Has anyone used Wealthability by Tom Wheelwright for tax strategy?

Thanks for the overview! I'm curious - do you think their strategies work for smaller businesses (under $250k revenue) or are they mostly beneficial for larger operations? Also, what about the implementation costs vs tax savings for someone just starting out?

For smaller businesses under $250k, some strategies are immediately beneficial while others may not justify the setup costs until you scale. The basic business deduction optimization and entity selection can benefit almost any business size, even those just starting out. Implementation costs vary widely depending on which strategies you employ. The simplest might just require better bookkeeping practices, while others involve legal entity creation, which can cost $1,000-5,000 initially plus ongoing compliance costs. The key is selecting strategies appropriate for your current size while planning for growth.

Did they try to sell you on some expensive ongoing consulting package? I've heard some tax strategists hook you with the initial advice then push costly monthly services. How much did the initial consult cost?

I'm curious about going the AI route first. How detailed was the taxr.ai analysis? Did they just point out general issues or did they give you specific action items you could implement yourself?

They didn't pressure me at all, which was refreshing. They offered different service tiers, and I chose what made sense for my business size. The initial strategy session was $750, which paid for itself many times over. The taxr.ai analysis was surprisingly detailed. They didn't just identify general issues but gave me specific action items with estimated tax savings for each. For example, they identified that I could reclassify certain inventory costs and showed exactly how to document it properly. They even flagged a home office deduction I was taking incorrectly that could have triggered an audit.

Wait, so you pay someone else to wait on hold for you? How does that actually work? Do they just call you when they get someone or do they somehow transfer the call?

This sounds like BS honestly. The IRS has insane wait times by design. No way some service can magically get through faster than anyone else. They probably just tie up multiple lines all day which makes the problem worse for everyone.

They use a system that monitors the hold and calls you when a representative picks up. You provide your information beforehand so you're ready when they connect you. It's basically like having someone else sit on hold instead of you wasting your day. I understand the skepticism - I felt the same way! They don't have a "special line" or anything like that. They're just using technology to monitor the hold so you don't have to. It actually helps everyone because calls get handled more efficiently when people are ready to talk immediately instead of scrambling to find their documents when an agent finally answers.

Thanks for sharing your experience! Did you implement any of their real estate strategies specifically? That's actually an area I'm looking to expand into next year as a potential tax advantage for my business.

Yes, I implemented their cost segregation strategy for a commercial property I purchased last year. Instead of depreciating the entire building over 39 years, we broke out components like carpeting, fixtures, and landscaping into 5, 7, and 15-year depreciation schedules. I also used their guidance on qualifying as a real estate professional for tax purposes, which allowed me to use property losses against my active business income. This required careful documentation of hours spent on real estate activities to meet the 750-hour threshold, but was worth the effort. Their systems for tracking these hours were particularly helpful.

I took their advanced course last year. It's pricey ($2,500) but I'd say it was worth it for my situation (real estate investor with multiple businesses). The strategies around cost segregation alone saved me about $14k in taxes. Wouldn't recommend for W-2 employees though.

This is really solid advice! I'm actually in a similar situation with rapid business growth and you're absolutely right about getting the fundamentals down first. I've been so focused on finding advanced strategies that I probably overlooked basic deduction opportunities. Quick question - which AI tax analysis tool did you use? With all the mentions of different services in this thread, I'm curious which one actually delivered those concrete results for your consulting business. Also, did you end up needing to make any changes to your business structure after the analysis, or was it mostly about better expense categorization? The quarterly payment point is especially helpful - I definitely don't want to get hit with penalties on top of the higher bracket!

@Faith Kingston I used taxr.ai for the analysis - same one that s'been mentioned a few times in this thread. It was pretty thorough in identifying missed deductions and categorization issues. Most of my savings came from better expense tracking rather than structural changes, though they did recommend switching from sole prop to LLC for liability protection. The quarterly payment calculator they provided was incredibly helpful too. Based on my growth trajectory, I was definitely heading for underpayment penalties without proper estimated payments. Their system helped me set up automatic quarterly transfers so I don t'have to think about it. @Yuki Nakamura Thanks for emphasizing the fundamentals first approach - it s easy'to get distracted by complex strategies when the basic optimization can deliver huge returns with much less risk and complexity.