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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Mentioned in this episode:

Be on the Contractor Intervention! - https://thecontractorfight.com/intervention

Why the Fed Is Shrinking the Balance Sheet