A few weeks ago we asked our Twitter followers who they turned to for financial advice.  Not surprisingly the majority of responders wrote in that they turned to their accountants or CPAs.

Now just because we weren’t shocked to see this result, doesn’t mean we were any less offended. We aren’t sure when this myth started, but Financial Gravity is bound and determined to bust it once and for all. While a good accountant is an essential piece of your enterprise puzzle, your CPA wasn’t trained to give you financial advice. 

Though your Veterinarian may be very knowledgeable on how to treat your dog’s thyroid problem, you wouldn’t make an appointment for your husband’s thyroid problem, would you? (Maybe it’s best if you keep that answer to yourself.)

Now, don’t get me wrong, I’m not saying CPAs aren’t intelligent people. I’m sure they are (well most of them, anyhow). What I’m saying is that, in order to become a certified CPA, you must pass a rigorous test that lasts 14 hours and spans across 2 days. Though it’s a lengthy and mind-numbing test it is solely focused on General Accepted Accounting Principles and has nothing (absolutely NOTHING) to do with taxes or financial planning. Seriously, there isn’t even one question related to personal income taxes on that thing. 

Your accountant is a historian. They record what you’ve done. Sometimes they may even offer you “reactive” tax advice after the fact — but recording data and then transferring that data onto a tax return is not the same thing as Strategic Tax Planning. BOTTOM LINE: Tax preparation, tax filing, and accounting are important skills but they don’t amount to proactive tax planning!!

Financial Gravity does offer proactive, strategic tax planning, however. After a simple 15-30 minute no obligation assessment, we’ll determine if we can substantially reduce your tax burden. If so, we will develop a tax savings plan utilizing our exclusive Tax Blueprint®. The Tax Blueprint® provides a clear tax reduction plan that is customized specifically for you and your business. You can expect that the total reduction of your taxes will be substantially higher than the cost of the service itself. This is backed up by our 2X savings guarantee (that means you’ll never pay more than half of what we save you in tax savings.)

If your accountant, bookkeeper, or tax preparer has not given you at least one idea that saves you at least $1000 in taxes EVERY YEAR, then you may have outgrown your accountant. As in life, graduating from one phase of business to another is an essential path to growing your business and profit. 

It is your legal right, and dare I say moral obligation, to you and your family to pay the least amount of taxes allowed by law so that you can better serve your stakeholders and position your company to grow. 

Photo by Lacie Slezak on Unsplash

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