The biggest expense for business owners is taxes, not payroll. Taxes include federal income tax, state income tax, sales tax, property tax, fuel tax, and even taxes upon death.
Meeting frequency indicates whether your CPA is proactive in tax strategy. A CPA focused on tax reduction should meet with clients at least quarterly, driving the conversation and ensuring updated financials are reviewed regularly.
A proactive CPA can help clients save at least 25-30% in taxes annually, with potential for even greater savings depending on the strategies implemented.
A CPA should provide a detailed report showing specific tax savings, strategies implemented, and IRS tax codes or court cases supporting their methods. This demonstrates their ability to legally and effectively reduce taxes.
Tax strategies can range from beginner-level deductions to advanced, niche-specific methods like real estate strategies or wealth accumulation plans. A CPA should be able to provide clear examples of strategies they’ve used for other clients.
Business owners should ask their CPA specific questions, such as meeting frequency, average tax savings, and examples of implemented strategies. If the CPA cannot provide clear answers or proactive guidance, they may not be effectively reducing taxes.
Have you been told that payroll is your biggest expense as a business owner? Think again! In this episode, we uncover the real budget-buster: taxes. From income tax to property tax (and even taxes when you die), they add up fast. But here's the good news—reducing your tax bill is possible with the right strategies and professionals on your side.
We’ll explore three key questions to ask your CPA to know if they’re truly helping you save or playing for the IRS. Plus, learn how to spot missed opportunities to keep more money in your pocket. If you’re ready to take control of your finances and make 2025 your best year yet, this episode is a must-listen.
Don’t leave money on the table—tune in now and get the tools you need to start saving!
Next Steps:
💰Download: The Ultimate Guide to Reducing Taxes )💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call) to find out!
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