Thanks to Greg Hock for taking time out during this busy tax season to join me on the NGPF podcast. I have been a client of Greg’s for a few years now and appreciate the value-added services that he provides that go well beyond just filing a tax return. I enjoy exchanging ideas and getting his perspective about building financial capability in young people, which come from years of experience of being a trusted parter with his clients.  I enjoyed our wide-ranging conversation in this podcast, which went from discussing the career path of an accountant to why he took the leap of faith to start his own firm and into specific teen tax tips and common myths when it comes to filing taxes. So, just in time for tax season, here’s Greg Hock…enjoy!

Details:

• 0:00~1:29 – Introduction
• 1:29~2:29 – How does one become a tax expert?
• 2:29~3:46 – Experience of working at a Big 4 accounting firm
• 3:46~5:22 – The entrepreneurial journey: starting his own accounting firm
• 5:22~8:03 – How to find clients
• 8:03~9:24 – Importance of experience in tax
• 9:24~10:32 – Greg‘s clients
• 10:32~13:23 – What does it take to be an accountant?
• 13:23~14:49 – Tax season workload
• 14:49~18:01 – Teen tax returns
• 18:01~21:36 – Filing the W-4
• 21:36~23:53 – Common misconceptions on tax returns
• 23:53~24:11 – A word from our sponsor, Next Gen Personal Finance
• 24:11~27:12 – What it means to file as a dependent
• 27:12~33:10 – Money lessons for students
• 33:10~36:45 – IRS Fraud
• 36:45~39:36 – Fraud prevention
• 39:36~43:31 – Outlook for tax reform with the new Administration
• 43:31~45:27 – Recommended books
• 45:27~46:08 – Conclusion

• “If it’s real money, they pick up on it [personal finance concepts] really fast. If it’s just using a textbook, or doing a mock portfolio with a million dollars in it, it won’t work. To me if there is a way to allow them to use real money and it’s affordable, it will make all the difference.”

• Books:
  • The Number, emotional and psychological side of retirement planning)
    • Here’s a Book Review of The Number from Barbara O’Neill, distinguished Professor at Rutgers Cooperative Extension Program (thanks for sharing Barbara!)
  • Epic Measures: “Moneyball meets medicine in this remarkable chronicle of one of the greatest scientific quests of our time—the groundbreaking program to answer the most essential question for humanity: how do we live and die?—and the visionary mastermind behind it.”

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.