Episode 79 | Top Tax Strategies for Assisted Living Business
In this episode, Brandon Gustafson, an experienced healthcare administrator and owner of two assisted living facilities, delves into various tax strategies for assisted living businesses. He discusses entity separation, depreciation strategies, and the importance of professional guidance in tax planning. The video also touches on advanced strategies like cost segregation, retirement investments, and common tax mistakes to avoid. Brandon emphasizes the value of understanding tax rules and hiring a good accountant to maximize benefits and ensure legal compliance. The episode aims to provide practical and actionable insights for small business owners looking to optimize their tax strategies and achieve financial success in their assisted living ventures.
00:00 Introduction to Tax Strategies for Assisted Living
00:39 Meet Your Host: Brandon Gustafson
01:28 Disclaimer: Consult Professionals
02:17 Entity Structure for Assisted Living Businesses
06:00 Tax Benefits and Depreciation Strategies
11:09 Additional Tax Deductions for Small Business Owners
15:30 Retirement and Investment Tax Strategies
18:40 Advanced Tax Strategies and Common Mistakes
20:33 Conclusion and Next Steps
Resources Mentioned:
Visit our website, AssistedLivingInvesting.net, for additional resources, including our year-long mastermind program and free underwriting calculator.
Get your free business plan checklist today: https://urlgeni.us/alibpc
Learn about the Assisted Living Investing Mastermind: assistedlivinginvesting.net/mastermind
Apply for the Mastermind today: alimastermind.com/application
Join the Bussiness Foundation Basics Workshop: Assisted Living Business Foundation Basics
Learn the five steps to help you start an assisted living business: https://youtube.com/live/dRVCa80SOyM
Get the 12 Week Year Book: https://amzn.to/4bAOpQf
Marketing Made Simple by Donald Miller: https://amzn.to/3ECoNY5
Who Not How by Benjamin Hardy : https://bit.ly/whonothowbooklink
Courses:
- Do you need guidance on your journey to launching your assisted living business: https://urlgeni.us/aliala
- Do you need help building your business plan: https://urlgeni.us/alibpg
FREE Resources:
- Business Plan Checklist: https://urlgeni.us/alibpc
- Calculator: https://urlgeni.us/alicalc
- Lease Agreement Template: https://urlgeni.us/alila
- ProfitPath Analysis Tool: https://urlgeni.us/aliprofitpath
- Grant Writing Template: https://urlgeni.us/aligrant
Need help with your payroll? Get Gusto: https://gusto.com/i/brandon9590
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