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Mark Johnson

Sponsor Member
  • Content Count

    10
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  • Last visited

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About Mark Johnson

  • Rank
    Occasional Poster

Business Information

  • Business Name
    P&G Accounting Solutions
  • Business Address
    4831 NW 19TH ST, Lauderhill, Florida, 33313
  • Type of Business
    Marketing to Auto Shops
  • Your Current Position
    Marketing To Shops
  • Website
  • Banner Program
    None
  • Certifications
    Certified Business Tax and Planning Expert.
  • Your Mission Statement
    We help auto repair shop owners to reduce taxes by as much as 50% and have them saving 1M for retirement in less than 8 years.

Recent Profile Visitors

111 profile views
  1. @rpllib Have you ever thought about a Phantom Stock Plan? This is a deferred compensation plan where you can allocate stocks in your shop to employees if they meet certain predefined growth or sales targets. The beauty of this strategy is that, you don’t have to give up ownership of your business, the stocks are vested some time in the future therefore you can buy insurance or do investments to make the payments when they become due and most of all the employees will be working towards something ie. a part of the business. Quick case study. Say your shop is valued at $10M. You would say for example, if the shop increases revenue by 20% over five years the employee will get say 12% (this will be decided by you). Now during those five years you can buy insurance or investments to pay for the shares when they become due or if you want him to take over the business he can take it in actual shares. This plan comes with a lot of tax benefits and at the end of the day the employee has an incentive to help grow the business. To learn more about Phantom Stock Plans you can send me a private message or visit my website.
  2. According to The NY Times, you should have a well-padded cushion of savings by age 50 if you want to retire comfortably. This is how it should look: By age 50, have five times your annual salary saved. ( ie. $100K income = $500K savings) By age 55, have six times your annual salary saved. ( ie. $100K income = $600K savings) By age 60, have seven times your annual salary saved. ( ie. $100K income = $700K savings) The Times also reports that less than 13% of Americans have a pension or a solid retirement plan. How does your situation looks? Are you on track to retire comfortably? If not, no need to panic. We can guide you in getting there. If a shop owner who is currently 50 years old starts putting away $2,700 every month until he retires at 67. He would have amassed $1,245,344 by the time he retires. Now you might be asking where will I get the money from to save? Well, most of the shop owners that I encounter are overpaying an average of $22,679 in taxes yearly. This amount alone could easily be used to fund your retirement plan. When we met Henry he was 62 and his shop was netting a little over $283K per year. We were able to find tax savings which allowed him to save $84K per year and in 8 years he had over $1.1M in retirement savings. To learn how to use your tax savings to build your retirement portfolio message me directly or book a free consultation via my website.
  3. He had been working with his accountant for 6 years. That’s over $134k in over-payments. The reality is most CPAs only do tax preparation not tax planning, there is a HUGE difference! I am offering free tax planning assessments to all group members. Where we will look at: Deductions review & Strategy planning Legal Entity Optimization Retirement Option & Plan to Hit Extra 1M by Retirement Insurance Review & Assets Protection TCJA (Trump Tax) Review Message me direct or book your slot on my website.
  4. He had been working with his accountant for 6 years. That’s over $134k in over-payments. The reality is most CPAs only do tax preparation not tax planning, there is a HUGE difference! I am offering free tax planning assessments to all group members. Where we will look at: Deductions review & Strategy planning Legal Entity Optimization Retirement Option & Plan to Hit Extra 1M by Retirement Insurance Review & Assets Protection TCJA (Trump Tax) Review Message me direct or book your slot on my website. View full article
  5. @Joe Marconi For all the shop owners who a looking to exit their business through sale of the business. Please ensure to do tax planning before you sign off on the sale. There are strategies which can totally eliminate your transfer taxes but it can only happen if the strategies are implemented before the sale. If you don’t wish to sell now, you can take cash out of the value of the business. There are compensation and profit sharing strategies that will. Give you cash from the business Keep employees loyal and they will feel like a part of the business. This will allow you more time outside of the shop. You don’t have to pay for it out of your shop’s cash flow.
  6. Joe you are so very true. Did you guys know that you can use your home to get between $10k-$20k in business expense deduction on your taxes every single year. And I'm talking about the home office expense deduction.
  7. Have you ever done a Tax Planning exercise? Do you know the difference between Tax Preparation and Tax Planning? Tax Preparation is the backward-looking process of using your income to produce a tax return for the IRS. It is done after the fact and its main purpose is compliance. Tax planning however, is a strategic and proactive look at your business and personal finances in an effort to Legally minimize your tax exposure while ensuring that you are in compliance with the Internal Revenue Code (IRC). Not knowing the difference between the two can cost you thousands of dollars in unnecessary over payments, fees, penalties, interest charges or even jail time. I am a Tax Strategist who helps Auto Shop owners to reduce taxes by as much as 50% and eliminate financial risks. To learn more please free to reach out. View full article
  8. Have you ever done a Tax Planning exercise? Do you know the difference between Tax Preparation and Tax Planning? Tax Preparation is the backward-looking process of using your income to produce a tax return for the IRS. It is done after the fact and its main purpose is compliance. Tax planning however, is a strategic and proactive look at your business and personal finances in an effort to Legally minimize your tax exposure while ensuring that you are in compliance with the Internal Revenue Code (IRC). Not knowing the difference between the two can cost you thousands of dollars in unnecessary over payments, fees, penalties, interest charges or even jail time. I am a Tax Strategist who helps Auto Shop owners to reduce taxes by as much as 50% and eliminate financial risks. To learn more please free tax to reach out.
  9. He guys, I'm to happy be a part of this community.

    Please feel to ask me any accounting, tax or investments questions you have.

    I am here to serve you.

    Thanks,

    Mark

     

     

     

  10. Mark Johnson

    Mark Johnson



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