At Alchemy of Money, we’re here to guide you through the Alchemy 5 Steps to Freedom Plan.
Step 1: Produce Accurate and Consistent Financial Statements
Let’s kickstart your journey by generating monthly profit and loss statements and balance sheets tailored to your real estate business and tax strategy needs. This involves tasks like setting up new bank and credit accounts (if personal and business expenses are mixed), connecting them to reporting software, and streamlining your income and expenses. We’ll also look at any necessary adjustments to existing entities or the establishment of new ones if needed. If you require profit and loss statements and balance sheets for previous years, we’ve got you covered.
Opportunity: The secret to boosting your profitability lies in the details within your financial data. And guess what? We’ll help you get that data quickly and consistently, while also training you to interpret and analyze it effectively with our coaching services.
Step 2: Proactive Tax Compliance and Planning
Let’s make tax compliance a breeze! We’ll ensure you’re up to date with your taxes and, if necessary, assist you in setting up a convenient payment plan with the IRS. No more last-minute tax hassles! But that’s not all. Our experts will explore strategic opportunities to proactively reduce your taxes every year with our Strategic Plan offering. We believe in maximizing your tax benefits and freeing up more cash for your investments.
Opportunity: Say goodbye to sleepless nights worrying about your taxes! Our proactive approach not only handles your tax obligations but also uncovers innovative ways to save money, giving you peace of mind and financial freedom.
Step 3: Annual Financial Planning and Tracking
It’s time to take your financial goals to the next level. Our Alchemy Certified Financial Planner will work with you to develop a comprehensive, written, multi-year financial plan. We’ll look at investment, cash flow, retirement, tax, estate, and insurance planning as well as planning related to family members, and importantly, we’ll track it.
Opportunity: By envisioning where you want to be, we can create a personalized plan to help you get there. This step is all about evaluating your life, setting clear goals, and identifying the specific actions needed for progress. Don’t forget about tracking! If you don’t track it, you can’t improve it!
Step 4: Establish an Estate Plan
We understand the importance of taking care of your loved ones. In this step, we advise that you find a local resource to help you create an estate plan, which includes preparing a will, considering power of attorneys, and creating other essential legal documents.
Opportunity: No one wants to leave their family in a state of confusion. An estate plan will provide you and your loved ones with peace of mind, knowing that everything is in order, even in unexpected circumstances.
Step 5: Implement a Proactive Maintenance and Growth Plan
To sustain your financial success, it’s crucial to have a proactive maintenance and growth plan. We’ll schedule regular calls with our dedicated team members, ensuring timely updates and support. Expect monthly check-ins with our bookkeeping experts, biannual meetings with our tax professionals, and yearly consultations with our financial planner.
By following the Alchemy 5 Steps to Freedom, we’ll not only enhance the clarity and organization of your financial processes but also help you build a comprehensive plan for your real estate business and personal finances, so you can achieve your goals faster and with more ease.
Let’s embark on this exciting journey toward financial freedom!
