How The IRS Ruined My Dad’s Business

My Dad owned a pest control business for 40 years. He built it up to five trucks running and was starting to do pretty good.

Then he got audited by the IRS.

He ran the business out of his home — a double wide trailer in a trailer park. The IRS agent came to his trailer, sat on his couch and did the audit. Crazy.

Turns out he owed 10k in taxes. This was back in the early 1980’s and this was a huge amount of money he did not have.

They slapped a lien on his bank account and almost broke him. It was never the same after that. He still continued in business, but only as a solopreneur. Trying to stay under the IRS radar.

He had no access to strategies or help. The pre-internet world.

As your success grows, if you don’t have a plan to control taxes, you will lose 30%-50% of the money you create over the course of your life.

This is not about avoiding taxes. The top 10% of Americans already pays 70% of all federal taxes.

This is about how can you make the biggest impact in the world.

I suggest that by retaining and growing your wealth, using the legal tools the tax code provides, you can have 10x the impact on the world vs.just making those big tax payments each year.

The first strategy we’ll cover next: How To Be Your Own Charity And Reduce Taxes By 30%.