Listen to the Episode Here (11:52)
Earlier this week I had the opportunity to host a Private Training with a friend and partner named Scott Estill, who is a sought-after Speaker, Author and Lawyer specializing in Tax Reduction strategies. He has written several books and until 1995, he was a Senior Trial Attorney with the IRS. But, he left the IRS to help personal and business owners get the “edge” on the IRS by saving thousands on their tax returns. He has sued the IRS over 2500 times and had massive success for his clients.
He doesn’t accept personal clients any more but was willing to do an extensive training to cover some major principles and strategies that I know can help you you personally or with your business. I will link that interview in this, and I think it can help you a bunch…especially with all the recent changes in the tax laws.
But today I wanted to share just a couple of key take aways in hopes it will draw some awareness to the need for thinking more strategically about your taxes.
Most importantly, I want you to realize that Reducing your Taxes is the Safest, Simplest Fastest way to put money in your pocket and increase your wealth.
Here are a few key things to know if you’d like to start saving thousands on your taxes:
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There is a difference between Tax Planning & Tax Preparation.
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Learning to “Think Differently” when it comes to Tax Planning & Preparation is important.
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The Number 1 way to Save money on your taxes is to Start a Business.
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Businesses have far more deductions, benefits, and tax advantages than individuals.
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Don’t let the fear of being Audited keep you from making decisions on how to file your return.
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A very small percentage of People and Businesses get audited and there are certain triggers you can become aware of that increase your risk.
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Asking the Right Questions is more important than getting a Specific Answer to a Tax Question.
I would encourage you to click on the link included in this to listen to the details, questions and responses that Scott covers in our interview. I’ll also try to link in a few other discussions he has done on taxes including the changes to the 2019 Tax Laws and how it will affect you personally.
But, I really want to emphasize the importance of spending time and developing strategies to make better decisions around your personal and business taxes. When you are strategic about your taxes, you can significantly increase your chances of building wealth. And, most importantly, you can put a bunch of money back in your pockets.
I want to also encourage you to attend one of our 3-day Asset Protection and Wealth Summits that I do 4 times per year across the country. You can find information on my website. I will always allow the Daily Mastermind Community to attend this event for free. Its a $997 value and I know it will help you Protect Your Assets, Reduce Your Taxes, and Finalize any Estate Planning needs you have, so take advantage of it if you can.
One final thought, please try to include your Wealth and Estate planning into your Daily Rituals. What you focus on grows and you cannot build true wealth unless you think about it more often.
Have a great day and remember…
It’s never too late to start living the life you were meant to live.
George Wright III
