ENTREPRENEURS: LEARN HOW TO SAVE THOUSANDS IN TAXES!
The Problem...and the Solution:
As an entrepreneur, when it comes to your accounting and taxes, you're trying to accomplish two objectives:
(a) doing things correctly to avoid issues with the IRS and
(b) saving as much money in taxes as legally possible to avoid overpaying
...and although you’re in pursuit of two very reasonable things, it seems like it's impossible to do so on your own. There are so many questions, such as...
Should I form an LLC, S Corp or be a Sole Proprietor? How do I pay myself? What is reasonable compensation? How do I write off my car? Do I have to pay taxes quarterly now? How do I do that? And we’re just scratching the surface with the questions you have…
Additionally, be honest, how many hours of YouTube videos did you watch trying to find the answers? Any why does the answer always seem to be different depending on which video you watch?
Well, it doesn’t have to be this way. In fact, with the right person teaching you, in a structured, easy-to-understand way, not only will you learn how to do things correctly, but you’ll learn how to implement tax strategies that can save you thousands.
HUGE TAX SEASON SALE!!!
For a limited time, enter your name and e-mail address and I'll send you a coupon code for 67% off to apply upon checkout - that's a savings of over $998, bringing the cost down from $1,497 to just $499!!!
What You'll Learn
Building The Foundation
In these modules, I'll help you build a solid, foundational understanding of taxes and financial accounting. You'll learn things like what taxes is a business responsible for paying, how is a small business taxed, what is the true value of a tax deduction, how does business income get incorporated into your personal taxes and more. I'll also teach you financial accounting, where you'll learn about the income statement and balance sheet, the accounting equation and how a business transaction makes it way into the financial statements of your company.
Learn Powerful Tax Strategies
In this portion of the course, I'll teach you all of the tax strategies that I implement with my very own clients....I don't hold anything back. You'll learn how the S Corporation saves you thousands of dollars in self employment taxes, how to hire your minor children and establish a retirement account for them (at age 7). You'll also learn how to put over $50,000 in a retirement account in a single year for yourself, how to save 15% on health insurance, deduct travel, meals and a lot more.
Implementation
The strategies are worthless if you don't actually implement them. That is why in this module, I'll teach you how to implement the strategies you learned in the Tax Strategies section within QuickBooks. I'll show you how to pay yourself, how to pay your children, how to deduct your home office, auto, internet and cell phone (properly). You also learn how to produce financial statements, reconcile your bank accounts and do the bookkeeping for your business.
It's Time
...time to finally get your questions answered and transform yourself and your business. You'll go from a state of wondering if you're doing things correctly, feeling overwhelmed and overpaying in taxes, to becoming a tax-savvy entrepreneur who confidently implements strategies that saves thousands in taxes each year!
Price Is Only an Issue in the Absence of Value...
...have a look at the value you'll be receiving.
(a) Tax Strategy Education & Implementation (Normally, my firm charges a minimum of $2,500 to perform this for our clients).
(b) The average business saves between $7,625 and $19,912 by implementing all of the strategies provided in this course.
(c) The "cheapest" bookkeeper costs at least $200/month. You'll learn how to perform your own bookkeeping and save $2,400/year!
(d) You'll learn how to form your LLC or S Corp for free, saving you over $600!
(e) Discounts to QuickBooks are provided, saving you an avg. of $105!
By not implementing these strategies, you'll be overpaying in taxes each year. Taking this into consideration, the course will pay for itself many times over.
Watch this Video and I'll Walk You Through the Course Contents
Preview the Course Content:
- Intro to Building The Foundation Part 1 (1:10)
- What Taxes is a Business Subject To? (7:21)
- Tax Comparison: Employee vs. Sole Proprietor vs. S Corporation (16:30)
- Marginal & Effective Tax Rate Calculator and Tax Brackets
- What is a Progressive Tax System? (7:52)
- What is a Marginal Tax Rate? (2:41)
- What is an Effective Tax Rate? (2:12)
- The Value of a Tax Deduction (2:42)
- When To Pay Your Taxes As A Business Owner (2:05)
- Income Tax Returns for Sole Proprietors & S Corporations (6:47)
- Please Read: Section Check In
- Three Phases of Tax Strategies (1:49)
- Intro to The Tax Savings Estimator Tool (5:38)
- Download the Tax Savings Estimator Tool
- Administrative Home Office (12:30)
- Automobile (13:47)
- Cell Phone & Internet (4:38)
- Meals (3:45)
- Travel (6:35)
- Hiring Minor Children (6:16)
- Health Insurance Premiums (6:56)
- Often Missed Deductions (7:56)
- Phase 2: Intro to Tax Classification Optimization (1:03)
- The Difference between Legal Entities & Tax Classifications (12:18)
- Sidebar: When Does an S Corp Make Financial Sense? (8:16)
- Salary Optimization and Payroll Matrix (4:05)
- Access the Payroll Matrix
- Integrating Tax Classification & Salary Optimization into the Tax Savings Tool (12:38)
- Sidebar: Multi Member LLC (MMLLC) (8:46)
- Phase 3: Retirement (13:06)
- How Much Will You Save? (Let me and other students know in the comments.) (3:49)
- Section Check In
- Intro to Building the Foundation Part 2 (2:15)
- Overview of the Financial Statements: P&L and Balance Sheet (15:03)
- The Accounting Equation (15:34)
- The Chart of Accounts (6:47)
- Journal Entries, T Accounts and the Accounting Equation (9:06)
- Putting It All Together (13:32)
- Section Summary (2:15)
- Section Check In
- Intro to Implementation (1:17)
- Forming Your Business Entity (15:43)
- Where to Form Your LLC
- 4 Reasons NOT to be taxed as an S Corp (Give this a read before making the S Corp election for your LLC)
- How and When to Complete a W-9 (5:42)
- QuickBooks Online Discount
- Creating a QuickBooks Online Account (12:34)
- Overview of QuickBooks Online Menus and Settings (12:18)
- Customizing the Chart of Accounts in QuickBooks Online (10:02)
- Linking Your Bank Account to QBO & Capital Accounts Bookkeeping (15:38)
- Transferring Money To and From Business Accounts (6:17)
- Section Check In
- Disclaimer: Tax is Law (1:30)
- Introduction to The Accountable Plan (5:20)
- Home Office, Auto, Cell Phone & Internet via the Accountable Plan (43:20)
- Sidebar: S Corp Home Office (4:59)
- Sidebar: Autos (7:35)
- Meals (8:31)
- Travel (12:45)
- Hiring Children (31:54)
- Healthcare Premiums (4:48)
- Contract Labor (23:17)
- Business Gifts (6:24)
- Whoops! I used the wrong account... (3:19)
- Financial Statements After Recording Expenses (7:27)
- Bookkeeping for Revenue (2:10)
- Financial Statements After Recording Revenue (5:01)
- What is a Reconciliation and How to Reconcile an Account in QuickBooks (8:27)
- Section Check In
- Introduction to Payroll Section (0:51)
- Paying Yourself as a Sole Proprietor (4:54)
- Paying Yourself as an S Corporation (10:47)
- Paystub Walkthrough (8:09)
- Setting Up Payroll in QBO (28:50)
- Accounting for Officer Compensation and Non-Officer Wages (6:23)
- S Corp Owner Health Insurance Tax Savings & Implementation (13:50)
- Bookkeeping for Payroll in QBO (6:53)
- Section Check In
- Introduction to Retirement Section (1:08)
- Questions to Answer Related to Retirement (4:08)
- Your Retirement Vehicle Options (4:08)
- The IRA (4:01)
- The SEP IRA (13:02)
- The Solo 401(k) (19:45)
- Where Deductions Will Appear on Your Tax Returns (4:04)
- Adding Employee Deferral in QuickBooks Payroll (4:18)
- Bookkeeping for Employee Deferral & Associated Liability (4:15)
- Section Check In
Your Instructor
Navi Maraj, CPA
Hey there! I can summarize what I do in one sentence...I teach entrepreneurs how to save thousands of dollars in taxes in a way that's easy-to-understand so that they gain the confidence they are doing things correctly while not overpaying the IRS.
I do this with a superpower I've developed; being able to take difficult concepts and explain them in way that everyone can understand. I've successfully done this for the clients that I work with on a one-on-one basis, thousands of entrepreneurs who watch my content on YouTube, and students within this course...and I can help you too!
I am a Florida native and obtained a Bachelor’s degree in Business Management and a Master’s degree in Accounting from Florida Atlantic University. I worked in the banking and accounting industries for greater than 15 years combined. During my professional career I worked from companies such as Wells Fargo, JPMorgan Chase and Deloitte & Touché. As a business banker, I consulted with businesses that had annual sales of $10MM. As a public accountant, I audited the financial statements of publicly traded companies. I use the skills I acquired in both industries to develop this course and help you save thousands of dollars in taxes.
What People Say About My Teaching Style:
(Note: All items below were unsolicited and only modified to correct grammar.)
"Finally! Someone who explains topics in a short, concise manner yet is clear and easy to understand." - Raul Martinez
"You did an amazing job explaining all of this. I've been looking for this for over a year. Thanks!" - Felicia Haynes
"OMG! Thanks you so much for finally explaining this so we can understand! Heading to watch your other videos now! Thank you, thank you, thank you!" - Kristine Trcka
"Finally someone who can explain things in plain English with illustrations. I've been watching many [other] videos and I finally understand now with the way you explained it" - Johnny F
FAQs
Is this course designed to work for my specific business?
This course is designed to work with any operational, active income business. For example, independent contractors, affiliate marketers, realtors, physicians, e-commerce, retailers, etc. If your business income is earned passively (day-trader, interest income from loans, buy & hold rental real estate), this course may not be a good fit. See the FAQ related to "passive real estate investors" below.
What is the average tax savings achieved by businesses who take this course and implement the strategies?
The average business saves between $7,625 and $19,912 by implementing all of the strategies in this course. The tax savings vary due to how profitable the business is (which affects their marginal tax rate) and if the business profits are subject to state income taxes or not.
Will this course help me if I am a sole proprietor, formed an LLC or if I am being taxed as an S Corporation?
Yes, this course will provide strategies for businesses that are taxed as sole proprietorships or have formed a single member LLC which is taxed as a sole proprietorship or have formed an LLC and are electing to be taxed as an S Corporation.
Will this course be a good fit for me if my business is a Partnership?
I usually recommend that the members (owners) of the partnership form their own individual S Corps and the individual S Corps will be the members (owners) of the Partnership. This concept is discussed in the course. That said, the course does not currently support a Partnership where the partners (or members of an LLC) are individuals.
Would active real estate investors benefit from this course?
Yes, active real estate investors that wholesale or flip properties can benefit from this course. That said, I do not teach bookkeeping specific to flips in this course.
Would passive real estate investors benefit from this course?
Currently, this course does not discuss specific strategies or bookkeeping related to buy & hold rental real estate. That said, you can implement many of the tax saving strategies (home office, auto, hiring children, electronics, etc.) if you are a passive real estate investor.