Wash Talk Ep. 164: Tax planning with The Car Wash CPA

Wash Talk Ep. 164: Tax planning with The Car Wash CPA

Host Rich DiPaolo talks with Alex Smith about tax planning for carwash owners and operators, including the benefits of proactive tax planning.

On this episode of Wash Talk: The Carwash Podcast, host Rich DiPaolo and Alex Smith, owner of The Car Wash CPA, focus on tax planning for carwash owners and operators.

The key points discussed include:

  • Alex Smith’s background and how he started working with carwash owners and operators.
  • The benefits of proactive tax planning compared to reactive tax planning for carwash businesses.
  • The primary reasons that a carwash owner might end up paying more taxes than necessary and how to avoid it.
  • Explanation of the difference between tax credits and deductions.
  • An overview of how much of the sale price of a carwash business will be subject to taxation when it is sold.

Listen to the episode above or subscribe to “Wash Talk: The Carwash Podcast” on Apple PodcastsGoogle PodcastsSpotify and Stitcher.

Be sure to check out the video interview of this podcast below.

Watch the episode above and find more Wash Talk episodes on our YouTube channel.

You May Also Like

Wash Talk Ep. 161: The untapped potential of IBAs with Jason Hayes

Jason Hayes of Leadership Industries talks about profitability outlooks as well as other issues and solutions for monthlies at IBAs.

Are modern in bay automatics (IBAs), carwashing's worst-kept secret? In this episode of Wash Talk, Professional Carwashing & Detailing’s Brian Ankney talks with Jason Hayes of Leadership Industries about the profitability outlooks of IBAs.

They also dive into how teams can overcome customers’ “Tunnel Intimidation,” as well as other issues and solutions for monthlies at IBAs.

Wash Talk Ep. 160: Macro trends with Harry Caruso

Hear Caruso’s insights on the market and learn what carwash operators need to know heading into the second half of this year.

Wash Talk Ep. 159: John Neyland Jr. of CarWash Robotics

John Neyland Jr. shares how automation is revolutionizing the way carwashes operate.

Wash Talk Ep. 158: Talkin’ membership trends with Max Pulcini

Listen or watch as host Rich DiPaolo and Max Pulcini of EverWash discuss important information to track when it comes to carwash membership.

Wash Talk Ep. 157: Jax Kar Wash’s 70th, breaking leadership news

Host Rich DiPaolo and Jason Milen of Jax Kar Wash discuss a milestone anniversary and more company news.

Other Posts

Wash Talk Ep. 156: True or False with Harry Caruso

Harry Caruso of Car Wash Advisory is on the hot seat answering questions on the carwashing marketplace.

Wash Talk Ep. 155: Rinsed announces Series B financing from VMG Technology

Host Rich DiPaolo is joined by Austin Esecson of Rinsed to follow up on the company’s announcement of $20 million in Series B financing from VMG Technology.

Wash Talk Ep. 154: Saving through a cost segregation study

Rich DiPaolo and Sean Lichterman discuss ways to maximize a carwash operator’s tax benefits through a cost segregation study.

Wash Talk Ep. 153: Buying groups: strength in numbers

Host Rich DiPaolo catches up with Chuck Howard and Carl Howard of Autobell Car Wash to discuss the benefits of joining a buying group.