Wealth In Waves

BOSS 2.0: Should I put my assets into a Trust?

July 20, 2023 16:31 - 18 minutes - 26 MB

Josh Null and Will Steih of Gulf Coast Financial Advisors discuss the intricate world of legal trusts as what should be a seamless intergenerational wealth transfer becomes ensnared in complex challenges. Want To Know More About Will and Josh? If you would like to continue the conversation with Josh and Will, make an appointment on our website at https://gulfcoastfa.com/, or feel free to call 251-327-2124 or email [email protected].

BOSS 2.0: Tax Planning vs Tax Preparation

July 20, 2023 14:29 - 15 minutes - 21.7 MB

Josh Null and Will Steih of Gulf Coast Financial Advisors discuss basics of tax planning vs tax preparation, how we team with out clients and more. Want To Know More About Will and Josh? If you would like to continue the conversation with Josh and Will, make an appointment on our website at https://gulfcoastfa.com/, or feel free to call 251-327-2124 or email [email protected].

BOSS 2.0: Succession Planning & The Walk Off Home Run

July 06, 2023 18:45 - 20 minutes - 28.8 MB

Josh Null and Will Steih of Gulf Coast Financial Advisors discuss ways of transitioning a business, Deeper dive on buy-sell agreements and how the are funded, unfunded buy sells are just promises and more. Want To Know More About Will and Josh? If you would like to continue the conversation with Josh and Will, make an appointment on our website at https://gulfcoastfa.com/, or feel free to call 251-327-2124 or email [email protected].

BOSS 2.0: NQ Deferred Comp

July 03, 2023 17:58 - 21 minutes - 29.7 MB

Josh Null and Will Steih of Gulf Coast Financial Advisors discuss a way to keep your key employees loyal that is stickier than just throwing cash bonuses at them. Want To Know More About Will and Josh? If you would like to continue the conversation with Josh and Will, make an appointment on our website at https://gulfcoastfa.com/, or feel free to call 251-327-2124 or email [email protected].

BOSS 2.0: Cash Balance Plans

June 15, 2023 21:57 - 23 minutes - 32.8 MB

Josh Null and Will Steih of Gulf Coast Financial Advisors discuss cash flow to support both the needs of the business and your own household spending, in fact, there’s this extra every month or quarter that you as the business owner are trying to determine how to put to the best use, such as possibly benefiting your own personal retirement plans. Want To Know More About Will and Josh? If you would like to continue the conversation with Josh and Will, make an appointment on our website...

Alternative To A Roth IRA

January 13, 2022 16:00 - 14 minutes - 17.4 MB

Josh Null and Will Steih of Gulf Coast Financial Advisors discuss an alternative for those that are unable to contribute to a Roth IRA because of income limits: permanent life insurance. Josh and Will discuss how a properly structured permanent life insurance policy can features similar to a Roth IRA, particularly tax free growth, but without the income and contribution limits associated with a qualified plan. The guys also discuss how the need for a death benefit should be one of the pri...

Pooled Employer Plans (PEP)

January 11, 2022 16:00 - 13 minutes - 16.1 MB

Josh Null and Will Steih of Gulf Coast Financial Advisors discuss Pooled Employer Plans, commonly known as a “PEP”. A PEP is a way for a smaller 401k plan to “pool” their investments with other businesses in an effort to improve the buying power of the plan as well as spread administrative costs over a wider base. Will and Josh discuss how the SECURE Act made certain rule changes designed to make PEPs more attractive to small business owners, as well as giving more flexibility in the types ...

Legal Ways to Defer Income Taxes

January 06, 2022 20:33 - 20 minutes - 23.2 MB

In this episode, hosts Will Steih and Josh Null of Gulf Coast Financial Advisors discuss legal ways for business owners to defer income taxes, including 401k plans and SEP IRAs. This discussion includes a roadmap on how to set these plans up, particularly with the new SECURE Act deadlines, as well as practical tips on how to determine which plan may be the best fit for the business owner’s situation. Lastly, for those business owners with an appetite for retirement savings above the traditi...

Biz Owners: $2 Trillion in New Taxes is a BIG Number

October 18, 2021 16:15 - 23 minutes - 27.8 MB

Josh and Will welcome special guest Jay Stubbs, the Director of the Gulf Coast for Concourse Financial Group and Josh’s co-host on the long-running Every Dollar Counts with Josh and Jay Podcast. Jay joins the guys to discuss the $2 trillion dollar tax increase plan that made it way through the House Ways and Means Committee recently and is currently debated in Congress, and how it potentially impacts business owners, self-employed people and investors. Want To Know More About Will and Josh...

Biz Owners: 5 Things to do by Year End

October 05, 2021 20:45 - 20 minutes - 24.6 MB

Josh Null and Will Steih jump back into the Deep Fried podcast studio to provide some timely financial topics and tax deferral concepts for our listeners as we enter the 4th quarter. Join the hosts as they discuss the timing of claiming income, what to do if you’ve had a profitable year (especially if it’s been an exceptionally profitable year), how to leverage an existing 401k for tax deferral options, and strategies for tax deferral contributions above and beyond your standard 401k limits...

401k Plans and the Business Owner

July 12, 2021 14:51 - 15 minutes - 13.1 MB

In this episode, hosts Josh Null and Will Steih discuss 401k plans from a business owner's perspective. They discuss if there is a best time of the year to offer a plan to your employees and how the Secure Act changed some of the filing deadlines starting with the 2020 plan year. They also discuss the benefits of having a 401k plan for attracting and retaining employees, especially in a tight labor market. Lastly, they remind existing plan sponsors that it's probably a good time to "benchma...

The Impact of Inflation on Our Everyday Lives

June 22, 2021 15:00 - 18 minutes - 15.9 MB

Per Wikipedia, Inflation is a “general rise in the price level of an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy”. While this is a concise summary, this does not fully encompass the effect of inflation on different groups of people in today’s m...

Lee Lawson of Baldwin County Economic Development Alliance

June 16, 2021 10:30 - 23 minutes - 17.6 MB

Baldwin County is geographically huge and diverse county situated along the Gulf Coast of Lower Alabama, across Mobile Bay from Mobile, Alabama. Baldwin County also happens to be one of the fastest growing counties in the South / Southeast, and arguably the entire United States by percentage of population growth. Why is this? What attributes does Baldwin County offer that have consistently compelled people and businesses from all over the US to move there? Why is that rate of growth only in...

Here A Tax, There A Tax, Everywhere A Tax, Tax

April 13, 2021 00:18 - 14 minutes - 12.3 MB

To the surprise of no one, our current political leadership is currently discussing the first federal income tax increase since 1993. Some of the key talking points are increasing the top marginal tax rate by nearly 3%, from 37% 39.6%, and particularly targeting those with incomes of $400,000 or more. Also on the table are raising the corporate tax rate from 21% to 28%. What hasn’t been explicitly discussed – yet – is the Estate Tax Exemption of $11.7 Million (per person) for 2021, but the...

Income America's Matthew Wolniewicz

April 13, 2021 00:13 - 21 minutes - 16.6 MB

As the availability of pensions has decreased over the past decades, particularly in the private sector, lifetime income needs for retirees has often been addressed with the use of insurance-company provided annuities. Given that these products typically come with a commission and often only require an insurance license to sell, the best interests of the investor has not always been served. The commission structure of annuities is often an issue for fee-only and fee-based fiduciary financia...

How to Avoid Unintended (& Unwanted) Business Partners

April 13, 2021 00:05 - 16 minutes - 14.5 MB

If you or one of your fellow business partners were to become disabled or retired or pass away prematurely, who would gain control of the ownership share of the business? Once that fundamental question is answered in a written Buy-Sell Agreement, the next step is to provide funding so this transition can be financially completed. There are important concerns that can be answered by a well structured Buy-Sell Agreement - assignment of day to day responsibilities, cash needs of surviving he...

How To Keep Your Best Employees Loyal

April 09, 2021 20:05 - 17 minutes - 14.6 MB

Employee retention, especially in highly competitive industries and/or a tight labor market, is an issue facing many business owners. How do you attract, retain, and keep satisfied the most talented and productive members of your labor force? Many business owners have learned the hard way that just throwing additional dollars at the employee in the form of increased salary or cash bonuses only goes so far, and once the money is spent, there’s no real control over the outcome. Some busines...

Can A Small Business Owner Create Their Own Pension?

April 09, 2021 19:46 - 21 minutes - 18.4 MB

Pensions, or Defined Benefit Retirement Plans, have historically been the domain of large Fortune 100 companies and public sectors employers. Can a privately held small business (50 employees or less) create a defined benefit type plan for it’s owners and employees? In this episode hosts Will Steih and Josh Null discuss one possible pension-like solution for small business owners to consider: a Cash Balance Plan. If you’re a small business owner with an appetite for additional savings abo...

And so it BEGINS!

April 09, 2021 19:17 - 13 minutes - 11.1 MB

Welcome to Episode 1 of the Wealth in Waves Podcast, a show dedicated to all you busy folks out there making it happen along the Gulf Coast! To our listeners in New Orleans, Destin, Mobile, Santa Rosa Beach, Gulfport, Pensacola, Biloxi, and of course, our home base of Fairhope, Alabama, if you’re plugged into your work, your family, and your faith, you’ve found your show! In this episode, Will Steih and Josh Null discuss their respective journeys to creating the Wealth in Waves podcast, f...

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