PARSIPPANY, N.J., July 18, 2016 /PRNewswire/ -- Over 150 business owners learned how to reduce income and estate taxes during a presentation by author, speaker and financial advisor Salvadore "Sal" Salvo at Legatus' 2016 Summit at The Ritz-Carlton Orlando, Grande Lakes, in Orlando, Fla.
Other presenters included Rick Warren, author of Purpose Driven Life, the best-selling hardback book of all time; and Pat Lencioni, best-selling business author of 10 books that have sold over 5 million copies.
During the top-rated presentation, Salvo outlined the major challenges and obstacles that business owners face in today's complex tax and financial world. He showed attendees how to use a three-dimensional approach to money and how to "redirect" income and estate taxes away from taxes to family and charity using real-life business owners and their actual results.
Legatus, an international organization with over 4,000 business leaders, was founded by Tom Monaghan, best known for founding Domino's Pizza and Ave Maria University.
"Business owners who have been successful at building businesses are often surprised to learn that, in addition to taxes, there are other major obstacles to protecting, preserving and ultimately passing on their wealth," said Salvo. "Attendees are always pleasantly surprised to find out that they have many more options to reduce taxes, create tax deductions and protect their wealth than they were aware of."
According to the U.S. Census Bureau's latest statistics, in 2010 there were over 27.9 million small and medium-sized businesses, with only 18,500 businesses that have 500 or more employees. The Small Business Administration reports that small businesses make up 64 percent of net new private-sector jobs, 49.2 percent of private-sector employment, and 42.9 percent of private-sector payroll.
"Small and medium-sized businesses are critical to our country's future," Salvo continues. "They create 2 out of 3 new jobs and employ 1 out of 2 workers in our country. We are passionate about educating them on the options they have to protect their businesses and their personal wealth. That's why I teach, speak and write and it's why we created a unique wealth planning process. We have created a number of special reports for business owners, physicians and executives on www.SalSalvo.com to show successful wealth builders how to keep more of their wealth."
Salvo urges business owners to learn about the options that exist to reduce taxes and protect their wealth, pointing out that there are no monopolies on good ideas and that second opinions are always valuable.
More on Salvadore "Sal" R. Salvo
Sal Salvo is a nationally-recognized financial educator, author, speaker and wealth planner. Salvo has made guest appearances on CNBC's "Market Watch" and CNN's "Take it Personally." In addition, he hosted his own radio show for over three years, "From Success to Significance," which had over 2.5 million listeners. During the show, Sal interviewed successful business owners and other professionals.
He has published many articles on taxation and asset protection and he has been featured in the Wall Street Journal, Dow Jones Newswires, and Forbes.
Sal has also contributed to the books "Getting to the Heart of the Matter: A Revolution in Estate Planning for Wealthy Families" and "Midas Managers: How Every Business They Touch Turns to Gold." "The Serving Leader: The 5 Power Principles That Will Transform Your Practice and Turn Your Employees Into a Unified, Productive Team" and "Giving Transforms You: The Importance of Philanthropy."
With an expertise in income tax strategies, charitable planning, estate planning, and investment planning, Sal has conducted hundreds of seminars across the U.S. that empower business owners, physicians, high level executives, and other high net worth individuals. Sal has lectured at Rutgers University, Fordham University, Fairleigh Dickinson University, Kean University, United Cerebral Palsy, the Overlook Foundation, and many more.
Sal is the Co-Founder and Principal of Summit Financial Resources, Inc.
4 Campus Drive, 2nd Floor
Parsippany, NJ 07054
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SOURCE Summit Financial Resources, Inc.