I’m going to share some really dirty secrets about your taxes.
Warning! You may not want to know the truth!
But you need to know. You must know.
You can’t afford to NOT get the critical information that could supercharge your income and unleash your wealth to grow faster than you ever believed possible.
When you realize how much richer you could get…how much better you and your family could live…the truth will tick you off big time.
We’re talking about blowing up the roadblocks between you and the things you really care about. Like nice things and trips for your family. Education for kids and grandkids at the finest schools. The power to retire sooner, and better. And the power to create a fine legacy your kids and descendants will cherish for generations.
So, are you ready for the truth?
Can you handle the truth?
Most tax preparers aren’t the tax experts everyone thinks they are.
They sound like they are.
They even think they are.
But too, too often, they don’t know what they don’t know.
Worse, what they don’t know is a lot…and it’s costing you big!
Of course, this situation can be very toxic to your wealth.
Millions of business owners and investors pay billions in needless tax because of it.
Here’s some cold, hard facts:
1. According to David Ramsey, “Every year, more than 2 million taxpayers overpay their income taxes—and we’re not talking about pocket change.”
2. Forbes says 93% of business owners overpay their taxes – even those with high dollar CPAs. Too many tax advisors just don’t know or care about all the opportunities in the 70,000 page tax rules, and their clients can pay dearly because of it. What does that mean to you? It means if you own a business, there’s a 93% chance you are bleeding needless family wealth by paying way too much tax.
4. A CPA/tax lawyer writing for Kiplinger’s blames CPA ignorance and laziness for wasting countless wealth to avoidable taxes. When you ask the question “What can I do to reduce my tax bill, if the accountant’s response is that they’re already doing everything they can do, it’s probably time to find someone else.”
Do you suspect you could be one of the millions of Americans who needless overpay your taxes each and every year?
If you’re reading this, the odds are overwhelming you are! And this could be costing YOU thousands or millions in wasted personal wealth and lost family dreams.
So ask yourself. Do families like the Buffets, the Tesla-Musks, and the Amazon-Bezos have access to exceptional tax advice?
You bet they do.
Let’s take a look at a real America family business success story – Amazon.
Last year, Amazon made 11.2 billion.
Amazon’s tax bill? $0.
In fact, it’s getting a tax refund of $129 million. That means it’s paying a -1 percent federal income tax rate.
Some call this corporate welfare. Bernie Sanders jabs that Amazon Prime members paid more for their subscriptions than the company paid in federal taxes, and he’s right.
But we don’t call it welfare.
We call it smart tax advice.
“Ted” is an ER doc with multiple income streams, including from a practice he owns. His old national CPA firm was running all the income through a W2, causing needless thousands in Social Security and Medicare taxes. Worse, tens and tens of thousands of no-brainer deductions were missed. He was also a perfect candidate for the “super 401k” concept, or defined benefit plan, with which at the end of 2019 we were able to save this family $30-40K like waving a wand. Ted himself estimated all these dropped balls and bad CPA advice cost him and his family over a quarter-million in the last few years alone. Fixing this stuff should save Ted and his wife millions they can use to retire sooner, and better.
Can smart advisors do this for you? Depends on the fact pattern.
Could you do worse than you’re doing now? I think we both agree that’s probably impossible.
It is very, very rare, and hard to know when you find it. But it is worth its weight in platinum once you do.
Fortunately, some practitioners have devoted themselves to excellence of advice and the pursuit of big tax savings for clients.