The 2% Tax Strategy Every Entrepreneur Should Know - with Mike Milligan, CFP
The Proven Entrepreneur
Don Williams
0.0 • 0 Ratings
🗓️ 27 October 2025
⏱️ 20 minutes
🔗️ Recording | iTunes | RSS
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Summary
What if the secret to building wealth wasn’t working harder—but paying smarter?
In this episode of The Proven Entrepreneur Show, host Don Williams sits down with Mike Milligan, Certified Financial Planner and founder of 1 Oak Financial, to unpack the tax strategies and mindset shifts that helped him build a multi-million dollar business—while legally paying just 2% in total tax.
Mike shares his journey from counting cash in coffee cans for his grandmother’s cornbread sandwich hustle to becoming a bestselling author of The One-of-a-Kind Financial Plan. You’ll hear how desperation sparked innovation, and how real-life lessons shaped his mission to help entrepreneurs build wealth and reclaim time.
Topics Discussed:
- The #1 financial mistake entrepreneurs make (and how to fix it)
- Tax-saving strategies like the Augusta Rule and Section 179 depreciation
- Why Mike moved to Puerto Rico for tax optimization
- A real-life case study: how a realtor went from $40K to $1M net worth
- The importance of working with entrepreneurs—not employees
Listener Benefits:
- Learn how to legally reduce your tax burden
- Discover practical wealth-building strategies
- Get inspired by real transformation stories
- Understand how to reclaim time by outsourcing
- Hear why working with entrepreneurial advisors matters
Whether you're a founder, real estate agent, B2B leader, or aspiring entrepreneur, this episode delivers actionable strategies and real-world wisdom to help you thrive financially.
Transcript
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| 0:00.0 | Are you an entrepreneur looking for more free time, more money, or just looking for that success blueprint? |
| 0:11.6 | The proven entrepreneur is the podcast for you. |
| 0:14.6 | Host Don Williams and his guests share real success stories from proven entrepreneurs. |
| 0:19.7 | Here's your host, Don Williams. |
| 0:25.3 | Hey, Don Williams here with today's episode of the Proven Entrepreneur Show. I had a real |
| 0:34.4 | expert for you today, a financial expert, Mike Milligan from One Oak Financial. |
| 0:39.7 | Welcome to the show, Mike. It's nice to be here, Don. Thanks for the invitation. |
| 0:43.9 | Man, my pleasure. Thank you so much for coming. So tell us a little bit about One Oak Financial, |
| 0:49.0 | what you do, who you serve, why you do it, all that stuff. One Oak Financial is a dynamic financial services firm, headquartered in Norfolk, Virginia, |
| 0:59.3 | but we serve all of the United States, including all the way out to Hawaii. |
| 1:03.5 | I'm the founder of the firm. |
| 1:04.6 | It's it formed five years ago as a company called Ideas by Mike, currently has 21 employees. |
| 1:10.3 | With our partner employees, |
| 1:12.0 | we're over 100 in total. One of the things that's unique about this firm is that I've written a |
| 1:18.3 | book called the one-of-a-kind financial plan. See, one oak doesn't, it's not about a tree or about an |
| 1:23.9 | acorn. It's about being one of a kind, one oak. And we genuinely believe that |
| 1:31.7 | everyone is unique. They have their own stories. They have their own desires. They have their |
| 1:37.1 | own life to live. But they get bottled up in what the one size fits all. Financial World wants them to do with their retirement accounts, |
| 1:47.4 | their investment accounts, their life insurance, their retirement income. And what they're |
| 1:51.3 | missing is that the biggest expense you ever have is your taxes. And so we actually do tax |
| 1:57.6 | planning, retirement income planning. Then we do investments, long-term care |
| 2:03.5 | planning and legacy. It's all detailed in a book I wrote called the one-of-a-kind financial |
... |
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