What's Kenner French Thinking!

Whether you realize it or not, artificial intelligence is already part of your everyday life. AI predicts your web searches, personalizes your social media feeds and optimizes your online purchases – just to name a few examples. In the future, it will also play a major role in your long-term financial planning as an entrepreneur.

There is no doubt that 2020 has been a challenging year for small businesses. With the COVID-19 pandemic, racial equality protests and a looming economic recession, the business landscape has been transformed, and new trends are cropping up as a result.

If an entrepreneur is not at least thinking about implementing artificial intelligence they will soon be looking to leave the entrepreneurial ranks soon. Implementing AI is almost as important as buying computers nowadays. It will absolutely be essential to a company’s success going forward. No doubt!

An in-kind distribution from a traditional IRA is fully taxable, just as a cash distribution from a traditional IRA becomes taxable income. Just how is the cash value of the in-kind withdrawal determined? The fair market value of the asset is reported to the IRS as a step in the distribution

Think you can outsmart a computer? Probably not. If we are not as smart as a fifth grader why would you think that you could outsmart a computer that could do billions of calculations per second? That said, why would you want to leave your retirement in the hands of a financial advisor who is not using advanced technologies to help you?

Pension plans come in all shapes and all sizes. Long favored by employers for a variety of reasons, the defined benefit plan allows an employer to make contributions to a plan that guarantees to pay employees a defined benefit in the future. These plans can equate to large retirement and tax savings savings. If an entrepreneur has no employees, the retirement and tax savings are even bigger.

Are you an entrepreneur and it seems like retirement is years and years away? While it may appear this way, you owe it to yourself to look ahead and begin giving thought to a time in your life that may account for 20 or more years of not working.

A solo 401(k) is simply one that has no other participants except for the business owner themselves, generally speaking. These can be great ways to amass wealth in today’s competitive environment.  It helps with increasing retirement assets and also potentially lowering tax liability - two good things.

You as a business owner should know the top 15 metrics you should measure to gauge client satisfaction. This podcast count down was chosen from the editors of Forbes.com from submissions of its esteemed Forbes Business Council.

Here we explain what it means to “Vest” in a 401(k) plan.

So few people know that you, indeed, can put real estate assets in an IRA or 401(k) plan. Sometimes you could potentially have a rate of return as high as 20% per year or even more. It just may be the ticket to you becoming wealthy.

If you are an owner of a small business employing your spouse and children can potentially help reduce your family’s effective tax rate. What does that mean? That means you can save some dough. Sometimes you can save a lot of money in taxes!

Do you need a roadmap for your retirement plan? Going without a plan is like driving from New York to Los Angeles without a road map. Do you want to get to your destination don’t you? Same thing for your retirement plan.

Too many times does an entrepreneur say they are too busy to talk about their personal finances. These tips are must-dos which will help an entrepreneur with their personal finances.

Every entrepreneur should be thinking about easy solid tax strategies and we have them here...

Solopreneurs (entrepreneurs with no employees) feel like they are alone. They are not. We have 7 surefire ways for them to prepare for retirement and get tax deductions.

A good retirement/tax mitigation strategy for an entrepreneur with no employees is called a Uni-K Plan. It’s similar to a 401(k) but no employees are eligible thus making the entrepreneur rich.

Do you want to get rich? You could try and do so the old fashion way, and walk there or you could get in a Ferrari and get there quicker. AI is a means to lowering taxes and increasing rates of return. By listen to this audio you will understand the possibilities that are around us for machine learning.

As a result of this crazy COVID-19 issue it is of vital importance for many entrepreneurs to get their workforce back up and running so the company can move forward. This podcast gives a few helpful tips in getting workers back to work.

Don’t fall prey to the major retirement planning mistakes that so many entrepreneurs make. This audio should help you in staying away from some of the all too frequent mistakes.

Very briefly here we go into some specifics of solo 401(k)s. Sometimes these can be very flexible and help a small business owner to prepare for retirement while also lowering taxes

The time to save your parents from financial fraud begins now. Don’t wait until it’s too late and they’ve lost $100, $1,000, $100,000, or more.

In very quick form after we just started doing the podcast we have received a number of questions as to what is tax and financial engineering and what is it that Vast Solutions Group is about. In this quick podcast we outline just a little bit about those two items.

There are some real issues to think about when retiring single and this audio will indeed help.

In the short audio we go over the specifics of preparing for someone to sell their pride and joy, their business.