If I told you that there was a secret to saving more money in your business each year, would you want to know it?
As you’ll hear Kyle Durand, business and tax attorney, say in this episode, entrepreneurs paid around 6.6 billion dollars in late payments last year alone.
And based on what he said, particularly around tax deductions, it’s likely you contributed a chunk to that 6.6 billion dollar pot.
Let’s be clear though.
The point of this episode isn’t to scare you into changing your habits around how you handle your business finances. It’s to show you that there is a better and easier way that offers you financial freedom and peace of mind.
Plus, you can use all of that money you save to invest back into your business, your team members, and yourself.
Stick around until the end to find out which deadline is coming up at the end of January for US citizens – especially if you have an affiliate program or have ever hired a contractor or vendor.
Here is what you will learn in this podcast:
- What FATE stands for and why every entrepreneur needs to know it to thrive in business
- Which three legal pillars you NEED to have to save 2-3 thousand dollars per year
- [US Citizens] Which forms you might need to send out by the end of January that you didn’t know about for your contractors, vendors AND affiliates
- How Kyle cut a client’s tax bill from owing $10,000 to the IRS paying him $29,000 through knowing tax deductions
- Four actions you can take today to set yourself up for financial tax success this year
- One integral step to take to make sure you keep Uncle Sam happy this year with every deadline
- Which tasks can and cannot be automated when it comes to finances and taxes
- One cautionary tale about why you should NEVER mix your personal and business income
- What the IRS expects to see from you as a businessperson
Even better pick up my completely free book on `How to Start a Podcast that Matters’ at suitcaseentrepreneur.com/free by leaving a short review on my podcast.
Connect with Kyle and Natalie
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For finances, you don’t want to mix business and pleasure: track income and taxes separately. @kpdurand via @suitcasepreneur
Say hi to Natalie on @suitcasepreneur
Key sites mentioned in this podcast:
- Kyle Durand
- Tax Receipts
- Easy1099 – The app you’ll need for filing for affiliates, vendors, or contractors
- Most Common Tax Deductions
- Tax Deadlines
- Wave Accounting – free online accounting system
- Chase Sapphire Card – Great for travel/points
- American Express Rewards Gold – Great for travel/points
Liked this session? Please let me and Kyle know!
If you enjoyed this episode and have 3 seconds, please let me and Kyle know on Twitter by clicking on the link below:
Leave me a voicemail!
Every once and a while, I’ll be recording podcast episodes based on precisely you want to know, so if you have any questions that you’d like potentially answered on the show, feel free to leave me a voicemail on my Speakpipe page!
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