On today’s episode, I share a peek behind the curtain of the accounting world with a personal confession that might surprise you. While tax deductions are a crucial piece of the puzzle for business owners, I discuss why they don't bring me joy and why I believe there's a bigger financial picture to focus on. Let’s unpack the scarcity mindset that plagues many entrepreneurs, who prioritize minimizing taxes over making profitable business choices. I advocate for a strategy that emphasizes profitability and sustainability, underscoring the significance of making decisions that benefit the long-term health of the business rather than fixating on immediate tax savings. 

In this episode, we cover: 

• The three reasons why I don’t enjoy talking about tax deductions 
• An alternative outlook on tax deductions
• How a scarcity mindset ensnares business owners
• The trap of chasing tax code tricks
• Why strategic decisions build a profitable & sustainable future

 

Resources & Links:

• Join our weekly newsletter, Millionaire Mindset
• Learn more about our Services

 

Connect with Sheila:

• Follow on Instagram @sheila.hansen.cpa
• Check out our website https://www.hansenllc.net/

 

[Disclaimer: Any opinions, recommendations, and tips offered on this podcast or other social media forms do not constitute individual tax or accounting advice. This content is designed to provide education and awareness of financial topics and responsibility for the benefit of the general public. Please consult a professional before implementing any of the suggestions made by Sheila or Sheila Hansen, LLC]

 

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Find the complete show notes here: https://hansenllc.net/confession-im-a-cpa-who-doesnt-enjoy-talking-about-tax-deductions-episode-3