In other words, instruct your new part-time CFO to take some time to figure out the big “macro” stuff like How incorporating can save you thousands of dollars a year on taxes because you don’t have to take all your income as W2 income.
How writing off more expenses can seriously slash your tax bill (and discovering all the types of things you could be writing off).
Forget deductions … Identity which Tax Credits you qualify for and aren’t taking? Credits are WAY better than deductions! How to turn your side hustle or hobby or even your kid’s interests into a business so you can take advantage of all the tax-saving strategies available to small business owners.
How to work with your bookkeeper, accountant, or CPA and ask them the right questions so you can help them save you even more on taxes. Your accounting and tax team should be its own DEPT in your business and they should be bringing enough new ideas to the table to PAY FOR THEMSELVES and get more to the bottom line for you!! Yet most business owners simply view accounting as a pure expense and one that should be as cheap as possible.
In reality, this approach costs them the most as we see for the number of taxpayers overpaying by $1 BILLION EVERY YEAR.