020: Tax Strategy Secrets: The Due Diligence Project's State of the Union 2025

The Due Diligence Project™ Podcast

Episode Summary: In this March 2025 "State of the Union" address, Due Diligence Project founder Alex Sonkin joins host Paul G McManus to discuss the growth and achievements of their tax professional community. They explore how their network of 847 independent CPA firms collaborates to vet tax strategies for ultra-high-net-worth clients, delivering significant tax savings while maintaining compliance.

Key Topics Covered:

• Community Growth: How the DDP has built a nationwide network of experienced tax professionals who collectively review strategies
• Member Success Stories: The financial gains reported by member CPAs, with some generating 7-figure additional fees
• Investment Projects: Their involvement in film financing for movies featuring Sylvester Stallone and Mark Wahlberg
• Charitable Impact: How tax savings have funded the Mitchell Thorpe Foundation, providing medical care for 200 families with sick children
• AI and Tax Planning: Why human expertise still outperforms artificial intelligence in complex tax strategy development
• Tax System Perspectives: Their views on IRS practices and media representation of tax strategies
• Upcoming Events: Preview of the Due Diligence Project Summit on May 7, 2025

Featured Quotes: "For the last 30, 40 years, the computer geeks have ruled the world... The tax geeks are helping business owners eliminate costs, become more efficient, eliminate unnecessary tax, and then save that money to create more jobs." - Alex Sonkin

"We're a community of accountants. These are risk-averse people. We are not here to break laws. We're here to stay within the black and white lines." - Alex Sonkin

Resources Mentioned:

• The Due Diligence Project Summit: May 7, 2025 (9am PT/12pm ET)
• The Due Diligence Project Book: Featuring the "10 Pillars of Extraordinary Due Diligence"
• Website: www.duediligenceproject.com

This episode highlights the achievements of the Due Diligence Project community over the past year and provides insights into how their collective approach to tax strategy vetting continues to benefit wealthy clients and their communities.

Chapters

1. Welcome to The Due Diligence Project (00:00:00)

2. Building the Largest Tax Geek Community (00:14:30)

3. Record-Breaking Results for CPAs (00:28:18)

4. The Truth About Media and Tax Strategies (00:42:13)

5. Making a Difference Through Tax Planning (00:57:11)

6. The Future of Tax Planning Excellence (01:12:22)