Shownotes
In this episode of Make Business Personal, Dawn Hryshko, Founder and tax strategist at Orsa Consulting brings her 30 plus years of experience partnering with closely held and family-owned businesses on sophisticated financial strategies, personalized growth, and advisory services to the show. She shares a quick overview of the things that we need to know in running our business when it comes to tax strategy!
- The range of tax strategy content you covered in The Accelerator program 0:48
- The top three things entrepreneurs need to know about tax strategy 2:36
- One action you want all listeners to take right now in their entrepreneurial journey 9:40
- One bonus business tip about succeeding in entrepreneurship 11:20
Quotes
- “The other strategy that I think is underutilized, is the home office deduction. Most businesses, whether they have an office or a location in which they conduct a lot of business, they also tend to create a home office at home, at least for the business owner, in which a lot of work is done. And there is a good chance that even if you have two locations you could still utilize a home office deduction. And if you only work from home, it's a great way to take personal deductions, living in our home personally and creating a business deduction to reduce your income tax. It's pretty cool.” 3:27
- “Having a spouse can be beneficial in creating a higher percentage of a deduction for a vehicle.” 8:23
- “I think every single person who owns a business should be working with a tax professional because you don’t know what you don’t know.” 9:51
- “So often, especially in your startup, or the startup I consider the first five years, we think we can do it all, or we are afraid that if we don’t do it all, we won’t be able to afford hiring the right people. But it’s very important to have your team in place from day one.” 11:28
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