Client Success Stories

View our success stories below to see how we have helped our clients save massive amounts of money on taxes using the best income tax saving strategies available.  Many of our strategies are so outside the box that no one would ever think of them.  

Uncovering Hidden Tax Benefits And Saving Massive Tax Dollars

In 2 separate cases, we helped individuals uncover and recover huge amounts of wasted tax benefits, saving truly massive amounts of tax dollars.

Surprisingly enough, for some, it is easy to forget about and lose critical tax benefits when switching tax advisors.  In our first case, we helped recover nearly $150,000 in accumulated past tax benefits that were simply thrown away by other advisors who were not looking in the right places.

In our second case, we used the same process to discover roughly $110,000 in cumulative tax savings.

Both of these have been some of our largest wins to date, and we continue to see tax savings figures from our efforts increase significantly over the past few years.  

Is Your Advisor Working For You?  What If You Are Missing $20,000 Per Year?

Often times, we have seen advisors attempt to do things they should not to benefit their clients.  Examples of this are CPA's acting as asset managers and financial advisors acting as tax consultants.

The marketing from these advisors is very good, and they often charge very low fees for their services.  However, we have seen the potential to lose large amounts of money such that it would be impossible to ever be made whole again from losing that kind of money.

Our case here involves an individual who overpaid past taxes by roughly $20,000 per year by using a low fee financial advisor.  Case in point that you truly do pay for what you get.  

We resolved this past and future problem to obtain refunds of approximately $60,000 in back taxes and our client will save roughly $20,000 each year by using our services.

Real Estate Professionals Save Significant Taxes Using Our Custom Strategies

The greatest moments for our firm are those when we can meet those who have the willingness to follow and implement our custom tax planning and wealth building strategies.  In 2018, after working with a client for just 1 year, we were able to implement a strategy to lower their effective tax rate from 34% the year before to 16% the following year, saving them over $20,000 in the process.  We did this despite our client realizing a $40,000 gain on the sale of a property in the second year.  Each year that this client works with us, they will realize this $20,000 of tax savings, which does not even factor in the benefit of the customized wealth plan we built for them. 

Business Owners Gain Momentum In Accumulating of Assets With Our Custom Wealth Plans

Perhaps the greatest highlight of 2018 has been watching the progress of those that take advantage of our custom wealth accumulation strategies.  In one case, we helped 2 business owners rapidly accumulate assets using tax-deferred and tax-free accounts, while building a portfolio of assets that produces essentially tax-free cash flow.  In less than 2 years, we have seen their financial situation improve immensely.  We have done the same in the tax planning arena.  In 2018, their gross income was up over 26% from what it was in 2015, and we managed to keep their effective tax rate exactly the same, despite increased income.

If you own a business and/or real estate and are looking for an adviser that is addicted to saving you money and helping you build substantial wealth, contact us, because our strategies are custom built for each and every client to do just that.

How Would You Like $170,000 Tax Free?  

We find that our outside the box thinking can achieve almost any result in the tax world if we try hard enough.  In this case, we engineered a custom tax plan for a real estate investor that resulted in the ability to move $170,000 to a tax-free account where it will never be taxed again.  We accomplished this while paying $0 in current income taxes.  This plan was a huge win for our client, who will continue to enjoy these tax-free benefits for years to come.  

Investor Saves Over $22,000 In Back Taxes

Foley & Giolitto rang in the new year in 2018 by saving an investor over $22,000 in back taxes during our first 2 weeks working together.  As we navigate viable tax strategies in 2018, we expect this tax savings figure to double as a result.

Our due diligence in reviewing back taxes and uncovering items so subtle that no other adviser would notice continues to pay off in a big way for our clients.

Real Estate Investor Saves Over $20,000 In Back Taxes

In 2016, we were able to navigate some highly complex tax rules related to real estate professionals, saving our client over $20,000 in back taxes.  The best part about our success here is that $10,000 of those savings relate to an item that recurs every year.  

In this case, not only did our client save $20,000 up front by working with us.  The client also continues to save $10,000 each and every year as a result of our tax advice.  

We consider this case a huge win for our client and for our firm.

Foley & Giolitto IRS Penalty Removal Saves 2 Separate Taxpayers over $20,000 In 2018

As tax professionals, we know that there is a certain way to deal with the IRS that increases the chances of success in any request.  Using our knowledge, we were able to save 2 of our clients over $20,000 in assessed IRS penalties using a methodical approach to our IRS correspondence.  This once again proves that if the proper time and care is taken by an adviser, it usually pays off.

Individuals Save Over $10,000 with State Tax Planning

Multi-state tax planning can quickly become very complex.  By mapping out an optimal tax strategy for contractors working in several different states, we were able to save our clients over $10,000 in a 2 year period.  This case is proof that W-2 employees still have multiple avenues for tax savings, despite the popular belief that only business owners and investors have enough flexibility in their tax situation to significantly save on their taxes.

New Business Owners Save Nearly $10,000 with Entity Restructuring

We know that entity structure is the foundation of proper tax planning.  That is why entity structure is our first step in consulting with our clients.  Unfortunately, many individuals continue to form entity structures with bad advisors either in the CPA or legal field. 

In this case, our new client was a professional service group that had been set up with an improper tax structure from the start.  Using our knowledge of optimal entity structures, we were able to make some very beneficial changes in structure, resulting in nearly $10,000 in tax savings.  On top of that, the owners of this startup business were able to pay nearly $0 tax on approximately $67,000 of net income in their first year of business.

When forming a new company or entity, it is very important to consult with both a knowledgeable CPA and attorney to make sure the entity you are forming is the optimal one for your specific situation.   

Business Owner Saves $7,000 on Health Insurance Snafu

By taking the time to properly connect with our client and understand their personal financial situation, we were able to ask a question based on our knowledge that ultimately saved our client over $7,000 in taxes.

We find that many others in our industry do not take the time to properly understand their client's entire financial picture.  By taking the time to personally know our client's situation, we identified a health insurance reporting error that we were able to get corrected, resulting in a tax savings of $7,000.

When choosing a tax advisor, it is incredibly important to evaluate if that advisor is taking the proper time to really get to know you and your personal financial situation. 

Business Owners Save $3,000 with Long Term Tax Planning

Let's face it.  Most tax advice in our day and age is incredibly short-term focused and centers on taking any available deduction now rather than later to achieve the benefits of the time value of money.  Furthemore, this advice often results in only temporary tax savings, such as making pre-tax retirement contributions and claiming depreciation deductions.  However, a one-size fits all approach often fails to achieve the optimal results.  

In 2 separate cases, we were able to save our clients $3,000 each by actually delaying a deduction, which is completely contrary to traditional tax advice.  We achieved this result by analyzing the long-term tax plans for these clients and structuring those plans to minimize our client's effective tax rate over a 5 year period.  On top of all that, the $3,000 savings in both of these cases are permanent tax savings, which means that our clients save $3,000 now and never have to pay that tax savings back in the future.

Many advisors in our industry fail to look beyond the current or next year with respect to tax planning.  It is important to make sure your advisor considers your long term future and offers you advice that results in permanent tax savings.  Failing to do either of these results in missed tax savings and missed opportunities. 

Next Steps For Tax Savings

Want to learn how you can save thousands of dollars on your taxes like our clients did?  Use the form below to contact us for your complimentary tax savings review!

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