Chiropractor in California Achieves Tax Savings and Peace of Mind 

The story: A California chiropractor knew it was time to move on from his accountant, who he felt wasn’t doing much more than checking boxes for him each year. He owned his practice, held real estate, and had money sitting forgotten in various accounts. He wanted a plan in place to both lower his taxes and ease the stress of trying to manage it all that was on him and his wife, who were busy running their practice.

Tax Situation Overview:

Annual income: $550,000

Lifestyle expense: $300,000

Cash flow recovery number: $250,000

Initial effective tax rate: 34%

Annual tax savings: $130,000 

The outcome: Terra Firma put a plan in place to help the couple save on taxes, improve the efficiency of their existing assets, and create new streams of passive income. The chiropractor now sees a path to the early retirement he desires.