It’s time to pivot, folks. For years, I’ve used this space to highlight some of the stories, themes, and news covered by BIZ in each edition — and beyond. However, now, more than ever, we need actionable tools, tricks, and tips for our daily lives, both business and personal.
That is why, beginning this month, I will be writing about some of the most exciting conversations I’ve had on my podcast, Keep This In Mind.
I get that you may not be a podcast connoisseur. Still, the information is nonetheless valuable, and I would be doing you a disservice if I didn’t share and at least allow you to dive deeper. At the end of each column, I will include a link to the full episode or episodes. However, you can hear all the episodes at davidaspecht.com.
Here we go with this month’s installment.
In this recent episode of Keep This In Mind, I speak with Tax Strategist Dwight Dye about how the tax code is set up to help people move from just paying taxes to partnering with the government. Dwight breaks down how incorporating a business, utilizing retirement accounts, and understanding deductions can lead to significant tax savings and a new way of looking at taxes.
Here are three mindset shifts to consider:
1. Changing your perspective on taxes: Taxes can be viewed as a way to pay for public goods and services that benefit everyone. By partnering with the government, you can leverage the tax code to help your business grow and contribute to the community.
2. Understanding tax planning: Tax planning involves analyzing your financial situation and implementing strategies to minimize your tax liability. It can involve utilizing deductions, credits, and other tax benefits to optimize your tax return.
3. Embracing a growth mindset: A growth mindset means embracing challenges and seeing them as opportunities for growth. By shifting your mindset from one of fear and scarcity to one of abundance and possibility, you can maximize opportunities for financial success.
Dwight’s insights on taxation and strategic planning offer a new perspective on how to approach taxes. This episode is a must-listen if you’re looking to shift your mindset about taxes and learn more about how to partner with the government.
Listen to the episode here: https://www.buzzsprout.com/2127048/12983299 or listen on your favorite podcast app.
David A. Specht Jr. is publisher and editor of BIZ. and President of Specht Newspapers, Inc.
