People think April 15th is Tax Time but actually if you get things organized at that time it is too late. Get ready now — June, July, August. Tax laws can be confusing, leaving many unsure of what they may deduct and how they should file. However, according to the Internal Revenue Service (IRS), the process can be simpler than you may think if you attack it the right way.

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com.

Join us, as Kenner explains IRA's plus the advantages of having them.

The known definition of IRA's are individual retirement accounts (IRA) which are tax-advantaged accounts that individuals use to save and invest for retirement.

Are you maximizing your retirement potential? As always, one of Kenner's top recommendations are for entrepreneurs to schedule consultations with their tax and financial advisors quarterly in order to maximize their tax savings. This includes looking at their qualified plans.

If you have any questions on this podcast or just questions in general. Please reach us at:

VastSolutionsGroup.com

Phone: (888) 808-8278 Extension: 701 

Email: [email protected]

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

Thank you for listening!

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com.

Join us on this podcast, as Kenner outlines the top tax tips that has helped VastSolutionsGroup.com save their clients a wealth of taxes for their businesses.

We will touch upon:

5) Qualified retirement plans - 401(k)s

4) 831(b)

3) Roth IRA Conversions

2) 453(a)

1) R&D Tax Credits

If you have any questions or would like a complimentary one hour tax review you can reach our office at:

VastSolutionsGroup.com

Phone: (888) 808-8278 Extension: 701
Email: [email protected]
Monday-Thursday 8:00 AM – 5:00 PM (Pacific)

Thank you for listening!

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com and Asset protection attorney Robert “Bob” Bluhm of the Asset Defense Team.

Join us as Attorney Bob Bluhm explains how to use legal entities to reduce liability and lower the risk of being sued, with a brief introduction to entities and their meanings. 

If you have any questions on this podcast or just questions in general. Please reach us at:

VastSolutionsGroup.com

Phone: (888) 808-8278 Extension: 701

Email: [email protected]

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

Thank you for listening!

Everyone with property or children should have a will. It is especially important if you have children, since a will can provide instruction of your wishes regarding who will take care of your children.

A will must meet several requirements in order to be considered legally valid:

1. There must be testamentary intent. This is fancy way of saying that the will was created with the intention of acting as a will and this fact is understood by the testator.
   
2. The testator is required to have testamentary capacity at the time of signing the will. That means the extent and nature of the property in the will must be understood. The distribution of the property must also be understood.
   
3. The will must be executed freely. This means the testator cannot be under undue influence, duress, or fraud.
   
4. It must be signed. Depending on the state, this may include a notary or witnesses.
   

Just as with estate planning in general, wills also have their own terminology that the average person isn’t exposed to on a regular basis. Understanding these terms will greatly increase you understanding of wills in general.

7 Steps to Organizing Your Finances

You might not consider yourself to be an organized person, but your finances are the last place you want to be disorganized. Having too little cash at the end of the month is a challenge, but overdraft fees and late fees every month are an even bigger concern. By getting organized you dramatically cut down on the likelihood of these things happening.

Follow these steps and you'll be more organized that you ever thought you could be:

1. Look at your budget every month. Ensure that your budget is accurate. No two months are ever the same, so be sure your budget reflects reality for the upcoming month. For example, electricity bills can be much higher in the summer if you use air conditioning or in the winter if you have the heat turned up.
   

• If you don’t have a budget, make one now! There are an unlimited number of resources available to make the job a lot easier. Budgets are critical. Your budget is your key to having your money work for you!
  

1. Utilize financial software. Some of the software available now can really help you to get organized, track your spending and bills, and help with budgeting. Many programs are free.
   

• You might actually find working with your money to be enjoyable when you can use a computer and specialized software. It’s a whole different experience than laboring over your hand-written figures on paper.
  

1. Keep all your bills in one place. Avoid leaving some of them on the kitchen counter, some in the junk drawer, and some on the desk. Having one specific location for all your bills will ensure that nothing gets lost, and it’ll also give you the best chance to ensure that everything gets paid on time.
   

• Store your bills close to where you normally sit and pay them. Keep them out in the open where you can see them regularly.
  
• When you're done paying them, retain any records you need and shred everything else to protect yourself from identity theft.
  

1. Pay your bills weekly. Each week, pay any bills that are due in the next couple of weeks. Choose a day and make a habit of paying your bills on that same day each week. Developing good habits is a big part of staying organized.
   
2. Make a checklist of your bills. This should include all your recurring bills. Then, when the bill arrives, you can note the day it arrived, the amount due, the date it's due, and the day you actually paid it. Any non-recurring bills can be added to the checklist when they arrive.
   
3. Communicate regularly with anyone who shares your account(s). Whoever pays the bills needs to know what the other person is doing with the account. Develop a system to ensure that the bill payer is kept in the loop at all times.
   

• Financial matters can be a source of stress in relationships, so work out an effective system before it becomes a challenge.
  

Have two accounts. Mishaps are a lot less likely to happen if you have one account that is only used to pay bills. Use a separate account for everything else.