Michael J. McCormick, CPA, CTC™
Think back to the last time you found out that you wasted money paying more for something than you needed to. How did that make you feel? Depending on how much money was involved probably at least a little upset? How would you feel if you found out you've been wasting money over paying your income tax bill possibly for years? Your current tax preparer may be taking everything you give them and preparing a technically correct return for you. But, if they let you make any of the mistakes below you're wasting your hard earned money paying more tax than you're required to pay:
- You're utilizing the wrong business entity.
- Your retirement plan doesn't allow you to defer enough income.
- You have retirement money stranded in a previous employer's plan.
- You pay for medical insurance, deductibles and co-pays with after tax money.
- You pay private school tuition with after tax money.
- You forgo a home office deduction.
- You only consider the standard mileage rate for auto expenses.
- You're not sure what tax credits you're eligible to take.
- You never considered a cost segregation study for your residential or commercial rental property.
- You are a medical professional without your own CHIC.
- You have not setup a medical expense reimbursement plan.
- You do not have an investment strategy for the new emerging economy or still believe you're in it for the "long term".
If you've made even one of these mistakes then you are definately wasting money paying too much income tax!
Our planning service can prevent these mistakes and more! Clients count on us to help ensure their long-term business and financial success. We'll help you create and implement a plan designed to increase your cash flow and profit by minimizing your tax liability.
Michael McCormick is an Ohio CPA, and a Certified Tax Coach™trained in tax strategies designed to save you money. He is also an Investment Advisor Representative (IAR) of Tuttle Wealth Management, LLC of White Plains, NY. He is the founder and Managing Member of MJ McCormick, LLC - Cincy Tax Coach.
Michael started his professional career in private industry as the internal accountant for a chain of specialty retail stores where he became all too familiar with the realities of a business's need for a succession plan. In short order he entered public accounting and cut his teeth preparing tax returns for individuals and privately held businesses. He also assisted on audits of private companies and non-profit entities. He was later asked to return to the retail operation as the Treasurer and Controller. He had responsibility for issues ranging from financial management, inventory control, HR and employee benefits, to information technology. In 2001, after more than 5 years, he returned to public accounting. For over nine years he has honed his skills working with self-employed business owners, medical service providers, manufacturers, real estate investors, property managers, wholesalers, and wholey owned foreign subsidiaries. He has assisted clients in complex issues ranging from IRS audit representation, entity selection, and tax planning, to succession planning. Since 2008 he has focused his energy on providing proactive tax planning strategies to his clients. In early 2010, he decided that it was time to start his own firm and MJ McCormick, LLC was formed.
As a Certified Tax Coach Mike has been exposed to highly specialized tax planning strategies designed to save money for clients like you. The Certified Tax Coach program provides high level training and a colaborative environment for tax members to share ideas. CTC's are focused tax planning professionals dedicated to preventing their clients from paying taxes they're not required to pay.
In June 2010 Mike published his first book, The Entrepreneur's Guide to Forming a Business Entity - Issues every business owner should consider before starting or restructuring their business. It is available at Amazon.com. Primarily a guide for businesses just getting started. It provides an introductory review of each of the primary business entities. However, it is not designed as a book clients would use to make a final decision about what entity in which to operate.
Mike has spoken about tax planning issues for groups such as the Greater Cincinnati Real Estate Investors Association, Comey & Shepherd (fka Remax Unlimited), and Ameriprise Financial Services. He is a regular participant in forums related to alternative healthcare financing programs sponsored by Claimlinx, LLC. He specializes in assisting individuals, professionals, and closely held businesses maximize their ROI, protect assets, and plan for their future while managing cash flow and income taxes.
Michael earned his BA from the University of Cincinnati College of Business Administration.
Securities and Advisory Services offered through Tuttle Wealth Management, LLC, Member SEC, a Registered Investment Advisor.
Here’s What a Few of Mike's Clients Have to Say…
“I started my company in March of 2007. Mike was referred to me by another colleague. Not only did Mike provide a high level of accounting services, he was instrumental in creating a benefits plan for my employees. As a first time business owner I had many questions involving things other than accounting; Mike was always there with answers or the name of someone who had the answer. I would highly recommend Mike McCormick as an accountant and as an individual who has my unqualified professional endorsement and my deep personal respect.”
-- Steve Smith, Managing Member, Imperial Title Service, LLC Cincinnati, Ohio
“Michael is an excellent business partner whose broad knowledge of management, accounting and technical services make him unique in the field. A positive addition to any business environment.”
-- Jeff Feige. Member, Igel North America, LLC Cincinnati, Ohio