Your biggest business expenses are not what you think (must read)

I want to share a brief anecdote with you from my recent family vacation to Disney's Aulani resort.

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While standing in line to meet Moana, I took my kids to the souvenir shop. Instead of going for the usual stuffed animals, they were initially drawn to the fancy purses and bags (phew - they came back to the stuffies in the end)

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I texted my wife, saying, "I fear they are moving into their fancy purse era."

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Her response? "They have an eye for details, and details are expensive."

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That got me thinking about the parallel to Nth Degree CPAs. The difference really is in the details - especially when it comes to paying taxes and increasing your net worth.

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Just like those fancy purses, the details of your tax strategy can make a big difference in the long run. Sophisticated investors and big corporations understand this, which is why they have a team of people who pay such close attention to every aspect of their financial planning.

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Here are some details you must pay attention to if you’re a business owner interested in building wealth and minimizing your tax liability.

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Note that the practical steps to implement each of these details will vary depending on your unique situation.

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• Choosing the best-fit entity classification for your business, such as an S-Corp, LLC, or C-Corp. So many small businesses do this willy-nilly in the beginning and it costs them.
  
  
• Creating a correctly-classified holding company for your business or businesses.
  
  
• Creating a family LLC to take advantage of strategies like paying your kids.
  
  
• Appropriately reporting your activity from assets such as rental properties so you’re allowed to use the losses against other income (we once helped 200+ entrepreneurs who were doing this incorrectly in one swoop).
  
  
• Ensuring all filings and paperwork are done correctly to capitalize on strategies like the Augusta rule and cost segregation.
  
  
• Securing all tax credits to which you’re entitled (and yes, all your deductions as well).
  
  
• Executing cash flow engineering to recapture profit that’s often hiding right under your nose, and deploying those funds where they’ll get you a much higher rate of return (ie so many business owners have countless bets in their business that underperform an S&P index fund. ouch! working harder than necessary)
  
  
• Guiding you on how to fund the things you want in life (vacation homes, exotic hobbies, other businesses) with your tax savings.
  
  
• Implementing “home run” strategies that will bring your tax liability down to zero.

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• Implementing a “readiness” algorithm to know when you can take on more risk (or actually take time off).

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You might think that having best-in-class experts manage all of this on your behalf would qualify as “expensive details.”

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But here’s the thing:

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Missing these details is often much more expensive than getting them taken care of for you.

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In fact, I've seen entrepreneurs lose thousands (if not millions) of dollars simply because they didn't pay attention to the intricacies of their tax strategy (or, worse, just assumed it was “handled”).

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They missed out on key deductions, failed to structure their entities properly, or didn't take advantage of advanced strategies that could have saved them a fortune.

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And over time, those missed details added up to a massive drain on their wealth.

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I don’t see anyone else in the world revealing WHY these details are missed 99% of the time; but I’m going to share one major reason right now:

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You, as an entrepreneur, are probably not much of a “detail” person.

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You think big picture, you have the visions, you work to execute on what lights you up and on what you most care about.

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Here’s the thing: I’m like this too.

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I’m as much an entrepreneur as I am a CPA.

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That’s why I know how badly you want to delegate these key financial details to a team that is not just competent, but lethally good at what they do.

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So that you can focus on, work on, and scale up that which lights you up inside.

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And, even if it sounds like bragging, that’s why I’m proud of Nth Degree, the firm I’ve built up for nearly two decades, because we’re best-in-class at helping you accomplish exactly this.

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From the bottom of my heart, and with the whole of my brain, I KNOW with full conviction that entrepreneurs like you, the small business owner doing $1M - $10M/year, deserve the same level of attention to detail that’s historically been reserved for Fortune 500 companies.

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And Nth Degree is one of the only firms in the world who bring this expertise, precision, and passion right to your doorstep and into your business.

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By proactively structuring your entities, leveraging tax court cases, and implementing advanced strategies, we can help you slash your tax rate and keep more of your hard-earned money.

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We do this all day long.

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We’re obsessed with doing this.

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If you'd like to see if you qualify for Nth Degree to handle these details for you, you may book a call with our team.

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Because when it comes to your finances, the difference really is in the details.

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To your success and financial certainty,

Warm regards,

Dan Nicholson

Founder, Nth Degree CPAs
Author of “Rigging the Game”

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