My friend just got off the phone with a business owner who had been with his CPA for 23 years.
And this owner had nothing but nice things to say about their CPA, he was ‘great’ and a ‘nice guy’.
But in just a 30-minute conversation, he learned that he was on track to overpay $51,127 this year!
Now, this business owner has been at this income level for the last 15 years.
So if you do the math, $51,127 x 15 years.
That means he had overpaid the IRS an extra $766,905 that he didn’t need to.
I talk with business owners like this EVERY. SINGLE. DAY.
And look, your tax preparer is probably a ‘great person’.
But they aren’t great at tax planning and saving you money.
Your accountant should be reviewing each of these key areas of your business:
- Retirement
- Deductions
- Credits
- Niche-specific strategies
- Tax Cuts & Jobs Act Updates
- OBBB Updates
Think about it, what would your business do with an extra $766,905?
Probably a lot more than the IRS would!!
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