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Buy a Business with Your Tax Bill
Published 2 weeks, 5 days ago
Description
Adam Whelchel paid himself instead of the IRS, putting $35k down on an escape room doing $365k with room to grow.
Register for the webinar:
- The Deal I Almost Bought (And Why I Passed) - TODAY!! - https://bit.ly/4hVeKik
Topics in Adam’s interview:
- Built a $1.5M accounting firm
- Business brokerage opened the acquisition door
- Wanted a business his daughter could appreciate
- An escape room caught his attention
- Fixed costs created massive operating leverage
- Bought the business for roughly $220K
- Put about $35K into the deal
- Business acquisition as a tax strategy
- Re-engaged customers and local businesses
- Plans to double capacity to 20%
References and how to contact Adam:
- Axis Accounting & Tax
- Jeff Homer on Acquiring Minds: 1 Music School to $100m in Revenue
- Adam’s slides
Work with an SBA loan team focused exclusively on helping entrepreneurs buy businesses:
Get a complimentary IT audit for acquisition diligence or post-close transition.
- Visit inzotechnologies.com/eta.
Contact Jenny to learn how Engage can run people operations in your acquisition:
- Jenny Thear: jthear@engagepeo.com
Connect with Acquiring Minds:
- See past + future interviews on the YouTube channel
- Connect with host Will Smith on LinkedIn
- Follow Will on Twitter
Edited by Anton Rohozov and produced by Pam Cameron