I find that most business owners don't enjoy spending hours reading the tax law. But I do!!
One of the ways I want my clients to leverage me as a resource is to share my knowledge with them so they don't have to do it themselves. This includes providing them with answers to questions they didn't even know to ask.
At least once a week I am asked the question, "What type of entity should I form for my business?"
With a few follow up questions, most tax advisors will answer this question and the client will be happy with the answer.
Then what usually happens is the client starts to learn more things as they progress in their business. These may be things they should have been doing or should not have been doing, but they are all things they wished they would have known sooner.
This is why I don't just answer the specific question at hand; I anticipate what the client doesn't know to ask. I have tremendous experience in the long-term implications of a tax strategy, which includes forming an entity, and I want to share my knowledge and experience with my clients so my clients can avoid common mistakes (that sometimes can set their business or investing back by years).
Even though the client has come to me with one specific question, I typically find myself asking the client many more questions that cover bookkeeping, tracking expenses, business or investing operations, additional goals they have, estate planning and exit strategy (to name a few).
Eventually most people learn these details, but usually it is not until they are at a point where they wish they had known about them sooner. This goes back to that question I hear when talking to prospects - "Why didn't my accountant tell me that?"
If your current accountant or tax advisor has not brought you any tax saving ideas, contact us TODAY! I will review your last three years tax returns looking for mistakes and missed opportunities that may be costing you thousands of dollars in taxes.
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