Mark Myers - The Top 3 Tax Strategies That Your CPA Doesn't Know About

Do you dread tax season? Feel like you're leaving money on the table when that tax bill arrives? In this episode, Abel Pacheco sits down with Mark Myers, founder of Peak Profit Solutions and self-described "tax savings architect." If you're eager to gain insider knowledge on how the top 1% navigates the complex tax code, don't miss this conversation. You'll come away with actionable steps to legally minimize taxes and avoid overpaying Uncle Sam. The savings could be life changing. It’s time to get strategic and unleash the full potential of what Mark calls "the profit center hiding in your tax return."

[00:00 - 15:59] - Opening Segment

• Mark introduces himself as a tax savings architect
• Outlines his role in reducing taxes legally without replacing CPAs
• Discusses ideal clients like high income W2 earners and business owners
• More income provides more opportunities for tax savings

[15:60 - 30:45] - The Importance of Being Strategic With Taxes

• For business owners selling assets, do pre-sale planning
• Shift income assignment to more tax efficient entities
• Allows for continuing tax deferral compared to owing at sale

[30:45 - 32:51] - Tax Savings “Coupon #1”

• Use the "Augusta rule" to rent primary residence to your business
• Creates up to $40k in tax-free rental income each year

[32:51 - 37:35] - Tax Savings “Coupon #2”

• Donate appreciated assets to charity to get a larger deduction
• Deduction can be 4x your cost basis in the donated asset
• Limited to 30% of AGI for these types of donations

[37:35 - 41:34] - Tax Savings “Coupon #3"

• Invest in solar projects to get 50-60% tax credits
• Plus accelerated depreciation and cash flow from energy payments
• Overall can get back more than invested in tax savings

[41:35 - 47:47] - Final Thoughts

• Emphasizes being proactive, not reactive with tax planning
• Have a consultation on strategies for future years

Key Quote:

"My goal is always to reduce my client's taxes by at least 25%, but sometimes I can reduce it by as much as 80%." - Mark Myers

Connect with Mark through his Website!

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