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Ep 45: Keeping Your Accounting Clean for Business Transitions - with Dennis Fry

Retire With Confidence

Release Date: 05/30/2023

Ep 62: Online and Self Planning Tools show art Ep 62: Online and Self Planning Tools

Retire With Confidence

In this episode of the Retire with Confidence podcast, host Dave Zegle discusses the importance of including taxes and inflation in retirement planning calculations. He explains that many online planning tools often overlook these factors, which can have a significant impact on retirement finances. 

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Ep 61: Consolidating Retirement Accounts show art Ep 61: Consolidating Retirement Accounts

Retire With Confidence

In this episode of the Retire with Confidence podcast, Dave Zegle discusses the importance of consolidating retirement accounts. Many people have multiple retirement accounts from different jobs, which can make planning for retirement confusing and difficult. Consolidating these accounts into one place makes it easier to track and understand investments.

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Ep 60: Estate Planning - Setting Up an Irrevocable Trust show art Ep 60: Estate Planning - Setting Up an Irrevocable Trust

Retire With Confidence

In the Retire with Confidence podcast, the topic of discussion is irrevocable trusts that can be set up while still alive. These trusts are separate legal entities and can help lower estate taxes and provide creditor protection. The main reasons for setting up an irrevocable trust are to avoid estate taxes when passing on wealth and to ensure it is protected from potential creditors.

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Ep 59: Estate Planning - Inheriting Trust Assets show art Ep 59: Estate Planning - Inheriting Trust Assets

Retire With Confidence

In this episode of the Retire with Confidence podcast, the topic is inheriting a trust. Dave explains that when you inherit a trust, it becomes an irrevocable trust and has its own identification number for tax purposes. He also discusses the importance of understanding the terms of the trust, including beneficiaries, trustees, distribution restrictions, and rights of different beneficiaries.

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Ep 58: Estate Planning - Trust Basics show art Ep 58: Estate Planning - Trust Basics

Retire With Confidence

In this episode of the Retire with Confidence podcast, Dave discusses the benefits of setting up a trust as part of estate planning. A trust helps to avoid probate court, which reduces costs and delays. It also provides more specificity in asset distribution and keeps personal affairs private. Additionally, the taxation remains unchanged while alive but will be discussed further in the next episode. 

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Ep 57: Estate Planning - Will Basics show art Ep 57: Estate Planning - Will Basics

Retire With Confidence

In this episode of the Retire with Confidence podcast, the focus is on estate planning and specifically wills. Without a will, the state decides how assets are divided and what happens to dependents. A will should be in writing, signed, and preferably witnessed to ensure its validity.

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Ep 56: Legacy Interviews with Vance Crowe show art Ep 56: Legacy Interviews with Vance Crowe

Retire With Confidence

Listen as Van Crowe talks about his background and how he got into doing legacy interviews.

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Ep 55: May the Odds Be Ever in Your Favor show art Ep 55: May the Odds Be Ever in Your Favor

Retire With Confidence

While we cannot predict or control everything, we can focus on positive outcomes and make choices that improve our chances of success. The key is to have a plan that allows for flexibility and margin of error, ensuring that even if things don't go exactly as planned, it won't be catastrophic. By focusing on these basics and putting the odds in our favor, we can retire with confidence.

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Ep 54: Inherited IRA RMD Update for 2023 show art Ep 54: Inherited IRA RMD Update for 2023

Retire With Confidence

The IRS has delayed giving guidance in this area, causing confusion for those who have recently inherited IRAs. Previously, individuals were able to spread out required distributions over their life expectancy, but the Secure Act changed this to a ten-year period. However, the IRS's interpretation is still unclear and they haven't provided guidance on how to calculate these distributions. 

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Ep 53: So You Received an Inheritance show art Ep 53: So You Received an Inheritance

Retire With Confidence

Now what? In this episode we cover 2 things: What is it that we inherit? What does this mean in regard to taxes? Tune in to learn more! 

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More Episodes

Business owners get to retire too!  But the transition can be different and difficult when you own a business.  One of the most important pieces to transitioning / selling a business is to have your accounting function and the business accounting itself clean.  Messy financial statements are an immediate red-flag to anyone looking to acquire your business.

In this episode, we are joined by Dennis Fry, founder of CPAs for Hire, to learn about why it is critical to have your accounting clean when trying to sell a business, and how CPAs for Hire itself helps business owners not only keep their accounting clean, but also improve business processes and best practices.