Category: estate planning

(Ep. 46) Real Reason Why Rich People Pay Less in Taxes - Tax Planning Tips & Tricks with KC Chohan
(Ep. 46) Real Reason Why Rich People Pay Less in Taxes – Tax Planning Tips & Tricks with KC Chohan

(Ep. 46) Real Reason Why Rich People Pay Less in Taxes – Tax Planning Tips & Tricks with KC Chohan

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In this 46th episode of the Ideas by Mike podcast, host Mike Milligan, CFP interviews KC Chohan, founder of Together CFO, who specializes in tax strategies for high-net-worth individuals and entrepreneurs.

KC shares his journey from working in a Fortune 500 company to becoming a fractional CFO, emphasizing the importance of understanding tax loopholes and structures to optimize financial outcomes.

The conversation covers various topics, including the future of taxes, the differences between W-2 employees and entrepreneurs, charitable giving, and real-time tax planning scenarios. KC also warns about scams in the tax planning space and stresses the importance of understanding tax strategies before signing any agreements.

YT Link: Ideas by Mike Podcast Episode 46 – Click this link to watch it on YouTube

 

About our Guest:

KC Chohan is a tax strategist and the founder of Together CFO, a firm dedicated to helping entrepreneurs, solopreneurs, and high-net-worth individuals legally minimize their tax liabilities. He specializes in transitioning business owners into family office structures to protect their assets and optimize their long-term wealth.

Connect with KC Chohan on LinkedIn
Together CFO – (YouTube –‪@TogetherCFO‬)
Instagram – Kc Chohan Together CFO

To learn more about us, visit www.1oakfinancial.com   |  Don’t forget to subscribe to our YouTube Channel for latest updates!

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(Ep. 43) How to Stop Fighting About Money: "Financial Therapy" Tips w/ Ashley Quamme
(Ep. 43) How to Stop Fighting About Money: “Financial Therapy” Tips w/ Ashley Quamme

(Ep. 43) How to Stop Fighting About Money: “Financial Therapy” Tips w/ Ashley Quamme

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In this episode of Ideas by Mike podcast, we dive deep into the intersection of love and money with Financial Therapist and “Fractional Financial Behavior Officer,” Ashley Quamme.

🎧 What You’ll Learn: Many couples struggle with financial arguments, not because the math doesn’t work, but because the psychology doesn’t align. Mike and Ashley discuss why financial planning often fails without a psychological component, how to identify your “money scripts,” and the secrets to building a “Wealthy Marriage.”

Whether you are a saver married to a spender, or a financial advisor looking to better serve your clients’ emotional needs, this episode bridges the gap between the spreadsheet and real life.

 

Guest: Ashley Quamme, LMFT, FBS®, CFT-I™ Visit Beyond the FP: https://www.beyondthefp.com/

Connect with Ashley Quamme: https://www.linkedin.com/in/ashley-quamme/

Host: Mike Milligan, CFP®: https://www.linkedin.com/in/mikemilligancfp/

Visit 1.oak Financial: https://wwwwww.1oakfinancial.com

Also Get the Book “The One of a Kind Financial Plan” on Amazon: https://a.co/d/hAOPAgM

#FinancialTherapy #CouplesAndMoney #FinancialPsychology #IdeasByMike #WealthyMarriage #MoneyScripts #MikeMilligan

 

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1.OAK Financial’s True Meaning: Guiding People to Overcome Fear & Anxiety Around Finances (Ep. 34)

1.OAK Financial’s True Meaning: Guiding People to Overcome Fear & Anxiety Around Finances (Ep. 34)

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In this episode of the Ideas by Mike podcast, host Mike Milligan, CFP shares the journey of his financial planning firm, Ideas by Mike, and its evolution into 1.oak Financial.

He discusses the tumultuous financial landscape over the past few years, the founding principles of his firm, and the importance of client-centered financial planning.

Mike emphasizes the need for a unique approach to financial services that prioritizes clients’ needs and goals, culminating in the introduction of the one-of-a-kind financial plan designed to help clients live their best lives.

Episode Takeaways:

– Ideas by Mike aims to provide unique financial insights.
– The firm was founded on principles of client-centered service.
– Mike’s career journey reflects a commitment to client needs.
– The one-of-a-kind financial plan is central to their approach.
– Financial planning should prioritize individual client goals.
– The evolution to One Oak Financial signifies growth and innovation.
– Client service is prioritized over profit in their business model.
– Understanding clients’ core beliefs about money is crucial.
– The firm aims to reduce fear and anxiety around finances.
– Community impact is a key focus for clients in retirement.

 

Stream all past episode of Ideas by Mike™ Podcast!

Connect with Mike Milligan, CFP®

Do you have any financial inquiries you need answered?
Send us an email – mike@mikemilligancfp.com
Or Call/Text “PODCAST” to (757) 909-7151

Intro and Outro Music: “Podcast Interview Background Music” by Ievgen Poltavskyi (HitsLab) via Pixabay

#ideasbymike #moneymanagementpodcast #wealthbuilding #retirementplanning #financialplanningpodcast #careerjourneypodcast #clientservices #worklifebalance #impactfulcareers #personalizedfinance #retirementwithdrawalstrategies #communityengagement #financialliteracypodcast #podcast #podcastforfinancialliteracy #financialmanagementpodcast #financialplanningguide #financialliteracymatters #financialtips #financialhelp #financialstrategies #socialsecuritytips #federalbenefitsconsultant #cfp #annuity #Safewithdrawalrates #RetirementWithdrawalStrategies

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Tax Strategies For Wealth Building You Probably Didn’t Know (Ep. 31)

Tax Strategies For Wealth Building You Probably Didn’t Know (Ep. 31)

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In this episode, Mike Milligan discusses innovative tax planning strategies that can help individuals and businesses maximize their financial potential. He explores various tax incentives, including the Augusta Rule, advanced strategies like ‘buy, borrow, and die’, and the benefits of Donor Advised Funds and Charitable Trusts.

Additionally, he delves into estate planning tools and the advantages of real estate investments. The conversation culminates in an in-depth look at Puerto Rico’s Act 60, which offers significant tax benefits for residents and businesses. Mike emphasizes the importance of designing a unique financial plan tailored to individual needs and goals.

You’ll discover how to:

  • Design a financial plan that leverages tax incentives—are you missing hidden opportunities?

  • Use the Augusta Rule to generate tax-free rental income—have you considered renting your home to your business?

  • Preserve wealth using the buy, borrow, and die strategy—could borrowing against your assets reduce your taxes?

  • Optimize charitable giving with Donor Advised Funds—are you maximizing your deductions in high-income years?

  • Protect family wealth across generations using dynasty trusts—what steps safeguard your legacy?

  • Offset taxable income through real estate depreciation—are your investments working as hard as you are?

  • Unlock tax-free growth with the mega backdoor Roth IRA—are you fully using your retirement opportunities?

  • Save tens of thousands in taxes through Puerto Rico Act 60—might relocating reshape your financial future?

  • Understand the tax code to create significant savings—how well are you negotiating with the IRS?

  • Build a unique financial plan for long-term success—how customized is your current strategy?

 

Resources: How to Stand Out in a Crowded Market using Vision, AI & Personal Connection | Ideas by Mike (Ep. 30)


Connect with Mike Milligan, CFP®:

Do you have any financial inquiries you need answered?
Send us an email – mike@mikemilligancfp.com
Or Call/Text “PODCAST” to (757) 909-7151

 

#ideasbymike #moneymanagementpodcast #wealthbuilding #retirementplanning #financialplanningpodcast #careerjourneypodcast #clientservices #worklifebalance #impactfulcareers #personalizedfinance #communityengagement #financialliteracypodcast #podcast #podcastforfinancialliteracy #financialmanagementpodcast #financialplanningguide #financialliteracy #financialtips #financialhelp #financialstrategies #socialsecuritytips #federalbenefitsconsultant #cfp

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