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Insider Tactics for Legally Reducing Taxes - Key Insights for a Maximized Financial Future with Dan Nicholson | BWI #87
Episode 87 - Insider Tactics for Legally Reducing Taxes - Key Insights for a Maximized Financial Future with Dan Nicholson
Dan Nicholson shares insights on why CPAs should read the entire tax code, understand clients' risk tolerance, and work with experts to stay compliant. He explains the importance of educating clients about audits, evaluating expenses to optimize returns, and strategies to grow net worth through smart investments, as well as discussing how to apply the Augusta Rule and use advanced tax strategies to legally reduce tax liability.
Key Takeaways:
- Educate clients on all available legal strategies and their potential consequences, allowing them to make informed decisions.
- Regularly review and assess business expenses to eliminate non-core costs and reallocate resources effectively.
- Staying updated with the tax code, IRS audit manuals, court cases, and regulations is crucial for effective tax planning.
Resources:
Dan founded Nth Degree CPAs in Seattle in 2008, aiming to help small business owners optimize their financial strategies through good accounting and tax practices. A Seattle University Summa Cum Laude graduate, he has extensive experience in finance and accounting with top firms and was selected for a prestigious fellowship with the Governmental Accounting Standards Board. Outside of his professional life, Dan is a dedicated family man, active in his local community, and an avid sports fan who has completed three Half-Ironman triathlons.
- https://www.facebook.com/CertaintyUDan
Connect with Jeanne:
I believe that “Anything is Possible” and that people have the genius within them to find and live in their Genius Zone, their ultimate potential, and to live in abundance without burnout and without burning those who surround them.
For more information on Jeanne's coaching programs for coaches and consultants:
- https://jeanneomlor.com/reviews/
For elite coaching for CEOs, celebrities and icons:
- https://jeanneomlor.com/private-label-advisory/
Follow Jeanne on Instagram:
- https://www.instagram.com/jeanneomlor/
View all episodes
By Jeanne OmlorEpisode 87 - Insider Tactics for Legally Reducing Taxes - Key Insights for a Maximized Financial Future with Dan Nicholson
Dan Nicholson shares insights on why CPAs should read the entire tax code, understand clients' risk tolerance, and work with experts to stay compliant. He explains the importance of educating clients about audits, evaluating expenses to optimize returns, and strategies to grow net worth through smart investments, as well as discussing how to apply the Augusta Rule and use advanced tax strategies to legally reduce tax liability.
Key Takeaways:
- Educate clients on all available legal strategies and their potential consequences, allowing them to make informed decisions.
- Regularly review and assess business expenses to eliminate non-core costs and reallocate resources effectively.
- Staying updated with the tax code, IRS audit manuals, court cases, and regulations is crucial for effective tax planning.
Resources:
Dan founded Nth Degree CPAs in Seattle in 2008, aiming to help small business owners optimize their financial strategies through good accounting and tax practices. A Seattle University Summa Cum Laude graduate, he has extensive experience in finance and accounting with top firms and was selected for a prestigious fellowship with the Governmental Accounting Standards Board. Outside of his professional life, Dan is a dedicated family man, active in his local community, and an avid sports fan who has completed three Half-Ironman triathlons.
- https://www.facebook.com/CertaintyUDan
Connect with Jeanne:
I believe that “Anything is Possible” and that people have the genius within them to find and live in their Genius Zone, their ultimate potential, and to live in abundance without burnout and without burning those who surround them.
For more information on Jeanne's coaching programs for coaches and consultants:
- https://jeanneomlor.com/reviews/
For elite coaching for CEOs, celebrities and icons:
- https://jeanneomlor.com/private-label-advisory/
Follow Jeanne on Instagram:
- https://www.instagram.com/jeanneomlor/