Hello Wealth Builders! After three long years of studying and testing, three months completing all the application requirements, I am proud to share that I am officially a Certified Public Accountant (CPA)! What's Changing? Several people asked, "Now that you're a CPA, what's changing?" The truth is nothing much about the quality of my work is changing. Even though I'm a newly licensed CPA, I've been in business and doing the work almost a decade. This coming January will mark 10 years. For...
13 days ago • 1 min read
Hello Wealth Builders! I promise I've heard this hundreds of times, "Just set up an LLC or S Corp and write everything off". The complaint I hear from taxpayers and new clients is, "I just need some more write-offs". Of course you want to accurately report your income and expenses, but that's not always enough. The truth is real tax strategy isn't about write-offs. That's the bare minimum. Real tax strategy is about wealth building. Wealthy people don't lower their taxes by spending...
27 days ago • 1 min read
Hello Wealth Builders! I've been in business almost 10 years and realized the number one reason most taxpayers overpay the IRS. You may be thinking, "my accountant doesn't give me enough deductions", or something along those lines. I've heard it all. The truth is you've been doing your taxes the "traditional way" which is waiting until April, filing what's required, and hoping for the best. That approach is literally costing you tens of thousands every year. You've tried doing it right....
about 1 month ago • 1 min read
Hello Wealth Builders! Summer is here! While many are taking well-deserved vacations, tax savvy business owners are also looking for ways to save personal cash and maximize legitimate business deductions. Let's talk about how to do it the right way - and the wrong way: THE WRONG WAY I recently heard someone say: "Any time I go out of town - vacation or whatever - I just meet people, exchange business cards, and deduct it as a business expense". I hate to be the bearer of bad news, but that's...
about 2 months ago • 1 min read
Hello Wealth Builders! We can officially say that we are half way through the year. It is the perfect time to reflect on what happened in the last six months, and plan for what you would like to happen in the next six months. Now is the time to ensure your strategies align with your goals. Of course this includes tax planning if you are planning to have a lower tax bill. Every year business owners purchase vehicles, spending more than they save in taxes, just to get a deduction. Can...
3 months ago • 1 min read
Hello Wealth Builders! It's been a while. Someone said, "I know you're glad busy season is over so you can breathe." Truth is tax filing season slows down, but I get busy doing other things. I jump right into continuing education classes, review systems and processes, as well as deep dive into unique tax topics. This time I locked in on studying for my last CPA exam. I had to pass it before June 30th or I would start losing credits for exams that I had already passed. I did it! I have...
4 months ago • 1 min read
Hello Wealth Builders! Most high earners approach taxes like they're driving a car - only looking in the rearview mirror. They send their tax professional their financial reports after the year is over, cross their fingers, and hope for the best. At your income level, hope is not a strategy, and it's definitely not how the wealthy build and protect their wealth. Rearview mirror thinking is simply filing your taxes. You're reporting what happened in the previous year behind you. It gives you a...
5 months ago • 1 min read
Hello Wealth Builders! One thing life and time have in common is they're going to keep moving forward when you don't feel like it or even can in the moment. What do people say? "Life be lifing!" Sometimes filing your taxes are the least of your concerns while you are juggling other priorities such as your health, loss of a loved one, amongst many other things. Next thing you know, you're 4-5 years behind on filing. Embarrassment and shame start to set in. I'll be the one to tell you: There's...
6 months ago • 1 min read
Hello Wealth Builders! We're almost through peak tax season while simultaneously planning for 2025 taxes. One thing about business and taxes, it's never ending. Just one continuous cycle. You really have to stay on top of your game if you're going to win at the game of taxes. One of the biggest mistakes I see people make is not paying attention to their numbers throughout the year and making quarterly estimated tax payments. The IRS is a pay as you go system. If you, as an individual, are...
6 months ago • 1 min read