
Unlocking Hidden Tax Strategies: Save Big on Your Painting Business's Tax Bill
09/20/24 • 23 min
Ever wondered how to keep more of your hard-earned money from the taxman? In this episode, we reveal game-changing tax strategies that can help professional painters and other business owners slash their tax bills and boost their savings. From understanding government incentives to restructuring your business, we provide you with actionable insights that have already saved our clients thousands. Richard and I delve into the importance of tax planning as a year-round activity and show you how to leverage tax-favored savings accounts like IRAs and 401ks for more than just retirement.
We also explore savvy strategies for handling real estate investments and unearth hidden opportunities through IRS tax transcripts. With only a few months left in the year, now is the perfect time to evaluate your financial outlook and make strategic adjustments to maximize your 2024 tax savings. Don’t miss out on joining our "Grow Your Painting Business" community for personalized advice and a free tax savings analysis. Tune in and take the first step towards a more profitable future!
Get your FREE tax savings analysis here:
https://bookkeepingforpainters.com/free-tax-analysis
Ever wondered how to keep more of your hard-earned money from the taxman? In this episode, we reveal game-changing tax strategies that can help professional painters and other business owners slash their tax bills and boost their savings. From understanding government incentives to restructuring your business, we provide you with actionable insights that have already saved our clients thousands. Richard and I delve into the importance of tax planning as a year-round activity and show you how to leverage tax-favored savings accounts like IRAs and 401ks for more than just retirement.
We also explore savvy strategies for handling real estate investments and unearth hidden opportunities through IRS tax transcripts. With only a few months left in the year, now is the perfect time to evaluate your financial outlook and make strategic adjustments to maximize your 2024 tax savings. Don’t miss out on joining our "Grow Your Painting Business" community for personalized advice and a free tax savings analysis. Tune in and take the first step towards a more profitable future!
Get your FREE tax savings analysis here:
https://bookkeepingforpainters.com/free-tax-analysis
Previous Episode

Effective Strategies for Hiring and Team Building in Painting Business with Amer from Contracting.com
What if you could transition from a mundane bank job to thriving as a sales manager in the painting industry? Join us as we unravel the inspiring journey of Amer, who did just that, guided by the mentorship of Michael Holly. Amer shares the invaluable lessons he learned, from the critical importance of integrity and keeping promises to the nuances of managing expectations. Listen in to discover how Michael's mentorship led Amer to join a franchise, resulting in phenomenal success in his first year, despite starting with no initial connections or reputation.
In our conversation, we delve into the essence of hiring top talent for business growth, emphasizing that leaders must first become 'A players' themselves. Drawing from Amer's personal and professional experiences, including impactful moments from his time in Amman, Jordan, we explore the foundational steps to building a successful team. The episode introduces the reflective poem, "The Man in the Glass," as a tool for evaluating one's integrity and worthiness as a leader, underscoring self-improvement and maintaining a solid business framework.
Finally, we break down the effective hiring process crucial for growing a painting business. Learn detailed strategies for recruiting, hiring, and training high-quality employees, from generating a large pool of applicants to conducting practical assessments. We discuss common misconceptions about skilled workers and the importance of treating employees as valued customers. Surround yourself with high-quality, like-minded individuals to achieve success, and actively engage with communities to leverage collective wisdom. This episode is packed with actionable insights and strategies to help you elevate your business to new heights.
Link to learn more about contracting.com:
https://go.contracting.com/
Next Episode

Harnessing Real Estate Investment to Secure Your Financial Future with Nic DeAngelo
Are you ready to transform your financial future? Learn why real estate may be the key to growing your wealth as Nic DeAngelo, CEO and founder of Saint Investment Group, shares his expert insights. Discover the tangible benefits of real estate investments, from cash flow through rents to potential appreciation in value, and understand why this asset class can serve as a robust hedge against inflation.
Join us as Nic dives deep into the advantages of real estate over volatile markets like stocks and bonds, especially in today's economic climate. He breaks down the opportunities within the sector, focusing on single-family home mortgages and industrial real estate in the southern United States. Gain practical advice on managing investments yourself versus leveraging professional funds, and learn which strategy might be best for your situation.
Finally, we'll discuss the shifting dynamics of homeownership across generations and what this means for small business owners in the painting industry. Nic also introduces us to Saint Investment's fixed income fund, offering impressive returns backed by real estate. With invaluable resources and actionable insights, this episode is tailored to help you secure your financial future through savvy real estate investments.
Profitable Painter Podcast - Unlocking Hidden Tax Strategies: Save Big on Your Painting Business's Tax Bill
Transcript
Welcome to the Profitable Painter Podcast . The mission of this podcast is simple to help you navigate the financial and tax aspects of starting , running and scaling a professional painting business , from the brushes and ladders to the spreadsheets and balance sheets . We've got you covered . But before we dive in , a quick word of caution While we strive to provide accurate and up-
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