What's Kenner French Thinking!

Out of the Country? Pay Tax! Income Tax Requirements When Living Out of the Country Living in a foreign country holds a lot of appeal. It gives an exotic impression and seems like a never-ending vacation. But it doesn’t matter where you go, because the US government still expects you to file a tax return and pay taxes. This is true even if you become a citizen of the other country and live there f...

Common (Totally Wrong) Myths About Cryptocurrencies! As with any other fringe product or service, there are many myths surrounding cryptocurrencies. Cryptocurrencies aren’t just for computer geeks and drug dealers trying to avoid the government. Relieving yourself of these myths will permit the formulation of a more accurate opinion. It’s easier to make informed decisions when your knowledge is so...

Keys and blocksCryptography is the technique used to protect privacy of a message by transforming it into a form that can be understood only by the intended recipients. Everyone else will see it as only an unintelligible sequence of random characters. This message manipulation is enabled by a pair of keys, public and private keys: You share your public key with your friend, who uses it to transfor...

The IRS’ take on Cryptocurrency, or as the Service calls it, "Virtual Currency" is becoming more and more essential to investing and holding the assets. Why? Virtual currency transactions are taxable by law just like transactions in any other property. Taxpayers transacting in virtual currency may have to report thosetransactions on their tax returns. WHAT IS VIRTUAL CURRENCY?  Virtual c...

Crypto is a unique currency. It’s completely virtual. Crypto isunsupported by any central bank or other authority. It’s notthe official currency of any country. Yet all of these are bothadvantages and disadvantages. Whether or not crypto is anadvantage for you is dependent on your situation. Crypto have several advantages over conventionalcurrency:1. Crypto can’t be physically stolen, generally. T...

Cryptocurrency (now termed “Crypto”) is a digital monetary system. Instead of “dollars,” the unit of currency is referred to as a “Bitcoin.” Like traditional money, cryptos can be used to store and transfer value among other crypto users within the crypto community. Bitcoin is considered a cryptocurrency. The currency utilizes blockchain technology and cryptography for management and creation of t...

A nonqualified deferred compensation (NQDC) plan is an elective or non-elective plan, agreement, method, or arrangement between an employer and an employee (or service recipient and service provider) to pay the employee or independent contractor compensation in the future. In comparison with qualified plans, NQDC plans do not provide employers and employees with the tax benefits associated with qu...

The end of the year provides an ideal opportunity to reflect on the status of your personal finances and review your evolving goals and objectives for the year ahead. Below are seven things you MUST do to be prepared for a fun New Year’s Eve: Get Organized. Pull together all of your important papers, including any wills, trusts, life insurance policies, homeowners insurance, and other pertinent fi...

Because cryptocurrencies are classified as “property” rather than as securities, the wash-sale rule does not apply if you sell a cryptocurrency holding for a loss and acquire the same cryptocurrency before or after the loss sale. You just have a garden-variety short-term or long-term capital loss depending on your holding period. No wash-sale rule worries. This favorable federal income tax treatme...

Everyone has heard of Bitcoin, even if they don’t fully understand it. There are numerous other cryptocurrencies besides Bitcoin. There are seemingly hundreds of cryptocurrencies, and most of these were released in the last couple of years. Coinmarketcap.com lists 100 cryptocurrencies. Many experts believe the numbers will continue to climb. In fact, with creator coins now available the space coul...

People think April 15th is Tax Time but actually if you get things organized at that time it is too late. Get ready now — June, July, August. Tax laws can be confusing, leaving many unsure of what they may deduct and how they should file. However, according to the Internal Revenue Service (IRS), the process can be simpler than you may think if you attack it the right way.

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com . Join us, as Kenner explains IRA's plus the advantages of having them. The known definition of IRA's are individual retirement accounts (IRA) which are tax-advantaged accounts that individuals use to save and invest for retirement. Are you maximizing your retirem...

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com. Join us, as Kenner delves into some unique tax strategies that can be utilized to lower tax liability for entrepreneurs. Whether you are an established entrepreneur or starting a side hustle to supplement your income.  As always, one of Kenner's top recommendations ar...

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com. Join us, as Kenner outlines Five Easy Essential Tax Tips for Entrepreneurs. 1) Tax Harvesting2) Using Long Term Capital Gains vs short term capital gains3) IRA contributions4) Using backdoor Roth IRAs5) Qualified plansOne of Kenner's top recommendations are for entrep...

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com . Join us on this podcast, as Kenner outlines the top tax tips that has helped VastSolutionsGroup.com save their clients a wealth of taxes for their businesses. We will touch upon: 5) Qualified retirement plans - 401(k)s 4) 831(b) 3) Roth IRA Conversions 2) 453(a) 1) R&...

On today's episode, we are joined by Kenner French, CIO of VastHoldingsGroup.com and executive at VastSolutionsGroup.com and Asset protection attorney Robert “Bob” Bluhm of the Asset Defense Team. Join us as Attorney Bob Bluhm explains how to use legal entities to reduce liability and lower the risk of being sued, with a brief introduction to entities and their meanings.  If you have any ques...

So much confusion about cryptocurrency and how the IRS judges it. This podcast outlines some of the specifics surrounding the cryptocurrency world which is becoming so popular and appears to be mainstream with the IRS will help investors tremendously. This was the first podcast of its kind on the green room platform to be live and include tax issues.

The IRS has given little guidance about the “right” amount of S corp salary. This episode provides some guidance.

Everyone with property or children should have a will. It is especially important if you have children, since a will can provide instruction of your wishes regarding who will take care of your children. A will must meet several requirements in order to be considered legally valid: There must be testamentary intent. This is fancy way of saying that the will was created with the intention of acting...

7 Steps to Organizing Your Finances You might not consider yourself to be an organized person, but your finances are the last place you want to be disorganized. Having too little cash at the end of the month is a challenge, but overdraft fees and late fees every month are an even bigger concern. By getting organized you dramatically cut down on the likelihood of these things happening. Follow thes...

In today’s ever changing environment, it’s important for any successful business to develop a competitive advantage in the marketplace and mitigate the risks that come along with day-to-day operations. Customers are looking for added benefits when choosing a product and, with the amount of competition in the marketplace, customer retention is becoming increasingly difficult. Custom warranty progra...

When traveling for business related purposes, the majority of your expenses are deductible. Costs ranging from your plane ticket, a portion of your meals, lodging and even entertainment are tax deductible.

In addition to receiving a tax deduction for the portion of your home expenses that applies to your home office, these expenses for your home office are also tax deductible: 1. Phone. In order to write off your phone expenses, you'll need to separate your home line from your business line. If you're seeking a landline phone, you can score a deal for about $30 per month. However, you can...

Don’t be the Entrepreneur who makes these mistakes that seemingly everyone makes. Listen to this podcast to learn how to not make the same mistakes that so many entrepreneurs make in there entrepreneurial journey.

Estate planning is the thing that people have heard of but really do not know what it is.  Is it law, legal, finance, etc?  Well, it is all those things and more.  This podcast will provide the basics and essentials of estate planning so you have a foundational knowledge of the very important topic.