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A Well-Designed Business® | Interior Design  Business Podcast

501: Power Talk Friday: Profit Planning and Tax Planning Tips for 6 and 7 Figure Firms

A Well-Designed Business® | Interior Design Business Podcast

LuAnn Nigara

Arts, Design, Business

4.9810 Ratings

🗓️ 17 January 2020

⏱️ 61 minutes

🧾️ Download transcript

Summary

Welcome to Power Talk Friday! Today, we have one of our early guests back on the show. Diane Gardener, known as The Tax Coach (Episode #54) is back with us to talk about the specific niche of seven-figure interior design firms. Although LuAnn has done a lot of shows about getting a design business off the ground, she realized that she's done way fewer shows about what to do when you are in the seven-figure bracket. And there are very specific challenges that come with this area. When moving into the seven-figure bracket, business owners frequently experience higher expenses, cash flow problems, and higher taxes. So be sure to listen in today even if you're still a #babydesigner because LuAnn fully intends for you to become a seven-figure interior designer someday. Diane Gardner is a Certified Tax Coach, a Quilly award recipient, and a best-selling author whose expert planning approach has saved her clients over three-million dollars in taxes. Her expertise lies in the area of tax planning. And her goal is to make sure that successful entrepreneurs across the United States are paying the least amount of income tax that they can legally pay. She aims to save taxes, one business at a time, through the use of pro-active tax planning. Diane has been featured on popular podcasts such as CEO Warrior, For the Love of Money, Listen Money Matters, Investing in The U.S, Cashflow Ninja, SharkPrenuer, Wealth Formula and Profit Boss. Tune in today, to learn about what you need in your seven-figure business to mitigate risk, increase your profits, and legally decrease your taxes. Show Highlights: Diane is a certified Profit First coach. Planning ahead to pay less tax when moving into the seven-figure tax bracket. Increased income often means increased expenses. Becoming an active partner with your CPA or Business Coach. The tax planning strategies that seven-figure businesses need to implement to keep more money A great way to incentivize your people and lessen your tax load. It takes a different set of skills to run a bigger business. How to increase your cash flow to leverage growth from multi-six-figures to seven-figures. Diane explains how a tax coach can be your ultimate advocate and partner in growth. Doing an entity analysis for your business. An amazing strategy for saving money by investing in your own insurance company. Other guests mentioned in this show: Michele Williams #180, #395  Peter Lang # 349, #464  Diane Gardner was on the show before in episode #54 Links: Diane's website: Tax Coach 4 You Diane's offer: Planning guide for the new tax law vs old tax law. Diane’s Facebook handles:       @taxcoach4you @AdeptBusinessServices

Transcript

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0:00.0

Are you looking to build an exceptional team? Our hiring toolkit bundle at Luannigara.com

0:06.6

forward slash store is your comprehensive source for success. Craft compelling job descriptions,

0:13.8

know the right interview questions to ask, and implement a thorough evaluation process so you

0:19.0

get the right person. These were developed in collaboration

0:22.0

with my cousin Eileen Hahn and based on her 40 years of experience in building exceptional

0:27.2

teams, plus my insights from 1,000 plus interviews, our toolkits are tested and proven. Whether you're

0:35.0

scaling from 1 to 3 or from three to ten or from ten to

0:38.5

twenty, the hiring toolkit bundle provides the guidance that you can use to plan your

0:44.5

hiring strategy effectively. Go to Luannigara.com forward slash store and invest in your success

0:51.7

by investing in the success of your team.

1:06.8

Welcome to a well-designed business.

1:09.1

My name is Luann Nigara, and I'm so glad you found this podcast.

1:12.6

Together with my husband Vince and our partner, Bill, we have grown our company Window Works from the ground up,

1:18.6

so I know and I understand the challenges you face in running your interior design business.

1:24.6

I also know that your talent alone isn't enough to ensure your success.

1:30.0

So on this podcast, we talk about strategies and practical steps to help you grow your business.

1:36.4

But make no mistake about it, we have our share of fun here too, mixed in with those aha

1:41.4

moments that I love so much. This isn't fluff.

1:44.6

Nobody has time for that.

1:46.3

Whether you are a new interior designer or a season designer, I am here to help you create

1:51.7

and to manage the kind of interior design firm that you dream of.

1:55.7

It's straight talk and it's action.

...

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