Strategic tax planning is an important part of building and preserving your wealth. There is a saying that says, “it’s not what you make that matters, it’s what you keep that can make a difference.” Don’t leave money on the table, wasting money on taxes that you don’t legally have to pay. For many people, taxes are your biggest expense. It makes sense to focus on saving money where you currently spend the most. Strategic tax planning guarantees results, but those guaranteed results start with planning. When it comes to creating and managing wealth, the greater we can control and limit taxes during your lifetime, the greater resources you’ll have for your family and the bigger your legacy will be that you can leave behind, positively impacting the people and causes that matter to you. We can show you how you can use strategic tax planning to retain more of your wealth.
Wealth Building Through Strategic Tax Planning
There are two ways to put more cash in your pocket, make more money and spend less money. You can spend a lot of time and effort promoting your business with no guarantee of success. Or you can focus on strategic tax planning and guarantee more tax efficiency. While a lot of people focus on trying to make more money, financial offense, the secret is actually spending less, financial defense.
The Tax Cuts and Jobs Act is the most important new tax law in over 30 years. While the law’s main focus is on cutting corporate tax rates, Congress also wanted to cut taxes on business income that’s not taxed at the corporate level. Those tax cuts were offset by the tightening or eliminating of many of the deductions Americans have come to take for granted over the years. Altogether it’s a lot of tax changes that make strategic tax planning more important than ever.
You Need a Strategic Tax Plan
Strategic Tax Planning helps you keep more of what you make, while Wealth Management invests what you keep. Planning has always offered the opportunity to pay less, and the Tax Cuts and Jobs Act offers lots of new strategic tax planning opportunities. Make sure that you are seizing all the available ways to save money on your taxes. For example, if you pay for your own insurance, you can deduct it as an adjustment to income. Did you know that you can write off medical bills as business expenses? You can, and it’s called a Medical Expense Reimbursement Plan, or Section 105 Plan.
If your tax advisor hasn’t given you proactive advice about your medical expenses, they likely haven’t told you about the Augusta Rule which allows you to rent your house to yourself, creating tax-free income. The truth is that most tax advisors aren’t very proactive when it comes to saving their clients’ money. If you aren’t satisfied with the taxes you pay you aren’t alone. The great majority of CPAs do not know how to do this level of tax planning, simply because they are not trained to do so.
If you’re ready to lower your taxes, a strategic tax plan is the business fundamental that you are missing. Your Tax Blueprint® from Financial Gravity provides a proactive strategic tax reduction plan that is customized specifically for you and your business. Every tax reduction strategy we employ in the Tax Blueprint® is sourced and referenced directly to the IRS Tax Code. Sources of tax savings directly from the IRS Code are highlighted and summarized so you can be confident that the savings are real.
Strategic tax planning and wealth management should work hand-in-hand to yield the best possible results. Lower taxes lead to higher profit which results in greater wealth. We help you use the tax code to work for you, and not against you. When you lower your taxes, you can optimize your profits, and begin to maximize your results. So while it starts with taxes, greater wealth is so much more than that.
Greater wealth means life lived more fully and the chance to leave more legacy for the people and causes that matter most to you. Financial Gravity knows that it’s not what you make that matters, it’s what you keep. Taxes are a big expense, which is why you need to be using the tax code to work for you and not against you, learning to use the tax code to invest in yourself. There are plenty of benefits to strategic tax planning, and we will make sure that you get to enjoy the maximum benefits available through it. Let Financial Gravity show you how to make the most of what you have.
Strategic tax planning starts with a quick free assessment with one of our tax professionals. We know that taxes and finances are complex issues, which is why we are here to help. Contact us today to get your free copy of The New Tax Law book and get started on your wealth building plan!