #401H #TaxSavings #RetirementPlanning #HealthBenefits #FinancialStrategies #AdvancedRetirementDesign #BusinessBenefits

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!

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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.

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#JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #Communication #ValueProposition #TaxAdvisory #Persuasion #SilverBullet #AITax #TaxAI #TaxPros

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!

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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.

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#JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #Accounting #WealthManagement #InvestmentStrategies #TaxSavings #Arbitrage #CapGains #InsuranceLiquidation #TaxDeferral #captive #insurance