Tax Season #1–Tax Paying Season
You grab your W-2s and 1099s from the shoebox, give them to your tax preparer, and nervously wait for the news of how much you owe.
You hope you have enough cash to pay the bill and still go on summer vacation.
Every year you owe a little more.
You asked your tax preparer why this keeps happening and they respond, “There’s nothing you can do. You made too much money and that’s a good problem to have.”
Now,
Imagine the relief you would feel if you knew months in advance how much you would owe and had time to prepare for it.
Here’s the solution:
Tax Season #2–Tax Planning Season
Tax planning isn’t a new concept nor is it only reserved for millionaires.
It’s the most underutilized tool to save you thousands of dollars year-over-year. The ROI is crazy.
Why haven’t you heard of it? Most tax preparers don’t have the time to learn something new.
Tax planning is proactive. It’s more than clipping out and mailing the quarterly estimated payment vouchers in your 2023 return.
It’s like having a crystal ball to see exactly how much you will owe next year.
If you don’t like the number, you can develop a strategy to lower it before the end of 2024.
The tax planning I think most people are familiar with is buying a G-wagon to lower your tax bill.
Does that strategy work? Yes, but if you’re trying to build wealth the game is:
Assets > Liabilities
Buying the G-Wagon has a one-time ROI and can create more liabilities if you’re making monthly payments.
Learning how to invest in yourself and your business has unlimited ROI potential. It’s the fastest path to financial freedom and creating generational wealth.
If you’d like to find out how much you could save in taxes this year, let’s talk. Schedule a free call using the link below:
