Entrepreneurial Blueprint: Small Business Tax and CFO Talk

A full-length Q&A for business owners. Dr. Jake Latimer and Rick Yancy, CPA, cover BOI reporting, underpayment penalties, how content creators are taxed, tax brackets, what draws IRS scrutiny, fringe benefits, gambling, ERC repayment and NFTs.

In this episode:

• BOI filing requirements and penalties, as discussed at the time
• How underpayment penalties work
• How content creators are taxed
• What triggers IRS scrutiny and audits
• The ERC voluntary disclosure program, as discussed
• How NFT gas fees are treated

Note: BOI reporting rules have changed since this episode was recorded. Talk to an advisor about current requirements.

Rick Yancy, CPA, was a partner at the firm when this episode was recorded.

Let's Build your Blueprint Together...
Blueprint Advisors is a tax, accounting and CFO advisory firm in The Woodlands, TX, serving business owners across Houston and beyond. Advisory comes first: at least four planning calls a year, a custom blueprint for every client, audit protection on the returns we prepare through TaxProtectionPlus, and real CFO work led by Dr. Jake Latimer.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax or legal advice for your situation. Tax rules and figures are as discussed at the time of recording and may have changed since.

The 2024 election tax debate, played for laughs. Real tax proposals from the 2024 campaign, discussed in a comedic format: taxing unrealized gains, net investment income tax changes, the SALT cap and extending the 2017 tax cuts.

In this episode:

• Tax proposals discussed in the 2024 campaign
• The unrealized capital gains tax debate
• SALT cap and TCJA extension discussion

Parody: characters and impressions are for entertainment only; the tax information is educational and reflects proposals as described during the 2024 campaign.

Let's Build your Blueprint Together...
Blueprint Advisors is a tax, accounting and CFO advisory firm in The Woodlands, TX, serving business owners across Houston and beyond. Advisory comes first: at least four planning calls a year, a custom blueprint for every client, audit protection on the returns we prepare through TaxProtectionPlus, and real CFO work led by Dr. Jake Latimer.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax or legal advice for your situation. Tax rules and figures are as discussed at the time of recording and may have changed since.

Welcome to The Entrepreneurial Blueprint — the go-to podcast for business owners who are building with intention, leading with clarity, and scaling with strategy.

Hosted by the experts at L&Y Business and Tax Advisors, this show dives deep into the mindset, mechanics, and money behind entrepreneurship. Each episode offers real-world insights, actionable tips, and transparent conversations about what it really takes to succeed in business—from structure and systems to tax strategies and scaling secrets.

Whether you're launching your first venture or leveling up your legacy, this podcast gives you the blueprint you didn’t know you needed.

🎙️ New episodes weekly
📊 Business. Money. Mindset. Strategy.
🔗 Learn more at lytaxadvisors.com

Join Dr. Jake Latimer, a seasoned expert with a Doctorate in Business Finance, an MS in Taxation, and an MBA in Finance & Accounting, alongside Blueprint Advisors partner Rick Yancy, CPA, as they dive into progressive business strategies, entrepreneurship, and essential tax insights.In this special edition of the Entrepreneurial Blueprint Podcast, Jake and Rick break down the much-talked-about One Big Beautiful Bill—a sweeping piece of legislation that could significantly impact your wallet, your business, and your tax strategy.They cut through the noise and tackle what’s real and what’s just “Fake News” across social media, including:✅ Will Social Security now be tax-free?✅ Has the SALT cap finally been lifted?✅ Are corporate tax rates dropping to 15%?✅ What’s the truth about Roth conversions, EV credits, and IRS enforcement?This episode is packed with actionable insights, myth-busting clarity, and planning tips to help entrepreneurs, investors, and business owners navigate what’s next.

From a small family business to a national manufacturing company. Crystal Jones of JRC Industries talks with Dr. Jake Latimer about resilience, leading through change, and why a strong team matters more than the title on the door.

In this episode:

• Leading a family business through change
• Why resilience matters in manufacturing
• The value of a strong team
• Why the title on the door matters less than the people

Let's Build your Blueprint Together...
Blueprint Advisors helps business owners in The Woodlands, Houston and beyond with year-round tax planning, tax preparation and fractional CFO advisory, with at least four planning calls a year and a custom blueprint for every client.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax, legal or medical advice for your situation.

Two partners, one wealth firm. Dean Elliott and Frank Ross of Pentangle Wealth talk with Dr. Jake Latimer about building a client base from zero, planning for wealth and legacy, and the trust and faith that hold a partnership together.

In this episode:

• Building a client base from zero
• Planning for wealth and legacy
• Why trust holds a partnership together
• Faith as a foundation in business

Let's Build your Blueprint Together...
Blueprint Advisors helps business owners in The Woodlands, Houston and beyond with year-round tax planning, tax preparation and fractional CFO advisory, with at least four planning calls a year and a custom blueprint for every client.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax, legal or medical advice for your situation.

Crystal Mathis of the Health and Wellness Alliance joins Dr. Jake Latimer to talk about leaving a career as an attorney to become an actress, building a nonprofit for wellness practitioners, and why faith and grit keep entrepreneurs going.

In this episode:

• Leaving law for acting
• Building a nonprofit for wellness practitioners
• Why faith and grit keep you going
• Showing up for yourself before you can show up for others

Let's Build your Blueprint Together...
Blueprint Advisors helps business owners in The Woodlands, Houston and beyond with year-round tax planning, tax preparation and fractional CFO advisory, with at least four planning calls a year and a custom blueprint for every client.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax, legal or medical advice for your situation.

What does it take to build a mental health practice that serves the whole person? Dr. Alyssa Webb-McCune of Natural Balance Counseling, LLC, talks with Dr. Jake Latimer about the will entrepreneurship takes, growing service lines, honest compassion, protecting counselors with caseload caps and risking your savings to start.

In this episode:

• Why new behaviors feel unnatural at first
• Growing service lines to meet client needs
• Protecting counselors with caseload caps
• Taking smart risks as a founder

Let's Build your Blueprint Together...
Blueprint Advisors helps business owners in The Woodlands, Houston and beyond with year-round tax planning, tax preparation and fractional CFO advisory, with at least four planning calls a year and a custom blueprint for every client.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax, legal or medical advice for your situation.

From a home office to her own wellness center. Dr. Tiffany Kristensen of Vibe Wellness talks with Dr. Jake Latimer about the struggles of entrepreneurship, holistic wellness services, why personalized care wins, never giving up, and a candid story about getting her books caught up.

In this episode:

• Why there are no days off as a founder
• How a wellness practice grows step by step
• Why personalized care beats cookie-cutter care
• Why you should keep trying

Let's Build your Blueprint Together...
Blueprint Advisors helps business owners in The Woodlands, Houston and beyond with year-round tax planning, tax preparation and fractional CFO advisory, with at least four planning calls a year and a custom blueprint for every client.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax, legal or medical advice for your situation.

How do you build a service business that keeps its crews for 18 years? Brad Hubbard of Sapphire Pools talks with Dr. Jake Latimer about starting with little capital, learning through bumps and bruises, customer feedback, pool technology and riding out uncertain markets.

In this episode:

• Starting with limited capital
• Why employee loyalty pays
• How customer feedback shapes a business
• Embracing the journey

Let's Build your Blueprint Together...
Blueprint Advisors helps business owners in The Woodlands, Houston and beyond with year-round tax planning, tax preparation and fractional CFO advisory, with at least four planning calls a year and a custom blueprint for every client.
Book a consultation: https://www.blueprintadvisorstx.com/contact/ | (281) 288-0909
Follow: Instagram @drjl_26 | X @JakeLatimer26 | YouTube & TikTok @blueprintadvisorstx

Educational only, not tax, legal or medical advice for your situation.