Frequently Asked Questions
Q: Why do I need a tax plan?
A: The simple answer is that most of you reading this are overpaying on taxes; with 70,000 pages to the tax law, virtually everyone misses an opportunity somewhere.
Q: What is a tax plan?
A: It's a written strategy, typically at least 40 pages, that outlines your specific strategy for how you intend to use the tax code legally to your advantage. A proper tax plan outlines both the strategy, and the IRC & case precedent behind each strategy.
Q: Doesn't my CPA/Accountant/Financial Advisor already do this?
A: The shortest answer is no. The long answer is that CPAs and Accountants tend to do tax filings, but not tax planning, and most Financial Advisors aren't even allowed to give tax advice.
Additionally; most accountants, including CPAs, while neither incompetent nor negligent, haven't had the specialized training to write out tax plans for real estate pros.
Q: What's the difference between tax filings and tax planning?
A: Tax return filings are just your annual obligation to file a tax return. There is little to no planning around this, typically. Additionally, tax strategy is something that gets written and carried out throughout the year. By the time you're filing your return for a given year, most if not all opportunities to save money are long gone.
Q: What is an "objective based" tax plan?
A: Objective based tax planning takes tax planning a step further for people who work in Real Estate. Most agents, brokers, and investors are typically aiming for one of three goals: accumulate cash, acquire more real estate for rentals or house flips, and paying off debt, usually tax debt.
An objective based plan not only finds the tax opportunities within your business, but plans around using that cash to accomplish your above goals within a defined timeline.
Q: How do I know if I'm overpaying on taxes?
A: Schedule a strategy session with me; I will walk through your situation in detail, and diagnose your potential opportunities. I can almost always give you an accurate estimate of tax savings on the call.
Q: Who are you?
A: I'm a tax planning expert, specialized to write plans for people in Real Estate. I spent 2 and 1/2 years working for a national firm that provided this, amongst other services, to Real Estate and other industries. My experience will speak for itself in the form of more cash in your checking account this year.
A: The simple answer is that most of you reading this are overpaying on taxes; with 70,000 pages to the tax law, virtually everyone misses an opportunity somewhere.
Q: What is a tax plan?
A: It's a written strategy, typically at least 40 pages, that outlines your specific strategy for how you intend to use the tax code legally to your advantage. A proper tax plan outlines both the strategy, and the IRC & case precedent behind each strategy.
Q: Doesn't my CPA/Accountant/Financial Advisor already do this?
A: The shortest answer is no. The long answer is that CPAs and Accountants tend to do tax filings, but not tax planning, and most Financial Advisors aren't even allowed to give tax advice.
Additionally; most accountants, including CPAs, while neither incompetent nor negligent, haven't had the specialized training to write out tax plans for real estate pros.
Q: What's the difference between tax filings and tax planning?
A: Tax return filings are just your annual obligation to file a tax return. There is little to no planning around this, typically. Additionally, tax strategy is something that gets written and carried out throughout the year. By the time you're filing your return for a given year, most if not all opportunities to save money are long gone.
Q: What is an "objective based" tax plan?
A: Objective based tax planning takes tax planning a step further for people who work in Real Estate. Most agents, brokers, and investors are typically aiming for one of three goals: accumulate cash, acquire more real estate for rentals or house flips, and paying off debt, usually tax debt.
An objective based plan not only finds the tax opportunities within your business, but plans around using that cash to accomplish your above goals within a defined timeline.
Q: How do I know if I'm overpaying on taxes?
A: Schedule a strategy session with me; I will walk through your situation in detail, and diagnose your potential opportunities. I can almost always give you an accurate estimate of tax savings on the call.
Q: Who are you?
A: I'm a tax planning expert, specialized to write plans for people in Real Estate. I spent 2 and 1/2 years working for a national firm that provided this, amongst other services, to Real Estate and other industries. My experience will speak for itself in the form of more cash in your checking account this year.
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