People ask me what type of firm I have and what do I do and I now say I am a TAX MINIMALIST STRATEGIST! When I tell people I am a CPA they just get a glaze over their eyes like that means nothing to them. That is to say, they know what a CPA is, but that is such a general term and does not describe what I truly do. I wanted to come up with a practice description that briefly defines what Joseph F. Fragnoli, CPA, PC in Nashville, TN is and brings about the next question. What specifically is a tax minimalist strategist.
A tax minimalist strategist is one who analyzes a person and/ or businesses’ tax returns, their financial picture and their financial objectives and designs a plan that is workable within the framework of the client that brings about significant decreases in projected tax liability while meeting financial and personal objectives. I can state with little doubt that the vast majority of business owners and high income individuals and businesses pay more tax than they are required to. Why pay more tax than the law requires! There are tax strategies, investment tools and investment opportunities available that are way under utilized, misunderstood and, quite honestly, are not known by many tax professionals. If you are reading this, the likelihood is that you are paying too much in tax. Not that you think you pay too much tax, you are paying too much in tax. Most business owners do not do proper tax planing and strategizing. Tax planning is far more than tax projecting and then spending money at the end of the year to bring down your profit. That is such a small part of the process. True planning can bring down one’s tax liability, increase one’s invested assets and protect one’s estate. Because good tax planning is complex and is a service that does not come cheap, many taxpayers do not engage in the process. But, it can, and in our case always does, yield a tremendous return on the investment.
You may have spoken with your tax professional about reducing taxes. You may have discussed tax advantage investments with your investment advisor; but, ask yourself, have you really been given a detailed plan or strategy to minimize your taxes. Has the professional detailed the basis for tax reduction and performed an analysis of your tax situation and provided you with a detailed plan. Some of the readers out there have paid for a financial plan and/ or an estate plan. But, have you paid for a tax plan? The savings in your tax plan can fund the objectives sought in your financial plan. Why not fund your retirement, education or other financial objectives with tax savings and thus not having to sacrifice your current standard of living.
At Joseph F. Fragnoli, CPA, PC and Pinnacle Tax Planning Services, Inc. in Nashville, TN, we only charge based on the projected tax savings and we guaranty your satisfaction or we will return the retainer fee. If you are interested in spending about 30 to 45 minutes to discuss specifically what we do and see the difference, please feel free to contact me directly at (615) 678-4751.