In-N-Out Burgers -- Oh So Good!

Posted By: Larry Stone ICOR Blog & News ,

They are coming! Last week I saw an In-N-Out Burger location in Aurora, and I was amazed. I love their Double-Double, Fries, and a Coke—though their shakes are great too. When I lived in California, dining at In-N-Out Burger restaurants was a treat. Sadly, I will not be enjoying the juicy satisfaction of eating the Double-Double treat due to my new diet called—if you like it, you cannot have it. Just my luck.

Why are we talking about burgers? First, they created systems and processes designed around delivering fresh ground meat to their customers. Prior to opening a restaurant in Colorado, they established their own fresh meat processing facility in Colorado Springs to honor their concept. They maintain a limited menu designed to allow fast preparation and service to their customers. Their stores are designed to get the customers really in and out of the restaurant as quickly as possible.

While getting a juicy burger quickly may be a great objective for In-N-Out Burger, it may not be a good strategy for your tax planning. Many tax professionals have designed their business models to quickly process your tax information and prepare a tax return but not necessarily provide you with planning. This approach can be identified by their process. Does their process begin with preparing your tax return —which is what you think you want? Or do they begin their process by providing you with a detailed tax plan—explaining what to do, when to do it, how to do it, and why? The latter is what most people seek when working with a tax professional—advice on how to do it right.

Working with clients who are interested in doing it right is important to us. We add value to our clients by giving them direction using a detailed strategic tax plan which is in writing. Giving tax advice without documenting why you are allowed to do it under the tax law—the IRS Code, Revenue Procedures, and Tax Court Case Rulings is meaningless. It is worth the paper you write it on—nothing!

We are serious about increasing our value with our clients. We offer prospects a Discovery Session designed to identify mistakes and missed opportunities in their tax and investing situation. During this conversation, you will have an opportunity to determine if our proposals would add the value you seek. We recommend that you take advantage of this opportunity as soon as possible so you can make changes to your situation in 2021. Do not wait until you normally prepare your taxes to act. By then, it will be too late to make changes should you want.

As a real estate professional in this industry, you are in a trade or business. No matter what your activity is (fix/flipping houses, wholesaling, or land-lording), you should have detailed document advice assisting you in reducing your taxes and saving cash so you can accomplish your own dreams. Your strategic business objectives will lead to success in your business. Although we do not have a drive-thru to serve you, we will be glad to deliver a Discovery Session. Give us a call at 970-668-0772 or email info@coloradotaxcoach.com to discover how to turn your taxes to cash.