92. Fiduciaries, Fees & Finding the Right Advisor with Luke Sauter, CPA / PFS
Release Date: 02/18/2025
107. Best Business Books of 2025
Consultants and Money
Happy Holidays! Erica shares her annual list of favorite business books of the year in her final episode of 2025. 00:00 Welcome 00:50 Holiday Greetings and Year-End Reflections 01:19 Favorite Business Books of 2025 03:34 Book 1: Quit by Annie Duke 05:54 Book 2: Big Magic by Elizabeth Gilbert 08:14 Book 3: Marketing Made Simple by Donald Miller 09:38 Book 4: The Five Types of Wealth by Sahil Bloom 12:10 Book 5: Tax Planning To and Through Early Retirement by Cody Garrett and Sean Mullaney 15:55 Honorable Mentions: Non-Business Reads 20:42 Holiday Wishes and Conclusion ...
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106. Profit ≠ Paycheck: The 50/25/25 Rule to Create Personal Stability
Consultants and Money
Erica talks through the often-ignored issue of why business profits don't always translate into personal take-home pay. She introduces the 50/25/25 Rule to help consultants achieve financial stability, explaining how to divide profits into owner distributions, tax liabilities, and business reserves. Erica also discusses the nuances of tax planning based on location and household income. 00:00 Intro 00:51 The Profit and Paycheck Disconnect 01:27 Introducing the 50-25-25 Rule 02:53 Breaking Down the 50-25-25 Rule 05:28 Implementing the Rule with Rolling Averages 06:36 Adjusting for Taxes...
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105. Tax Surprises Suck: How to Get Out of Reactive Mode for Good
Consultants and Money
In this episode, Erica discusses the common issue of unexpected tax bills and provides strategies on how to avoid them. She explains why tax surprises happen to solo consultants, the concept of Safe Harbor in tax payments, and the importance of setting aside an appropriate percentage of profits for taxes. 00:51 Dealing with Surprise Tax Bills 02:36 Understanding Safe Harbor 04:21 Setting Aside Money for Taxes 05:52 Managing Tax Payments 06:56 Proactive Tax Planning ____________________ Connect with Erica | | |
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104. From C-Suite to Startup: Money Questions with Julie Masson
Consultants and Money
In this episode, Erica welcomes Julie Maison, a Chief Communications Officer for nonprofits and churches. This episode is an open Q&A session where Erica answers questions many new business owners have, including accounting concepts like cash and accrual basis accounting, the differences between an LLC and S-Corp, and the importance of accurate bookkeeping. 00:00 Introduction 00:54 Meet Julie Maison: Communications Expert 02:08 Julie's Journey to Entrepreneurship 04:20 Navigating the Challenges of a New Business 09:55 Understanding Accounting Basics 10:58 Cash vs. Accrual Accounting...
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103. Forecasting for Real Life: How to Plan for Paychecks, Hiring, and Dry Spells
Consultants and Money
Erica explains the importance of financial forecasting for solo consultants and small businesses. She covers how forecasting can help in stabilizing income, planning for hires, and managing cash flow during slow periods. Erica provides practical steps to start forecasting, such as listing current revenue, fixed monthly costs, owner distributions, and upcoming expenses. 00:00 Intro 01:15 Understanding Forecasting 03:18 The Importance of Forecasting for Business Owners 06:09 Steps to Start Forecasting 07:35 Practical Exercise for Forecasting 09:07 Client Case Study on Forecasting 11:12 Final...
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102. What Clean Books Actually Look Like (And Why Yours Might Not Be as Clean as You Think)
Consultants and Money
In this episode, Erica talks through into the fundamentals of maintaining 'clean' business books. She explains what clean books should look like, the common issues that can arise, and how these issues can affect financial planning and tax reporting. Erica provides tips on identifying and rectifying issues such as inconsistent categorization, unreconciled balance sheets, uncategorized expenses, misreported owner distributions, and mixing personal and business expenses. She also offers actionable steps for consultants to take to ensure their books are accurate and useful. 00:00...
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101. Retiring Often with Jillian Johnsrud
Consultants and Money
In this episode of the Consultants and Money Podcast, Erica welcomes Jillian Johnsrud, author of Retire Often. At 40, Jillian has taken over a dozen mini retirements, allowing her to live abroad, travel to 27 countries, adopt four kids, invest in real estate, and more. She discusses the concept, planning, and benefits of mini retirements, outlining steps for simplifying, automating, documenting, and delegating tasks to prepare a business for a mini retirement. Jillian offers practical advice for entrepreneurs, addressing financial concerns and demystifying common fears about taking time off....
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100. Big, Beautiful Bill: What Actually Changed for Consultants
Consultants and Money
In this episode, Erica provides an important update on the recent tax bill passed by Congress in July 2025. She breaks down the key changes in tax law that affect solo consultants, including what is leaving, what is staying, and what is brand new. Key changes discussed include adjustments to the SALT limitation, the discontinuation of residential energy tax credits and electric vehicle credits, and the extension of lower tax rates and higher standard deductions. Erica also highlights new provisions for charitable deductions, car loan interest deductions, and 529 college savings accounts. The...
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99. The Power of Pausing
Consultants and Money
Erica encourages solo consultants to find ways to pause, whether it's taking a week off, a quiet morning, or even a month-long break. She highlights some of the most downloaded episodes for listeners to revisit during the hiatus and wishes everyone a restful and enlightening summer. 00:00 Introduction to the Podcast 00:44 Summer Break Announcement 01:11 The Importance of Pausing 02:30 Personal Reflections on Rest 03:56 Encouragement for Listeners 04:44 Recommended Episodes ____________________ Episodes Referenced: 73. [The Soloist Life] Building a Six-Figure Advisory Business (Working...
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98. Pausing on S-Corp Conversions in 2025
Consultants and Money
Erica explains the potential savings on self-employment taxes and the trade-offs with the Qualified Business Income Deduction (QBID). Erica advises listeners to hold off on making the S-Corp election until there's more clarity on tax laws, which are expected to change with the expiration of the Tax Cuts and Jobs Act in 2025. 00:00 Intro 00:45 The Importance of Timing for S Corp Election 01:49 Understanding S Corp and QBID 02:50 The Impact of the Tax Cuts and Jobs Act 04:11 Why Waiting is the Smart Move 05:52 Practical Steps for 2025 07:13 Concierge Bookkeeping ...
info_outlineErica sits down with Luke Sauter, a CPA, PFS, and investment advisor who shares insights on the intricacies of financial planning, emphasizing the importance of choosing a trustworthy fiduciary who provides consistent, transparent, and comprehensive wealth management services.
00:43 Meet Luke Sauter: CPA and Financial Specialist
02:34 A Personal Journey: From Corporate to Consulting
04:54 Understanding Financial Designations and Trust
09:37 The Role of a Fiduciary and Financial Planning
16:03 Building Trust and Transparency in Financial Advisory
20:56 The Importance of Regular Communication with Advisors
26:30 The Advisor Mindset Shift
27:13 Transactional vs. Relational CPA Models
28:26 The Importance of Integrated Wealth Management
32:37 Financial Planning for Different Net Worths
36:58 Understanding AUM and Fee Structures
49:59 Choosing the Right Financial Advisor
56:13 Conclusion and Contact Information
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Disclaimers:
Vidarrow Investment Advisors is a Registered Investment Adviser in the state of Illinois. Advisory services are only offered to clients or prospective clients where Vidarrow and its representatives are properly registered or exempt from registration. This podcast is for informational purposes only and does not constitute individualized advice or a guarantee that you will achieve a desired result. You should consult with appropriate tax and/or financial advisors for advice specific to your situation. All expressions of opinion reflect the judgment of the host/interviewee on the date of the program and are subject to change.
Luke Sauter is an investment adviser representative of Vidarrow. The firm is a registered investment adviser and only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability.
The information presented on this program is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Discussions should not be construed as an offer to buy or sell, or a solicitation of an offer to buy or sell the investments mentioned. A professional adviser should be consulted before implementing any of the strategies discussed. Investments involve varying degrees of risk, and there can be no assurance that any specific investment or strategy will be suitable or profitable for a client's portfolio. All investment strategies can result in profit or loss.