Tax Structuring for Wealth Building with Sharon Winsmith.
Tax Structuring and planning for Wealth Building for small business owners and entrepreneurs with Sharon Winsmith.
Sharon Winsmith is an experienced tax attorney and the founder and owner of Winsmith Tax – helping her clients develop sustainable tax strategies for building more wealth. After working ten years in public accounting, including several years working in the tax structuring department of a Big Four accounting firm, she decided to start her own business, Winsmith Tax. With years of experience assisting clients with income, corporate, and international tax issues, as well as tax consulting and audit defense, she is now bringing her expertise to a broader clientele, ranging from individuals located in the U.S. and abroad and to businesses of all types.
She has worked with a wide range of clients, from high-net-worth individuals to Fortune 500 companies, to structure their global operations. Sharon’s specialties include developing tax strategies, tax structuring, , tax planning involving intellectual property,. She has personally assisted clients with developing tax structures for acquisitions totaling over $45 billion throughout her career.
Sharon lives in New York City.
[LEGAL DISCLAIMER: Henry Lopez is not an attorney, and Sharon Winsmith may not be your attorney. Please be sure to seek your own legal guidance from your attorney before taking action on anything shared in this episode. Read our full Disclaimer.]
Tax Structuring for Wealth Building with Sharon Winsmith:
- After a successful career in tax you decided to open your own firm focusing on tax structuring and strategies to help your clients build more wealth. Please share the story of what led you to start your own firm.
- Why did you focus on helping others build wealth?
- When did you know you wanted to be your own boss? Who were early entrepreneurial influences?
- Why do I need to worry about building wealth? Isn’t growing my business enough?
- What are some of the particular challenges small business owners face as it relates to taxes and building wealth?
- Select Key Benefits of a Comprehensive Tax Strategy:
- Maximize profits through reductions in tax costs
- Develop a sustainable structure for your business operations and investments
- Provide flexibility for future dispositions of entities or assets in a tax-efficient manner
- Protect your assets against claims from creditors or lawsuits
- What are some common mistakes small business owners make when it comes to building their wealth?
- Do I continue reinvesting in my business, or diversify?
- What are a couple of the key things you consider when helping your clients develop Tax Strategies for building more wealth?
- How does my type of legal entity and corporate structure potentially impact my tax position and ability to build wealth?
- How often should I be reviewing my Tax Structure?
- How do I find the right tax professional to help me develop the right Tax Structure and plan to build my wealth? What questions should I ask?
- What’s the most important thing I should consider first as it relates to building wealth through my small business?
Episode Host: Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of Business podcast show – dedicated to helping you start, run and grow your small business.
Resources:
Books mentioned in this episode:
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- Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki
- The Greatest Salesman in the World Mass Market by Og Mandino
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