The Wealthy Wallet

Decision Financial Services
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The Wealthy Wallet

The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet. Podcast Host Monika Hengesbach has more than 30 years of experience in financial services. She’s an enrolled agent, an NTPI Fellow, and CEO at Decision Financial Services. Work with Monika Hengesbach: https://www.DecisionFinancial.com DECISION FINANCIAL 535 Silicon Dr. Ste 101 Southlake, TX 76092 Office: 1-817-268-9352 Fax: 1-800-860-6042 contact@decisionfinancial.com

Episódios

  1. 12 DE SET.

    Essential Exit Strategies for Business Owners | EPISODE 12

    7:20 What exactly is an exit strategy, and why is it important for owners to have one? 9:11 At what stage should a business owner think about an exit strategy? 10:11 What are key components of a successful exit strategy? 13:29 What are some common mistakes that business owners make when they're planning their exit? 18:19 How does a business owner determine the value of what their business is worth? 20:33 How do you help people navigate the psychological aspect of someone exiting their business? 23:09 Can you share some challenges that you have faced when you have helped clients? 25:27 What are the top three pieces of advice you would give a business owner who is starting to think about exiting? 26:53 Are there any books or resources you recommend? 29:07 How can people reach out to you? What's the best way? 29:39 Monika Hengesbach's tax tips when exiting your business Today on episode 12 of The Wealthy Wallet, podcast host Monika Hengesbach has Russ Ray, a financial planner from Ameriprise, in studio. Russ emphasizes the need for early and comprehensive exit planning for business owners, noting that 50% of business exits are unplanned due to unforeseen circumstances. He covers key exit strategy components, common mistakes like delaying planning, and strategies for managing taxes, including using C corporations and donor-advised funds for tax relief. Work with Russ Ray:https://www.ameripriseadvisors.com/russ.ray The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Subscribe:Don't miss an episode! Subscribe on your favorite podcast platform: Listen HERE: 🎧 Apple Podcasts: https://apple.co/4b2bQRL🎧 Spotify: https://shorturl.at/UW6Nc🎧 Transistor: https://thewealthywallet.transistor.fm Support the Podcast:If you enjoyed this episode, please consider leaving a review and sharing it with your friends! Your support helps us continue to bring you the latest. Podcast Host Monika Hengesbach has more than 30 years of experience in financial services. She’s an enrolled agent, an NTPI Fellow, and CEO at Decision Financial Services.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com

    33min

  2. 21 DE AGO.

    Savings Low? Don't Feel Blue ─ Monika's Tips Will Guide You Through | EPISODE 11

    On today's episode of The Wealthy Wallet, Monika Hengesbach continues the discussion on retirement planning, addressing concerns among seniors about their readiness. She cites statistics showing widespread worry, with 79% believing there's a retirement crisis and 55% fearing they won't have enough savings. Monika explains Social Security benefits, including eligibility, benefit calculations, and gender disparities. She also covers early and delayed retirement impacts, recent legislative changes like the Secure 2.0 Act, and the challenges young adults face in achieving financial independence. Monika concludes with her personal retirement planning insights and a preview of the next episode on business exit strategies. The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Podcast Host Monika Hengesbach has more than 30 years of experience in financial services. She’s an enrolled agent, an NTPI Fellow, and CEO at Decision Financial Services. Subscribe: Don't miss an episode! Subscribe on your favorite podcast platform. Support the Podcast: If you enjoyed this episode, please consider leaving a review and sharing it with your friends! Your support helps us continue to bring you the latest.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com

    25min

  3. 7 DE AGO.

    Financial Challenges in Retirement: Expert Advice From a Seasoned Bookkeeper | EPISODE 10

    1:15 Tell me why you chose to go into bookkeeping. 1:54 What exactly does bookkeeping entail? 2:24 Are there some common challenges that businesses face when they're doing their bookkeeping? 4:28 What key financial reports should business owners or entrepreneurs be looking at regularly? 6:27 What advice would you give business owners regarding their bookkeeping practices? 7:48 More on the reason why proper bookkeeping is essential 13:21 You should never pay a vendor or a contract labor person without getting a W-9 filled out first 14:17 Can you tell us your journey that has led you to retiring? 16:42 What are some of the biggest fears and concerns about retiring? 17:30 How does one emotionally prepare for retirement? 18:00 What steps do you take to financially prepare for retirement? 21:23 What are some of the biggest challenges you faced in regards to getting ready for retirement? 23:00 How do you think retirement today is different from previous generations? 24:15 What role do you think society should play to support retirees?  Our guest today on The Wealthy Wallet is our beloved bookkeeper Yvonne Hambright. The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Podcast Host Monika Hengesbach has more than 30 years of experience in financial services. She’s an enrolled agent, an NTPI Fellow, and CEO at Decision Financial Services.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com

    34min

  4. 25 DE JUL.

    Navigating Divorce: The A-Z Guide to the Unexpected | EPISODE 9

    4:50 What are the primary steps involved in a divorce? 6:02 What are the most common misconceptions people have about getting divorced? 7:12 What facts do courts typically consider when it comes to dividing marital property? 9:32 How is child custody determined? 11:51 How long after can someone go back to court and try to get back child support? 12:58 What is a prenup and a postnup? 14:27 How can someone best prepare for their first meeting with a divorce attorney? 16:21 Have you noticed any trends with divorce? Are they on the rise, or going down? 18:36 What do you find most rewarding about family law? 21:19 Can you share a success story or case? 25:19 Monika explains taxes in a divorce Our guest today on The Wealthy Wallet is attorney Leslie Barrows:https://www.BarrowsFirm.com The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Podcast Host Monika Hengesbach has more than 30 years of experience in financial services. She’s an enrolled agent, an NTPI Fellow, and CEO at Decision Financial Services.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com

    30min

  5. 3 DE JUL.

    Taxes in the News | EPISODE 8

    Happy 4th of July week! Today on Episode 8 of The Wealthy Wallet, Podcast Host Monika Hengesbach discusses the upcoming expiration of key tax provisions set to sunset in 2026, including the highest tax rate returning to 39.6%, reduced standard deductions, the lifting of the SALT cap, and changes to mortgage interest and unreimbursed business expenses deductions. She also covers the potential expiration of the Qualified Business Income (QBI) deduction, phased reduction of bonus depreciation, and the drop in the estate tax exemption, emphasizing the need for estate planning. Monika discusses strategies for managing estate taxes, such as using irrevocable life insurance trusts (ILITs), charitable donations, and family limited partnerships (FLPs), while clarifying that tips remain taxable income. They address tax code loopholes like Partnership Basis Shifting and cost segregation rules, and explore psychological factors in financial decision-making, discussing cognitive biases and offering practical tips for improvement. The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Monika Hengesbach has more than 30 years of experience in financial services. She’s an enrolled agent, an NTPI Fellow, and CEO at Decision Financial Services.  Work with Monika Hengesbach: https://www.DecisionFinancial.com DECISION FINANCIAL 535 Silicon Dr. Ste 101 Southlake, TX 76092 Office: 1-817-268-9352 Fax: 1-800-860-6042 contact@decisionfinancial.com

    33min

  6. 18 DE JUN.

    Tax Tips: How to Write Off Your Personal Training Sessions | EPISODE 7

    Today on Episode 7 of The Wealthy Wallet, Podcast Host Monika Hengesbach explores the link between fitness and finance with Kumbi Moretta, Founder of Leap Fitness. The episode concludes with financial tips on writing off personal training expenses as medical deductions and incorporating fitness benefits into employee plans. Work with Kumbi Moretta:https://www.instagram.com/leapfitness Monika Hengesbach has over 30 years experience in financial services. She is an NTPI Fellow, enrolled agent, and CEO of Decision Financial Services.  The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com #thewealthywallet #monikahengesbach #southlakepodcast #southlaketx #dallaspodcast #fortworthpodcast #podcasts #podcaststudio

    24min

  7. 12 DE JUN.

    Do You Think You're Ready For Retirement? ...Are You Sure?! | EPISODE 6

    Today on a new episode of The Wealthy Wallet, Podcast Host Monika Hengesbach tackles financial planning intricacies with Steve Jenkins, a Certified Financial Planner. Steve shares his journey from medical equipment sales to financial services in 2001, his insurance-based experience, and the founding of his firm in 2019. We explore detailed client discussions, early planning benefits, and the effects of the Tax Cuts and Jobs Act. Topics include roth conversions, hidden taxes, charitable giving strategies, and the impact of inflation on financial planning, highlighting annuities and life insurance as vital tools. Monika Hengesbach has over 30 years experience in financial services. She is an NTPI Fellow, enrolled agent, and CEO of Decision Financial Services.  The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com #thewealthywallet #monikahengesbach #southlakepodcast #southlaketx #dallaspodcast #fortworthpodcast #podcasts #podcaststudio

    47min

  8. 30 DE MAI.

    Proper Business Structure: Which One Is Right For You? | EPISODE 5

    In today's new episode of The Wealthy Wallet, Podcast Host Monika Hengesbach explores business entity structures and their tax implications. She emphasizes insights from a previous episode with attorney Aron Phillips and discusses sole proprietorships, LLCs, S-Corporations, and C-Corporations. Monika also shares practical tax strategies, including the Augusta Rule, and dives into taxable income variations across entities. The episode also addresses psychological biases in financial decision-making and the role of technology, stressing the importance of strategic planning and human judgment for financial success. Monika Hengesbach has over 30 years experience in financial services. She is an NTPI Fellow, enrolled agent, and CEO of Decision Financial Services.  The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  https://www.DecisionFinancial.comDECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com #thewealthywallet #monikahengesbach #southlakepodcast #southlaketx #dallaspodcast #fortworthpodcast #podcasts #podcaststudio

    28min

  9. 5 DE MAI.

    Managing Legal Pitfalls as an Entrepreneur (Things You Need to Know) | EPISODE 4

    In this new episode of The Wealthy Wallet, Podcast Host Monika Hengesbach invites Aron Phillips to dive into the intricacies of business ownership and the legal obligations that come with it. He offers valuable insights into common legal pitfalls faced by entrepreneurs and cautions against relying solely on online services. Together, they explore the nuances of business structures and emphasize the significance of personalized legal advice. Listen to gain a deeper understanding of property business ownership complexities and how to navigate them effectively. Work with Aron Phillips Law:https://aphillipslawoffice.com817-903-1414 Monika Hengesbach has over 30 years experience in financial services. She is an NTPI Fellow, enrolled agent, and CEO of Decision Financial Services.  The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com #thewealthywallet #monikahengesbach #southlakepodcast #southlaketx #dallaspodcast #fortworthpodcast #podcasts #podcaststudio

    53min

  10. 26 DE ABR.

    Maximizing Rental Income and Streamlining Loan Processes | EPISODE 3

    Sharon Sherley-Mylius, an expert in banking, shares valuable insights in this new video on the types of investment properties, the structure of loan products for real estate investors, and the process of loan acquisition. She also sheds light on how rental income is calculated for real estate investors and the factors that can speed up the loan process. This enlightening interview on a new episode of The Wealthy Wallet with podcast host Monika Hengesbach provides a wealth of knowledge for both seasoned and aspiring real estate investors.  Work with Sharon Sherley-Mylius:Worthington Bank817-656-6200sharonmylius@worthingtonbank.com Monika Hengesbach has over 30 years experience in financial services. She is an NTPI Fellow, enrolled agent, and CEO of Decision Financial Services.  The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com

    45min

  11. 8 DE MAR.

    Tax-Smart Real Estate Strategies for Property Investors | EPISODE 2

    Understanding real estate taxes, depreciation, write-offs and tax planning strategies that will benefit real estate investors is our topic today on Episode 2 of The Wealthy Wallet with Podcast Host Monika Hengesbach. Monika has over 30 years experience in financial services. She is an NTPI Fellow, enrolled agent, and CEO of Decision Financial Services.  The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com #thewealthywallet #monikahengesbach #southlakepodcast #southlaketx #dallaspodcast #fortworthpodcast #podcasts #podcaststudio

    39min

  12. 4 DE MAR.

    Tax Deductions: Why Hiring Your Kids Might Be a Good Idea | EPISODE 1

    Find out how to maximize your deductions by putting your kids on your payroll on this premiere episode of The Wealthy Wallet with Podcast Host Monika Hengesbach. Monika has over 30 years experience in financial services. She is an NTPI Fellow, enrolled agent, and CEO of Decision Financial Services.  The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet.  Work with Monika Hengesbach:https://www.DecisionFinancial.com DECISION FINANCIAL535 Silicon Dr. Ste 101Southlake, TX 76092 Office: 1-817-268-9352Fax: 1-800-860-6042contact@decisionfinancial.com #thewealthywallet #monikahengesbach #southlakepodcast #southlaketx #dallaspodcast #fortworthpodcast #podcasts #podcaststudio

    10min
  • 12 episódios

5
de 5
3 avaliações

Sobre

The purpose of this podcast is to give you tax tips, strategies, information on new tax law changes, and give you new tools to help you navigate life's unexpected financial curveballs, all in hopes to give you more money to put back into your wallet. Podcast Host Monika Hengesbach has more than 30 years of experience in financial services. She’s an enrolled agent, an NTPI Fellow, and CEO at Decision Financial Services. Work with Monika Hengesbach: https://www.DecisionFinancial.com DECISION FINANCIAL 535 Silicon Dr. Ste 101 Southlake, TX 76092 Office: 1-817-268-9352 Fax: 1-800-860-6042 contact@decisionfinancial.com

Informações

  • Criado por
    Decision Financial Services
  • Anos de atividade
    2 mil
  • Episódios
    12
  • Classificação
    Livre
  • Copyright
    © 2024 Decision Financial Services
  • Site do podcast
    The Wealthy Wallet

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