As the first Main Street Certified Tax Advisor in Oregon, I'm thrilled to share my journey and the benefits of this innovative program. My unique background as a Certified Exit Planning Advisor (CEPA), former IRS auditor, and IRS Enrolled Agent positions me to offer unparalleled strategic tax planning for business owners.

The Trifecta Approach

The founder of the MSCTA, Mark J. Kohler, a CPA, attorney, named partner in KKOS Lawyers, podcaster, best-selling author, and national tax educator, has pioneered the Trifecta approach. Bringing together Tax, Legal, and Estate/Legacy planning for a holistic strategy is crucial as it addresses the full spectrum of a client's life needs and goals, avoiding the pitfalls of contradictory advice that can arise when these areas are handled separately.

Certified Tax Pro Program: An Expanding Network

This certification Pro program is a comprehensive learning plate form with over 13 specialized modules covering various tax and legal topics, totaling over 70 classes, and take over 800 questions to pass the course. It is continuously growing with new content. Currently, I'm the only MSCTA in Oregon, but soon there will be dozens, if not hundreds, of certified advisors. I welcome this growth because everyone needs the type of advice, guidance, and support that this program provides. Most accountants don't know how to offer proactive advice that spans the present, retirement, and death.

I recently spoke with a realtor who asked if she should join the program. She works with real estate investors and wants to understand these strategies herself and guide her investors in the right direction. This conversation highlights the widespread need for the expertise that the MSCTA program offers.

Estate Planning: The Inevitability of Neglect

I was shocked when I read a recent study by the Exit Planning Institute (EPI) found that 70% of business owners do not have an updated estate plan, leaving their heirs vulnerable to significant tax liabilities and potential estate erosion. My experience as a former IRS auditor has shown me the dire consequences of this neglect. Integrating estate planning into an overall exit strategy is essential to ensure a smooth wealth transfer and protect one's legacy.

 The Main Street Approach

Many people are skeptical of Wall Street and prefer to build their own futures rather than betting on unpredictable markets. They would rather invest in themselves, their own business, real estate, and a Main Street approach. It resonates with those striving to build, keep, and control wealth. It's about empowering individuals to take control of their financial destinies. Additionally, many people are unaware of how to use their own retirement accounts to self-direct investments in real estate, crypto, business, or other assets while abiding by the laws and rules to stay proactive and out of trouble. For example, Mark Kohler talks about purchasing a condo within a Health Savings Account (HSA). He teaches about debt management, business and personal net worth tracking, reducing taxes, reducing risk, and building wealth. So many people lack the basics of financial education, such as life insurance, college, retirement, or estate planning. Mark provides a framework for these basic, intermediate, and advanced strategies.

A Network of Support

Being part of a network like the MSCTA program offers a community of professionals dedicated to proactive advice. The collective goal is to make the world a better place through supporting each other and our clients on the journey to financial security and peace of mind. Mark Kohler hosts Tax & Legal 360 conferences several times a year, bringing together speakers to talk about the latest tax, legal, and estate strategies in an ever-changing landscape. Additionally, there are 2 or 3 weekly calls with Mark and several of his attorneys, where we can ask technical, legal, marketing, mindset, work-life balance, or anything relating to the business. Meeting with someone like Mark, who charges over $1,000 per hour for his time, along with advice from his attorneys, has been an incredible experience. Everyone in this program has grown personally and professionally.

The Hidden Cost of Taxes

Typically, taxes are the largest expense over a person's lifetime: you earn it, they tax it; you save it, they tax it; you spend it, they tax it; and when you die, they tax you. Understanding and navigating the tax landscape is crucial for financial success and legacy building.