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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! 

*Photo by rawpixel.com on Unsplash

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:

Tax Blueprint

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. 

Photo by Maarten van den Heuvel on Unsplash

So what do the IRS and clowns have in common? If you guessed “they are both terrifying!” you’d only be half correct. As a small or medium-sized business owner, taxes are only scary if you don’t have a sound tax saving strategy in place. Clowns, on the other hand, are creepy no matter what. Sorry, Bozo. 

As your business becomes more successful, and your profit increases, your tax liability will also increase (and if you’re easily spooked, you may even notice a spike in nightmares and panic attacks.) As a small business owner, there isn’t anything scarier than taxes.

So how do you mitigate the fear you feel towards the IRS? Strategic Tax Planning.  Like Brian Tracy, once said, “A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power.”

While Financial Gravity can’t help you overcome your fear of clowns or creepy crawlers, we can help you develop a tax savings plan, or Tax Blueprint®, that will allow you to get good night’s rest. Our Tax Blueprint is a tax reduction plan that is customised specifically to you and your business. And the absolute best part about implementing our Tax Blueprint? You’ll never pay more than half of what we save you. The cost of the service will always be less than your total reduction, backed by our 2x savings guarantee.

Let me repeat myself, the amount we save you will ALWAYS be more than what the service costs. 

Whether you’ll be shuffling your kiddos around the neighborhood as they beg for treats, watching a Chucky marathon with your significant other, or running away from a chainsaw-wielding zombie butcher at a haunted house, Financial Gravity hopes your Halloween is filled with WAY more treats than tricks.

Want to read real-life case studies featuring clients who have successfully implemented the Tax Blueprint to reduce their tax liability? 

Photo by Thomas Roberts on Unsplash

Before we start, I want to define what strategic tax planning actually is. Strategic Tax Planning is a phrase coined by Financial Gravity, but it’s a pretty basic concept. Lowering taxes increases profitability and grows wealth. Unlike other tax-related services and solutions, at Financial Gravity we’re committed to working with you personally to proactively develop a plan to minimize your tax burden and maximize your success. 

STRATEGIC

Our tax strategies aren’t just picked randomly out of a hat. We have partners all over the country who are trained, certified, and experienced tax planning advisors who help you keep capital in your business and pay less tax. 

TAX

All of our financial advice starts with Taxes. Why? Because the Tax Code is FULL (more than 20,000 pages full) of legal ways you can pay less tax (such as structuring your business as an S-corp instead of a Sole Proprietor or even hiring your kid). The financial industry is broken. Advisors either want to make a transaction or commission while Accountants just want to put numbers into boxes (they aren’t trained to help you with taxes, say what?) Financial Gravity helps small and medium-sized business owners keep more of what they’ve earned — so they can pour money back into the economy and hire more people– by giving them advice based on what the tax code says, not what commission they’ll earn.

PLANNING

You wouldn’t start a business without a business plan, would you? You wouldn’t build a house without a blueprint, would you? You wouldn’t plan a dinner party without a grocery list, would you? Enough said. 

At Financial Gravity, we firmly believe that accounting firms are not serving their clients the way they should be. We want to change the financial services industry from being transaction, commission, and product based, to more Tax Code based. By offering Strategic Tax Planning, Financial Gravity will help SMB owners lower their personal income tax liability, and give them numbers that help them run their business

Here are three examples of small business owners who didn’t receive Strategic Tax Planning:

1. You’ve structured your business as Sole Proprietor because your neighbor John told you it’s the easiest way to get started as an entrepreneur (and you are all about preventing headaches). What John didn’t tell you, however, was what would happen if you earned more than $100k as a sole proprietor. Earning more than $100k in gross revenue will increase your risk of being audited. Your headache prevention plan actually turned out to be your biggest nightmare. Not only did you end up paying far more in taxes, but now you have to hire a lawyer to help you sort out this scary audit.

Financial Gravity can help you identify the right filing status for your business.

2. My financial advisor told me to start with an IRA, Individual Retirement Account, and then jump to a 401k after I grew my business. Now that I’m retired, I realize how terrible this advice actually was. Not only have my taxes increased but I’ve had to decrease my lifestyle because my money doesn’t go as far. Not only have my taxes increased but my money is not able to sustain the lifestyle I wanted to live. 

Financial Gravity can help you choose a retirement plan (without Third Party Administrators, confiscatory fees, or discrimination rules) that fully supports your unique vision of retirement.

3. My accountant told me to file the $50,000 I spent hosting educational seminars for potential clients and referral partners as a Meals and Entertainment expense. Therefore, I was only able to deduct 50% of the total instead of the entire amount. Little did I know that I could have filed it as a Marketing expense and deducted the full amount. This mistake cost me thousands of dollars.

Financial Gravity can provide you with our Tax Blueprint® (a tax reduction plan that is customized specifically for you and your business). The Tax Blueprint® is your strategic tax plan that when implemented will maximize your personal tax savings and give you numbers to run your business.

Photo by nikko macaspac on Unsplash