Today’s CPA/Accounting firms need to specialize to stay profitable. They have significant demands on their time for tax compliance, IRS service requirements and requests. This restricts their time available for forward looking planning, for only their best clients, if at all. You need a separate focus, that’s what we provide.
Most people believe their Tax Pro/CPA/Accountant is thinking about tax reduction ideas and would bring them up if they could help but they just don’t have the time, too many demands on their core services. We spend our time thinking, designing, and implementing strategies. We work with you and your tax advisors. Its additive. They are included in the process, but not burdened with it from a time perspective.
That’s good. Clients typically have 2-3 strategies implemented when we meet. We work alongside your current pros, review your current plan, and add to it, make it more effective. It is a collaborative process. No one has all the best ideas.
We don’t want to replace or do what your current tax advisors are now providing. We prefer to collaborate, bring ideas to the table for discussion with them as part of the process.
Most Tax Pros/CPA/Accountants are certainly aware of many of the strategies we suggest, but taking the time to run the numbers, do the research, and manage the implementation requires significant time and focus. What usually happens: ideas are discussed, if at all, and not implemented, and they just sort of die on the vine, get kicked down the road, and life happens, nothing or little gets implemented. Back to status quo. We make sure this does not happen. Its why we exist.
We use a flat fee for service engagement so you know how much up front it will cost. We have a formal engagement letter which lists what we will do and what we will deliver. Typical engagement will result in savings of our fee 2x the first year. $10k fee will = $20k tax savings. Sometimes 3x or more. The tax savings pay for the planning very quickly. Tax reduction = more cash in your pocket (after taxes). That’s our benchmark. After tax cash flow. Average fees $7k-$15k. Depends on the scope and tax savings opportunities we uncover.
Yes. We don’t have a prepared list for distribution to the general public. Each client situation is private and confidential.
It typically does not take long to determine if a tax planning engagement could help. Discovery conversation is a top of the mountain view, covering what you are doing now, when was the last time you implemented a new tax strategy, what are you and your tax advisors doing now, broad overview.
Usually within 15-20 minutes its clear one way or the other. If it's helpful we are happy to talk to your Tax Pro/CPA/Accountant as a follow up with you, assuming we believe we can help you after our short conversation. We do not proceed if we don’t believe we can help you increase after tax cash flow, and lower your taxes.
We do not recommend or implement aggressive strategies that the IRS is watching out for. There are many borderline strategies involving retirement plan/insurance structures, offshore trusts, and a host of “accounting sleight of hand” techniques which are too risky for us to adopt. In fact, sometimes we are the one suggesting client NOT do something they have been considering. We focus on implementing mainstream, commonly used strategies. Most people are not even doing all they can do in this area, we don’t need to reach beyond them.
