What’s Kenner French Thinking!

In this episode of Vast Voice, R. Kenner French and Liliana Falconer dive into the essentials of tax planning for entrepreneurs. Lily comes in unaware of the topic, adding spontaneity to the discussion, while Kenner emphasizes that this quick episode is designed to deliver powerful insights in under three minutes. Their goal: help business owners understand why tax planning should never be an afterthought.

They begin by highlighting a common truth—most people don’t prioritize taxes until the last moment. Lily points out that many individuals scramble to gather receipts, while Kenner explains that this reactive approach almost always leads to higher tax liabilities. Waiting until April 15 leaves taxpayers with little flexibility to make useful changes. Simply put, last-minute filing often results in writing a larger check to the IRS.

Kenner stresses that true tax reduction happens throughout the year, not at the deadline. Planning as early as January 1 allows entrepreneurs to structure strategies, adjust cash flow, review employee numbers, and evaluate past liabilities to project forward. Quarterly meetings with a tax professional can significantly reduce tax burdens by catching opportunities proactively rather than retroactively.

The conversation also contrasts two types of tax professionals: those who “drive using the rear-view mirror” and those who look ahead. Lily summarizes the lesson perfectly with an analogy, entrepreneurs should “rip off their rear-view mirrors” and focus on the road ahead. Proactive tax planning removes obstacles before they become problems and ensures a smoother, more predictable financial journey.

Kenner closes by reinforcing that entrepreneurs need advisors who plan forward. If a tax provider can’t help you strategize before tax season, it may be time to find one who can. VastSolutionsGroup.com aims to add value by guiding entrepreneurs toward better decisions year-round. With that, Kenner and Lily wrap up another concise yet impactful episode on financial clarity and smarter tax planning.

Takeaways

• Most people fail to prioritize taxes until the last minute.

• Tax planning works best when started on January 1, not April 15.

• Proactive planning can significantly lower tax liability.

• Quarterly meetings with a tax professional provide major advantages.

• Tax professionals who only “look backward” limit your savings potential.

• VastSolutionsGroup.com focuses on projecting forward, not reviewing the past.

• Early planning allows adjustments in cash flow and employee numbers.

• Entrepreneurs should remove obstacles early through strategic planning.

• A good tax advisor should guide you all year—not just during filing season.

• Forward-focused tax strategy leads to smoother finances and less stress.

Sound Bites

• Rip off your rear-view mirrors and look ahead.

• We don’t look backward; we project forward.

• If your tax pro can’t save you early, you’ve got issues.

Listen & Subscribe for More:

🎧 The Vast Voice Podcast → Available on Spotify & Apple Podcasts

▶️ Subscribe on YouTube (@VastSolutionsGroup.com) for expert insights 🚀

📚 Don’t miss Modern Millions by R. Kenner French – the #1 BEST SELLING Amazon book (Entrepreneurship category) 👉 ModernMillions.ai

📚 Amazon Top Selling Author→ https://www.amazon.com/dp/B0FHBS32LG

Got Questions? Reach Us Anytime:

🌐 VastSolutionsGroup.com

📞 415-212-8189

📧 [email protected]

🕗 Monday–Thursday | 8:00 AM – 5:00 PM (Pacific)

🙏 Thank you for listening & supporting!

R. Kenner French sits down with “coach of coaches” and real estate leader Eric Brewer to break down how entrepreneurs and investors can elevate their businesses, assets, and mindset. Kenner opens by asking Eric for one major piece of advice, and Eric reveals a shift that every entrepreneur must make: stop doing the work yourself and start developing the people who do the work. Scaling isn’t about grinding harder—it’s about building teams, processes, and leaders.

Eric shares his personal journey, which didn’t begin with big credentials. He was nearly a high school dropout, uninterested in college, and unsure of his direction. Joining the U.S. Army gave him structure, but when he returned home, he lacked civilian skills. He took a basic job parking cars at a dealership and worked his way into sales through discipline and consistency. He eventually became the #1 salesperson for 30 straight months before transitioning into mortgages, and later real estate, after a former boss invited him to partner in 2006. From there, they scaled quickly—flipping 70 houses their first year, then hundreds annually—eventually building one of the most active operations in their region.

Eric describes how the 2008 crash shaped him. Real estate had felt easy in 2006, but when the market collapsed, many investors disappeared. Eric’s team pushed forward, thanks to a liquid and fearless mentor. Buying during the downturn taught them lessons that would guide every future year. Eric emphasizes that the best real estate deals begin long before the purchase—they begin with strong systems.

The conversation shifts to coaching. Eric and his partners are known as the “funnel fixers”, helping business owners repair broken sales pipelines. He shares a story of a company overwhelmed with low-quality leads, burned-out staff, and poor conversion. By eliminating bad leads and training the team properly, they cut their leads in half but doubled their income in 90 days. Eric’s long-term mission is to teach entrepreneurs how to prevent funnel failures instead of reacting once revenue declines.

Looking ahead, Eric shares the future for both sides of his business. Through RampREI, they provide sales training, leadership development, and “growth partner” arrangements where they operate key parts of a business—marketing, leadership, sales management—so entrepreneurs can focus on what they do best. On the real estate side, his company Integrity First Homebuyers plans to expand into 10 markets by 2027, targeting 1,000 annual deals and approximately $20 million in net profit. His message stays consistent: when you build people and systems, you build wealth, opportunity, and a meaningful life.

Takeaways

• In 2006, early challenges in real estate felt like a curse.

• Overcoming challenges has made subsequent years easier.

• The speaker has completed over 5,000 real estate deals.

• The focus is on central PA, Pittsburgh, and Philadelphia markets.

• Expansion into Baltimore has broadened market reach.

• Each market has its unique characteristics and opportunities.

• Learning from setbacks is crucial for growth.

• Building a diverse portfolio is essential in real estate.

• Networking and local knowledge are key to success.

• Resilience in the face of adversity leads to long-term success.

Sound Bites

Home of the Steelers

Home of the Eagles

We have a pretty broad reach

Listen & Subscribe for More:

🎧 The Vast Voice Podcast → Available on Spotify & Apple Podcasts

▶️ Subscribe on YouTube (@VastSolutionsGroup.com) for expert insights 🚀

📚 Don’t miss Modern Millions by R. Kenner French – the #1 BEST SELLING Amazon book (Entrepreneurship category) 👉 ModernMillions.ai

📚 Amazon Top Selling Author→ https://www.amazon.com/dp/B0FHBS32LG

Got Questions? Reach Us Anytime:

🌐 VastSolutionsGroup.com

📞 415-212-8189

📧 [email protected]

🕗 Monday–Thursday | 8:00 AM – 5:00 PM (Pacific)

🙏 Thank you for listening & supporting!

You want to leave a headache to your family when they need them least? Plan your business succession planning NOW!

10 Things to Know ie Your IRA (pt 2) - mainly for self directed investors

5) Not understanding what they are investing in.

This is a big one. It is almost incomprehensible to me how some people don’t have any understanding of what they are investing in at all. For example, a person called the other day and thought she had a note and an option agreement. Instead, she had a simple option where she had paid $28,000 for an option to buy 50% of the property for $10. This was meant to help the owner out of foreclosure. The homeowner had the right to buy back the option at a profit to the IRA of about $5,000. The good news is that it worked for a time period and the homeowner got to stay in the house for an extra two years. The bad news is that the homeowner still wasn’t fiscally responsible and the IRA lost every dime when the lien holder foreclosed. Since all the IRA had was an option (not a note as she thought) she could not even sue to recover some of her money, and even if she had exercised her option her IRA would have only owned half of the house.

4) Not understanding Unrelated Business Income Tax and how it may affect your IRA.

IRAs may be taxed in three circumstances. First, if it runs a business, either directly in the IRA or indirectly through a non-taxed entity such as a partnership or LLC. Second, if the IRA owns and rents out personal property (rents from real property are exempt from this tax). Third, if the IRA owns debt-financed property, again either directly in the IRA or indirectly through a non-taxed entity such as a partnership or LLC. Just to be clear, it is not necessarily all bad to make investments which cause your IRA to pay tax, especially within a Roth IRA or other tax free account, but it is something you should understand up front.

3) Trusting someone with your hard earned IRA money without doing proper due diligence and proper paperwork.

Let me give you a hint — con men are very good at what they do. Make sure you understand what you are investing in, and do your due diligence on the investment and on the person you are investing with before making an investment decision. Also, make sure you have proper paperwork. I wouldn’t loan money to my own mother without proper documentation! Proper paperwork protects both your IRA and the person your IRA is investing with. Think about what would happen if either you died or the person you invested with died. Would either party’s heirs understand what the investment was all about? Even if you trusted the person you invested with absolutely, would their heirs know about your handshake deal and honor it?

2) Failing to follow proper strategy when loaning your IRA to other investors.

There are at least 10 simple rules to follow when lending your IRA money out (or even your personal money). They are:

a) Do not loan on something you wouldn’t be excited to own if the borrower defaults.

b) Generally, do not advance money for repairs until the repairs are done, and then inspect the repairs before advancing the funds.

c) Do not loan to someone you would feel uncomfortable foreclosing on!

d) If the loan goes into default, do not delay — take action immediately!

e) Collect interest monthly so you will know if the borrower is getting into trouble.

1) Attempting to figure out how to get around the rules to get a benefit for themselves or other disqualified persons rather than simply investing within the rules.

It seems to be very tempting for people to want to use their own IRAs to make money or obtain some other benefit for themselves or other disqualified persons right now instead of letting all the benefits go to the IRA so that they have a nice retirement. To make matters worse, a lot of gurus are teaching how to hide the fact that you are violating the rules instead of teaching people how to use the rules properly to their advantage.

As with any major investment, determining whether a particular firm is the right fit for your portfolio requires a thorough investigation of the organization. The process of due diligence will help you to assess whether the asking price is fair, and whether there are any hidden problems at the company that could make the company less attractive than it initially appears.

Before releasing sensitive information, the seller will usually require the prospective buyer to sign a letter of intent, or a non-binding offer to acquire the business that includes a confidentiality clause stipulating that the potential purchaser may not use the information for purposes other than reaching a decision about whether to buy the business. There are a number of documents you and your advisors will wish to review when conducting due diligence, such as articles of incorporation, partnership agreements, insurance policies, contracts with suppliers and clients, customer lists, real estate and property ownership documents, leases, and business licenses or certificates.

It is, of course, essential to review with the help of an independent auditor key financial information contained in the sales records, financial statements, bank records, and tax returns of the firm, preferably for the past three to five years. Compile a complete list of the company’s assets, including real estate, equipment, inventory, trademarks, patents and other intellectual property — as well as a list of all the company’s liabilities, including mortgages and loans. Check to see if the company was or is involved in any litigation, either as the plaintiff or the defendant.

If the business has more than a few employees, you will need to examine the company’s payroll and benefits, employment contracts, as well as the qualifications and performance reviews of the employees. Consider whether you would want to continue to employ these people after acquiring the company, and the legal and financial implications of cutting jobs. To gain an understanding of how the company markets itself and positions its products in the marketplace, review the firm’s website, advertising and marketing materials, advertising budget, records of marketing campaigns, and any documents outlining the company’s marketing strategy.

Once you have conducted the necessary due diligence, a team of professional advisors — likely to include your lawyer, banker, and accountant — can assist you in making the final decision about whether to buy the business, and then in structuring and sealing the deal. If your current advisors lack experience in the complex area of mergers and acquisitions, you may wish to seek out specialized advice.

Thorough due diligence is especially necessary if you are seeking financing to purchase the business. As with any type of business investment, there are a number of sources of financial assistance, including banks and other lending institutions, venture capitalists, and loan programs operated by the U.S. Small Business Administration. Banks and any outside investors will, of course, require a thorough accounting of the company’s assets and liabilities, as well as of your own company’s ability to manage and maintain the newly purchased business.

A lender may allow you to fund the acquisition by leveraging the assets and cash flow histories of both your own firm and those of the company being purchased. This type of loan is known as senior debt, and is secured against the company’s current assets. In some cases, the seller may agree to support at least a portion of the acquisition in the form of seller financing, or earn-out arrangements based on future earnings. Investors in the company being acquired may also be willing to exchange their current equity for shares in the buyer’s company, particularly if the post-merger growth prospects appear favorable.

10 Things to Know ie Your IRA (pt 2) - mainly for self directed investors

10) Not understanding the “self-directed” part of self-directed IRAs.

Unlike more traditional brokerage style IRAs, self-directed IRAs do not come with any tax, legal or investment advice, nor do self-directed custodians and third party administrators offer or endorse investment products. Self-directed means just that — it is self-directed and you must find your own investments and decide how you want to structure those investments. If you make a million dollars in your self-directed IRA all the glory belongs to you, but if you lose everything you have there is no one to blame but yourself.

9) Not investing in what they know best, but rather investing in something they know nothing whatsoever about.

One of the primary benefits of a self-directed IRA is that it allows you to invest in what you know best, especially if that is not the more traditional IRA investments like stocks, bonds, mutual funds or annuities. Some people get very excited about the idea of self-direction and invest in something they know nothing about, which often leads to an investment disaster. Most of my mistakes in investing have been because I have strayed from what I know how to do best.

8) Not understanding the disqualified persons and prohibited transaction rules.

Disqualified persons are those persons who are deemed to be too close to make a transaction within your IRA an arms-length transaction, which means these persons cannot enter into transactions with your IRA nor can they benefit from those transactions, either directly or indirectly. Prohibited transactions are what your IRA cannot do with any disqualified person. The penalty for entering into a prohibited transaction is DEATH (of the IRA that is) along with taxes and penalties. If you have a self-directed IRA you must have a good basic understanding of these rules as they apply to your investing strategy.

7) Not vesting assets correctly — all assets in self-directed IRAs should be vested as follows: “Quest Trust Company, Inc. FBO Your Name IRA #Your IRA Number.”

A lot of time is spent in attempting to get clients, title companies, and investment providers to understand that all assets must be vested in a specific way in order to be held within a self-directed IRA. Common errors include failing to vest in the name of the custodian or administrator at all, or only putting the client name after the “FBO” so that it appears we are holding the asset on behalf of the individual instead of the individual’s IRA. Another common mistake is where the client attempts to use their own Social Security Number instead of that of the IRA or the administrator or custodian’s trust tax identification number.

6) Failing to submit proper paperwork to allow smooth opening of IRAs and processing of transactions.

Another large time waster is chasing down paperwork from improperly completed documents for opening the IRAs, for transferring money into the IRAs and for transactions. This leads to a frustrated client and frustrated staff. Taking the time to learn how to properly submit paperwork and allowing yourself enough time to do so is critical in successfully navigating the self-directed IRA world. Remember, it is better to ask questions in advance than to submit incorrect paperwork and cause a delay.

Business Growth Through Acquisitions

You could work for many years trying to build your business or you could buy one that is already a proven winner with an owner who wants out. Which do you want? The quickest way to grow your business is to acquire another company. Whether your goal is to take out a competitor, gain access to a new set of clients, add a new product line, or secure a new piece of the value chain, there are many good reasons to consider buying a company. But purchasing a firm can be a risky undertaking, especially if you fail to undertake adequate due diligence before signing on the dotted line.

If you already own your own business, what are the advantages of buying another company, rather than investing your resources into growing your existing business? By acquiring a company that is already profitable, you are spared the effort of having to build operations from the ground up. An existing business offers instant cash flow, established relationships with customers and suppliers, and a hard-earned niche in the marketplace.

In some cases, you may be looking to acquire a direct competitor, thereby instantly garnering new customers and boosting sales. In other cases, an acquisition can serve as a complement to your current business activities, expanding your firm’s vertical integration within the marketplace. Buying a company that is either downstream or upstream from your own company’s activities on the marketing value chain can, for example, provide you with new channels for distributing your products, or with an in-house source of supplies or services.

Occasionally, opportunities to buy a business present themselves. The owner of your main competitor may, for example, choose to retire and put the business on the block. If you know the business well, your decision about whether or not buying the company is a worthwhile investment is made considerably easier. You may, however, need to conduct some research before identifying the ideal acquisition target.

There are many potential sources of information about acquisition opportunities. Newspapers, trade journals, and online publications provide listings of companies for sale. The local chamber of commerce or business clubs may also know of business owners who are looking to sell their companies. For additional help, you may wish to contact business brokers, who typically represent sellers. Brokers can be useful in guiding both the seller and the buyer through the technical aspects of the acquisition process. Buying through a broker can, however, inflate the asking price, and limit your ability to negotiate directly with the owner. You do not, of course, have to limit your search to businesses for sale. If there is a company you wish to buy, you can approach the owner with an offer.