391-A Few Useful Tax-Planning Techniques: Interview with Craig Cody, CPA, Co-Author of "Secrets of a Tax-Free Life: Surprising Write-Off Strategies Most Business Owners Miss"
Radical Personal Finance
Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP
4.2 • 1.9K Ratings
🗓️ 27 October 2016
⏱️ 36 minutes
🧾️ Download transcript
Summary
My guest today is Craig Cody, CPA, co-author of the book "Secrets of a Tax-Free Life: Surprising Write-Off Strategies Most Business Owners Miss."
We discuss:
- Paying your paying your kids in your business
- Renting your house out to your business
- Cost-segregation studies
- And more!
Enjoy!
Joshua
- Craig is offering a free copy of "Secrets of a Tax Free Life" to all listeners here: www.craigcodyandcompany.com/rpf
- Craig's company phone number is 516-869-4051
- Support RPF on Patreon: www.radicalpersonalfinance.com/patron
- Schedule a consulting phone call with me: www.radicalpersonalfinance.com/phonecall
Transcript
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| 0:00.0 | Welcome to Radical Personal Finance, the show dedicated to providing you with the knowledge, |
| 0:05.2 | skills, insight and encouragement you need to live a rich and meaningful life now while |
| 0:11.6 | building a plan for financial freedom in 10 years or less. |
| 0:14.4 | One of the core aspects of good financial planning is to lower expenses, |
| 0:18.5 | and for most of us, taxes comprise perhaps the largest percentage of our budget. |
| 0:24.0 | Now of course there are many forms of taxes, but when taking an aggregate, |
| 0:29.4 | add up to a tremendous amount of money. |
| 0:31.0 | So today I've invited Craig Cody who's a tax planner on the show. |
| 0:34.5 | Craig, welcome to Radical Personal Finance. |
| 0:37.0 | Thank you very much for having me. |
| 0:38.7 | So I'm excited to have you on and I want to talk with you. |
| 0:42.2 | I love to talk with accountants and tax planners |
| 0:44.4 | about specific ideas and strategies for how my listeners can reduce their taxes. |
| 0:50.7 | Now obviously this is a difficult subject to to capture in |
| 0:54.6 | something like an interview given that there are so many types of taxes and there's |
| 0:58.5 | so many plans and so many strategies depending on a specific situation but what I I want to focus on is running through some ideas and some strategy of how my listeners can begin to approach the subject. But in order to engage their interest, you've contributed to a book called |
| 1:14.2 | Secrets of a Tax Free Life, Surprising Write-Off Strategies Most Business Owners |
| 1:19.0 | Miss, which is quite the title, and your chapter contribution is called this. |
| 1:24.4 | How to deduct your kids soccer cleats? |
| 1:27.3 | Hint, give them a seat at the boardroom table. |
| 1:31.1 | So here's one I want to know. |
| 1:32.2 | How do I deduct my kids soccer cleats? |
... |
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