Real World Case Study
$1.2 Million in Tax Savings

Professional Practice Expansion and Financial Optimization

Client Overview:
A professional practice with four doctors expanded its business from $3.25 million in gross revenue to nearly $6 million in just one year.

Challenge:
The rapid growth of the practice required a comprehensive review of their CPA and accounting services to ensure financial efficiency. Additionally, a review of their federal student loans, group medical plan, and retirement planning was necessary to further optimize their finances.

Solution:
We conducted a thorough analysis of the practice’s financials, leading to a revision of their CPA and accounting strategies. This resulted in $1.2 million in tax savings, including a $600,000 loss carry-forward that had been missed by their previous CPA firm. We also identified an additional $600,000 in tax savings.

Furthermore, we reviewed the doctors’ federal student loans, eliminating $3,000 per month in debt payments for each doctor for the next 20 years. We also performed a detailed review of their group medical plan, optimizing coverage and costs for the practice. Finally, we set up a retirement plan to help secure their financial future.

Outcome:
The practice not only optimized its tax situation but also significantly reduced its student loan obligations, allowing for greater financial flexibility. The doctors now have a solid retirement plan in place, an optimized group medical plan, and enhanced financial security.