In this episode of the "Learn Like a CPA" podcast, host Ryan Bakke interviews Theo Kagabo, CEO of Kagabo Consulting, Accounting and Tax Professionals, also known as Mr. Write Off. Theo shares his journey from pursuing basketball in college to realizing his passion for accounting, influenced by his family's background in the field. He emphasizes the importance of understanding the fundamentals of business through accounting and discusses his experiences with entrepreneurship and the transition from corporate work to starting his own firm. Theo highlights the significance of having a robust accounting system for business growth and delves into the intricacies of tax planning, the benefits of being self-employed, and strategies for minimizing tax liabilities. He also touches on the importance of bookkeeping, the decision-making process for transitioning to an S Corp, and the value of investing in one's business and education. The episode provides insights into effective financial management and the mindset required for successful entrepreneurship in the accounting and tax domain.
Follow Theo Kagado online: https://www.instagram.com/mrwriteoff/
Timestamps:
[00:00:00] Intro
[00:00:21] Childhood Snapback Entrepreneurship.
[00:03:11] Maximizing dollars through weekend work.
[00:07:22] Paying less taxes as 1099.
[00:09:26] Maximizing profits and strategies.
[00:12:46] Real estate investments for self-employed.
[00:16:13] Investing in your education.
[00:21:55] Seeing success through observation.
[00:23:10] Credibility and belief in oneself.
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*None of this is meant to be specific investment advice, it's for entertainment purposes only.
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