💰Year end tax planning with Jamie Trull (Alt title: Make your kid a millionaire!)

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Year End Tax Planning with Jamie Trull - Alternate title: Make your kid a millionaire!

Are your year-end tax preparations causing you sleepless nights? What if I told you there are strategies to transform this dreaded task into a source of growth for your business? Today, we are joined by the brilliant Jamie Troull, a financial literacy coach, and profit strategist who shares her journey from a corporate CPA to becoming a champion of financial education for small businesses.
We navigated through the process of tax planning, not just as a compliance practice but a strategic tool for business growth. She shared her unique experience on how the pandemic led to a strategic pivot in her business, causing the exponential growth of her Facebook group from 5,000 to 30,000 members.
Jamie offered practical tips on how to maximize write-offs, understanding deductions and the brilliant strategy of hiring your kids. 🏆
Towards the end, we dissected the significance of understanding business books and write-offs. Jamie's insights on how to use documents like profit and loss statements and balance sheets to make informed decisions were spot on.
Also, we played a little game of tax deductions for subscription box businesses, from the importance of having a business bank account to the best way to document expenses.
Whether you're just starting out or running a successful subscription box business, this episode is packed with nuggets of wisdom that will empower you to take control of your financial future. Tune in, and let's conquer those tax fears together!
Links:

• Jamie's video on hiring your kids
• Hiring Your Kids Toolkit
• Follow Jamie Trull on Instagram
• Jamie's S Corp Toolbox
• Jamie's P&L template

Some of the links above may be affiliate links.

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Chapter

1. Tax Planning for Subscription Box Entrepreneurs (00:00:00)

2. Tax Planning and Small Business Growth (00:03:27)

3. Year-End Tax Planning and Organizing Tips (00:07:59)

4. Understanding Business Books and Write-Offs (00:17:21)

5. Understanding Tax Deductions and Budgeting (00:21:52)

6. Tax Deductions for Subscription Box Businesses (00:26:37)

7. Benefits of Hiring Kids for Taxes (00:36:54)