As a man who loved to learn but hated school, the traditional professional services route was never in the cards for Dusty Rollins. So, Dusty fell into real estate as many of us do, and he embarked on the entrepreneurial journey. The time and financial freedom that entrepreneurship offers were a major draw for Dusty as they are for most people. But after his first profitable year, Uncle Sam came looking for his cut—a devastating blow to a business just getting on its feet. It prompted Dusty to perform somewhat of a self-study. He knew that in the 77,000-page United States tax code, there was a path to freedom; a way to defang the taxes for business owners across the country.
Bridging the Gap
If someone has a business and real estate on the side, it opens a portal to a wide range of tax planning options that Dusty can help them leverage. He is extremely versatile in the tax domain because his role bridges the gap between accounting and the IRS. Dusty is not a CPA, he is an enrolled agent meaning he can work with the IRS or even represent before the IRS. He is the big picture strategy guy, not a bookkeeper, so he approaches tax planning with a strategic edge that saves business owners tons of money.
One of Dusty’s clients was a general practitioner in medicine, which is an extremely tough market if you’re not specialized. So, Dusty and his client started with tax planning, where they saved $120,000 in tax cuts alone. Then, Dusty’s client used the savings to expand his business into other areas such as research and urgent care. The IRS was essentially building his retirement fund with this strategy, and all of it is 100% legal. These are not loopholes, these are laws that you can choose to take advantage of or discover on your own. If you want to learn more about Dusty’s tax strategies, listen to the latest episode of Real Estate Investing for Professional Men and Women.