The Due Diligence Project™

All posts by paul

008: Valerie Colin, one of the most influential women in accounting

Valerie Colin is a senior tax shareholder with Gumbiner Savett Inc. in Santa Monica. She has over 30 years of experience in tax, accounting and business consulting. A former auditor turned tax practitioner, she helps her clients optimize their tax situations with an emphasis on recognizing income and deductions for tax purposes, maximizing available employment credits and other incentives. She mostly serves high net worth individuals as well as privately held companies and helps them with all their tax work, planning, and compliance.

What you will learn from this episode:

  • What experience Valerie had early on that still influences how she does business today
  • Why Valerie was named the most influential woman in accounting in 2019
  • How Valerie effectively handles her client’s fears of approaching a CPA
  • What kind of CPA Valerie is and what she is really passionate about
  • How Valerie does due diligence differently from some of the bigger firms
  • What are the benefits of being part of a community of other independent elite CPA firms and virtual family office leaders
  • What are the main strategies virtual family office professionals use to save clients six-figures off their taxes
  • How Valerie really feels about working as a trusted advisor for her long term clients
Connect with Valerie Colin:
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LinkedIn

Learn more about The Due Diligence Project™ at

https://duediligenceproject.com/

007: Maximizing results and contributing to the community – Sherry Tolbert

Sherry Tolbert, President at The Tolbert VFO,  is a Certified Virtual Family Office (VFO) Professional and CPA with 27+years of hands-on-experience helping business owners, entrepreneurs, and real estate investors rescue millions of dollars in unnecessary taxes. She helps affluent business owners significantly reduce their tax bill using the same strategies that Jeff Bezos and Mark Zuckerberg have access to via their Private Family Offices.

What you will learn from this episode:

  • What Sherry does, the people she serves and what situations they find themselves in when they come to her
  • How she helps people maximize the results of their work
  • How things changed since she got started in the business
  • How she delivers results very differently from her competitors
  • How the best strategies are found through the VFO hub and the Due Diligence Project
  • How curiosity is important to being an elite VFO
  • How Sherry truly cares about her clients and how she contributes to the community
Connect with Sherry Tolbert:
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Website: ​www.tolbertcpa.com
LinkedIn: ​https://www.linkedin.com/in/sherrytolbertvfo/
Email: sherry@tolbertcpa.com

Learn more about The Due Diligence Project™ at:
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https://duediligenceproject.com/

006: Fresh approaches result in tax savings and business growth – Mike Jesowshek

Mike Jesowshek heads an elite virtual family office and is an elite CPA. He serves high net worth individuals and business owners around the country. Mike is a managing partner of JETRO and Associates. He works to help small business owners with accounting methods and taxes tailored to their businesses. Mike specializes in helping law firms, fitness studios, and general professional services such as marking companies, digital agencies, etc. His approach is fresh, innovative, and up-to-date.

What you will learn from this episode:

  • How Mike looks for a modern way to do taxes and grow business
  • How his experience in business taught him to rely on multiple people with deep knowledge in different areas
  • How to focus on tax savings during the entire year 
  • How to focus on the uniqueness of one’s business regarding growth and taxes
  • Why it’s important to work with a financial advisor, lawyer, and accountant together to get the best results
  • How due diligence is understanding the client’s unique needs, current, and future
  • How Mike puts in the time to learn, resulting in outstanding savings and progress for business growth
Connect with Mike Jesowshek:
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Website: www.mikejesowshek.com/home-page31543172
LinkedIn: www.linkedin.com/in/mikejesowshek/
Facebook: www.facebook.com/groups/jetroinc/

Twitter: twitter.com/mjesowshek

Learn more about The Due Diligence Project™ at:
​

https://duediligenceproject.com/

005: Top qualities for guiding a virtual family office – Dale Spradling

Dale Spradling Ph.D., CPA, provides elite, virtual family office services. He worked in the IRS for 10 years, then in private practice and as a college professor. Dale currently works with ultra-wealthy business owners and families. He offers unique value to the Due Diligence Project.  

What you will learn from this episode:
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  • How Dale aims to zero out taxes if the client provides adequate information
  • How going deep into tax regulations brings good results
  • Why clients with great wealth should assume they may be audited and avoid worrying about it
  • Why Dale likes working as a CPA firm of one
  • How he appreciates the VFO (Virtual Family Office) as a completely open-source
  • How empathy in discussions can reveal a real need which may not have been expressed
  • How Dale is upfront if he decides he can’t help someone
Connect with Dale Spradling:
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LinkedIn: ​linkedin.com/in/dale-spradling-550abb3/  
Email: dale.spradling@gmail.com

Learn more about The Due Diligence Project™at:

https://duediligenceproject.com/


004: The Benefits of Working with a Virtual Family Office – John Power

John Power is a CPA, Certified Tax Strategist, and President of Power Virtual Family Office. John serves ultra-high-net-worth clients around the country, delivering amazing benefits to them. He works mainly with the owners of closely held businesses. 

What you will learn from this episode:
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  • ​How John’s firm was able to increase a client’s tax savings to $800,000 by using due diligence in research about IC-DISC
  • How John’s focus on tax planning, versus just compliance, brings big benefits to his clients
  • How John’s over 35 years of experience adds great value because of his increased understanding about how to mitigate taxes
  • How by narrowing the focus of some services it allows John adequate time to be more proactive with his top clients
  • How important it is to give clients a realistic idea of the pros and cons of any plan
Connect with John Powers at:
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LinkedIn
Website

Learn more about The Due Diligence Project™ at:
​

Website

003: What Running A Highly Successful Virtual Family Office Looks Like – Bill Shenkin

Bill Shenkin is a CPAand CEO and President of CeFO, Inc, providing family office services for high net worth individuals. His office is located near Denver, CO. CeFO provides chief financial officer services including strategic business review and planning, regular financial review, equity and debt financing, buy/sell negotiations, and tax services. CeFO stands for Consulting Excellence for Organizations and Family Office.  

He is also the founder and chairman of Fit for Life, Inc., which helps those with brain dysfunctions.  

Bill’s business has specialized in health clubs, real estate, professional sports, political accounting, oil and gas, multi-family office practice, music industry, and many others.  

What you will learn from this episode:

  • ​​How Bill took what was normally a service for billionaires, and customized it to work for those with 50 million and more  
  • How one of the key benefits of a family office for a wealthy family or business owner is to only have to contact 1 person for their financial needs
  • How his firm provides due diligence for clients about financial needs as well as investments to assure viability
  • How being a part of the VFO Hub (Virtual Family Office) network is a big benefit to his firm
  • How he founded Fit for Life, Inc., which is involved with helping those with mental health disorders
  • What an opportunity zone fund is
Connect with Bill Shenkin at:
LinkedIn
Website

002: The Benefits of Setting Up A Captive Insurance Company – Wesley Sierk

Wesley Sierk is the President and Lead Strategist for Risk Management Advisors, Inc, and a Board Member of The Due Diligence Project™.

Wesley is an expert in captive insurance design, implementation and management. He is a frequent speaker to industry associations as well as law and CPA firms on asset protection and how ordinary businesses can escape the hard/soft market of insurance by creating their own closely-held insurance companies.

He is the author of Taken Captive: The secret to capturing your piece of America’s multi-million dollar insurance industry. 

In this interview we discuss:

  • What is a captive insurance company?
  • Why form a captive?
  • What are the risks associated with forming and operating a captive?
  • How Warren Buffet rates owning insurance companies amongst his other investments.
  • How Wesley’s clients’ range from boat builders, to energy drink companies, to a collection of 14 high end plastic surgeons, to a variety of manufacturing companies.
  • How all of his captive clients are doing a minimum of $10 million dollars of revenue, an average of $50 million, and even a couple of clients in excess of $1billion in revenue.
  • The reason why traditional health insurance companies are not run as efficiently as the could be, and how setting up a captive insurance company can change this.
Connect with Wesley Sierk at:
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LinkedIn

Website

001: The CPA Firm Of The Future – Richard Muscio

Richard Muscio is a CPA thought leader, bestselling author, motivational speaker, collaboration expert, community leader, radio talk show host and filmmaker.

Known as “the mayor of San Diego,” Richard runs a Virtual Family Office and MultiFamily Office serving ultra high net worth and billionaire families in San Diego. 

In his over 30 years experience as a CPA, Richard has developed a specialty in estate/gift/trust matters and helping wealthy families understand their complex finances. He also consults CPA firms desiring to improve the value of services offered to wealthy clients and successful businesses.

In his role as The Family Office Guy, Richard serves as “of counsel” to six Family Offices. He blogs as The Family Office Guy at www.iymoney.com, and hosts an award-winning weekly radio show on 760 AM KFMB in San Diego from 7-8 PM Saturday evening which broadcasts from the historic La Valencia Hotel.

Key Questions We Asked:

  • Tell us about what you do inside your family office and how you got started.
  • What is the biggest challenge your ultra high net worth clients typically face?
  • What is the biggest fear for extremely wealthy families?
  • What is your role in helping your clients achieve significance?
  • What is the value of the resources in The Due Diligence Project™ and Virtual Family Office Hub™?
  • How does a CPA transition from a model with over 1000 clients to one that focuses on their very best clients?
Connect with Richard Muscio at:
LinkedIn 
Website
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