Episode #21 – Small Business and Tax – With Estevez Tax Prep
Bio: Eric Estevez has been in the tax & accounting field since 2008. His experience was gained while handling clients of all sizes, from mom & pop shops to billion-dollar institutions. His inspiration comes from books such as “Rich Dad, Poor Dad”, “Think & Grow Rich”, and “Awaken the Giant Within”. These books instilled a financial mindset of success from a young age. Eric is committed to spreading the message of financial literacy through Estevez Tax Preparation, LLC.
Show Description: Eric and I met at FinCon in 2016 and Have been in touch since then. We talk about heaps of tax skills, notes, and ideas small businesses should incorporate into their behavior to minimize taxes and stay awesome.
1:55 – Eric’s Skill With Taxes Precedes Him
2:40 – Why People Don’t Learn Taxes For Their Business
3:30 – A Few Reasons For Professional Tax Services
4:40 – A Trait Of Successful People And Successful Small Business
6:15 – Why Everyone Needs A Book Keeper Now (Hint: The Job Market Is CHANGING)
6:45 – Most Common Tax Problems In Small Business
8:10 – A Rule Of Thumb For How Much To Save For Taxes When You Work For Yourself
9:10 – Business Write-Offs and Expense Tracking
11:00 – Commingling of Funds – The First Step In Business Expense Tracking
13:00 – How To Reduce Preparation Fees for Taxes and Balance Sheets
14:00 – The Value of Having a Monthly Accountant Instead of a Once A Year Tax Preparer
15:30 – Leveraging Your Money Wisely – The Importance of Monthly Statements
19:20 – 1099 VS W-2 : What?
23:40 – Minimizing Taxes
25:12 – Money Maxim from Eric and Contact Info
“Know Your Numbers” – Budget, Net Worth, Income, Expenses
“If You Don’t Know Your Numbers, You Don’t Know Your Business”
Contacts and Links from the Show
www.EstevezTax.com – Eric Bookkeeping and Tax Prep Service
Estevez Tax’s core services are tax, bookkeeping, and payroll. They also provide many other tax/accounting functions like estate, business valuations, etc.
1) Tax covers planning, estimated payments, preparation.
2) Bookkeeping services will provide monthly financials
Drop FinancialGinger in your contact for a Discount!
www.JiuJitsuFinance.com – Eric’s Finance Blog
www.Saving-Sherpa.com – Look Up Justin’s Budget Worksheet
Some Book Recommendations from Eric Estevez
“Rich Dad, Poor Dad”,
“Think & Grow Rich”, and
“Awaken the Giant Within”