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For many CPAs, it feels risky to pick a cross-section of the tax-code, and burrow in. The fear is around losing clients, having to turn people away, and what if there’s a recession?

Consequently, most CPAs work as generalists, and pay the price in the form of seemingly infinite rotations on the treadmill. 

My guest today has built an exemplary business around expertise in one niche, and that person is Tom Wheelwright, CPA.  

Tom is a tax and wealth expert and is the CEO of WealthAbility®. He is the bestselling author of Tax-Free Wealth: How to Build Massive Wealth By Permanently Reducing Your Taxes, and he is releasing his next book this summer titled The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make. 

 His goal is to help people achieve their financial dreams faster by permanently and legally reducing their taxes. 

 

Highlights:

— “I wrote The Win-Win Wealth Strategy to talk about how taxes really work, how incentives really work, and what the government gets out of it.”

— “Tax incentives have just taken off as a way for the government to influence investment behavior.” 

— “Tax incentives are actually investments the government will literally pay you to make.”

— “You subniche to increase your focus and reduce the amount of time that you have to spend doing research, because then you don't have to know about everything.” 

— “One of the challenges we have as CPAs, especially the smaller firms, is we tend to rely on personal, direct oversight as opposed to having systems. The client will get to a point where they're looking for systems help. And this is something where we can provide high value services to them.” 

— “Don't think this is tax avoidance or tax evasion. It's none of that. This is what the government wants you to do.”

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Connect with TOM:

Tom Wheelwright, CPA Website: https://tomwheelwright.com/ 

WealthAbility Website: https://wealthability.com/ 

LinkedIn: https://www.linkedin.com/in/tomwheelwright/

Episode mentions:

178 Killer Niches for CPAs

https://businessstrategyforcpas.com/178

 

Tom’s book: 

The Win-Win Wealth Strategy: 7 Investments The Government Will Pay You To Make

Pre-order: https://winwinwealthstrategy.com/

For multiple copies: https://winwinwealthstrategy.com/bonuses