Certified Public Accountant Duties. Examine Financial Records: CPAs analyze financial records to prepare tax returns, create budget reports, and conduct audits for their clients. These accountants ensure that financial records comply with federal, state, and local laws and regulations.

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This is an amazing resource to have. Everyone needs to make sure they're accurately accounting for their income based on IRS Guidelines.

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Here is where our CPAs differ. One of my CPA mentors says, "The reality is that only about 30 pages of the tax code are about raising money for the government. The majority of the law spells out business and investment incentives, which is why it is best to hire a CPA who can develop a tax strategy."

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Notice that he says, "investment incentives". This is different than what the pundits like to call "loop- holes".

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Our CPAs partner with our financial advisor and provide a for- ward-looking tax plan combined with an investment plan to maximize tax incentives and maximize return.

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I have surveyed and trained over 20,000 financial advisors. When it comes to financial advice, I know the needs of business owners and entrepreneurs are quite different from someone who is a diligent saver and investor. The goal of 99% of financial advisors is to put your money in the stock market, buy and hold. If they are buying and holding are they managing your account? What are your advisors doing to protect from declines in the market? You can save  what your advisor is charging you, invest in the S&P, ride the upside bull markets and ride the downside  market declines.  True management is managing your taxes, maximize your wealth, income and legacy.

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In addition, most people save in tax-deferred accounts. These tax-deferred strategies frequently lead to people paying more tax than they otherwise would have with a better tax-managed strategy over the years. The biggest fees that we pay that hinders our wealth are taxes.

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On the other hand, I have business owners asking me which company they should invest in. I always say your best return is buying your own stock or investing where you can get tax incentives or tax credits that put more of your profits in your pocket rather than the government's.

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In both cases outlined, the best method is to have a CPA and financial advisor working together.

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The third professional in our Triangle of Wealth is a lawyer. A lawyer is key for business owners, entrepreneurs, and anyone who wants to protect their wealth.

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There are two key foundations to discuss: one for business owners and one for high-net-worth families.

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For business owners, you need to have the right entity structure. Should you be a sole proprietor, limited liability company, S corporation, or C corporation? The entity you started out with may not be the entity you need now.

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For high-net-worth families, you need estate planning. The first reason is to avoid probate. Probate will tie your money up in the courts for 9 months or more. Probate will cost your family 5% of your gross estate in legal fees to get through the process. The other reason you need an estate plan is to protect your family from the 40% estate tax your estate is subject to when you die.

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As you can see the advice CPAs, financial advisors, and lawyers give all have investment and tax consequences. It's best to have them on the same page.