Ep. 150 | Celebrating The Journey (Guest Highlights)
Download MP3Hey, everybody, and welcome back to the teaching tax flow podcast episode 150, the big one five o. You know, even though somebody that cohost this with me did turn five o not too long ago, We are on a completely different topic here. And as promised, we have something a little bit special for you that you probably don't expect from us, although you may expect anything from us at this point, episode 150. But before we get into it, as always, let's take a brief moment and thank our episode sponsor.
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John Tripolsky:Here we are, episode 150. Not only did we survive a 150 of these, but you did too because we know you've listened to every one of them since the dawn or the beginning of TTF time, I guess we can call it that. And we're gonna get into that, how we started this briefly. But on this topic, again, very different than you used to, we're gonna look back. We're gonna go really, really far back.
John Tripolsky:And to explain exactly what we're gonna do here, you're not gonna hear from me right now. Chris Pacquero, welcome back, sir. You've been with me since the beginning. I've been with you since the beginning. It's, what do you call it?
John Tripolsky:Yin yang yin and yang, I guess, that makes this work, but what's happening, man? How you doing?
Chris Picciurro, CPA:It is episode 150. We wanted to do something very special for our listeners. And now, viewers, if, if you've joined us at episode 100, we end up moving, or adding, I should say, and the video version of this podcast to YouTube. We've crossed over well now, well over a thousand subscribers on YouTube, increased, our viewership and listenership since then. So we truly appreciate that.
Chris Picciurro, CPA:That means the world to us for episode 100. So that was a big a big whoop dee doo. And in episode one fifty, we wanted to do something special for our teaching tax law community. And we understand that many, many people have started joining or subscribing to this podcast, subscribing to the YouTube channel, downloading it on all of your major, you know, Spotify, iT Apple Podcasts, etcetera, etcetera. But sometimes you pick up a podcast you fall in love with, and maybe it's episode, you know, 120, you know, 130, and you really don't go back and look at all the old ones.
Chris Picciurro, CPA:Now there probably are some episodes that would be really valuable to you. So we thought, you know what? We don't really have an exact cadence for as how many having special guests. In general, though, we about one third of our episodes, we bring in a special guest. And so we wanted to take this time, first of all, say thank you.
Chris Picciurro, CPA:Second of all, to to briefly run through all of the special guests that we've had in the topic and with episode number so that if something bends your ear a little bit, you can go back and find it instead of going through a 150 episodes of of content. You we we again, all of these special guests have been hand selected and been gracious with their time, and we're gonna we're gonna go through those, and we we expect more special guests to come. Now, if something that you hear piques your interest and you're driving or you're out for a walk or a run or you're just at your desk, don't don't don't be unsafe driving your vehicle. Jump into, you know, make a note, teachingtaxflow.com backslash hub, HUB. John will put that in the show notes.
Chris Picciurro, CPA:From there, you can request more information about any of these special guests or just jump in order to Feeding Taxes private Facebook group because believe it or not, many of these special guests are members of that Facebook group group that's defeatingtaxes.com. So or just comment if you are on YouTube. Just comment, and we are diligent about checking and replying to those comments. So, again, let's get the ball rolling. 150 episodes.
Chris Picciurro, CPA:Still can't believe it.
John Tripolsky:We started on a pizza box too. I know
Chris Picciurro, CPA:we've mentioned that a couple
John Tripolsky:times, which actually so I know we're at a 150. Right? And we're gonna power through these guests and some of these topics we had. Are gonna eliminate the ones that we didn't have guests because otherwise, we'd be here all day. It would be like sitting in a in a college lecture for two and a half hours.
John Tripolsky:But some of these, I mean, really starting starting back at the first one here, Chris. Right? And, again, we'll power through these. And this one, we'll get into a little bit more than others. We're going back to November 2022.
John Tripolsky:So if anybody's watching this, you you might see me at Chris kinda looking off to the side. We have a list of everything we have here. Where did we start this? We actually First guest Where did you find this guest at?
Chris Picciurro, CPA:I remember. Guest was episode four, Crystal Ball, who is a real estate broker in Panama City Beach, Florida. And when you started the podcast, we thought we would have some episodes specifically on real estate markets. We didn't realize the scope of our listenership and viewership was gonna be way more than just real estate related, but Crystal did an amazing job talking about short term rentals in the Panama City Beach area and and and prices and and the environment. So Crystal was a great guest.
Chris Picciurro, CPA:Episode four. The next episode we had a guest was Brenna Carls of The Mortgage Shop, and she was on episode six. We're still back in 2022, believe it or not. And we talked about how your lending partner is part of your board of directors and why you need one. You need someone on your board of directors to help with lending either your your business or even an individual looking to buy a home, investment property, etcetera, etcetera.
John Tripolsky:When we started,
Chris Picciurro, CPA:those are really good.
John Tripolsky:Chris, that that one was good because we really had a conversation with her about, hey. You know, tax and tax and lending and just finance as a whole. It's kinda how we blended those two together. I remember that one. It's a good one.
Chris Picciurro, CPA:So episode 12. So now we're in 2023. Episode 12 was our next guest. Kirsten Limmer, who is actually a PhD, extremely intelligent individual. Even though she's a PhD, she's a real estate investor, and she created an app called Reps Tracker.
Chris Picciurro, CPA:Reps Tracker is still one of our podcast sponsors. So if you need help keeping track of your time at all while in an IRS compliant way, definitely use that software and let us know. We have a discount code through Teaching Tax Law. But but Kirsten talked about I mean, just this week, had a conversation with two different people and sent them this podcast episode about rep status. That's IRS real estate professional status and material participation and how to pass one of those tests.
Chris Picciurro, CPA:So Kirsten was a great resource, and that's episode 12. The next episode, episode 14. Now we sometimes we we have a little bit of a Star Wars theme. We're not complete Star Wars geeks, just slightly, but we talked about something that's very stressful for people. What happens if you get a letter from the IRS or any type of state taxing authority?
Chris Picciurro, CPA:We call that love letters from the from Darth Vader. Again, episode 14, a very, very dear friend of mine, a super talented and knowledgeable enrolled agent, Andrew Pulos, out of Atlanta, Georgia joined us. And, John, I know you really like Andrew, and and we always like to chat it up with him. It was
John Tripolsky:great too because you get to you get to hear from somebody who's really in the trenches, like, basically just going toe to toe with the IRS on some stuff, But He he explains it for
Chris Picciurro, CPA:a long Quite frankly, yeah, he's helped people. He's helped me in our private CPA firm with certain IRS cases. He's very knowledgeable. We moved forward to episode 18 was the next the next episode. Now at that time, this is 2023.
Chris Picciurro, CPA:One of the topics was was still the ERTC, employee retention tax credits. Now we know that the IRS is basically saying we don't there are no more ERTC claims available, but at that time, so two and a half years ago, this was still a very hot button topic. We had the dynamic duo of Heidi Henderson and Stacy DeRue, at that time of Engineer Tax Service. Heidi is still with Engineer Tax Service, and she is a frequent flyer on the teaching tax flow aircraft, and a huge just a huge resource for our community. So
John Tripolsky:I love that you just referred to it as our aircraft. That's awesome. That is awesome.
Chris Picciurro, CPA:That's I mean, it kinda is or a community.
John Tripolsky:TTF Air.
Chris Picciurro, CPA:We got this. No. We didn't we didn't take too much time to have another special guest on. So episode 18 was ERTC. Episode 20, we went back to looking at that real estate real estate market spotlight.
Chris Picciurro, CPA:We went around the Emerald Coast from Panama City Beach to Fort Walton Beach, Florida, had another amazing real estate broker, very knowledgeable guest, Heather Blatzon, and she not only does real estate, she does coaching. She's got a great following on social media. So we talked about that Fort Walton Beach, Florida real estate market. And I would say on the on the two so that's episode four and episode 20 of those real estate market spotlights, and we have one more to talk about. Even if you're not thinking about buying in those areas and we realize those were two two years, three years ago, it's okay.
Chris Picciurro, CPA:It's still very good information and insight from high performing real estate brokers is always a great thing to to consider.
John Tripolsky:Yeah. And I do like that we we have a good trend too of picking guests that majority are in warmer climates. There's a few that we've had from up by me, but,
Chris Picciurro, CPA:you know. Yeah. There's a few out there. I mean, but but mostly warmer when you're talking about those vacation homes. In general, there are some colder spots too.
Chris Picciurro, CPA:So we went right back on the wagon for episode 22. Had another frequent flyer. We're gonna talk about a little layer later. Our buddy, Scott Mauer. He is from Advanta IRA.
Chris Picciurro, CPA:We talked about self directed IRAs and what opportunities exist. And a lot of people don't realize that you can invest in alternative investments and in just various different types of things within your own IRA and self directed. So if you're thinking about that, if you've heard about, hey, want to buy real estate in my IRA or precious metals. Check out episode 22. And it was such a good episode.
Chris Picciurro, CPA:We have Scott back later on, but you're gonna have to wait to hear what episode that is for a few minutes here.
John Tripolsky:Yep.
Chris Picciurro, CPA:Back on the wagon. When we're talking about specialized tax services, we had Heidi Henderson with Engineered Tax Service and Stacy Derue. The dynamic duo back on again. We talked about research and development credits, and that was episode 24. Now that's that one, I think, would be very good to listen to because what we know now with OB three one, Big Beautiful Bill Act, research and development expenses are there are some changes to that.
Chris Picciurro, CPA:So I think that if you are in that research and development area, you have a business where you're doing research and development, definitely check out episode 24. Again, reach out if you want those introductions and learning learning.
John Tripolsky:And this episode will probably have the longest show notes out of any of them we've done because actually what what we'll do, Chris, is we'll put in anybody listening. We're gonna put a link to every single one of these podcasts directly in the show notes so you could just click away. It'll tell you the episode number. So quick reference. We may we make it easy for you.
John Tripolsky:You don't have to be lazy. You just be efficient.
Chris Picciurro, CPA:Jeff, just just go on in there. We then the next couple episodes, we brought in people that I work with in my private CPA practice all the time. And, you know, John, as you know, a lot of times that that we want, we want more listeners, more taxpayers to have access to things that usually a very, very small amount of people would have access So episode 26, we had Roger Roundy on from Strategic Associates. Roger is a wealth of knowledge. We talked about private reinsurance programs or the eight thirty one b strategy.
Chris Picciurro, CPA:This is for really for business owners that are are paying at least $100.00 worth of federal federal and state income tax or have $500.00 or more of net income. So, that would be if if you're in that situation or you know someone in that situation, take a moment and check out episode 26. Came right back in episode 27. So two in a row. The studio was getting crowded and we talked about an alternative investment and alternative investments in general, specifically a wildlife conservation investment with Chris Gilroy, one of the two Gilroy brothers that you and I are both have been able to meet personally, get to know.
Chris Picciurro, CPA:And we actually did a a site visit on one of their ranches, believe it or not, in outside San Antonio, Texas from Wildlife Partners. So I bet that, you know, that episode, we have a lot of people listen to when they're thinking about diversifying and some tax advantaged investments as episode 27.
John Tripolsky:And that one's in my top probably my top five favorite ones we've ever done because I knew nothing about it going into it. So we're not gonna get into it, but you could listen to it yourself, and you'll, you'll leave with some some wow moments, which is awesome.
Chris Picciurro, CPA:We went back to our real estate market spotlight. This is this our final real estate market spotlight episode was episode number 29. Had my friend, Michael Gomez on from Hive. He's a real estate broker. He's a former muse like, he still is a musician, but former touring musician in a in a in a contemporary Christian band.
Chris Picciurro, CPA:Just I mean, the guy's a stitch, has a great social media file social media following as well, does property management, renovations. He was actually on a HGTV house renovation show with his wife, Amy, and I really enjoyed watching that. But he joined us for and talked through the Nashville market. Now that's about two and a half years ago. But, again, the principles of the market.
Chris Picciurro, CPA:And and if you're thinking, gosh, I wish I would have bought Nashville three years ago, two and a half years ago. Well, maybe if you listen to that podcast back then, you would have, you know, you would have identified that. But that's so episode 29, and maybe you could find the next Nashville. But that's that was a that was a fun episode. And then, you know, it's pretty rare, John.
Chris Picciurro, CPA:We went back to back guests, And we were thinking, gosh, we have to stick with the music theme. This is where it started to get revealed that I just might like pickleballs a little bit. Oh. And I started getting into it. Right?
Chris Picciurro, CPA:I've been playing for about three years. And so about two and a half years ago, a good friend of mine, Trevor Turndrop, who is the lead singer of a very, very popular band, national touring band called Noon Taxi. And then one of Tommy Putnam, who is one of his bandmates, joined us. And we talked through, like, why would musicians join a tax podcast? Right?
Chris Picciurro, CPA:But we wanted to talk about the kind of the business of music and also the importance of building that that board of directors and talk to people that aren't in the finance world, but have them explain how do they look at tax professionals? How do they look at financial advisers? How do they look at insurance professionals from their eyes? And what establishes trust? So that was episode 30, and we had a great time with them.
John Tripolsky:So And these and these are fun too because we do find a way, like you mentioned, to kinda stitch in tax to these a little bit. Right? But, also, too, it's great because you're getting an insight from other individuals, other professions, and and how they view these things. Right? So we talk, you know, earlier and a little bit later all the time about a personal board of directors.
John Tripolsky:And I think every guest that we've had had on at some point, we've touched on that a little bit. Right? Like, how certain people play a part, which is huge, which is
Chris Picciurro, CPA:absolutely huge. So we back came back on to episode 32, had Jeff Hampton on. Now Jeff has a YouTube at the time he came on, he was just getting started in his YouTube channel. He's exploded with his YouTube channel. He's an attorney, works a lot with real estate, works a lot in the short term rental space, and that's episode 32.
Chris Picciurro, CPA:So Jeff Hampton talked through the legal insights for short term rentals. So remember, at that point, there's a 100% bonus depreciation for the 2022 returns, you know, and short term rentals were really, really hot and heavy. There were lower interest rates at that time. And Jeff did a great job talking through the legal part of short term rental properties. 2023 in you know, July 2023, it was I think this episode actually came out on July 4, Independence Day, which we came back in episode 38, brought our buddy Andrew Pulos back.
Chris Picciurro, CPA:It I'm was really hot and steamy in Atlanta, Georgia that summer, but he still joined us. And I feel like I remember I remember recording this. You know, we didn't film at that time. And the funny thing, John, is I don't know if you remember this, but I think we we recorded this one or the other one. I was actually up in your neck of the woods in Chelsea.
John Tripolsky:Yeah. We were too busy.
Chris Picciurro, CPA:Working and and we're the office I was set up in, I want I'm not kidding. It was over 80 degrees I I was in the building. I was sweating like a pig at the slaughterhouse.
John Tripolsky:We were cooking, man. And it was funny with that one too. It's I remember that very, very vividly. Giant window, really hot day abnormally here. AC wasn't working very good.
John Tripolsky:And, yeah, there's a lot of hot air coming out of me and Chris when we start talking about some of this stuff. So we it got warmer and warmer and warmer.
Chris Picciurro, CPA:But Andrew came back on. There was a you know, talking about the IRS notices was a was a great episode, and we wanted to hear some more stories. You know? Like and he did a great job talking through some more stories. And then took another get about a month break, and and we had Brenna Carls from The Mortgage Shop back on in episode 42 and, you know, to talk about mortgage prep one zero one.
Chris Picciurro, CPA:So how are you, you know, how are you preparing yourself before you apply to for mortgage to put yourself in the best light possible? The next episode, episode 43, went back to one of my buddies from the pickleball course. John, I've got a real quick story about Dave Alger. So Dave Alger, has a has a podcast, that he talks about, money tips, for for kids. And we did a money tips for teens episode, empowering parents on how to talk to their teens and and children about money.
Chris Picciurro, CPA:That's episode 43. True story. I don't think I told you this, John. But about a, you know, week or so ago, my son my youngest son played in a baseball tournament in Pigeon Forge in Tennessee. I went of course, I went and played pickleball in the morning in just some random court.
Chris Picciurro, CPA:It was actually Sevierville City Court. I show up, didn't know a soul. Guess who's there? Dave Alger. And we're in the same league at back in Franklin, Tennessee.
Chris Picciurro, CPA:Three and a half hours away, he just pops up on this random court. It was so fun to and I was I was like, oh my gosh. How crazy was that?
John Tripolsky:Of all places too. Did you know that's actually where me and my wife, you know, Stacy took our delayed honeymoon? Was there?
Chris Picciurro, CPA:Yes. Yes. I I With her daughter. Love was in the air, John.
John Tripolsky:All the through. Me on it, so that's plus in an hour.
Chris Picciurro, CPA:So that's, yeah, is a great spot. So money tips for teens. Then we go we had and a lot of these topics are really driven by that defeating taxes private Facebook group. We've seen this group grow well over 2,000 people. Grow almost like 2,500 people in the group now, and that drives a lot of our questions.
Chris Picciurro, CPA:So so took a little break, about a month break from guests, came back with a very complicated topic. We talked to Jason Mall, who's a CPA here in Middle Tennessee and, a friend of the program. You and I have, like him a lot. We've worked together on mutual clients. He's got a really good, great, firm that he he operates, but we had him come in and talk specifically about employee employment classification from a tax perspective.
Chris Picciurro, CPA:That w two verse ten ninety nine and and for any of the tax professionals listening or watching, you you know, you you cringe when you hear that. I'm a w two employee. I'm a ten ninety nine employee. No. You can't be a ten ninety nine employee.
Chris Picciurro, CPA:You can't be a w two contractor. You're either one or the other. So Jason really did a great job breaking that down on
John Tripolsky:episode two. We're we, sir, are gonna hook a blood pressure monitor to you one time, and I'm gonna ask you a bunch of questions. And this is one of the ones that I know I can at least raise yours by 10% just
Chris Picciurro, CPA:by saying. There's a pretty good chance. Well, one of the three laws of teaching tax law is that tax agencies are our involuntary business partner. Tax laws are in an encouraging, discourage certain behavior. That's a mouthful.
Chris Picciurro, CPA:However, episode 49, we're like, let's go behind the curtain, And we did an episode called How Taxes Are Made. We had an awesome guest. John, I just well, unfortunately, were you you had your speaking of your aunt honeymoon, you're on your you had your wedding anniversary, but I got to see LaShawn Thomas. LaShawn work works in Michigan with the Michigan Association of CPAs as a government relations, expert, and she took us behind the curtain talking through how taxes are made, how bills are passed, and that was awesome. That was very insightful.
John Tripolsky:Great person and a great topic, and I remember the day that we actually met her. It was at an event. We're just sitting down there during a happy hour or something talking. And I remembered she must have assumed that, you know, I was a CPA or something. I'm just sitting there kinda nodding my head, and then she told me what she does.
John Tripolsky:I'm like, what? Like, what do you what do you mean? Like, how did the two and how did they go hand in hand? So listen to that episode if you guys wanna hear a little bit more in behind the scenes. That was great.
Chris Picciurro, CPA:And then the next episode, we had another tax professional, John Neal, out of Wisconsin, very knowledgeable, and he has really grown his social media presence and content. And he talked he works a lot with small businesses or new I should say, new businesses and talk through why businesses fail. I I wanna say he's probably got at least thirty, maybe forty years of experience. I can't remember exactly, but he was a really very knowledgeable guest. That's episode number 50.
Chris Picciurro, CPA:And we took quite a long break, about a almost a three month break from having guests on, and then jumped back in and had our girl, Heidi Henderson, another free frequent flyer, on the, TTF airplane.
John Tripolsky:People are gonna start thinking we blackmailed her into coming back on with us because she's on more than I think
Chris Picciurro, CPA:She well, she's a great guest, but she talked through cost segregation studies. You know that's something we talk about almost on a weekly basis in her private CPA practice. So we were we'll talk talk to her about cost segregation studies. So, definitely, that's still an episode I sent to many people to educate themselves, and that's episode 62 back in December 2023. I took about a month break, and guess what happened?
Chris Picciurro, CPA:There's this law called the corporate transparency act. Create a bunch of just a bunch of issues, a bunch of content. We had Jeff Hampton from Hampton Law back on to talk about that corporate transparency act. Since then, the CTA, what we call it, is about it's gone. Unless you have owners of a foreign business, you have no corporate transparency act filing requirements.
Chris Picciurro, CPA:But at the time was a very, very high stress, you know, topic.
John Tripolsky:That was probably in my even in my marketing career. Right? Like, CTA to me is always called action. I keep hearing this CTA, and this is the one that's gonna haunt me for the rest of my life. It feels like it it would change like the stock market.
Chris Picciurro, CPA:Is it gonna happen? Is it not?
John Tripolsky:Is it gonna what's gonna go? It was interesting.
Chris Picciurro, CPA:I mean, yeah, it was there, but it bounced it bounced back and forth a million times. It's like watching someone told me it's like watching a tennis match, you know, like, back and forth. Our man, Andrew Pulos, we actually we should send him some flowers or something. Probably maybe a box of chocolates. I don't He came back on because we we talked about the IRS.
Chris Picciurro, CPA:The IRS was changing, and we did our twenty twenty four IRS update, and that's episode 68. When and then took a break from guests for a month and went back to a guest episode 72. You know, John, we have a I I feel very strongly that bookkeeping is the heart of any business without good books. You have you can't do any type of projections, and you can't do any type of tax planning. Very dear friend of both of ours, Lisa McCarthy of Out of the Box Technology came on and talked.
Chris Picciurro, CPA:We called it bookkeeping one zero one, the real deal. Bad episode 72 is a timeless one. So some of these, quite frankly, are very time sensitive. Like that corporate transparency act, I hey. If you wanna listen to it, please go listen, but I don't see a purpose of yeah.
Chris Picciurro, CPA:No real big listen. Right. Listen listen out. The 2024 IRS update, maybe you just love listening to Andrew speak, which is great, but it doesn't have much relevance today. This bookkeeping one zero one is something that I that still is relevant today.
Chris Picciurro, CPA:And then follow that back up a few weeks later. A special guest, Caitlin Rummel, business, talking through ten ninety nines. Now Jason Mall came on and talked about the Dermstream, a, you know, independent contractor and employee. If you're an independent contractor, they get issued ten ninety nines. We had Caitlin come in who's a bookkeeping bookkeeper extraordinaire and talk through the what, the when, and the how they are issued for October.
Chris Picciurro, CPA:And that was episode 75. Now you mentioned someone turned 50 this year, and guess what? It was me. And, 75. So whenever I play pickleball, the guy you know, people I play with probably never listen or watch us.
Chris Picciurro, CPA:I always say if the score is seven five, I always say seven five. Good year. Because that's my birth year. So that was episode '75.
John Tripolsky:And these, Chris, a lot too. I mean, I know we mentioned it all the time. Right? And you'd mentioned a little bit too. Some of these are a lot more of a deeper dive into a topic, and some are a little bit more high level.
John Tripolsky:So if if you somebody's kinda caught on this. Oh, well, you're talking about some of the stuff, but you feel like you've already mentioned They do all kinda tie together. And that's the glorious part I think about is doing these weekly. Right? As we could dive in deep on some, we can stay high level on others.
John Tripolsky:Really, it's we have full autonomy to dive in as deep as we want. And as mentioned, right, a lot of this is is kinda community driven. So we look at it. We're we're more answering questions on these, just having a discussion around it than us trying to preach anything. If this is anybody's first episode they've ever listened to.
John Tripolsky:This is completely different than what we normally talk about, but I digress.
Chris Picciurro, CPA:Episode 77, we we talk so one of the one topic that's been popular, our short term rental tax loophole. So we had Arda Birkin come in from that that is very experienced in managing short term rental properties, And he gave us some insights on, you know, what the short term rental property short term loophole is and some he actually gave us some good tips all on staging properties, picking demo like, what location they should be in and and that sort of stuff. So that was great. That was episode 77. Came back on episode 80.
Chris Picciurro, CPA:Modern payroll one zero one, Will Lopez of at that time, Gusto payroll. That was really good. That that anyone that's setting up payroll or thinking about paying a child or a spouse and has never had payroll for their business definitely wants to listen to that episode. So that was episode 80.
John Tripolsky:And that's on my that's on one of my top ones too, because we talked about how payroll if not gonna get it exactly right, how payroll is actually a a huge component of culture, if I remember correctly too, not just paying somebody. There's a lot more to it. So that that was a great one.
Chris Picciurro, CPA:Yeah. And then we went back episode 83. Our dear friend, Brooke Acre, certified financial planner, a wealth reimagined group, talked through LTC, long term care. Can you believe that was that was in May 2024? That I feel like we just recorded that episode.
Chris Picciurro, CPA:So do I. It's really crazy.
John Tripolsky:Probably because we me and you were both just in Brooke's office not too long ago.
Chris Picciurro, CPA:That's true. So, yeah, she lends us her office whenever we're both in the Detroit area, and she's a big friend of the program.
John Tripolsky:And, Brooke, if you listen to us, if you decide not to lend us lend it to us one day, we're just gonna break in. So you know?
Chris Picciurro, CPA:Or or we'll just go back in this episode and delete the last
John Tripolsky:There we go.
Chris Picciurro, CPA:Five
John Tripolsky:seconds. Fix it. Sorry.
Chris Picciurro, CPA:Fix it in the post. So and then after the Brookshire episode 85, we wanna talk through a 10:10 thirty one exchange update with Scott Saunders, API. So the asset preservation inc. Scott is, I I mean, absolutely amazing guest. He knows ten thirty one exchanges better than anyone I've ever talked to.
Chris Picciurro, CPA:And and and spoiler alert, we have him back on later. But that was great. So anyone considering a 10:31 exchange, this is another one of those timeless ones. Episode 85. Came back on episode 87.
Chris Picciurro, CPA:Had another friend of mine actually went to high school with. Really good guy, Jim Cunningham. He's an attorney, specializes in business transactions, specifically mergers and acquisitions. And we had him come on, and we talked about the tax and legal considerations when selling a business. And this is another episode that's pretty timeless for people that are considering exiting or people that are even you know, even if someone's considering buying a hand, I was talking to a prospective client about him buying a business.
Chris Picciurro, CPA:And I said, why don't you listen to this podcast episode? Because you're gonna get that feel of what the seller's thinking. Right? So there there it's always good to to know both sides of things. And then came back to episode 89, had a good friend, another pickleball player, but just a good friend, Bill Allen.
Chris Picciurro, CPA:Come on. You know, he's got a great social media following also. Very passionate about real estate, runs tons of I mean, just tons of stuff within real estate from
John Tripolsky:Yeah. On a positive note too, if we ever get a TTF plane, there's our pilot.
Chris Picciurro, CPA:Oh, exactly. Yes. So that was episode 89. If you're even thinking about investing in real estate, definitely listen to episode 89 with Bill Allen. Bounced back with episode 95.
Chris Picciurro, CPA:So I took a little break from guests, and we, you know, know in real a lot of ten thirty one exchange, and we've heard about DSTs, which were, you know, Delaware Statutory Trust, which we're gonna talk about in a couple minutes. But there's another DST deferred sales trust, And we had Todd Jackson on, Jackson Law here. He's actually based in Franklin, Tennessee. Extreme another extremely I I keep I feel like I keep repeating myself, but we don't have Gus on unless they are rock stars. So episode 95, that's another timeless one.
Chris Picciurro, CPA:Anyone that's thinking about selling real estate or really any type of business asset that is looking to spread the tax over several years, a deferred sales trust might make sense for you. So that's that's one you wanna listen to. Episode 99, we had Angelina Urquat on from Corpnet. We did talk about the corporate transparency act again because there's, of course, changes. At this point, that's real yep.
Chris Picciurro, CPA:I mean, Angeline is a great resource. She helps a lot of people form LLCs, acts as a registered agent with Corpnet. However, you know, corporate transparency act is is not
John Tripolsky:I think right about that point or not long after, right, the, the hole was already dug six feet under just to throw CTA into.
Chris Picciurro, CPA:Yeah. It was getting close there. And then episode 100 was our big celebration, and we did it on YouTube. We launched YouTube. Came back on episode one zero one.
Chris Picciurro, CPA:Had another good friend of the program, Caden Gunnell, also strategic associates. Caden's much more handsome than Roger. Hopefully, Roger doesn't listen to this we get a fight. No. They're both they're both good looking guys.
Chris Picciurro, CPA:But Kayden's a great guy. I I mean, I personally I work with him on a weekly basis, you know, in in the in the private CPA firm world. Talked about leveraged charitable giving. That's been a very popular episode, and I think timeless as well. So that's episode one zero one, leveraged charitable.
John Tripolsky:And thanks to thanks to Keen for being the first one on video besides me and you.
Chris Picciurro, CPA:So I know. I know. Kicked it off. Alright. Pretty good.
Chris Picciurro, CPA:And then, John, actually, we had, we there was a topic I I kinda want I wanted to tackle for a few, you know, for quite a few months, and we tackled in episode one zero four. We had a friend of yours come on. Yep. Chrissy Siders, talking through the difference between banks and credit unions. And I found that pretty insightful, actually.
John Tripolsky:Yeah. It was great. And and Chrissy always stood out to me. Right? I mean, being up here in Michigan, if you were ever meet her out in the wild, right, like out in public, you would never pin her as a banker, which is why I think it's great.
John Tripolsky:I mean, she's she's not your your average bank person. That was a great topic.
Chris Picciurro, CPA:She was very
John Tripolsky:like we dove into it in, like, so many different levels and, you know, what the differences are, what the pluses, and I would say pros and cons, but how they differ.
Chris Picciurro, CPA:Absolutely. It was really good exact yeah. I we didn't I didn't know as much about credit unions in which when is a bank or credit union best for someone? And and then a few few episodes later, another dear friend of ours, and, actually, I believe there's gonna be some content coming at teaching text to a YouTube channel, and a another and a fellow tax professional out of Pennsylvania. And like I said, dear friend, Kelly Bender.
Chris Picciurro, CPA:And from life, I believe her she's got life on taxed. Mhmm. And she did a great job. She talked through navigating the business life cycle. So she and her family run a great tax and accounting firm, again, in Pennsylvania that is very holistic.
Chris Picciurro, CPA:So they they do the bookkeeping and the payroll, and and it was really neat to see her insight.
John Tripolsky:And about four months later, we obviously, we had her back, which we'll get into. And that one, the next one we have with her is probably my favorite episode ever.
Chris Picciurro, CPA:Interesting. Okay. Let's go. Then episode one ten, we had Duke Alexander Moore come on, an enrolled agent. Just tons of energy, and it was talking about influencers and content creators tax, tax planning, bookkeeping.
Chris Picciurro, CPA:But Duke has millions of followers on on social media. Again, he's a very dynamic tax professional, someone that I was lucky enough to meet and hang out with. Actually, in Manhattan, in New York City, gosh, the year before yeah. I think that was the year like more stuff and I don't even remember. It was it was a while.
Chris Picciurro, CPA:It year or two ago. Probably a couple years ago with the Intuit Connect. He was the emcee for that event, and we I was able very fortunate to be a panelist there. So I got to got to meet him in person and then keep we've been in contact. We've actually worked talked through different tax planning ideas, and to have him on the podcast was awesome, man.
Chris Picciurro, CPA:You if you need an energy boost, you don't need a coffee. Just check out episode one ten. That's that's
John Tripolsky:It's a great way to put that one. Absolutely.
Chris Picciurro, CPA:That's for sure. Took out now episode one twelve. We talked about capital lost harvesting harvesting strategies with Alex Caswell and Alex and his associate Colby Davis, and Alex is a financial adviser based on the West Coast. Another person I work with a lot on mutual clients in the private CPA practice, and he did an amazing job just talking about a an advanced capital loss harvesting strategy. So if you have a large capital gain, I, at times, send this to to people as well.
Chris Picciurro, CPA:A lot of times people say, oh, I got this big gain. I don't know what to do with it. I don't have any losses. Just trust me. Check out episode one twelve.
Chris Picciurro, CPA:Then took a little break, went back to Michigan for a guest, a CPA, Carina Miller. She is so knowledgeable. I know I really enjoyed this episode, and we talked about taxes and the cannabis industry. Again, maybe not the largest reach as far as Yeah. People listening.
Chris Picciurro, CPA:However, absolutely timeless, and Karina was so it's just, I mean, that's her wheelhouse. That's our your go to if you have if you yourself or know anyone in the cannabis industry and need any type of accounting tax payroll, whatever you need, she and her team are your people. No doubt about him. And then episode one twenty one, like you just mentioned, we had Kelly Bender back on. And another topic we've been we've been trying to, should I say, cultivate.
Chris Picciurro, CPA:I guess we're going through cannabis to farm tax. I gotta get out. So
John Tripolsky:Well, we went from harvesting to to cannabis to farm.
Chris Picciurro, CPA:Yeah. So Koreans are not Kelly Bender came back on. Yep. We just I don't know if we I feel like we laughed half that episode just because she's so fun.
John Tripolsky:Oh, it was great. And I think why I like it so much too is, I mean, that might be the the episode we dropped more dad jokes in than anything. And it was it was great. I mean, what a great and, obviously, we covered a lot of good topics, but it was interesting. A lot of things that you don't think about in the farming and the ag world.
Chris Picciurro, CPA:Absolutely. It was really it was really good. So farm tax was great. So if you're a farmer or an old farmer, episode one twenty one, took about a month break. Episode one two five, Warren Thomas from exchange rates.
Chris Picciurro, CPA:I mean, I keep repeating myself extremely knowledgeable, but talk through Delaware statutory trust, which is a which could be used in a $10.31 exchange. I I mean, in exchange rate, they they do a great job. I know you've met some people from there as well when you were in town, and they happen to be in town. And but Warren did an amazing job. And so anyone thinking about, again, that ten thirty one exchange or Delaware Statutory Trust, if you've heard of the the DST, that episode's for you.
Chris Picciurro, CPA:That's episode one twenty five. That's another timeless one. I can't tell you how many times I've sent that sent that to people.
John Tripolsky:And that's the other DST.
Chris Picciurro, CPA:Yes. That's the other DST. So And then episode one twenty seven, another topic we wanted to tackle for a long time were social social security. So Rob Sorens is a financial adviser I work with as well in the private CPA practice. And Rob is is really knows his stuff.
Chris Picciurro, CPA:I actually went to a couple live in person presentations that he he did here locally in the Franklin, Tennessee area, and I was super impressed with his knowledge. So we had him come in and talk about social security. How to claim it? When to claim it? When to claim it off of your spouse's record?
Chris Picciurro, CPA:When to claim it off of your record? That's another timeless one. So it's episode one twenty seven, and and you might not be you might be thinking, I'm not close to Social Security age yet. I'm telling you, take a few minutes and check that podcast out. Episode one twenty nine, we had Court Pitcher on, and Court is a blast too.
Chris Picciurro, CPA:Another just rock star in their industry. And we talked about estate planning 101. We just went with as basic as you can, just talking the difference between a trust and a will and court and and they I think he did an amazing job.
John Tripolsky:You know? And then some too that some people I think of a a difficult time of explaining it to where it makes sense to everybody and you don't lose them along the way. He did a great job of that. I I remember that one specifically as well because some of these topics, right, if if you're not in every day and you're not a 100% tuned in to listening to everything about it, you wanna know everything, it's kinda hard for you to mentally tune in. But that was a great one.
Chris Picciurro, CPA:Yeah. And so Court is is the founder of Legacy Lock. They are a podcast sponsor also. So if you have if you haven't done any type of estate planning yet and you want someone, you know, to talk to someone and, that's very reasonably priced. Doesn't matter what state you live in.
Chris Picciurro, CPA:I would encourage you to check out Legacy Lock, and please reach out to us because they take really good care of anyone in the teaching tax law community. So wanna thank Court on that one. Came back with episode one thirty one. Had our friend Tom Lani on. Tom talking about infinite banking with whole life insurance strategy that my wife and I use personally called the gold diagnosis in teaching tax flow, and that's episode one thirty one, another timeless one.
Chris Picciurro, CPA:So it's so nice to have people that I trust and work with often on the podcast as guests, and their content is like I said, it's timeless, and I and a lot of clients and just listeners really enjoy enjoy it.
John Tripolsky:And fun fact with that one too with Tom, if I remember right, he was an audio engineer. Yeah. Started off, and then he he kinda got into his world that he's in now from being able to take advantage of something that somebody set him up with, and he kinda forgot about in the past. So that was a great story on how he got in.
Chris Picciurro, CPA:We're back on episode one thirty four, Parker Barofsky of Movement Mortgage. Man, she and I know she's got maybe you could speak just for a quick minute on her. You know, she's got a whole playlist on our YouTube channel. Extremely knowledgeable. We talk through financing your second home and that could be a that could be a snowbird home.
Chris Picciurro, CPA:That could be a rental property. It could be any type of second home that you're thinking of purchasing.
John Tripolsky:And you're right, Chris. That so there's a whole playlist on our YouTube channel. We coerced Parker into doing this with us. We have a couple actually, a bunch more of these that are coming out. It's just one of the sponsors in the podcast.
John Tripolsky:This is not a paid promotion by any sense. But their approach there is so cool because I wouldn't say that they don't say no to anything, but they're very creative in things that Chris, it's like you. Like, if somebody came to you and said, oh, you know what? I a a tax question, tax issue, something along those lines and planning forward, they do the exact same thing in the mortgage world. I mean, that could speak firsthand.
John Tripolsky:It's like I mean, not from working with them, but, like, I hate going to get a mortgage. Like, literally, like, I I say that word very far and few between, but I absolutely hate doing it because I don't like it. I don't wanna get into it. I'm irritated before I even start. And she explained some great things.
John Tripolsky:So check out that those pod I mean, just the discussions, the reels, everything in that playlist is awesome. It's great.
Chris Picciurro, CPA:Then we've been another topic, digital asset reporting. So that was cryptocurrencies, those EFTs or not EFTs, those NFTs. Oh, man. I'm so lucky to know Tunisia goes by Ty Gaines. First of all, just had a great time with her just on the podcast, let alone her knowledge.
Chris Picciurro, CPA:She is an enrolled agent, nationally recognized speaker on digital assets, and she broke down digital asset reporting such a complex thing in in an easy way. And Ty is definitely a friend of the program, and we we want to continue to lean in her knowledge moving forward and have more content with her, as well. She's great. So, I mean
John Tripolsky:That that definitely was a great one too. I think that would we had a ton of fun on as well. It was nuts. I'm so glad called her. Here's my dad joke.
Chris Picciurro, CPA:What's that? I'm sorry?
John Tripolsky:Oh, did say she tied all Yes.
Chris Picciurro, CPA:Episode one forty, we talked about BRRRR method. Now I was not on this episode for reasons I will go untold. I had a little scheduling faux pas on my part, but I think it was better without me. Had Jim Ingersoll on, just like Bill Allen, another titan in the real estate industry runs I mean, Jim's got a huge reach, a huge following. We went to one of their live events this year for the first time.
Chris Picciurro, CPA:It'll be an annual event for us called Dealmakers. That one's in Richmond, Virginia, but there are dealmaker chapters all over the country. And Jim really broke down BRRRR method, which is your you know, for people that are buying and rehabbing properties and then refinancing and running them out and doing it again. So happy to the best
John Tripolsky:overall group of people I've ever met at a conference in my entire life.
Chris Picciurro, CPA:Yeah. They are phenomenal. So that was episode one forty. Then came back episode one forty three, which is just a couple months ago or a month or so ago. Less than a I don't know.
Chris Picciurro, CPA:About a month ago. Had Curtis McCulloughman talking about the mindset and money, and Curtis is a he's he's he was a he's a financial he was a financial adviser, But now he's a mindset coach and just helps people find their blind spots financially and in life. And that was he's very impactful. So that was great. And definitely, you know, hope that some he's been able to connect and meet with people in this this community based on based on that.
Chris Picciurro, CPA:And I I really enjoyed that episode. Then guess what happened? The one big beautiful bill act was passed on July 4. Okay. I have to pivot.
Chris Picciurro, CPA:Right? Came and it's on episode one forty five. Got Scott Saunders back. API. Right?
John Tripolsky:He avoided us for a year, and then we got
Chris Picciurro, CPA:him back. Yeah. He might be a two year no. It was a year. A little over a year.
Chris Picciurro, CPA:Yeah. Came back from from from his hiatus from us and talked about the one big beautiful bill or o b three act as far as real estate investment opportunities. Now Scott is with API, and Asset Preservation Inc. They do specialize in ten thirty one exchanges, but Scott broke down all types of real estate, opportunities within OB three. Check that one out.
Chris Picciurro, CPA:If if you're remotely interested in real estate, check out episode one forty five as well as, Jim Ingersoll's at 01:40, and and then Bill Allen's episode at one or at eighty nine. Final guest, episode one forty eight, another topic we've been waiting for our a perfect guest for. Brady Weller is was the perfect guest to talk through a section 12 o two stock or what is also known as QSPS, qualified small business stock, and how you can, if you're a business owner, potentially pay, avoid millions and millions of dollars of taxable income when you sell your business. And that's episode one forty eight. And that I can't I I feel like we just hit episode 100.
Chris Picciurro, CPA:Yeah. It's so funny on so some of these seem like yesterday, and some of these seem like a long time ago. I don't not not and I really don't know why. Like, it's
John Tripolsky:just I remember that first one. I remember recording that first one that we did the video, 100. Even though we recorded them all on video, we just didn't use it. But, yeah, it seems like it was just maybe two months ago. Yep.
John Tripolsky:It flowed flew by, man. Flew and looking at all these topics kinda going through them, it's very rare if ever we've ever actually done this and gone through all the ones. And these are just ones I guess. First one. These are not the topics that, you know, we even touched with.
John Tripolsky:And there were there was a couple other ones in there. But overall, like, what a what a ride.
Chris Picciurro, CPA:Mhmm.
John Tripolsky:Man, what a good and there's no reason to slow down.
Chris Picciurro, CPA:No. I can't wait to see where we're at after 200 episodes, and we're gonna keep rocking and rolling. I know this is a longer episode, but thank you for sticking in there. And think about this. Guess what, guys?
Chris Picciurro, CPA:Listening to this and cataloging episodes with guests is a little easier than the Dewey decimal system. And if you know what that is, you're in my age bracket. But, yeah, thank you so much for everyone in this community. Thank you. I mean, I genuinely mean this.
Chris Picciurro, CPA:Like, every download, every listen, every comment is appreciated, and it really fuels our fire to to build a tax planning and strategy community. It's something that doesn't exist, in my opinion, out there, that we need.
John Tripolsky:Absolutely. Absolutely. Well, this is awesome. I'm glad we did this. I know it's, it was kind of, like you mentioned, a little bit longer.
John Tripolsky:But, yeah, we will see everybody back here again next week. Completely, completely different topic, but we'll keep the train going. And you know what? You don't have to go home, but you can't stay here because we're out. On to episode one fifty one next week, we'll see everybody.
John Tripolsky:Have a great week. Questions, drop us a line. Remember, show notes, wherever you're listening to, it's either here or here. Seen it on this side. Most likely there.
John Tripolsky:There's a link to every one of these. So if you heard something resonates with you a little bit, click on it, listen to it, kick up the speed if you wanna hear me and Chris sound like, Alvin and the Chipmunks. If you wanna hear a really good time listening to it. But check it out. Any questions, let us know.
John Tripolsky:If you wanna get in touch with anybody specific, let us know. We're happy to make the connection, reach out to them directly. That's what we're here for. That is our sole purpose of doing this. So we love it.
John Tripolsky:We love the questions. Have a great week, as I mentioned. We'll see you back here soon.
Disclaimer:The content provided is for educational purposes only. We encourage you to seek personalized investment advice from your financial professional. For all tax and legal advice, please consult your CPA or attorney. Investment advisory services are offered through Cabin Advisors, a registered investment advisor. Securities are offered through Cabin Securities, a registered broker dealer.
Disclaimer:The content of this podcast does not constitute an offer of securities. Offerings can only be made through an offering memorandum, and you should carefully examine the risk factors and other information contained in the memorandum.
