The Financial Gravity Podcast

Julie Broad is the founder of BookLaunchers.com, a company built on helping people write, publish, and sell non-fiction books that help their business. A best-selling author herself, Julie started her company after several experiences with the frustrating and time-consuming process of publishing a book. On this episode, Julie talks about some of the advantages of writing and publishing a book, as well as some of her tips and strategies for making the process a painless and productive one. Tune in to find out more!

Key Takeaways:

[:19] John introduces his guest for this episode — Julie Broad.

[2:05] What does Julie do? Why would people want books to build their businesses?

[3:45] Julie and John discuss how writing a book can help business owners figure out different aspects of their business.

[6:23] John shares how he published his first book. Julie dissects his process and analyses the "painful" parts of his journey.

[13:15] How should you write a book? John and Julie discuss his style of writing and the purpose of writing a book.

[17:10] John observes that most people find it difficult to throw out a book. What implications does this have for publishing books?

[18:59] A book is not just better than a business card, it is better than a degree. Julie explains why.

[21:30] What are some other reasons why people would want to write a book?

[26:45] How does Julie help people who have a book they want to write?

[33:04] What has surprised or blindsided Julie along the way as she built her business?

[38:23] What is Julie's superpower? What is her weakness?

[42:41] What are some things to consider when thinking about a book title?

[46:29] It is important to understand the purpose of writing the book (e.g. for marketing purposes vs. to get content out) to get the right plan in place to achieve the client's end goals.

[52:11] Julie shares the underlying reason why she started her company.

[53:36] What is Julie's favorite app or technology?

BookLaunchers.com

"Financial Gravity Podcast Episode 15: Heroic Public Speaking — Michael Port"

"Financial Gravity Podcast Episode 70: Taylor Stevens — Being an Author is A Business Too!"

The Nest Egg Cookbook, by John Pollock

"Financial Gravity Podcast Episode 72: Michael Peticolas — Overcoming the Law to Pursue a Passion"

"Financial Gravity Podcast Episode 38: Dona Frank and Stephen Smith — The Challenges of Cannabis"

The New Tax Law: How to Make it Work for You and Your Business, by Ed Lyon

Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine, by Mike Michalowicz

Slack

Microsoft 365

Apple's financial geniuses use proactive tax planning to make their company even more valuable — and the recent Tax Cuts and Jobs Act of 2017 have inspired them to act again.

Key Takeaways:

[:22] If any corporation were to take over, it would be Apple, who are well on their way to becoming the world's first trillion-dollar company.

[1:10] Apple's financial geniuses use proactive tax planning to make their company even more valuable.

[1:47] Apple hasn't just offshored manufacturing operations they've also offshored their profits to take advantage of tax rates, saving them billions.

[3:58] We realise you don't have $52 billion to plan for but that doesn't mean you can't profit from planning too. So call Financial Gravity when you're ready to take full advantage of the new tax law and see how much iCash(?) we can put in your pocket.

Mentioned in This Episode:

Financial Gravity

Chris Moffett is the founder and Principal of Cloud Communications Group, an innovative company in the technology industry that is part affiliate business, part technology-based, part problem-solving, that serves a pretty big need in the marketplace. Chris and John discuss his unique offering in focusing on a company's business needs and bridging the gaps in their business by providing solutions to meet those needs. Chris also shares the biggest challenges and learning points he has come across in his venture so far. Tune in to find out more!

Key Takeaways:

[:18] John introduces his guest for this episode — Chris Moffett.

[1:04] What does Chris do?

[3:15] Chris shares his process for capturing client — it's not so much about selling a particular technology or product, but rather focusing on what the company needs.

[5:45] How does Chris determine exactly what product or technology a client needs?

[9:21] How can Chris still help clients who have made up their minds about which products they want to use?

[13:59] How did Chris create this business model?

[17:26] The biggest thing that has helped Chris is having a sense of empathy and being able to see things from their clients' perspective.

[20:17] John and Chris discuss how AI fits into Chris' business model and industry.

[22:01] The biggest threat to Chris' business is the proliferation of products.

[25:56] As someone with an eye on the future, does Chris keep track of what technology his clients are using in order to ensure that they are up to speed with the latest changes?

[26:48] How did Chris first start off his business? He has some advice on what not to do if you want to make the entrepreneurial leap!

[28:13] What has Chris learned about taxes, profitability, and running a business?

[33:25] What does Chris' team look like?

[35:22] What is Chris' superpower?

[38:42] What is Chris' biggest kryptonite?

[42:33] What apps or technology can Chris not live without?

[45:42] Get in touch with Chris via email or his website!

Chris Moffett on LinkedIn

Email Chris

Cloud Communications Group (CCG)

Financial Gravity Podcast "Episode 75: Ed Lyon — The New Tax Laws"

The New Tax Law: How to Make it Work for You and Your Business, by Edward A. Lyon, JD

Financial Gravity Podcast "Episode 42: Jason Kos — Growth through Human Analytics"

Financial Gravity Podcast "Episode 18: Mark C. Winters — Visionaries and Integrators in Entrepreneurial Leadership"

Rocket Fuel: The One Essential Combination That Will Get You More of What You Want From Your Business, by Gino Wickman and Mark C. Winters

Microsoft Office 365

Full Contact

Houston left behind more than just cash and securities — she left behind her music catalog, performance royalties, television residuals, and publicity rights. This left the IRS and Houston's representatives to battle it out over the valuation of her intangible assets.

Key Takeaways:

[:20] Whitney Houston died unexpectedly but the world will always treasure her legacy.

[1:05] Houston left behind a considerable financial legacy — estimated at $20 million for her only child.

[1:37] Houston's estate includes far more than cash — it includes her music catalog, digital performance royalties, movie and television residuals, and publicity rights — which are a lot harder to value!

[2:37] The IRS determined that Houston's representatives underestimated the value of her intangible assets, so they battled it out over the popstar's publicity rights.

[3:24] This isn't the first time this has happened; the case for Michael Jackson is still working its way through court.

[4:20] Careful planning is still in order to make sure your legacy goes where you want it going. So call Financial Gravity when you're ready to plan, and let us make beautiful financial music, together.

Mentioned in This Episode:

Financial Gravity

Aaron Hendon is in the real estate business with the Keller Williams Brokerage. However, Aaron has a different take on his industry and is changing the rules of the game. On this episode, Aaron shares how he has niched down and differentiated himself from the rest of his competitors to cater to the boomer market in a unique way, and his true passion of providing consumers with knowledge of the industry that will help them make better decisions. Tune in to find out more.

Key Takeaways:

[:20] John introduces his guest for this episode — Aaron Hendon.

[1:34] The real estate industry has low barriers to entry, but most people aren't able to build big businesses from it. How has Aaron been able to build his team in an industry that doesn't usually lend itself to team-building?

[5:35] How did Aaron make the decision to be involved in the negotiation process?

[7:07] Aaron explains the shortcomings and customer perceptions of the real estate industry that have caused its professionals to rest on their laurels, and fail to differentiate themselves.

[14:07] What is Aaron's niche?

[15:13] Aaron and John discuss the fascinating statistic of real estate agents getting more for their own homes by keeping the property on the market for longer.

[19:58] Another way Aaron has increased his success is by choosing a niche and focusing on a market where he has become the leader.

[23:40] How did Aaron figure out his niche and get started in serving the boomer market with value-added services?

[25:38] Aaron shares how he was able to scale his business, differentiate it, and now spread his knowledge to others.

[28:48] What is Aaron's process to share his knowledge of the real estate industry with consumers?

[34:46] John and Aaron address the idea of a servant's heart in all entrepreneurs.

[36:58] Check out Aaron's books and his website for some great resources.

Aaron Hendon on LinkedIn

Aaron Hendon on Keller Williams Realty

The Millionaire Real Estate Agent, by Gary Keller

Shortchanged by Shortcuts?: 44 Surprising Ways People Rip Themselves Off When Buying or Selling Their Home, by Aaron Hendon

Books by Aaron Hendon

Zillow Talk

Lee Caraher, is the Founder, President, and CEO of Double Forte, a Public Relations and communications firm founded in 2002. She is a specialist in communication, specifically intergenerational communication and communications with Millennials. On this episode, Lee and John discuss different methods of communication, particularly for dealing with millennials, as well as strategies for writing effective emails. Lee also shares her tips for creating an alumni program for former employees, and why this is so important going forward. Tune in for more!

Key Takeaways:

[:18] John introduces his guest for this episode — Lee Caraher.

[2:07] Who is Lee and what does she do?

[4:18] Lee is not really considered a PR expert, but rather an expert in the field of intergenerational talent. How did that happen?

[11:12] John and Lee discuss the 'Millennial problem' — it's not that all Millennials live up to the negative stereotypes but they are different from previous generations.

[16:36] What books has Lee written on this topic?

[17:54] What is an effective method of communication? Lee explains why 'command and control' is less effective than the 'communication around appreciation' method, especially when dealing with Millennials.

[20:40] Lee shares some methods of improving communication.

[24:22] As leaders, you need to adapt to the environment and the environment is changing. Lee shares some tips for more effective emails.

[29:11] Another thing to keep in mind about communication is how much more of it we have today. Businesses and teams need to figure out which channel to use for which purpose and stick to it.

[37:44] What is the boomerang principle? Lee shares her experiences of her employees who left and came back and the importance of training.

[43:05] Lee recommends creating an alumni program for your former employees. What are the benefits of having an employee program?

[49:40] Get more information about Lee and the work that she does via her websites.

Mentioned in This Episode:

Lee Caraher

Lee Caraher on Twitter

Double Forte

Books by Lee Caraher

"Financial Gravity Podcast Episode 29: Jessica Rhodes — Rock the Podcast!"

Seth Godin

Turn the Ship Around: A True Story of Turning Followers Into Leaders, by L. David Marquet

Slack

Asana

Smartsheet

SaneBox

"Financial Gravity Podcast Episode 59: Dmitri Leonov — Bringing Sanity to Your Inbox"

In 2009 the IRS launched the Registered Tax Return Preparer program which was based on an obscure 1884 law regulating representatives of civil war soldiers looking for compensation for their dead horses. Everybody was happy with the RTRP — except the Preparers (and maybe the long-dead horses).

Key Takeaways:

[:23] How do you know you're not paying too much in taxes when you do them yourself? And if you decide to call a pro, who do you call?

[1:40] In 2009 the IRS launched the Registered Tax Return Preparer Program which required Preparers to do three things.

[2:15] The IRS based their authority to start the RTRP based on an obscure 1884 law

regulating representatives of civil war soldiers looking for compensation for their dead horses.

[2:28] Everybody was happy except the Preparers — so three of them sued.

[3:02] The IRS suspended the program but kept charging PTIN fees for the program so 1 year later, a different set of Preparers sued again!

[4:11] Tax Preparers do a perfectly good job of telling you how much you owe — but not about how you can pay less. So call Financial Gravity when you're ready to save!

Mentioned in This Episode:

Financial Gravity TurboTax

Ed Lyon is Financial Gravity's Chief Tax Strategist. In this very timely episode, Ed and John discuss the Tax Cuts and Jobs Act of 2017. Many changes have come about as a result of this new tax law, and Ed and John analyze the main aspects that could affect small businesses and individuals. In particular, they discuss Section 199A on Qualified Business Income which could potentially have a huge impact on small business owners. Tune in to find out more about the changes in the tax law as well as how you could be benefiting from it and paying less in taxes!

Check out Ed Lyon's latest book, The New Tax Law for some great insights on navigating the tax reforms!

Key Takeaways:

[:19] John introduces his guest for this episode — Ed Lyon.

[:50] John and Ed are discussing the Tax Cuts and Jobs Act of 2017.

[5:40] It's not important what the new tax law does for the economy. Think about what it can do for you and your business instead.

[8:30] What is the middle ground that everyone can agree on?

[10:52] One of the really exciting things about this law is that proactive tax professionals will be able to help their clients save on taxes by helping them do planning under the new law.

[14:02] Ed highlights the addition of a new deduction — Section 199A on Qualified Business Income. What impacts does this have on small business owners?

[19:22] What other major changes have come about as a result of the tax reform on the individual side?

[25:36] Ed highlights some specific changes in the state and local income and property taxes.

[30:09] There are two specific opportunities that small business owners can capitalize on to lower the taxes that they pay.

[37:17] What is the strategy Ed suggests about using a C Corp as a retirement strategy?

[42:58] John and Ed discuss some examples of poor tax planning and how CPAs may not necessarily be helping you to save money on taxes.

[46:09] The section in the tax reform about Qualified Business Income is a game changer, but don't forget about the Internal Revenue Code!

[50:54] John and Ed discuss the impact of the new changes on cryptocurrency like Bitcoin.

[53:50] Ed brings up a change to the depreciation rules which has simplified making equipment purchases for business owners.

[57:55] Get your copy of the book The New Tax Law, and get in touch with Financial Gravity to start saving money on taxes!

Mentioned in This Episode:

Ed Lyon

Financial Gravity Podcast "Episode 4: Ed Lyon, President of Tax Coach System"

Financial Gravity Podcast "Episode 11: Ed Lyon — The Audit Boogeyman"

The Tax Cuts and Jobs Act of 2017

The New Tax Law: How To Make It Work For You And Your Business, by Ed Lyon

They say, "What goes up, must come down," and if you've owned bitcoin lately, you'd probably agree. But one thing that saying definitely doesn't apply to is College costs. Back in '97, College tuition cost around $16,000 and now the average cost is around $42,000 — and Colleges are beginning to turn to alternate funding sources.

Key Takeaways:

[:34] The average private College tuition was around $16,000 back in '97, around $25,000 in 2017, and is now around $42,000 today — and in-state college costs are rising even faster.

[1:00] Colleges are turning to alternate funding sources, including their endowments.

[1:19] America's richest 800 Colleges and Universities hold over $500 billion in endowments.

[1:59] The tax cuts and jobs act of 2017 imposes a 1.4% excise tax on net investment income of (some) private colleges — but excludes public schools.

[2:43] If any schools have too much money, it's the top shelf Ivy Leagues.

[3:33] Academic endowments have grown so large that they're starting to use the same tax strategies as the richest individuals.

[4:46] So here's the good news: You don't have to be an Ivy League university or have an Ivy League education to save big on your tax bill, you just need a proactive plan. So call Financial Gravity when you're ready for some real-world lessons on how to pay less.

Mentioned in This Episode:

Financial Gravity

Michael Micheletti is the Corporate Communications Expert at Unison Home Ownership Investors, a company that helps consumers own their own home by combining a mixture of debt and equity. Unison has been in the marketplace for about a decade and is the only company currently offering this service to consumers. Michael explains how his company does what it does, the benefits it has for consumers, and some of the challenges they face, especially at the state level. Tune in to find out more about this unique business, and how they are revolutionizing financial technology in residential real estate!

Key Takeaways:

[:20] John introduces his guest for this episode — Michael Micheletti.

[1:20] Who is Michael and what does his business do?

[4:43] What happens to the equity when a customer sells the house?

[6:17] From a business standpoint, what impact would it have if a consumer decided to keep their house for an extended period, e.g. 30 years?

[8:45] Michael discusses one of the challenges he faces in his business — the home tenure rate has increased, and this speaks to one of the problems with inventory.

[11:00] What are the tax issues surrounding this industry?

[14:40] How is Michael's business made possible?

[17:48] Why is Michael's business problematic in certain states?

[22:50] Michael explains how his business affords customers the flexibility to get the support they need from Unison.

[25:50] On the homebuyer front, Unison is the only company that is offering consumers this service.

[28:01] How did the idea for the company come about? Michael shares a little about the company history.

[32:21] There has been an explosion in the shared economy system and Michael's business fits perfectly into the system.

[37:08] John and Michael discuss some alternative housing ideas for the future and the changes in mindset that have primed the marketplace for Michael's business.

[44:49] Get in touch with Michael via his website to find out more!

Mentioned in This Episode:

Unison Home Ownership Investors

Michael Micheletti on LinkedIn

Uber

Loftium

WeWork

Venmo

Zillowtalk, by Spencer Rascoff and Stan Humphries