John Briggs explains how Insight Tax moves beyond standard tax filing to build wealth through strategy. Independent contractors on 1099s can save $3,000 to $10,000 yearly by treating themselves as businesses. The firm assigns each client a dedicated professional who understands their full financial picture, not just plugging numbers into forms.
Insight Tax and Accounting is a CPA firm. We provide tax and accounting services to our clients. We focus on the tax and accounting strategy so that our clients can keep and grow their wealth. At the end of the day, our focus is our clients' wealth and not just tax compliance. We kind of feel like if someone's using a professional firm, that they should expect perfection in the compliance aspect of it. And by focusing on their financial position and their wealth and growing that, we can use the strategy to help them reach their financial goals. What we found is through educating our clients, they are able to look at their financial statements and understand key performance indicators that allow them to make better decisions in their business. My industry is lazy. I have a love-hate relationship with it. I love it because we help people keep their money, but I hate it because Most everyone else in the industry is very lazy. They have what I call plug-and-chug mentality. Give me your information, I'll plug it into my tax software, and don't call me till next year. If you do call me, I'm going to make you feel like it's a really big inconvenience. And so we actually want to talk to our clients. We like seeing them. We understand that the only way to truly save them money is to know what's going on in their life. Because with the tax code, anytime money is transferring hands, Uncle Sam wants some piece of it, and it's our job since we live in this world to understand what a client can do to help minimize that burden. Small business owners with 0 to 4 employees actually make up about 90% of the economy, and so that's what we focus on. So the way we've structured our business is that every one of our clients has a professional that they have the relationship with, and so whenever they have an issue, they're going to first go to our professional. And then from there, we have support staff that focus on some things, some specific things. For example, payroll letters are a very common issue. People might want to try to do their payroll themselves, and so they get letters back from the IRS or state, and they want more money. So we send that off to Ryan. He's our payroll specialist, and he'll make sure that he's going to check what has happened, what the IRS is saying, and then we're going to fix the IRS because Surprisingly, they don't get it right most of the time. But at the end of the day, our customer, our clients go to one professional as kind of their quarterback. A common situation we see is someone who receives a 1099. They're considered an independent contractor and the IRS actually treats them as a business. Most of them don't realize that because they're treated as a business, they could take advantage of all the tax code that relates to business owners. And so by simply giving them a better tax structure and a few strategies, we can save people who get 1099s anywhere from $3,000 to $10,000 a year. If you have any concerns or questions about your taxes, give us a call or fill out the contact form on our website, and we'll be happy to get you scheduled.
