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Profitable Painter Podcast

Year-End Tax Tips: Proven Strategies for Painting Business Owners

October 18, 20241 min read

October 18, 2024

Season 1, Episode 119

Year-End Tax Tips: Proven Strategies for Painting Business Owners

Unlock powerful year-end tax-saving strategies tailored just for painting businesses! Gain insider knowledge on how to minimize your tax liabilities before December 31st by mastering expense acceleration and income deferment. Learn to make savvy financial moves like strategic purchases and payment delays that not only optimize your tax outcomes but also ensure cash flow stability. This episode is packed with actionable insights that will empower you to make the most financially sound decisions and avoid unnecessary expenditures.

Navigate the complexities of tax considerations when purchasing vehicles with ease as we dissect luxury auto limits, Section 179, and depreciation recapture rules. Discover double tax savings through Health Savings Accounts (HSAs) and unlock the full potential of individual retirement accounts (IRAs) before the year's end. Take control of your financial future by making proactive decisions about tax credits and deductions, rather than letting the IRS dictate your terms. And for ongoing insights and community support, join our Grow your Painting Business group on Facebook. Don't miss this opportunity to turn tax planning into a powerful tool for financial growth!

Subscribe to the Profitable Painter Podcast

Painting Business OwnersProfitable Painter PodcastBookkeeping For PaintersTax StrategiesMasterclassBusiness Finance Tips
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Daniel Honan

Daniel Honan is a former painting business owner and military intelligence officer with an MBA and a degree in Accounting. He's been in your shoes. Everything from cold calling for estimates, in-home consults, managing crews, to running payroll. With his accounting, intel, and painting industry experience, he's put together a back-office system to help painting contractors crush it by helping them know their numbers and what they mean, save big in taxes, and streamline and automate their processes to save time and money.

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Profitable Painter Podcast

Year-End Tax Tips: Proven Strategies for Painting Business Owners

October 18, 20241 min read

October 18, 2024

Season 1, Episode 119

Year-End Tax Tips: Proven Strategies for Painting Business Owners

Unlock powerful year-end tax-saving strategies tailored just for painting businesses! Gain insider knowledge on how to minimize your tax liabilities before December 31st by mastering expense acceleration and income deferment. Learn to make savvy financial moves like strategic purchases and payment delays that not only optimize your tax outcomes but also ensure cash flow stability. This episode is packed with actionable insights that will empower you to make the most financially sound decisions and avoid unnecessary expenditures.

Navigate the complexities of tax considerations when purchasing vehicles with ease as we dissect luxury auto limits, Section 179, and depreciation recapture rules. Discover double tax savings through Health Savings Accounts (HSAs) and unlock the full potential of individual retirement accounts (IRAs) before the year's end. Take control of your financial future by making proactive decisions about tax credits and deductions, rather than letting the IRS dictate your terms. And for ongoing insights and community support, join our Grow your Painting Business group on Facebook. Don't miss this opportunity to turn tax planning into a powerful tool for financial growth!

Subscribe to the Profitable Painter Podcast

Painting Business OwnersProfitable Painter PodcastBookkeeping For PaintersTax StrategiesMasterclassBusiness Finance Tips
blog author image

Daniel Honan

Daniel Honan is a former painting business owner and military intelligence officer with an MBA and a degree in Accounting. He's been in your shoes. Everything from cold calling for estimates, in-home consults, managing crews, to running payroll. With his accounting, intel, and painting industry experience, he's put together a back-office system to help painting contractors crush it by helping them know their numbers and what they mean, save big in taxes, and streamline and automate their processes to save time and money.

Back to Blog

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