Success Stories with simplify365®

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.

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.

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.

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.