September 18, 2025 • 40 mins
Financial expert Paden Squires shares powerful insights on tax planning, wealth building, and entrepreneur mindset strategies to help business owners keep more of what they earn. He explains how proper financial planning goes far beyond basic tax preparation, requiring strategic quarterly meetings and documentation of tax-saving opportunities like the Augusta rule.
• Paden's journey from corporate employee to entrepreneur driven by childhood financial anxiety
• Most entrepreneurs struggle with financial disorganization and lack clear visibility into margins
• Traditional CPAs often only prepare taxes without offering strategic planning or wealth-building advice
• The Augusta rule can save entrepreneurs $3-5K annually by renting their home for business meetings
• Documentation is crucial for any tax strategy to withstand potential audits
• Proper financial mindset requires understanding the balance between delayed gratification and growth
• Tracking weekly financial KPIs like margins and cash flow prevents reactive decision-making
• Advanced strategies like deferred sales trusts and opportunity zones can significantly reduce capital gains taxes
• "With enough time and energy put into something, you can get better at it" -
Connect with Paden at squirestaxplanning.com to book a call about your tax situation or find him on social media and his podcast "Behind their Success."
Thanks for listening & being part of the Mindset Cafe Community.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Yeah, it's Mindset Cafe.
We all about that mindset.
Gotta stay focused, neversettle for less.
It's all in your head how youthink you manifest.
So get ready to rise, cause weabout to be the best.
Speaker 2 (00:12):
Gotta switch it up.
Gotta break the old habits.
Get your mind right, turn yourdreams into habits.
No negative vibes, onlypositive thoughts.
What is up, guys?
Welcome to another episode ofthe Mindset Cafe podcast.
It's your boy, Dev Gonzalez.
(00:32):
And today we are back withanother special guest.
We have Peyton Squires on.
He is a CPA, CFP and anentrepreneur who is passionate
about helping business ownersreally simplify their finances
and reduce their tax stresses,while building wealth and peace
of mind.
And as we start to get towardsthe end of the year, honestly,
this is when you should bestarting to talk to someone like
Payden.
If not Payden, if you guysdon't have anyone, because don't
(00:54):
wait until the end of the yearor the beginning of the year to
try to figure out and now you'replaying catch up.
Right, you should be figuringthose things out now.
It's September.
Believe me, December, January,is going to come a lot faster
than you think.
But without further ado, Peyton, thank you so much for taking
the time out to hop on theMindset Cafe.
Absolutely, man, I appreciateit.
I'm excited to be here.
So I mean, I like to alwaysstart off with a little bit of
(01:15):
your backstory.
How did you get into thefinancial planning, the
accounting, all that.
What led you to that road?
Speaker 1 (01:23):
the accounting, like all that.
You know what led you to thatroad?
Yeah, yeah, Great question, youknow it.
It really goes back to to mychildhood.
You know.
I grew up a single family homein a, in a single mom, a mom
situation.
Speaker 2 (01:35):
You know what?
Speaker 1 (01:35):
why we didn't have you know we weren't like
completely destitute or anything, but we did.
We did have struggles, right,and it's certainly things I knew
or recognized as a kid that youknow, maybe we had a little bit
less than others and in times,you know, I remember stories of
when my mom actually got laidoff from a job and my grandma
being there and being anxiousand everything about it and as
(01:56):
like a 10, 12-year-old kid, thatwas like a huge you know burned
into my mind of you know theanxiety around that, right, and
so that drove me.
You know the anxiety around that, Right, and um, so that drove
me, you know it.
It drove me into the world ofmoney and finance, right, I just
knew I never wanted toexperience that again, like as
an adult.
I mean, like my motivationprobably was nothing more than I
didn't want to be poor, as asnon-noble as I guess that that
(02:19):
is, but like that, that was myfear, right.
And you know that led me intostudying money and and you know
accounting and all those thingsin college.
You know I I went through thatand ended up getting a master's
degree.
I came out, you know, in themiddle of like the the 08, 09
recession, out of college, so,like everybody in finance was
getting fired from their jobs.
(02:40):
So I ended up getting a job ata little local bank.
You know, worked a couple yearsin a few different, you know,
insurance company, a local bankand then a large manufacturing
company, but quickly found outlike I'm not built to be an
employee at all, really, really,anywhere I was.
While I was a good employee youknow anybody would say I was a
(03:01):
really good employee like Ihated it.
I hated sitting in the cubcubicle doing whatever people
told me to do, bored out of mymind, kind of thing.
So when I did my last real jobI had, you know, back in, say,
2012, I ended up sitting therestudying for the CPA exam and
that was my escape plan.
My escape plan was to study forthe CPA exam.
(03:22):
As soon as I passed, I quit myjob and opened up my own firm
that happened in 2014 and growninto what it is today.
Speaker 2 (03:33):
That's awesome.
That's the hard thing.
A lot of people will getfrustrated with their current
state, whether it's being anemployee or you know something
in their life, but no one, a lotof people, don't want to take
that step, or take that you know, that step off the ledge and
into the unknown, and so for youto do that you know is is huge.
(03:55):
What was what were some of thefirst like unknowns that you had
to experience, going fromemployee to business owner?
Speaker 1 (04:04):
Yeah.
So I mean you know, you knowthe listeners know, yeah, it was
scary, you know, I mean it wasthe best decision of my life,
but I didn't know that at thetime, right, I didn't know how
this would play out but but yeah, I mean, for me it was.
It was leaving a safe corporatejob, a safe corporate paycheck
right, or at least theperception of it being safe.
Um, and and jumping down on myown and and literally, you know,
(04:26):
like day one I'm sitting herewith a laptop and like in my
living room.
I started this business in myhouse and.
I didn't really even know whatto do, like, hey, I need to
figure out how to get clientsand and and make money Right and
and so it it.
You know, I I had a.
My situation was a little luckybecause my my wife at the time
(04:47):
was finishing, finishing upnursing school, so she was like
going to start her first realjob.
Before that I was like the onlyone really making money, so it
was like a good timing of likeshe was coming on board to make
money and then I was just goingto quit at the same time.
So we were like in the almostthe same financial place and
that really gave me the runwayto.
You know, just jump and jumpinto it and see what I can make
happen.
Speaker 2 (05:08):
No, that's, I mean, that's awesome, I mean, and
that's did you.
Were you starting to liketransition into becoming an
entrepreneur while you're anemployee or did you do what I
kind of did and just kind ofjump ship?
And you know, I just jumpedship, yeah.
Speaker 1 (05:23):
I just jumped ship and, and you know I you know for
the listeners or whatnot, likeI mean, you don't have to do it
that way, right?
I mean there, there aredefinitely ways, and maybe even
less scary ways to where you canbe building this, this side gig
, especially now with technology.
That you don't have to like justgo cold Turkey, quit your job
and jump all in, right.
So there there's definitelyways you can do it.
(05:50):
Um, maybe edging in, but thenat the same time, like are you
really committed, right, are youreally going?
Speaker 2 (05:52):
to go down that path.
If you're got your feet at both, you know what I mean in both
worlds.
Yeah, I think that's.
That's the hard part, at leastfor me, was like I'm that kind
of person that has to just goall in.
I mean, I've done it two times,like at each level, and I think
for the second time I don'tknow if I would have done it if
I wasn't in a similar state thatyou were in.
Um, when I was a, I had my ownpersonal training company
running, you know, six figuresand everything, and then opening
(06:14):
up my gym, which is now afranchise, you know, we
franchise it.
But opening the gym, I had togo from six figures to no
figures, right, but my wife my,my wife was making money and
doing everything.
So it was like, okay, like we'regood for a little bit while we,
we transitioned, so that it wasa.
It was a jump all in, but amore strategic jump on the
(06:36):
second one.
Speaker 1 (06:36):
Yeah Well, and I think it's important, I think
it's important to realize, likeyou know to to move to that next
level.
Often you do that to take thosecouple steps back right, like
you almost kind of like break,break it down before you can re
rebuild it, and that you knowthat's what it is like, your
income you know you're gonnahave to take a hit in the short
term, but understand that, likeyou know, hopefully the future
(06:57):
is a whole lot better.
Speaker 2 (06:59):
That's the.
That's the goal.
You know what?
What are some of the financialchallenges?
You would say that a lot ofentrepreneurs, and even maybe
yourself, when you first becamean entrepreneur, you know face
and how do you help themovercome them.
Speaker 1 (07:13):
Yeah, I mean the, the , the biggest issue I see with
with entrepreneurs especially,you know, especially ones that
say you're under, you're under amillion dollars, right, and
you're still a million inrevenue and you're still
figuring out a lot of stuff.
You don't really have a lot ofsystems.
I mean they're justdisorganized.
I mean just flat outdisorganized.
And many entrepreneurs they getinto whatever their business is
(07:37):
because they're passionateabout it or they like doing it,
or they're really good at somespecific service or thing they
do, but that doesn't mean theyknow anything about finance or
running a business, or you knowthose things.
Those are totally different.
Skill sets, right, andaccounting and taxes and numbers
and stuff, especially for a lotof people, can be intimidating,
right.
Speaker 2 (07:57):
And.
Speaker 1 (07:57):
I often see where entrepreneurs it's like they
just don't look at it becausethey don't you know what I mean.
They don't fully understand itand it's just like, hey, if I'm
not looking at it, I'm sure, I'msure it's OK, right, and and so
it's.
It's really just, I guess, alack of intentionality around a
lot of it, and you know, I wouldalso say that a lot of it's the
(08:19):
industry's fault.
You know I mean a typical CPAfirm, tax preparation firm.
They're not necessarily set upto help you with any of that
stuff either, right, like so.
So and this is why we'vedesigned our firm much different
.
But like the typical CPA firmis like they're just tax
preparers and there's nothingwrong with that.
But like many people get a CPA,get a tax preparer, and are
(08:43):
expecting something other thanthem just prepping your taxes
and they're not really motivatedor incentivized to do anything
else.
Right, they work with so manyclients and they're just
prepping your taxes.
And where a lot of theintentionality is lost is
there's nobody really planningwith you and actually walking
alongside, helping you makedecisions, helping you make
strategic decisions out there inin the marketplace.
(09:06):
It's just there's not a lot ofpeople doing that no, definitely
, and that's the hard part too.
Speaker 2 (09:12):
What I've learned is just like in fitness right,
that's, I'm in that industry.
Right, there's different,different levels to trainers.
Right like, everyone's acertified trainer, you know
whatever the case may be.
But you quickly learn thatcertain people have above and
beyond knowledge and dive deeperand continue their learnings
and so forth.
And same thing for CPAs,financial planners and stuff.
(09:36):
For example, when I firstbecame an entrepreneur, the
person I was using for my taxesknow the, the person I was using
for my taxes.
I quickly realized that this isprobably not the best person
because she didn't really knowmuch about, like you know, the
write offs and all that kind ofstuff.
And I was like okay, this is.
This is I got.
Speaker 1 (09:53):
I outgrew that person which is it happens and that's
normal and that's going to bepart of your process, especially
if you're you're growing.
Speaker 2 (10:10):
You know you're a rapid grower like, yeah, I mean,
you gotta up your relationshipstoo, yeah.
And then it happened again when,all of a sudden, I asked my cpa
you know a couple like taxadvantage questions that you
know I heard online, looked themup and stuff and he, his
response was, oh, I was actuallylooking into that too, it's
really.
And I was like, okay, if you'relooking into it like, and
you're trying to do this foryourself, you don't really know
about it yet.
I was like we might be on thatline, you know.
And then, launching thefranchise, all of a sudden, it
was like you know, now there's awhole different side of it.
That was like, okay, I think, Ithink we've kind of parted ways
(10:32):
a little bit here.
Um, with with yourself, thoughyou know what's one of the
things that, when people arelooking for someone like you're
saying, like you know afinancial planner or a cpa that
is doing what you know, you'resaying like you know a financial
planner or a CPA that is doingwhat you know, you're saying
like going above and beyond.
Speaker 1 (10:48):
Yeah, and just tax strategizing, I mean just tax
planning.
Speaker 2 (10:52):
Yeah, what are some of the things that maybe they
can ask them or kind of verifyto make sure they're getting the
person that they want?
Speaker 1 (10:59):
Yeah, I mean it's.
You know, obviously it's up forwhat you're looking for, but
you know, if you're looking forthat planning and strategist,
like I mean, you should betalking to this person three to
four times a year.
I mean minimum, you know, likeour process is.
You know, we make everybody meetwith us four times a year and
often we're chasing down theentrepreneurs like hey, meeting
(11:19):
time, it's time to have ameeting Because you know they
get busy and they're runningaround and stuff.
But yeah, you need to.
You need to ask questions oflike, what do you?
You know, how do you plan withclients?
How do you do you, do you offerany services that actually you
know, help me strategize todrive down my tax bill, not just
you know file my taxes correctand once again, that needs to be
(11:42):
done and most CPLs or CPAs arefantastic at you know filing the
tax returns.
But what can you do?
you know what are you going todo to help me make decisions and
strategize how to make thesituation better, not just
report it to the government.
Speaker 2 (11:58):
See, that's awesome.
Those, I mean those are perfectquestions.
So you guys, if you guys needsomeone, hit up, hit up Peyton.
So what are some of maybe thestrategies that can help reduce
some of that tax stress in likepractical terms from?
Speaker 1 (12:11):
an entrepreneur?
Speaker 2 (12:13):
Is it like weekly checks of your KPIs?
Weekly, you know what are your.
Some little key tips.
Speaker 1 (12:20):
Yeah, I mean, you know just yeah, I mean,
obviously you know havingdashboards, having KPIs, just
knowing kind of what your dailymeasurements are.
And you know that's not just infinance, you know, it's across
all the different pillars ofbusiness.
You know, other sales,marketing or whatever you know.
With this it's a matter of likethe tax planning kind of sits
(12:42):
on top of like your accounting,like the tax planning kind of
sets on top of like youraccounting.
And often, you know, I get, Iget some entrepreneurs that are
kind of up and coming and maybenot established as much and they
don't have very clean books orbooks at all, to be honest with
you, and that makes my jobalmost impossible to do Right,
(13:04):
because if I don't have theinformation I can't strategize
Right, or if I don't haveaccurate information.
So it's, you know, one is likeyou got to get, you got to get
clean account and especially ifyou're doing any significant
revenue, you got to get cleanaccounting because, one, it's
going to inform you to makebusiness decisions Right, even
internally, and two, it allows aperson like me to come in here
and really add value and getstrategic about how we recognize
(13:25):
income and how we recognizeexpenses and the timings of all
that, and then some even justbasic strategies we can
implement, like you know.
I mean I'm sure a lot of theentrepreneurs listening here and
whatnot have heard of like theAugusta rule, or have seen that
you know on the internet thatbounces around all the time
because it's I was talking aboutgolf and whatever, but like
that, that's a.
That's a very simple one that90% of um you know traditional
(13:49):
CPA firms will never even helpyou with.
Um and and just to get a quickrundown of what like the Augusta
rule is, it's.
You know anybody in the UnitedStates can rent out their
personal residence uh, for up to14 days a year and not at pay
income taxes on.
So, as business owners, the waywe strategize that and take
advantage of that is you knowyou're going to host legitimate
(14:10):
business meetings in your house,right, and we're going to pay a
fair rental rate and ultimatelythe business is going to pay
you rent for hosting businessmeetings in your house and
ultimately the business gets todeduct it.
You, as that person, since youwere in and out for less than 14
days, don't have to pay incometaxes on it.
And while that's not somemassive thing, you know, for
most people it could be three to$5,000.
(14:34):
And the reason most CPA firmsaren't going to set that up for
you is because they don't haveany processes around it, right,
they don't have any ability tohelp you do any of that, so
they're just going to say, hey,well, it's only a couple
thousand dollars, probably notworth doing right, to deal with
all this stuff.
Well, our firm, we've set upprocesses and things to make
that super easy for you todocument and have lease
(14:54):
agreements and really have a,you know, a file, in case you
ever were audited to say, heylook, this was all very
legitimate of what we did, right.
So this was all very legitimateof what we did Right.
So you know, we've really builtprocesses to help people
implement those smaller thingsthat you know nobody else is
going to actually help you dono-transcript.
Speaker 2 (15:26):
And that's like the surprising part, because the
guts of the rule and all thatkind of stuff only works if you
document, because if you do getaudited or anything and you
don't have any proof there'syeah, they're gonna take away
that expense.
Speaker 1 (15:42):
You're gonna have back taxes and penalties and
whatnot.
Yeah, yeah, going to take awaythat expense.
You're going to have back taxesand penalties and whatnot.
Yeah, yeah, and that's what youknow.
While I'm an absolutestrategist and looking through
the code of like, ok, right, andwe're going to put together
(16:02):
files and documents that saysanybody comes asking questions,
well, you know, here you go,what questions you got.
You know that kind of thing.
So, yeah, I mean, there'splenty of people out there that
will just, like you know or Idon't say plenty, so some people
out there that will you know,just do the Augusta rule have no
documentation and you know,hope for the best, and you know
(16:26):
it probably works out for a lotof them, but some people it
certainly doesn't.
Speaker 2 (16:31):
So I mean, like that's my thing is.
What I've kind of talked topeople about too in is my
understanding, at least myfeelings of taxes Right is it's
like a game right, and what Imean by that is the more you
know about the game, the betteryou can play the game right.
It's not that you're playing it, you know wrong or anything
like that, but if you don't knowthe different plays and
(16:51):
different you know strategiesthere's levels exactly.
There's levels to it, right, andin that's just what goes with
anything in life, right, but thenext, next kind of pivot I want
to take on it is how does themindset really play into
managing money and buildingwealth?
Speaker 1 (17:09):
Yeah, yeah.
So you know, I'm very big onmindset, you know, and of course
I have my own podcast and it'sall about very similar to yours,
right, about entrepreneurshipand mindset and all those things
.
And I think you know, I thinkyou know, I think what makes me
different, even just as a, youknow, as a money guy or even you
know, you can kind of tell I'mprobably not a typical CPA
(17:30):
personality.
But what, what makes medifferent is, you know, I really
do consider myself anentrepreneur Right.
As you know, I I mean I callmyself the entrepreneur's
accountant Right Because I livein that world so much as an
accountant right, Because I livein that world so much, I work
with so many dang entrepreneursand in lots of mastermind groups
and stuff where we're doingroundtables and picking each
(17:50):
other's businesses apart and allthat kind of stuff.
So it's, I think, like you said, there's so many different
layers to this and there'salways another, you know another
level to play the game at andit's having the mindset of
growth and and wanting to keepadvance.
You know it's you.
Not only do you got to do thatwith yourself, but also with you
(18:10):
know, with your vendors, as you, as you continue to grow, like
you said, you've kind of gonethrough different professionals.
I've done that in the same,whether it's, you know,
marketing or different thingsthat were people helped me, um,
get to the level where I was at.
But I wanted to keep going,going and I, you know I needed,
I needed to involve somebodyelse that has already seen those
roads right, I've already beendown those roads right.
(18:33):
You know, I didn't want tonecessarily go with my vendor
because they would be learningit with me at the same time,
right, I'd rather just skip thatstep, go find somebody that's
already been down that road andthey can take me down.
That know quickly, right, andthey know where they're going no
, definitely so.
Speaker 2 (18:48):
I mean with with a lot of the entrepreneurs that
you talk, to right their mindsetabout their, their money.
Is it more on like, especiallyif you don't know your numbers,
you can't improve your numbers,right?
Yeah, so their mindset isn'treally developed around you know
, whether it's an emotionaldevelopment or just a analytical
(19:09):
development around their actualfinances?
How do you start to preparethem to understand sometimes
spending money Right, like youknow, in a SEP IRA or something
like that, that expenditure isactually a benefit and it's not
losing money?
Or you know, how do you startto kind of help them develop
their mindset?
Speaker 1 (19:28):
Yeah, and it's, it's, you know one, it's developing a
relationship right, I'm, I'm,you know I'm, I'm very
relational guy and and you knoweverything I do is, you know,
trust and money and and, and youknow the, the, all those types
of things and and you know.
I'm very aware, like you know, Iunderstand it's not just a
logical game, right, you know I,especially around money.
(19:49):
You know everybody has so muchemotions around money and you
know you're carrying whateveryour parents did with money and
all those habits and whatnot,right, so it's it's.
You know, I understand it's not.
It's not just like a lack ofinformation, right, it's not
generally not the problem, like,like you, you're in fitness
space, right, it's not likepeople don't know generally what
(20:10):
to do.
Like you know, they know theyneed to work out more and eat
less calories generally, right,if that that's how they want to.
You know, and and and in taxes,and once again, like there's so
many more levels to that, butlike the base level is, you know
, people kind of kind ofunderstand that levels to that,
but like the base level is, youknow people kind of kind of
understand that.
So it's more of a, it's more ofa habit thing, right, right,
(20:31):
and and and helping peopleunderstand and and make better
choices and and seeing thelong-term gain.
Um, right, because everything's, uh, you know, can I have it
now?
Or if I delay gratification, itcould be better.
You know, years down the road,and that's always the tradeoff,
and especially in money, it'sit's the more you can delay
gratification.
Or, you know, keep doublingdown and rolling money forward
(20:53):
and whatnot you get, you get themost growth.
So it's it's trying to alwaysget entrepreneurs to see the
bigger picture.
And now, at the same time, it'salso it's like I have a lot of
conversations with entrepreneurs.
It's like, so, like, whatproblem are we solving for?
Like, what is the end game here?
Right, like you know, everybodywants to pay less taxes and
make more money.
(21:13):
Sure, but like, to what end?
Like, what are, what are weactually?
You know what is your business,what do you like?
What's your vision?
What are you actually trying tobuild?
Because, you know, make moremoney and pay less taxes, I mean
, there's a million differentthings we can do but like,
depending on what you'rebuilding that's going to inform
(21:35):
you know the strategies androads we ultimately take?
Speaker 2 (21:36):
no, definitely, um, I mean with that, though man.
I was, I lost, I had somethingthat you're saying, that it was.
It clicked in, it clicked myhead.
I was like man actually.
I was just thinking lost that Ihad something that when you're
saying that, it clicked in myhead.
I was like man.
Actually, I was just thinkingabout that the other day.
Speaker 1 (21:50):
I do that all the time.
Speaker 2 (21:53):
It'll come back to me , but I mean, is there, oh,
actually a little side question?
Yeah, and this is more for kindof like a personal question too
, because you have financialplanning right and then you I've
met, you know, fractional CFOsand so forth, and so what's the
difference for entrepreneursbetween someone that is actually
(22:17):
like a financial planner thatwill help you plan your finances
, and whether it's with thebusiness and your personal?
And what's the differencebetween like a fractional CFO?
Speaker 1 (22:25):
Yeah, you know a fractional CFO is going to be.
I mean they're going to berunning your internal.
You know your internal financefunction right.
You know you usually seefractional CFOs maybe get
involved in businesses.
I don't know, maybe 3 millionup generally, you know, maybe
not even till five or seven orsomething.
It just kind of depends on thebusiness.
(22:45):
But you know they're.
They're in there running thefinance function and you know
where you've got enough stuffgoing on that that it's worth
having a high level person inthere just making financial
decisions all the time andmonitoring and budgeting and
being strategic there.
You know I don't know very manyfractional CFOs that work in
(23:08):
tax at all right, like as inthat.
That is not.
I mean, I'm sure there are some, but the vast majority aren't
right there.
They're just there as likealmost an outsourced employee to
run your finance functions.
You know, generally.
Even then you know I work with alot of organizations that have
a fractional CFO and you knowwe're coming in and doing their
(23:28):
strategy around taxes and,ultimately, the net worth
building of the you know theowner Right, so that you know, I
think that's kind of thebiggest difference the CFOs are
really.
I mean, they're internallyworking on strategizing of like
business growth and things likethat.
Working on strategizing of likebusiness growth and things like
that Right, and somebody likeme is is coming in and and you
(23:49):
know I'm very specific in thetax world and you know, while we
do provide a lot of businessconsulting too honestly, with
just the vast amount ofbusinesses we've worked with
over over the years we canusually add value in a lot of
those places too.
But you know we're very focusedon how do we grow the business
owner's net worth as efficientlyas possible and and accomplish
what goals?
You know, obviously they want.
Speaker 2 (24:10):
No, definitely.
I think the reason I asked thattoo is is I've I mean you hit
up, you know, and I'm sure youdo as well, on social media from
like LinkedIn and Instagram andstuff.
Yeah, and it's like and I thinknot like understanding, like
your, your tie between, you know, cpa and financial planning
makes complete sense.
And then that separationbetween CFO makes complete sense
(24:32):
.
But I've seen just financialplanners without a CPA or a CFO
connection and they kind ofblend into like a CFO but
they're not a CFO and it's likethis weird little you know
mixture of wanting to touchevery world.
Speaker 1 (24:51):
Yeah, yeah, and you know, yeah, I mean the vast
majority of financial plannersare like asset managers, is what
I would say.
They help you invest your moneyin new weather stocks and bonds
or whatever that is help youinvest your money in new weather
stocks and bonds or whateverthat is.
You know and and you know I'mnot not you know why I do.
I do financial planning and nottalk about you know bad, about a
(25:12):
bunch of financial planners,but like very, very little of
them have extensive taxexperience at all, which, which,
in my view I mean the tax issuch a huge part of all that,
like you can't really dofinancial planning without
understanding tax, because taxesI mean the biggest expense and
all that and what you constantlyhave to keep in mind as you're
(25:34):
making moves and investing indifferent things is like what
are the tax implications of thisand how can you know if I go
into this investment, how can Iget out and how I'm going to
deal with the taxes and allthose things?
And, and you know, there thereare a lot of just kind of retail
financial planners that youknow you come in and they just
stick money in mutual funds andthe advice is not very high
(25:56):
level.
Speaker 2 (25:57):
I think, okay, that makes more sense.
Um, I do have a question on astrategy or potential strategy
that I've kind of heard about,and then it's funny enough that
I saw it yesterday.
It was about capital gains,right, and capital gains and a
trust.
I forget what kind of trust.
(26:18):
I know there's different kindsof trust, but it was saying
essentially that if you put yourassets into and I don't know
what they qualify- as assets,maybe a beaded trust?
I'm guessing maybe.
But then if you sell the assetswhile it's in the trust, you
deferred capital gains yeah.
Speaker 1 (26:33):
Deferred sales trust yeah.
Speaker 2 (26:35):
Oh, that's a real thing.
Speaker 1 (26:38):
It is.
But you do have to be carefulabout what is done and who's
doing it.
And you know, with any of thesethings, you know with any tax
strategies and whatnot like,there's a lot of great people
out there and then there's a lotof people that you know are
trying to sell you somethingright, and yes, so deferred
sales trusts are absolutely athing that's usually only coming
(27:01):
into play at pretty high levels.
You know what I mean thosethings are.
When you start talking aboutmaybe you know high seven,
definitely an eight plus figure.
You know transactions and stuff, generally things under that.
You're not doing that kind ofstuff.
But yeah, deferred sales trust,there's ability to sell assets
and no trust and you can loanmoney against it and it allows
(27:24):
you to kind of basically defercapital gains.
Is what it can do.
Speaker 2 (27:28):
Oh, got you.
So I mean, and then the reasonI wanted to bring that up is
that I also heard that you can.
And again, this is all.
I have no knowledge of thesethings that and put their
business into the trust or soldthe business in the trust or
(27:49):
something, because doing it thatway versus creating the
business you can't.
I guess the trust couldn'tcreate the business.
You had to basically sell it tothe trust or give it to the
trust and it deferred taxes orsomething.
Is that?
Speaker 1 (28:03):
yeah, yeah, yeah, yeah and that that's kind of the
the overarching deferred salestrust kind of model.
You you know you ultimately endup kind of selling the business
into the trust and it getscomplicated and specific.
But yeah it can allowdefinitely for you to defer,
defer capital gains, absolutelyyeah.
And and you know, and thatthat's one way.
There's, I mean there's,there's millions.
I mean I say millions.
(28:23):
There's, I mean there's,there's millions.
I mean I say millions there'sdefinitely others too.
You know one one I would tellyou about.
That's it's going to be reallybig.
Starting back up in 2027 iswhat's called opportunity zones.
Opportunity zones are out ofthe one big beautiful bill here
we got.
We got opportunity zonesreturns.
Opportunity zones are likeareas governments draw and say,
(28:45):
okay, these are economicallydepressed areas and there's tax
benefits for investing in theseareas, right.
So what happens is peopledevelop funds you know they're
building real estate or whatever.
Of course, with any of thesethings, you need to worry about
the underlying investment andhow confident you are in that.
But the tax structure is what itis.
You know, opportunity zonefunds allow you to take a
(29:07):
capital gain.
Let's say you sold an asset andhave a million dollar capital
gain.
You can take that milliondollars and dump it into an
opportunity zone fund.
Say this happens in 2027.
Your tax bill on that milliondollars gets delayed all the way
to 2030.
I think it's 2034.
So it's like seven years.
So instead of paying thatcapital gain tax now, it gets
(29:29):
delayed seven full years.
And then these funds aredesigned at year seven that they
will kick you out ofdistribution a tax-free
distribution at that point topay your tax bill that's due in
year seven, right?
And then if you hold on to theunderlying investment for 10
years or more, there's no taxesat all on any of that growth.
(29:50):
So you think about it as youdrop a million dollars in, you
know you're going to get yourcash in year seven out of it to
pay that tax bill.
And then, you can ultimatelyexit the investment tax-free at
the complete end, and so that'slike how opportunity zones work.
Of course, you really got tovet what the actual investment
(30:12):
is and that kind of thing.
Speaker 2 (30:14):
But it's a very powerful opportunity.
Mad Fientist, no, that's huge,that's awesome.
I mean, what blind spots do youthink that most entrepreneurs
have with their finances?
Speaker 1 (30:28):
I think they just don't know what's possible.
And part of that is just youknow, you don't know what you
don't know, and that goes forall of us.
We all don't know right, andyou know it's always just
evaluating.
You know your relationshipsright Even.
You know your vendors, yourrelationships, your employees,
(30:48):
obviously all your relationships, your employee I mean obviously
all your relationships.
But about your relationships isis this person going with me to
the next level?
Right, um, and?
And are they capable of youknow, going with me to the next
level?
And?
And and, even better, so, havethey already been there?
Like, have they already beendown there, in, in, in, even in
their own personal life?
Right, um?
So it's, it's I.
(31:10):
The blind spot is you know, youjust don't know what you don't
know, and often their strategy Imean almost certainly their
strategy that can be implementedand value that can be added,
just depending on your situation.
But I think it's just gettingaround people that can help you
do that.
Speaker 2 (31:30):
Got you One last random, tending, a tangent
question, and this is this wasthis?
Was that random thought that Ihad Just came back to me Going
back into, like the trust thing,the the Roth I think it's
Rothschild like method right,where it's like everything's in
the trust and they're puttinglike assets into the trust and
(31:53):
then you're taking draws fromthe trust or something like that
.
Speaker 1 (31:55):
Is that something that people actually do or Um,
yeah, well, you talk, I think itwas.
It was probably not Rothschild,it was probably Rockefeller the
Rockefeller.
Yeah, yeah, yeah, the big, thebig, big, um big trust stuff.
Yeah, I mean it's you know thethe things with trust, and I'm
definitely not an attorney the.
Thing with trust.
They allow you to reallycontrol, ultimately, what the
(32:17):
assets do, even after your death.
You can describe what all thismoney is for and who can take it
and for what reasons.
And yeah, you know Rockefellerwas very key on.
You know legacy and not justpassing on assets, but you know
passing on the principles andthings that allowed them to earn
(32:40):
all those assets, right, and sothey developed a trust systems
to where.
Hey, you know this is there'srules around how all this money
works.
Because you know you look at adifferent family.
You look at the Vanderbiltfamily um, two, three
generations after them they wereall broke um and and, and you
know they were like Rockefellersand Vanderbilts were way up
there together and then, if youknow, you don't pass on, money
(33:03):
generally doesn't go throughGenerations very well, right,
often it goes to like onegeneration and it's gone, um, so
it's, it's the.
The awesome thing about trustis it can allow you to not just
get money to the next generationbut hopefully even through the
next generation, right?
Speaker 2 (33:19):
got you.
So this might not be a cpaquestion or even a financial
planning question.
It may be, but it might be moreinto your entrepreneur side and
knowing numbers right.
What are the top KPIs thatsomeone or an entrepreneur
should be tracking to focus ontheir growth?
Speaker 1 (33:39):
Yeah, one, just margins.
I mean often people have noidea, especially if you're in
like a product based business oreven even really services
depending, depending on yourbusiness model, but like most
people don't know their mostpeople don't have clear line of
sight to to really.
I mean, like nothing shocks meanymore to see multimillion
dollar businesses that don'thave clear line of sight to
(34:00):
really really anything.
You know they got an internalperson to their accounting that
like kind of knows what they'redoing and so it's, it's, it's
just it's's a pure lack of lackof sight and a lot of it is.
You know margins.
You know if you're a productbased business, or you know
construction or remodel orwhatever, like job costing,
knowing like did I actually makemoney on this job?
(34:22):
I just did, or not?
Or I'm like pretending like Idid Right, and and then also
just I mean just flat out, net,net profit margin, right.
Like you need to know,especially like you're in the
construction world or whatever,like what is your profit margin,
what should your profit marginbe on every job?
And then that allows you toback into figuring out okay, how
(34:49):
do we hit a 20% net or whatever?
That is right.
So it's all margins.
Of course you got to worryabout you know overhead and just
random expenses and stuff, butit's really just making sure
you're hitting the margins youneed to hit to make whatever
money you need to make.
And the issue is that like noone even does that math or even
things, are very very few peopledo.
Speaker 2 (35:10):
Yeah, no, I think that's, that's a big one.
Speaker 1 (35:12):
Um, I mean, even for me, like I do do my numbers
every, every Friday, so that Icould just see and keep track,
and plan, plan out the next week, and that was something that
well, and I would say the theother part that just just come
to mind as well, it's just likecashflow.
Um, you know, obviously you canhave a very profitable business,
a very profitable, growingbusiness, and still run a
(35:34):
serious cash problems.
Um, you know, especially ifyou're like a product-based
business and you always got toreinvest in inventory and you're
growing company and at somepoint that kind of like breaks
and you run out of money eventhough you've been making money
the whole time.
Um so, so cash flow iseverything right like you've got
.
You know you can't like payyour bills with your inventory
or feed yourself with yourinventory, right, you got to, um
(35:55):
, you got to manage cash flowand have a line of sight,
especially if you're, like youknow, fronting job costs and
things like that.
Speaker 2 (36:03):
And I think that and that's one of the big things,
that the reason why we startedtracking every Friday and how I
found out I kind of outgrew, youknow, my, my current year, my
previous CPA was getting gettingPNLs.
Like a month and a half after,like it was already done.
I was like, okay, I'm, I'mbeing reactive to everything you
know awesome you know, but alsomaking decisions and I was
(36:27):
buying inventory for the gymlike supplements and stuff, and
buying, you know, a bulk to getthe 10% discount and then it was
like okay, well, we're sittingon so many supplements that
we're we're buying more than weneed and we're just doing it for
the 10% discount.
Like this is not.
This is killing the marginsright, yeah.
So I think that was one of thebig things like actually knowing
(36:48):
the numbers and being able tomake decisions on a weekly basis
or monthly basis.
But knowing your numbers, evenkind of almost somewhat live,
you know, allows at least me tomake better decisions.
Speaker 1 (37:01):
Yeah, yeah, and I think just having like a basic,
like cash flow projections,especially even just with you
know, with you know, you sayyou're buying all this inventory
, right, like knowing that, like, okay, here's the timing of the
next few months of, like, mybills coming in and probably the
income I'm going to recognizeis like, is it?
Do we hit any point in therewhere, like, oh, the money's
gone, right, and and so, and, ofcourse, the further you can see
(37:21):
that out, you know, the moreyou can do about it.
Right, and it's just makingsure that you're not running out
of cash.
Speaker 2 (37:28):
Exactly so I got one final question that I ask
everyone, right, and it doesn'thave to be a financial answer,
right?
But the one thing I'll say isit's not a tombstone.
I say that and people stillsometimes give me a tombstone
answer, right, this is thePayton Squires legacy wall.
On this legacy wall is anymessage that you have learned
(37:50):
from your life's journey, rightprofessionally or personally.
What is the one message youwould leave for the up and
coming generations?
Speaker 1 (37:58):
wow, kind of sum up my life in one one, one sentence
, huh, um, you know I I if I hadto put put it on there is that
with enough time and energy putinto something, you can get
better at it.
And I think Tom Ballou is apodcaster I listen to a lot too.
(38:22):
He does impact theory, founderof Quest, nutrition and whatnot,
and he calls it the only beliefthat matters.
right, if you have the beliefthat if I put time and energy
into something, I will improveat it.
That's the only belief thatmatters, because if you don't
have that belief, you will neverstart and you never will get
good at it right.
So it's having the belief thatyou can really do anything and I
(38:43):
truly believe this with enoughtime and energy 100%.
Speaker 2 (38:47):
I believe that too.
I love it.
Well, where can people connectwith you and follow you and
learn more about you?
Know tax planning and financialplanning?
Speaker 1 (38:57):
Yeah, yeah, a hundred percent, yeah, so, um, you know
, on the tax planning side it's,it's squirestaxplanningcom.
So, um, you know, there you canbook a call with us, love to
chat, chat with you guys aboutyour situation and see if you
know, see if we can be any helpfor you.
On the personal side, I havePeyton Squires out there.
You can find me on YouTube andall the social media places.
On that side, of course, I gotmy podcast Behind their Success
(39:24):
where we interview a lot ofawesome entrepreneurs and get
their stories and share a lot ofmindset and tips and stuff like
that.
On the personal side, just lookme up, I'm all over the place,
my name, and then you know ifyou're interested in tax stuff
squirestaxplanningcom book acall with me.
Speaker 2 (39:40):
Awesome.
All that will be in the shownotes, guys.
But make sure you guys sharethis episode with a friend.
If you know an entrepreneurthat struggles with their taxes,
definitely share this with them.
But leave that five-star review.
It really does help us out andspread the word for the
entrepreneurs and just formindset, Right.
But, Peyton, thank you so muchagain for taking the time out of
your day to hop on the MindsetCafe.
(40:07):
I can't be distracted.
I stay on my grind.
No time to be slackin'.
I hustle harder.
I go against the current Cause.
I know my mind is rich to becollected.
Yeah, it's Mindset Cafe.
We all about that mindset.
Gotta stay focused, neversettle for less.
It's all in your head how youthink you manifest.
So get ready to rise, cause weabout to be the best.
Speaker 2 (00:12):
Gotta switch it up.
Gotta break the old habits.
Get your mind right, turn yourdreams into habits.
No negative vibes, onlypositive thoughts.
What is up, guys?
Welcome to another episode ofthe Mindset Cafe podcast.
It's your boy, Dev Gonzalez.
(00:32):
And today we are back withanother special guest.
We have Peyton Squires on.
He is a CPA, CFP and anentrepreneur who is passionate
about helping business ownersreally simplify their finances
and reduce their tax stresses,while building wealth and peace
of mind.
And as we start to get towardsthe end of the year, honestly,
this is when you should bestarting to talk to someone like
Payden.
If not Payden, if you guysdon't have anyone, because don't
(00:54):
wait until the end of the yearor the beginning of the year to
try to figure out and now you'replaying catch up.
Right, you should be figuringthose things out now.
It's September.
Believe me, December, January,is going to come a lot faster
than you think.
But without further ado, Peyton, thank you so much for taking
the time out to hop on theMindset Cafe.
Absolutely, man, I appreciateit.
I'm excited to be here.
So I mean, I like to alwaysstart off with a little bit of
(01:15):
your backstory.
How did you get into thefinancial planning, the
accounting, all that.
What led you to that road?
Speaker 1 (01:23):
the accounting, like all that.
You know what led you to thatroad?
Yeah, yeah, Great question, youknow it.
It really goes back to to mychildhood.
You know.
I grew up a single family homein a, in a single mom, a mom
situation.
Speaker 2 (01:35):
You know what?
Speaker 1 (01:35):
why we didn't have you know we weren't like
completely destitute or anything, but we did.
We did have struggles, right,and it's certainly things I knew
or recognized as a kid that youknow, maybe we had a little bit
less than others and in times,you know, I remember stories of
when my mom actually got laidoff from a job and my grandma
being there and being anxiousand everything about it and as
(01:56):
like a 10, 12-year-old kid, thatwas like a huge you know burned
into my mind of you know theanxiety around that, right, and
so that drove me.
You know the anxiety around that, Right, and um, so that drove
me, you know it.
It drove me into the world ofmoney and finance, right, I just
knew I never wanted toexperience that again, like as
an adult.
I mean, like my motivationprobably was nothing more than I
didn't want to be poor, as asnon-noble as I guess that that
(02:19):
is, but like that, that was myfear, right.
And you know that led me intostudying money and and you know
accounting and all those thingsin college.
You know I I went through thatand ended up getting a master's
degree.
I came out, you know, in themiddle of like the the 08, 09
recession, out of college, so,like everybody in finance was
getting fired from their jobs.
(02:40):
So I ended up getting a job ata little local bank.
You know, worked a couple yearsin a few different, you know,
insurance company, a local bankand then a large manufacturing
company, but quickly found outlike I'm not built to be an
employee at all, really, really,anywhere I was.
While I was a good employee youknow anybody would say I was a
(03:01):
really good employee like Ihated it.
I hated sitting in the cubcubicle doing whatever people
told me to do, bored out of mymind, kind of thing.
So when I did my last real jobI had, you know, back in, say,
2012, I ended up sitting therestudying for the CPA exam and
that was my escape plan.
My escape plan was to study forthe CPA exam.
(03:22):
As soon as I passed, I quit myjob and opened up my own firm
that happened in 2014 and growninto what it is today.
Speaker 2 (03:33):
That's awesome.
That's the hard thing.
A lot of people will getfrustrated with their current
state, whether it's being anemployee or you know something
in their life, but no one, a lotof people, don't want to take
that step, or take that you know, that step off the ledge and
into the unknown, and so for youto do that you know is is huge.
(03:55):
What was what were some of thefirst like unknowns that you had
to experience, going fromemployee to business owner?
Speaker 1 (04:04):
Yeah.
So I mean you know, you knowthe listeners know, yeah, it was
scary, you know, I mean it wasthe best decision of my life,
but I didn't know that at thetime, right, I didn't know how
this would play out but but yeah, I mean, for me it was.
It was leaving a safe corporatejob, a safe corporate paycheck
right, or at least theperception of it being safe.
Um, and and jumping down on myown and and literally, you know,
(04:26):
like day one I'm sitting herewith a laptop and like in my
living room.
I started this business in myhouse and.
I didn't really even know whatto do, like, hey, I need to
figure out how to get clientsand and and make money Right and
and so it it.
You know, I I had a.
My situation was a little luckybecause my my wife at the time
(04:47):
was finishing, finishing upnursing school, so she was like
going to start her first realjob.
Before that I was like the onlyone really making money, so it
was like a good timing of likeshe was coming on board to make
money and then I was just goingto quit at the same time.
So we were like in the almostthe same financial place and
that really gave me the runwayto.
You know, just jump and jumpinto it and see what I can make
happen.
Speaker 2 (05:08):
No, that's, I mean, that's awesome, I mean, and
that's did you.
Were you starting to liketransition into becoming an
entrepreneur while you're anemployee or did you do what I
kind of did and just kind ofjump ship?
And you know, I just jumpedship, yeah.
Speaker 1 (05:23):
I just jumped ship and, and you know I you know for
the listeners or whatnot, likeI mean, you don't have to do it
that way, right?
I mean there, there aredefinitely ways, and maybe even
less scary ways to where you canbe building this, this side gig
, especially now with technology.
That you don't have to like justgo cold Turkey, quit your job
and jump all in, right.
So there there's definitelyways you can do it.
(05:50):
Um, maybe edging in, but thenat the same time, like are you
really committed, right, are youreally going?
Speaker 2 (05:52):
to go down that path.
If you're got your feet at both, you know what I mean in both
worlds.
Yeah, I think that's.
That's the hard part, at leastfor me, was like I'm that kind
of person that has to just goall in.
I mean, I've done it two times,like at each level, and I think
for the second time I don'tknow if I would have done it if
I wasn't in a similar state thatyou were in.
Um, when I was a, I had my ownpersonal training company
running, you know, six figuresand everything, and then opening
(06:14):
up my gym, which is now afranchise, you know, we
franchise it.
But opening the gym, I had togo from six figures to no
figures, right, but my wife my,my wife was making money and
doing everything.
So it was like, okay, like we'regood for a little bit while we,
we transitioned, so that it wasa.
It was a jump all in, but amore strategic jump on the
(06:36):
second one.
Speaker 1 (06:36):
Yeah Well, and I think it's important, I think
it's important to realize, likeyou know to to move to that next
level.
Often you do that to take thosecouple steps back right, like
you almost kind of like break,break it down before you can re
rebuild it, and that you knowthat's what it is like, your
income you know you're gonnahave to take a hit in the short
term, but understand that, likeyou know, hopefully the future
(06:57):
is a whole lot better.
Speaker 2 (06:59):
That's the.
That's the goal.
You know what?
What are some of the financialchallenges?
You would say that a lot ofentrepreneurs, and even maybe
yourself, when you first becamean entrepreneur, you know face
and how do you help themovercome them.
Speaker 1 (07:13):
Yeah, I mean the, the , the biggest issue I see with
with entrepreneurs especially,you know, especially ones that
say you're under, you're under amillion dollars, right, and
you're still a million inrevenue and you're still
figuring out a lot of stuff.
You don't really have a lot ofsystems.
I mean they're justdisorganized.
I mean just flat outdisorganized.
And many entrepreneurs they getinto whatever their business is
(07:37):
because they're passionateabout it or they like doing it,
or they're really good at somespecific service or thing they
do, but that doesn't mean theyknow anything about finance or
running a business, or you knowthose things.
Those are totally different.
Skill sets, right, andaccounting and taxes and numbers
and stuff, especially for a lotof people, can be intimidating,
right.
Speaker 2 (07:57):
And.
Speaker 1 (07:57):
I often see where entrepreneurs it's like they
just don't look at it becausethey don't you know what I mean.
They don't fully understand itand it's just like, hey, if I'm
not looking at it, I'm sure, I'msure it's OK, right, and and so
it's.
It's really just, I guess, alack of intentionality around a
lot of it, and you know, I wouldalso say that a lot of it's the
(08:19):
industry's fault.
You know I mean a typical CPAfirm, tax preparation firm.
They're not necessarily set upto help you with any of that
stuff either, right, like so.
So and this is why we'vedesigned our firm much different
.
But like the typical CPA firmis like they're just tax
preparers and there's nothingwrong with that.
But like many people get a CPA,get a tax preparer, and are
(08:43):
expecting something other thanthem just prepping your taxes
and they're not really motivatedor incentivized to do anything
else.
Right, they work with so manyclients and they're just
prepping your taxes.
And where a lot of theintentionality is lost is
there's nobody really planningwith you and actually walking
alongside, helping you makedecisions, helping you make
strategic decisions out there inin the marketplace.
(09:06):
It's just there's not a lot ofpeople doing that no, definitely
, and that's the hard part too.
Speaker 2 (09:12):
What I've learned is just like in fitness right,
that's, I'm in that industry.
Right, there's different,different levels to trainers.
Right like, everyone's acertified trainer, you know
whatever the case may be.
But you quickly learn thatcertain people have above and
beyond knowledge and dive deeperand continue their learnings
and so forth.
And same thing for CPAs,financial planners and stuff.
(09:36):
For example, when I firstbecame an entrepreneur, the
person I was using for my taxesknow the, the person I was using
for my taxes.
I quickly realized that this isprobably not the best person
because she didn't really knowmuch about, like you know, the
write offs and all that kind ofstuff.
And I was like okay, this is.
This is I got.
Speaker 1 (09:53):
I outgrew that person which is it happens and that's
normal and that's going to bepart of your process, especially
if you're you're growing.
Speaker 2 (10:10):
You know you're a rapid grower like, yeah, I mean,
you gotta up your relationshipstoo, yeah.
And then it happened again when,all of a sudden, I asked my cpa
you know a couple like taxadvantage questions that you
know I heard online, looked themup and stuff and he, his
response was, oh, I was actuallylooking into that too, it's
really.
And I was like, okay, if you'relooking into it like, and
you're trying to do this foryourself, you don't really know
about it yet.
I was like we might be on thatline, you know.
And then, launching thefranchise, all of a sudden, it
was like you know, now there's awhole different side of it.
That was like, okay, I think, Ithink we've kind of parted ways
(10:32):
a little bit here.
Um, with with yourself, thoughyou know what's one of the
things that, when people arelooking for someone like you're
saying, like you know afinancial planner or a cpa that
is doing what you know, you'resaying like you know a financial
planner or a CPA that is doingwhat you know, you're saying
like going above and beyond.
Speaker 1 (10:48):
Yeah, and just tax strategizing, I mean just tax
planning.
Speaker 2 (10:52):
Yeah, what are some of the things that maybe they
can ask them or kind of verifyto make sure they're getting the
person that they want?
Speaker 1 (10:59):
Yeah, I mean it's.
You know, obviously it's up forwhat you're looking for, but
you know, if you're looking forthat planning and strategist,
like I mean, you should betalking to this person three to
four times a year.
I mean minimum, you know, likeour process is.
You know, we make everybody meetwith us four times a year and
often we're chasing down theentrepreneurs like hey, meeting
(11:19):
time, it's time to have ameeting Because you know they
get busy and they're runningaround and stuff.
But yeah, you need to.
You need to ask questions oflike, what do you?
You know, how do you plan withclients?
How do you do you, do you offerany services that actually you
know, help me strategize todrive down my tax bill, not just
you know file my taxes correctand once again, that needs to be
(11:42):
done and most CPLs or CPAs arefantastic at you know filing the
tax returns.
But what can you do?
you know what are you going todo to help me make decisions and
strategize how to make thesituation better, not just
report it to the government.
Speaker 2 (11:58):
See, that's awesome.
Those, I mean those are perfectquestions.
So you guys, if you guys needsomeone, hit up, hit up Peyton.
So what are some of maybe thestrategies that can help reduce
some of that tax stress in likepractical terms from?
Speaker 1 (12:11):
an entrepreneur?
Speaker 2 (12:13):
Is it like weekly checks of your KPIs?
Weekly, you know what are your.
Some little key tips.
Speaker 1 (12:20):
Yeah, I mean, you know just yeah, I mean,
obviously you know havingdashboards, having KPIs, just
knowing kind of what your dailymeasurements are.
And you know that's not just infinance, you know, it's across
all the different pillars ofbusiness.
You know, other sales,marketing or whatever you know.
With this it's a matter of likethe tax planning kind of sits
(12:42):
on top of like your accounting,like the tax planning kind of
sets on top of like youraccounting.
And often, you know, I get, Iget some entrepreneurs that are
kind of up and coming and maybenot established as much and they
don't have very clean books orbooks at all, to be honest with
you, and that makes my jobalmost impossible to do Right,
(13:04):
because if I don't have theinformation I can't strategize
Right, or if I don't haveaccurate information.
So it's, you know, one is likeyou got to get, you got to get
clean account and especially ifyou're doing any significant
revenue, you got to get cleanaccounting because, one, it's
going to inform you to makebusiness decisions Right, even
internally, and two, it allows aperson like me to come in here
and really add value and getstrategic about how we recognize
(13:25):
income and how we recognizeexpenses and the timings of all
that, and then some even justbasic strategies we can
implement, like you know.
I mean I'm sure a lot of theentrepreneurs listening here and
whatnot have heard of like theAugusta rule, or have seen that
you know on the internet thatbounces around all the time
because it's I was talking aboutgolf and whatever, but like
that, that's a.
That's a very simple one that90% of um you know traditional
(13:49):
CPA firms will never even helpyou with.
Um and and just to get a quickrundown of what like the Augusta
rule is, it's.
You know anybody in the UnitedStates can rent out their
personal residence uh, for up to14 days a year and not at pay
income taxes on.
So, as business owners, the waywe strategize that and take
advantage of that is you knowyou're going to host legitimate
(14:10):
business meetings in your house,right, and we're going to pay a
fair rental rate and ultimatelythe business is going to pay
you rent for hosting businessmeetings in your house and
ultimately the business gets todeduct it.
You, as that person, since youwere in and out for less than 14
days, don't have to pay incometaxes on it.
And while that's not somemassive thing, you know, for
most people it could be three to$5,000.
(14:34):
And the reason most CPA firmsaren't going to set that up for
you is because they don't haveany processes around it, right,
they don't have any ability tohelp you do any of that, so
they're just going to say, hey,well, it's only a couple
thousand dollars, probably notworth doing right, to deal with
all this stuff.
Well, our firm, we've set upprocesses and things to make
that super easy for you todocument and have lease
(14:54):
agreements and really have a,you know, a file, in case you
ever were audited to say, heylook, this was all very
legitimate of what we did, right.
So this was all very legitimateof what we did Right.
So you know, we've really builtprocesses to help people
implement those smaller thingsthat you know nobody else is
going to actually help you dono-transcript.
Speaker 2 (15:26):
And that's like the surprising part, because the
guts of the rule and all thatkind of stuff only works if you
document, because if you do getaudited or anything and you
don't have any proof there'syeah, they're gonna take away
that expense.
Speaker 1 (15:42):
You're gonna have back taxes and penalties and
whatnot.
Yeah, yeah, going to take awaythat expense.
You're going to have back taxesand penalties and whatnot.
Yeah, yeah, and that's what youknow.
While I'm an absolutestrategist and looking through
the code of like, ok, right, andwe're going to put together
(16:02):
files and documents that saysanybody comes asking questions,
well, you know, here you go,what questions you got.
You know that kind of thing.
So, yeah, I mean, there'splenty of people out there that
will just, like you know or Idon't say plenty, so some people
out there that will you know,just do the Augusta rule have no
documentation and you know,hope for the best, and you know
(16:26):
it probably works out for a lotof them, but some people it
certainly doesn't.
Speaker 2 (16:31):
So I mean, like that's my thing is.
What I've kind of talked topeople about too in is my
understanding, at least myfeelings of taxes Right is it's
like a game right, and what Imean by that is the more you
know about the game, the betteryou can play the game right.
It's not that you're playing it, you know wrong or anything
like that, but if you don't knowthe different plays and
(16:51):
different you know strategiesthere's levels exactly.
There's levels to it, right, andin that's just what goes with
anything in life, right, but thenext, next kind of pivot I want
to take on it is how does themindset really play into
managing money and buildingwealth?
Speaker 1 (17:09):
Yeah, yeah.
So you know, I'm very big onmindset, you know, and of course
I have my own podcast and it'sall about very similar to yours,
right, about entrepreneurshipand mindset and all those things
.
And I think you know, I thinkyou know, I think what makes me
different, even just as a, youknow, as a money guy or even you
know, you can kind of tell I'mprobably not a typical CPA
(17:30):
personality.
But what, what makes medifferent is, you know, I really
do consider myself anentrepreneur Right.
As you know, I I mean I callmyself the entrepreneur's
accountant Right Because I livein that world so much as an
accountant right, Because I livein that world so much, I work
with so many dang entrepreneursand in lots of mastermind groups
and stuff where we're doingroundtables and picking each
(17:50):
other's businesses apart and allthat kind of stuff.
So it's, I think, like you said, there's so many different
layers to this and there'salways another, you know another
level to play the game at andit's having the mindset of
growth and and wanting to keepadvance.
You know it's you.
Not only do you got to do thatwith yourself, but also with you
(18:10):
know, with your vendors, as you, as you continue to grow, like
you said, you've kind of gonethrough different professionals.
I've done that in the same,whether it's, you know,
marketing or different thingsthat were people helped me, um,
get to the level where I was at.
But I wanted to keep going,going and I, you know I needed,
I needed to involve somebodyelse that has already seen those
roads right, I've already beendown those roads right.
(18:33):
You know, I didn't want tonecessarily go with my vendor
because they would be learningit with me at the same time,
right, I'd rather just skip thatstep, go find somebody that's
already been down that road andthey can take me down.
That know quickly, right, andthey know where they're going no
, definitely so.
Speaker 2 (18:48):
I mean with with a lot of the entrepreneurs that
you talk, to right their mindsetabout their, their money.
Is it more on like, especiallyif you don't know your numbers,
you can't improve your numbers,right?
Yeah, so their mindset isn'treally developed around you know
, whether it's an emotionaldevelopment or just a analytical
(19:09):
development around their actualfinances?
How do you start to preparethem to understand sometimes
spending money Right, like youknow, in a SEP IRA or something
like that, that expenditure isactually a benefit and it's not
losing money?
Or you know, how do you startto kind of help them develop
their mindset?
Speaker 1 (19:28):
Yeah, and it's, it's, you know one, it's developing a
relationship right, I'm, I'm,you know I'm, I'm very
relational guy and and you knoweverything I do is, you know,
trust and money and and, and youknow the, the, all those types
of things and and you know.
I'm very aware, like you know, Iunderstand it's not just a
logical game, right, you know I,especially around money.
(19:49):
You know everybody has so muchemotions around money and you
know you're carrying whateveryour parents did with money and
all those habits and whatnot,right, so it's it's.
You know, I understand it's not.
It's not just like a lack ofinformation, right, it's not
generally not the problem, like,like you, you're in fitness
space, right, it's not likepeople don't know generally what
(20:10):
to do.
Like you know, they know theyneed to work out more and eat
less calories generally, right,if that that's how they want to.
You know, and and and in taxes,and once again, like there's so
many more levels to that, butlike the base level is, you know
, people kind of kind ofunderstand that levels to that,
but like the base level is, youknow people kind of kind of
understand that.
So it's more of a, it's more ofa habit thing, right, right,
(20:31):
and and and helping peopleunderstand and and make better
choices and and seeing thelong-term gain.
Um, right, because everything's, uh, you know, can I have it
now?
Or if I delay gratification, itcould be better.
You know, years down the road,and that's always the tradeoff,
and especially in money, it'sit's the more you can delay
gratification.
Or, you know, keep doublingdown and rolling money forward
(20:53):
and whatnot you get, you get themost growth.
So it's it's trying to alwaysget entrepreneurs to see the
bigger picture.
And now, at the same time, it'salso it's like I have a lot of
conversations with entrepreneurs.
It's like, so, like, whatproblem are we solving for?
Like, what is the end game here?
Right, like you know, everybodywants to pay less taxes and
make more money.
(21:13):
Sure, but like, to what end?
Like, what are, what are weactually?
You know what is your business,what do you like?
What's your vision?
What are you actually trying tobuild?
Because, you know, make moremoney and pay less taxes, I mean
, there's a million differentthings we can do but like,
depending on what you'rebuilding that's going to inform
(21:35):
you know the strategies androads we ultimately take?
Speaker 2 (21:36):
no, definitely, um, I mean with that, though man.
I was, I lost, I had somethingthat you're saying, that it was.
It clicked in, it clicked myhead.
I was like man actually.
I was just thinking lost that Ihad something that when you're
saying that, it clicked in myhead.
I was like man.
Actually, I was just thinkingabout that the other day.
Speaker 1 (21:50):
I do that all the time.
Speaker 2 (21:53):
It'll come back to me , but I mean, is there, oh,
actually a little side question?
Yeah, and this is more for kindof like a personal question too
, because you have financialplanning right and then you I've
met, you know, fractional CFOsand so forth, and so what's the
difference for entrepreneursbetween someone that is actually
(22:17):
like a financial planner thatwill help you plan your finances
, and whether it's with thebusiness and your personal?
And what's the differencebetween like a fractional CFO?
Speaker 1 (22:25):
Yeah, you know a fractional CFO is going to be.
I mean they're going to berunning your internal.
You know your internal financefunction right.
You know you usually seefractional CFOs maybe get
involved in businesses.
I don't know, maybe 3 millionup generally, you know, maybe
not even till five or seven orsomething.
It just kind of depends on thebusiness.
(22:45):
But you know they're.
They're in there running thefinance function and you know
where you've got enough stuffgoing on that that it's worth
having a high level person inthere just making financial
decisions all the time andmonitoring and budgeting and
being strategic there.
You know I don't know very manyfractional CFOs that work in
(23:08):
tax at all right, like as inthat.
That is not.
I mean, I'm sure there are some, but the vast majority aren't
right there.
They're just there as likealmost an outsourced employee to
run your finance functions.
You know, generally.
Even then you know I work with alot of organizations that have
a fractional CFO and you knowwe're coming in and doing their
(23:28):
strategy around taxes and,ultimately, the net worth
building of the you know theowner Right, so that you know, I
think that's kind of thebiggest difference the CFOs are
really.
I mean, they're internallyworking on strategizing of like
business growth and things likethat.
Working on strategizing of likebusiness growth and things like
that Right, and somebody likeme is is coming in and and you
(23:49):
know I'm very specific in thetax world and you know, while we
do provide a lot of businessconsulting too honestly, with
just the vast amount ofbusinesses we've worked with
over over the years we canusually add value in a lot of
those places too.
But you know we're very focusedon how do we grow the business
owner's net worth as efficientlyas possible and and accomplish
what goals?
You know, obviously they want.
Speaker 2 (24:10):
No, definitely.
I think the reason I asked thattoo is is I've I mean you hit
up, you know, and I'm sure youdo as well, on social media from
like LinkedIn and Instagram andstuff.
Yeah, and it's like and I thinknot like understanding, like
your, your tie between, you know, cpa and financial planning
makes complete sense.
And then that separationbetween CFO makes complete sense
(24:32):
.
But I've seen just financialplanners without a CPA or a CFO
connection and they kind ofblend into like a CFO but
they're not a CFO and it's likethis weird little you know
mixture of wanting to touchevery world.
Speaker 1 (24:51):
Yeah, yeah, and you know, yeah, I mean the vast
majority of financial plannersare like asset managers, is what
I would say.
They help you invest your moneyin new weather stocks and bonds
or whatever that is help youinvest your money in new weather
stocks and bonds or whateverthat is.
You know and and you know I'mnot not you know why I do.
I do financial planning and nottalk about you know bad, about a
(25:12):
bunch of financial planners,but like very, very little of
them have extensive taxexperience at all, which, which,
in my view I mean the tax issuch a huge part of all that,
like you can't really dofinancial planning without
understanding tax, because taxesI mean the biggest expense and
all that and what you constantlyhave to keep in mind as you're
(25:34):
making moves and investing indifferent things is like what
are the tax implications of thisand how can you know if I go
into this investment, how can Iget out and how I'm going to
deal with the taxes and allthose things?
And, and you know, there thereare a lot of just kind of retail
financial planners that youknow you come in and they just
stick money in mutual funds andthe advice is not very high
(25:56):
level.
Speaker 2 (25:57):
I think, okay, that makes more sense.
Um, I do have a question on astrategy or potential strategy
that I've kind of heard about,and then it's funny enough that
I saw it yesterday.
It was about capital gains,right, and capital gains and a
trust.
I forget what kind of trust.
(26:18):
I know there's different kindsof trust, but it was saying
essentially that if you put yourassets into and I don't know
what they qualify- as assets,maybe a beaded trust?
I'm guessing maybe.
But then if you sell the assetswhile it's in the trust, you
deferred capital gains yeah.
Speaker 1 (26:33):
Deferred sales trust yeah.
Speaker 2 (26:35):
Oh, that's a real thing.
Speaker 1 (26:38):
It is.
But you do have to be carefulabout what is done and who's
doing it.
And you know, with any of thesethings, you know with any tax
strategies and whatnot like,there's a lot of great people
out there and then there's a lotof people that you know are
trying to sell you somethingright, and yes, so deferred
sales trusts are absolutely athing that's usually only coming
(27:01):
into play at pretty high levels.
You know what I mean thosethings are.
When you start talking aboutmaybe you know high seven,
definitely an eight plus figure.
You know transactions and stuff, generally things under that.
You're not doing that kind ofstuff.
But yeah, deferred sales trust,there's ability to sell assets
and no trust and you can loanmoney against it and it allows
(27:24):
you to kind of basically defercapital gains.
Is what it can do.
Speaker 2 (27:28):
Oh, got you.
So I mean, and then the reasonI wanted to bring that up is
that I also heard that you can.
And again, this is all.
I have no knowledge of thesethings that and put their
business into the trust or soldthe business in the trust or
(27:49):
something, because doing it thatway versus creating the
business you can't.
I guess the trust couldn'tcreate the business.
You had to basically sell it tothe trust or give it to the
trust and it deferred taxes orsomething.
Is that?
Speaker 1 (28:03):
yeah, yeah, yeah, yeah and that that's kind of the
the overarching deferred salestrust kind of model.
You you know you ultimately endup kind of selling the business
into the trust and it getscomplicated and specific.
But yeah it can allowdefinitely for you to defer,
defer capital gains, absolutelyyeah.
And and you know, and thatthat's one way.
There's, I mean there's,there's millions.
I mean I say millions.
(28:23):
There's, I mean there's,there's millions.
I mean I say millions there'sdefinitely others too.
You know one one I would tellyou about.
That's it's going to be reallybig.
Starting back up in 2027 iswhat's called opportunity zones.
Opportunity zones are out ofthe one big beautiful bill here
we got.
We got opportunity zonesreturns.
Opportunity zones are likeareas governments draw and say,
(28:45):
okay, these are economicallydepressed areas and there's tax
benefits for investing in theseareas, right.
So what happens is peopledevelop funds you know they're
building real estate or whatever.
Of course, with any of thesethings, you need to worry about
the underlying investment andhow confident you are in that.
But the tax structure is what itis.
You know, opportunity zonefunds allow you to take a
(29:07):
capital gain.
Let's say you sold an asset andhave a million dollar capital
gain.
You can take that milliondollars and dump it into an
opportunity zone fund.
Say this happens in 2027.
Your tax bill on that milliondollars gets delayed all the way
to 2030.
I think it's 2034.
So it's like seven years.
So instead of paying thatcapital gain tax now, it gets
(29:29):
delayed seven full years.
And then these funds aredesigned at year seven that they
will kick you out ofdistribution a tax-free
distribution at that point topay your tax bill that's due in
year seven, right?
And then if you hold on to theunderlying investment for 10
years or more, there's no taxesat all on any of that growth.
(29:50):
So you think about it as youdrop a million dollars in, you
know you're going to get yourcash in year seven out of it to
pay that tax bill.
And then, you can ultimatelyexit the investment tax-free at
the complete end, and so that'slike how opportunity zones work.
Of course, you really got tovet what the actual investment
(30:12):
is and that kind of thing.
Speaker 2 (30:14):
But it's a very powerful opportunity.
Mad Fientist, no, that's huge,that's awesome.
I mean, what blind spots do youthink that most entrepreneurs
have with their finances?
Speaker 1 (30:28):
I think they just don't know what's possible.
And part of that is just youknow, you don't know what you
don't know, and that goes forall of us.
We all don't know right, andyou know it's always just
evaluating.
You know your relationshipsright Even.
You know your vendors, yourrelationships, your employees,
(30:48):
obviously all your relationships, your employee I mean obviously
all your relationships.
But about your relationships isis this person going with me to
the next level?
Right, um, and?
And are they capable of youknow, going with me to the next
level?
And?
And and, even better, so, havethey already been there?
Like, have they already beendown there, in, in, in, even in
their own personal life?
Right, um?
So it's, it's I.
(31:10):
The blind spot is you know, youjust don't know what you don't
know, and often their strategy Imean almost certainly their
strategy that can be implementedand value that can be added,
just depending on your situation.
But I think it's just gettingaround people that can help you
do that.
Speaker 2 (31:30):
Got you One last random, tending, a tangent
question, and this is this wasthis?
Was that random thought that Ihad Just came back to me Going
back into, like the trust thing,the the Roth I think it's
Rothschild like method right,where it's like everything's in
the trust and they're puttinglike assets into the trust and
(31:53):
then you're taking draws fromthe trust or something like that
.
Speaker 1 (31:55):
Is that something that people actually do or Um,
yeah, well, you talk, I think itwas.
It was probably not Rothschild,it was probably Rockefeller the
Rockefeller.
Yeah, yeah, yeah, the big, thebig, big, um big trust stuff.
Yeah, I mean it's you know thethe things with trust, and I'm
definitely not an attorney the.
Thing with trust.
They allow you to reallycontrol, ultimately, what the
(32:17):
assets do, even after your death.
You can describe what all thismoney is for and who can take it
and for what reasons.
And yeah, you know Rockefellerwas very key on.
You know legacy and not justpassing on assets, but you know
passing on the principles andthings that allowed them to earn
(32:40):
all those assets, right, and sothey developed a trust systems
to where.
Hey, you know this is there'srules around how all this money
works.
Because you know you look at adifferent family.
You look at the Vanderbiltfamily um, two, three
generations after them they wereall broke um and and, and you
know they were like Rockefellersand Vanderbilts were way up
there together and then, if youknow, you don't pass on, money
(33:03):
generally doesn't go throughGenerations very well, right,
often it goes to like onegeneration and it's gone, um, so
it's, it's the.
The awesome thing about trustis it can allow you to not just
get money to the next generationbut hopefully even through the
next generation, right?
Speaker 2 (33:19):
got you.
So this might not be a cpaquestion or even a financial
planning question.
It may be, but it might be moreinto your entrepreneur side and
knowing numbers right.
What are the top KPIs thatsomeone or an entrepreneur
should be tracking to focus ontheir growth?
Speaker 1 (33:39):
Yeah, one, just margins.
I mean often people have noidea, especially if you're in
like a product based business oreven even really services
depending, depending on yourbusiness model, but like most
people don't know their mostpeople don't have clear line of
sight to to really.
I mean, like nothing shocks meanymore to see multimillion
dollar businesses that don'thave clear line of sight to
(34:00):
really really anything.
You know they got an internalperson to their accounting that
like kind of knows what they'redoing and so it's, it's, it's
just it's's a pure lack of lackof sight and a lot of it is.
You know margins.
You know if you're a productbased business, or you know
construction or remodel orwhatever, like job costing,
knowing like did I actually makemoney on this job?
(34:22):
I just did, or not?
Or I'm like pretending like Idid Right, and and then also
just I mean just flat out, net,net profit margin, right.
Like you need to know,especially like you're in the
construction world or whatever,like what is your profit margin,
what should your profit marginbe on every job?
And then that allows you toback into figuring out okay, how
(34:49):
do we hit a 20% net or whatever?
That is right.
So it's all margins.
Of course you got to worryabout you know overhead and just
random expenses and stuff, butit's really just making sure
you're hitting the margins youneed to hit to make whatever
money you need to make.
And the issue is that like noone even does that math or even
things, are very very few peopledo.
Speaker 2 (35:10):
Yeah, no, I think that's, that's a big one.
Speaker 1 (35:12):
Um, I mean, even for me, like I do do my numbers
every, every Friday, so that Icould just see and keep track,
and plan, plan out the next week, and that was something that
well, and I would say the theother part that just just come
to mind as well, it's just likecashflow.
Um, you know, obviously you canhave a very profitable business,
a very profitable, growingbusiness, and still run a
(35:34):
serious cash problems.
Um, you know, especially ifyou're like a product-based
business and you always got toreinvest in inventory and you're
growing company and at somepoint that kind of like breaks
and you run out of money eventhough you've been making money
the whole time.
Um so, so cash flow iseverything right like you've got
.
You know you can't like payyour bills with your inventory
or feed yourself with yourinventory, right, you got to, um
(35:55):
, you got to manage cash flowand have a line of sight,
especially if you're, like youknow, fronting job costs and
things like that.
Speaker 2 (36:03):
And I think that and that's one of the big things,
that the reason why we startedtracking every Friday and how I
found out I kind of outgrew, youknow, my, my current year, my
previous CPA was getting gettingPNLs.
Like a month and a half after,like it was already done.
I was like, okay, I'm, I'mbeing reactive to everything you
know awesome you know, but alsomaking decisions and I was
(36:27):
buying inventory for the gymlike supplements and stuff, and
buying, you know, a bulk to getthe 10% discount and then it was
like okay, well, we're sittingon so many supplements that
we're we're buying more than weneed and we're just doing it for
the 10% discount.
Like this is not.
This is killing the marginsright, yeah.
So I think that was one of thebig things like actually knowing
(36:48):
the numbers and being able tomake decisions on a weekly basis
or monthly basis.
But knowing your numbers, evenkind of almost somewhat live,
you know, allows at least me tomake better decisions.
Speaker 1 (37:01):
Yeah, yeah, and I think just having like a basic,
like cash flow projections,especially even just with you
know, with you know, you sayyou're buying all this inventory
, right, like knowing that, like, okay, here's the timing of the
next few months of, like, mybills coming in and probably the
income I'm going to recognizeis like, is it?
Do we hit any point in therewhere, like, oh, the money's
gone, right, and and so, and, ofcourse, the further you can see
(37:21):
that out, you know, the moreyou can do about it.
Right, and it's just makingsure that you're not running out
of cash.
Speaker 2 (37:28):
Exactly so I got one final question that I ask
everyone, right, and it doesn'thave to be a financial answer,
right?
But the one thing I'll say isit's not a tombstone.
I say that and people stillsometimes give me a tombstone
answer, right, this is thePayton Squires legacy wall.
On this legacy wall is anymessage that you have learned
(37:50):
from your life's journey, rightprofessionally or personally.
What is the one message youwould leave for the up and
coming generations?
Speaker 1 (37:58):
wow, kind of sum up my life in one one, one sentence
, huh, um, you know I I if I hadto put put it on there is that
with enough time and energy putinto something, you can get
better at it.
And I think Tom Ballou is apodcaster I listen to a lot too.
(38:22):
He does impact theory, founderof Quest, nutrition and whatnot,
and he calls it the only beliefthat matters.
right, if you have the beliefthat if I put time and energy
into something, I will improveat it.
That's the only belief thatmatters, because if you don't
have that belief, you will neverstart and you never will get
good at it right.
So it's having the belief thatyou can really do anything and I
(38:43):
truly believe this with enoughtime and energy 100%.
Speaker 2 (38:47):
I believe that too.
I love it.
Well, where can people connectwith you and follow you and
learn more about you?
Know tax planning and financialplanning?
Speaker 1 (38:57):
Yeah, yeah, a hundred percent, yeah, so, um, you know
, on the tax planning side it's,it's squirestaxplanningcom.
So, um, you know, there you canbook a call with us, love to
chat, chat with you guys aboutyour situation and see if you
know, see if we can be any helpfor you.
On the personal side, I havePeyton Squires out there.
You can find me on YouTube andall the social media places.
On that side, of course, I gotmy podcast Behind their Success
(39:24):
where we interview a lot ofawesome entrepreneurs and get
their stories and share a lot ofmindset and tips and stuff like
that.
On the personal side, just lookme up, I'm all over the place,
my name, and then you know ifyou're interested in tax stuff
squirestaxplanningcom book acall with me.
Speaker 2 (39:40):
Awesome.
All that will be in the shownotes, guys.
But make sure you guys sharethis episode with a friend.
If you know an entrepreneurthat struggles with their taxes,
definitely share this with them.
But leave that five-star review.
It really does help us out andspread the word for the
entrepreneurs and just formindset, Right.
But, Peyton, thank you so muchagain for taking the time out of
your day to hop on the MindsetCafe.
(40:07):
I can't be distracted.
I stay on my grind.
No time to be slackin'.
I hustle harder.
I go against the current Cause.
I know my mind is rich to becollected.
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