In this episode, Tom sits down with financial expert Claudio Gambin to explore strategies for managing your finances as a contractor, reducing tax liabilities, and protecting your assets. From taxes to asset protection, Claudio offers actionable insights that can help contractors maximize profits and safeguard their financial future.
Episode Highlights:
- [00:00] - Intro and special offer details
- [01:13] - Claudio’s background and unique approach to unbiased financial consulting
- [03:40] - Current economic outlook and why contractors should “stack cash” during uncertain times
- [05:16] - Key principles for building a recession-proof business
- [06:14] - Low-hanging fruit for building a business to sell, even if you don’t plan to sell
- [08:31] - The role of personal investment for smaller contractors and larger businesses alike
- [10:29] - The importance of reinvesting surplus cash flow back into the business
- [11:55] - How a 50% gross profit goal compares to traditional investment returns
- [13:16] - The debate on diversification versus doubling down on your own business
- [16:10] - Building liquidity and minimizing fixed costs to stay prepared for future opportunities
- [17:09] - Strategies for using business earnings to invest in real estate for tax efficiency
- [19:01] - Benefits of real estate investments within a business structure for asset growth and tax reduction
- [23:07] - Why construction businesses have unique tax advantages
- [27:24] - Tax strategies for small business owners, including credits, depreciation, and deductions
- [30:15] - The importance of year-end tax planning with a proactive CPA
- [32:05] - How to choose the right CPA and the value of strategic tax planning
- [33:55] - Asset protection basics: separating business and personal assets, auditing insurance, and updating operating agreements
- [35:21] - Tax efficiency in construction: avoiding overpayment and maximizing tax strategies
- [43:45] - Turning threats into opportunities with strong operations and a solid balance sheet
Resources:
Book a FREE 30-minute consultation with Claudio:
https://gfgsolutions.com/
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