Positioning Yourself Well for a Tax Strategist with Grant Dougherty
Jun 06, 2023Grant Dougherty is a fellow tax professional and has a passion for education. I align closely with this as education is one of my passions as well and is part of the reason that I created this podcast. Grant also has an amazing social presence as his content is very relatable and easy to understand which I love.
Today, I’m picking his brain about the foundational financial elements that all business owners should have in their business. We also discussed the role that real estate can play in your investment portfolio and what some potential tax benefits are from real estate investing.
Tune in to hear some helpful tips to get your business in line, and you may even take away a few real estate investing rumors that Grant mentions in the episode.
The key takeaways from this episode are:
1. Foundational financial elements for business owners: Grant Dougherty, a tax professional with a passion for education, shares his insights on the key foundational elements that all business owners should have in their businesses. These elements are crucial for establishing a strong financial foundation and ensuring long-term success. Listeners can gain valuable tips and guidance on setting up their businesses for financial stability.
2. The role of real estate in investment portfolios: Grant and the host discuss the role that real estate can play in an investment portfolio. They explore the potential tax benefits of real estate investing and highlight the advantages it offers compared to other investment avenues. Listeners will gain insights into the compelling reasons for investing in real estate and how it can contribute to their overall financial strategy.
3. Tips for getting started in real estate investing: Grant provides advice for individuals who are interested in entering the real estate market. He shares valuable tips, insights, and potential pitfalls to be aware of when venturing into real estate investing. Listeners can benefit from Grant's expertise and gain a better understanding of how to begin their real estate investment journey.
What you’ll hear in this episode:
[2:25] Introduction to Grant
[5:07] What are some examples of key foundational elements that Grant looks for in a client to ensure a strong foundation?
[11:30] What is the cost of hiring the right financial help in your business?
[16:12] What are the compelling reasons people should invest in real estate?
[18:20] What are the advantages of rental income over wage income?
[22:17] What advice does Grant have for someone who's interested in getting started in real estate?
Related episodes:
How to Pay Yourself Based on Your Business Structure
What is a W-9 and Who Needs One?
Are GoFundMe Donations Deductible?
Resources:
Connect with Grant:
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.
