today's features
innovation & change management

ditching corporate america: the bold story behind pbs accounting’s rapid rise | the disruptors

after years in corporate roles, samantha hallburn created a firm where people come before profits—and business thrives because of it.

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the disruptors
with liz farr

samantha hallburn, founder of pbs accounting and tax, didn’t set out to be an accountant. after a progression through sales, marketing, hr, pr, and a stint as ops manager for a telecom company, she was working in banking. her business owner clients needed loans, but when she asked for financials, “they had no idea what i was even talking about,” she recalls.  

more podcasts and videos: jean zick: happy team = happy clients | breslin & greathead: be a client advocate | dominic piscopo: clear pay=bargaining power | debbie kilsheimer: stop thinking small | dave kersting: collaborate with co-firming | ashley francis: ai’s a partner, not a replacement | richard roppa-roberts: collaboration over competition | ira rosenbloom: m&a numbers are easy – culture fit is hard | roman villard: ditch the suit & shine | monique swansen: align firm values with services | tina mcgill: how to create lasting client impact | stefan van duyvendijk: develop operational mindset | steve evans: why traditional hiring methods fail | roger knecht: can you be an accountrepreneur? | beth whitworth: focus on outcomes not hours |mike sylvester: learn to say no | salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients

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instead of turning them away, she offered to help. “i started helping my banking clients by going to their offices on my lunch break, after work, before work, on the weekends, days off to help them be able to get me what i needed.” after one particularly bad day in the corporate world, she decided to “roll the dice” and create a full-time venture. 

“i absolutely had no idea what i was really getting into, and that it was just going to be this snowball. and we grew so fast because there was such a need and such a demand,” hallburn says.  

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podcast

amy vetter: reclaim time, energy, & purpose | the concierge cpa

“we’re afraid to communicate, we’re afraid to speak up.” 

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the concierge cpa
with jackie meyer
for 卡塔尔世界杯常规比赛时间

in a profession known for long hours and technical precision, amy vetter, cpa.citp, cgma, csp, ryt, offers a refreshing message.

there’s more to success than climbing the traditional career ladder.

more jackie meyer

the founder of the b3 method institute joins jackie meyer on the concierge cpa to share her journey from audit partner to yogi and mindful tech advisor—challenging firm owners to prioritize purpose and personal well-being.

“once i made partner, i thought i’d feel happier,” vetter says. “but success without alignment isn’t really success.”

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advisory & consulting

ten more things to tell your high-income clients | listicle

//www.g005e.com/category/checklist/listicle/by 卡塔尔世界杯常规比赛时间 research

your high-income clients probably know most of the topics on this list, but are they keeping up with them? are they making good decisions? do they know how changes in their lives, finances and businesses affect plans?

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use these talking points to maintain contacts with clients.

  1. optimize business structure for tax efficiency: high-income clients are often involved in several businesses. they need to balance s-corp, llc, partnership and other structures to maximize deductions and minimize self-employment tax.
  2. use family limited partnerships (flps): for clients with large estates, flps can help shift wealth to younger generations, manage assets and reduce estate tax exposure. clients need to know all the options and to make periodic adjustments. you may want to get input from various family members.
  3. set up a private foundation or charitable trust: a private foundation allows control over charitable giving while providing immediate tax benefits with a legacy of philanthropy.
  4. consider long-term care insurance: with rising health care costs, high-income clients should evaluate long-term care insurance options for retirement planning. plans need adjustment as clients (and spouses) age and their income changes.
  5. plan for education expenses with 529 plans: are clients up to date on tax-advantaged 529 accounts to save for children’s or grandchildren’s education expenses while benefiting from state tax deductions? touch base with clients to check for changes.
  6. optimize insurance policies: review life, disability and umbrella insurance policies to ensure adequate coverage and cost efficiency as wealth grows.
  7. develop a multiyear tax strategy: use income averaging, deductions and deferral techniques to level income across high-earning and lower-earning years. as you monitor the client’s income, suggest adjustments to the multiyear tax strategy.
  8. invest in tax-advantaged investments: municipal bonds, certain real estate investments and qualified opportunity zone investments can reduce taxable income while generating returns. there are new opportunities every day. clients need to know about them.
  9. diversify investment holdings across tax buckets: continuously balance assets in tax-deferred, tax-free and taxable accounts to create tax flexibility and efficiency in retirement. don’t let clients leave this for the end of the year.
  10. stay updated on tax law changes: for high-income clients, staying informed on tax law changes is crucial to adjusting strategies and maximizing savings. clients need to know about the changes, including impending changes. they need to know what to do about changes, and they need their accountant to advise them.

high-income clients tend to be very busy, but they will always make time to talk money. their accountant needs to talk with them often. use these 10 topics as reasons to contact your highly important clients.

pro member exclusive

a question of trust: not just for the wealthy

keep an eye on the sunset of the tax cuts and jobs act.

portrait of danny lohrfink
lohrfink
 danny lohrfink is the co-founder and chief product officer of wealth.com. previously, he was business lead of sofi’s wealth management division, sofi invest, and held several roles at goldman sachs private wealth management, including vp on the pwm management team.

by danny lohrfink 
the holistic guide to wealth management

contrary to popular belief, a person’s net worth is not the only – or most important – factor when deciding if a trust is appropriate for them. after all a trust is simply an agreement between someone who owns an asset and a trusted person whom they choose to hold and manage that asset for them.

more: trust and estate planning is for clients of all ages | annuities and insurance growing more attractive | quantifying the value of an advisor | raise your rates to change your clientele | how wealthtech is reshaping the future of holistic advice | profile of a modern firm: putting the vision into practice | tsunami of m&a, pe is disrupting the accounting profession | introducing you to a fulfilling return on relationships
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this common misconception that trusts are only for the wealthy has long prevailed as a leading narrative because of the historically high costs associated with establishing and managing a trust. these costs presented a barrier for many individuals who lacked the financial resources to hire an expensive estate planning attorney. the result was that only the wealthy had these vehicles because they were the only people who could afford them.
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accounting influencers

adam lean: get un-stuck | accounting influencers

“this is your chance to make a real difference.”

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accounting influencers
with rob brown

millions of accountants and bookkeepers are stuck in a cycle of overwork, undercharging, and undervaluation. in this episode of the accounting influencers podcast, adam lean, ceo and co-founder of thecfoproject.com, delivers a wake-up call: the compliance model is broken—and the profession must change course to remain relevant.

lean explains that for most clients, every accountant “looks the same.” they expect the books to be done and the taxes to be filed, and they rarely see the difference between high-quality and mediocre service. this makes it nearly impossible for accountants to raise prices or grow sustainably.

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