by: Mihye Joy

When I first opened my art studio and gallery as an S-Corporation in 2010, I can still remember the first meeting with my CPA. Not all business owners have a business and/or finance background that enables them to understand how business tax works, and I was one of them. He was trying to explain how my taxes worked, but it was like listening to a completely foreign language that came in one ear and straight out the other. I’m sure he was frustrated by explaining the same concepts over and over to me, but he did so in a very kind way. I worked day and night to keep my business running to make ends meet, and I was content in making more money than a full-time teacher, but come each tax filing season, I had to sit with my kind yet frustrated CPA and ask him the same questions about why I had to spend all of my savings to pay my taxes. This cycle repeated itself for about 5 years – Even though I still made more money than what I made  as a teacher, I still didn’t have any savings, nor did I have a retirement plan set up.

Over the years, I gained enough business knowledge and experience to become a financial advisor myself. I was able to use my experiences as someone who just got by financially to someone who was able to not only save money, build assets as well as wealth, as well as help others to do the same.

Instead of spending all of your savings to pay taxes, it is better to use that money to get services, plans and benefits for you, your employees and your family members.

Business Services

  • Tax Saving Plan (DCP/DBP)
  • Health and Dental Insurance
  • Life Insurance
  • Disability Income Insurance
  • Long Term Care Insurance

Qualified Retirement Plans

  • 401k Plans/ Profit Sharing Plans
  • 4013b Plans
  • Simplified Employee Pension Plans (SEP/IRA)
  • Money Purchase Pension Plan

Executive Benefits

  • Non-Qualified Retirement Plans
  • Tax-Deferred Compensation Plans
  • Key Person Insurance
  • Business Buy-Sell Insurance

What’s next? Finding the right plan saves you the most taxes, as well as protects your business and builds your assets. If you already have some plans in place, and you have not yet talked to a financial advisor, it’s time to look at your financial planning strategies, especially in light of the pandemic which brought so many changes to the financial world.

Mihye Joy
Cal Lic #0I98442

Mihye Joy has over 15 years of experience as a fine artist, educator and business owner. She is a graduate of California State University of Long Beach, where she earned a Bachelor of Arts as well as a Teaching Credential in Art Education. She also earned a Master of Fine Arts in Painting from the New York Academy of Art. Since 2004, Mihye has worked as an Art Instructor at the Orange County School of the Arts (OCSA) in Santa Ana, CA and since 2002 she is also the founder, owner and art director at Joy Art Studio & Gallery in the Anaheim Art District.

Mihye started another chapter of her career as a financial advisor in 2015, focusing on college savings plans and college financial aid planning. She has assisted many students to get scholarships to many prestigious colleges and universities, including Ivy League schools, private art colleges, universities in the UC and Cal State systems, as well as international schools by giving financial consulting services to parents and students.

Although Mihye has a multi-faceted career that may have disparate parts, Mihye has worked to integrate and package each of these services to provide value and results to her clients. Mihye’s experience in serving clients from varied cultural, financial and educational backgrounds, combined with her own diverse experiences as an educator, entrepreneur, and artist enables her to provide a rich portfolio of solutions to a wide range of customers.