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 We're diving into a topic that might not be the most exciting, but it's definitely something we can't ignore: taxes. It's easy to feel overwhelmed by the tax process, but understanding a few key things can help ease that stress and even save you money.In this episode, I’m gonna give you the lowdown on some tax basics. I'll talk about how the tax system works and what you need to know to make sure you're not leaving any money on the table. I'll also dive into what kinds of things you need to account for, like income, property, and other sneaky taxable items.So, get ready to learn some valuable tips that will help you keep more of your hard-earned money in your pocket. Trust me, this is one topic you don't want to overlook!IN TODAY’S EPISODE, I DISCUSS: The basics of how taxes work & using it to your benefitThe difference between a deduction and a tax creditKey moves to consider before the tax filing time IRS Code Section 179: How does it work?Retirement plans - How

Are you investing in cryptocurrency? Do you know that you may be subject to taxes on your investments?  Join me in this episode as I dive deep into the topic of crypto taxes. From capital gains to income taxes, I’ll cover the different types of taxes you need to know about. Plus, I’ll provide you with useful tips on how to properly report your crypto earnings to the IRS.Whether you're a crypto pro or just dipping your toes into the digital asset world, this episode is a must-listen to ensure you're on top of your tax game. Don't miss out on this valuable information – tune in now!IN TODAY’S EPISODE, I DISCUSS: Taxable and non-taxable crypto transactionsUnderstanding capital gains in cryptoThe importance of third-party software for crypto taxesRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Do this before you file your 2022 tax return...How one client saved $24k on their taxes by becoming an S CorporationHow Entrepreneurs Really Build Wealth!Should You Convert

 It's time for another exciting episode of Money Mentoring Over Coffee, where we get down to the nitty-gritty of all things finance and provide you with expert advice. We've got interesting questions pouring in through our hotline at AskMelNow.com, and we're ready to tackle them all. Get ready for a no-holds-barred conversation about financial security, emergency funds, and so much more. This episode is all about making sure you’re properly equipped to handle your money and stay on top of the financial game.Whether you're just starting out on your financial journey or you're a seasoned pro, there's always something new to learn when it comes to personal finance. So, sit back, relax, and let's dive in!If you've got questions of your own, make sure to hit me up on my question hotline at AskMelNow.com.IN TODAY’S EPISODE, I DISCUSS: Should I pay off my credit card with a HELOC?Investing in private lending with a personal guaranteeDivorce and money issues can haunt youIs doi

As an entrepreneur, you have the opportunity to structure your business in a way that makes the most sense for you. But with so many options available, it can be difficult to know which one is right for your specific situation. Should you be an LLC, a sole proprietorship, or an S Corporation? Well, it depends on your situation and in this episode I'll break it all down for you.I'll walk you through the math and give you a worksheet to help you see if S Corporation is right for your business. So if you're looking to cut down on your tax bill or just want to improve your overall tax strategy, you're in the right place. Hit that play button, and let's dive right in!IN TODAY’S EPISODE, I DISCUSS: The different types of business entitiesImportance of having a good tax strategy for your businessThe best time to switch to an S CorporationRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:How to Go from Job to Entrepreneur with Amy PorterfieldHow Entrepreneurs

Are you tired of the daily 9-5 grind and ready to call the shots as your own boss? If so, buckle up because today's episode is one you won't want to miss!Join me as I delve into a fascinating conversation with my friend, Amy Porterfield, about her upcoming book, Two Weeks Notice, which offers advice for anyone considering making the leap from corporate life to entrepreneurship. Amy will take us on a journey through her experiences and the lessons she learned along the way, giving us a behind-the-scenes look at what it takes to become your own boss.Amy is a leading expert in online marketing, who has successfully built a multi-million-dollar digital course business. She is passionate about empowering new entrepreneurs to take control of their finances and turn their knowledge, ideas, and skills into profitable online businesses.So, if you're ready to take control of your finances and live your entrepreneurial dreams, hit play, and let's get started!IN TODAY’S EPISODE, I DISCUSS: Amy's

For sure, financial freedom is a top priority for all of us. And, who wouldn't want that peace of mind and security that comes with having control of their finances? But the thing is, it's not just about having a high income or a big bank account. It's about having the right habits.That's why I've developed my own framework that helps you make the switch from the habits that are holding you back to the ones that will propel you forward. By taking action and changing your habits, you'll be on your way to achieving financial freedom and the peace of mind that comes with it. Trust me, this episode is packed with practical advice and actionable steps that will help you make the change. So, don't wait any longer, seize this opportunity and take the first step toward your financial freedom!IN TODAY’S EPISODE, I DISCUSS: The change motivators that will help you take actionThe steps you can make to stick to habits that'll bring you financial freedomSix habits to quit & six

How do your daily behaviors, choices, and habits impact your financial future? More importantly, what are the essential habits to cultivate if you want to create wealth?I’m going to answer these key questions in today’s episode and go even further. I’ve always found that building wealth is like building anything else in life - if you adopt strong habits, those habits become the norm. They become second nature. Understanding and learning the key wealth habits of successful entrepreneurs is a good starting point. These habits will help you build a solid foundation for your wealth, enabling you to create a lifestyle that is both meaningful and financially secure.It's time to take control of your financial destiny, and this episode is the perfect place to start!IN TODAY’S EPISODE, I DISCUSS: The seven wealth habits that will help you build your financial futureThe four wealth drivers matrix and how each of them impacts your overall wealthWhen is the right time to investRECOMMENDED EPISODES FOR YOU If you lik

How do you measure wealth? If you ask most people, they’ll tell you that they measure it by what’s available in your bank account. However, I actually believe that you measure your wealth in time. Then, when you do that, you start to look at the dollars differently.Here’s what I know, no matter how much money you have in your accounts, if you aren’t in control of your time, it is a poor existence because you’re beholden to someone or something else out of your control.My guest today, Megan Sumrell, is going to be a must-listen as you’re trying to create your affluent life because there’s more in common than you think between time and money management: they’re both limited and a result of our behaviors and choices. Megan, like most of us, reached a point in her life where she realized that trying to juggle multiple roles was not sustainable if she wanted to build a truly rich and fulfilling life. That’s when she decided to do things differently and found that a thriving life came from harmony, not from trying

What does it actually mean to truly live a life that matters? As much as I always speak about money, wealth, and business, living a life that matters is about the richness of your days. It’s about meaning, impact, and living life on your terms.We need to examine ourselves and our minds, and get clear about what we really want out of life. Spending time with your thoughts will help you take intentional action toward the goals that are relevant to you.So today, I want to help you conduct that self-exam by following a framework that will reveal who you are, what you have to offer, and the steps you need to take to get closer to your unique vision of significance.Once you have that clarity, you will start making choices today so you can get closer to the life you envision for tomorrow. You can start living a life that matters right now, so I can’t wait to share this framework with you!IN TODAY’S EPISODE I DISCUSS…My 5-step framework to help you create your own definition of meaning in lifeThe importance of not on

With the start of a new year, I see that the majority of my listeners have the resolution of doing things differently to win the money game. Today I want to give you the tools and tactics you need to change your money story this year for the rest of your life.Yes, there’s volatility around us. News about the economy may make you feel a sense of doom for your financial future. The good news is that this situation has created an opportunity to learn to place our focus, not on the external circumstances, but on the things we can really control: our actions, habits, thoughts, and patterns.So, as much as the world around you wants to make you think that taking control of your finances is complicated, if not impossible under the current circumstances, I am here to break that myth. You have more power than you realize.Remember that wealth depends more on behavior than on money. It depends on your habits, your decisions, and your choices. Let’s make sure that you write a different money story this year by implementin

Like most of my elite clients, you’re probably on a journey to building generational wealth because you want to make an impact on those around you: your family, your community, and the causes you care about.Today I’m talking about some wills, trusts, and other resources you can put in place to protect your wealth and legacy against potential lawsuits, fees, and even taxes after you’re gone.As uncomfortable as these conversations can be since they involve the idea of dying, they’re a priority that you shouldn’t postpone. In the end, it’s going to be less painful to have them now than to have your family deal with these questions after.Understanding and learning to handle them is an act of love, of protection, of making it easier for everyone around you. I want your legacy to live well beyond your years. I want to see you strive to live a life that outlives you.Disclaimer: This podcast is for educational purposes only and doesn’t constitute financial advice. Please reach out to a financial and legal advisor bas

When it comes to business growth, the possibilities are nearly endless. However, figuring out the best way to do it, to get more clients, or even how to start a business from scratch, can seem like daunting tasks.Instead of starting from scratch, there’s another option where you can take over another business, already successful, and let that business pay for the purchase price. That’s what my dear friend, Nick Bradley, is here to discuss with us today.You can step in and start growing a business that’s already generating cash flow and expand it, instead of establishing it from ground zero. Today, Nick will help you start looking at the world of business differently. He has a background in private equity and has made his life’s mission helping entrepreneurs be prepared to go into the private equity and financing world successfully and fully equipped so they too can enjoy full-time financial freedom.IN TODAY’S EPISODE I DISCUSS:The best steps to take if you’re just starting your entrepreneurial journey or if y

Most money blocks are the result of poorly told stories going on in our heads, stories that hold us back from generating the wealth that we deserve and from fulfilling our birthright: financial freedom.If this is you, I have good news! The problem is that most of these stories came from lessons in your life that were caught, not taught. So now you’re navigating from a money setpoint that was created unconsciously by default and observation.It’s time to take action, to stop ignoring your mindset blocks. If you don't deal with what’s happening in your head, you won't be able to deal with what’s happening in your bank account.Changing your money story will allow you to shift your behavior, which will in turn change your ability to create wealth. If you are ready to receive more support with eliminating your mindset blocks so you can experience a richer lifestyle, deeper impact, and the complete freedom that you deserve, visit www.affluencelive.com and join the waitlist to experience this transformation

With the new year quickly approaching, we all start thinking about our goals, dreams, and resolutions. But when we look at the numbers, we see that most people that set New Year’s Resolutions don’t accomplish them. What’s even more surprising, almost no one gets to even write down their goals and make a plan to achieve them.As you’ve heard me say before, goal setting doesn't matter unless you have a system, a process, and a framework for actual goal getting. So today, I’m giving you my framework so you can take those dreams out of your mind and actually make them a reality.Instead of becoming another statistical point, I want you to have a different story next year. You deserve to not only go after a goal but enjoy the journey to get there. You deserve to have a clear plan to be part of the 10% that actually reaches their goals. You too can experience true richness in life.In case doubt has been knocking on your door this year, I want to remind you that your dreams are worth it, your future is worth it.

It’s that time of the year again: taxes are around the corner, and as a proactive entrepreneur, it’s time to get ahead of the game before the end of the year so you reduce your taxes as low as possible, in the most legal way possible, so you can maximize how much of your earnings will remain in your pocket in 2023.Let’s face it, taxes can be one of the largest expenses…but it doesn’t mean there aren’t ways to keep more money in your pocket.In this episode, I'm going particularly deep and technical because I want to walk you through some of the key strategies that you need to start implementing now.As always, my goal is to help you understand these complex financial concepts so you can apply the secrets that millionaires are already using year after year to maximize their profits come tax season, and grow your wealth at a faster rate.I want you to make this a priority before December 31st. You deserve to plan ahead for your financial freedom, protect your wealth, and safeguard your financial future. Discl

Building sustainable success in business is a common goal for all Affluent Entrepreneurs. This was the goal of today’s guest, Laura Meyer, who went from bankrupt to becoming a seven-figure business owner in only four years.Laura started her first business as a wedding photographer over twenty years ago with rapid massive success. As time passed, she explored other business models and continued to grow, but this growth took over her life and she ended up filing for bankruptcy and having to start over four years ago.Laura’s story is full of lessons on business but more importantly how to handle difficult times and adversity with dignity, ethics, and decency. Then after examining her life and the choices that lead her to her bankruptcy, she established a new way of doing her business and building financial freedom.Get ready to get inspired to look at failure from a different lens, and to start tapping into the power of the honest relationships in your life as you build your business and your own version of your

If you’re like most entrepreneurs I work with, you probably love the holidays. With the holidays also comes the joy of constant celebration and gift-giving.It’s normal to experience the desire to show your appreciation and gratefulness by being generous to those you love. However, this joyful time can also bring a serious case of holiday hangover come January when the credit card bills come in with a balance higher than what you can actually afford.Today we’re discussing how to plan for your holiday gifting this season without breaking the bank. I want to help you think through how to give smartly without putting you in a situation that you’ll regret later.At the end of the day, this episode isn’t about not giving or not being in the holiday spirit. It is about being realistic about your financial situation and making spending choices that won’t set you back financially for the rest of next year.IN THIS EPISODE I DISCUSS: 12 steps to optimize your spending this holiday seasonHow to make sure your family is no

It’s that time of the year when we all start reflecting… We all take a moment to be grateful for the people in our lives and the things we have.As we celebrate Thanksgiving in the US this week, my hope is to light the path for you to experience a richer lifestyle regardless of where you are in your financial journey. As I’ve touched on before, richness in life goes beyond money, it’s measured in the currency of experiences.If you’re a repeat listener of the podcast (and if not, you should be :-)), then you’re probably well on your way to creating your own version of an Affluent Life. For that, I’m so very proud of you! Yet, I also want to invite you to pause, think, and appreciate the journey itself…with all the highs and lows. Just like the melody of a song, the highs and lows create the depth of richness you experience.I believe today's society is starving for people coming from a place of gratitude and showing appreciation for others and themselves. I firmly believe that if we approach life humbly, co

You may have heard me say before… no one has money issues. The reality is that they’re actually money symptoms. Symptoms of decisions, choices, and behaviors of the past. I get that can be confronting but it should also be empowering to know that simply changing some behaviors can completely transform your financial destiny.Here’s the deal though, your decisions, choices, and behaviors are impacted by your attitude or learned biases around money and wealth.A bias is a way we process and interpret information. Our bias–and therefore our attitude– is often simply the result of our life experiences. The fact these attitudes could be the very thing that holds from the wealth and financial freedom you deserve.Wherever these attitudes came from we can change them. So today, I walk through some of the most common biases that may be robbing you of an affluent financial future.When you think differently about your money, you can act differently. When you act differently you'll have a whole new set of behaviors th

I bet by now you’re tired of hearing that more millionaires are created during recessions than at any other time. Personally, this is something that encourages me when I analyze the current state of the economy: when most people see challenges, an entrepreneur sees an opportunity.That’s why today I want to equip you with the tools you need to fill in the HOW portion of the puzzle. How do you build wealth during a recession? What exactly do you need to do? What is the game plan so you do it the right way?My goal is to give you tools and principles that have been proven to work so you can be prepared and protected against recession and any other economic hardship. I want to see you live peacefully through this and come out successfully on the other side of uncertainty.When you understand the basic concepts related to economic downturns, you'll realize that in reality, you have more power than you think and you’ll see where all the opportunities you’ve always heard about are.If you’re on your path to creati