Blog

August 21, 2017

The Pathway to Financial Freedom

There are Five Phases a business owner must go through to reach the financial freedom they desire: Phase One: Develop consistent cash flow with a highly effective sales & marketing system Phase Two: Put the management tools in place so you can get back in the role of visionary leader Phase Three: Ensure your financial house is in order, you are on top of your numbers and properly managing the company risk Phase Four: Streamline, […]
July 24, 2017

8-Figure Joint Venture Deal

Recently, Sohail Khan just signed an 8-figure deal for his IP.  Over the years, he knew exactly how to build the value and position himself to be worth over $10m to another company. When you are a #MillionDollarCEO and you have a vision…it is possible to create a ton of value in your business. So much value in fact, that another business would gladly pay 8-figures to take over a highly profitable business, rather than […]
July 4, 2017

Battle of the CPAs – would you pay two CPAs to find out who gets a better result?

Battle of the CPAs – would you pay two CPAs to find out who gets a better result? This happened to me. Seriously! I had a client that hired me to do his tax return, but didn’t tell me until I was done that he had also hired another CPA because we wanted to compare the results. (I still chuckle every time I think about it). I’ve never hear of it before – it’s true. […]
July 4, 2017

Which saves you more taxes a C-Corp, S-Corp or LLC?

Which saves you more taxes a C-Corp, S-Corp or LLC? Okay, you should know by now that my answer will have to be ‘it depends’! I wouldn’t be a great CPA if it wasn’t. This is a tricky question because there are many different angles to look at when searching for the pros and cons of choosing the right entity, let alone deciding which is better for taxes. So for this article, I’ll just address […]
July 4, 2017

How I got a $2m tax refund (licensing vs selling your IP rights)

How I got a $2m tax refund by understanding the difference between licensing and selling your IP rights The difference between licensing your IP rights and selling them can make a huge difference when it comes to taxes. When you license your IP, you will typically pay ordinary income tax rates on the royalty income. However, when you sell your IP, it is commonly treated as capital gains…which can have significantly lower tax rates. For […]
June 18, 2017

How CEO-Business Owners must use these 4 Key Drivers to get over the Million Dollar mark, before it’s too late

I get it, not many people like to get deep into number crunching. And you don’t have to. But, as the leader of your company, you do have to be responsible for the numbers, even if you don’t crunch them. The trick is to know your key stats without getting lost in the details. Because you are aiming for the Million Dollar mark, your tracking numbers will be different than getting over the first $100k…and […]