Essential Business Solutions

Payroll optimization

How you pay yourself matters! it impacts the amount of taxes you pay, as well as the tax planning opportunities that you are eligible for. simplify365Ⓡ works with you to develop compensation strategies applicable to you, your spouse, and your children, all aligned with tax planning needs and financial goals.

A strategically structured payroll may help reduce your overall tax burden and enhance retirement savings. We strive to balance these benefits with regulatory compliance, assisting you in navigating complex tax laws while improving your financial outcomes.

Retirement plan design

Preparing for a financially secure retirement is one of the most important long-term goals for individuals and businesses alike. At simplify365®, we understand the complexities involved in designing and implementing an effective retirement plan that meets the diverse needs of your organization and employees.

Our retirement plan design services go beyond traditional 401(k) offerings, providing a comprehensive approach tailored to your unique requirements. We work closely with you to understand your business objectives, employee demographics, and financial considerations. This approach results in a robust retirement plan, supporting your employees’ long-term financial well-being while enhancing the company’s ability to attract and retain talent.

Learn More

Mistakes Identified

Income Reporting Oversights
Deduction Miscalculations

Tax Due Diligence™

At simplify365®, our Tax Due Diligence Process is built on our commitment to continuous, balanced growth and proactive financial optimization. We understand that many business owners may not have the time or expertise to fully review their tax returns, which can lead to missed tax-saving opportunities or errors. That’s where we step in. Our process focuses on identifying potential errors, ensuring all tax strategies are implemented correctly, and helping you understand how these savings contribute to your overall financial strategy.

With our client-centric approach, we act as your second set of eyes, providing a thorough review of your financial picture. From income sources to potential deductions, we ensure nothing is overlooked. Our goal is to empower you to take control of your tax situation, avoid overpaying, and secure the long-term financial success of your business.

If you’re feeling uncertain about your taxes or worried you’re missing opportunities, contact us for a free consultation today. Let us help you save time, reduce your tax burden, and stay compliant.

simplify365® CFO

Imagine having a central hub that details all the essential aspects of your financial life, like a doctor’s chart for your finances. That’s what oursimplify 365® CFO offers – a dynamic tool that compiles your essential financial information in one organized location, ensuring nothing is overlooked and every facet of your financial well-being is addressed.

The simplify365® CFO provides a comprehensive snapshot of your financial situation, giving you a clear view of income, assets, liabilities, taxes, insurance, investments, and more. It covers the core financial planner disciplines, ensuring a holistic approach to your finances. It also includes a routinely updated record of your critical data files, such as tax returns, trust documents, insurance policies, and other essential business records.

With the Advanced CFO, you can expect:

Efficient Meetings

We leverage the simplify365® CFO to guide our conversations, making meetings productive and meaningful, focusing on what truly matters to you.

Personalized Discussions

Your personal and family information is readily available, facilitating tailored conversations that acknowledge your unique life circumstances.

Disciplined Organization

Your finances are organized by key areas like income, expenses, investments, taxes, insurance, estate planning, and more.

Case Studies

Explore our key case studies below or browse all to see how simplify365® can help manage your wealth effectively.

Browse All

Boosting Profit Margins Through Strategic Product Analysis

In this case study, Vance Wealth helped a seasonal business client boost their profit margin from 5% to 21% by streamlining product offerings and improving cash flow management. By conducting a detailed analysis of the client’s product lines, Vance Wealth identified unprofitable items and eliminated those with less than a 10% margin, reducing costs significantly. Additionally, they assessed the client’s cash flow needs, ensuring sufficient reserves to cover operations during the off-season. This strategic approach led to a more efficient business model, higher profitability, and improved focus on future growth.

Saving Over 50% in Taxes with a Cash Balance Plan

In this case study, Vance Wealth helped a high-earning consultant save over 50% in taxes by implementing a cash balance retirement plan. The client’s income, just shy of $1 million, caused his tax liability to surge. Through thoughtful tax planning, including a $125,000 cash balance contribution, Vance Wealth reduced his tax liability from $174,000 to $104,000, saving him over $70,000. Additionally, the client secured significant retirement savings, demonstrating the power of strategic tax planning.

Maximizing Tax Savings with Smart Business Planning

Here’s a great example of how Vance Wealth and simplify365(R) can help make a difference on your overall tax situation. In this case, the client was above the QBI threshold of $440,100, initially limiting his tax saving options. His total cash liability was north of $174,000, but a cash balance retirement plan offered a solution. Devising and implementing this plan, we were able to lower his tax liability by around $70,000. The client was able to put $120,000 into a retirement account that’ll grow tax-deferred, so it’ll be something he’ll be able to live off in retirement.

Reducing Corporate 401(k) Plan Costs by Over 30%

In this case study, John Vance, President and Founder of Vance Wealth, shares how his team helped a company with over 100 employees and $10 million in assets reduce their corporate 401(k) plan fees by more than 30%, saving over $335,000 annually. Through a thorough analysis and fee benchmarking, they restructured the plan’s investment menu and negotiated with Fidelity to significantly lower costs while adding valuable fiduciary services. This resulted in long-term savings for the employer and improved outcomes for employees.

Simplify Your Business with Essential Solutions

Schedule a call today to discover how we can streamline your payroll systems, retirement plans, and tax strategies.

Book A Consultation

Payroll optimization