The Financial Beast Podcast for Practice Owners

Econologics Financial Advisors

The Financial Beast Podcast for Practice owners is designed for practice owners to get vital info on financial matters that concern them both personally and professionally. Additional to help them get into ”Financial Beast” mode and stay there so they can achieve all of their financial goals. A financial beast is debt free, protected, invested and set for life! read less

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Corporate Transparency Act: What You MUST Know Now! with Host, Eric Miller & Guest, Patrick O'Connor

Corporate Transparency Act: What You MUST Know Now! with Host, Eric Miller & Guest, Patrick O'Connor

ATTENTION BUSINESS OWNERS! The Corporate Transparency Act is now in effect and it's critical that you understand its implications to avoid hefty penalties and even possible imprisonment. In this episode of the Financial Beast Podcast, your host Eric Miller and expert attorney Patrick O'Connor delve deep into everything you MUST know about this new regulation. From the intricate details of the Beneficial Ownership Information (BOI) form to who’s exempt and who’s not, this conversation is an essential guide for every practice owner and small business. The Corporate Transparency Act aims to combat terrorism and money laundering, but its complexities could have severe unintended consequences for smaller enterprises not adequately prepared. Don't let your business be caught off-guard. We break down the filing requirements, timelines, and potential penalties (up to $10,000 per day!) to ensure you are fully informed and can take the necessary steps to comply. This law might seem overwhelming, but with the right knowledge and preparation, you can navigate it successfully and keep your business thriving. Remember, knowledge is power! Being informed helps you take back CONTROL, maximize the value of your business, and secure your financial freedom. Don't just listen—make sure to share this podcast with any business owner you know. They'll thank you later! Hit subscribe for more critical updates and expert financial insights. Stay informed, stay safe, and let’s thrive together as Financial Beasts in the business world! #CorporateTransparencyRegulations #FinancialAdvisorsAssistance #BusinessReportingCompliance #CorporateComplianceRequirements #TaxReportingRequirements

Episodes

Corporate Transparency Act: What You MUST Know Now! with Host, Eric Miller & Guest, Patrick O'Connor

Corporate Transparency Act: What You MUST Know Now! with Host, Eric Miller & Guest, Patrick O'Connor

ATTENTION BUSINESS OWNERS! The Corporate Transparency Act is now in effect and it's critical that you understand its implications to avoid hefty penalties and even possible imprisonment. In this episode of the Financial Beast Podcast, your host Eric Miller and expert attorney Patrick O'Connor delve deep into everything you MUST know about this new regulation. From the intricate details of the Beneficial Ownership Information (BOI) form to who’s exempt and who’s not, this conversation is an essential guide for every practice owner and small business. The Corporate Transparency Act aims to combat terrorism and money laundering, but its complexities could have severe unintended consequences for smaller enterprises not adequately prepared. Don't let your business be caught off-guard. We break down the filing requirements, timelines, and potential penalties (up to $10,000 per day!) to ensure you are fully informed and can take the necessary steps to comply. This law might seem overwhelming, but with the right knowledge and preparation, you can navigate it successfully and keep your business thriving. Remember, knowledge is power! Being informed helps you take back CONTROL, maximize the value of your business, and secure your financial freedom. Don't just listen—make sure to share this podcast with any business owner you know. They'll thank you later! Hit subscribe for more critical updates and expert financial insights. Stay informed, stay safe, and let’s thrive together as Financial Beasts in the business world! #CorporateTransparencyRegulations #FinancialAdvisorsAssistance #BusinessReportingCompliance #CorporateComplianceRequirements #TaxReportingRequirements

Maximize Deductions: How to Avoid the April 15th Surprise! with Host, Eric Miller & Guest, Eric Gersch

Maximize Deductions: How to Avoid the April 15th Surprise! with Host, Eric Miller & Guest, Eric Gersch

Maximize deductions like the home office and discover more crucial tax tips with Eric Miller and Gersch on the Financial Beast Podcast! In this episode, they dive deep into the essentials of tax planning for business owners, discussing how to avoid the dreaded "April 15th surprise" and effectively manage your tax liabilities. Whether you own an S-Corp, LLC, or sole proprietorship, understanding the flow of business profits to personal tax returns is crucial. Learn how to take back CONTROL of your finances by setting up separate accounts for tax savings, and explore strategies to maximize the value of every dollar with deductions that build personal wealth. From leveraging your home office to making smart use of tax codes, Eric and Gersch guide you through the basics to more advanced tactics that can lead to substantial savings. Expand your business knowledge by understanding how to incorporate financial planning into your daily decisions. Achieve financial freedom by becoming a Financial Beast! Connect with us on our social media platforms to continue your journey and get personalized tips from financial experts. #IrsPaymentOptionsGuidance #WealthBuildingStrategies #TaxAccountManagement #TaxSeasonPreparation #FinancialDisciplineTips

Increase Profits NOW to Secure Your Dream Retirement! with Host, Eric Miller & Guest, Eric Gersch

Increase Profits NOW to Secure Your Dream Retirement! with Host, Eric Miller & Guest, Eric Gersch

Increase Profits NOW to Secure Your Dream Retirement! Ready to increase profits and secure your dream retirement? Dive into this must-watch episode of the Financial Beast Podcast where our hosts, Eric Miller and Eric Gersch, revolutionize retirement planning for practice owners like you. Forget the outdated advice of aiming for 60-80% of your pre-retirement income. It's time to take back CONTROL and aim for 100% by boosting your business's profit margins NOW! In this enlightening discussion, discover the innovative concept of Desired Monthly Minimum Income (DIMI) and learn how to calculate the total assets needed to live comfortably in retirement without sacrificing your current lifestyle. Whether it's tackling the impact of taxes or optimizing investment returns, this episode is packed with actionable strategies to help you build personal wealth and achieve financial freedom. #FinancialLiteracy #PreretirementIncome #RetireeIncomeNeeds #FinancialSuccessStrategies #FinancialPodcast

Master Employee Terminations: Protect Your Practice Legally with Host, Eric Miller & Guest, Devora Lindeman

Master Employee Terminations: Protect Your Practice Legally with Host, Eric Miller & Guest, Devora Lindeman

Master the art of employee terminations and safeguard your practice from legal pitfalls with expert insights from Devora L. Lindeman, a seasoned employment attorney. In this enlightening episode of the Financial Beast podcast, host Eric Miller delves deep into the crucial aspects of HR and employment law that every practice owner must know to protect their business effectively. Discover why setting clear job expectations and having robust performance management systems are not just good practices but essential shields against costly lawsuits. Learn the critical steps to handle terminations the right way, ensuring that when the tough decision to let an employee go comes, it's executed with precision to prevent legal backlash. This is more than just a conversation; it's a roadmap to fostering a compliant, efficient, and lawsuit-free workplace. Whether you're grappling with performance issues, considering termination, or simply aiming to tighten your HR practices, the insights from this discussion are invaluable. Don't leave the stability of your practice to chance. Equip yourself with the knowledge and tools to manage your team effectively and legally. Tune in now and transform the way you handle HR challenges in your practice. #EPLI #Documentation #HumanResources #PerformanceReviews #JobDescriptions

Strategies to Shield Your Savings from Long-Term Care Expenses with Host Eric Miller & Guest, Eric Gersch

Strategies to Shield Your Savings from Long-Term Care Expenses with Host Eric Miller & Guest, Eric Gersch

Are you worried about the financial burden of long-term care expenses depleting your hard-earned savings? Dive into this comprehensive guide on "Strategies to Shield Your Savings from Long-Term Care Expenses," where financial experts discuss actionable steps to protect and preserve your wealth against unforeseen healthcare costs. Grasp the essentials of long-term care, understand the full spectrum of care options, and learn how to strategically plan for future needs without compromising your financial stability. In this episode, financial gurus from the Financial Beast Podcast for Practice Owners break down the complexities of long-term care—highlighting practical tips and insights to fortify your financial defense. From defining long-term care to exploring cost implications and insurance solutions, this video is your one-stop resource for becoming financially astute about securing your future. Whether you're in your prime earning years or witnessing the care challenges faced by elderly relatives, now is the time to act to safeguard your assets. Learn about the different types of long-term care policies, the ideal times to secure one, and the investment strategies that can keep you protected as healthcare needs evolve.

4% Rule: Too Safe or Risky for Retirement? with Host, Eric Miller & Guest, Eric Gersch

4% Rule: Too Safe or Risky for Retirement? with Host, Eric Miller & Guest, Eric Gersch

4% Rule: Too Safe or Risky for Retirement? Dive deep into the heart of retirement planning with "4% Rule: Too Safe or Risky for Retirement? In this episode Eric Miller and Eric Gersch, seasoned financial advisors, tackle the age-old debate surrounding the 4% withdrawal rate, offering you insights to empower your retirement strategy. Is the 4% rule a beacon of safety or a path to financial constraint? Discover the answer as we explore the importance of diversification, multiple income streams, and personal financial goals to ensure a retirement filled with financial freedom and peace of mind.

Maximizing Deductions: Overlooked Strategies for Practice Owners with Host, Eric Miller & Guest, Mark Martukovich

Maximizing Deductions: Overlooked Strategies for Practice Owners with Host, Eric Miller & Guest, Mark Martukovich

Are you tired of watching your hard-earned money disappear come tax season? It's time to challenge the status quo and become a Financial Beast, expanding your business and building personal wealth like never before. Dive deep into the world of strategic tax planning with Eric Miller and tax specialist Mark Martukovich, as they unveil the untapped tax strategies that could save practice owners thousands. This isn't your average financial advice. We're here to disrupt the system, revealing the truth about maximizing deductions and securing your financial freedom. Are you ready to defy expectations and master the art of wealth building? The path to financial liberation begins here. Don't just survive the system; manipulate it to your advantage and thrive beyond your wildest dreams. Become part of the movement. Join us now.

The Hidden Checklist Secret to Skyrocket Your Practice with Host, Eric Miller & Guest, Neil Trickett

The Hidden Checklist Secret to Skyrocket Your Practice with Host, Eric Miller & Guest, Neil Trickett

Unlock the secrets that elite practice owners know and take back CONTROL of your financial future! Eric Miller and Neil Trickett unveil the hidden checklist secret that could skyrocket your practice to new heights. If you've ever felt overwhelmed by the unpredictable waves of the financial world, especially amidst recessions, it's time to arm yourself with knowledge that empowers you to not just survive but THRIVE. Discover how to maximize the value of your practice, build personal wealth, and secure financial freedom. This isn't just about making more money; it's about transforming your approach to your practice and your finances. Learn from marketing genius, Neil Trickett of Practice Promotions, who shares unparalleled insights into expanding your business and becoming a Financial Beast. Join us, and let's defy the odds together. Start transforming your financial life today.

Unlock the Secret to Financial Freedom with Host, Eric Miller & Guest, Eric Gersch

Unlock the Secret to Financial Freedom with Host, Eric Miller & Guest, Eric Gersch

Unlock the SECRET to financial freedom with this episode. Dive deep with host Eric Miller and special guest Eric Gersch as they shatter the conventional financial model, empowering practice owners like YOU to take back CONTROL of your financial destiny. Discover how to maximize the value of your practice, build personal wealth, and navigate the treacherous waters of the financial industry with confidence. In an industry dominated by outdated advice and a one-size-fits-all approach, two Eric's challenge the status quo, revealing the pitfalls that could be draining your wealth and the strategies to turn your business into a powerhouse of financial growth. Learn how to become a Financial Beast by expanding your business, leveraging your investments, and securing your future in ways traditional financial advisors won't tell you. Ready to challenge the financial norms and pave your own path to prosperity? Don't let traditional financial models hold you back. Become a part of the movement that's redefining financial success for practice owners across the nation.

The REAL Cost of Ignoring Real Estate in Healthcare with host, Eric Miller & Guest, Kris Benson

The REAL Cost of Ignoring Real Estate in Healthcare with host, Eric Miller & Guest, Kris Benson

Unlock the secrets to financial mastery with "The REAL Cost of Ignoring Real Estate in Healthcare"! Dive into the world of real estate investments and discover how they can be the game-changer for your healthcare business. This video isn't just another talk. It's a wake-up call to all healthcare practice owners who've been overlooking the monumental potential real estate holds in expanding your business and securing your financial future. Whether it's about choosing the right property, navigating the murky waters of interest rates, or leveraging tax benefits, we've got you covered. Remember, financial freedom isn't just a dream—it's within your grasp. But, it requires action, education, and the right strategies. Let us guide you on how to safeguard your investments and capitalize on real estate opportunities. Don't wait for a financial crisis to realize the power of real estate in healthcare. Become an informed investor and a savvy practice owner. Connect with us on our social media platforms to stay ahead of the curve. Take the first step towards securing your financial legacy. It's time to challenge the status quo, make informed decisions, and transform your practice into a wealth-building powerhouse. Are you ready to join the ranks of healthcare professionals who refuse to ignore the real cost of sidelining real estate in their financial strategy? Let's get started.

State of Physical Therapy Sales: How to Build a Valuable PT Practice with Host, Eric Miller & Guest, Steve Stalzer

State of Physical Therapy Sales: How to Build a Valuable PT Practice with Host, Eric Miller & Guest, Steve Stalzer

Maximize Your Exit: Unlock the secrets to expanding your business and building personal wealth with confidence. If you're a practice owner eager to take back CONTROL over your financial destiny, this video is your first step towards financial freedom. Join Eric Miller and Steve Stalzer from 8150 Advisers as they delve deep into the crucial strategies for maximizing the value of your practice. Whether you're contemplating an exit strategy, aiming to bolster your practice's valuation, or just seeking to become a Financial Beast, this expert discussion offers indispensable insights. Connect with us on social media to continue the conversation and discover more wealth-building strategies tailored for practice owners like you. Please note, while we strive to provide valuable financial insights, Econologics Institute, LLC, affiliated with Econologics Financial Advisors, offers general advice. For advice tailored to your specific situation, consult your own professionals. Remember, Econologics does not provide individualized financial, legal, or tax advice. Dive into the world of financial training and take the first step towards securing your legacy and maximizing practice value today. Your journey to financial freedom and becoming an empowered practice owner starts here.

State of Veterinary Practice Sales & How to Exit on Top hosted by Eric Miller with Guest, Roger Redman

State of Veterinary Practice Sales & How to Exit on Top hosted by Eric Miller with Guest, Roger Redman

Maximize Your Practice's Value with Expert Insights tailored for vets! Dive into our latest video, where financial wizard Eric Miller and the unparalleled Roger Redman from the Ackerman Group unravel the secrets to taking back CONTROL of your veterinary practice. Learn how to leverage your business, build personal wealth, and ensure you're playing at the top of your game. Connect with us on social media for daily tips on wealth building and expanding your business. Our expert-led courses and personalized consultations are designed to empower practice owners like you to become Financial Beasts, even in the face of recession. Powered by the Econologics Institute, LLC, and in affiliation with Econologics Financial Advisors, we bring you reliable, actionable strategies that make a difference. Remember, while our advice is rooted in deep industry knowledge, it's essential to consult your own professionals for personalized guidance. Econologics does not offer individualized financial, legal, or tax advice. Our goal is to equip you with the knowledge and confidence to make informed decisions for your practice's future. Join our community of savvy vets who refuse to let economic downturns dictate their success. Subscribe now and take the first step towards unparalleled financial success.

Expert Advice on Safeguarding Your Wealth with Host, Eric Miller & Guests: Brad Fincher & Halsey Schreier

Expert Advice on Safeguarding Your Wealth with Host, Eric Miller & Guests: Brad Fincher & Halsey Schreier

Are you planning to sell your business? In this episode of the Financial Beast podcast, host Eric Miller is joined by Brad Fincher and Halsey Schreier from CIBC Private Wealth to discuss the importance of planning for your financial future after selling your business. They highlight common mistakes made by business owners when they come into a large sum of money and provide valuable insights on how to protect and grow your wealth. Topics covered include pre-planning for the sale, the importance of having a trusted team of professionals, legacy planning, risk management, alternative investments, and the potential impact of changes in tax laws. Don't miss this episode if you want to make the most of your business sale and secure your financial future.

Maximizing Practice Profits: Tips for Healthcare Practice Owners with Host, Eric Miller & Guest, Mike Nula

Maximizing Practice Profits: Tips for Healthcare Practice Owners with Host, Eric Miller & Guest, Mike Nula

In this episode of the Financial Beast podcast, host Eric Miller interviews Michael Nula, a successful healthcare practice owner and consultant, about the importance of profit in running a practice. They discuss the mindset shift required to prioritize profit and the various ways it can be utilized to support the growth and stability of a practice. Nula emphasizes the need for practice owners to treat profit as an expense and plan for it accordingly, rather than hoping it will magically appear at the end of the month. He also shares insights on setting profit margin targets, controlling expenses, and leveraging technology to increase profitability. Nula highlights the value of profit in determining the overall worth of a practice and the importance of planning for a successful exit strategy. Overall, this episode provides valuable advice and practical steps for healthcare practice owners to maximize their profits and build a thriving practice.

How to Successfully Transition to a Partnership in a Healthcare Practice Hosted byEric Miller & Guest, Brad Pierson, DDS

How to Successfully Transition to a Partnership in a Healthcare Practice Hosted byEric Miller & Guest, Brad Pierson, DDS

In this episode of the Financial Beast Podcast, host Eric Miller interviews Brad Pierson, an orthodontist who successfully transitioned his practice to a partner. They discuss the importance of having an exit strategy from the beginning and the key factors to consider when bringing on an associate and eventually transitioning to a partner. Brad shares his experience of finding the right associate, establishing compatibility, and structuring the buy-in process. He emphasizes the significance of having systems in place and a solid team to support the transition. Brad also highlights the importance of open communication, shared responsibilities, and setting realistic financial goals for both parties. This insightful conversation offers valuable insights for healthcare owners who are considering transitioning their practice.

Harnessing the Power of AI in the Medical World with Host, Eric Miller & Guests Daniel Stewart & Greg Martinez

Harnessing the Power of AI in the Medical World with Host, Eric Miller & Guests Daniel Stewart & Greg Martinez

In this episode of the Financial Beast Podcast, Eric Miller interviews Daniel Stewart and Greg Martinez from Athelas, a medical tech company. They discuss the importance of integrating advanced technology, such as artificial intelligence (AI), into the medical field. Stewart and Martinez explain how Athelas uses AI and advanced algorithms to help medical practices increase their revenue and reduce overhead costs. They highlight the challenges that practice owners face with insurance reimbursements and denials, and how Athelas' technology can streamline the billing process and improve first-time pass rates for claims. The guests also address the concerns and misconceptions around AI and emphasize the need for practices to adapt and embrace technology to stay competitive in the evolving healthcare landscape.

Life After Selling Your Veterinary Practice with Host, Eric Miller & Guest, Leslie Sirmons, DVM

Life After Selling Your Veterinary Practice with Host, Eric Miller & Guest, Leslie Sirmons, DVM

In this episode of the Financial Beast Podcast, host Eric Miller interviews Dr. Leslie Sirmons, a veterinarian who successfully sold her practice and transitioned into a new phase of her career and life. Dr. Sirmons shares her experience of making the decision to sell, the process of selling to a corporation, and the emotional and mental challenges she faced during and after the transition. She also offers valuable insights into the veterinary industry and the importance of utilizing paraprofessional staff to alleviate the burden on veterinarians. Dr. Sirmons emphasizes the need for strategic planning and financial preparation when considering selling a practice. She highlights the importance of having a clear vision for life after selling and finding purpose in new activities and hobbies. Dr. Sirmons also discusses the rewards and challenges of being a relief veterinarian and the opportunities for growth and learning in this role. Join this engaging conversation to gain valuable insights into the process of selling a veterinary practice and discover the possibilities that await after transitioning out of ownership.

The Price of Expansion with Host, Eric Miller & Guest, Jason Lenhardt

The Price of Expansion with Host, Eric Miller & Guest, Jason Lenhardt

In this insightful conversation, Eric Miller, a business consultant, interviews Dr. Jason Lenhardt, a veterinarian and co-founder of a successful veterinary practice. They discuss the challenges and rewards of expanding a veterinary practice, sharing personal experiences and valuable insights. Dr. Lenhardt shares how they navigated the process of finding a facility, securing financing, and determining the size of the building. He also discusses the importance of aligning with a veterinary-specific lender and the role of personal financial condition in obtaining a loan. Dr. Lenhardt highlights the need for scalability and the importance of having a strong leadership team to support the growth of the practice. He shares how they overcame challenges in managing the transition from a smaller facility to a larger one, including the loss of some staff members. Dr. Lenhardt also emphasizes the significance of maintaining a healthy work-life balance and the importance of prioritizing personal relationships amidst the demands of practice expansion.

How to Expand Your Practice and Involve Your Team with Host, Eric Miller & Guest, Wade Rinehart

How to Expand Your Practice and Involve Your Team with Host, Eric Miller & Guest, Wade Rinehart

In this interview, Eric Miller, also known as the Financial Beast, speaks with Wade Rinehart, owner of First Choice Physical Therapy, about the process of expanding a practice and involving the team in the growth. Wade shares his insights on the importance of transitioning from being a practitioner to an owner and administrator, and how this shift allows for expansion and more financial freedom. He emphasizes the need to involve and compensate the team members to ensure their buy-in and commitment to the expansion process. Wade also discusses the philosophy behind his incentive program, which rewards employees based on the company's profits, and how transparency in finances and goal-setting has contributed to the success of his practice. This interview offers valuable advice for practice owners looking to expand and create a thriving team environment.

The Reality Check: Unfiltered Insights from a Successful PT Owner with Host, Eric Miller & Guest, Johnny Johnson

The Reality Check: Unfiltered Insights from a Successful PT Owner with Host, Eric Miller & Guest, Johnny Johnson

In this episode of the Financial Beast podcast, host Eric Miller interviews Johnny Johnson, a successful physical therapy practice owner, about his experience with exiting his practice. They discuss the pros and cons of selling to a corporate or private equity group, the importance of emotional and financial readiness before considering an exit, and the strategies and tactics for building wealth and multiple streams of income. Johnny shares valuable insights on the importance of having a strong team, effective marketing, and the need to focus on profitability in order to create a solid financial foundation for retirement. They also touch on the future of the physical therapy industry and the key factors that contribute to a successful practice. Whether you're considering an exit or looking to grow and expand your practice, this episode offers valuable advice for every practice owner.