How The Rich Utilize Bookkeepers and CPA's To Build Wealth, Minimize Taxes, and Avoid Audits | Matt Bontrager

Today, we have an amazing guest, Matt Bontrager, who makes a lot of impact talking about bookkeeping and accounting, the power of working with a team, and the game of saving more money and building wealth by minimizing taxes and avoiding audits!

Matt Bontrager is a CPA, and Managing Partner at TrueBooks, a platform that provides Tax, Accounting, Bookkeeping, and CFO Services for real estate investors. He is also the Founder of Bookkeeping Blueprint, a groundbreaking bookkeeping course that leverages AI technology to help you build a 6-figure business from scratch. Through Matt’s entrepreneurial spirit, and expertise in accounting, in 2020, he jumped off the cliff from a solid W2 role to engage partnership and build a firm. He always makes accounting attractive, and able to help people pay less (sometimes zero) in taxes.

Some Questions I Ask:

Where did these all start and how TrueBooks came to be?

How did you exercise that confidence and lean into that identity as a business owner?

How did you position yourself and what did you do to make yourself an attractive partner?

Why is Accounting so important and why so many people neglect this area when it comes to finances?

What are some of those mistakes that you see entrepreneurs and business owners making with their taxes and finances?

How do you dissect P&L and Balance Sheets?

What is the healthy rhythm and approach for how to stay intimate with your P&L and Balance Sheet?

When should people be thinking about how far and advance should they be talking with their CPA or thinking about tax planning to save much money?

How should business owners be thinking and approaching the budget for proper accounting and tax planning?

Is there any new IRS code that’s changing for investors and entrepreneurs to be paying attention to in the near future?

What are the best practices that people should take to avoid getting audited?

What are some of the best proven tax loopholes that people should be consistently looking at taking advantage of these and they aren’t?

In This Episode, You Will Learn:

Mitigating risk and cloud thoughts on shifting career path.

The power of working with a team to succeed faster.

The importance of getting in tune with your income and expenses.

Saving a ton of money with bookkeeping.

Matt’s best tax planning advice.

How to avoid big audits.

Quotes:

“[Accounting] It is truly a language of business.”

“Your accounting should be saving you a ton of money, much more than what you are paying them.”

Resources Mentioned:

Quickbooks

Connect with Matt Bontrager on:

https://www.instagram.com/mattbontrager/

https://www.truebookscpa.com/

Sponsor Links:

Brevo: Visit https://brevo.com/mindcast or Use the code MINDCAST and get 50% off your first 3 months!

Show Brought To You By: www.MillionaireMindcast.com

Questions? Comments? Do you have a success story you would like to share on the show?

Send us an email to: Questions@MillionaireMindcast.com