PODCAST EPISODE 137: THE 5 PILLARS OF TAX PLANNING WITH SHAHAR PLINNER

EPISODE SUMMARY

In this very first episode of the newly branded Your Business, Your Wealth Podcast, Paul welcomes Shahar Plinner to break down the five pillars of tax planning. Shahar is a certified public accountant who specializes in tax preparation and strategy consulting. Paul and Shahar discuss tax savings tools, cash flow, and the value of defined benefits plans.

WHAT WAS COVERED

  • 01:03 – Paul announces the new name of the podcast: Your Wealth, Your Business
  • 01:32 – Introducing today’s guest, Shahar Plinner
  • 02:39 – Today’s topic: The Five Pillars of Tax Planning
  • 03:51 – The importance of accounting for tax as a business expanse
  • 07:39 – How frequently business owners should be meeting with their accountants throughout the year
  • 09:57 – Life-changing events that can impact tax planning
  • 14:30 – Shahar breaks down the five pillars of tax planning
  • 17:59 – The devastating impact foreign penalties can have on a business
  • 22:34 – The First Pillar: Tax Savings
  • 25:34 – The appropriate ratio of salary to K-1
  • 29:06 – The two major Trump tax changes
  • 31:28 – The value of cash balance and defined benefit plans
  • 35:31 – The Second Pillar: Cash Flow
  • 36:27 – A tip for tax savings
  • 37:49 – Business loans and lines of credit
  • 39:34 – Using Taxes to maximize cash flow in the short term
  • 42:21 – Cory interrupts the podcast to provide the audience with a special offer
  • 43:46 – The Third Pillar: Compliancy Structure
  • 47:07 – Paul encourages listeners to reach out to Shahar’s company, GPL
  • 47:52 – The Fourth Pillar: Investment
  • 51:03 – The Fifth Pillar: Estate
  • 55:30 – Paul announces a special giveaway in partnership with Shahar’s company, GPL

TWEETABLES

“As tax professionals or tax gurus as we refer to ourselves, we’re not magicians.”

“Zero tax means, usually in most cases, zero income. For most business owners it’s a death penalty.”

“What’s the best loophole? Planning!” 

“A loophole is not breaking the rule. A loophole is technically following a rule that exists in the tax code in the normal lexicon of how people use it.”

“It’s really a mission for us kind of to share our knowledge, specifically with entrepreneurs like us and make sure that all of their hard work is not wasted.” 

LINKS

Sound Financial Group’s Website for a Financial Inquiry Call – Info@sfgwa.com (Inquiry in the subject)

Sound Financial Group on Facebook

Sound Financial Group on LinkedIn

Cape Not Required (Cory’s Book)

Sound Financial Advice (Paul’s Book)

Clockwork

Shahar’s LinkedIn

GPL’s Website

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MUSIC CREDITS

“Legends Are Made” Copyright 2017. Music, arrangement and lyrics by Sam Tinnesz, Savage Youth Music Publishing SESAC and Matt Bronleewe, UNSECRET Songs SESAC

ATTACHMENTS