- President Obama paid income taxes of 20% on income of $3 Million.
- Mitt Romney paid much less, 14% on income of $21 Million.
Even though he out-earned President Obama 7-to-1, Romney paid a lower tax rate than his opponent. President Obama and many Americans were angry, saying Romney didn’t pay his “fair share.” But, instead of the anger, why did we not ask how that was possible? How did Mitt pay only 14% on his income while President Obama paid 20%?
It’s a one word answer: “Specialist.”
Romney had tax and legal experts to advise him on how to legally cut his taxes, ensuring his legal and accounting bills were in the hundreds of thousands. But that “expensive” advice saved him millions. Not so expensive when you consider his return on investment, is it? I am the Specialist in my field: College Financial Planning. My advice contains specialized knowledge that, if implemented, can save you thousands, even tens of thousands of dollars. My clients typically see a return on their investment in the 5:1 range, meaning that if they invest $2,500-$5,000 they see a payoff (grants, scholarships) that multiplies their initial investment.
For example, if you are a high net worth business owner, I may point out overlooked “tax scholarship” strategies that your CPA overlooked because
they do not understand the interrelationship between the Dep’t of Ed financial aid rules and the IRS tax code. Or, if a family has saved money in the “wrong” places, and I show them why, how and where to shelter those funds, increasing eligibility by $10,000, $15,000, even $20,000, per year.
After helping your child pick the right career-major-school (in that precise order) they eliminate transfers and graduate in four years instead of the
average five or six. Not only will your student flourish, but so will your wallet. Plus, through Financial Aid negotiations with colleges, it is possible to save half a year’s salary!
What I am saying is this: College is expensive. But NOT hiring a Specialist can be even more costly.
I offer a 30 minute “Pick My Brain” College Readiness phone consultation for $75.00. Honestly, I used to offer this for free, but I found people equate
free to a “sales pitch” or nothing of value. This 30-minute phone call can easily save you thousands in mistakes, which I think is a pretty good return
on investment, don’t you? Who should jump on this offer? Any busy parent with children in eighth through eleventh grade who thinks: we make too much or too little, are we too early or too late, you have saved or you haven’t, or you may feel helpless and confused and you don’t know where to start…
That’s exactly why we should chat! Call us to schedule your “Pick My Brain” College Check-up Call today!
Your College Planning Coach, Luanne Lee
P.S. We can talk about picking schools, choosing a major that will actually help your child succeed after college, scholarships, loans, grants and other
financial aid, or personal finance questions… you name it, it’s your call. The clock is ticking!