Lifting the Veil on Entrepreneurs’ Finances

We all know there are two things that are certain in life: death and taxes. I’m excited to have my accountant, Mario Lucibello, join me today to talk about saving on taxes and tax strategies specific for entrepreneurs and business owners. We also chatted about something I wasn’t expecting that really opened my eyes to how we view and think about our money.

Listen in as we dive into how to save on your taxes in many different circumstances, including some of the best ways to sell assets without losing your profit to taxes. You’ll learn why you might want to consider paying yourself more through your payroll, why having an accountant who understands your unique situation is the best way to save money, and the psychology behind how we think about our money. Mario has seen the finances of hundreds of entrepreneurs over the years, and he has a really interesting perspective on wealth and well-being that you won’t want to miss.

You’ll learn:

  • What Mario has learned about entrepreneurs from being an accountant. (5:15)
  • The best way to sell investments while also limiting your tax liability. (12:50)
  • Why it might make sense to pay yourself a little bit more on payroll. (18:25)
  • How the State and the IRS view your LLC differently. (23:00)
  • Why hiring your kids is a great tax—and life—strategy. (25:20)
  • The top plans owners should look at to give their employees a good retirement base. (32:20)
  • Some of the big ways you can save on your taxes. (36:45)

Subscribe: iTunes | Stitcher

(With your host Andrew Youderian of eCommerceFuel.com and Mario Lucibello from Greenhaus, Riordan & Co. LLP)


What Was Mentioned

Image credit to Steve Buissinne from Pixabay.

Andrew Youderian
Post by Andrew Youderian
Andrew is the founder of eCommerceFuel and has been building eCommerce businesses ever since gleefully leaving the corporate world in 2008.  Join him and 1,000+ vetted 7- and 8-figure store owners inside the eCommerceFuel Community.

Double Your eCommerce
Business in the Next Year alt alt

Learn from the thousands of case studies, stories, and lessons our private community members have shared, plus what we’ve learned in 12+ years of studying eCommerce stores
reddit mail