When two physicians decided to expand their investments into real estate, they didn’t anticipate the administrative chaos that would follow. As their portfolio grew to include real estate, private equity, and a consulting business, the burden of managing these investments fell heavily on one spouse, leading to an overwhelming situation.

This is where Prosperent Co stepped in. Our first phase of Personal CFO services is Clean-Up—where we meticulously organize and streamline our clients' financials. Despite tight deadlines for tax planning and tax filings, we managed to get the personal expenses of this physician family into their Personal Books for 2023.

During this process, we discovered that several business expenses were being paid through personal bank accounts or credit cards and were not accounted for as business expenses. This oversight not only complicated their financial management but also resulted in unnecessary tax payments.

Our team meticulously examined each transaction, categorizing and reviewing them in detail. By sitting down with the couple and understanding their financial habits and challenges, we could tailor our approach to meet their unique needs. Through this thorough clean-up, we uncovered $6,228 worth of business expenses that had been paid personally. By accurately categorizing these expenses, we helped the family save $2,304 in taxes.

We understand that managing multiple investments and business ventures can be incredibly stressful. Our goal is to alleviate that burden and provide clarity and peace of mind. We’re not just your financial advisors—we’re your partners in prosperity, dedicated to helping you achieve your dreams without financial chaos.

This story highlights the importance of organized financial management and the significant impact it can have on your overall financial health. If you find yourself overwhelmed by the complexities of managing multiple investments and business ventures, it might be time to consider the comprehensive services of a Personal CFO.

At Prosperent Co, we’re dedicated to helping you live a better, more prosperous life. Let us help you achieve financial clarity and discover hidden savings in your financials. Speak with us today to find out how we can support your journey to true prosperity.