The absolute worst feeling in the world is writing that tax check. (If you're getting a refund it's another story you need to read.)
What if you are paying too much in income taxes?
We share a story of a man I just worked with and the practical tax advice that comes out of that conversation.
If You've Paid Big In Taxes For Years - That's A Red Flag
I just met with a partner recently over lunch. He has owned a business for over a decade. He is doing very well.
But, he's missing a ton of tax sheltering! He and his accountant have missed it for years!
We jumped on a conference call with his accountant and asked why they've ignored these big cost savings?
Her answer? She thought it put them at a higher risk for an audit.
True, but you can't let the fear of an audit make you avoid deductions that are rightfully yours!
He, and maybe you, are giving away thousands of dollars to the IRS that he doesn't need to based on advice from someone who made the decision for him.
He didn't even know what was happening to his hard-earned money.
There are legal ways to move your money out from taxes.
Now, what's your situation?...
Are You Giving Away Too Much on your taxes?
Don't write the check until you're absolutely sure you've really looked at your tax return.
If you are writing a check every year there, it's time to talk to someone about your options and some creative solutions.
I would love to talk practically about your situation. I can give you my advice and even point you to some accountants I respect for confirmation on best plan for savings.