Tax News For Business Owners
If You Own A 6 Or 7+ Figure Business, Don’t Make These 3 Tax Mistakes! 
 Last Updated December 16th, 2021           Read Time: 8 min
Has a huge tax bill ever caught you completely unexpected, and even if a CPA saved you thousands - you still feel like the IRS is squeezing you dry each quarter?

Or worse, maybe you’re (secretly) cringing every time your business makes more money because you don’t want to face another huge tax bill? 

This scenario is more common than you might think, especially among today's successful business owners making between $250,000 - $9,000,000 a year. 

Unfortunately - being an expert at complicated tax strategy and the detailed day to day work of “accounting” isn't the same skill as being an entrepreneur.

Even as you're building something that can give you freedom, if you're like many, you probably find financial uncertainty and massive tax bills holding you back. 

If you keep overpaying on your taxes and staying vague with your finances, and the years of stress, overwhelm and never reaching true financial freedom are very likely to follow.

There are several key reasons that business owners often end up paying way too much in taxes and feeling constantly stressed financially. Yet there's no reason any business owner needs to go through the pain, overwhelm and stress of paying too much in taxes and being bogged down by financial detailed work. 

If you can learn to identify the mistakes you're making, you can save thousands in taxes each quarter, and fold those savings right back into growing your business and wealth. All while having complete financial peace of mind!

We're going to show you how, starting with three common mistakes that leave you unnecessarily donating your hard earned cash to the IRS quarter after quarter and stalling out your long term business growth and wealth. 

MISTAKE 1: NOT GETTING THE SUPPORT YOU ACTUALLY NEED.

Funny enough, most business owners are too focused on getting only one kind of tax support because they don’t know any better. The CPA.

And while a CPA is a great resource for an employee and employee tax strategies, once you start earning more than $250,000 a year in your business, the truth is you’ll need a different kind of support to get the best tax savings. Why? Because a CPA is limited in what they are able to do for business owners. 
In short, they take what you have in place, and react to it. Which is completely different from forming what we call a “pro-active” long term tax strategy based upon your unique goals and business model. 

Now, you might be wondering, is having a pro-active tax strategy more expensive than a CPA? 

And the answer is maybe. 
Yes, you get way more hands on support and expertise with a pro-active strategy. 

But thankfully, this also means the amount of taxes you save far outweighs the additional expense. 

Which is why the wealthy consider it a no brainer…while those who struggle to get ahead financially year after year just keep using their CPA.

Which leads us to the next critical mistake most business owners make…


MISTAKE 2: NOT STREAMLINING YOUR TAX STRATEGIES. 

Because most people just trust and do what their reactionary CPA tells them - they miss out on the accruing power of having a streamlined tax strategy that builds exponentially year after year. 

There are 4 critical areas that good proactive tax strategy considers. 

>  Business Structure
>  Money Movement Mechanics
>  Hidden Tax Profit Pools
>  Wealth Generation 

Most business owners get some minimal advice from their CPA in all these areas, (if they have an amazing one). But the truth is, a CPA isn’t an expert in any of these areas!

Here is why. Each of these areas build on each other, and if the strategies aren’t right in the first area, they snowball and massively impact your tax savings in all the other areas. So let’s look at each one of them briefly. 

The first strategy is your Business Structure. While some CPA’s will make slight recommendations, true expertise in building out smart business structures can make a massive difference in your financial story and the security you have in place for your tax strategy and wealth growth. Not having the right structures in place is likely causing you to pay thousands in unnecessary taxes each quarter - especially if your business is doing more than 7 figures. 

The next area is Money Movement Mechanics. Once you have the right structures in place, then how money flows through your business structures is critical in keeping more of your dollars to grow your wealth instead of paying them out in taxes. This is one reason why the Pay Less Taxes Firm includes bookkeeping and other if needed services (like payroll) with all their tax support. Because HOW money movement happens, and tracking it quickly, is critical in optimizing the most tax savings and wealth growth potential. Besides, you’re much too busy growing and running your business to be worrying about detailed things like money movement personally. 

Hidden Tax Profit Pools. Once the structure and money movement is sorted - then you’ll be optimally positioned to locate the unique and specific tax codes that are hidden inside the tax code specifically to benefit business owners who know how to leverage the right strategies. Did you know, for example…. Or…for example….? 

Wealth Generation. Now everything comes together. And this is where so many business owners drop the ball. They forget the strategies that allow them to keep and grow more of their wealth! Some of the most important things you can do is leverage your tax savings for your future wealth.
Consider two business owners. Mr A. knows about proactive tax strategies and uses them - and Mr B. just follows the advice of his CPA who happened to save Mr B. a few thousand more than his last CPA several years ago. 

There is no difference between Mr A. and Mr B. - except Mr A. is able to save and reinvest $20,000 more into his business each year than Mr B. because of his tax strategies, while Mr B. cluelessly pays that $20,000 to the IRS for his taxes because his CPA tells him he has too. 

As you can imagine, over time Mr. A’s extra investments into his business start to pay off, helping Mr A. make even larger profits and grow his business and wealth. 

As a result, in ten years - Mr A. is sitting on a business valued at 20 million dollars. While Mr. B is still stressed, trying to run a 2 million dollar business. 

It seems simple, but this isn’t just an imagined scenario. These are like the clients we see everyday. 

And we have to ask - which would you rather be? Because they choice is truly yours once you know how to stop making the same mistakes Mr B. made for 10 years of business. 

When you have a single service in place that can streamline long term tax strategy: Business Structure, Money Movement, Tax Profit Pools and Wealth Growth…and take all the busy work off your plate every step of the way…then your entire financial ship is rowing in the right direction and your financial future is much more predictable, secure, and wealthy. 

(Plus you stop paying thousands in taxes than you shouldn’t be paying!). 


MISTAKE 3: WAITING FOR A BETTER TIME TO GET YOUR FINANCIAL SHIP IN ORDER.

This excuse is as old as humanity, and is used all the time to avoid all sorts of risks and challenges. We tell ourselves we'll tackle some long-standing problem when our work life settles down, when we have a bit more money and can afford to step back, when there aren't twenty other things clamoring for our attention.

With taxes and accounting, as with most situations, postponing too long means losing your momentum all together. 

It’s not at all uncommon for the difference in doing a tax strategy in December instead of a week later in January could be the difference of pocketing another 10,000... 20,000... or even 30,000!$! dollars - or sending it to the IRS.  

Imagine if you had waited for the perfect time to launch your business in the first place. You'd still be working for someone else right this very minute, because there would always be a reason that now isn't the right time. You recognized this, and you decided now was always the right time to take your business and professional life into your own hands.

Your financial health and how you deal with the number one expense of your business (taxes) isn’t any less important than you starting your business, and if you wait for the "right time" to start fixing your financial ship and unnecessary tax burden - you’ll find yourself spinning your business tires year after year in search of the elusive financial freedom. 

You can start making changes today that can affect the course of your financial future, your peace of mind, and your wealth for the rest of your life. If you've been struggling to keep from paying an arm and a leg in taxes. Or if you’ve been avoiding your financial books or sales growth because your tax or financial situation is too anxiety inducing. Or if you find yourself disconnected from your finances and just trusting whatever your CPA says, then now is the right time to do something about it.

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Consider two business owners. Mr A. knows about proactive tax strategies and uses them - and Mr B. just follows the advice of his CPA who happened to save Mr B. a few thousand more than his last CPA several years ago. 

There is no difference between Mr A. and Mr B. - except Mr A. is able to save and reinvest $20,000 more into his business each year than Mr B. because of his tax strategies, while Mr B. cluelessly pays that $20,000 to the IRS for his taxes because his CPA tells him he has too. 

As you can imagine, over time Mr. A’s extra investments into his business start to pay off, helping Mr A. make even larger profits and grow his business and wealth. 

As a result, in ten years - Mr A. is sitting on a business valued at 20 million dollars. While Mr. B is still stressed, trying to run a 2 million dollar business. 

It seems simple, but this isn’t just an imagined scenario. These are like the clients we see everyday. 

And we have to ask - which would you rather be? Because they choice is truly yours once you know how to stop making the same mistakes Mr B. made for 10 years of business. 

When you have a single service in place that can streamline long term tax strategy: Business Structure, Money Movement, Tax Profit Pools and Wealth Growth…and take all the busy work off your plate every step of the way…then your entire financial ship is rowing in the right direction and your financial future is much more predictable, secure, and wealthy. 

(Plus you stop paying thousands in taxes than you shouldn’t be paying!). 


MISTAKE 3: WAITING FOR A BETTER TIME TO GET YOUR FINANCIAL SHIP IN ORDER.

This excuse is as old as humanity, and is used all the time to avoid all sorts of risks and challenges. We tell ourselves we'll tackle some long-standing problem when our work life settles down, when we have a bit more money and can afford to step back, when there aren't twenty other things clamoring for our attention.

With taxes and accounting, as with most situations, postponing too long means losing your momentum all together. 

It’s not at all uncommon for the difference in doing a tax strategy in December instead of a week later in January could be the difference of pocketing another 10,000 20,000 or even 30,000 dollars - or sending it to the IRS.  

Imagine if you had waited for the perfect time to launch your business in the first place. You'd still be working for someone else right this very minute, because there would always be a reason that now isn't the right time. You recognized this, and you decided now was always the right time to take your business and professional life into your own hands.

Your financial health and how you deal with the number one expense of your business (taxes) isn’t any less important than you starting your business, and if you wait for the "right time" to start fixing your financial ship and unnecessary tax burden - you’ll find yourself spinning your business tires year after year in search of the elusive financial freedom. 

You can start making changes today that can affect the course of your financial future, your peace of mind, and your wealth for the rest of your life. If you've been struggling to keep from paying an arm and a leg in taxes. Or if you’ve been avoiding your financial books or sales growth because your tax or financial situation is too anxiety inducing. Or if you find yourself disconnected from your finances and just trusting whatever your CPA says, then now is the right time to do something about it.

You were brave enough to take the leap with your business, and you know how substantial the rewards can be when you're willing to gather the information you need and put in the work that's required. You deserve the same in your taxes and financial strategy and you can have it while spending less time and energy on it than you currently do.

All you need to do is act and get the right plan and team behind you.

The Pay Less Taxes Strategy and Support package is exclusively for business owners experiencing problems just like yours. We will give you the support, strategy, and team you need to transform your financial ship into a tax saving and wealth generating vehicle that gets you to your dreams faster and more effectively. Your problems are solvable, your taxes can be drastically reduced, and there are way better wealth strategies for you…if you're willing to get the right support. 

Pay Less Taxes firm is an elite tax service that includes Daily Bookkeeping, Payroll (if needed), all tax filings, and quarterly wealth meetings with custom built tax strategies for your exact business. 

We cover all 4 areas of strategy, including: 
> Business Structure
> Money Movement Mechanics 
> Hidden Tax Profit Pools
> Wealth Generation 

We guarantee our service will: 
Save you more in taxes than your past tax and CPA bills combined.  
Save you more in taxes than what we charge. 

We only work with business owners we know we can make a significant difference for, so qualified business owners get a free strategy call sessions to diagnose their unique situation and form a unique strategy catered to their exact business. 

There are limited spots available for these free strategy sessions, and we’re only taking on another 10 clients this month. Book your FREE strategy call immediately here to take the first step in putting your financial ship in complete order - and start taking back the taxes you shouldn’t have to be paying. 


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