Finding tax and investment advisors who give you proactive advice for saving on your taxes probably feels like an elusive search. The truth is that not every tax professional, in fact, the majority of them, do not do any proactive planning. Most CPAs are not even trained to do this level of tax planning. If you’re ready to leverage the benefits of the tax code and stop spending money unnecessarily, then you need a tax professional who understands business owners. At Financial Gravity we are versed in the minutiae of the tax laws, and we can help you keep more of your money with strategic tax planning.
You might think of spring as “tax season,” but that is a misnomer for small business owners. In reality, tax season should be thought of as tax filing season. Yes, it’s important to get your tax return filed on time, but the need for tax planning is really an omnipresent one. Filing your taxes is merely the end of a year-long cycle where you should see results of everything that happened in the past year. There are hundreds of opportunities to minimize your taxes throughout the year, but it starts now with a proactive tax strategy. If you want to pay less on your taxes, you need a tax professional who works for you year round.
Your CPA is likely well-meaning, and he or she is generally knowledgeable about taxes. But they’re trained to make sure you’re in compliance with the tax code after the fact. Proactive tax planning isn’t their strong suit. But when you look at the tax year ahead, you need a strategy before you get to the end of it. Read more
If you are an entrepreneur or small business owner, having a good accountant is essential for the function and success of your business. You need someone to make sure your books are in order, and you have properly paid your taxes–in other words, good tax preparation. However, if you want help lowering your taxes, increasing your profits, and attaining greater wealth, you’ll need the help of a proactive tax strategy. Read more
How are small business owners and entrepreneurs like artists? Well, they combine their passion and available supplies (such as laws) to create a masterpiece (products and services that people actually want.) Entrepreneurship is associated with risk because, well, it’s risky to quit your day job with a consistent salary to start a new venture with no guarantees. After literally risking it all, it utterly amazes me that small business owners still turn to the one professional who is the exact opposite of an artist for tax advice. Yep, I’m talking about your CPA. If you show a CPA a Picasso, they’ll likely value the painting at ten bucks (or the cost of materials.) Why? Because they lack the ability to think outside the canvas.
Everyone thinks that the CPA industry does a thing that it isn’t actually trained to do. Financial Gravity, on the other hand, is trying to solve this problem by 1/ figuring out your unique situation and 2/ applying the tax code to your unique situation. Bottom line, we help small business owners and entrepreneurs lower their personal income taxes legally, morally, and ethically by making the same strategies that the ultra-rich use, accessible and available to everyone.
Still not convinced? Ask yourself this question: When is the last time your CPA saved you at least $1000 in taxes? If your answer is “never,” then ask yourself this question. What do you think a CPA actually does?
CPAs aren’t artists, they are historians (number historians to be exact). They take what you’ve already done and record it. They don’t tell you how to do what you’ve done differently. In fact, they aren’t even trained to do proactive tax planning (which is an art in itself.) Being an artist, entrepreneur, or small business owner involves some level of risk, something that CPAs are naturally averse to. CPAs became CPAs because there is no risk involved. They may answer the questions you ask them, but they don’t get to the core of WHY you asked the question in the first place.
So, if the CPA industry can’t help you, who can? What you need is someone who knows how to ask the right questions to get to the right objectives, someone who knows that there are lots of laws located in the tax code to help business owners like you save on taxes, someone who understands the art of business…Financial Gravity.
Take this scenario for example.
I call my CPA and say “I want to put $10,000 into my IRA.” To which my CPA replies, “you can’t do that, sorry.” Financial Gravity, on the other hand, would dig a bit deeper and ask, “Are you married? If your spouse doesn’t work, then you can have your spouse put in $5000 and then you can put in $5000.”
If everything Financial Gravity recommends is legal, moral and ethical, why are CPAs so afraid of being red-flagged by the IRS if they implement the same strategies?
The simple answer is that they are just a risk-averse profession even if that risk is a fallacy. There is nothing risky about applying the laws located in the tax code to reduce your personal income taxes. That’s what they’re for. For example, there are four ways to write off a home office. If it’s a red flag to write off your home office, why are there four legal ways to do it? Bottom line, laws are hard to pass. If there’s a law in the tax code that reduces your personal income taxes, USE IT! Or call Financial Gravity and we’ll help you do just that.
One of our company-wide goals is to help small and medium business owners retain their hard-earned capital through Strategic Tax Planning. If you think you may need a strategic tax plan, but you still aren’t sure, take this quick tax quiz below to find out.
Financial Gravity Tax Quiz
1/ Are you an SME or SMB owner?
If yes, proceed to question 2.
If you’re not sure, here’s a definition of a Small or Medium Sized Enterprise (SME) or Business (SMB) according to this article on SMBResearch.com. A small business or enterprise has fewer than 100 employees (startups and self-employed peoples fall into this category) while a medium sized business or enterprise can have between 100 and 10,0000 employees. Anything more than 10,000 and you’re jumping into the large enterprise category, aka The Big Dogs.
If not, don’t fret. You can still follow our blog, Twitter, and podcast for tax saving strategies and entrepreneurial inspiration. When you finally open up shop, let us know, we also help with business strategy!
2/ Do you pay more than $20,000 in taxes per year?
If yes, proceed to question 3.
If not, perhaps you’d benefit from our Business Blueprint™. The Business Blueprint™ provides a “jumpstart” for clients struggling to obtain traction with operations to support the owner’s vision. It provides the basic foundations to operate a healthy and happy team and is the beginning of realizing a company’s true potential.
3/ Do you think you’re paying too much in taxes?
If yes, proceed to question 4, if not sure, proceed to question 4 anyway.
If not, are you sure you filed taxes this year? If you are a small business owner, it’s highly likely you’re paying too much in taxes.
4/ Has your accountant, tax preparer, CPA, or financial advisor provided you with a strategic tax plan that saves you more than $1000 per year?
If yes, then congratulations! Call him or her right this minute and invite them out for a drink. You’ve found yourself a rare gem. Most accountants don’t offer strategic tax planning. Here’s why.
If no, it’s time to ditch the zero and get with the hero.
Financial Gravity exists so that we can help small and medium-sized business owners reduce their tax liability, increase their profit, and attain greater wealth. We do that by providing Strategic Tax Planning which is derived from over 70,000 legal tax laws located in the tax code. Our Tax Blueprint™ (a clear tax reduction plan) will never cost more money than it saves you, backed by our 2x guarantee. Without a Tax Blueprint™, you don’t have a Strategic Tax Plan.
Here are your next steps:
1/ Get in touch with us today. After a 15-30 minute no obligation assessment, we will determine if we can lower your tax liability.
2/ Do your happy dance!
Financial Gravity isn’t just your average run of the mill financial services company whose sole purpose is to create a transaction or sell you a strategy or product. We exist so that we can help small business owners like you lower their personal income taxes, increase their profits, and attain greater wealth. So, how does Financial Gravity help small business owners recapture the hope of financial freedom AND retain more of their hard-earned capital? Strategic Tax Planning.
Strategic Tax Planning is something you most likely aren’t receiving from your CPA. There are a few reasons why this is true.
1/ Accountants only understand a small portion of the tax code. Instead of being future focused, they are more interested in historical record keeping. While some may provide reactive tax advice, they are unaware of how to proactively and strategically make the tax code work in your favor.
2/ Accountants are likely to have Type-A personalities. While that’s great for plugging numbers into boxes, it means they probably aren’t flexible or open to change. A strategic tax planner must take into account the small business owner’s lifestyle, short and long-term financial goals, and spending habits.
3/ Accountants err on the side of caution. Though there are over 70,000 pages of green lights in the tax code, accountants tend to focus on the five pages of red lights to avoid being flagged by the IRS. It’s important to understand, however, that a green light is not the same as a “loophole.” It’s not a “red flag” to go through the intersection and it does not increase your risk of getting a ticket because you “used” this particular law to get through the intersection. Remember, the tax code was meant to be used, not feared.
What does Strategic Tax Planning at Financial Gravity look like? Designed and implemented by our insanely smart tax and wealth professionals, the following two products seek to give small business owners proactive fiduciary-type advice that serves their best interest:
Without a Tax Blueprint®, you don’t have a Tax Plan. After a free 15-30 minute no obligation assessment, Financial Gravity will determine if we can substantially reduce your tax burden. If so, we take 200+ proactive tax strategies and create a personalized Tax Blueprint® just for you. All of our strategies come directly from the IRS Tax Code and are legal, ethical, and moral. The best part is that we guarantee to deliver a tax savings of at least 2x the cost of the Tax Blueprint®, or it’s free. That means you have nothing to lose except overpaying taxes. Your Tax Blueprint® has the potential to return tens or even hundreds-of-thousands of dollars annually to your bottom line.
Tax Operating System
Designed to fit any budget and circumstance, the Tax Operating System® works in coordination with the Tax Blueprint by providing a suite of solutions to save you money. Regardless of which solution you select, you can count on access to our advisors, annual tax planning assistance, ongoing newsletter, and educational materials. Some of the solutions you can choose from including Advisory, Tax Preparation, and Bookkeeping with Purpose®.
Financial Gravity has a national partner network of financial advisors and accounting professionals that help small business owners, like you, attain business and personal goals, reduce their tax burden, and keep more of their hard-earned capital through Strategic Tax Planning. If you are a small business owner who is tired of paying too much in taxes, get in touch today.
Billionaire Warren Buffet wisely said, “someone’s sitting in the shade today because someone planted a tree a long time ago.” There is no denying that financial planning is an essential part of your business (if you want to position yourself for success), but what do you do when the current financial system is either biased or irrational? Instead of reaching out to a financial advisor (who might as well be called a salesman) or your IRS-averse, Type-A CPA…get in touch with Financial Gravity. Financial Gravity provides legal, ethical, and moral ways to help you pay less money in taxes (and take home more personal income).
Most financial advisors sell products, transactions, or strategies that are driven by commissions. According to an article in The Wall Street Journal, even if an advisor claims he or she is “fee-only,” they can still receive commissions.
What does that mean for you, the small business owner? If your financial advice isn’t tax-centric, then you’re likely receiving biased advice.
Most CPAs weren’t trained to give you financial advice. Though the CPA exam is a rigorous 16-hour test that spans 2 days, there isn’t one question related to personal income taxes.
What does that mean for you, the small business owner?
Because your CPA is unaware of how to proactively and strategically use the tax code, he or she may be irrationally afraid of being red-flagged by the IRS, (which means they probably won’t help you use the tax code to lower your income tax.)
Ask any small business owner or entrepreneur what their least favorite thing about running a business is and you’ll likely hear this response, “TAXES.” But like most things in life, we usually hate the things we don’t understand. Financial Gravity knows how to make the tax code work in your favor. We help small business owners, like you, recapture the hope of financial freedom by providing Strategic Tax Planning, something that you probably aren’t getting from your current financial advisor or CPA.
The financial planning planet is currently driven by products, commissions, and transactions. Financial Gravity, however, operates in an entirely different universe. Instead of selling products like most financial advisors, we are “product agnostic” –meaning we let the Tax Code determine the best product for you. If you don’t want the product. Fine! We will present the next option. By centering all of our financial advice around the tax code, we remove any chance that you’ll ever receive biased advice. Financial advisors can’t give nonbiased financial advice because they are either product-centric, strategy-centric, or transaction-centric. Bottom line: 99% of Financial advisors are trying to sell you something.
For example, I bet you weren’t aware that your 401k is the most expensive retirement plan you can implement. 401k users may be paying as much as 4% towards hidden fees covering everything from marketing expenses to transaction costs. YUCK. There are retirement plans, however, without Third Party Administrators, without confiscatory fees, and without discrimination rules. These plans have the ability to defer hundreds of thousands of dollars. Some even “self-complete” like a pension, meaning if you die your spouse is entitled to the benefit. If you want to maintain or increase your lifestyle upon retirement, then you need to hire someone who can help you avoid the conventional 401k, 403b, 457, SEP, SIMPLE, IRA in favor of a retirement plan that supports your unique vision of retirement
Maybe you’re thinking, well what about my accountant? They have my best interest in mind, don’t they?
Not so fast. Accountants can’t give financial advice because they aren’t trained to help entrepreneurs and small business owners lower their personal income taxes and then give them numbers to help them run their business. Bottom line: The CPA exam has nothing to do with tax planning. See for yourself here. And furthermore, accountants don’t really care if a tax strategy saves you money. If it creates more work for them, they will likely advise you against it (and may even tell you that it will create a red flag and increase your chances of being audited.)
The tax code has over 70,000 pages of green lights for you to use, so use them!
Financial Gravity is creating a tax-centric universe that is moral, legal and ethical, and not driven by products, commissions, and transactions. We want entrepreneurs, high net worth individuals and small business owners to pay the least amount of taxes required by law (which will then allow them to pump more money back into their business and into the economy.)
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.
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