In this episode, Cal sits down with tax expert Greg Reed to uncover hidden risks that business owners often miss when it comes to payroll tax withholding. As your income shifts, whether from business profits, life changes, or other sources, your W2 withholding may no longer be enough. Without regular adjustments, this can lead to surprise tax bills, penalties, or even overpayments. Greg explains why reviewing your withholding yearly (ideally in January) is essential, especially after major life or income changes. He also dives into strategies like year-end bonus withholding to avoid penalties, though these come with extra payroll taxes. Plus, state tax requirements often differ from federal, adding complexity. Bottom line? Staying proactive with your payroll tax planning can help avoid surprises, keep your cash flow healthy, and protect your business from costly mistakes.

Main Takeaways:

• Withholding errors can lead to surprise tax bills and penalties.
• Life and business changes (new business income, marriage, etc.) require withholding updates.
• Year-end bonus withholding can help avoid penalties, but increases payroll taxes.
• State and federal withholding rules can differ.
• Reviewing your withholding annually is smart and prevents surprises.
• Working with your CPA or using IRS tools can make adjustments easier

Reach Greg Reed at greed@smartbookstax.com or book a meeting with him at smartbookstax.com

Send us a text

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Think tax season is over? Think again. In this episode, Cal sits down with tax expert Greg to talk about what savvy business owners should be doing after April 15th. From maximizing deductions to planning for upcoming tax law changes, this conversation is packed with insights for those who want to stay ahead—not just compliant.

Greg shares real-world strategies to avoid tax-time surprises, reduce penalties, and keep more of your hard-earned cash. Plus, he breaks down estimated taxes, business structure reviews, and how to fund retirement accounts strategically. He even clears up myths around the home office deduction and reveals a powerful state tax workaround that may not be around forever.

If you’ve ever felt blindsided by a big tax bill or waited too long to make tax-saving moves, this is your wake-up call.

If you’re serious about running a healthy business that’s profitable yet doesn't drown you in taxes, don’t miss this episode.

• Why tax planning is a year-round sport
• What the IRS won’t tell you about extensions and penalties
• A simple strategy to make home office deductions easy and audit-proof
• When to talk to your CPA (hint: now!)
• How the “Pass-Through Entity Tax” workaround can save you thousands

Reach Greg Reed at greed@smartbookstax.com or book a meeting with him at smartbookstax.com.

Send us a text

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

The US Treasury Department announced a major change to beneficial filing requirements affecting most small business owners in the U.S. In this episode, Greg Reed, head of tax at SmartBooks, shares important updates.

He also shares a tax planning success story about how he saved a client $29,000 in tax.

We also discuss important informational filings that still must be made by many U.S. businesses that do business internationally that have major penalties if not done.

Reach Greg Reed at greed@smartbookstax.com or book a meeting with him at smartbookstax.com.

Send us a text

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

I’m excited to announced that SmartBooks Head of Tax Greg Reed is now officially a Certified Tax Coach. Tax planning and minimization has been a core part of our tax practice. With advanced study with the American Institute of Certified Tax Planners, Greg will be able to do even more to help business owners pay less tax.

More specifically, this episode includes:

• Accountants, CPAs, and other roles to fill in your accounting team
• Benefits of working with a Certified Tax Coach
• The right time to do tax planning
• Tax tactics vs. a comprehensive tax strategy
• Greg saves a SmartBooks client $200,000 in taxes
• Documentation is key to being able to justify tax deductions

Reach Greg Reed at greed@smartbookstax.com or book a meeting with him at smartbookstax.com.

Send us a text

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

A challenge all businesses face is setting up the sales function for success. In this episode, Christopher Filipiak explores why it is critical for the Founder to master the sales process regardless of whether the plan is to hire salespeople or for the founder to continue to be the primary salesperson.

More specifically, this episode includes:

• The core of the sales process is creating and having conversations
• Challenges of delegating sales when the founder has not mastered it
• The sales mindset founders need to embrace
• Are salespeople born or made?
• Pitfalls of founders as salespeople
• Founder sales mastery is the foundation for hiring salespeople

Reach Christopher Filipiak at https://www.linkedin.com/in/christopherfilipiak or https://www.christopherfilipiak.com/

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Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Within the past week, the Beneficial Ownership Information (BOI) filing requirement was both reinstated and then suspended again, pending further legal review. Greg Reed provides an update on the current status of the BOI fiing requirement and his filing recommendations.

Greg also provides advice on gathering documentation to make your annual income tax filings as efficient as possible and explains that while you can extend the deadline to file your tax returns, you still need to pay tax by the initial deadline to avoid penalties and interest.

Reach Greg Reed at smartbookstax.com or greed@smartbookstax.com.

Send us a text

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Would you like to learn how to get more customers at a lower cost of customer acquisition than your current marketing is producing? In this episode Sarah Noel Block presents her approach to lean marketing that can be done in just 4 hours per week.

More specifically, this episode includes:

• 01:48 What is “Lean Marketing”
• 02:19 Narrowing your focus to attract more, better-qualified leads
• 05:56 Clearly defining your Signature Offer
• 07:00 Selecting One Marketing Channel to be efficient
• 08:25 Utilizing a Gateway Offer to start new customer relationships
• 11:10 Core Content to nurture prospective customers
• 14:29 How Sarah uses AI to create all her content in 4 hours per week
• 23:59 Passive lead magnets and active lead generators
• 25:42 Sarah’s Tiny Marketing Club resources

Reach Sarah Noel Block at https://sarahnoelblock.com/club

Send us a text

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/

Founders of businesses are unique kinds of people. Some are visionary by nature and struggle to scale businesses despite great personal talent. In this episode Becky Venuti of BV Coaching shares her experience and insight into how these visionary founders can effectively scale their businesses.

More specifically, this episode includes:

• Different kinds of founders
• What is a Visionary founder
• Change management
• The Integrator role
• Avoiding excess complexity
• Building out your team
• Systems and processes
• The importance of training
• Effective delegation
• Strategically deciding what to be good and be bad at
• Becky’s coaching business

Reach Becky Venuti at beckyvenuti.com or becky@beckyvenuti.com

Send us a text

Sponsored by SmartBooks. To schedule a free consultation, visit smartbooks.com.

Thanks for listening!

Host Cal Wilder can be reached at:
cal@empoweringhealthybusiness.com
https://www.linkedin.com/in/calvinwilder/