True Wealth

Happy Tax Tax Industry

In this week’s session, I’m going to talk about the concept of “What does wealth mean to you?” I was introduced to this many years ago when I read the book, “The No BS Guide to Time Management” by Dan Kennedy. Everyone has their idea of what true wealth is. I know there was a point in my life when …

Tax Business Exit Strategies

Happy Tax Tax Industry

On this week’s session, I’ll answer a question from Harry from Dallas who asked what options are available to him as the owner of a tax practice he wants to wind down. Harry has 532 tax clients and has been in the business for 22 years. He still loves the business however the workload is getting to be a lot to him. …

Why The Flat Tax Won’t Work

Happy Tax Tax Industry

On this week’s session, I’m going to talk about the Flat Tax being proposed by some Presidential candidates. Every election season, we tend to hear more about this so I’ll address it up front as well as why it won’t work.  The flat tax is where everyone pays the same tax rate regardless of their income level. Currently, federal tax rates for individuals range from 0 to 39.6% plus from 7.65% to 8.55% …