Below are real-life examples on how our firm improves the entrepreneur's bottom-line.

 

Case $tudy #1: Chiropractor Business-Owner's Wife Had Zero Retirement Savings

Problem

• In 2018, the unemployed-wife of a chiropractor business-owner had no retirement savings.

Goals

• Fund retirements savings for the wife.

Solution

1. Change business entity structure to one that will give the highest allowable tax reductions.
2. Pay wife reasonable compensation as administrator and manager of chiropractor business.
3. Setup 401(k) for the wife.
4. Wife contributes maximum 401(k) elective deferrals.
5. Employer gives largest 401(k) employer contributions.

Results

1. Wife receives annual wages of $12,000.
2. Wife's 401(k) is funded with $14,082 per year, minimum.
3. Wife and chiropractor-husband increases joint retirement savings by $37,500 annually, minimum.

 

Case $tudy #2: Entrepreneur Faced 50.22% Income Tax Bill

Problem

• In 2019, an entrepreneur faced a $200,860 combined Federal and State income tax bill out of $400,000 in gross revenues.

Goals

• Reduce combined income tax bill at a level allowed by Federal and State tax law.

Solution

1. Change business entity structure to one that will give the highest allowable tax reductions.
2. Pay owner-employee a reasonable compensation.
3. Implement a 401(k) for the business owner-employee.
4. Maximize owner-employee 401(k) elective deferrals.
5. Raise 401(k) employer contributions to the largest amount.

Results

• Entrepreneur savings of $72,101 in combined taxes.