Episode 52 - The CFO Playbook: Cameron Williams on Winning Business Strategies and Tax Optimization

In this conversation, Kevin Davis interviews Cameron Williams, the founder and CEO of KynLi  Consulting, a consulting group that specializes in CFO services and consulting for small and medium-sized businesses. They discuss the importance of taxes and business strategy for businesses, the services provided by KynLi Consulting, and the holistic approach they take to accounting and consulting. They also explore how to find the right financial services provider and the difference between the letter and spirit of tax laws. Overall, the conversation highlights the value of proactive and personalized financial services for businesses. In this conversation, Cameron Williams discusses the importance of utilizing tax laws to your advantage and understanding the difference between personal and business vehicles.

He emphasizes the need to identify ordinary and necessary expenses for your company and the importance of maintaining clean financials. Cameron also provides insights into tax strategies for different revenue ranges and offers strategies for small and medium business owners to improve their financial management. He highlights the common mistakes made by business owners and provides strategies to fix them. Finally, Cameron discusses the importance of driving sales and offers ways to reach out to KynLi Consulting for assistance.

Takeaways

• Taxes and business strategy are crucial for the success of small and medium-sized businesses.
• KynLi Consulting offers comprehensive CFO services and consulting to help businesses make more money, save more money, and minimize taxes.
• A holistic approach to accounting and consulting involves considering factors like tax strategy, cash flow, and financial projections.
• When looking for a financial services provider, it's important to ask the right questions, consider the provider's expertise, and align their services with the needs and stage of your business. Utilize tax laws to your advantage by understanding the difference between personal and business expenses.
• Maintain clean financials to ensure accurate tax reporting and minimize audit risks.
• Tailor tax strategies based on your revenue range, seeking professional assistance as your business grows.
• Focus on driving sales and implementing multiple marketing methods to grow your business.
• Reach out to KynLi Consulting through their website, Facebook, or YouTube channel for assistance with financial management.

Chapters

00:00 Introduction and Setting the Topic
00:55 Helping Small and Medium Businesses with Taxes and Business Strategy
04:23 Services Provided by Kenley Consulting
05:21 Holistic Approach to Accounting and Consulting
06:17 Proactive and Personalized Approach to Client Services
07:29 Finding the Right Financial Services Provider
09:56 Differentiating Factors of Kenley Consulting
12:00 Finding the Right Financial Services Provider (Continued)
15:28 Importance of Strategy and Finance for Small and Medium Businesses
20:08 Basic Thinking Strategy for Small Businesses
22:14 Utilizing Tax Laws to Your Advantage
23:00 Differentiating Business Vehicles
23:40 Understanding Ordinary and Necessary Expenses
24:14 The Importance of Clean Financials
26:17 Tax Strategies for Different Revenue Ranges
27:14 Strategies for Small and Medium Business Owners
36:05 Mistakes Small and Medium Business Owners Make
36:18 Strategies to Fix Mistakes
42:56 Driving Sales and Growing Y

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