Influential Entrepreneurs with Mike Saunders, MBA - Roma Pithadiya, President and CEO of Affordable Insurance and Financial Services Discussing IRS and Insurance

Episode Date: February 5, 2026

Roma Pithadiya is the President and Chief Executive Officer of Affordable Insurance and Financial Services (AIFS), a financial services and insurance advisory firm based in the Dallas–Fort Worth area of Texas. She is a seasoned financial professional and entrepreneur with extensive experience in insurance, financial planning, and wealth protection.Roma immigrated to the United States with limited resources and has built her career from the ground up, becoming a respected advisor to individuals, families, and small businesses in matters of health insurance, life insurance, auto and home protection, and long-term financial planning. She has been active in the financial services industry for well over a decade and is known for her deep commitment to client education and advocacy.She is also recognized as a Million Dollar Immigrant, a title reflecting her journey from starting penniless in the U.S. to achieving significant success in the insurance and financial advisory business.In addition to her executive role, Roma engages heavily in community service: she is active with the Lions Club, participates in senior citizen organizations, and serves on committees for cultural and religious groups. She frequently speaks on financial literacy and planning topics at national stages, including events hosted by CNN, the Harvard Club of Boston, New York Life, Nasdaq, and the MDRT (Million Dollar Round Table).Her expertise spans health insurance (including Medicare and individual policies), life and annuity products, retirement planning, and strategies for tax-efficient financial growth. Roma also works to empower clients to manage their finances wisely and protect their financial futures with well-structured, personalized solutions.Learn more: https://aifsgroupbyroma.com/Roma Pithadiya is not an attorney or CPA. Affordable Insurance and Financial Services does not provide legal or tax advice. Any discussion of financial strategies is general in nature and not a recommendation. Insurance and financial products involve risk and may not be suitable for all individuals. Licensing and availability vary by state.Influential Entrepreneurs with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/roma-pithadiya-president-and-ceo-of-affordable-insurance-and-financial-services-discussing-irs-and-insurance

Welcome to influential entrepreneurs, bringing you interviews with elite business leaders and experts, sharing tips and strategies for elevating your business to the next level. Here's your host, Mike Saunders. Hello and welcome to this episode of Influential Entrepreneurs. This is Mike Saunders, the authority positioning coach. Today we have back with us Roma, Pita Dia, who is the president and CEO of affordable insurance and financial services. and we'll be talking about taming the two monsters, IRS and insurance. Roma, welcome back to the program. Thank you, Mike.

Thank you for having this opportunity. It's my honor to be here. You're welcome, and I enjoyed our previous conversation. You've got a very clear way of explaining how you serve your clients, and this is a kind of a scary topic because anytime we hear the word monsters, we think, yep, that's pretty scary. And lo and behold, the IRS, that's a scary. that's a scary topic.

And insurance, that's a scary topic because people don't tend to understand either one of them. So where do you start when you're working with your clients that are business owners to help them understand how these many IRS regulations could potentially be an advantage to them? Most of the time, I have a business client, wealthy clients, they have a time only to make money. they don't understand the taxes and when the end of the year when they are paying the tax that time they do not have enough knowledge about the IRS so because of the people have a fear about the monsters iris feels like a monster that takes your money but it can be a strong financial friend when understand the rules of the IRS. And also people think that, you know, insurance is also paying cost of premium, premium, premium, premium. But also need to understand the strongest financial friend is insurance too. Because it's giving you back if you properly structured, properly planned, and properly maintain.

You know, you said a couple of points there that I want to really dive in a little bit deeper on because I feel like they're extremely important. Number one, the IRS regulations, meaning I think I remember hearing that the IRS tax code is something like 20,000 pages or 25,000 pages or more. Who can understand all of that, right? You need someone that is very proficient in understanding how that works. to guide the business owner on which one of those regulations is not going to hurt them, but actually be an advantage. So where do you help start with your business owner clients to help them navigate through which regulations can actually benefit them?

That's a great question. Actually, business owners often sees that IRS is a burden. Yeah. But tax code actually reward those who plans strategically. owners can use the IRS rules to reduce the taxable incomes through the qualifying retirement plan like a SEP IRA IRA, SOUL 401K, SLO 401K, cash balance plans, shift the income from high tax years to low tax years like using the different compensated strategies. Reductions, contributions made on the behalf of themselves, and employees use the business strategies like a C corporation, S corporations, LLC, and optimize

how the income is taxed and however the retirement contributions are made. And even though leveraging tax favorable accountings on the growth money without immediate taxisans, even though IRS does not just collect the taxes, It's provide a roadmap for legally minimizing them if you know where to look. You know, that's a really powerful point, which I feel like a lot of people hear any business owner might hear anything different and immediately think, oh, it wouldn't work for me and it must not be legal. But what I've seen in the industry and what you're saying right there, if you know what to do and how to do it and when to do it, it. It's all totally legal. You just have to follow what the IRS lays out. And this is nothing strange or odd with shielding income or officer accounts. It's just working within the IRS tax codes

that are there. But the typical business owner, there is no way that they understand it all because it's so vast. And also like a life insurance has a long-term care and also living benefits. IRS rules also change in the life insurance too. There is so many premium is also can be deducted in the section 7702 and other sections as well. If they can talk to their CPA, they can learn something more or they can attend my seminars because so many time I do the seminars with my CPA and with my attorney as a teamwork. And that time, everybody has a right question and they have answered also with the right financial professional. You know, that's really powerful because how can Roma know everything about everything? She can't.

But she brings in a tax professional. She brings in legal and the team then can help teach. You know, you brought up an interesting point that I want to make sure we clarify here. Sometimes when business owners hear the word insurance, they immediately. say, I'm good, I've got plenty, but you're not talking about the typical insurance that people see late night TV that says get $10 million worth of coverage for 10 cents and 10 minutes. You're talking about a really powerful way to use insurance for living benefits. Talk a little bit about what role insurance plays in creating this tax-free retirement strategy.

Okay, if I say that insurance is specially properly structured with the cash value life insurance can be powerful tool for the tax-free retirement because it's all about the cash value growth. It's a tax deferred. Loan can be taken tax-free. Distribution does not affect social security taxes. no requirement minimum distributions like RMDs. Even though death benefit also passes a tax-free to benefit beneficiaries, the business owners insurance can also fund by sale agreements, protect key employees, provide executive bonus plan, retirement plan, long-term care.

You know what? We have to understand that. We are business owners and our key employee and executive, you know, members in the business are the most valuable assets for us. And that's why their protection is also very important. And this is you can deduct as a business expense because it's all about the business. Just how? Talk to the CPA.

They can create a tax advantage income strategy and also we as a financial. financial advisor, we can build a tax-free retirement strategy. When used correctly, insurance become a private tax-efficient retirement vehicle. You know, I think a lot of people hear that and they start scratching the head thinking, wait a minute, there's a type of insurance that can provide tax-free income growth and transferring money to my heirs tax-free and borrowing against it. Well, they need to realize that this is a very special type of tool. And you said something very important that I want to repeat because it needs to be understood and it needs to be properly structured. So people hearing this should not think, oh, I'm going to go out on Google

and find one of those things and set it up because there's many facets of this type of plan. So talk a little bit about how working with a professional like yourself will ensure that it's properly structured for them. There you go. You know what, Google always like people say that, yeah, Roma, give me coat. Give me coat. I say, no, the things are gone. Yep. Now I have to structure.

I have to customize with your needs. And all that customizing the needs is the most important to have a life insurance. or any kind of retirement plan. If I don't structure properly, then Google is the best bet. And they will answer only the question, whatever you are looking for. But they won't know how to think in your best interest.

Exactly. And if you're asking me one question, then you have to answer my 10 questions to help me to structure your customer. customize your financial future. And if you are ready to answer my all of the 10 questions, then I'm okay to help you to build your financial structure strong and beneficiary. Yeah. So definitely don't take the shortcut and think Google is your friend. Sit down with a professional like Roma. You know, Roma, we've been talking about the IRS

monster and the monster of insurance, how can understanding the IRS and insurance make sure that the business owners can be transformed from looking at these two entities, IRS and insurance, like an actual, an adversary and turn them into an ally, a helpful friend? Because I don't think that most business owners think that the IRS and insurance are helpful friends. How do you help business owners realize that. Because you know what? Most people fear. The IRAs misunderstand the insurance.

But when they understand rules, regulations, strategies, then IRS tells you exactly how to reduce the taxes. Insurance provide legal tax-free income options. Insurance also has so many sections. Under the contract, that under that contract, you can apply as a premium can apply as a business expense. Together, they create the balance strategy of tax deferred, tax free, taxable buckets. You gain control, not confusion. You stop reacting to start planning.

knowledge turns this monster into powerful partner in the long-term care wealth building. Yeah. Oh, yeah. That's very important. You know, and I know you work with a lot of business owners and investors. What are some of the common mistakes that they make when dealing with the IRS and insurance? Because I'm sure that you talk to people that think that they understand everything and they have made some moves before coming to you and they're actually wrong moves.

what are some of those common mistakes? That is a great question. So many time people, I mean, all the business well-be business owners, they do not have time. If a big one shows up again and again, but waiting too long, they don't have a time relying on only on the taxable accounts like a 401k IRN without building a tax-free buckets. even though buying insurance without understanding how to structure it.

So sometimes they are paying the premium for the wrong insurance, which is not enough helpful for their needs. Somebody bought insurance, that's why I want to buy. Even bank is asking me life insurance. That's why I want to buy. But no, there is thousands of reason we can buy. we can buy the life insurance and premium is the most important to deduct as a business expense. Even though ignoring IRS incentives that rewards business owners,

even though no coordinating tax insurance and investment strategies together, assuming the IRS is the enemy instead of learning the rules and filling the review plan, annually as low the income change. That is the biggest mistake. Not having a strategy at all. No time, not at all. That's why I remember I told you CEO quarterly CEO day. That is the most important for the business owners.

So, Roma, do you play chess? You know what? Chess is the best game. Well, I was going to just make a comment so you'll understand this. You know how when you make a move and you leave your finger on the piece and you look around and you think, okay, is this the right move? Is this the right move? And your finger still is on the piece. So if you decide, nope, I'm going to do a different move.

You pull it back. Well, many of these things that you're describing remind me of making a chess move and you need to make sure it's the right one. But you cannot go out and just make that move and without evaluating. without having a professional like yourself properly structuring these moves because it could be a very wrong move. And you could be in checkmate really quickly with your business and your retirement. That is the reason. Check is the most important, right? A chase can destroy anybody anytime.

Yep. Yes. And the winner can be win if they know how to play the game. And as we know, chess is a very complicated game and you need to have someone that can guide you to know how to play that game. So the same thing with the IRS and insurance, that's a very complicated game, but it doesn't have to be if you're working with someone that knows how to navigate through those for your benefit. So if a business owner is interested in having maybe a second opinion or having you look at their plan to navigate through the. IRS or setting up some properly structured insurance. What's the best way that they can reach out and connect with you, Roma?

My name is Roma Picharia and phone number is 972-69333315. Also, they can go on my website, www, AIFS Group by Roma.com. And they can send me any question over there. I can answer any question. and also they can see so many blocks also over there may be valuable information they can find over there too. Perfect. Well, thank you so much for coming on. This has been very enlightening conversation, Brama.

Thank you. Thank you, Mike. Thank you, having me over here, giving me this opportunity, and I'm enjoying today. You've been listening to Influential Entrepreneurs with Mike Saunders. To learn more about the resources mentioned on today's show or listen to past episode, visit www. www.

www. influential entrepreneurs radio. com.