Hey friends! I want you to hear what a professional in the financial services person thinks about our programs!
“I just wanted to shoot you off a quick note to say thank you for your guidance. Your coaching has opened my eyes to a world of opportunities. It’s amazing that after being a CPA for over 25 years, I was not aware of so many the tax saving strategies. Your coaching has helped personally as well as with my business. I couldn’t have done it without you. Thanks again.”
– Lynne H, CPA
Tax planning for doctors is all too often put at the end of the long list of to do’s for fast-moving professionals. Part of any physician’s wealth building strategy needs to include personal advisors, wealth coaches, and industry specific legal and financial experts. I believe it is very important to learn all you can about wealth building strategies but that doesn’t mean you have to know everything and do everything yourself.
Nobody becomes wealthy without a team effort. Athletes don’t get to the Olympics without a great coach, students don’t graduate from medical school without great professors, bosses can’t do their job without great assistants and people don’t become wealthy without a wealth team.
Raymond Aaron, founder of “The Monthly Mentor” once said, “If you don’t have an assistant, you are one.”
Tax Planning for Doctors – in 30 Seconds?
High net worth tax planning is not exclusive to doctors and it is not something you should do on your own. Financial advice for doctors shouldn’t come from the 30-second money making tips on tonight’s nightly news. So, whether you are a doctor, dentist or any other professional too busy to slow down and plan, ask yourself, these three questions:
Who is on my wealth team and how qualified are they?
Who should I be removing from and/or adding to my wealth team?
What can I do today to improve this team?
Have clear goals that they all understand
Have regularly scheduled communications with clear agendas
Make sure expectations of performance and measures are crystal clear
If you are fortunate enough to be generating significant income but realize that you are paying way too much in taxes maybe this is the time to enhance your financial team with a wealth coach and a team of advisors to help you find legitimate business tax write offs and new ways to keep more of your hard earned cash in your pocket.
And finally, here’s a few words from one of my wealth coaching clients…
“I just wanted to shoot you off a quick note to say thank you for your guidance. Your coaching has opened my eyes to a world of opportunities. It’s amazing that after being a CPA for over 25 years, I was not aware of so many the tax saving strategies. Your coaching has helped personally as well as with my business. I couldn’t have done it without you. Thanks again.”
– Lynne H, CPA
Have a prosperous day!
Gabby Huguenin
Wealth Coach
208-263-7202
P.S. If tax planning techniques bore you or intimidate you and small business tax deductions just aren’t your thing, then maybe it’s time to expand your wealth team. I’ve saved my clients nearly 14 million dollars in tax dollars in recent years. Feel free to give me a call!
Here are a few more wealth building tips from my Connector Coaching call with Jim Britt!
“How may I help you?”
Jim agreed with me that to build wealth in today’s economy, it’s a good idea to have a job to keep some form of revenue coming in while you look for ways to start your own business or leverage your money in tax advantaged ways. Here are a few more highlights I’ve paraphrased from that Connector Coaching call interview with the very wealthy and very kind Jim Britt!
When starting your business, don’t start desperate. Desperate people push investors away
If the business plan says something about catching up on the pickup payments nobody will (nor should they) invest
Opportunity stays far away from desperation
Start your business to focus on giving others value not on all the money you are going to make. See things from the eyes of your customers. You’ll sleep better and you’ll ultimately make more money. If you focus on value, the money comes to you
Network marketing is a way to start a business with little or no overhead. For around $500 there are tons of great businesses you can start. Choose a solid company with good people and a product that is leading the market. Something that is hot and cutting edge is best. Look for a category creator.
Jim made hundreds of thousands from numerous network marketing companies and still gets residual checks many years later without much effort
Most powerful thing you can do in business… build a network. Keep track of people, offer to help people. Be a resource to people and genuinely try to help others. That’s how you build a network of resources, allies, and friends. Your network is not just for raising money. Always be asking… “How may I help you?”
Be responsible. Take responsibility for your life. The good, the bad, the ugly. Then do something about it. Don’t dwell on the past, just learn from it and move forward.
Finally, I asked Jim what he believed was the reason for Jim Britt’s success. He said it was this… “I always try to be the best I can be, notice I did not say to be the BEST but to be the best I can be. Not better than others, just better than I was the last time.”
A wise friend just told me yet again “Gabby, just focus on the cash.”
Specifically she said: have the systems in place for the cash to continue to come in and it will continue to do so.
Oh, and one other big point – Go after the one that will bring in a stream of consistent cash now.
Being that I am a master of certain systems, you the readers here in this scenario can actually gain something of value here so let’s cut to the chase:
What is a way to redeem and recoup cash right now that you can delegate to a Wealth Team advisor / member?
Let us Axe The Tax!
I heard that today is the biggest shopping day of the year.
(Well supposed to be the largest shopping day of the year.)
If the IRS isn’t one of the stops when shopping online or out at a “real” place that you’d like to be swiping your debit card, or spending your vat of cash with, than rally your ear, dear one. What does this mean? Well, we don’t have to totally bore you with detail down to the code, but you do need someone on your Wealth Team who does have that code in their humble abode, so you don’t get snowed!
There are some major potential tax savings questions we could ask over a cup of cocoa
Do you have the right record keeping systems in place?
Are they current accurate systems?
Do you know your numbers?
Do you the right tax planning / bookkeeping / CPA in place?
Do you have the right entity structures in place?
Do you have a current profit and loss statement for each business you have in place?
The answers to the above questions can make for a great new year.
When you have the right record keeping systems in place, they are current, accurate and you know your numbers, you can have your bookkeeping staff educated ** with the information on how your CPA wants information plugged in your profit and loss statement and pulled to send to them, and the documentation you are going to need to support your tax deductions for the year. Typically you get the major logistics of this set up the first year and then annually review and update.
**Educated note above: Each time you take time to educate staff on something that is repetitive that may need to be explained to over and over again in case of turn over etc… do a procedures manual in audio and written format, it’s a pain the first time but a life saver over the long run – 208-263-7202 ask about the procedures manual Connector Call.
It meant the difference between a 28% + tax bracket and an average less than 15% for our students.
THIS CAN BE YOU
THIS SHOULD BE YOU
Give yourself a Christmas Bonus Come Early
That lucky 13% average difference that is recouped and back in your pocket can be used for many other exciting things to be explored next time…
Remember! Let’s legally axe the tax and the Team Work Makes the Dream Work – Over and out.
Gabby Huguenin lives what she coaches. High impact, & high energy; Gabby is laser focused on assisting individuals and businesses to RECAPTURE income that would normally flow to income tax, while building, sustaining, and succeeding a business plan into Legacy Wealth Building
Gabby is personally mentored by multi-millionaires, and has access to billionaire advice. The slogan in her house and business is ‘the team work makes the dream work’.
She currently leads and owns several companies in the USA and has international business developments. She is a mother of two and married.
Gabby & Timothy McGilberry, CPA starting separately with Gabby in 2003 – 2008 and then 2008 until now with Mr. McGilberry, saved clients an excess of 14 million in taxable income legally with 1:1 proven coaching tactics.
She assists her clients in building, sustaining, and protecting wealth for legacy impact.
Her job is to keep you safe when it comes to tax, asset protection, and wealth building.
She will give you everything she has got and then some to make sure that you succeed within the parameters that are set.
Gabby grew up in a family business that had an excess of one hundred million in assets. She worked in the family business from a young age. Gabby started her first business at age 17 upon graduation from high school she went straight into business. She has built several revenue streams in her 20’s and became an accredited investor at age 28. This was all with the help of a great team and a supportive family and spouse.
She is the founder of Legacy Wealth Building, LLC formerly known as Wealth Classes Coaching, LLC which built upon her ability to save students money, time, and protect their assets while pursuing and securing their revenue streams.
Gabby is currently revamping the mastermind process of her coaching to feed into a world know, strong, growing community
Gabby is constantly uncomfortable – growing and stretching and doing what she calls the guinea pig approach, she will try it first and then let her success or failure be a guidepost for others to follow or avoid!
Gabby’s life mission is to remain healthy enough and time rich enough to continue to assist as many businesses and individuals as possible into the Legacy they wish to lead, live, and leave for their families, charities, and family to come!
Timothy McGilberry
Timothy McGilberry graduated cum laude from Lincoln University in Pennsylvania with a B.S. in accounting. He is a certified public accountant (CPA) with a verifiable record of success. He has twenty-seven years with highly developed interpersonal, time management, and communication skills. He is dedicated and hands-on leader, with motivational management and team building skills.
Tim has expertise in finance, auditing, accounting, marketing and sales, increasing client base and financial assets. Areas of expertise include tax preparation for individuals, sole proprietors, small businesses, corporations and non-profits. Management expertise includes general accounting, budgeting, payroll, treasury and other functions.
Tim’s ability has helped organizations secure compliance, improve organizational communication, and achieve corporate goals.
Tim has been recognized in Strathmore’s Who’s Who, Notable American Men, Who’s Who in Government and Outstanding Young Men of America. Furthermore, he is a Dale Carnegie graduate.
Tim has been married to Rhonda for 23 years and has four kids; Timothy, Titus, Thomas and Tobias. He also enjoys singing, coaching basketball, and mentoring young people.
For over four years, Tim has been coaching high end clients and changing student’s lives.
Tim is the CFO of Legacy Wealth Building, LLC and a share holder in the other companies they relate to.
For a strategy session contact us at 208-263-7202.
Hey Doctors! Thanks for the calls this weekend on my post about tax planning high income solutions for the medical professional. Asset protection for clinics, hospitals, and doctors is a very hot topic right now. Any tax planning needs to include a strategy for protecting your assets from those pocketbook preditors!
Have a healthy and wealthy day!
Gabby Huguenin
Wealth Coach
208-263-7202
P.S. If you’re facing some tax challenges, cash flow issues, or need solid asset protection strategies give me a call! We have a number of powerful wealth building programs to help you in the process of building financial freedom.
My friend Lance Hood is putting together a large group of authors, speakers, and experts on everything related to creating wealth for a FREE online teleclass series. He asked me to produce a quick video overview of what I will be speaking on. After I finished the video for his promotional purposes I took the same wealth building ideas I talked about in that video and put them into this Podcast.
There are seven tax-saving, money making ideas in this Podcast and you’ll even find ways to put your little ones on the payroll. In 2009 you can pay your children $5,700. That’s one way to shift some income and lower your tax liability. Of course, I’m speaking in general terms so always check with your tax professional regarding your unique situation.
With 65% of you money flying out of your pocket in taxes and interest you need to learn to use dividend paying life insurance policies to create a tax advantaged environment. If you want to begin building lifelong wealth two of the most powerful tools to do so are real estate and specific types of insurance policies. The cash surrender value in the right type of policy is fundamental to the structure of the banking system that we teach our clients to set up. Check out this Podcast to hear seven wealth building ideas so you can start creating your own wealth building program.
Have a prosperous day!
Gabby Huguenin
Wealth Coach
By the way, if you are facing some tax challenges, cash flow issues, or need a solid asset protection strategy, there is no charge to give me a call!
