Larry Layton

I have been a self employed CPA tax preparer for over 20 years. I truly enjoy coaching individuals and small businesses in how not to focus on the taxes owed, but focus on increasing income. I have seen too many taxpayers so intent on reducing their tax that they miss the point of being in business. Every year I give the same lecture to new clients – to get a deduction, they have to spend money. Spending a dollar to save 30 cents tax is not a good investment. Many business owners are so busy spending money to save taxes that they are unable to grow their personal wealth. The goal of a small business should be to grow income so that they will owe tax. Think about it! If the tax bill is zero, they didn’t make any money. ...More That is not okay! Chasing tax deductions will keep them from building a successful business and becoming wealthy.

I also enjoy helping clients with social security planning. I help them with 1) understanding the disadvantages of ultra low S-Corporation social security tax saving salaries; 2) how to take advantage of spousal benefits to delay the benefits of the higher earner and achieve higher combined lifetime benefits; and 3) understanding the impact of income tax on social security benefits and how to juggle RMD’s to minimize that tax. (Thank Reagan and Greenspan for implementing this tax in 1983. This tax applies to a base level of income that has never been adjusted for inflation so more taxpayers are hit with this each year.)

I am a very strong advocate of dividend-growth stocks and regularly discuss them with my clients. I get a definite sense of accomplishment when I can see the light come on in my client’s eyes when they finally “get” dividend-growth stock investment. The highest hurdle is getting them to understand that dividends are paid “per share owned” regardless of the market price and, as long as dividends grow over time, their income will also grow over time. Dips in market price actually give them opportunities to buy more of a good holding.

I am a huge fan of Seeking Alpha and enjoy the regular posts from Chuck Carnevale (F.A.S.T. Graphs are awesome!), David Fish, David Van Knapp, Dividends4Life, and Robert Allan Schwartz to name a few.