Mar 03 2025 45 mins
Demystifying Taxes: Insights for Business Owners | The Mills Knows Bills Podcast Episode 43, Season 5
Link to video podcast episode: https://youtu.be/CykZRwgPKZQ
Welcome to Season 5 of The MKB Podcast! Host Mills Bender, founder and CEO of Mills Knows Bills, discusses strategies for business owners and variable income earners to manage their finances effectively. Let's get to those burning financial questions!
In this episode, Mills is joined by tax strategists Drew Clukey and Tyler Tebault of Clukey & Tebault to discuss crucial topics around tax planning and strategies for business owners. They explore the importance of proactive tax planning, differentiate between accountants and tax strategists, and debunk common tax myths. The guests also share personal anecdotes from their careers, provide advice for new business owners, and highlight the value of consistent communication with your tax professional. This episode is packed with expert insights to help you navigate your taxes more effectively and avoid common pitfalls.
To connect with Tyler and Drew:
Website: https://www.clukeyandtebault.com/
Tel: (904) 679-3119
Email: [email protected]
Do you have your own burning financial question for Mills or the MKB team?
Email: [email protected]
Website: https://MillsKnowsBills.com
Instagram: https://instagram.com/@millsknowsbills
LinkedIn: https://www.linkedin.com/company/mills-knows-bills
Subscribe on YouTube for the latest from MKB @MillsKnowsBills
00:00 Introduction to Mills Knows Bills
00:53 Meet the Guests: Drew and Tyler
02:12 Nationwide Services and Common Tax Myths
02:55 Social Media Tax Advice: Myths and Realities
06:51 The Importance of Tax Planning
13:52 Understanding Tax Strategies vs. Accounting
17:29 Common Tax Questions and Misconceptions
22:49 Debunking the Myth: Is It Too Late to Establish an LLC?
23:19 S Corp vs. Other Business Structures: What You Need to Know
24:18 Common Misconceptions About Business Taxes
24:59 The Importance of Consistent Communication with Your CPA
26:05 Why Business Owners Hesitate to Reach Out to Their Accountants
28:14 Favorite Industries and Clients: A CPA's Perspective
31:13 Building Strong Client Relationships
36:11 Handling Tax Questions and Common Pitfalls
37:53 Biggest Challenges and Success Stories
41:52 Innovative Tools and Team Collaboration
43:30 Final Thoughts and Contact Information
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