Dream with me for a minute.
You have an extra $15K dollars in your pocket that you didn’t have to pay in taxes this year like you did last year. What can you do with this $15K dollars?
Down Payment on a House?
Pay off Debt?
Whatever comes to your mind, I’m sure it makes you happier than the thought of all that money you worked so hard for going to the federal government. No matter your political affiliations, most of us would agree that we can spend our money better than the government can.
The IRS has (surprisingly to most people) built plenty of useful loopholes into the tax code. These loopholes, credits, deductions, etc. are woven throughout the code and are not always easy to identify. This is where your trained tax planner will come in and craft a plan built specifically for you. No two businesses or family situations are identical. That’s why no two tax plans are identical.
What Is The Tax Planning Process?
Tax planning starts with a strategy session where we will ask you questions about your current business situation. As we dig deep into your business structure, past practices, finances, and projections, we will listen for mistakes and missed opportunities. During the call we will estimate an amount that you've overpayed in the past and the amount that you can expect to save with a strategic tax plan. We will give you an opportunity to work with us and if you agree, we'll take payment, schedule our follow up call and get to work! The next part is when we dig deep into your tax situation and craft a unique-to-you tax plan that will save you thousands. We’ll deliver the tax plan to you via .pdf and physical book and make you a video where we’ll walk you through each piece of your tax plan.
What Amount Can I Expect To Save?
It depends (every accountant’s favorite answer!). Really though, because every situation is so unique, every person’s savings is different. Our clients enjoy an average of $20,833 in tax savings.
Is It Just a One Time Savings?
No! That’s the beauty of tax planning. Many, if not most, of the strategies we include in our tax plans are going to yield our clients tax savings year after year. Sometimes there are drastic tax savings just because we are trained to look for mistakes from prior preparers. But, for the most part, the savings we share are repetitive. We walk you through all of this in your meeting when we deliver your strategy.
How Much Should I Expect To Pay For a Tax Plan?
Tax plans are not cheap. We don’t do hourly billing, so the price we quote you will be based on what the value is that we’re offering, not on how long it takes us to complete it. Our minimum for a client to work with us is $2,500, but tax plans can sell for upwards of $50,000. We know our prices are premium. We don’t apologize for that and instead set out to provide premium service and premium savings. I mean, would you rather pay us $10,000 or the federal government $40,000?
What Kind of Strategies Do You Use?
Our tax strategists are constantly learning new strategies, discovering ways to better use existing loopholes in the tax code, and combining ideas for maximum savings. You’ll hear us talking about entity selection (a big deal for business owners), income shifting, retirement planning and investing, missed deductions, etc.
When Should I Get a Tax Plan?
Tax planning conversations almost always happen too late. The sooner a tax plan is implemented, the sooner savings can be realized. Dealing with taxing authorities always comes with deadlines. Come to us as soon as you’re aware of the necessity for planning out your tax future and we’ll get you on the road to maximum savings.