What Elon Musk does on tax day (IRS look away)

An all-too-common tale for business owners in the $1M - $10M range this time of year is…

You have to pay six figures in taxes and you’re not happy about it.

That ever happen to you?

I get how that can be frustrating. Even though it’s a sign you had a good revenue year, no one wants to cut a $200k check and watch that money just evaporate out of their bank account.

Especially while you have billionaires like Elon Musk sitting pretty building rocket ships without a care in the world about taxes.

But here’s the thing…

It’s not the billionaire status that makes tax day a non-event for Elon…

It’s not actually Elon at all. He doesn’t worry about those kinds of things because he’s got a team of elite CPAs who know how to navigate the complex world of taxes with their eyes closed.

So he’s not worrying about proactive tax planning or strategic financial moves…

He’s spending his time doing the things that keep his business innovative and exciting.

And guess what.

That’s what Nth clients are doing right now too.

Sitting pretty. Building their dreams. No rushing to file an extension. No surprise that drains their bank account.

If you and your accountant don’t know what your tax situation is going to be every calendar day of the year, something is hugely wrong.

To make sure your financials are being properly taken care of, ask your accountant the following:

• What is your current process to protect us against a future audit?
• How are you leveraging the newest tax laws and loopholes to minimize our tax liability? (In fact, ask them what ARE the newest tax laws and loopholes in 2024)
• What strategies are you implementing to ensure our financial systems and processes are automated for maximum efficiency and profitability?

(If they can’t answer those questions right away… it may be time to have another type of conversation.)

And if you’re ready to forget tax day even exists because you’ve got it covered 365 days of the year, you may consider scheduling a call with the Nth Degree CPA team. We’ll show you exactly how (UN)Conventional accounting helps you keep more of your hard-earned money in your pocket all year long.

Here's to your success and financial certainty,

Warm regards,

Dan Nicholson
Founder, Nth Degree CPAs
Author of "Rigging the Game"

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