Dr. Noah Kaufman – Founder
Co-founded by a physician, Physician Tax Solutions understands the demands and sacrifice of modern day doctors.
It is our drive to help physicians amplify their earning potential and investment power by holding onto as much of what they earn as possible under the Tax Law. Unlike typical CPAs, our CPAs and Business Advisers are Tax Coach Certified, a designation only held by fewer than 1% of all tax preparers in the United States.
What makes you especially qualified to run this business?
I have a series 65 and have paid over a million dollars to the IRS in my career. As a physician, I know how naive we can be about money and what options there are for us out there. As an entrepreneur, I can create that value in the world and bring together my love of finance and medicine to help my colleagues keep more of what they earn.
How did you validate your business model?
Through hard work! We went through the motions and have enough clients now that the process is dialed. It’s always an evolution and going from 0 to 1 is always the most challenging step. Then it’s about improving quality, scaling and maximizing value for clients so that we can maximize referrals and happy customers. Always always put the client first.
Who is your ideal customer? How will you find them?
Physicians or small business owners making over $200,000 of 1099 or ordinary business income. We are using social media and I am writing helpful tax saving articles. Growing my brand to become a tax expert myself is one of the strategies and I am like a sponge right now, learning everything I can about the tax code and how to yes it for the benefit of our clients.
What KPIs are important to your businesses health right now?
Well, revenues from our strategic blueprints and new members are our most relevant KPIs naturally. We offer two main services: The Strategic Blueprint looks back at 2 years of taxes and create a sophisticated proactive model for the future to create dramatic tax savings and wealth for our clients. Then membership is when we implement those strategies for our clients. It is a month-to-month, cancel-anytime deal, so that forces us to create constant value for our clients. I am still a paying customer myself!
What would a successful exit look like?
I think we are looking at a $50M valuation in 3-5 years
“Power of Zero” by David McKnight – an amazing expose about how mistaken we are to bet on government sponsored retirement plans (401k, IRAs, 403b’s, etc etc.) a cogent argument for making your own plans (defined benefit, RPT’s, LIRPs, etc)
Favorite philosopher: Plato. Hands down. Such a clear-headed and original, timeless thinker.
Favorite quote: “The mind is its own place, it can make a heaven of hell and a hell of heaven.” – John Milton Paradise Lost
A CEO you follow: Elon Musk
Favorite documentary: Free Solo – Unbelievable look at a very special human being who also happens to be a friend of the family for many years.
Favorite artwork: Most works by Leonid Afremov
Favorite music: Miles Davis
What would your last meal be? A bowl of fresh fruits and vegetables, plain.
What is the meaning of life? Different for everyone. For me, life has no meaning, only direction, beginning and end.
What is your situation? (married, single, kids…) Married to another doctor, Siemay Lee, with a beautiful and very funny 7 year old boy named Zun.
What advice would you give your 20 y/o self? Keep going! You’re doing great!
What do you have left to do? SO MUCH! I could write a book on that subject. So many dreams left to explore. It’s going to be a super fun back nine