In this episode, I'm thrilled to reshare an episode from when I was a guest on the Rainmaker for Contractors Podcast. I share practical tax strategies specifically designed for businesses. We'll discuss how recent IRS changes might impact you, the importance of understanding your financial statements, and actionable tips to optimize your tax liability. We'll dig deep into why contractors might avoid their financials and how better cash flow management can drastically improve business health. Grab a notepad and prepare to transform your approach to managing your finances and taxes effectively!
What You'll hear in this episode:
[00:45] Guest Introduction: Shannon Weinstein
[01:10] Shannon's Background and Career Journey
03:35] Common Financial Mistakes Contractors Make
04:45] Importance of Cash Flow Management
[06:15] Proactive Tax Strategies for Business Owners
[11:35] IRS Audits and What to Expect
[16:25] Onboarding New Clients and Tax Optimization
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
