What Every Entrepreneur Should Know About Taxes and Growth

In this episode of "Business and Beyond's Feature Friday", we're joined by Ryan Otto—entrepreneur, podcast host, and owner of Accent Financial Services. Ryan helps business owners develop smarter tax strategies, maximize profitability, and scale their businesses with confidence.

Ryan is also the host of Unfinished Empires, an entrepreneurship podcast that explores leadership, business growth, and the real journey behind building something meaningful. As the creator of Tax Smithing, he simplifies complex tax concepts into practical, high-impact strategies that help entrepreneurs keep more of what they earn while making smarter financial decisions for long-term success.

If you're a business owner, entrepreneur, startup founder, or aspiring leader, this episode is packed with actionable insights on tax planning, sustainable business growth, leadership, and building a stronger financial foundation.

Whether you're looking for a creative business podcast, an entrepreneur podcast, or a business entrepreneurship podcast filled with real-world lessons, this conversation delivers valuable strategies you can apply immediately. If you're searching for entrepreneur podcast lessons, business success episodes, or a start business podcast that goes beyond surface-level advice, you're in the right place.

🔔 Subscribe to Business and Beyond for weekly conversations with entrepreneurs, business leaders, attorneys, and industry experts who share practical insights to help you build, grow, and protect your business.

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Transcript

SPEAKER_00 0:01

Hello everyone and welcome to another episode of Business and Beyond's Feature Friday with Tania Bardellini. I am so excited. As usual, today I have Ryan Otto, who is the owner of Absent Financial Services, where he helps entrepreneurs and business owners build smarter tax strategies and scale with confidence. Who does not want to have smarter tax strategies, right? Uncle Sam gets all the money that he deserves, but we should not pay any more, right? Or less than what is actually owed. So this is why I'm excited today. He is the host of Unfinished Empires, a podcast focused on growth, leadership, and the realities of building something meaningful. As the creator of tax smithing, Ryan is known for turning complex tax concepts into practical, high-impact strategies that empower clients to keep more of what they earn and reinvest in the future. And don't we all want to do that? So thank you for being here, Ryan.

SPEAKER_01 1:18

Oh, it is my pleasure. Thank you so much for having me today.

SPEAKER_00 1:21

Yes, I'm really excited about talking to you and um what your tax strategies or maybe giving some pointers to people after we talk about the actual business, right? But before we get into that, can you tell me a little bit about really what it is that you do, how you got into this industry and why?

SPEAKER_01 1:48

Yeah. So I I've been in accounting for um 26 years now. Uh it's it's been a little while, come got into it completely by accident. Uh I was going to school to, I was doing biochemistry at the time, and I just needed a side job. And uh accounting position opened up. I was like, hey, I'm pretty good at math. And man, one thing led to another. And just over the years, I took on more and more roles in accounting departments. And I think it was three years into my career, I was already running an accounting department. And it's it's just it's kind of gone since then. And uh a little while back, I was looking for some an investment company, and uh I got some good advice from a friend just before I bought a nail salon. And they said, Yeah, if you don't know how to do nails and you don't know how to speak Vietnamese in this case, like maybe you shouldn't do that. I said, Okay, so I should do, I should buy a business that I know about then. That's that's probably good advice. And um, yeah, and I I bought Accent, the guy who had it before and built it. Uh, he he uh he passed away at the young age of 96. Wow. And was still enjoying this and had a great company, and so I I bought it and continued to do all the things that I have learned over decades now. Um, but now it's all mine.

SPEAKER_00 3:31

That's fantastic. So is this the first business that you have owned?

SPEAKER_01 3:38

Oh, definitely not. No, I've had um, you know, I I started working with my dad doing invoicing when I was like 14 years old. Uh my dad was a serial entrepreneur. Uh we've we did a couple of different things together, him and I. I've had a consulting company before. I've had a um I did task force uh labor for hotels for a little while. Uh I have a bunch of things.

SPEAKER_00 4:06

So you're an entrepreneur?

SPEAKER_01 4:09

I yeah, I can't stop myself. I think right now I have seven different businesses.

SPEAKER_00 4:14

But nice. So did you start all of them except for this one? Did you buy some, start some?

SPEAKER_01 4:23

I mean uh the rest I have all started. So this one was unique in in that I I bought what somebody else had already started to grow and and do. And it was it's definitely a different kind of experience than building it from scratch, uh, in good ways and bad ways.

SPEAKER_00 4:47

Yes. So this is why this is another reason why I'm excited today, because most people think, okay, let me just start my own business. I'm really good at whatever it is that I do. I'm tired of making money for my boss and not having any freedom. So I'm just gonna start my own business. But I want everybody to understand that there are other options, just like Ryan here. You can buy an established business and continue to grow it and run it and just make it your own. Um, so I'm really interested in your perspective and what you have um had, you know, what experiences you have had with buying and purchasing an existing business. But before we do that, so you're a tax strategist, not just a CPA.

SPEAKER_01 5:41

Yeah. Well, I'm actually I'm not a CPA at all. I'm a certified tax advisor.

unknown 5:47

Okay.

SPEAKER_01 5:48

Um, so it's it's my focus is on building strategies for people.

SPEAKER_00 5:54

That okay, so where do you see your industry going and what makes you different?

SPEAKER_01 6:03

Yeah, well, so interestingly, the the tax and accounting industry as a whole, um over the last several years has been in decline in the number of people wanting to be in the industry at all. Uh, and the number of people who have retired from the industry has been a lot. Uh, so I I think it was like a three-year period, we lost something like 600,000 people out of the industry. Wow. Uh, so it it it hasn't been it's in the decline. Uh number one, there's not that many people that want to get into it these days. Number two, a lot of the people getting into it, a lot of the the smaller, medium-sized firms have been getting bought out by private equity. And, you know, love them or hate them, there's certain ways that that they do things. And you know, talking to colleagues and seeing, you know, how how people feel about some of that stuff, uh, there's not a lot of good feelings about it. So there's people that leave the industry because of that as well. So then you take all of that and you add on the fact that AI can now, you know, uh almost all of them can go past the CPA exam now. Uh, and you've got all these things that will just do all of this work for you. I don't know. It's a it almost seems like a tough industry to be in, but then I also know that we need humans involved in it so much. You know, the the people that that come in here looking for help, they're not coming in to talk to a robot. They're like, I I I say sometimes when you get to the point that you have to come in and say, hey, I've got this IRS letter, or I know I haven't done my taxes for a number of years, and I need to start doing some of this stuff, they're they're coming in in kind of a vulnerable position. And you need people for that, right? And and so I don't know. I have like such mixed feelings about all of it because yeah, a there's tons of stuff that AI can do, and there's tons of people leaving the industry. But I also feel like for humans who know how to speak this language and make people feel okay about their situations, I I don't know. I think there's room for the right people to get involved in it still.

SPEAKER_00 8:44

You know, I have to say I love AI. I think it is absolutely amazing the leaps and bounds and technology that we're doing. But I also like you feel like humans always have a place, right? I mean, even without AI, any kind of information that you want, you can find online. Right. Information is everywhere. Um, and so it's not a lack of information, it's a lack of knowledge on how to actually apply it. Right. I look at AI as like an assistant. It's the first step instead of taking 10 hours doing research and trying to put it together to try to formulate some kind of strategy or something. You can go and say, hey, Chat GPT, hey, Google, you know, Gemini, whatever, Claude, any kind of AI, and it'll spit it out for you because it's just gathering the information for you.

SPEAKER_01 9:52

Yep.

SPEAKER_00 9:53

And then as a human being, you need to read it, vet it, see what else you need to dive deeper into, what makes sense, what might not quite make sense, right? At the end of the day, we're all human beings and we can talk to each other a lot better and differently than a robot can talk to us. Um, yeah, you know, uh, so there's a lot to say about feelings. We are made with feelings and brains, right? Like well, right.

SPEAKER_01 10:29

And and being able to, you know, you sit down with a person and you can see how they're feeling. And if you say something and they're and they make a funny face, you're like, oh, okay, do I need to stop, like talk a little bit more about that? Like we can do that as people, and you know, I maybe AI will be there someday soon, but uh not for right now, and I just you know, definitely not right now, yeah. But like so much of what this business is, like there's the number side of things, but there's also the people side of things, and uh that's it's really important.

SPEAKER_00 11:13

It is, and you know, I would think, especially with your industry, you know, most people don't know what's out there, what's available, what they need to ask, what part of their life actually matters to tax strategy.

SPEAKER_01 11:34

Yeah, right.

SPEAKER_00 11:35

Like most people don't know that they can hire all of it to see that's the thing. And so even with AI, I can go and say, hey, give me a tax strategy. This is you know who I am and what I do, but it doesn't know to ask me questions.

SPEAKER_01 11:54

Right.

SPEAKER_00 11:55

Where someone like you would, because we're building a relationship, you're trying to figure out who I am, how you can help me best holistically, not just my question, right?

SPEAKER_01 12:08

Yeah, yep. That's I you know when we sit down and and talk to clients about stuff, you know, I I ask about, you know, what's your what's your medical insurance and how old are your kids and what do they like to do? And uh, you know, what what's your retirement planning? And like the the scope of what we look at is very broad, because any of those things might come up in the strategy. Like, hey, so your your insurance is this. Well, did you know that you know, next year when you sign up for insurance, sign up for a plan where you can get an HSA because there's a whole different thing that you can do with that. Or, you know, your kid is 10 years old and you've got a business. Like, are you paying your kid? Because it's pretty cool strategy to pay your kid, and you know, lots of other benefits that go along with that. But yeah, if you're if you just like here's my tax return, what can I do? I don't know, there's only so many things that computer is going to spit out, right?

SPEAKER_00 13:09

The exactly, exactly. So that's wonderful that we're talking about this. Um, because I I do love AI, right? I really do think it makes things so much easier. And I am not worried about it getting rid of humans because of the fact that there's so much more that is needed from us that AI cannot deliver, right? Um, but it is a great assistant. Yeah, you know, so I love that you're and are you using it in your business?

SPEAKER_01 13:44

Yeah. So I what like a year and a half ago when Chad GPT was, you know, the king of all the AI stuff. Um, yeah, I I trained the whole team on how to use it. I I put the desktop version on everybody's computer. I built a whole bunch of custom GPTs. So like I I have, you know, and they're all like funny names. So I have Ingrid the IRS person, and so you can feed her an IRS letter and she'll tell you, you know, in a in a specified format, this is everything that what this means and how to explain it to somebody and do all these things. So I I started with ChatGPT like a year and a half ago, and the last couple months, I've been moving to Claude and Claude co-work and Claude Code has been uh a whole different world for me of what this can do now. I'm I'm I'm like this close to introducing it to the team, but right now it's it's mine, and I have a lot of fun with my me and my BFF, Claude.

SPEAKER_00 14:48

I love it. So we have been uh talking about some actually obstacles, right, and opportunities in business and how we're using it, right?

SPEAKER_01 15:04

Yeah, AI is absolutely a very, very powerful multiplier for people wanting to have their own business and do lots and lots of things. And I it is so cool that you can talk to a computer and say, here is my vision of what I want the company to be. I don't know anything about marketing. How would I make a marketing strategy to get to where I want to be? And it will tell you, and it will tell you all the things that you need to do over the next 12 months to get to that point. The and and having those tools is it really is great for people. The only thing that I see as kind of a downside to it is you don't know if it's right or not. And so having like you have to have other education and sources that goes along with trying to learn everything from this, because I I know it it's a lot less than it used to be, but it'll just make stuff up sometimes. And if you don't know, you don't know that it just made it up. So, you know, as as wonderful a tool as it is, right? And sit down with it, build your business plan, build your marketing agents, do all of that stuff. But as an entrepreneur, you gotta learn about those things for real, too.

SPEAKER_00 16:47

Yeah, that's tough. It is, it is because we automatically assume, oh, it's AI, it's gonna put everything correctly. However, you know, garbage in, garbage out, right? There's all kinds of misinformation on the internet where AI goes and gets its information. So we have to vet it, right? We have to look at it and do more research and figure out what it's doing. Um, so that's one thing. I would like to dive a little bit into you buying an already established business. I mean, uh, you know, you bought it a while ago, you've been running it successfully, and it's been growing, which is great. I'm sure you've had some obstacles when, or you still might have some obstacles that maybe you can share with the audience. And more importantly, how have you overcome those obstacles?

SPEAKER_01 17:52

Yeah, well, so so one of the key things I would say for for me, it it wasn't buying systems, it wasn't buying a building, it wasn't uh it wasn't buying a product, it was more or less buying clients. And and there was a reputation that went along with the company, and there was a bunch of clients, and there was there was a bunch of team members. And in taking all of that over, right, on paper, it looks a certain way. And it was uh it was a cash-flowing business. So rather than starting from scratch and saying, okay, I I'm gonna go advertise and maybe try to pick up you know five new tax clients this week. Well, instead of that, I I bought a thousand clients, which was already running and it was already cash flowing. And so, like, okay, that's that's a great idea. I don't have to spend all of the effort that it would take to make all of this from scratch. But that's yes, there was a bunch of stuff that did have to be made from scratch, and there was also things that I had to undo in order to try to move the company forward. So, for instance, the the entire operation, it was all paper-based. So, so you imagine it came with five years of tax files for a thousand clients. I we had to get a building that was big enough just to hold all of the file cabinets. That wasn't in my that wasn't on my radar, right? I when I when I got it, I'm like, great, I'm gonna I I'm a I'm a techie kind of guy, I'm gonna make it all digital, I'm gonna be able to just take this and make the whole process electronic. And and I've done that, but it did take me a couple of years to work through that process. Not only because the process didn't exist before, but the employees didn't know how to deal with it, and the clients didn't know how to deal with it. So it's taken us years to get everybody comfortable with not having to walk into the office and drop off their paperwork. So so that was that was a whole thing. Um learning how to do sales and marketing strategy was a whole thing too, because they they never had that before. It was uh it was a paper-based business. Like this company's been around for 40 years, uh, but it was all referrals. And I said, okay, well, I I would like it to be more than just referrals. So I said, okay, well, so the first thing I'm gonna do is um I hired a girl to do social media stuff, and I said, just start putting content out there so that it looks like we're alive. I don't know what the content was, it never grew into anything. I mean, we had hundreds of posts on Facebook, but nobody looked at it because we didn't have any followers, because there wasn't a strategy to build that because I was trying to build this.

SPEAKER_00 21:35

Okay, I'm gonna stop you right there.

SPEAKER_01 21:37

It's a lot, it's a lot.

SPEAKER_00 21:39

It is, it is so whether you buy an existing business or you start your own business, there are same similar obstacles, right? One is how do you make it your own, which is you digitized everything and you changed it from a paper based business. To a digital-based business, which is more efficient, right? Less costly, more profitable. Um, and you did that, but it's taken you a few years, and that's okay, right? It is because you're doing all kinds of other things at the same time. The other thing I wanted to really bring to light again is the fact that you said you hired someone, they posted, you had thousands of posts, and it didn't go anywhere. A lot of people, including myself, okay, been there, done that, right? And I'm sure a lot of listeners are going, oh my god, that's what is going on right now. Right. And the thing that you said that is so important is the fact that the reason was there was no strategy to get clients. It was just let's post on social media and be present, let people be aware of us. And that does not necessarily get you clients.

SPEAKER_01 23:12

Yeah.

SPEAKER_00 23:13

So there has to be a strategy behind your marketing. There has to be a strategy behind your sales for your business and what you're doing. Um, more especially with social media. So please continue. You figured out, okay, there had to be a strategy. What did you do?

SPEAKER_01 23:34

Yeah. Well, I mean, still working on it, uh, but we've definitely changed how we're putting stuff out. Uh, but you know, for so for instance, I'm here. Uh, because for for this year, our strategy is talking to humans and and making content and stuff that people will actually engage in rather than just a little thing that you know you you keep you scroll past it, you're like, oh, that was that was nice. Because that's where people's brains are right now is you just keep scrolling. And it takes something interesting to get people to stop scrolling. So, you know, so for us, that's what we're doing now, is is exactly what we're trying to do differently than just posting stuff on social media. And the the industry that we're in, if you just post a bunch of stuff about, hey, have you checked your PL? Um, no, they haven't checked their PL and they're not gonna. And why are you talking about it? And nobody's gonna click on that. But if you say, hey, listen, I've got a great way for you to pay your kids, save money on taxes, and teach them how to financial acumen, right? Click on this thing, and you can watch a little video about how to do that, and then go download this thing. That'll help you do that. That's a it's a whole different kind of strategy than just tossing stuff out and and hoping somebody clicks on something. So so for us, that's like I I I always tell I told my team here just all the time, I can fill a book with all of the things that I didn't know that I didn't know. And and that was that was among them is okay, well, I didn't know that I needed some kind of strategy. I just thought people put stuff on social media and other people clicked on it.

SPEAKER_00 25:42

Good. See, and I love that you just gave us this example because it shows that, okay, first off, I think that checking your PL on a monthly basis is imperative to running a business.

SPEAKER_01 26:00

It's a must. It's a must.

SPEAKER_00 26:02

It is a must, but people don't like numbers. People are not a dork or a geek like I am. So, you know, they're not gonna look at it, which is why they need a tax strategist or someone there to be able to look at it and give them their analysis of where the company is, what it's doing, where it's going, right? Because that's what the PL shows you. Um, but the other point that you made was to post things that get people engaged and not necessarily just, hey, look at your PL. Yeah, people know what they have to do, they just don't want to do it, you know. Telling them what they know they have to do is not gonna get any kind of engagement. Yeah. But looking at what they are interested in, what solutions they might have, what opportunities they might have, and putting that in the forefront, I think is gonna be a much better strategy because you're gonna have more engagement, right? What you said was people are gonna keep scrolling until they see something that they are interested in. Right? You know, anybody who has a business in kids, I would assume would be interested in oh, how do I pay my kid and teach them financial acumen and save on my taxes all at the same time? What?

SPEAKER_01 27:35

Yeah, yes, yeah. I you know, I and I will say too, um being of the entrepreneurial mindset, I I frequently have this thing in my brain where I need to learn all of the things to do all of the things because it's me and I gotta do everything. And I'm pretty sure early on, somebody told like I I had a a PR girl who was helping me with some stuff early on, and I'm pretty sure she told me that you should do stuff that's gonna be engaging years ago, right? But it I wasn't in the right place to understand this is what engaging means, and this is what to go do about it. And you know, and and I think there's experts out there for almost everything. Sometimes you gotta find the one, and you gotta understand that okay, this is not a thing that I can learn all of this stuff and be able to run with it. Number one, because it's not my strength, like sales is not my strength, that's not a thing I do. Um sitting down and and building you know crazy Excel spreadsheets, that is my my version of art, right? Um, I can do that, but but there's a bunch of things that I I can't do, it's not my thing. And over the last few years, I have learned enough that I know the experts that I now need to find.

SPEAKER_00 29:29

And I love that. I love that strengthen your strengths and delegate your weaknesses, right? Because we all have our zone of genius, and you give me an Excel spreadsheet and tell me to make this crazy thing. No, thank you. I could do, you know, a little bit of budget projections, I could make sure that I'm budgeting or follow my PLs, but tax strategies and putting in all these crazy things, that's not me. And that's why we have people like you, right? Um, but that's where I think we are all conditioned to strengthen our weaknesses, right? When you're in school and you get A's on everything and a B or a C in one subject, it's like, oh, you have to work on that subject to get your grades up. Right. Instead of, oh, great, you you know, you're great at math or you're great at literature, let's continue that path. It's always, no, no, no. Let's concentrate on what you're weak at and make it better. And so I think as we go into business, our focus is how do we make ourselves better in everything, rather than how do we just strengthen what we're really good at, be good at it, and let everybody else who's good at the other things do their thing so we can all grow together, right? And make a better product. So I love that you said that. Um, and that you practice that.

SPEAKER_01 31:06

So now, now I do. I didn't know it's I and there's there, I'm sure there's still things that I'm doing now that I ought to find somebody else to do too. And you know, and maybe that's as you grow and you you learn more things that you didn't know that you didn't know, um you know, I like 10 years down the road, what is it supposed to look like for me? And 10 years down the road, do I want to be the guy doing the tax strategies, or do I want to be the guy who has a company with 20 people that do tax strategies? I think I'd rather have have that, but in order to do that, it's gonna take a lot more people that know a lot of things that I don't know. So I it's all growing, right?

SPEAKER_00 32:03

It is, it is, and I love that you have that because without a growth mindset and without understanding that there are so many things you don't know, right? You're never gonna be able to get to that other level because if you're just comfortable and you know what you know and you're just gonna continue to do it, you're just gonna continue to get the same results, right? That's just math and science, you know. So I love that you're doing that now. I'm gonna like shift gears a little bit and talk about what is working in your business and how did you get that to work?

SPEAKER_01 32:43

Well, so I will say so. We talked about AI. There's some parts of AI that are working very well. Nice. Uh so we have um a little while back, I I was watching uh, I think I was watching a podcast about something, and the guy was talking about if you imagine right now, if Disney started an accounting firm, what would it look like? And and it and it hit me weird because I'm a I'm a Disney guy, and I'd done a lot of Disney case studies, but uh my wife and I are also both Disney nerds. And and I I stopped for a minute and I was like, that's a really interesting way of looking at it. How do we take a client experience and elevate it to the point of Disney magic? And and so I I made an AI. I I called him Walt because I'm you know funny like that. Um and anytime we have a customer interaction, we're like, I don't know, I feel like I can I can say this better, or we can do something else, we can feed it to Walt, and he will give us ideas about either how to rewrite it in a in a Disney kind of way or how to change the experience. Uh and and do some stuff like that by telling our our AI friend Walt, here's what the situation is. And so that's that's kind of cool, I think. I and I think it's working. Um we have also, I mean, some of the workflows that we have put in place are great. And I'll and I'll tell you one that's probably my favorite that we started right about a year ago is Go High Level.

SPEAKER_00 34:53

Yes.

SPEAKER_01 34:54

And and building and we have a practice management system that manages all the files and the work and everything, but go high level being able to have somebody, you know, go to your web page, click a thing, and it starts them down an automation path that not only helps the clients, but it also helps us internally, where it'll say, Hey, this person sent you a thing, you know, three days ago. Now's a good time to call them. It's so useful.

SPEAKER_00 35:30

Right? I love CRMs, I love management softwares, I love tracking.

SPEAKER_01 35:38

Right?

SPEAKER_00 35:39

Yeah. So anything that tracks and gives you insight or gives you, hey, you know, here's a reminder, whatnot, it just keeps your workflows going much more nicely. And you don't have to think about everything so much. Right. So I love that you you're using that and it's working. Um, I will say I love the fact that you're disnifying, for lack of a better word, um, you know, tax strategies, you know, financial services. And nobody would ever think it's to most people, numbers are so boring and they're so complicated. And, you know, um, so making it more fun and concentrating on your clients' experience to make sure that they are having a good experience. Um, I think is imperative to a business, especially in today's day and age.

SPEAKER_01 36:43

Yeah. Right. I mean, it's it's all that differentiates you from anybody else, is how do you how do you treat clients in a way that they're gonna appreciate and and remember and tell people about, right? Because I I don't see anybody going around being like, oh yeah, my H and R block guy was super amazing. Like, no, nobody, nobody does that. But I we have people that go around and tell their friends, like, oh my gosh, you have to go meet with this guy because he's gonna like blow your mind on all of the things that you can do. That's awesome. It is, it's it's awesome, it really is.

SPEAKER_00 37:29

So, how can and okay, who do you work with, and how can people get a hold of you?

SPEAKER_01 37:38

So I we work with lots and lots of people. We have the company itself grew up on a farm, and we've got a good collection of clients that are farmers. Uh, we also have people that own, you know, 18 businesses, uh, and and everything in between.

SPEAKER_00 37:56

Okay.

SPEAKER_01 37:57

I my favorite people to work with is small business owners who are just kind of getting started or just starting to see some success. And they're like, okay, I've I've now I've made some money, I've proven to myself that I can do this thing. I need to learn about what comes next and and take it to a different level. And and I I love working with people like that because everybody is already at the point that they're open-minded about what can I do differently? And what can how can I make this really work for my family the way that I was envisioning it when I sat down and said I should start a company? And and that's that's just that's the most fun for me.

SPEAKER_00 38:54

Oh, I love it. Making uh difference in generations, not just one person at a time or one business at a time. Um, so how can people get a hold of you?

SPEAKER_01 39:07

Yeah, so um our website is accentfinance.net. Uh I I have put way too much time and effort into the website, but everything is on there, including ways to directly make appointments with me or with the team or sign up for stuff or learn about things. They're just tons and tons of stuff on there. Um, or shoot me an email. It's Ryan at accentfinance.net. Uh I I meet with every new client that we take on because I like to understand where people are coming from and make sure we're a good fit and we're gonna be able to help people with things. Um, and you know, and then sometimes there's people that were not a good fit, you know. I I've got all of these different strategies, and that's not what you're interested in. You're like, no, I want to play it safe and not try to do any of those things. Like, okay, well, that that's fine too, you know. Um, but yeah, I I'm on the interwebs. Uh my latest thing, and uh, I'm if I am known for nothing else, uh, I'm gonna be the guy that teaches people how to pay their kids right. So I I have a special guide for people, and I'll I'll I'll share it with with you too to share with everybody. But paymykids.taxmithing.com. And there's a guide on exactly how to do it, and it walks you through the steps because everybody always says here's a strategy, you can pay your kids, but then they don't tell you mechanically, or you know, hey, here's how it actually works. Go do this thing, go do this thing, go do this thing. Uh, so I so I made one. Paymykids.taxmathing.com.

SPEAKER_00 41:08

I love it. And if you miss that, don't worry, it'll be in the chat and at the end of the podcast. Um, Ryan, thank you so much for being here today for this amazing handout, you know, um, on how to pay your kids properly so you don't get in trouble. Um, and before I let you go, if you could give business owners one piece of advice for them to be successful, what would that be?

SPEAKER_01 41:42

Don't be afraid of failing the first three times.

SPEAKER_00 41:48

Okay. So don't be afraid of failing the first three times. That's the magic number.

SPEAKER_01 41:54

That's the magic number. As long as as long as you learn, don't be afraid of failing.

SPEAKER_00 42:03

Fantastic. Thank you so much again, Ryan, for being here. Thank you all for listening. I hope you found this as valuable as I have. Don't forget, go to paymykids.com and get your free guide and get a hold of Ryan for some tax strategies. And we will see you next time. Bye.