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
📌 Timestamps
0:00 - Introduction: Importance of profit margins
0:55 - Meet Grant Booth: CPA and partner at Jacobson & Company
2:27 - Why small businesses need professional financial guidance
6:51 - How Grant started in accounting and became a partner
11:03 - Understanding margins in different business types
17:24 - Scaling smartly: Hiring, delegation, and growth strategies
23:48 - Tax efficiency for high-income earners
35:07 - Understanding S-Corps and LLCs for tax purposes
39:15 - Overlooked tax write-offs for small businesses
51:52 - Common accounting mistakes for business owners
1:00:08 - Financial strategies: Saving, planning, and efficiency
1:06:43 - Unique approaches at Jacobson & Company
1:08:36 - Wrapping up: Building work-life balance for CPAs
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