Tag Archives: financial planning

Episode 30 – How Peer Advisory Groups Help You Learn From Fellow Business Leaders –– With Joe Phillips of The BEST CEO Group



When business leaders from different industries come together, it can lead to a diverse set of perspectives that challenge you to think differently, and help you make better decisions. 

In this episode, Derek Myron is joined by Joe Phillips, founder and chairman of The BEST CEO Group. With nearly 23 years of experience in running businesses all over the world, Joe shares how he coaches and mentors several CEOs to improve their leadership skills and business acumen through his highly exclusive peer advisory group.

You will learn:

  • What Joe’s three peer groups are all about – and how they serve CEOs and their key employees
  • How a diverse group of businesses can help you broaden your scope of knowledge
  • Why sharing your issues with fellow executives can be highly impactful
  • What differentiates The BEST CEO Group from other peer advisory groups
  • And more!

Tune in now to learn how you can glean insights from fellow business leaders and enhance your leadership skills!

Resources: Centura Wealth Advisory: (858) 771-9500 | Derek Myron on LinkedIn | Joe Phillips on LinkedIn | The BEST CEO Group | Contact Joe Phillips at: Joe@thebestceogroup.com


Episode 29 – The Potential Impact of New Tax Proposals on Capital Gains Tax and Estate Planning



With the For The 99.5% Act proposal, estate tax and capital gains tax are expected to rise drastically starting in January 2022. Several tax benefits might also be eliminated.

What can you do now to minimize the impact of this act on your estate planning?

Derek Myron and Kyle Malmstrom answer this question in this episode. They discuss what the new tax proposal entails, the implications if it is passed, and things you can do before the 2021 year-end to minimize your estate taxes and ensure maximum wealth transfer to your beneficiaries.

You will learn:

  • Tax saving opportunities posed by the current, all-time high benefits
  • Why you should contact a professional and begin estate planning as early as possible
  • The benefits of IR-2019-189 regulations for your estate and gift taxes
  • Strategies to build a blueprint for efficient estate planning
  • And more!

Tune in now to learn how you can prepare yourself to deal with the expected tax changes!

Resources: Centura Wealth Advisory: (858) 771-9500 | Derek Myron on LinkedIn | Kyle Malmstrom on LinkedIn


Episode 28 – Finding the Right Insurance P&C Coverage for Your Business –– With Pamela Holden of Alliant Insurance Services



Insurance is a necessary risk management tool, but many business owners struggle with finding the right coverage, carrier, and riders, to meet their unique business.  But when a claim happens, who is on your side to navigate the complex and often misunderstood claims process?

In this episode, Jonathan Freeman is joined by Pamela Holden, Vice President at Alliant Insurance Services. With experience in law, accounting, and insurance, Pamela shares her expert insights on effective risk management strategies to help business owners get the best coverage for their needs.

You will learn:

  • How failing to focus on small details can cost you millions of dollars
  • Why you, as a business owner, should talk directly to the underwriters about your insurance needs
  • Why you should verify that brokers have a variety of subject matter experts on their team
  • Business risks posed by COVID-19 and ways to deal with them
  • And more!

Tune in now to discover best practices to minimize your business risk through insurance!

Resources: Centura Wealth Advisory | Jonathan Freeman on LinkedIn | Pamela Holden on LinkedIn | Contact Pamela: (858) 692-6945 | Email: pam.holden@alliant.com | Alliant Insurance Services, Inc. | Live Life Liberated, Episode 12 – Manage Business Risk with Potential for Financial Upside – With Guest Mark Sims of Captive Alternatives


Episode 27 – ESOPs as a Powerful Exit Planning Tool –– With Roy Farmer of Business Transition Advisors — Part 1



Selling your business to private equity firms might get you the highest sale value. But, it might not be ideal for your employees.

In part one of this two-part series, join Kyle Malmstrom and Roy Farmer, Managing Director at Business Transition Advisors, as they talk about a highly effective tool for exit planning –– Employee Stock Ownership Plans (ESOPs). They also discuss the key advantages offered by an ESOP and at what point is it the most suitable option for your business exit.

You will learn:

  • How to ensure that your employees are taken care of after you exit the business
  • The major tax benefits of an ESOP that could potentially save you millions in federal and state taxes
  • Ways to maintain control over your business even after you’ve sold 100% of your stock
  • How the benefits of an ESOP outweigh the costs involved
  • How ESOPs often end up with a significant competitive advantage due to tax savings
  • And more!

Tune in now to learn how an ESOP can benefit you, your company, and your employees!

Resources: Centura Wealth Advisory | Kyle Malmstrom on LinkedIn | Roy Farmer on LinkedIn | Contact Roy: (208) 761-3612 | Business Transition Advisors | An Introduction to ESOPs by Scott Rodrick


Episode 26 – Looking at the M&A Landscape Through a Legal Lens –– With Paul Johnson of Procopio



Most business owners don’t realize the importance of compliance until they take their business to the market and are bombarded with questions from prospective buyers.

In part three of our M&A series, Derek Myron joins Paul Johnson, partner at Procopio, to discuss the key legal aspects of every M&A deal. Join them as they address the common complications that may arise, from a legal and compliance standpoint, while selling your business. They also provide several tips to help you get everything in order well before the time of the sale.

You will learn:

  • The expected market trends for 2021 – and various business and legal risks posed by COVID-19
  • How a potential increase in capital gains taxes might affect your business decision
  • Reasons to start preparing at least 12 months prior to the sale
  • How the initial price on a Letter of Intent (LOI) can decrease subject to multiple factors
  • The importance of consulting a lawyer that specializes in M&A instead of your general counsel
  • And more!

Tune in now to gain a deeper understanding of the legal components of M&A!

Resources: Centura Wealth Advisory | Derek Myron on LinkedIn | Paul Johnson on LinkedIn | Procopio


Episode 25 – The M&A World: How To Get the Best Value for Your Business –– With Eliot Peters of RA Capital



The sale of a business is probably the most important transaction for every business owner and their family. It’s a life-changing event.

In part two of this M&A series, Derek Myron talks to Eliot Peters, managing director at RA Capital Advisors, to explore the growing opportunities in the M&A space. Considering that interest rates are at an all-time low and there are an increased number of strategic buyers, now might be the best time to get maximum value for your business.

You will learn:

  • What key macro forces are influencing the M&A landscape
  • Reasons to not rush into any decisions about selling about your business (and what to do instead)
  • Ways that the expected tax regime might affect your business sale
  • How to organize your company to look and feel more professional for  buyers
  • How RA Capital helps family-led businesses enter highly beneficial M&A deals
  • And more!

Tune in now to discover the increasing opportunities in the M&A world and get several tips on maximizing your business value!

Resources: Centura Wealth Advisory | Derek Myron on LinkedIn | Eliot Peters on LinkedIn | Email: Epeters@raca.com | RA Capital Advisors


Episode 24 – What Is In Store Under the Biden Administration Tax Regime and How You Can Prepare



Now that we’re through the elections, and the Senate runoff, it’s time to look at the expected tax and estate law changes coming down the line under the new administration.

In this episode, Derek Myron and Kyle Malmstrom discuss some of the major tax changes expected to be announced in the coming years. They dive into various strategies to minimize the impact of the increased income and estate taxes on your finances.

In this episode, you will learn:

  • The potential implications of the Biden Administration’s proposed income tax reforms 
  • Ways to effectively transfer your wealth to your children with minimal taxes
  • How the Spousal Lifetime Access Trust (SLAT) helps you use your estate tax exemptions more efficiently
  • Why you must start planning early to benefit from multiple options that might not be available once legislative changes are enacted
  • How to make the most out of the current low interest rate environment
  • And more!

Tune in now to learn how you can be proactively prepared for the expected tax changes!

Resources: Centura Wealth Advisory | Derek Myron |  Kyle Malmstrom 

 


Episode 23 – Why You Must Consider Selling Your Business Through the ING Trust Strategy – Part One — With Guest Mark Morris



Business owners in California: Do you plan to sell your business in the near future?

If so, we have a way for you that can help you minimize taxes – the ING trust. But hurry up, because this option might not be available next year to California residents!

In this episode, Kyle Malmstrom is joined by Mark Morris, Senior Tax Counsel at LevitZacks, to discuss how the ING strategy can help you with your business sale by substantially reducing your state income tax on the sale. They also discuss some other scenarios where this strategy can be equally impactful at the federal level.

In this episode, you will learn:

  • The major hurdles that the ING strategy helps you overcome
  • What the new California legislative proposal entails – and its implications, if it’s successfully passed
  • Why Mark strongly recommends that the sale of the business happens this year for optimal results, but options if it doesn’t
  • How to take advantage of the ING trust even if you don’t yet have a buyer for your business
  • And more!

Tune in now to learn how you can make the most out of ING while it lasts!

Resources: Centura Wealth Advisory | LEVITZACKS | Mark Morris | Episode 11 – WINGs, NINGs, DINGs. And Other ThINGs – With Mark Morris of Levitzacks


Episode 22 – How Small to Medium Businesses can Leverage Fractional CFO/Accounting Services to Help Their Business Grow – with Guest Jennifer Barnes, CEO of Optima Office



Optima Office provides their clients with fractional CFOs, accounting services and HR services to help drive profits and reduce risks with their tailored business solutions.  

In this episode, Jonathan Freeman speaks with Jennifer Barns, CEO and Founder of Optima Office to discuss her inspiring story of how she started her business, the growth she’s experienced with business owners of all types and industries,  and how they may be able to help you!

In this episode you will learn:

  • What are fractional accounting services, who is Optima Office and who the company serves
  • The start-up story of Jennifer Barns and Optima Office
  • What Jennifer does for business owners, and how Optima differs from their competition
  • The client base of Optima Office — and who may not be the right fit
  • What CFO support is and whether your business should utilize it
  • How business owners can prepare for 2021 and their business plan
  • And more!

Tune in to learn more about Optima Office and how they can help your business succeed!

Resources: Centura Wealth Advisory | Jonathan Freeman | Jennifer Barns | Optima Office


Episode 21 – Boost Your Business Retirement Plan Strategy – with Guest Tom Burns



Whether it’s for employee retention, tax planning, or a combination of the two, creating a retirement plan for yourself and your employees is a cornerstone of planning as a business owner. 

In this episode, Kyle Malmstrom speaks with Tom Burns, president at Premier Plan Consultants, to discuss the business retirement planning process. Tom explains the importance of involving a third party administrator like Premier Plan Consultants in order to develop a strategy specific to your business goals.

In this episode you will learn:

  • How COVID, and the new laws it brought into effect, have impacted business retirement planning
  • The tax planning tools that come into play with retirement planning for your business
  • How employee benefits compare to owner benefits in your retirement plan
  • The steps you should be taking in your planning in 2021
  • And more!

Tune in to take the first step to align your retirement plan with your business goals.

Resources: Centura Wealth Advisory | Kyle Malmstrom | Premier Plan Consultants | Tom Burns