When a Client’s Problem Becomes a Tax Pro’s Power Move 💼📈

From Angie Toney, CPA/PFS, CTS

Hey there, Executive!

Let me walk you through a scenario I see far too often - and one I want you to be fully equipped to handle (and master).

📌 The Case of the Overlooked Construction CEO

Meet Lisa, a construction business owner with $1.5M in annual revenue and no formal tax plan in place. Her previous tax pro simply filed compliance returns each year, never asking about how her business was structured or how her compensation was handled.

The result?

She was paying over $150K in taxes annually, and never understood why. Her biggest mistake: she was stuck in Schedule C status, despite having W-2 employees and commercial contracts. She had the income of a C-Corp, but was taxed like a sole prop.

🎯 The Turning Point: A Tax Pro Who Knew What to Ask

One of our Executive Touch community members, whom I’ll call Mike, met Lisa at a networking lunch. Mike asked just one key question:

This led to a deeper dive, and what unfolded was a blueprint for restructuring.

Mike recommended:

• A C-Corp restructuring with executive comp strategies.

• A Defined Benefit Plan to stash $120K per year toward Lisa’s retirement.

• An Accountable Plan to reimburse home office use and vehicle expenses.

• The use of QBI optimization techniques on her old passthrough income.

By the next tax season, Lisa's effective tax rate dropped from 37% to under 20%. Not because of a loophole, but because of proper implementation.

What's in The Executive Touch This Week?

✅ Power Hours You Don’t Want to Miss

Wednesday at 2PM CST:
→ Tax Representation Power Hour
Friday at 2:30PM CST:
→ Tax Planning Power Hour

🔔 Third Thursday Boardroom Call (Every Month):
→ This month's session will happen on the 19th!

⏰ Next Call: June 19, 2025! Reply to this email for the details.

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Also, here’s a hint to our upcoming retreat/get-together - details incoming soon so stay tuned! 📫🏖️🌤️🏝️

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With you in mind, always.
Whether you're cleaning up compliance messes or ready to work with 7-figure clients, know this:

You’re not meant to “figure it all out” alone. And honestly—you don’t have to.

Here’s to implementing boldly and building the tax practice you deserve.

Wednesday well wishes,
Angie Toney
Your Tax Strategy Mentor

^_Disclaimer

^{_{The content shared in this newsletter, including any strategies, tax scenarios, or business insights, is intended purely for educational and informational purposes and should not be taken as personalized professional advice. Examples discussed are illustrative in nature and not guarantees of any specific tax outcome or business result. Your results may differ based on your unique circumstances, efforts, and changing external factors.}}

^{_{Remember, tax and business decisions are highly individual and influenced by many factors such as evolving regulations, personal expertise, and market conditions. We encourage you to seek advice from qualified tax and financial professionals before making significant decisions that could impact your business or finances.}}