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New article on Octo: building an efficient and well aligned tech-stack for financial advice practices. Progressive thinking from @JonPitthamand the team at @HatchCF#forpractitioners
Have a new client who came in
Young guy
Will net over $1mil this year easily
His old CPA had him as an S corp with no salary
Did not care about bookkeeping
In the first few months:
- we got him a new CPA
- hired a book keeper
- setup the right salary that is reasonable
- maximized QBI
- setup and fully maxed out solo 401(k)
- moved high 6 figures of cash from 0% to 4.65%
This will result in well over $50k net to him
Business owners - financial planning can make such a huge impact when done well!