Category: Business

Integrated Tax Podcast
Don’t Miss These Money-Saving Tax Changes (EP 65)

Don’t Miss These Money-Saving Tax Changes (EP 65)

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In this conversation, tax expert Jake Johnstun discusses the latest tax legislation, focusing on new deductions available for businesses, the introduction of Trump accounts for children, and changes in clean energy incentives. The discussion also covers SALT deductions, standard and child tax credits, and the implications of officer compensation audits by the IRS. Additionally, Johnstun highlights estate tax exemptions and everyday tax strategies for individuals and businesses, while also addressing trends in client demographics and advanced tax strategies.

Takeaways

  • The new tax laws provide significant deductions for businesses, especially in depreciation.
  • Trump accounts allow for tax-advantaged savings for children under 18.
  • Clean energy incentives are changing, with some benefits expiring soon.
  • SALT deductions have increased, but many will still be affected by limitations.
  • Standard deductions have been adjusted for inflation, benefiting taxpayers.
  • Child tax credits have seen slight increases, aiding families.
  • Small businesses can benefit from the QBI deduction, which is 20% of net income.
  • IRS audits are increasingly focusing on officer compensation and 1099 compliance.
  • Estate tax exemptions have increased significantly, allowing more wealth to be passed on tax-free.
  • Investing in qualified accounts like Roth IRAs can provide long-term tax benefits.

About our Guest: 

Jake Johnstun, EA has been in the tax preparation industry since 1994. An Enrolled Agent is a federally authorized tax practitioner who has technical expertise in the field of taxation and who is empowered by the U.S. Department of the Treasury to represent taxpayers before all administrative levels of examination, collection, and appeals of the Internal Revenue Service. In addition to taxpayer representation, Enrolled Agents often provide tax consultation services and prepare a wide range of federal and state tax returns.

Jake is the president and founder of Integrated Tax, founded in 2002 located in Ogden, Utah. He is a Partner and owner of Elite 1031 Exchange, a Qualified Intermediary. He is an Alumnus of Weber State University with a Bachelor of Science degree in Accounting. He is an NTPI Fellow and a graduate of the SSLA Leadership Academy.

Jake was voted onto the National Association of Enrolled Agent’s Board of Directors in December 2017. He is the current Chair of the NAEA PAC representing tax professionals before the United States Congress. He is also the current Chair of the GOAL Foundation.

Resources & Previous Episodes of Interest:

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The Evolution of SPEEDHORSE Magazine with John Bachelor (EP. 64)

The Evolution of SPEEDHORSE Magazine with John Bachelor (EP. 64)

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In this episode, Billy and Cade sit down with John Bachelor, Jr. and John Bachelor IV, discussing their experiences in the horse racing industry and the evolution of SPEEDHORSE magazine. They explore the challenges and ethical dilemmas faced in the industry, the transition from print to digital media, and the importance of maintaining family values and legacy in business. The conversation also touches on innovations in horse racing and the future of the magazine.

Takeaways

  • John Bachelor III transitioned from ranching to the horse racing magazine industry.
  • SPEEDHORSE Magazine was acquired during a downturn in the cattle market.
  • The decision to shift from a weekly to a monthly publication was pivotal for growth.
  • Memorable experiences at smaller racetracks highlight the community aspect of horse racing.
  • Integrity and safety in horse racing are increasingly prioritized.
  • Navigating conflicts of interest is crucial for maintaining credibility in the industry.
  • The importance of treating staff well contributes to a positive work environment.
  • Statistical data and AI can enhance the magazine’s offerings.
  • Succession planning is vital for the continuity of family businesses.

About Our Guests: 

John A. Bachelor, Jr. and John Allen Bachelor IV

Fifteen years ago, John A. Bachelor, Jr. became the owner and president of SPEEDHORSE magazine, a Quarter Horse racing news publication founded in 1969.The Bachelor Family has been in Quarter Horse racing for generations. John A. Bachelor, Sr. was the breeder and owner of stakes winners in the 1960’s, racing at tracks in Florida. John Bachelor, Jr. earned his Master of Business Administration and Range Animal Science degree from Sul Ross State University in Alpine, Texas. He returned to the Quarter Horse racing industry fifteen years ago after being in cattle ranching for many years. John Allen Bachelor IV grew up spending time at Quarter Horse races and horse sales. He followed the example of his father, John A. Bachelor III, by pursuing his undergraduate degree in Business Administration with a major in Accounting, and then graduated from the University of Oklahoma Law School and passed the Oklahoma Bar Exam. John Allen spent two summers working at SPEEDHORSE in the accounting office, in the editorial department and as a racetrack photographer. He has chosen to join the management team at SPEEDHORSE and work in promoting the Quarter Horse racing industry in print publication and online coverage of Quarter Racing news in real time.

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Introduction to Chronic Pain and Healing
The Mind-Body Healing Journey with Dr. David Schechter (EP. 61)

The Mind-Body Healing Journey with Dr. David Schechter (EP. 61)

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In this conversation, Billy and Dr. Schechter delve into the complexities of chronic pain, emphasizing the mind-body connection and the emotional roots of pain. They discuss the limitations of traditional medicine in addressing chronic pain and highlight the importance of understanding the psychological aspects of pain. Dr. Schechter shares his journey into mind-body medicine, the significance of patient participation in recovery, and the power of belief in healing.  Tune in as David and Billy touch on the challenges within the healthcare system and the need for a shift towards a more holistic approach to treatment.

Key takeaways include:

  • Chronic pain often has emotional roots that are overlooked.
  • Traditional medicine may not address the underlying causes of pain.
  • Education about mind-body connections is crucial for healing.
  • Belief in the healing process can significantly impact outcomes.
  • Patients often feel like victims of their conditions; empowerment is key.
  • The healthcare system needs to adapt to include holistic approaches.
  • Chronic pain can manifest in various forms, not just physical injuries.
  • And more

Connect with Dr. David Schechter: 

Previous Episodes of Interest:

Connect with Billy Peterson:

About Our Guest:

David Schechter, MD, Family/Sports Medicine Physician

Dr. David Schechter is a physician who practices in West Los Angeles, California. With over 35 years of experience as a family and sports medicine physician, Dr. Schechter specializes in mind-body medicine and chronic pain.

Dr. Schechter attended Princeton University, received his MD from New York University, residency through UCLA/Santa Monica, and is an attending physician at Cedars-Sinai Medical Center.

He has been named a Top Doctor by Los Angeles Magazine, Men’s Health Magazine, and by US News and World Report.  He has written several books, including Think Away Your Pain , The MindBody Workbook, The MindBody Workbook for Teens, and The Lessons Doctor Sarno Taught Me.  

He has co-created an online program called The MindBody Healing Journey and co-authored The MindBody Workbook, Volume Two and A Diagnostic Guide for Psychophysiologic Disorders.  Recently, he created an online course, Mastering the Mind-Body Connection for Teenagers.

 

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James Dexter Creator of Stable Pro
Harnessing Technology in the Horse Industry with James Dexter (EP. 59)

Harnessing Technology in the Horse Industry with James Dexter (EP. 59)

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In this episode, Billy and Shaun interview James Dexter, the founder and CEO of Stable Pro, a software solution designed to help horse trainers manage their businesses more efficiently. James shares his journey of identifying a problem in the horse industry related to invoicing and scheduling, leading to the creation of Stable Pro. The conversation covers marketing strategies, features of the software, client interaction, and future goals for expanding the platform to better serve the horse community.

Highlights Include: 

  • Stable Pro addresses the paperwork challenges faced by horse trainers.
  • James Dexter’s journey began with a passion for the horse industry.
  • The importance of getting started and learning through experience.
  • Stable Pro offers features for managing horses’ health and wellness.
  • Future goals include connecting with breeder registries and expanding services.
  • James emphasizes the passion and dedication behind building Stable Pro.

Previous Episodes of Interest:

About our Guest:

James Dexter, a lifelong Nevadan, has been immersed in the horse industry from an early age, continuing a family legacy of equine breeding and ranching that spans generations. As the owner of Fifty Horse Ranch and Chief Pharmacist at the Fallon Paiute & Shoshone Health Clinic, he balances his passion for horses with his expertise in healthcare. Through his close work with horse trainers, James recognized a critical need for modern business solutions tailored to the equine industry, leading him to create STABLE pro. Founded in 2023 and headquartered in Fallon, Nevada, STABLE pro is an all-in-one business management platform designed specifically for equine professionals. The platform streamlines operations by offering automated billing, horse care tracking, scheduling, team management, trip planning with expense tracking, insurance integration, and secure file storage. By prioritizing trainer-driven innovation, STABLE pro delivers tailored solutions designed for efficiency and success, enriching the equine community.

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Joe Merrick
Once Upon The Mountain: Joe Merrick (Ep. 57)

Once Upon The Mountain: Joe Merrick (Ep. 57)

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In this engaging conversation, Billy and Cade interview Joe Merrick, author of ‘Once Upon the Mountain,’ exploring his life growing up around horses, particularly the legendary Easy Jet. Joe shares heartfelt stories about his childhood experiences, the challenges and triumphs of horse racing, and the lessons learned from his father and the racetrack. The discussion also touches on the current state of the racing industry and the importance of preserving its integrity.

Takeaways

  • Joe Merrick’s book captures the essence of horse racing.
  • Growing up around Easy Jet shaped Joe’s life and career.
  • Joe’s father instilled a strong work ethic in him.
  • Easy Jet’s racing career was unprecedented in its success.
  • The transition from racing to breeding was significant for Easy Jet.
  • Integrity in horse racing is a pressing concern today.
  • Joe’s experiences highlight the bond between humans and horses.

 

About our Guest:

As the son of AQHA Hall of Fame member Walter Merrick, Joe Merrick was a 12-year old during the legendary run of his fathers trainee in 1969, and has written a book that gives the account of those events in 1969 from the perspective of the pre-teenage adolescent.

The AQHA Hall of Fame runner and sire Easy Jet rattled out an epic two-year old campaign in 1969 that saw the son of Jet Deck score 22-victories from a lofty 26-starts as a two year-old.  During that run in 1969,  Easy Jet qualified, and claimed victories in the Blue Ribbon Futurity, Columbus Triple Crown Futurity, Lubbock Downs, Futurity, Laddie Stakes at Centennial Park, Rocky Mountain QHA Futurity, All American Congress Futurity,  Sunland Park Fall Futurity, Kansas Futurity, and the All American Futurity at Ruidoso Downs.

 

Link to buy the book below!

Connect with Joe Merrick

About our Guest:

As the son of AQHA Hall of Fame member Walter Merrick, Joe Merrick was a 12-year old during the legendary run of his fathers trainee in 1969, and has written a book that gives the account of those events in 1969 from the perspective of the pre-teenage adolescent.

The AQHA Hall of Fame runner and sire Easy Jet rattled out an epic two-year old campaign in 1969 that saw the son of Jet Deck score 22-victories from a lofty 26-starts as a two year-old.  During that run in 1969,  Easy Jet qualified, and claimed victories in the Blue Ribbon Futurity, Columbus Triple Crown Futurity, Lubbock Downs, Futurity, Laddie Stakes at Centennial Park, Rocky Mountain QHA Futurity, All American Congress Futurity,  Sunland Park Fall Futurity, Kansas Futurity, and the All American Futurity at Ruidoso Downs.

 

Link to Similar Episodes:

Cody Jensen’s Winning Formula in Horse Racing (Ep. 39)

From Jockey to Media Star: Zoe Cadman’s Journey (EP. 52)

Connect with Billy Peterson:

Connect with Cade Peterson:

Connect with Shaun Peterson:

 

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NYRA Horse Racing Andrew Offerman
The Thrill of the Race: Insights from Andrew Offerman (Ep. 56)

The Thrill of the Race: Insights from Andrew Offerman (Ep. 56)

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Billy Peterson and Cade Peterson discuss the current state of horse racing with Andrew Offerman, Senior Vice President of Racing at the New York Racing Association. They discuss the excitement surrounding major races like the Belmont Stakes, the challenges of hosting events at alternate venues, and the importance of engaging younger audiences through influencers and educational initiatives. The discussion also touches on the emotional highs and lows of racing, the economic impact of the industry, and the need for transparency and integrity in the sport. Andrew shares insights on how to get involved in horse racing, whether as a fan or an owner, and the efforts being made to simplify betting for newcomers.

Takeaways

  • The Belmont Stakes is a significant event with a unique history.
  • Hosting major races at alternate venues presents challenges.
  • Horse racing is experiencing a resurgence in popularity.
  • Influencers can attract a new audience to the sport.
  • Every race win is a special experience for participants.
  • Youth engagement is crucial for the future of racing.
  • The economic impact of horse racing is substantial.
  • Transparency and integrity in racing are essential.
  • There are various pathways to get involved in horse racing.

About our Guest:

Andrew Offerman | SVP, Racing and Operations

As Senior Vice President of Racing and Operations, Andrew Offerman is responsible for the leadership and oversight of racing functions at NYRA including the development, planning, and execution of NYRA’s stakes program, marquee events and live racing offerings at Aqueduct Racetrack, Saratoga Race Course and, when complete, the new Belmont Park. Additionally, he oversees several of NYRA’s general frontside operating departments including mutuels, parking, programs, security and cleaning.Prior to NYRA, Offerman served as Senior Vice President of Racing Operations at Canterbury Park in Shakopee, Minnesota. In this role, he was responsible for the direct oversight of Canterbury’s racing office, wagering, track maintenance, security and other operational departments supporting live and simulcast racing operations. Offerman holds an advisory and governance position with the University of Arizona Race Track Industry Program (RTIP) Advisory Committee and previously served in similar capacities with the Thoroughbred Racing Associations of North America (TRA); American Quarter Horse Association (AQHA) Racing Committee, and the Thoroughbred & Quarter Horse Breeders’ Fund Advisory Committees of the Minnesota Racing Commission. A native of Minneapolis, Offerman earned an M.S. degree from the University of Arizona Race Track Industry Program (RTIP) and holds a B.A. from Gustavus Adolphus College.

 

Previous Episodes of Interest:

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Overcoming Adversity: Gwyn’s Inspiring Story (Ep. 55)

Overcoming Adversity: Gwyn’s Inspiring Story (Ep. 55)

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In this episode of Harnessing Your Wealth, host Billy Peterson interviews Gwyn McNeal, the Chief Legal Officer of Extra Space Storage. Gwyn shares her journey from growing up in a large family in Utah to becoming a successful lawyer and executive. She discusses the challenges she faced in law school, her experiences as an amputee, and her career growth at Extra Space Storage. The conversation delves into the unique legal challenges in the self-storage industry, including litigation and creative uses of storage units. Gwyn also provides insights into the future of the storage business and the importance of adapting to market changes.

Takeaways include:

  • Extra Space Storage is focused on growth and market adaptation.
  • She attended BYU for undergraduate and USC for law school.
  • She transitioned to a full-time role at Extra Space in 2005.
  • Gwyn’s role includes overseeing legal operations and HR.
  • She emphasizes the importance of education instilled by her parents.
  • Gwyn has run multiple marathons and is an avid athlete.
  • Gwyn shares interesting stories from storage facilities.

About our Guest:

Gwyn Goodson McNeal is the Executive Vice President and Chief Legal Officer at Extra Space Storage, Inc., America’s largest self-storage company. During her 20 years at Extra Space, she has acted as a trusted business partner working with all members of the executive team during the transformation of the company from a small-cap, newly public company to a multi-billion-dollar company and member of the S&P 500.  Ms. McNeal oversaw 100+ employees across such diverse teams as legal, HR, learning and development and events/travel. Ms. McNeal serves on the board of Eastern Airlines, a private air travel and cargo service company based out of Kansas City. Ms. McNeal chairs the Nominating and Governance Committee at Eastern Airlines.

About Extra Space Storage:

Extra Space Storage is the largest operator of self storage facilities and the largest third-party self storage management company. Since we were founded in 1977, we have grown to include more than 4,000 locations across the country from our headquarters in Salt Lake City, UT.

Previous Episodes of Interest:

Connect with Extra Space Storage

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Billy Peterson Harnessing Your Wealth
Chapter 10: A Time to Sell – Is this one of those times? (EP 53)

Chapter 10: A Time to Sell – Is this one of those times? (EP 53)

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In this episode, Billy takes the hot seat as his son Cade interviews him about key concepts from his book, focusing on market volatility, goal funding in retirement, emotional investing, tax strategies, and performance-based selling. The conversation emphasizes the importance of understanding market dynamics and making informed decisions rather than reacting emotionally to market fluctuations. In this conversation, the speakers discuss the implications of wealth loss, government accountability, and the importance of long-term investing strategies. They emphasize the need for taxpayers to be aware of government actions and the impact of economic decisions on personal finances. The discussion also highlights Warren Buffett’s investment strategies and the significance of patience in investing, particularly during market downturns.

Takeaways

  • Market volatility can create both opportunities and challenges for investors.
  • Rebalancing is essential to maintain your original investment allocation.
  • Goal funding is crucial for retirement planning and should be approached strategically.
  • Capitulation often leads to poor investment decisions driven by fear and greed.

Previous Episodes of Interest:

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Zoe Cadman Former Jockey and Current TV Analyst
From Jockey to Media Star: Zoe Cadman’s Journey (Ep. 52)

From Jockey to Media Star: Zoe Cadman’s Journey (Ep. 52)

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Billy Peterson, Cade Peterson and Zoe Cadman discuss Zoe’s Journey into broadcasting and the role of media in horse racing. Check out this episode as they discuss the art of selecting racehorses, the value of underdogs, and the emerging talent among jockeys. The discussion also touches on the challenges facing horse racing today and the journey of retired racehorses, highlighting personal connections and experiences in the equestrian world.

They discuss:

  • Zoe Cadman transition from a jockey to a media role.
  • Engaging events are crucial to attract younger fans to racing.
  • Safety measures in racing have improved with HISA.
  • And more

About Zoe Cadman

Zoe Cadman is host and analyst for XBTV, Santa Anita Park and 1/ST Racing. Born in South Africa and raised in England, Zoe came to America and worked for trainers Michael Dickinson, Christopher Speckert and Mike Stidham prior to taking out her jockey’s license in 2000. She became the first female rider in Chicago history to win a meet riding title when she won the spring 2001 Hawthorne title. In 2008, Zoe relocated to Santa Anita to work with HRTV until 2015, when she began her current broadcast role with XBTV, Santa Anita Park and 1/ST Racing.

Previous Episodes of Interest:

Resources & Previous Episodes of Interest:

Santa Anita Park 

Connect with Zoe Cadman
• Instagram: ZoeCadman_
• 1/ST Things 1/ST, Presented by Santa Anita

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Grit, Resilience and Unity that Define a Utah Mountain Town with Mayor Ben Nadolski (EP 51)

Grit, Resilience and Unity that Define a Utah Mountain Town with Mayor Ben Nadolski (EP 51)

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In this episode, Billy Petersen interviews Ben Nadolski, the Mayor of Ogden, Utah. They discuss Ben’s unique journey from a career in wildlife management to politics, the challenges of public scrutiny, and the importance of mental toughness and resilience in leadership. Ben shares insights on the human side of leadership, the significance of hard work, and the impact of surrounding oneself with the right people. The conversation also touches on Ben’s day-to-day responsibilities as mayor and the current projects he is focused on. In this conversation, they discusses the importance of collaboration in leadership, emphasizing the need for all departments to work together to achieve common goals. The mayor talks about the ‘Ogden Way,’ which focuses on community accountability and the role of government in supporting citizens without overstepping.

Billy, Shaun and Ben discuss

  • Ben Nadolski transitioned from wildlife management to becoming the Mayor of Ogden.
  • Ben emphasizes the value of critical thinking over party lines.
  • Surrounding yourself with supportive people is crucial for success.
  • Local politics focus on community impact rather than national issues.
  • Energy and mindset significantly affect leadership effectiveness.
  • And more

About Our Guest: 

Mayor Nadolski took office on January 2, 2024, bringing with him a breadth and depth of experience to the office, including two terms on the Ogden City Council, and a 23-year career with the Utah Division of Wildlife Resources (DWR). Nadolski was instrumental in the inception and implementation of the Ogden River Restoration Project; a $6-million project in Ogden, Utah, that transformed a blighted and polluted river into a Blue Ribbon Fishery that paved the way for a surge in recreational use and community and economic development for Ogden City.

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