Profitable Painter Podcast

Send us Fan Mail Ever wonder how you can strengthen your painting business while minimizing your tax liabilities? Join us as we unravel the secret to building a robust support team for your painting venture and taking advantage of tax deductions. We shed light on the importance of seeking advice from trusted external sources such as friends, family, and industry events. Aboard this enlightening jo...

Send us Fan Mail Are you ready to unlock the potential of digital marketing for your painting business? Promising you a rich tapestry of insights, we welcome Austin Houser, the savvy owner of Basecoat Marketing, who joins us to unravel the intricacies of data science tailored for the painting industry. Austin shares the psychological aspects of marketing and underlines the import of trust as the k...

Send us Fan Mail Ever wonder how to navigate the labyrinth of depreciation in taxes? Your curiosity ends here as Richard, our tax director, steps in to guide you through the intricacies of bonus depreciation. We unravel the four cardinal questions to ascertain a property's eligibility for depreciation. We also unpack the complexities of recovery periods and share a valuable nugget about a saf...

Send us Fan Mail What if you could take your business from a $2 million turnover to a staggering $10 million? Jason Paris did exactly that with his company, Paris Services LLC, and he's here to share his journey and insights. We discuss the challenges and complexities of scaling up in the painting industry, as well as the invisible ceiling a lot of businesses seem to hit when trying to break...

Send us Fan Mail What if you lived in a world where your painting business had a superpower? The power to generate more leads, close more deals, and elevate customer satisfaction all at the same time. Welcome to our podcast episode where we unravel this superpower - the use of technology and automation to streamline your business processes. Learn how to differentiate your painting business from th...

Send us Fan Mail Are you curious about how you can save tens of thousands of dollars on your tax bill every year? Are you tired of being blindsided by hefty tax liabilities and feel clueless about how to reduce them? We, Daniel and Richard from Bookkeeping for Painters, promise to help you seize control of your financial future as we delve into the essential but neglected world of tax planning. We...

Send us Fan Mail Ever wondered how well-documented processes can make or break your painting business? Join Daniel, the founder of Bookkeeping for Painters, and Jonathan, an experienced advisor, as we shine a light on the importance of such processes. We’ll be throwing the spotlight on key processes like HR, marketing, sales, operations, customer retention, and accounting, and unraveling the signi...

Send us Fan Mail Strap yourself in and prepare for a deep dive into the world of painting businesses as we chat with Mike Gore-Hickman , founder of PainterGrowthcom and revered contractor coach. Discover how Mike broke all the rules to scale his student painting business from a $500,000 venture to a $1,000,000 empire. Experience his journey from challenging the status quo to creating a unique busi...

Send us Fan Mail Are you looking to unlock the financial success in your professional painting business? We've got you covered! This episode is a treasure trove--packed with insights from our experiences with numerous painting businesses, helping you sidestep common obstacles and swiftly scale from square one to a solid 500K. From choosing the right entity for your venture, zeroing in on your...

Send us Fan Mail Are you ready to unravel the complexities of the Employee Retention Credit (ERC) and understand the recent IRS pause in processing these credits? Buckle up as we promise you an enlightening discussion that explores the purpose of ERC, its significance for businesses affected by the pandemic, and the underhanded tactics some companies are resorting to for accessing this program. We...

Send us Fan Mail Are you ready to tackle the intricacies of the looming Corporate Transparency Act? We're here to guide you through this complex legislation set to kick off on January 1st. This act brings a hefty load of additional paperwork, especially for the small business owners, and knowing who exactly it applies to and the potential penalties for non-compliance are critical. Whether you...

Send us Fan Mail Ever wondered why your painting business isn't as profitable as you'd like it to be? Grappling with inconsistencies in project pricing, ineffective estimating methods or an unenthused team? My guest this episode, Jon Bryant, co-founder of PaintScout, is here to help you navigate these challenges. Jon shares his entrepreneurial journey, where he transitioned from pricing...

Send us Fan Mail Have you ever been puzzled by the labyrinth of sales tax? Fear not! We unravel the complexities of sales tax that specifically apply to painting businesses, providing you with a practical guide on how to master this crucial area of your business. This episode is packed with essential insights on how to collect, track, and ensure compliance with the varying rules and regulations of...

Send us Fan Mail Ready to revolutionize your financial strategy? Join us, Daniel and Richard, as we navigate the complex world of the pass-through entity tax (PTET), a tax-saving innovation inspired by the Tax Cuts and Jobs Act of 2017. We'll explore its creation, workings, and how it could potentially save businesses in high-tax states heaps of money by leveraging full state tax deductions. ...

Send us Fan Mail Imagine, you pay a contractor for their services, and then the IRS slaps you with a hefty fine for not following the correct procedure, sounds horrifying, right? Well, we're here to ensure that this nightmare never becomes a reality for you. In a rational and informative exchange, Daniel, founder of Bookkeeping for Painters, and Richard, the tax director, explore the often ov...

Send us Fan Mail Ever wondered how secure your personal information is when filing your taxes? Discover the startling truth about data breaches, as we unpack a recent congressional report revealing that well-known tax prep firms like Tax Act, H&R Block, and Tax Slayer were sharing taxpayer details with tech behemoths, Metta and Google. You'll feel the sting of betrayal as we discuss the i...

Send us Fan Mail Are you ready to drastically improve your professional painting business? Well, we've got the key - a performance pay system that will revolutionize the way you manage and incentivize your crew. Our candid discussion dives into this intriguing concept, focusing on how offering bonuses for finishing jobs under budget can turbocharge efficiency. We'll guide you in harnessi...

Send us Fan Mail Ready to revolutionize your approach to personal finance? We're diving into the Profit First system—a remarkable strategy pioneered by Mike Michalowicz that puts you at the center of your financial universe. Discover how setting boundaries and prioritizing your financial well-being can significantly impact your income allocation, guiding you to set aside profits, taxes, and o...

Send us Fan Mail Remember that vacation to Cancun you've always dreamed of? What if we told you, you can experience it all, while learning how to save on taxes for your business? Daniel, the founder of Bookkeeping for Painters, and Richard, our tax director, share their experience of planning an epic company retreat in Cancun that served as an amazing team-building exercise while also being a...

Send us Fan Mail Welcome to another insightful episode of the Profitable Painter Podcast! In this episode, your hosts Richard and Daniel delve into the overlooked yet advantageous strategy of using an Accountable Plan in your painting business. They shed light on how this IRS-recognized plan can help you deduct expenses that often go unnoticed. Discover how personal vehicles, cell phones, home off...

Send us Fan Mail The "Profitable Painter Podcast: Knowing Your Marketing Numbers" provides listeners with an in-depth understanding of vital marketing metrics in the painting business. The podcast explores foundational concepts like Marketing ROI and Customer Acquisition Cost (CAC), providing explanations, calculation methods, and benchmarks for what is considered a good ROI and CAC in t...

Send us Fan Mail In the podcast episode "Paint, Profits, and Progeny: A Guide to Tax Savings through Hiring Your Kids in Painting Businesses," the hosts discuss the concept and strategy of employing your children in your painting business to achieve tax savings. They delve into the critical legal aspects to consider, including child labor laws, which typically begin to apply from the age...

Send us Fan Mail Do you ever wonder what happens when high-profile figures dodge their tax obligations? Brace yourselves as we delve into the world of tax non-compliance and the potential criminal penalties that come with it. We kick things off by discussing the recent guilty plea by Hunter Biden for neglecting to pay his taxes in 2017 and 2018. We'll also touch on IRS Code Section 7203, whic...

Send us Fan Mail In the thought-provoking episode titled "Reasonable Officer Compensation for S Corp Painting Businesses", hosts Daniel and Richard navigate through the complex yet crucial aspect of determining a justifiable officer salary in an S Corporation (S Corp) running a painting business. The focus of the conversation is on balancing the officer's salary while not excessivel...

Send us Fan Mail In this episode of "Maintaining Healthy Cash Flow in Your Painting Business," we underscore the importance of cash flow, drawing inspiration from business mogul Jeff Bezos.  We elucidate what cash flow means, how it differs from profit shown on an accrual basis P&L statement, and its critical role in a painting business.  We explore three elements impacting cash flow...