In episode 11 of Built By Margin, Laurie Chen welcomes tax strategist Tony Hoong, the Founder and CEO of The CPA Dude, as he shares insights into the biggest misconceptions about taxes, emphasizing that they don’t have to be a dreaded obligation. Instead, he explains how taxes can be used strategically as a wealth-building tool.

Tune in for valuable insights on how to navigate tax season and make smarter financial decisions for your business.

TIMESTAMPS

[00:01:21] Tax misconceptions and wealth building.

[00:04:48] Ideal clients for tax strategies.

[00:06:44] Decision-making and risk framework.

[00:10:35] Investing in coaching programs.

[00:14:11] Powerful tax strategies for clients.

[00:18:50] Common tax strategy mistakes.

[00:20:47] Value of investing in quality.

[00:25:26] Relationship building in finance.

[00:28:56] R&D expenses tax reversal.

[00:34:09] Taxes as a financial weapon.

[00:35:40] Reasonable compensation and audits.

QUOTES

• "The tax is actually going to be like a weapon if you know how to use it." -Tony Hoong
• “That human aspect of working between the client and the tax strategist or tax planner is a key piece of what they're paying for.” -Laurie Chen
• “A lot of real estate folks, and after a while, like once they kind of get good at it, it also becomes like a game to them, just like entrepreneurship.” -Tony Hoong

SOCIAL MEDIA LINKS

Laurie Chen

Instagram: https://www.instagram.com/lauriechencpamba/

Facebook: https://www.facebook.com/lauriechencpamba

LinkedIn: https://www.linkedin.com/in/lauriechen/

Tong Hoong

Instagram: https://www.instagram.com/thecpadude_/

TikTok: https://www.tiktok.com/@thecpadude

WEBSITES

Built By Margin: https://www.builtbymargin.com/

Advanced CFO: https://www.advancedcfo.co/

The CPA Dude: https://thecpadude.com/