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Kingdom Minded Ventures

Kingdom Minded Ventures

ANDREW ABDALLA

CASE STUDY: OVER $23,000 IN TAXES SAVED ANNUALLY
CLIENT FILE: ANDREW ABDALLA, PRESIDENT
COMPANY: KINGDOM MINDED VENTURES, LLC

Tax Savings Report

Over the past 25 years, Andrew’s IT career spanned both software application development and business intelligence. He has gained a lot of business experience, added many new skill-sets, and worked with a number of wonderful people. As Andrew climbed the ladder of “success” he felt an ever increasing void of “joy and satisfaction” in his pursuits.

This led him to rethink his “why” and once and for all replace the pursuit of “stability and comfort” with significance. As a result, in 2015, Andrew started Kingdom-Minded Ventures which allows him to passionately work toward a vision rather than merely striving for a paycheck.

Andrew and his family chose to eliminate all debt and voluntarily limit their spending in order to generously support God’s Kingdom purposes as they are lead. For the first time, they knew “in their hearts” that their relationship with their Heavenly Father gave them the freedom to be stewards and trust in Him as Owner and Provider. The truly amazing reality for them is that provision really does follow vision!

In talking with Andrew, you can’t help but hear his “why” speak volumes to you. Andrew says, “As a Kingdom business leader, I believe that this company represents a different paradigm in the marketplace. Business is not just about building wealth merely to provide stability and comfort, but rather an exciting opportunity to use the marketplace to improve the lives of those around us. Instead of using people to make money, we are called to serve those around us and provide value for a higher purpose.”

Andrew’s desire to be a good steward over his business is evident in all that he does. A meeting with a business acquaintance that asked him if he was working with a tax advisor or just a tax preparer got the wheels spinning in his mind and led him on a quest to strengthen the team of professional advisors he works with. That quest consummated in forging a relationship with tax and financial strategist Ike Ikokwu. As a believer with like-minded values, Ike knows that part of being a good steward over a business is recognizing that we are called to give unto Caesar what is his and unto God what is His.

What Ike has been able to do is arm Andrew with unique strategies to legally and ethically define exactly what belongs to Caesar. The results for Andrew were the ability to pay over $23,000 less in income taxes annually, increase his cash flow, and put him on the path to being able to accumulate more wealth over the long term.

MSP Data Systems, INC

MSP Data Systems, INC

Shaukat Parpia

CASE STUDY: OVER $75,000 IN TAXES SAVED ANNUALLY
CLIENT FILE: SHAUKAT PARPIA, PRESIDENT
COMPANY: MSP DATA SYSTEMS, INC

www.mspdata.com

TAX SAVINGS REPORT

Shaukat Parpia, is an entrepreneur who started his first IT business in Tanzania at the age of 20. This was back in 1998. However, since migrating to the US in 2001, he worked with various companies until he eventually founded MSP Data Systems in 2005. Under his leadership the company has grown from a small operation to a large 25,000 square foot facility and continues to expand. With 17 years’ experience in IT business, Shaukat is poised to get MSP to the next level.

 

Since its inception in 2005, MSP Data Systems (“MSP”) has grown to become one of the world’s fastest growing distributors of servers, server parts and networking products. Their motto from day one has been “the ultimate customer satisfaction”, and that’s the reason they would go that extra mile to keep their customers happy and eventually win more business.

MSP was created on May 1, 2005 in Longwood, Florida. Shaukat first started working with Ike in March of 2008. Just 3 years after starting MSP, Shaukat was experiencing a lot of growth with sales into the millions and a federal income tax bill in excess of six figures. Beyond the growing income tax liability, Shaukat had not done much retirement planning and had no estate plan to speak of. He engaged Ike to develop a comprehensive tax and financial plan with his business at the center of the plan.

What Ike was able to do was arm Shaukat with unique strategies to better protect the assets of his business from unsuspecting litigants, legally and ethically reduce his income taxes, implement an estate plan, and create tax-free retirement income for him and his wife. The results for Shaukat were were multi-six figures in estate tax savings, paying 50% less in income taxes annually, experiencing increased cash flow annually, and having an account that will generate multiple six figures in annual tax-free retirement income when Shaukat and Parveen, his wife, retire in their 50’s after almost 30 years of service at MSP. As MSP continues to grow, Ike has offered additional strategies to provide thousands of dollars in cost savings to MSP and ultimately increase their profitability.

Mark & John McCone

Mark & John McCone

Mark & John McCone

CASE STUDY: OVER $96,000 IN TAXES SAVED ANNUALLY
CLIENT FILE: MARK & JOHN MCCONE, PRES & VP
COMPANY: SUBSTATION K, INC.

www.substationk.com

TAX SAVINGS REPORT

Mark McCone (far left in picture), is an entrepreneur who took advantage of a spin off by Northwest Teleproductions, purchased, and became the majority owner of Substation K in 1993. His son and heir apparent, John McCone (middle of picture) purchased a minority interest in 1994. Under Mark and John’s guidance as President and Vice President, the company has grown each year and garnered many awards in the media production space.

Substation K (“SK”), based out of Kansas City, Missouri, has been a media production company for over 22 years. They are engaged in the video editing of commercials and have created many award winning commercials. The market they serve includes a wide range of clients such as: Walmart, Sonic, Dairy Queen, Missouri Lottery, Kansas Lottery, McDonald’s, Big O Tires, Science Diet, Blue Bunny Ice Cream, Belfonte Ice Cream, Quiznos, Yoplait, Hertz, Garmin, Price Chopper Groceries, Tops Groceries, Build-A- Bear and Hallmark Behind The Scenes.

Mark and John first started working with Ike in March of 2007. At the time, SK had sales in excess of $1,690,000 and Mark had a federal income tax bill in excess of $117,000. Beyond the bulging income tax liability, Mark wanted to set up other retirement plans that would just benefit him and his son. He engaged Ike to develop a comprehensive tax and financial plan with his business at the center of the plan.

What Ike was able to do was arm Mark with unique strategies to better protect the assets of his business from unsuspecting litigants, legally and ethically reduce his and John’s income taxes, and implement a legally discriminatory retirement plan that would create tax-free retirement income for him and John. The results for Mark were paying over $83,000 less in income taxes annually, experiencing increased cash flow annually, and having an account that’s projected to generate well over $70,000 in annual tax-free retirement income when he retires. For John, his results were paying over $13,000 less in income taxes annually and having an account that’s projected to generate well over $250,000 in annual tax-free retirement income when he retires.

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American Building Interiors

American Building Interiors

Jim Brennan

CASE STUDY: OVER $56,000 IN TAXES SAVED ANNUALLY
CLIENT FILE: JIM BRENNAN, PRESIDENT
COMPANY: AMERICAN BUILDING INTERIORS

www.abi-inc.net

Jim Brennan, is an entrepreneur who got into construction by starting American Building Inspections in 1987 in California. They originally did residential inspections but two years later, after moving to Florida, he changed the name to American Building Interiors (ABI) and began renovating hotels. Under Jim’s guidance as President, the company has grown each year and diversified their offerings in the construction space.

ABI, based out of Fort Myers, Florida, has been in the hotel renovation business for over 25 years. Their offering is diverse. Although they specialize in hotel renovations, they are flexible and are able to tailor their services to each individual property. Whether a multi-story resort property or a small exterior corridor motor lodge, they have the ability to efficiently adjust for the individual challenges that each layout presents.

Jim first started working with Ike in November of 2006. Their company had steadily grown since inception, overcoming the usual ebbs and flows of the construction industry. At the time, ABI had sales in excess of $2,500,000 and Jim had a federal income tax bill in excess of $74,900. Beyond the bulging income tax liability, Jim had not done much retirement planning and had no estate plan to speak of. He engaged Ike to develop a comprehensive tax and financial plan with his business at the center of the plan.

What Ike was able to do was arm Jim with unique strategies to better protect the assets of his business from unsuspecting litigants, legally and ethically reduce his income taxes, implement an estate plan, and create tax-free retirement income for him. The results for Jim were $375,844 in estate tax savings, paying over $56,000 less in income taxes annually, experiencing increased cash flow annually, and having an account that’s projected to generate well over $70,000 in annual tax-free retirement income when Jim retires. As ABI continues to grow, with sales of almost $7,000,000 in 2015, Jim continues to see the value in both the tax plan that was implemented and in his ongoing relationship with Ike.

How To Change Negative Perceptions Of You

How To Change Negative Perceptions Of You

Are you one of those who has grown beyond the insecurities of others perception of you?  If that’s you, I want to congratulate you.  But what if this strength of yours could actually be one of your biggest weaknesses?

 

Despite being a Harvard grad, an acclaimed author and being named US Bankers Top 25 Most Powerful Women in Finance, Carla Harris, an African American Senior VP at Morgan Stanely says “The work you do is less important than how others perceive you and your work.” The fact is, as Carla says, perception is the co-pilot of reality.  So, if others negative perception of you and your work is holding you back from the success you deserve, do what Carla did and change their perception with your actions and language.

 

To change the perception on Wall Street that she wasn’t tough enough, Carla would conduct meetings and negotiations with such tenacity, that people were now cautioned before going into meetings to be prepared because she was tough.  In bio’s given to anyone introducing her at a speaking event, Carla carefully chose the right set of adjectives to describe just how tough she was.  Within a very short time, she flipped the switch on others negative perception on her, which allowed her to ascend to the heights of success in her field.