Tax Mapping

Taxes You Pay Will Be Your Largest Expense Over Your Lifetime

If you have the legal right to reduce your taxes according to the laws, then why not take advantage of every legal option to spend your money where you chose instead of allowing the government to make your choice for you

Pro-Active Tax Planning

Tax Planning is not the same as Tax Preparation!

After close to 40 years in practice we have come to the conclusion that our tax community is not prepared for tax planning. Most people who hire an accountant or CPA are under the assumption that they are getting tax planning, where in fact, most are only getting tax preparation... Ken Himmler

  • Steps in Mapping

  • Step 1 - Create a current tax scenario in the Tax Mapping Software

  • Step 2 - Let the AI run thousands of route options

  • Step 3 - Narrow down the route options based on you and your goals

  • Step 4 - Discuss the costs, actions and ongoing maintenance to set up the right Tax Map

  • Step 5 - Put the Tax Map Route you chose in action

  • Step 6 - Set up AI Automation to watch over the route. If you have changes, or the IRS changes then the AI alerts us to consider changing routes.

  • What do you get with a Tax Map

    • A personalized map outlining your options to reduce your tax

    • An assessment of the audit risks for each option

    • An assessment of the costs to implement any actions if any

    • An online account with eMoney to track and monitor your progress

Tax Preparation

  • Collects tax source documents after the tax year has ended.

  • CPAs and Tax Preparers job is to get the right numbers on the right lines on the tax returns

  • Any tax advice is done after the tax year has concluded offering no way to reduce the prior year

Tax Planning

  • Collects past tax returns as well as entering projected tax numbers for the upcoming year

  • Using AI to research over 40,000 IRS codes to determine if you are either missing tax reduction strategies or can restructure for future deductions

  • Monitors revenue, and expenses through the AI to find deductions or changes in the tax code and make immediate deductions

Examples of Tax Mapping AI

Tax Mapping

Step 1 Data Input

It all starts with creating a based line tax projection

  • We gather the last three (3) years tax returns

  • We enter the data into our Tax AI Program

  • If you have Quickbooks or XERO accounting software we connect to the programs and we download live data including P&L, and Balance Sheets, as well as depreciation schedules.

Tax Mapping

Step 2: Business Information

  • Connecting your accounting software allows quick set up of financials

  • We set up ownership and tax methods.

  • **If you don't own an operational business and we are setting up an Asset Protection Plan such as a Family Fortress - we include the various trusts and LLCs in the Tax Plan

Tax Mapping

Step 3 Creating Scenarios

  • Our tax team will create tax scenarios based on your personal situation as well as your business if you own one.

Tax Mapping

Step 4: Let the AI do the calculations

  • Based on the data both quantitative and qualitative, we run the AI to develop the options

Tax Mapping

Step 5: Review Options - DOS

We use a method called D.O.S.

Dangers-Opportunities-Strategies

  • We review each potential option the AI develops to determine

    • What is the audit risk, and how does much does this strategy save you compared the risk

    • We count out certain strategies the AI develops based on our inside expertise on how it might overlap with other areas you are involved with. An example might be that in aggressive real estate acquisition, some banks don't lend to new C Corps or certain types of LLCs.

  • We narrow down the strategies that we feel comfortable in supporting and defending in case of an audit.

  • We review your One Map to assure it fits in with both your personal and your business plan if you own a business. (eMoney)

Tax Mapping

Step 6: Review Meeting With You

  • A review meeting is scheduled for 90 minutes

  • We review all options and go through DOS with you

  • We develop an action plan

    • We assign certain items to us that we can complete

    • We assign certain items to you that you need to complete

  • We schedule regular meetings until all action items are completed

Ongoing Steps

  • We create an automated plan to alert us in the software of any new strategies or ideas that can help you reduce your tax.

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