Everything Money

By Stephen Rosen and Leah JonesBusiness Investing

Everything Money episodes

March 03, 2021Current Tax Code Changes and Opportunities for Tax Planning w/ Louis Ruebelmann
In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Louis Ruebelmann, a CPA and CFF at Mendelson & Mendelson about recent and upcoming tax changes and opportunities to help with tax planning. Louis has worked with individuals and businesses in tax planning since the 1970s. He shares guidance in regards to the Paycheck Protection Program (PPP) loan and the stimulus checks that provided financial relief during the COVID-19 pandemic. He also discusses the changes with the charitable contribution allowance and education deductions and credits.

“That payroll number is absolutely key. It must be 60%.” -Louis Ruebelmann [02:55]

What You Will Learn:
[00:47] Louis’ guidance on the Paycheck Protection Program (PPP) loan
[03:51] How the loan forgiveness work on a tax perspective
[06:50] How a business owner can take a second PPP loan in 2021
[09:38] The shift in deducting meals in 2021 and 2022
[13:29] Things for business owners to know or think about for upcoming tax opportunities
[15:16] What individuals should know about stimulus checks
[18:38] The changes in the charitable contribution allowance
[23:31] How taxes play into retirement account withdrawals for COVID-19 relief
[26:32] The changes to education deductions and credits
Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You

Resources:

Visit our website: https://bethesda.hightoweradvisors.com

Visit Mendelson & Mendelson website: http://www.mendelsoncpa.com/
33 min
February 17, 2021The Process of Pension Property Division During Divorce for Federal Employees
This episode was previously released in 2020, but we wanted to rerelease this episode coinciding with Jessica Markham's book release of, Representing Federal Employees and Their Spouses, a Practical Guide.
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Meet Jessica Markham, a family lawyer that practices in Maryland and Washington DC. She has many honors and awards to her and her firm’s credit including best lawyer in America and the best divorce attorney in the Bethesda area. She started her law firm about 5 years ago and is often sort after by federal employees going through a divorce.
In this episode of the Hightower Bethesda Divorce Series, Jessica joins Sarah as they scrap the surfaces of nuances of being a Federal employee going through a divorce. She’s best suited for this topic since she is in the process of publishing a 600-page book on the topic.
Listen in to learn different factors that apply when it comes to the division of pension property for federal employees during a divorce.
What you will learn:
[2:37] Factors to consider when dividing in a divorce for federal employees.
[4:03] What portions of the annuity is the spouse entitled to?
[6:57] The legal formulas that are used to divide pension property- what it means and how other properties impact that.
[9:47] Jessica explains how long a couple has to be married for the pension law to apply.
[11:16] Why this law applies to govt employees that are living but don’t have to be working.
[13:20] She explains in math how much a spouse or a surviving spouse gets in pension benefits.
[17:08] How to understand and negotiate the survivor benefits and who pays the cost of it.
[19:13] What is remarriage restructuring? How does it work in survivor benefits and pension law?
[22:40] How different types of social securities affect the pension and why you have to keep these in mind when negotiating.
[28:12] Why you need to think about the cost of living adjustments and supplemental annuity.
Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You
Guest’s Contacts:
Website: https://www.markhamlegal.com/jessicamarkham
Book: https://www.representingfederalemployees.com/aboutthebook
35 min
February 03, 20212021 Year Projections with Michael Zoller, Senior Investment Analyst for Hightower Bethesda
In this episode, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Michael Zoller, Senior Investment Analyst for Hightower Bethesda, about financial projections for 2021. Every year, the company lists 10 investment themes in January. Michael shares his thoughts on these themes and his forecast of what the economic recovery will look like after a year of the COVID-19 pandemic and the 2020 Presidential election that resulted with a new administration.

“With this pent-up demand issue that I talked about earlier, Americans are going to run out and buy, buy, buy. That has the potential to lead to a spike in inflation, but that’s going to be different than a structural increase in inflation.” -Michael Zoller [16:23]

What You Will Learn:
[01:12] Hightower Bethesda’s macro view going into 2021
[04:26] How potential higher taxes could play into the recovery this year
[05:41] The biggest takeaway for economy recovery
[09:41] Forecast for the equity markets and what it mean for technology and growth
[13:52] Projections for fixed income and bonds
[15:46] If there's’ a risk of inflation and how home prices factors in
[22:57] Michael’s final thoughts on small caps and emerging markets
Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You

Resources:

Visit our website: https://bethesda.hightoweradvisors.com
28 min
January 22, 2021Defined Benefit Plans: A Retirement Plan Every Small Business Owner with No Employees Should Have
In this episode of the Hightower Bethesda podcast, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Philip Pirio, Senior Plan Design Consultant for Dedicated Defined Benefit Services about defined benefit plans for business owners with no employees and 1099 income. Listen to how these plans are a great way to maximize retirement savings and minimize taxes. Phil discusses these plans with real world examples, what to keep in mind when setting one up and what happens if you terminate the plan.

“The closer you are to retirement age, the fewer years you have to put into that plan to reach the goal that’s defined as the benefit. Therefore, the contributions get higher.” -Philip Pirio [10:46]

What You Will Learn:
[01:11] Narrowing the conversation
[03:14] What is a defined benefit plan
[06:25] Some contribution factors
[11:43] How this applies for someone who makes $1 million
[13:07] How to figure out how much to stash away
[15:48] What to think about when setting up a defined benefit plan
[20:27] What happens if you terminate the plan
[23:41] The maximum amount to put into a defined benefit plan
[25:48] Some real world examples
[32:39] Deadlines and taxes
[37:50] Phil’s closing thoughts

Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You

Resources:

Visit our website: https://bethesda.hightoweradvisors.com

Visit Dedicated Defined Benefit Services: https://www.dedicated-db.com/
43 min
January 08, 2021Tax Changes What You Should Be Thinking About
In this episode of the Hightower Bethesda podcast, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Jeffrey Gershen, from Aronson’s Tax Services Group, about potential changes under President Joe Biden’s upcoming administration. Jeffrey is a CPA that focuses on serving business owners and specializes in tax compliance, business planning and consulting. He discusses potential changes that might be in the pipeline with Biden’s proposed plans and mentions a few concerns he’s hearing from his clients. Listen to some of the strategies he suggests to be more proactive.

“I hate to say it, but death and taxes are certain, and you can also add that changes in taxes are always certain. So it keeps us engaged, but again, at the end of the day, it’s about being proactive and planning as much as you can, but you have to be flexible too.” -Jeffrey Gershen [29:47]

What You Will Learn:
[1:05] The most pressing tax items that could change during the next presidency
[4:45] Top 3 concerns Jeffrey is hearing from clients
[14:08] What could change with the estate tax exemption
[20:27] Using Apple as an example
[21:13] The elimination of the long-term capital gain break
[22:09] Corporate tax rate and 1031 exchanges
[23:56] The timeframe for the Tax Act of 2017
[25:01] Some strategies to consider to be proactive
[26:47] Advice regarding the Paycheck Protection Program (PPP) loan
Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You

Resources:

Visit our website: https://bethesda.hightoweradvisors.com

Visit Aronson’s Tax Services Group: https://aronsonllc.com
33 min
December 07, 2020 Speculating President Biden’s plans with Jeffrey Gershen
In this episode of the Hightower Bethesda podcast, Leah Jones, Director of Financial Planning for Hightower Bethesda, talks to Jeffrey Gershen, from Aronson’s Tax Services Group, about potential changes under President Joe Biden’s upcoming administration. Jeffrey is a CPA that focuses on serving business owners and specializes in tax compliance, business planning and consulting. He speculates potential changes with Biden’s proposed plans and mentions a few concerns he’s hearing from his clients. Listen to some of the strategies he suggests to be more proactive. “I hate to say it, but death and taxes are certain, and you can also add that changes in taxes are always certain. So it keeps us engaged, but again, at the end of the day, it’s about being proactive and planning as much as you can, but you have to be flexible too.” -Jeffrey Gershen [29:47] What You Will Learn: [1:05] The most pressing tax items that could change during the next presidency[4:45] Top 3 concerns Jeffrey is hearing from clients[14:08] What could change with the estate tax exemption[20:27] Using Apple as an example[21:13] The elimination of the long-term capital gain break[22:09] Corporate tax rate and 1031 exchanges[23:56] The timeframe for the Tax Act of 2017[25:01] Some strategies to consider to be proactive[26:47] Advice regarding the Paycheck Protection Program (PPP) loan Resources: Visit our website: https://bethesda.hightoweradvisors.com Visit Aronson’s Tax Services Group: https://aronsonllc.com
33 min
November 13, 2020Women + Finances with Jordann Andrusiak
On one hand, women are earning more, they’re more dominant in terms of controlling household spending, and they’re becoming more interested in finance. On the other hand, only 15% of financial advisors are women… so how do we address this gap?
In this episode of the Hightower Bethesda Podcast, Leah Jones, Director of Financial Planning at Hightower Bethesda speaks with fellow female financial advisor within the Hightower umbrella, Jordann Andrusiak. Jordann works for a team called Synergy Capital Solutions and has a wealth of experience in advising women.

Together they discuss the reasons why women are still falling behind in making money and investing, despite the progress they’ve made in education, decision-making, and their careers, as well as how women can feel more confident when dealing with finances. They speak on the common issues they’ve seen in advising female clients and the solutions that can help bridge the gaps in wealth and the financial world.

Listen in to hear powerful insights and advice that will change the way you think about your finances, your wealth, and your future.

What You Will Learn:
[0:19] Surprising statistics about women and wealth
[3:30] About Jordann + The topic of discussion
[4:28] Reasons why women are still falling behind in investing and making money
[11:58] What women can do to help them feel more financially confident
[13:26] Common issues they have seen with her financial advising clients: Understanding your financial plan, empowered budgeting, starting with the big numbers and accomplishments, risk aversion, diversifying investments
[21:33] Solutions for common issues in finance: Having conversations with other people, gaining fundamental knowledge, and finding a trusted advisor
[22:42] How you can prioritize your financial health + The importance of tracking your finances and educating yourself
[26:29] Jordann and Leah’s advice for taking control of your finances and leaving a healthy legacy of wealth for your children
[30:47] Outro + Disclaimers
Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You

Resources:
To learn more about Hightower Bethesda, visit their website: www.bethesda.hightoweradvisors.com
33 min
October 29, 2020 Market Outlook 2020 Getting Past the Elections & Beyond
A look at the disconnect between the market and economy now and a look at what’s potentially in store for the market over the next few years.

[1:10] Why the disconnect between the stock market and the economy?
[4:29] 3 market outlooks with milestones for key factors on progress and timeframes associated with those stages, Act 1 now through the election – unlocking uncertainty
[9:57] Don’t let negative political sentiment cause you to miss out on returns
[11:14] Act 1 continued, removing uncertainty around COVID-19 through herd immunity and timeframe
[13:45] Act 2 – 4.3T in cash with potential to enter the market and historical context on this happening in past.
[15:56] Timeframe on cash getting invested in the stock market with surfing analogy
[17:12] Fear of taxes going up and realistic timeframe on changes to tax code
[19:21] Laws made in congress not the White House
[21:48] Act 3 – taxes on corporations go up and potential consequences on the stock market
[25:23] Summary of Acts

Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You
30 min
September 25, 2020Financial Literacy and Transparency in Marriage and Divorce
Meet Meg McKenny, the former founding partner of Delaney McKinney and recently founded McKinney Figini. She has over 27 years of experience practicing family law and is sought after for her negotiations, trial skills, and has made integrity and reliability central facets of her legal practice.
In this episode, Leah is joined by Meg McKinney as she explores the topic of financial literacy and transparency in marriage and divorce. She dives deep into the process she as a family lawyer takes couples through to educate them on how to manage their financial situations.
Listen in to learn the importance of having an open mind when considering a prenup agreement before marriage. You will also learn how divorce law works in the state of Maryland.
What you will learn:
[1:30] How she helps couples understand their financial situation during a divorce process- how the now and the future looks like for their finances.
[3:13] How a client’s tax return shows their financial situation and the process that follows after examining it.
[5:39] She describes the interview she conducts with clients to determine their financial literacy and why they need to get their own credit report.
[7:04] The red flags that show a lack of financial transparency with a client.
[9:47] The importance of financial literacy in marriage and ways in which people hide money with or without leaving footprints.
[11:56] The difficulty of splitting income when supporting two households.
[14:48] The importance of understanding your partner’s financial goals and expectations in marriage through a prenup- making sure you’re reading on the same page.
[18:58] Divorce law in Maryland- understanding how credit card debt and business ownership works.
[26:00] Meg shares her two favorite books that offer help with marriage and relationship management.
Books Mentioned:
The Seven Principles for Making Marriage Work- John M. Gottman
Marriageology: The Art and Science of Staying Together- Belinda Luscombe
Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You

Relevant Links:
Website: https://www.mckinneyfigini.com/
LinkedIn: https://www.linkedin.com/in/margaret-mckinney-26111813/
31 min
August 03, 2020The Process of Pension Property Division During Divorce for Federal Employees
Meet Jessica Markham, a family lawyer that practices in Maryland and Washington DC. She has many honors and awards to her and her firm’s credit including best lawyer in America and the best divorce attorney in the Bethesda area. She started her law firm about 5 years ago and is often sort after by federal employees going through a divorce.
In this episode of the Hightower Bethesda Divorce Series, Jessica joins Sarah as they scrap the surfaces of nuances of being a Federal employee going through a divorce. She’s best suited for this topic since she is in the process of publishing a 600-page book on the topic.
Listen in to learn different factors that apply when it comes to the division of pension property for federal employees during a divorce.
What you will learn:
[2:37] Factors to consider when dividing in a divorce for federal employees.
[4:03] What portions of the annuity is the spouse entitled to?
[6:57] The legal formulas that are used to divide pension property- what it means and how other properties impact that.
[9:47] Jessica explains how long a couple has to be married for the pension law to apply.
[11:16] Why this law applies to govt employees that are living but don’t have to be working.
[13:20] She explains in math how much a spouse or a surviving spouse gets in pension benefits.
[17:08] How to understand and negotiate the survivor benefits and who pays the cost of it.
[19:13] What is remarriage restructuring? How does it work in survivor benefits and pension law?
[22:40] How different types of social securities affect the pension and why you have to keep these in mind when negotiating.
[28:12] Why you need to think about the cost of living adjustments and supplemental annuity.
Our Contacts:
Website: http://bethesda.hightoweradvisors.com/
LinkedIn: https://www.linkedin.com/company/hightowerbethesda/
Facebook: https://www.facebook.com/HightowerBethesda/
Twitter: https://twitter.com/LeahPlans4You
Guest’s Contacts:
Website: https://www.markhamlegal.com/jessicamarkham
Book: https://www.representingfederalemployees.com/aboutthebook
33 min

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Hightower Bethesda helps clients optimize their wealth, protect their hard-earned legacies and pursue their passions.

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Everything Money

Everything Money episodes

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