What Are the Wealthy Really Worried About?
At GROCO we work very closely with some of the most highly successful people in the world and because of that we know what makes these types of individuals tick. We understand how they think and how they operate and we offer top notch business consulting to help them be successful. We also know what the wealthy are really worried about. And when it comes to investing, wealthy investors’ biggest concern is to protect their wealth, even more so than big returns.
In fact, wealthy investors typically focus on a few particular strategies as they ultimately make plans to pass on their values and their wealth to future generations. Because we work with many of these individuals we are able to share with you the most common strategies employed by the highly successful. Let’s take a closer look.
Creating an effective cash-flow model is at the top of the list of most wealthy investors. Another common strategy used by many of the wealthiest clients we have is to maximize their retirement accounts. That means that they contribute as much as they can to their retirement accounts. Backdoor Roth conversions are also another popular move commonly employed by the wealthy.
Wealthy investors also focus on lowering their income and their capital gains taxes, as well as doing everything they can to avoid estate taxes. Lastly, many of the wealthiest people we work with put a strong emphasis on philanthropy. They not only put a plan in place to distribute their wealth but also their values.
At GROCO, we know that the wealthy have a lot of things to be concerned about, not the least of which is protecting that wealth. That’s why we help the highly successful prepare for the future with careful tax planning and business consultation, among other things. We can help you, too. Just click here to contact us or give us a call at 1-877-CPA-2006.
First Half of Current Fiscal Year a Record-Breaker for U.S. Treasury
It’s been another record year for the federal government so far, which is in the midst of its current fiscal year. At the end of March, when the government reached its halfway point of the 2016 fiscal year, it had already collected $1.48 trillion. One might think that this massive haul would help ease the…
Why Is Almost Half the Country Paying no Federal Income Tax?
One of the biggest tax debates that will likely always exist is whether or not the nation’s wealthy are paying enough in taxes? It’s easy for some to argue that they don’t but there are many factors that must be considered. Plus, all the while, nearly half of the country’s would-be taxpayers don’t actually pay…
Where Is Your Paycheck Going?
While many of the nation’s high net-worth individuals make much of their income through capital gains, those who still collect a paycheck are doling out of cash to the IRS every time they get paid. The same is true for all taxpayers no matter what income level they fall in. In fact, according to a…
Should the IRS File Your Taxes for You?
Imagine a world where you didn’t have to file your own taxes. Of course, you can use an experienced and professional tax and accounting firm like GROCO to do your taxes for you, but what if you didn’t even have to send your tax return information to an accountant? Could that ever really happen? In…