Equity compensation is becoming an increasingly popular way for employers to reward and retain their top talent. But as enticing as this benefit sounds, it’s one of the most complicated and misunderstood forms of compensation—often triggering a tax bill employees aren’t prepared to cover.
In this episode, host Jason and special guest Mike Holloway, CFP® explain the differences between incentive stock options and non-qualified stock options, and the tax implications of each. Because only when you understand how to make the most of your equity compensation can you truly ‘Own Your Wealth.’
Listen now to learn:
How each equity compensation type differs
The tax implications of each form of equity compensation
Why an 83B election is often one of the best ways to enjoy significant future tax savings
When to meet with a financial advisor, so you have ample time to weigh your options
If you’ve been ‘ghosted’ by your CPA, you’re not alone. The accounting industry is undergoing significant changes. Big tech is snapping up CPAs left and right, early retirement is becoming the new norm, and for the CPAs that are left, uninviting work environments and gruelling hours at traditional firms make it hard for these professionals to meet every client’s needs—or return your calls.
In this episode of Own Your Wealth, host Jason reveals the real reasons why a traditional CPA may not be your best choice for proactive, comprehensive tax planning support, especially if you have a high income or complex tax needs.
Listen now to learn:
Why traditional CPAs prioritize compliance over careful planning
Practical advice for individuals and businesses looking for a new CPA
The best time of year to start your CPA search
How Cook Wealth’s CPAs approach tax planning and optimization
When it comes to managing your money, the smallest decisions can have the biggest impact on your long-term financial health. Small choices, like reaching for your debit card first, making a monthly spending plan, and defining exactly what ‘enough’ means to your family can add up to quite a bit of added savings—without significantly impacting your lifestyle.
In the last episode of our 5-part Uses of Money series, Jason talks about the intentional spending choices each of us can make to enjoy what we have now while securing a comfortable future. From smart spending plans to using credit cards responsibly, Jason explains how the right plan and tools can help your family live life empowered.
Listen now to learn:
The power of micro-money choices
Why spending is one of your most crucial lifestyle tools
What ‘enough’ looks like as your income increases
How budget tracking apps can help your family use credit cards to your advantage
The first step towards growing your wealth is a fairly straightforward one: Establish an adequate emergency fund. But it’s the steps to follow that can make managing and increasing your wealth complicated. Intentionally building your wealth requires careful financial planning and smart tax strategies—skills that may not come naturally to everyday savers.
From putting all your savings in one risky basket, to keeping too much cash on hand, in this episode, Jason reveals a few surprising truths about maximizing the growth potential in every dollar.
Listen now to learn:
Why your emergency fund may not look like your neighbor’s
How excess cash can limit your wealth growth
3 tax-smart options to build your savings
The role your financial advisor plays in optimizing your portfolio
Ever wondered how to make a real impact with your money? It’s not just about saving or spending but also about giving back to your community in a meaningful way.
When you hear the word “generosity,” what comes to mind? Most people equate generosity with financial giving. But in practice, the true essence of generosity goes far beyond money—encompassing your time, talent, and treasures.
In this episode, host Jason and special guest Richard Newton, the Regional Director of the National Christian Foundation’s Carolinas office, take a closer look at what it means to “do good with what we have.” From simple first steps any new giver can take, to advanced strategies for generous business owners and high-income individuals, this conversation underscores the transformational power of generous living.
Listen now for:
Smart ways to systematize your giving with a donor-advised fund
How to increase the intentionality and impact of large gifts
Why non-cash assets can be just as valuable as cash donations
Every person has the opportunity to put their wealth towards 5 key things: Living, growing, giving, owing, and taxes. You can think of these 5 uses as forming your own ‘money pie’—one you can slice any way you like, as you allocate more or less funds to each area.
The first step towards making your finances work for you is being intentional about how you slice the pie, and which financial habits you prioritize. Because how you spend your money, in many ways, is how you spend your life.
In this episode, Jason covers:
The role each money function plays in your financial plan
How to re-slice your ‘money pie’
The one slice many people struggle to control
Managing good, bad, and ‘okay’ debt
Why charitable giving is different from generosity
“Rich, to me, is money. But wealth? That’s freedom and time.” – Marcey Rader, founder and president of RaderCo, business productivity consultants.
In this episode, host Jason Deshayes and special guest Marcey Rader discuss how the key to mastering work-life balance isn’t taking more vacations or shifting to a 4-day work week. It’s learning how to limit the influence of technology that never stops buzzing. By developing your health-powered productivity habits and proactively addressing your work-related stress, you can build a balanced, fulfilling professional life—and a deeply rewarding retirement.
In this episode, Jason and Marcey cover:
The real meaning of work-life balance—and why tech-life balance is a better perspective
How microstressors at work damage your health and build up to burnout
The habits you need to set now to enjoy a purposeful retirement
What business owners can do to boost productivity without overwhelming employees
Whether you’re starting, selling, or transitioning a dental practice, expert guidance can prove invaluable throughout every stage of the complex process. Because when you’re making a six-figure (or more!) decision, you can’t afford to solely rely on “gut instinct” and Google!
In this candid conversation, Jason speaks with Robert, founder of Robert H. Montgomery, III, Esquire, P.C., a leading boutique law firm that focuses on counseling dentists through complicated transitions. Listen in as Jason and Robert talk cash flow, credit, dental practice purchases, and when to leave real estate out of the deal.
In this episode, Robert shares:
Critical red flags to avoid in the practice purchasing process
What you need to know about selling your practice to a corporate dental group
What even the best contracts CAN’T protect you from
How real estate impacts the value of your dental practice purchase or sale
Robert is the founder of Robert H. Montgomery, III, Esquire, P.C., a leading boutique law firm that counsels dentists and veterinarians on a full range of business and legal matters that impact their practice. Robert founded the firm in 1997 and has been serving the needs of healthcare clients for over 20 years. To date, Rober has worked on hundreds of dental and veterinary deals, including practice start-ups, equity buy-ins, and complex practice acquisitions.
From his firm’s Philadelphia office, Robert meets the legal and business needs of his healthcare clients. Today, he guides clients through practice acquisitions and sales, practice start-ups and lease negotiations, buy-ins, partnership agreements, employment matters, forming and structuring dental service organizations, operational issues, financing, real estate sales and acquisitions, and general corporate and business matters.
In addition to working directly with healthcare clients, Robert regularly lectures to audiences across the country and is a frequent speaker for Ideal Practices, a highly regarded national dental practice start-up consulting firm. He’s also the co-founder and co-host of “The Dental Amigos Podcast,” and the founder and host of “The Veterinary Start-up Podcast.”
Calling all small business owners! Don’t miss out on this episode that will equip you with the bookkeeping tools and knowledge to elevate your small business to new heights.
In this episode, Jason speaks with Carleen Lamay, CEO of C2 Accounting and Business Support. Together they dive into strategies business owners can use as Carleen shares invaluable insights on the importance of scalability, communication, and the power of collaboration between bookkeepers, accountants, and tax planners. Jason and Carleen also unpack the benefits of outsourcing bookkeeping services, such as freeing up time and mental space for business owners to focus on strategic thinking and leadership.
Carleen discusses:
The key to successful bookkeeping for business owners
The importance of educating small business owners about bookkeeping and accounting
Carleen advises clients to put scalable processes in place from the beginning.
Switching career directions isn’t easy, especially when the transition requires a monumental leap of faith. A leap Elizabeth Hanes, a long-time Cook Wealth client, can speak to from personal experience.
In this can’t-miss episode, Elizabeth shares her refreshingly candid story of leaving her comfort career zone to follow the call of entrepreneurship. From successful nurse, to writer, to coach for other writers, Elizabeth’s journey to finding fulfillment and living with impact is one sure to inspire.
In this episode, Elizabeth shares:
How Cook Wealth allows her to enjoy the fruits of her labor with minimal stress
How she encourages other nurses through her writing program
How passion and practicality united to create her dream lifestyle
And more
Elizabeth Hanes is a current client of Cook Wealth and was not compensated for her participation.
