Wealth Mavericks

If you’re tired of overpaying taxes, this episode is for you!  In this episode, we break down the difference between active and passive income, and why understanding both is crucial for doctors looking to save on taxes and build long-term wealth. From the complexities of the tax code to practical strategies for structuring your finances, we’ll show you how to navigate the system and make it work i...

In this episode, Bob, Joe and Erin discuss how proactive tax planning can transform the stress of tax season into peace of mind. They highlight the benefits of starting early in the year, including greater opportunities to save money and structure assets strategically.  With insights tailored to physicians and business owners, this conversation dives into how thoughtful tax planning can reduce lia...

In this episode, we dive deep into a crucial question for high-income professionals, especially doctors: Are your assets truly working for you? We explore how misaligned assets can lead to unnecessary taxes and inefficiencies, and how you can realign them to create long-term financial success. With real-life examples, we discuss common mistakes and provide strategies to ensure your assets are serv...

Rebuilding trust after being burned can feel overwhelming, but it’s possible to move forward with confidence and clarity. In this episode, we explore how to reflect on past experiences without carrying the weight of mistrust into the future.  Learn how to distinguish trustworthy relationships, release fear, and step boldly into new opportunities with faith and confidence.  Connect with Erin on Lin...

Today we continue our conversation about forging a different path and doing things differently than the herd. Bob is a lived example of stepping off the path that most financial advisors and tax pros take and it led him to create Terra Firma.   Tune in to hear Bob’s story and the steps he took to walk away from the heard and develop his own path. Doc you deserve a team that works as hard as you do...

Venturing off the beaten path can feel daunting, especially when it comes to something as important as your finances. Many of our new members share the same hesitation: if nobody they know works with a tax strategist, why should they? In this episode, we’ll explore why separating from the herd can be a powerful move. Hear the story of how Bob saw the massive gap in tax planning for small and mediu...

  It’s a common frustration: you ask your CPA about a tax-saving strategy, only to be met with skepticism, resistance, or a downright no. If they’re the expert, why aren’t they helping you save more? In this episode, we tackle the disconnect between tax preparation and tax planning - and why your CPA may not be equipped to maximize your savings. Learn why most CPAs focus on filing taxes instead of...

Running a successful medical practice takes more than excellent patient care—it requires strong business fundamentals, too. Unfortunately, many doctors were never taught these skills. In this episode, we’re diving into how we help our members not only save on taxes but also optimize their practices for peak performance.  Discover the strategies we use to help doctors enhance efficiency, boost prof...

In this brief episode, we look at the facts around offshore accounts. Are they really the tax-saving solution they’re often made out to be? We explain what offshore accounts are, explore their perceived benefits, and highlight the risks and compliance headaches they can create.  Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/   Schedule some time with Erin: https://meetings.h...

Real estate often comes up in conversations with our prospects, and for good reason—it’s a powerful tool for building wealth and reducing taxes through strategies like depreciation. But is real estate always the best fit for your financial goals? In this episode, we explore the different types of real estate investments and break down the pros and cons of each.  Tune in to learn how real estate ca...

As a doctor, you start your career in a unique financial position—often with significant debt and compressed earning years. This can lead to a rush of big purchases once the paychecks start rolling in. But is your money mindset working for or against you? In this episode, we explore the difference between scarcity and abundance mindsets and why knowing where you stand on that spectrum is crucial....

In this episode, we unravel the often-overlooked tax implications of buying, selling, and holding cryptocurrency. While crypto has become a trendy and exciting asset class, it comes with unique tax challenges that could impact your financial health.  Tune in to learn how crypto transactions affect your federal taxes, whether it’s the right investment for you, and what steps you can take to stay co...

In this episode, we dive into the powerful role fear plays in our financial decisions - especially around taxes. Many prospective members come to us wary of tax strategies, convinced that saving on taxes might be risky or even illegal. But here’s the truth: the IRS intentionally builds the tax code to help businesses thrive.   We unpack the roots of this fear, how it holds us back, and why the unk...

In a world full of investment options - real estate, stocks, business ventures, etc. - it’s easy to get lost in the noise and wonder where to invest your money.  In this episode, we explore why a tailored plan is crucial and how what works for one person may not work for another. We’ll discuss the value of asking questions (even the ones that might feel “dumb”) until you fully understand the inves...

In this episode, we discuss the importance of “beginning with the end in mind” when it comes to your career or practice as a doctor.   Having a clear vision for your future not only helps guide your decisions but also ensures that you’re working toward something meaningful. Without a plan, you risk reaching the end of your career realizing you don’t have enough or should have done things different...

Tax planning isn’t a once-a-year task—it’s a year-round, strategic process that goes far beyond just filing with a CPA. Many business owners and high-income earners procrastinate on their taxes because they feel overwhelmed by the mounting pressure leading up to deadlines. After each tax filing or quarterly payment, they may feel brief relief, only for the pressure to build again for the next dead...

In this episode, we dive into the first step of our process, which we call our Cash Flow Recovery conversation. This powerful tool, developed by Terra Firma founder, Bob Wolf, gives you a clear estimate of what your true tax obligation should be. By reviewing your income and pinpointing your actual lifestyle expenses, we uncover the taxes you’re paying that you don’t need to be. Tune in to discove...

🔥 Tune in today for practical tips on how fast decisions can create big wins.  We all settle for things that frustrate us - often without realizing it. But what if you could break free from indecision and start solving the problems that hold you back? In this episode, we dive into how to recognize the things you can change and find the courage to actually change them, especially when it comes to...

It’s a question we get often: If I start paying less in taxes, won’t I get audited? It’s a natural fear, but it’s one that’s often unfounded, especially when you have a strategic tax plan in place, which includes reasoning and documentation behind everything within it.te Join us for this episode and learn about the steps you can take to lower your risk of an audit.  Connect with Erin on Linkedin:...

In this episode we look at the pros and cons of a Defined Benefit Plan for doctors.  This strategy comes up a lot as a way to save on taxes, but whether it’s the best option for you depends on your unique situation. Listen in and learn how to assess whether it’s the right move for you. Connect with Erin on Linkedin: https://www.linkedin.com/in/enevicosi/   Schedule some time with Erin: https://mee...

A few weeks ago we created an episode featuring our answers to the top 5 questions we get most often from prospective members -  and it was a hit! Today we continue the Q&A with 5 more FAQs. We understand the natural skepticism that comes with considering a new financial team, and when following a different path you haven’t gone down before. The way we work and the strategies we recommend for...

In today’s episode, Bob, Joe and Erin each share the top three personal development books that have had the biggest impact on them. Having read countless books over the years, it wasn’t easy narrowing it down - but they did it. Listen in as they share their top takeaways from each book. Whether you’re a seasoned reader or just starting your personal growth journey, you’re sure to find valuable ins...

Today we talk about the steps that high-earning W2 doctors can take to dramatically lower their tax burden.   If you’re a doctor who’s frustrated by your high tax bill, and your accountant has told you that there’s not much to be done, or if you think that those high taxes are simply inevitable as your success grows, you won’t want to miss this episode.  Connect with Erin on Linkedin: https://www....

Today we’re answering the 5 most common questions we get asked from prospective members. We understand the natural skepticism that comes with considering a new financial team, and when following a different path you haven’t gone down before. The way we work and the strategies we recommend for our members are usually not what people are accustomed to, because they’ve never worked with a tax planner...

🔍 Today we share how you can improve your decision-making process and where we commonly see doctors struggle.    More businesses struggle with indecision than bad decisions. Many high-performance people struggle with speed of implementation which is the speed at which someone can learn a new concept/opportunity and the speed at which they are able to make the decision and execute. Most people ove...