Gary Heldt: Mastering Your Finances: The Key to Long-Term Success

💼 Are you building your business without a forward-looking tax strategy? You might be leaving thousands on the table. This episode is your wake-up call. In this episode of Legacy Leaders, Stan and Katie Beth sit down with Gary Helt, CPA, Certified Tax Coach, and owner of Small Business Advisors. Together, they explore the powerful difference between tax preparation and tax planning, sharing valuable insights and practical strategies to help small business owners lower their tax burden and build smarter, more sustainable financial futures. Gary draws from his extensive experience to discuss the risks of reactive tax filing, the rise of misleading online financial advice, and proven techniques for legally reducing taxes. This episode is a must-listen for business owners, entrepreneurs, and high-income professionals, providing both the mindset and tools to take control of your financial story. 🎯 Key Takeaways: ● 📊 Tax Planning ≠ Tax Preparation: Most CPAs are historians, not strategists. True value comes from forward-thinking planning—not just form filing. ● 🏠 Use the Augusta Rule: Rent your home to your business for up to 14 days and receive tax-free income—a simple strategy often overlooked. ● 💰 Stack Your Strategies: Layering multiple tax strategies (like defined benefit plans) can drastically reduce your tax bracket—sometimes from 37% to 24%. ● 📉 IRS Audit Trends: Schedule C and E filers are facing more scrutiny, especially as the IRS relies on newer, less experienced agents. ● 🚫 Beware of TikTok Tax Advice: Misleading or outright illegal financial advice is everywhere online. Know who you’re listening to—and verify everything. 🗣️ Quotes from Gary Helt: ● "There’s a big difference between tax preparation and tax planning—preparation looks backward, planning looks forward." ● "The IRS has more money, more time, and more power than you do—you have to play smart, not just aggressive." ● "Just because you got it for free on social media doesn’t mean it won’t cost you everything in the end." 🔗 Conclusion: Don’t wait until year-end to think about taxes. Strategic planning now could save you more than you realize. Listen in and start planning forward—not backward. Want more from Gary? Find him on LinkedIn or visit SBAdvisors.cc. Also, check out his podcast: Grow Your Business and Grow Your Wealth for more expert insights. Learn more about your ad choices. Visit megaphone.fm/adchoices