and four case studies for illustration.
by jackie meyer
the balanced millionaire: advisor edition
you’ve already heard the story of one of my first high-net-worth clients – an executive preparing their own tax return, making costly errors and ultimately turning to me for help. let’s revisit this example with a deeper dive into the transformation and outcomes.
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case study 1: from $150,000 in tax savings to 1,400 percent roi
the situation: this client was an executive with a complex financial situation, including private equity investments that generated dozens of k-1s. when i initially reviewed his self-prepared return, i found that he had misclassified a capital gain sale as royalty income, which led to an overstatement of income by hundreds of thousands of dollars. in 2012, i charged him an hourly rate of $150 to amend the return and correct the mistake. this simple fix saved him $150,000 in taxes.
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