Wealth Manager – WealthStyle Podcast

Common Tax Mistakes for Business Owners and How to Avoid Them With Mike Nulty

By WealthStyle Podcast | August 10, 2024

How do you keep your tax records clean and avoid those dreaded IRS audits?

This week, Mike Nulty from Matthews & Nulty, Inc. joins Iván Watanabe and Evan Wohl to discuss effective tax strategies for individuals and small business owners. They dive into common mistakes, like poor record-keeping, and provide actionable tips on how to avoid them.

So, tune in and learn how to keep your financial records clean and stay ahead of potential IRS audits!

Key episode discussion points include:

Keeping business and personal finances separate for clear record-keeping
The value of using tools like QuickBooks to track business expenses and revenues
How regularly reviewing your financials (on a monthly basis) can help you stay proactive rather than reactive
Timeline on taking tax deductions and understanding their long-term implications

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About Our Guest:

In early 2015, continuing with the firm’s core values, James Matthews made Michael W. Nulty a partner of the firm. Like James, Michael is also a graduate of Saint Peter’s University, in Jersey City, New Jersey.

Before becoming a partner of the firm, Michael spent seven years working under James, polishing his craft in accounting, auditing and tax. Together, James and Michael have a wealth of knowledge and have helped numerous entities both for profit and not for profit, become successful.

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The Psychology of Love & Money with Dr. Carmela Bennett

By WealthStyle Podcast | March 4, 2024

Talking about money can be challenging for couples. It’s not just about the numbers; it’s about the emotions, values, and power dynamics that come into play.

In the latest installment of WealthStyle, Evan Wohl and Iván Watanabe are joined by licensed psychotherapist Carmela Bennett. Carmela brings her extensive experience to the table, providing insights into how couples can approach their finances in a way that strengthens, rather than strains, their relationship. She offers tips that encourage couples to engage in regular, stress-free discussions that promote transparency and understanding to lead them to a healthier financial future.

Evan, Iván, and Carmela discuss:

Carmela’s experience dealing with different couples
How your history and learned behaviors with money impact your relationship
Strategies for transparency and overcoming negative money beliefs
And more

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Connect with Dr. Carmela Bennett:

About Our Guest:

Carmela Bennett, a psychotherapist with 30 years of experience, has run a private practice in NYC since 2016, specializing in relationships, addiction, anxiety disorders, PTSD, and developmental trauma treatment using somatic experiencing. With a Doctorate in Leadership from Columbia University and a Masters in Marriage and Family Counseling, she is also a certified Somatic Experiencing practitioner and holds a CASAC addiction specialist certification.

In addition to her therapeutic work, Dr. Bennett internationally coaches executives, organizations, and universities, integrating her two decades of experience in human development. Her expertise lies in creating individualized plans for expanding strategic leadership capacities, developing emotional intelligence, and enhancing communication skills, especially under stress and conflict.

Carmela’s lifelong involvement in expressive arts, particularly dance and movement, shapes her passion for integrating creativity into her work, reflecting her focused, intuitive, and creative approach to life.

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Strategies for Managing Single Stock Positions with Andrew McCall

By WealthStyle Podcast | January 8, 2024

Have you considered including covered calls and collars in your investment strategy? What options should you consider when looking at contracts for buying and selling investments?

Tune in as Iván Watanabe and Evan Wohl speak with Andrew McCall, regional consultant at SpiderRock Advisors. Andrew walks through some savvy options strategies, like covered calls and collars, that can help balance out the risks and tax implications while you’re working on diversifying your investment portfolio.

Andrew discusses:

What are the options strategies discussed for managing single stock positions
Where does SpiderRock’s technology and expertise focus in terms of customizable option solutions
Why are options considered contracts for buying or selling investments at specific prices in the future
What are the downsides and trade-offs of using the covered call strategy
And more

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Current Market Dynamics with Evan Wohl and Rob Pruett

By wealthstylepodcast | October 23, 2023

Predicting the future is something that many people expect investment and wealth advisors to do, especially when it comes to fluctuations within the market.

Join Evan Wohl and Rob Pruett from OPUS Private Client, LLC, for a candid discussion surrounding the current market dynamics and how advisors can help clients create flexible plans based on timeless investment principles.

Evan and Rob discuss:

Current market conditions and challenges facing clients
The importance of sticking to a long-term investment plan
Ongoing increases and changes to tax rates, interest rates, and inflation
Why you should work with a professional for financial planning
And more

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Connect with Rob Pruett:

About Our Guest:

Robert P. Pruett has been a wealth advisor with Opus Private Client, LLC for 14 years performing planning for high-net-worth individuals, families, and business owners. Rob uses leading-edge advanced personal planning techniques to protect and maximize each client’s wealth, retirement, and estate plans. Rob also consults with 50-to-800-person firms to deliver high-value corporate benefit programs, with a special focus on delivering healthcare savings of 10-15% or more through Opus’ proprietary reimbursement program offering.

His specialties include asset management, institutional investing, tax planning, life insurance, disability, annuities, and long-term care insurance, corporate benefits programs, executive benefit programs, retirement, and estate planning, and legacy and charitable planning.

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Tax Strategies for Financial and Retirement Planning

By wealthstylepodcast | July 31, 2023

When building a retirement plan, you need to look beyond your individual accounts. How will each type of account save you money? How will they protect your retirement income from high tax rates?

In this episode, Iván Watanabe and Evan Wohl focus on asset allocation and what needs to be considered when creating retirement income assets. They discuss the impact of taxes on retirement planning and how different accounts provide opportunities to save and withdraw retirement funds while avoiding high tax rates.

Iván and Evan explore:

The importance of considering the taxation of different asset vehicles
When to withdraw from different types of accounts
What to consider when making an investment decision
How different investment buckets provide options when withdrawing retirement income
And more

Resource:

An Eye on Investments with Russ Carpentieri

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How to Stay on Top of Your Fitness Goals with Gideon Akande

By wealthstylepodcast | July 17, 2023

Everyone wants to be healthy and exercise, but it’s a chore to find time and energy to complete the list of activities at the gym. How can you maintain consistency when it comes to reaching health goals?

In this episode, Iván Watanabe and Evan Wohl interview Gideon Akande, an elite fitness coach and consultant, about creating personal health and wellness consistency. He shares tips to transform exercise and healthy eating from a chore to something enjoyable and ways to trick yourself into being healthy without thinking about it.

Gideon discusses:

How he started his health journey and commits to 15-minutes of movement every day
Ways to transform exercise into something you want to do, and will keep doing
Why and how external pressure is an excellent motivator for reaching your goals
How a professional can help with health the same way advisors help with money
And more