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Tom is the creative force behind ProVision Wealth Strategists. For more than 25 years, Tom has devised innovative tax, business and wealth strategies for sophisticated investors and business owners in the manufacturing, real estate and high tech fields. Tom has a wide variety of professional experience, ranging from Big 4 accounting, where he managed the professional training for thousands of CPA's in the national office to in-house tax advisor for a Fortune 1000 company. Tom is a published author on partnership and corporation tax strategies and his ideas have been featured in two books in the Rich Dad Poor Dad™ series. In addition to his frequent lectures on wealth and tax strategies, Tom is an adjunct professor in the Masters of Tax program at Arizona State University. The founder of ProVision, Tom is responsible for innovating new consulting services for ProVision's premium clientele and for marketing ProVision services worldwide. In addition to his management responsibilities, Tom still likes to coach select clients on their wealth, business and tax strategies. Tom has his master's degree in taxation from the University of Texas at Austin and his Bachelor of Arts degree from the University of Utah.
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 Year-End Checklist for Business Owners and InvestorsBookkeeping is one of the keys to bringing a tax strategy full circle. It's one thing to know what's deductible and how to maximize your deductions, but unless that gets reflected in your bookkeeping, it's as if the tax planning never happened at all. Tax-Free Rental IncomeOf course, there are specific rules behind this permanent tax saving strategy. I find that after I go through the rules with my clients, we usually find a way to use this strategy - legally - and it creates another stream of permanent tax savings. Year-End Checklist for Rental Real EstateReal estate is also one of the most complex areas of the tax law. This makes it easy to overlook important steps, which can lead to missing out on tremendous tax savings. 2 More Reasons for Estate PlanningYou've probably heard a lot about the probate process, but have you ever heard anything good about it? Most probate stories are nightmare stories. Probate can be expensive, it's a public process and it can be contested. 3 Ways Partnerships Give Your Tax Strategy Maximum FlexibilityWhen the business starts, the owners have a profit sharing structure in mind, let's say it's 50/50. Then, a few years down the road, the owners have a need to change their profit sharing structure - maybe their roles have changed or perhaps one wants to work less. An Opportunity to Convert to a Roth IRA in 20102009 is the Time to Start Your Planning If you plan on converting, then now is the time to start planning because your 2009 tax planning may look a little different. For example, you may want to defer deductions until 2010 and accelerate income into 2009 to avoid being pushed into higher brackets in 2010, 2011 or 2012 from large conversion income. 3 Ideas for Business Financing in a Tough MarketThe form of leverage most people are familiar with is a loan, which is a way to leverage your assets. Leverage in this case may be a mortgage on a piece of property or a line of credit in your business. The Benefits of Setting Financial GoalsIf you don't know how much you are saving or when you will be able to retire, it's time to look at the benefits of setting financial goals. It's important to look at what your future plans are, how much you can contribute to them, and how you plan to manage and grow your wealth. The 2 Questions Every Business Owner Needs to Know How to AnswerLeverage in a business comes from many sources. But the most important source is the business systems. The first key to building a profitable and valuable business is to create the proper systems to run the business. Then, the owner can spend his or her time managing the systems instead of managing the people. How to Use Reporting to Accelerate Your WealthReporting is summarizing activity in a clear and concise format. When done correctly, reporting is a helpful and meaningful tool that helps you make timely business and investing decisions. Now, be honest. Some of you saw the word reporting and immediately began trying to convince yourself you don't really need it. I find that most people avoid reporting, even though reporting can help them accelerate their wealth!
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