They say two things are certain: death and taxes.  Our guest had not much to say about minimizing the former, but a TON on handling the ladder! Eli Weiner sat down (again) with the Wealth Preservation Podcast and walked through examples of how the current tax code (specifically that of accelerated depreciation) has helped many of his co-investors with realized capital gains tax pain. 

One of the most bittersweet feelings in the world of wealth accumulation is realizing a large gain from a sale of a business, property, or other investment, but then getting the bill from the tax man. Listen and learn more about how this strategy can mitigate the bitter. It might even make it sweet. 

A sweeter-sweet moment! 

This is likely not something your typical CPA or advisor would be privy to, since it is such a unique situation. Unique but VERY impactful! 

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You’ve heard the success cases before: a driven individual, graduates at the top of their class, star athlete, scholarship to a great school, stellar job out of the gate…it almost seems too perfect. Well here is a story of the NON perfect road to success!  

Eli Weiner, president and “trailblazer” of The BoaVida Group admits that he is not the textbook case for business success. He even jokes that learning from a textbook is not his strong suit. But that is the beauty of the entrepreneurial way! Eli found success in leaning into his strengths, reading autobiographies, working like a horse, and blazing his trail to success.  

So how did this former Denny’s night manager get on the Sacramento Business Journal’s 2017 top 40 under 40? Listen and find out!  

I dunno by grapes (c) copyright 2008 Licensed under a Creative Commons Attribution (3.0) license. http://dig.ccmixter.org/files/grapes/16626 Ft: J Lang, Morusque

IDGT, BDIT, GRAT, QPRT, CLAT, CRAT…. it’s all basic, right? NOPE! Jeff Stephens, attorney and partner at GVM Law, gives us stories and hypothetical examples of advanced estate planning and charitable planning. Fair warning: some of these tidbits are a little mind bending and complicated, BUT, that is kind of the point! Hearing stories of trusts in action can give some context as to when they are appropriate. It might also make you think, “Hey! That’s me!” 

If you need more information on these strategies…DON’T TURN TO US! Before our conversation with Jeff Stephens, we had a solid grasp on the concept of the trusts. After our conversation, we were reminded that these should be handled with the utmost care from a well-trained attorney! But, we’re always happy to help point people to valuable resources if needed. 

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Description: Families fight. Even yours! Want to throw in more complication to your generational wealth and legacy transfer? How about complex estate taxes, property taxes, state jurisdiction, and trust litigation? These seem daunting for many, but the right boutique law firm COULD keep the stress levels to a minimum and taxes at least bearable.

That’s why we sat down with attorney and partner Jeff Stephens at GVM Law, a boutique firm that focuses on high-end estate planning and wine law. Jeff walks us through some of the fears and complexities experienced when planning to transition a legacy from one generation to the next. One message he makes clear: early planning is more advantageous than rushed, last minute planning! 

We're back at The Monk's Cellar and nobody is too mad about it! Owner and brewmaster Andy Klein goes into detail about the business side of chasing his passion. It's kind of like "adulting" for business owners. Part of said "adulting" was switching to a CPA that could help him break down and streamline his brewery/restaurant model and track certain indicators. To provide more clarity, we have Lou Catalano from MUN CPAs, and Andy's trusted professional. Lou provides Andy (and many other breweries) guidance on taxes, strategies, and profitability tracking. 

Listen to how these two work together and see if you should make some changes to your strategy (or the team supporting you).

I dunno by grapes (c) copyright 2008 Licensed under a Creative Commons Attribution (3.0) license. http://dig.ccmixter.org/files/grapes/16626 Ft: J Lang, Morusque

We are visited by Andy Klein, owner and brewmaster of Monk Cellar, located in old town Roseville, CA. Also on this episode is Lou Catalano, the CPA and beer enthusiast who has helped Andy succeed in today's competitive beer and restaurant scene. 

What makes Andy's relationship with Lou different? Lou is a strategist and consultant. He doesn’t simply assess Andy’s business profits/losses and advise him his taxes due, but he listens to Andy’s visions and helps guide him through the tax complexities that would drain his tank (not in a good way). 

There is no blueprint for following your passion and succeeding as an entrepreneur. In this episode, Andy and Lou give us their stories of getting into business for themselves and share nuggets of knowledge they learned along the way. Great listen for anyone thinking, "I have a great idea, don't know where to start, but would love to become my own boss one day." 

(SPOILER ALERT: It's not easy. Hopefully this podcast helps)