Ep 59 - Purpose driven financial planning with Justin Krane

The Mark Perlberg CPA Podcast

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What would you do with $25 billion? Join us for an enlightening conversation with Justin Krane, a Certified Financial Planner, as we explore the realms of purposeful finances. We delve into the importance of philanthropy, fostering entrepreneurship, and the personal journeys that led us to embrace entrepreneurial paths over traditional corporate roles. Justin shares invaluable insights on overcoming societal and familial pressures to find a career aligned with one’s strengths and passions, making this episode a must-listen for aspiring entrepreneurs and business owners alike.
In the latter part of our discussion, we tackle strategic tax planning with a focus on Roth conversions and cost segregation studies. Discover how to leverage operating losses and business depreciation for tax savings, and understand the complexities of required minimum distributions (RMDs) and Social Security on retirement income. We provide practical advice on timing Roth conversions to maximize tax-free growth, updating estimated tax payments, and the benefits of the PTE tax election for high-income earners in high-tax states. Tune in for a motivating episode that empowers you to take control of your financial future with actionable strategies and expert guidance from Justin Krane.
To connect with Justin Krane on linkedin go to:https://www.linkedin.com/in/justinkrane/ and to learn more about his services visit https://kranefinancialsolutions.com/
And if you or someone you know is interested in our services, go to https://www.markperlbergcpa.com to learn more

Chapters

1. Business Owners (00:00:00)

2. Strategic Roth Conversions for Tax Planning (00:14:21)

3. Belief in Creating Financial Success (00:24:23)