SEVEN Questions for 401(k) Plan Sponsors

In this episode, Bonnie Yam delves into essential retirement plan considerations, providing listeners with a comprehensive guide to managing terminated account balances and conducting regular plan reviews. The discussion navigates the complexities of fee structures, offering insights into understanding and exploring alternatives. Emphasis is placed on enhancing employee participation through education, highlighting strategies to engage and inform employees about their retirement plans. The episode wraps up with a recap and closing remarks, followed by contact information and an offer for further assistance to support listeners in their retirement planning endeavors.

Bookkeeping and Payroll Essentials

In this episode, Bonnie Yam hosts an expert in bookkeeping to explore its critical role in business growth. The discussion distinguishes bookkeeping from accounting, offering clarity for business owners. Listeners are introduced to recommended tools and software to streamline bookkeeping tasks. The episode addresses common bookkeeping errors and evaluates the pros and cons of DIY bookkeeping versus hiring a professional. Key payroll topics include essentials for business owners, the distinction between employees and contractors, and implementing a smooth payroll process. The importance of timely payroll is highlighted to avoid penalties. The episode concludes with an audience Q&A on payroll setup.

Tax Strategies for Business Owners

In this episode, Bonnie Yam explores tax complexities for entrepreneurs with expert Donna Yam. They discuss corporate structures, tax implications, deductible expenses, and the importance of record-keeping. Key topics include home office deductions, asset depreciation, payroll taxes, business tax credits, and tax-advantaged retirement plans. Strategies for reducing taxable income, managing sales tax, and understanding state-specific regulations are highlighted. The episode concludes with essential tax planning tips and the benefits of entity restructuring.

Tax Strategies for 60 and above

In this episode, Bonnie Yam delves into financial strategies and benefits tailored for seniors. The discussion opens with an overview of tax strategies, deductions, and benefits specifically designed for the senior demographic. Bonnie then provides insights into health insurance options and Medicaid considerations, crucial for senior healthcare planning. The episode also covers the essentials of Required Minimum Distributions (RMDs) and the potential for charitable gifting, offering ways to optimize retirement assets. Additionally, listeners learn about utilizing 529 plans to support their grandchildren's education. The episode concludes with closing remarks and a reminder to subscribe for more insightful content.

Credits and Deductions - Important Tax Strategies with Atilio Calderon

In this episode, Bonnie Yam and Atio Calderon offer a comprehensive overview of tax deductions and credits, starting with a clear distinction between the two. The discussion covers refundable credits and compares standard versus itemized deductions, providing listeners with a better understanding of their options. The episode highlights popular tax credits applicable to all income levels, with a focused discussion on credits beneficial for low-income individuals and residential energy initiatives. As the conversation winds down, Bonnie and Atio provide a recap and offer final advice for maximizing tax benefits. The episode concludes with closing remarks.

Self Employed Professionals Tax Strategies with Atilio Calderon

In this episode, Bonnie Yam welcomes guest Atilio Kaldeman to explore the unique tax concerns and expense tracking challenges faced by the self-employed. The conversation begins with a discussion on distinguishing between employees and independent contractors, and the importance of quarterly tax reporting for contractors. Listeners gain insights into maximizing work-related tax deductions, including home office deduction rules and the use of health savings accounts. The episode delves into various business structure options and their tax implications, with an in-depth comparison of c corp versus s corp taxation. The importance of bookkeeping in business tax reporting is also highlighted. The episode concludes with contact information for further inquiries.

Tax Strategies for Contracted Workers with Atilio Calderon, ATAX Bellmore

Financial Wellness with Andi Wrenn

In this episode, Bonnie Yam welcomes Andi Wrenn to discuss her journey in financial consulting, highlighting the significance of financial wellness and the challenges it presents. The conversation shares inspiring success stories, demonstrating the transformative impact of financial coaching. Andi delves into the relationship between financial stress and productivity, emphasizing the importance of effective financial management. Listeners gain insights into resources for financial tracking and goal setting, including strategies for motivation through successful financial planning. The episode introduces Powerpay.org as a tool for debt management, concluding with additional resources on Andi Wrenn's work.

Cash Balance Plan with Ricky Atamian, October Three

In this episode, Bonnie Yam explores cash balance plans with a guest expert. They compare these plans to 401(k)s, focusing on unique employee benefits. Key topics include workforce demographics, nondiscrimination, vesting, and forfeiture. Listeners learn about identifying ideal candidates, income consistency, and the IRS permanency rule. The episode also covers costs, expenses, market return dynamics, and fixed rate interest credits. It examines pooled accounts, in-service distributions, and strategies for maximizing deductions, highlighting investment flexibility. The episode wraps up with contact information and closing remarks.

Navigating Secure Act 2.0 and 401(k) Updates with Marc Fowler, Human Interest

401(k) Plan Investments - Pension Maxima Investment Advisory

In this episode, Bonnie Yam delves into the intricacies of pension management, providing an overview of various investment options. The discussion begins with an examination of participant demographics and how these influence investment selection. Bonnie explores the differences between passive and active investments, shedding light on the often-overlooked mutual fund fees. The conversation transitions to the role of fee-based Registered Investment Advisors (RIAs) and the increasing popularity of target date funds as a retirement strategy. Listeners are introduced to investment monitoring tools, including Rxstreamer, which offers low fee alternatives. The episode wraps up with closing remarks and contact information for further assistance.

401(k) Plan Fees - Pension Maxima Investment Advisory

In this episode, Bonnie Yam provides an introduction and comprehensive overview of retirement plan fees, emphasizing their significance in managing a healthy retirement plan. The discussion explores the various factors and components that make up these fees and underscores the importance of evaluating them regularly. Listeners gain insights into how to obtain and interpret a plan fee report, crucial for informed decision-making. The episode also highlights the vital role a financial adviser plays in managing retirement plans effectively. The conversation wraps up with a conclusion and a call to action for listeners to take charge of their retirement planning.

Plan Score and Admin Red Flags with Yon Perullo, CEO of RiXtrema

In this episode, Bonnie Yam introduces the topic of 401(k) products and the concept of a plan score, with insights from a guest expert. The discussion begins with an overview of 401(k) products and the importance of understanding a plan score. The episode delves into how to calculate this score and why it holds significance for maintaining a healthy retirement plan. Listeners learn about what constitutes an acceptable plan score and the necessity of tracking it annually. The conversation highlights how to identify and address potential red flags in a 401(k) plan. The episode concludes with final thoughts and resources for those seeking assistance with their plan score.

Plan Fiduciary Interview with ERISA Attorney, Ary Rosenbaum

In this episode, Bonnie Yam welcomes Ary Rosenbaum to discuss the complexities of 401(k) fiduciary responsibilities. Ary explains the potential consequences and penalties for failing to uphold these responsibilities and shares best practices for maintaining fiduciary compliance. The conversation covers effective strategies for reviewing and managing plan fees, identifying red flags, and preparing for audits. They also touch on the importance of voluntary compliance for delinquent filings. The episode is sponsored by Fiduciary Shield and concludes with closing remarks and expressions of gratitude.

Tax Minimization with Loren Hollingsworth

In this episode, Bonnie Yam introduces the topic of tax minimization with a focus on the Leveraged Ownership Series Strategy. Guest Loren Hollingsworth shares his background and delves deep into the specifics of this strategy. The discussion covers the various types of income that the strategy impacts and examines IRS considerations, including audit history. Lauren shares endorsements and reviews of the program to provide a comprehensive view. The episode concludes with closing remarks and contact information for further inquiries.

Tax Minimization Strategies with Chris Hynes

Bonnie Yam introduces Chris Hines, who shares insights into traditional tax minimization methods and introduces the dual harvest program. Chris explains how this program benefits charities, providing details on its tax advantages. The discussion includes an example scenario and highlights the program's limitations. They delve into the timeline for investment, financing, and participation, and provide an overview of various tax credit programs, including Native American credits. The episode wraps up with closing remarks and a preview of the next episode.

Human Relationships with Steven Howard

In this episode, Bonnie Yam welcomes Steven Howard to explore human connection and corporate relationships. Steven discusses challenges in corporate human relations, leadership dynamics, and balancing short-term profits with long-term sustainability. They delve into employer-employee trust issues, management hypocrisy, and the effects of remote work on communication. Strategies for effective communication and employee growth are shared, along with Steven's insights on leadership in personal life. The episode highlights the importance of brain health and lifelong learning, ending with a teaser for the next episode.

Connelly Case (Corporate Life Insurance impact on Company Valuation ) with Anthony Mento

Bonnie Yam welcomes Anthony Mento to the podcast, where they dive into the Connolly case and provide an overview of buy-sell agreements. The discussion expands to cover the implications of a recent Supreme Court ruling and its emotional and financial impact on business owners. They explore estate tax avoidance strategies and delve into cross purchase agreements, offering solutions for businesses with multiple partners. The importance of reviewing and updating business agreements is emphasized, along with the role of life insurance in funding business exits. The episode wraps up with closing remarks and a preview of the next episode.

Long Term Care with Claude Thau

Bonnie Yam welcomes Claude Thal, who shares his expertise in retirement and long term care planning. The episode covers key elements of developing a long term care plan, including understanding costs and types of care, and the timing for purchasing insurance. Claude addresses common hesitations, comparing self-insuring to buying insurance, and explores financial planning strategies. A case study highlights family dynamics in planning, emphasizing early discussions and optimal decision-making age. The conversation includes financial mechanisms for premiums, tax benefits, and New York's tax credit incentive. The episode concludes with final thoughts on long term care insurance and a preview of the next podcast topic.

Prosperity Thinkers with Kim Butler

Bonnie Yam introduces Kim Butler, who shares insights on personal finance, focusing on cash flow and savings. The discussion highlights the pivotal role of education in achieving financial security and explores the concept of Prosperity Thinkers and whole life insurance. Kim emphasizes the importance of financial education for both parents and children, providing guidance on how to get started with financial planning. The episode concludes with strategies for measuring financial growth, helping listeners understand and track their financial progress.