Statistics tell us that privately owned businesses pay more tax than the law requires. Privately owned businesses also pay more tax at higher rates than the Global 500. Because their tax professionals are better than yours.
We agree with those statements because it jives with our experience, that’s cause for alarm for every CEO out there. 98% of our clients were paying more tax than the law required when we picked them up.
Here is the primary reason from my perspective. Professional Performance.
“The best tax professionals (or best performers in any profession) are 100 to 1000 times more competent then average performers. A few outliers outperform the entire population by leaps & bounds. There is so much difference, top performers and average performers can’t even understand each other. It is not unlike IQ in that regard.”