Listen to “#809 The Best Tax Strategies Every Small Business Owner Should Know” on Spreaker.
On this episode of The Small Business Radio Show…
Segment 1 with Spencer Carroll starts at 0:00.
Taxes…there isn’t another word that sends shivers up the spine of a small business owner or gives them such a feeling of dread- but it really doesn’t have to be that way. There is help to put together sound strategies so you don’t dread April 15th and get to keep more of your money.
My first guest is Spencer Carroll who is an experienced CPA with a background in public accounting and tech startup sales. He’s also an accounting professor and owns a small real estate business. His accounting background and love for entrepreneurship was the perfect combo for Gelt, where he leads the sales team and helps clients optimize their taxes.
We talked about:
- Being a responsible business owner (keeping business and personal separate, maintaining clean and accurate books, deductible vs non-deductible)
- Q4 opportunities
- What happens to your taxes if you don’t do this correctly
- How a good foundation can lead to better tax results
- Creative strategies (entity selection, flowing funds from one entity to another, paying kids, Augusta rule, vehicles and other travel costs, PTET)
Segment 2 with Rachel Richards starts at 14:50.
How you structure your business – whether it’s a C, S or LLC has an impact on the taxes you pay. Also, when you sell your company, the amount of money you keep has to do with how you structure the deal so its tax efficient.
Here to help is Rachel Richards who is a seasoned CPA with over a decade of experience in public accounting. Before joining Gelt, she dedicated her career to helping clients navigate complex tax laws and maximize their financial outcomes. Driven by a passion for providing exceptional tax service to a wider audience, Rachel joined Gelt in 2021. At Gelt, Rachel & her team are passionate about developing personalized, efficient, and compliant tax solutions for customers while empowering tax professionals with cutting-edge technology.
- Business Structuring
- he best business structure highly depends on your goals and current financial needs
- Tax implications of different business structures
- M&A and Tax Optimization
- Don’t wait until you have an offer to start thinking about M&A
- The Best Solutions are Personal
- Your tax situation is unique and your solutions should be too.
- Great results often require professional planning
- Power of AI-assisted tax services
This show is sponsored by Gelt.
Gelt is a modern tax company designed specifically for business owners and high-income earners. They use expert CPAs and proprietary technology to simplify the complexities of tax planning and filing with a personalized approach. If you’re ready to optimize your tax experience, don’t wait for “tax season”, schedule a call today, and get 10% off your first year of service, when mentioning Barry Moltz.
