Exciting improvements are ahead for Vance Wealth this year, and one of the opportunities we’re most excited to announce is Simplify365 – a new business offering designed to help business owners simplify their planning approach to life and business.

This new program is designed to help busy entrepreneurs carve out the time they need to focus on what matters most, while simultaneously taking advantage of specific tax-saving opportunities. By implementing a few critical strategies, business owners can adopt a more purposeful planning routine, optimize their payroll structure, improve their retirement savings, and reduce their tax burden to keep more of the money they earn.

“Running a business can be very rewarding, but it’s also very consuming. What affects your business affects your life and vice versa,” explained John Vance, the firm’s founder and president. “Eventually, you get to a point where you ask yourself: ‘How can I simplify my business and my personal life in order to achieve more of my big-picture goals?’ Answering that question is where this program started.”

After working with many business owner clients, the firm’s wealth advisors were able to identify planning opportunities where more support and guidance were needed. As a result, the Simplify365 Planning Day gives business owners a highly structured agenda to increase clarity, review goals, and find solutions to their most pressing issues each month.

By taking this planning day in the comfort of their own homes – and away from their busy workplaces – business owners may be able to take advantage of the Augusta Rule. Also known as IRC Section 280A(g), this piece of tax code allows homeowners to legally rent out their home to their business for up to 14 days per year, resulting in a sizable tax deduction.

While the planning day and Augusta Rule deduction set the foundation for consistent checkpoints throughout the year, a comprehensive tax plan ensures these monthly sessions are working toward the ultimate goal: maximum profitability and minimum tax liability over the business owner’s lifetime.

“Tax prep is overwhelming, especially for business owners. If you’re like most, you sign your tax return without really knowing if all the data has been picked up accurately. That’s where we can help,” Vance said. “We work with your accountant, striving to make sure you’re taking advantage of every opportunity and working toward long-term tax savings – instead of just looking at how to save taxes one year at a time.”

Simplify365 is ideal for business owners who want a more purposeful approach to their time and planning, so they can achieve more of their goals in life and business.

To learn more about the new Simplify365 offering, please call 661-775-0950 or click here to schedule a complimentary consultation with a Vance Wealth advisor.

Vance Wealth, Inc is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Vance Wealth and its representatives are properly licensed or exempt from licensure. The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor’s particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisor.
Figures produced using our internal calculator vary based on the following assumptions. The business owner has a separate business entity, the business owner owns a house, the business owner does not use their primary residence as their primary place of business, the business owner is filing as married filing jointly or single, the business owner’s savings may vary based on their taxable income, tax bracket, rental price and days home rented to the business. The figures used are generalized and not indicative of actual results, which may differ substantially. This does not reflect the impact that material economic and market factors may have had on decision making. The results shown were achieved by means of a mathematical formula. If you qualify for a QBI deduction your net benefit may be reduced.