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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.

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)

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

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

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.

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.

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

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

  • 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.

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

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

But here’s the thing:

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

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”).

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.

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

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:

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

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

Here’s the thing: I’m like this too.

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

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.

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

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.

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.

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.

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.

We do this all day long.

We’re obsessed with doing this.

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.

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

To your success and financial certainty,


Warm regards,

Dan Nicholson

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

Dan Nicholson headshot
Dan Nicholson CPA, CGMA

Dan Nicholson is the author of “Rigging the Game: How to Achieve Financial Certainty, Navigate Risk and Make Money on Your Own Terms,” deemed a best-seller by USA Today and The Wall Street Journal.

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