In this episode of the Well-Oiled Operations™ podcast, Stacy and Joel delve into the critical yet often overlooked area of business management: year-round financial planning and tax strategy. Navigating the complexities of tax compliance and business financials doesn’t have to be intimidating. 

Stacy and Joel discuss the distinctions between CPAs, bookkeepers, tax strategists, and other financial professionals, emphasizing the need for regular, proactive consultations rather than reactive, end-of-year meetings. They also shed light on common mistakes business owners make, such as neglecting to track essential expenses or misunderstanding entity structures, and how these errors can significantly impact financial health. 


Also in this episode:

  • Meeting with your CPA regularly rather than only during tax season helps in strategic financial planning.
  • Differentiate between a CPA, bookkeeper, and tax strategist to utilize their expertise effectively.
  • Regularly updating and understanding your profit and loss statements is vital for making informed business decisions.


Guest Bio:

Joel Jensen is a renowned expert in financial and tax strategy, currently with Prime Corporate Services. With over a decade of experience at Ernst and Young, Joel has developed a deep understanding of business accounting, tax strategies, and financial planning. At Prime, he specializes in assisting business owners with tax compliance, strategic planning, wills, estates, and corporate credit. Joel is dedicated to empowering business owners with the knowledge and tools to maximize profit margins and efficiently manage their financial obligations.


Learn More About Prime Corporate Services: 


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About Stacy Tuschl And Well Oiled Operations™:

As a best selling author, speaker, and successful business owner, I empower small business owners to thrive. Through my Well-Oiled Operations™ approach, I assist entrepreneurs in attracting customers, increasing profits, and finding personal happiness. My proven process helps students overcome challenges, reach their full potential, and establish self-sustaining ventures—all while maintaining a balanced life. You shouldn’t sacrifice your well-being for your business; your business should enhance your life. I understand the worries and doubts you face, but trust me, your dreams can be realized. Let me guide you in transforming your local business into your ultimate vision, fostering tranquility, prosperity, and fulfillment.

The Well-Oiled Operations™ Podcast With Stacy Tuschl

This Podcast Is Produced, Engineered & Edited By: Simplified Impact