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.
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.