Taxes Aren't Scary—They’re Strategic with Gary Heldt, CPA
"You thought taxes couldn't be sexy or fun? Think again."
In this high-impact episode of The Creative Entrepreneur Podcast, hosts Dominick Domasky and Julie Lokun sit down with Gary Heldt, CPA, founder of Small Business Advisors and host of the Grow Your Business, Grow Your Wealth podcast.
If you are an entrepreneur who views tax season with the same dread as a root canal, this episode is your anesthesia. Gary pulls back the curtain on how savvy business own...
Taxes Aren't Scary—They’re Strategic with Gary Heldt, CPA
"You thought taxes couldn't be sexy or fun? Think again."
In this high-impact episode of The Creative Entrepreneur Podcast, hosts Dominick Domasky and Julie Lokun sit down with Gary Heldt, CPA, founder of Small Business Advisors and host of the Grow Your Business, Grow Your Wealth podcast.
If you are an entrepreneur who views tax season with the same dread as a root canal, this episode is your anesthesia. Gary pulls back the curtain on how savvy business owners stop reacting to the IRS and start using tax planning as a wealth-building engine. From red flags that trigger audits to the "hidden" benefits of hiring your kids or parents, this conversation is a masterclass in keeping more of what you earn.
️ In This Episode, We Discuss:
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Audit Red Flags: The #1 mistake entrepreneurs make (hint: it’s all about the documentation).
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The "Write-Off" Demystified: What actually counts as a business expense? Gary breaks down the "customary, ordinary, and necessary" rule.
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The Truth About Meals & Entertainment: What you can (and cannot) deduct in a post-COVID tax world.
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Lifestyle vs. Business: Can you write off that first-class flight or that new suit for your presentation? (Gary’s answer might surprise you).
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Back Taxes & IRS Anxiety: Why "moving to Mexico" isn't a strategy and how to proactively settle with the IRS.
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The Power of a "Tax Plan": Why a CPA should be a "forecaster of your future" rather than a "recorder of your history."
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Strategic Hiring: How to shift income to lower tax brackets by employing family members.
Key Takeaways for Entrepreneurs
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Stop Co-mingling: Separate your personal and business finances immediately to avoid audit nightmares.
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Proactive vs. Reactive: Most CPAs record history; a great CPA helps you write it.
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Documentation is King: If it isn't documented properly, it didn't happen in the eyes of the IRS.
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Build Your "Board": Ensure your CPA, attorney, and financial advisor are actually talking to each other to catch your blind spots.
Connect with Gary Heldt
Gary is currently accepting new clients and is a dedicated resource for small business owners looking to scale efficiently.
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Website: Small Business Advisors - Gary Heldt
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Podcast: Grow Your Business, Grow Your Wealth (Available on all major platforms)
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Phone: 410-721-6000
️ About the Hosts: Building a Lifestyle Brand
Dominick Domasky and Julie Lokun are the driving forces behind a suite of brands designed to empower the modern creative entrepreneur. From top-tier podcasting to immersive live events, they help visionaries turn their passion into a sustainable lifestyle.
Explore their ecosystem:
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Cre8tive Con: The ultimate conference for creators and entrepreneurs to network and scale.
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Cre8tive Amped: A media and strategy powerhouse helping brands find their voice.
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Creative Entrepreneur Pod: Your weekly dose of business grit and inspiration.
FAQ: Frequently Asked Questions
Who are Julie Lokun and Dominick Domasky? Julie and Dominick are authors, speakers, and media strategists who co-host The Creative Entrepreneur Podcast. They specialize in helping entrepreneurs build "lifestyle brands"—businesses that support the life you actually want to live, rather than consuming it.
What is the "Jules Rules" segment? A fan-favorite segment where Julie Lokun (the "Media Strategist Mom") breaks down complex world events or trends into digestible, actionable lists. In this episode, she explores infamous financial criminals to highlight the importance of tax compliance!
How can I work with the Cre8tive team? You can reach out through Cre8tive Amped for media strategy or attend their annual Cre8tive Con event to learn from industry leaders in person.
REACH OUT TO JULIE OR DOM- LET THEM KNOW WHAT YOU THINK!
dom@cre8tivecon.com
julie@cre8tivecon.com
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