If you are concerned about paying higher taxes, or if this has been a recurring concern, we are happy to run a GapX-Ray for you. Please provide the information requested in the Client Financial & Tax Strategy Intake – Single to Multi-Business Owner (see below) so we can complete an accurate and thorough assessment.
What Is a GapX-Ray?
Our GapX-Ray is a structured diagnostic review that helps identify tax gaps, financial gaps, and protection gaps that may be costing you money or increasing risk without you realizing it.
It looks beneath the surface of your numbers to understand how money is flowing, how it is taxed, and how well it is protected.
What Our GapX-Ray Reviews
Tax Gap
. Why taxes are higher than expected
. How income and expenses are reported
. Missed or underused IRS-allowed benefits
. Structural or timing issues increasing tax exposure
Financial Gap
. Cash flow efficiency across one or multiple businesses
. Liquidity and access to capital
. Idle or underperforming assets
. Impact of growth or expansion on finances
Protection Gap
. Exposure to income interruption
. Business continuity risks
. Owner and key-person protection
. Long-term care and liability exposure
GapX-Ray: Tax Gap is a structured financial and tax diagnostic review designed to identify where money is being over-taxed, under-protected, or under-optimized.
It examines how your:
. Income is reported
. Expenses are classified
. Business structure is set up
. Cash flow moves
. Benefits are funded
. Growth and expansion are financed
so we can uncover hidden gaps that often lead to higher taxes year after year.
What GapX-Ray: Tax Gap Focuses On
. Why taxes are increasing despite business growth
. Which IRS-allowed benefits you may qualify for but are not using
. Where cash flow is leaking or sitting idle
. Whether business expansion is increasing tax exposure unnecessarily
. How current decisions impact future taxes, risk, and exit value
What GapX-Ray Is Not
. It is not a tax filing service
. It is not a product pitch
. It does not replace your CPA or attorney
GapX-Ray works alongside your existing advisors to provide clarity, strategy, and coordination.
Client Financial & Tax Strategy Intake – Single to Multi-Business Owner
| Document | What to Provide | Why This Is Needed |
| Prior-Year Tax Return | • Complete personal tax return (most recent year) • Complete business tax returns for each business | Shows how income was reported, deductions taken, entity elections, and what benefits were already used under Internal Revenue Service rules |
| Current Tax-Year Profit & Loss (P&L) | • Year-to-date P&L for each business | Determines eligible contribution amounts for retirement plans, insurance benefits, and tax-deductible strategies |
| Balance Sheet | • Current balance sheet for each business | Confirms business health, retained earnings, liabilities, and ability to fund IRS-approved benefits |
| Payroll Reports | • Owner and employee payroll summaries | Required to determine reasonable compensation, payroll-based benefit limits, and compliance |
| Owner Compensation Detail | • Salary, draws, distributions | Impacts which benefits can be contributed pre-tax vs after-tax |
| Existing Benefit Contributions | • Retirement, insurance, or benefit contributions already made | Prevents overfunding and IRS disallowance |
| Entity Elections & Filings | • S-Corp election confirmation (if applicable) | Determines which benefits are allowed, how they are taxed, and contribution limits |
Why This Matters
The IRS does not allow benefit contributions based on revenue alone. They are determined by:
• How income is reported
• Business structure
• Profit, not gross revenue
• Compensation rules and timing
Reviewing your tax return, P&L, and balance sheet together allows the Think & Grow Strategist to:
• Identify which benefits are allowed
• Calculate how much can be contributed legally
• Avoid IRS disallowance or penalties
• Design tax-efficient strategies instead of guesswork
A few GapX™ solutions are designed to help minimize taxes.
Some help reduce taxes today, some improve tax efficiency over time, and others help prevent large tax events that often occur during illness, business exit, or at death.
The goal isn’t to hide income.
It’s to strategically manage when income is taxed, how it is taxed, and whether certain taxes can be reduced or avoided altogether—within IRS guidelines.
GapX™ Solutions
| GapX™ Solution | Primary Tax Reduced | How It Minimizes Tax |
| GapX™ BizCover | Income tax • Payroll tax | Redirects business expenses into IRS-allowed benefit structures instead of pure expenses, reducing taxable business income |
| GapX™ FundMultiplier | Income tax (future) | Converts taxable income into tax-advantaged growth and future tax-free distributions (when structured properly) |
| GapX™ WealthFlow | Income tax (future) | Allows capital to grow tax-deferred and be accessed tax-efficiently, reducing reliance on taxable withdrawals |
| GapX™ SmartExit | Capital gains tax | Structures business exit and transition to reduce or defer capital gains at sale |
| GapX™ HeritageFlow | Estate tax | Creates liquidity and tax-efficient transfer so estate taxes don’t force asset liquidation |
| GapX™ LegacyImpact | Income tax • Capital gains tax • Estate tax | Uses charitable structures to reduce current taxes while fulfilling legacy goals |
| GapX™ CareGuard | Income tax (indirect) | Prevents forced taxable withdrawals to pay long-term care expenses |
| GapX™ IncomeShield | Income tax (indirect) | Protects income stream so clients don’t drain taxable or retirement assets during disability |
This is why reviewing:
• Prior tax returns
• Profit & Loss
• Balance sheets
is required before recommending any solution.
We highly recommend that you invite your CPA, attorney, and financial advisor to attend the meeting with you, if applicable.