There is a difference between a tax professional and a tax preparer. Today’s guest falls into the tax professional category, and he is a long time friend to the host of the show. Marcelino Dodge is the President and Owner of Cash Tracks Financial. Marcelino joins host Valerie Cobb to talk about how business owners can work their way out of the confusing maze of revenue.
Takeaways:
- Keep tax planning in mind when dealing with a tax professional.
- There are many successful businesses where the owner is the sole proprietor but it can be helpful to have another person look over the fine details of the company.
- A tax preparer is the person who seasonally gets taxes ready for people, while a tax professional is someone who works year round.
- Every company needs a good cash flow statement and you can also get good credit for your business by taking the time to look at ways to get R&D credits.
- A tax professional can help you to better understand the confusing parts of getting your taxes in order.
- A piece of equipment that you want to offload could become a future deductible in future years and actually help out with your cash flow.
- You want to start your tax preparation earlier than when the season starts because that can give time to really understand it be best prepared.
Quote of the Show:
1:16 “Always keep tax planning in mind in dealing with a tax professional.”
Links
- LinkedIn: https://www.linkedin.com/in/cashtracks/
- Website: https://www.linkedin.com/company/cash-tracks-financial-inc/
Ways to Tune In
- Amazon Music - https://music.amazon.com/podcasts/7d80f727-4d62-4d16-a0c9-96ec7bda6c6b/the-revenue-maze
- Spotify - https://open.spotify.com/show/6azAXp0qFgrmjcql0jeJM8
- Google Podcast - https://podcasts.google.com/feed/aHR0cHM6Ly93d3cucmV2ZW51ZW1hemUuY29tL2ZlZWQueG1s
- YouTube - https://youtu.be/FZQ_gicqxjA
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