Ep. 068: My CPA Reveals his Best Tax Strategies for Businesses w/ Grant Booth

In this episode, host Ryan Snaadt welcomes Grant Booth, CPA and partner at Jacobsen & Company, to discuss the ins and outs of accounting, financial planning, and tax strategies for small businesses. From understanding profit margins to navigating common accounting mistakes, this conversation is packed with practical advice for entrepreneurs and business owners.💡 What you'll learn:-Why knowing your profit margins is critical-Tips for scaling your business smartly-Common tax write-offs you might be missing-The importance of proper tax planning-Insights into Grant's journey as a CPA📌 Timestamps0:00 - Introduction: Importance of profit margins0:55 - Meet Grant Booth: CPA and partner at Jacobson & Company2:27 - Why small businesses need professional financial guidance6:51 - How Grant started in accounting and became a partner11:03 - Understanding margins in different business types17:24 - Scaling smartly: Hiring, delegation, and growth strategies23:48 - Tax efficiency for high-income earners35:07 - Understanding S-Corps and LLCs for tax purposes39:15 - Overlooked tax write-offs for small businesses51:52 - Common accounting mistakes for business owners1:00:08 - Financial strategies: Saving, planning, and efficiency1:06:43 - Unique approaches at Jacobson & Company1:08:36 - Wrapping up: Building work-life balance for CPAs📢 Subscribe for more episodes!Don't miss future episodes where we bring in industry experts to share their knowledge and insights.Thanks for tuning in for this episode of the Rhymes with Odd podcast. Make sure to subscribe to catch future interviews. Follow on TikTok: @rhymeswithoddFollow on Instagram: @rhymeswithodd#RhymeswithOdd #BusinessPodcast