Smart Tax Strategies Every Entrepreneur Should Know

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Welcome Back to I Know A Guy!

Today, we meet Robert Curtiss, a seasoned entrepreneur and business consultant with a passion for helping small and mid-sized businesses reduce their tax liabilities. Robert has owned multiple businesses, advised entrepreneurs on operational and financial strategies, and now focuses on implementing advanced tax strategies to help businesses keep more of their hard-earned money.

If you're a business owner looking for ways to minimize taxes, optimize operations, and set your company up for financial success, this episode is packed with valuable insights!

How Robert Curtiss Helps Businesses Save Money

Robert specializes in working with small and lower mid-market businesses, typically those with 1 to 250 employees and $1M to $20M in revenue. His mission? To legally and ethically reduce tax burdens so business owners can reinvest in growth, increase profitability, or just take home more earnings.

Rather than pushing generic tax advice, Robert focuses on customized strategies tailored to each company’s needs. He doesn’t believe in aggressive sales tactics; he simply shares solutions, allowing business owners to make informed decisions.

One key takeaway from our conversation was that many small businesses overpay on taxes simply because they aren’t aware of available tax incentives and structures. Robert’s work helps them tap into these benefits, giving them the same financial advantages that larger corporations use.

From Business Owner to Tax Strategist

Robert's journey into tax consulting was shaped by his own experiences as a business owner. Having run multiple companies, he saw firsthand the financial challenges that entrepreneurs face, especially when it comes to taxation and financial planning.

During the COVID-19 pandemic, he shifted his focus to providing tax strategies that businesses could implement remotely, helping companies across the U.S. reduce their tax burdens without changing CPAs or altering core operations.

His approach emphasizes working with business owners, not replacing their existing advisors. Instead, Robert collaborates with CPAs, financial planners, and legal experts to create a holistic tax strategy that aligns with business goals.

Top Tax Strategies for Small Business Owners

Here are a few tax strategies that Robert highlighted during our discussion:

✅ Mini-Captive Insurance Companies (831B): A game-changing tax strategy where businesses can set up their own insurance company to self-insure risks, lower tax liability, and build long-term financial security.

✅ Tax-Efficient Business Structures: Many business owners default to LLCs without considering more tax-friendly options. Choosing the right structure (S-Corp, C-Corp, Partnership, etc.) can result in significant savings.

✅ R&D Tax Credits: Available to businesses investing in innovation, software development, or process improvements this credit is often overlooked by small businesses.

✅ Cost Reduction & Operational Savings: Reducing expenses on shipping, telecom, insurance, and other overhead costs directly improves profit margins.

✅ Exit Strategy Planning: Preparing for a business sale 3+ years in advance can dramatically increase its valuation and provide major tax savings upon exit.

The Biggest Mistakes Small Business Owners Make

Robert has worked with hundreds of business owners, and he’s seen common pitfalls that cost businesses thousands of dollars per year. Here are some key mistakes to avoid:

❌ Not Having a Tax Strategy: Many businesses only consult their CPA at tax time instead of implementing year-round tax-saving strategies.

❌ Relying Solely on Personal Credit: Entrepreneurs often fund their business on personal credit instead of building business credit, which can impact long-term financial stability.

❌ Lack of Exit Planning: Many business owners wait too long to think about selling their company, leading to lost value when they decide to exit.

❌ Ignoring Operational Cost Savings: Businesses often accept high expenses as the norm without actively looking for ways to reduce costs.

Why Every Business Needs Tax Planning

Tax strategies aren’t just for Fortune 500 companies small businesses can (and should) use these tactics too. Robert’s biggest message to business owners is not to leave money on the table.

Whether it’s through reducing taxable income, structuring business operations more efficiently, or leveraging tax credits, Robert helps businesses put more money back in their pockets.

Final Thoughts & How to Connect with Robert

If you’re a business owner looking to reduce your tax liability, optimize your finances, or prepare for a successful exit, Robert Curtiss is the guy to talk to! His expertise can help you legally lower your tax burden, allowing you to keep more of what you earn.

📌 Find Robert Here:
🔗 Website: Incent Advisors
🔗 LinkedIn: Robert Curtiss

Watch The Full Interview Here:

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