In this episode of the M&A Launchpad Podcast, hosts Casey Minshew and Ben Suttles sit down with Bob Stabell of Think Tax Strategies to discuss how R&D tax credits, revitalized and expanded under the One Big Beautiful Bill, are creating real leverage for business buyers. Bob breaks down what qualifies today, how credits can be accessed retroactively in certain situations, and why these incentives matter far beyond traditional manufacturing or technology companies.
This conversation is especially relevant for buyers navigating acquisitions in the lower and middle market, where tax strategy can materially impact deal economics, post-close cash flow, and negotiations with sellers.
Key Topics Discussed
- How R&D tax credits actually work and why they differ from deductions
- What types of businesses qualify today, including service and field-based companies
- How buyers use credits as negotiation and cash-flow tools in acquisitions
- What the process looks like and how Bob’s team supports CPAs and buyers
Contact:
Bob Stabell
Think Tax Strategies
Website: thinktaxstrategies.com
Email: robert@thinktaxstrategies.com
Additional Resources
- Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions.
Visit: www.oconnelladvisorygroup.com.
- Join us at the M&A Launchpad Conference on May 2, 2026 in Houston. Use code: LAUNCH for $150 Off. Get details: https://malaunchpad.com
- Contact the M&A Launchpad team at: info@equitylaunchpad.com.
- Explore more: https://www.equity-launchpad.com
🎧 Podcast on YouTube: https://youtu.be/VMzucYNEH3Y
🎧 Podcast on Spotify: https://open.spotify.com/episode/3OFFLC19ahuoKOL4PbraK2
🎧 Podcast on Apple: https://podcasts.apple.com/us/podcast/how-r-d-tax-credits-impact-acquisitions-with-bob-stabell/id1740382586?i=1000747378149
Transcript
00:01 Hey there, this is Casey with the M&A
00:03
00:03 Launchpad podcast. I want to invite you
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00:55
00:55 >> All right. Today on our show, we
00:57
00:57 interviewed Bob Stable. And Bob is not
01:00
01:00 only an entrepreneur, but he focuses in
01:03
01:03 on tax strategies around the big
01:05
01:05 beautiful bill, R&D tax credits. Now,
01:08
01:08 many people have said, “Man, I don’t do
01:10
01:10 R&D or do a lot of these things, but the
01:12
01:12 bill has gotten so big, right? Because
01:14
01:14 it’s trying to put cash back in to
01:18
01:18 businesses.” Yeah. And so there’s a lot
01:19
01:19 of great incentives, meaning being able
01:21
01:21 to go back two, three years and get
01:23
01:23 these credits under one amendment. So we
01:26
01:26 brought Bob on today to go into that. So
01:28
01:28 Ben, what were your thoughts?
01:29
01:29 >> You know, I mean, I something very very
01:31
01:31 interesting. I mean, I’ve recently heard
01:32
01:32 about it through Casey. I mean and and
01:34
01:34 we talk about you know some of the real
01:36
01:36 life case studies that we went through
01:37
01:37 with Bob where the proof was really in
01:39
01:39 the pudding and and you know I mean what
01:41
01:41 is happening is that the the government
01:43
01:43 is trying to you know not force but
01:46
01:46 incentivize is probably the better way
01:47
01:47 to describe that business owners
01:49
01:49 investors to create more things here
01:52
01:52 right manufacture more things here
01:54
01:54 they’re this administration is trying to
01:56
01:56 onshore more manufacturing innovation
01:58
01:58 and growth and so by doing that they’re
02:01
02:01 going to give you tax credits to do that
02:02
02:02 and that’s That’s really a dollar for
02:05
02:05 dollar, which I love it. I mean, I love
02:06
02:06 I love that, too, where it’s like you
02:08
02:08 got $100,000 tax bill, but you got
02:09
02:09 $100,000 tax credit. I mean, obviously,
02:11
02:11 there’s a fee to it, but it’s a it’s a
02:13
02:13 one for one for one,
02:14
02:14 >> you know, which is huge. And so, you
02:16
02:16 know, I mean, um, it’s definitely was an
02:18
02:18 interesting, eyeopening episode, you
02:20
02:20 know, and I think a lot of our listeners
02:22
02:22 are going to like it.
02:23
02:23 >> Yeah. Let’s jump right in.
02:29
02:29 >> Hey, Bob, welcome to the show. Well,
02:31
02:31 thank you, Casey. Chad, nice to meet you
02:33
02:33 both.
02:34
02:34 >> Yeah, and hey, man. U Ben and I here are
02:36
02:36 going to be uh your champions for the
02:38
02:38 day. Um I know some of our listeners
02:40
02:40 know Ferris has been out for the last
02:42
02:42 couple podcasts, but um you know, he’s
02:45
02:45 he brought twins into the world right at
02:46
02:46 the new year. So,
02:48
02:48 >> congratulations, man.
02:49
02:49 >> Yeah. Oh, actually Ferris, my other
02:51
02:51 partner who usually runs the the other
02:53
02:53 podcast side with me. So,
02:54
02:54 >> I’m sorry. I’m so confused.
02:56
02:56 >> No, you’re good. So, Bob, hey, thanks
02:58
02:58 for joining us today. We know you got a
02:60
02:60 lot of stuff going on in your life. Why
03:01
03:01 don’t you tell our listeners a little
03:02
03:02 bit about your background and uh what
03:04
03:04 you do?
03:05
03:05 >> Sure. Sure. Um I I started out right
03:09
03:09 from school in an accounting profession.
03:12
03:12 I I started actually I spent one year in
03:14
03:14 audit and absolutely hated it and an
03:17
03:17 opportunity opened up in special
03:19
03:19 projects which included the research and
03:21
03:21 development tax credit along with other
03:23
03:23 tax savings incentives for companies.
03:26
03:26 So, I really felt like I was on a noble
03:28
03:28 mission of not only did I get to help
03:31
03:31 small business and help people grow by
03:33
03:33 getting cash in their pocket, but also
03:35
03:35 keeping it away from the IRS. And so,
03:38
03:38 I’ve done that now for over 30 years.
03:40
03:40 Um, my company, Think Tax Spokes,
03:42
03:42 focuses mostly on the research and
03:44
03:44 development tax credit, but we have
03:46
03:46 other incentives that we could find a
03:48
03:48 way to help people make better deals and
03:50
03:50 put more cash in their pocket. So,
03:53
03:53 >> love it,
03:54
03:54 >> man. our favorite look, you know, for
03:55
03:55 our listeners, you know, you buy a
03:57
03:57 company, you you’re working in the
03:59
03:59 business,
03:60
03:60 >> but then you got to start thinking about
04:01
04:01 how do you work on the business, right?
04:03
04:03 >> Yep.
04:03
04:03 >> And one of the things is is it’s not
04:05
04:05 exactly all that you make, it’s what you
04:07
04:07 keep.
04:08
04:08 >> And so we personally, you know, Ben and
04:10
04:10 I and our companies, we’ve used Bob uh
04:13
04:13 this last year to help us do an analysis
04:15
04:15 because of the big beautiful bill. And
04:18
04:18 uh Bob, why don’t you touch on some of
04:20
04:20 those incentives that the big beautiful
04:21
04:21 bill brings? that’s very attractive in
04:24
04:24 today’s market for business owners.
04:26
04:26 >> Casey, that’s a great question and thank
04:28
04:28 you for bringing it up because up until
04:30
04:30 the big beautiful bill. The one of the
04:33
04:33 main incentives which is the research
04:34
04:34 and development tax credit was kind of
04:36
04:36 on hiatus. The reason being is that
04:40
04:40 because of a bill and current
04:42
04:42 legislation, R&D expenses had to be
04:44
04:44 amvertised.
04:46
04:46 So taking the credit made zero sense
04:48
04:48 because you could only take 10% of your
04:51
04:51 qualifying expenses, add 90% of your
04:54
04:54 expenses to your taxable liability to
04:57
04:57 get the tax credit. So it made no sense.
05:00
05:00 As a result, a lot of people have kind
05:02
05:02 of forgotten about the credit and what
05:04
05:04 it means. The one big beautiful bill
05:07
05:07 actually made it current for not only
05:09
05:09 for the current year, it expanded the
05:11
05:11 benefit and it reopened to let companies
05:14
05:14 under 50 million in revenue take it
05:17
05:17 retroactively for 24 23 and 22
05:22
05:22 which allows you to by doing what’s
05:25
05:25 called actually a superseding amendment
05:28
05:28 allows the company to generate cash flow
05:31
05:31 from those tax credits from those prior
05:33
05:33 years rather in an amendment which could
05:36
05:36 take a long time but it gave a really
05:39
05:39 opened it up up until July 1st of 2026
05:43
05:43 excuse me July 6th to where companies
05:46
05:46 can generate cash from all these
05:49
05:49 incentives that they’ve kind of
05:50
05:50 forgotten about.
05:52
05:52 >> So let let me understand that then. So
05:54
05:54 you’re saying that it sunsets July 6. So
05:56
05:56 you have to get all the stuff in over
05:58
05:58 the next six months.
05:59
05:59 >> No. So, the the R&D credit was returned
06:01
06:01 to normal with the one big beautiful
06:03
06:03 bill. And I’ll get into the details in
06:05
06:05 that in a minute. But for that
06:07
06:07 three-year period, there was that rule
06:10
06:10 to amortize those expenses.
06:12
06:12 >> Now that that’s gone, it’s back to
06:15
06:15 absolute normal.
06:16
06:16 >> So, okay,
06:17
06:17 >> the credit’s been around since 1981.
06:21
06:21 And when it was created as part of the
06:22
06:22 Economic Recovery Act under the Reagan
06:24
06:24 administration, it was designed to bring
06:27
06:27 high-tech talent back from overseas. And
06:29
06:29 we’ve all heard the term expats and
06:31
06:31 things of that nature. But to do it then
06:35
06:35 and back in the 80s up until 2001, it
06:37
06:37 had to be new to the world, new to the
06:39
06:39 universe. You pretty much had to have a
06:41
06:41 patent. And I worked alongside of PhDs
06:44
06:44 proving how innovative what they were
06:46
06:46 doing was. in 2001 because we had a
06:50
06:50 different problem. All of the high-tech
06:52
06:52 talent was working for only the big
06:54
06:54 companies. They weren’t working for the
06:56
06:56 small and medium enterprises. So, they
06:58
06:58 pivoted the credit and focused much more
07:00
07:00 on development. Simply meaning it no
07:03
07:03 longer had to be new to the world. It no
07:05
07:05 longer had to be new to the industry. It
07:07
07:07 simply had to be new to you.
07:11
07:11 So the as car case law has passed over
07:15
07:15 the past 24 years, we’ve learned that
07:18
07:18 simple day-to-day things that you do,
07:21
07:21 changes, alterations, improvements,
07:24
07:24 anything to improve what is known as a
07:26
07:26 business component, the labor,
07:29
07:29 materials, and supplies qualify for this
07:31
07:31 pool of qualifying costs. And that
07:34
07:34 qualifying cost becomes a dollar fordoll
07:36
07:36 tax credit against your tax bill. So
07:41
07:41 it’s not a deduction. A deduction if you
07:44
07:44 assume a 21% corporate tax rate, a
07:47
07:47 deduction is worth 21 cents. The tax
07:49
07:49 credit is worth 79 cents against the
07:52
07:52 actual tax bill. Cash for cash.
07:56
07:56 >> Love it. Love it.
07:57
07:57 >> Yeah, man. A lot to unpack. I’m going to
07:58
07:58 take your word. A lot to unpack, but you
08:01
08:01 know, it’s always nice, you know, to
08:02
08:02 take a real life example. And we’re not
08:04
08:04 going to do that just yet because we got
08:06
08:06 a lot more questions, but Bob, I want to
08:08
08:08 go through what you were able to
08:09
08:09 uncover. We’re not going to talk about
08:11
08:11 the company name, but what you were able
08:13
08:13 to do for us in a recent acquisition
08:15
08:15 that we did and what retroactive looked
08:18
08:18 like and then what the go forward looks
08:20
08:20 like and then, you know, what do your
08:22
08:22 services typically cost and how does
08:24
08:24 somebody take advantage of it? because I
08:25
08:25 think a lot of our listeners here, this
08:28
08:28 is a this is a tool that I mean, you got
08:30
08:30 to grab it and run in it now. Um, and
08:33
08:33 and we’re going to talk about the the
08:34
08:34 simple return because then you can
08:37
08:37 because here’s here’s what where it
08:38
08:38 gets. My biggest concern when I was
08:41
08:41 talking to you originally, right, was
08:44
08:44 man, we’re going to have to go back. We
08:46
08:46 bought this company. The seller is
08:48
08:48 getting the benefit, but we’re using it
08:50
08:50 as a negotiation to offset purchase
08:52
08:52 price. Um, in order to do that, we’re
08:56
08:56 going to have to go back and amend all
08:57
08:57 his returns. But what you’re saying is
08:60
08:60 under this big, beautiful bill up to a
09:02
09:02 certain time period, we get to go back
09:05
09:05 and amend 22, 23, and 24 with one filing
09:10
09:10 instead of having to do all these
09:11
09:11 amendments, right? Am I correct there?
09:13
09:13 Okay.
09:14
09:14 >> It’s what’s called a superseding return.
09:17
09:17 So, an amendment obviously they look at
09:19
09:19 what you filed, what you changed, and
09:21
09:21 then they do an analysis and they
09:22
09:22 determine and it takes a while for the
09:24
09:24 IRS. It’s a government agency. A
09:26
09:26 superseding return simply replaces the
09:29
09:29 return already on file and it’s
09:31
09:31 processed under normal means. So, for
09:34
09:34 example, if you’re a corporation and you
09:36
09:36 buy an LLC with one owner, then that
09:40
09:40 superseding return becomes his current
09:42
09:42 personal tax return and it falls under
09:45
09:45 the four to six week window for them to
09:47
09:47 get a return on cash. Same with
09:50
09:50 companies that you already own in that
09:52
09:52 that superseding return replaces the
09:54
09:54 current corporate tax return and those
09:57
09:57 tax refunds are generated putting cash
09:58
09:58 in your pocket.
10:01
10:01 So, you wanted to talk about the recent
10:03
10:03 example. Did you want to have it?
10:05
10:05 >> No, I’ I’d love to just understand, you
10:07
10:07 know, I mean, I’m a little less, you
10:09
10:09 know, involved in it. And so, obviously,
10:11
10:11 Casey’s mentioned it in the past. I
10:12
10:12 think again for our listeners, like
10:14
10:14 maybe take us through, you know, some
10:16
10:16 some main examples. Let’s assume that
10:18
10:18 you you just own a you know, a services
10:21
10:21 business, right? I mean, I get that
10:23
10:23 there’s R&D tax credits or there’s
10:24
10:24 credits that you can take against, you
10:26
10:26 know, making something better, right?
10:27
10:27 But like, let’s assume that you don’t
10:29
10:29 create any widgets. You don’t have
10:31
10:31 necessarily a product. Maybe you have a
10:33
10:33 service. What would be some examples
10:35
10:35 there? And then maybe we can get into
10:36
10:36 the more, you know, some more asset
10:39
10:39 heavy businesses too.
10:41
10:41 >> Because most people think R&D, well, I’m
10:42
10:42 doing some research and development, but
10:44
10:44 that but it’s so broad now. Yeah.
10:46
10:46 >> Great. I’m I’m kind of curious about
10:47
10:47 that.
10:48
10:48 >> Well, and thank you for asking that,
10:50
10:50 Chad, because it really is focused on
10:52
10:52 that development side. So, to give you
10:55
10:55 three prime examples are any well
10:58
10:58 actually four. Anybody doing design of
11:00
11:00 something, engineering,
11:02
11:02 >> architecture or a software.
11:05
11:05 >> So if they’re made their own custom
11:07
11:07 software to interface and provide that
11:09
11:09 service, that qualifies for the credit
11:12
11:12 itself. So any design work that they
11:15
11:15 have to do when you talk specifically
11:18
11:18 about services. Now when the thing about
11:20
11:20 services also is when they go into the
11:22
11:22 field, if it’s physical services,
11:25
11:25 nothing well let me rephrase. There’s
11:27
11:27 the old joke that you have a draw and
11:28
11:28 you go out to do the service and you
11:30
11:30 never have a problem, right? Everything
11:32
11:32 works perfectly, of course. But what
11:36
11:36 ends up occurring is that they have they
11:38
11:38 run into problems that they have to
11:41
11:41 solve in the field. Okay? And then they
11:44
11:44 might have to create a new solution
11:47
11:47 under what’s called TD9680.
11:50
11:50 What they do is any materials cost that
11:52
11:52 they use to come up with that solution
11:53
11:53 is actually considered a prototype
11:56
11:56 because they’ve never made one exactly
11:58
11:58 like that before.
12:00
12:00 So what most people fail to understand
12:03
12:03 when they hear tax credit is they don’t
12:05
12:05 understand it’s policy. Meaning that tax
12:09
12:09 policy is all based on the behavior that
12:12
12:12 the government wants to do. The one big
12:15
12:15 beautiful bill wants small and medium
12:17
12:17 businesses to grow. So they open back up
12:20
12:20 this incentive because it puts cash in
12:22
12:22 the investors pockets and those
12:24
12:24 investors are going to invest in growth
12:26
12:26 of their business. They’re going to
12:28
12:28 invest in growth of jobs and it is
12:31
12:31 essentially an economic incentive
12:33
12:33 similar to a grant just not nearly as
12:35
12:35 long of an application just a lot of
12:37
12:37 work on our side.
12:39
12:39 >> Gotcha. and and and going through the
12:40
12:40 process. It is a lot it is a lot of
12:42
12:42 work, but it’s a lot of stuff that you
12:44
12:44 already have, which is like your payroll
12:46
12:46 reports,
12:47
12:47 >> your tax returns, your financials, those
12:50
12:50 basic things. And then
12:52
12:52 >> things that you should be doing anyway,
12:53
12:53 right?
12:54
12:54 >> You know, if you’re running a good
12:54
12:54 business, and then and then these guys
12:56
12:56 can do an assessment relatively quick.
12:58
12:58 So, for an example, we submitted two
13:00
13:00 companies to you in Q4, right?
13:03
13:03 >> Correct. So, one company we ended up
13:06
13:06 obtaining 468,000
13:09
13:09 in the tax credit and it was a
13:10
13:10 manufactur plating manufacturing
13:13
13:13 business.
13:13
13:13 >> Correct. And that was for actually just
13:15
13:15 a three-year period because of the way
13:18
13:18 that was limited.
13:19
13:19 >> Yeah.
13:19
13:19 >> That now sits on our CC corps balance
13:21
13:21 sheet and it is now and it and it’s
13:24
13:24 dollar for dollar. So any future taxes
13:26
13:26 it offsets. Right.
13:27
13:27 >> Correct. If you can’t use them because
13:29
13:29 the rule in the credit is simple. If you
13:31
13:31 can’t use it in the current year, you
13:33
13:33 first try to carry it back one year and
13:36
13:36 if not, you carry it forward up to 20
13:38
13:38 years. And as a result of that, two
13:41
13:41 things happen for any investor. Number
13:44
13:44 one, it becomes a deferred tax asset on
13:47
13:47 the books, which looks great to the
13:49
13:49 banks because you’re not going to have a
13:51
13:51 tax bill until that deferred tax asset
13:54
13:54 is eaten up.
13:55
13:55 >> Yep. And then number two, if there is
13:57
13:57 cash that comes in, that cash that comes
13:60
13:60 in is non-t taxable. And so that can
14:02
14:02 help in negotiations as well.
14:05
14:05 >> And then second company, right, we had
14:08
14:08 the seller was at an escort. When we
14:11
14:11 bought it, it turned into a CC court,
14:13
14:13 but he we agreed that we would cover his
14:15
14:15 tax liability in that fiscal year. So he
14:19
14:19 runs
14:21
14:21 uh October to uh September for his
14:25
14:25 fiscal year.
14:26
14:26 >> So we bought we bought in that first six
14:28
14:28 months at his uh March or April 1st
14:31
14:31 called that day.
14:32
14:32 >> So we’re responsible for his taxes on
14:34
14:34 that. Plus we’ve got taxes due in
14:36
14:36 September and we’re going to a calendar
14:39
14:39 year.
14:40
14:40 >> So in that calendar year we need to
14:42
14:42 follow a short stip year for October,
14:44
14:44 November, December to now get 26 on a
14:46
14:46 calendar year. You’re paying tax on
14:48
14:48 every return, right? It is what it is.
14:51
14:51 >> So Bob, kind of go through that what
14:53
14:53 what what we ended up uncovering for the
14:56
14:56 stub years and then for the future. What
14:58
14:58 is it? What is upcoming benefit?
14:59
14:59 >> For his benefit there, the the previous
15:02
15:02 owner’s benefit, there was, you know,
15:05
15:05 $280,000 benefit to him from those prior
15:08
15:08 years.
15:09
15:09 >> Yeah.
15:10
15:10 >> Now that becomes for this stub year
15:12
15:12 another $80,000 that’s going to be
15:14
15:14 divided in those chunks.
15:17
15:17 But that puts you in a negotiation
15:19
15:19 position to say, I brought this in and I
15:22
15:22 know we have a contract and whatever
15:24
15:24 else, but you know, this is cash going
15:27
15:27 into your pocket and that could be used
15:29
15:29 in any way how creative you want to be
15:31
15:31 in your investment and that can be used
15:34
15:34 to do multiple things. Not to mention,
15:37
15:37 you establish that baseline and going
15:40
15:40 forward you can count on that credit
15:42
15:42 every year.
15:43
15:43 >> What happens? You lower your quarterly
15:45
15:45 tax payments. that puts cash in your
15:48
15:48 pocket. I mean, the refunds are great
15:50
15:50 for that one-time pump, but then you can
15:52
15:52 lower your quarterly tax payments
15:54
15:54 because you know the credit’s coming and
15:56
15:56 that puts cash back in the business. In
15:58
15:58 the cases of startups, when you change
16:00
16:00 new entities,
16:02
16:02 they have to be under 5 million and one
16:05
16:05 of the prior five years has to be zero.
16:08
16:08 It can be used against payroll taxes,
16:10
16:10 which let’s be honest, that’s the
16:11
16:11 hardest check to write next to payroll.
16:14
16:14 >> Second hardest.
16:16
16:16 Yeah. So, all in on the second company,
16:18
16:18 we’re looking at a little over 350,
16:21
16:21 possibly 400,000 all-in through the
16:23
16:23 time. So, we’re going to be able to
16:24
16:24 offset a tremendous amount of investor
16:26
16:26 capital that’s going to go out, money
16:27
16:27 into the new company, and we’re also
16:30
16:30 negotiating with the seller to reduce
16:32
16:32 down some of his working capital that
16:33
16:33 we’re paying him back on. So at the end
16:35
16:35 of the day, right, we we you know it the
16:38
16:38 product, not only if you’re currently in
16:41
16:41 business and you’ve been in business for
16:42
16:42 five years now, you could go and really
16:44
16:44 take a rip at that, but if you’re buying
16:46
16:46 a company, having a tool like this to be
16:48
16:48 able to sit down with the seller and
16:49
16:49 say, “Hey, listen, if I can bring you
16:52
16:52 back some cash from your prior tax
16:54
16:54 returns based on what I’ve looked at,
16:56
16:56 can we use that towards a credit or cash
16:58
16:58 or something you can negotiate with?”
17:00
17:00 >> Yeah. And I would say, I mean, it they’d
17:03
17:03 be crazy not to do it, right? you know,
17:04
17:04 I mean, yeah, it’s free money and and
17:06
17:06 they wouldn’t have gotten it without
17:07
17:07 the, you know, the knowledge that we
17:09
17:09 would bring to the table. So, I I think
17:11
17:11 these are great creative strategies that
17:12
17:12 you can use if you’re buying a business,
17:14
17:14 right? You know, talk to Bob and his
17:16
17:16 firm ahead of time. You could probably
17:18
17:18 do an assessment, you know, with the due
17:20
17:20 diligence information that you’re
17:21
17:21 getting already on on the financial
17:22
17:22 side, you know, are they are they due an
17:25
17:25 R&D credit, right?
17:26
17:26 >> Right. And then you can do it up front
17:28
17:28 like we did it postc closing, right?
17:30
17:30 Yeah,
17:30
17:30 >> you know, because the big beautiful bill
17:32
17:32 just passed 6 months ago. But for, you
17:34
17:34 know, for people that are that are
17:35
17:35 listening to this right now, maybe
17:37
17:37 you’re even under contract, reach out to
17:39
17:39 Bob because you might be able to get a
17:40
17:40 few hundred grand or maybe even more
17:41
17:41 depending on what the business is. I
17:43
17:43 >> It’s tremendous. And and I will tell you
17:45
17:45 also, um, you know, that’s kind of an
17:48
17:48 exercise that we’ve been doing, right,
17:49
17:49 Bob? you know, we’re looking at a
17:50
17:50 company. Yeah.
17:51
17:51 >> You get tax returns. You we have an NDA.
17:53
17:53 You’re not, you know, it’s it’s very,
17:55
17:55 you know, it’s not like we’re sharing a
17:56
17:56 lot of data, but you’re able to say,
17:58
17:58 “Hey, look, there’s like 300 grand
17:59
17:59 there.” And you’ve got to look at the
18:01
18:01 industry. Now, both of the companies
18:03
18:03 that we looked at have manufacturing
18:06
18:06 components involved.
18:07
18:07 >> Yep.
18:07
18:07 >> Labor into that, right? And then we had
18:10
18:10 to sit down on the payroll over the last
18:12
18:12 three years and go line by line with
18:14
18:14 Bob’s team and basically say, “Hey, what
18:17
18:17 does this job do? what are those things
18:20
18:20 right and then you guys have a
18:21
18:21 calculation to be able to come out to
18:23
18:23 spit out what that are needed so it’s
18:25
18:25 not like you just write it there’s work
18:26
18:26 involved and there’s there’s an analysis
18:28
18:28 that’s created so Bob go into some of
18:30
18:30 those things so our listeners can go hey
18:32
18:32 this is what I’m going to be up against.
18:35
18:35 >> No absolutely and two things one I do
18:38
18:38 want to emphasize that number one the
18:40
18:40 companies that we worked on for you guys
18:42
18:42 were not that big in terms of revenue or
18:46
18:46 size. No,
18:47
18:47 >> it was the work that they did that
18:48
18:48 qualified. So obviously it scales. The
18:51
18:51 bigger the company, the bigger the
18:53
18:53 benefit.
18:54
18:54 >> Secondly, the a lot of work is really on
18:56
18:56 our side. You should have the
18:58
18:58 information at hand. But really, you
19:01
19:01 know, between document gathering two
19:03
19:03 hours and interviews two to three hours.
19:06
19:06 We take on all of that heavy lifting and
19:08
19:08 doing all of our analysis using what’s
19:10
19:10 called the business component approach,
19:12
19:12 which the IRS requires. And that’s a lot
19:15
19:15 of work on our side, but that’s where
19:18
19:18 we’re able to put together the number
19:19
19:19 that is 100% legal, ethical, and
19:21
19:21 technically valid. We don’t mess around
19:24
19:24 in that arena simply because we also
19:26
19:26 provide the audit defense in the event
19:29
19:29 they want to take a closer look at it.
19:32
19:32 But in most cases, because of the
19:33
19:33 technical report that we provide, it’s
19:36
19:36 never an issue. And in all of my years,
19:38
19:38 I’ve never seen an R&D audit trigger a
19:41
19:41 general because it’s a very specialized
19:43
19:43 team. And our team is designed to mirror
19:46
19:46 that of accountants, lawyers, and
19:47
19:47 engineers. So, and frankly, we know it
19:50
19:50 better than they do because the C
19:51
19:51 students went to work for the
19:52
19:52 government.
19:54
19:54 >> We we love all of our brothers and
19:56
19:56 sisters that work at the IRS though. You
19:58
19:58 know,
19:58
19:58 >> nothing against the IRS because I know
19:60
20:00 plenty of people there. They’re good
20:01
20:01 people.
20:03
20:03 No, I I I you know that’s that’s that’s
20:06
20:06 a good obviously a good segue into you
20:08
20:08 know I mean you know the additional
20:11
20:11 services or I mean actually let me take
20:13
20:13 a step back how much was a part of the
20:16
20:16 beautiful bill big beautiful bill that
20:17
20:17 is excuse me that kind of takes that R&D
20:20
20:20 credit is that was that 50 billion 100
20:22
20:22 billion 25 billion I mean I’m just
20:24
20:24 trying to kind of get a sense of how big
20:25
20:25 this is and then you know if you know of
20:27
20:27 any other creative strategies that
20:29
20:29 you’ve seen people that are buying
20:31
20:31 business because that’s that’s what the
20:32
20:32 podcast’s about, right? People that own
20:34
20:34 and and or are looking to acquire a
20:36
20:36 business. If there’s anything else that
20:38
20:38 maybe maybe not even a part of the big
20:39
20:39 beautiful bill, but stuff maybe maybe
20:41
20:41 just kind of obscure that people don’t
20:43
20:43 know that maybe you and your firm can
20:45
20:45 also help out on as well.
20:47
20:47 >> Absolutely. So, another part of think
20:48
20:48 tax strategies is what for lack of a
20:50
20:50 better word I call the specialized
20:51
20:51 accounting division. meaning that we
20:53
20:53 look specifically at the tax returns,
20:56
20:56 financials, and then if something does
20:58
20:58 not look right or we think there’s
20:60
21:00 another opportunity, for example, if
21:02
21:02 you’re ending up purchasing the property
21:04
21:04 as part of it, purchasing the building,
21:06
21:06 there are strategies for cost
21:08
21:08 segregation and even 179D still
21:10
21:10 remaining because of that building. And
21:13
21:13 then we also look at things that are
21:15
21:15 what I call out of matrix because
21:17
21:17 personally I’ve looked at thousands and
21:19
21:19 thousands of corporate tax returns over
21:20
21:20 the years. And if some numbers seem off,
21:23
21:23 it’s hey, let’s ask about this question.
21:26
21:26 And I know in a couple of these I even
21:27
21:27 asked you guys, hey, let’s take a look
21:30
21:30 at can you help me understand this
21:32
21:32 number because it seems high or it seems
21:34
21:34 low.
21:36
21:36 >> And that helps the buyer kind of dig a
21:38
21:38 little deeper into certain areas that
21:40
21:40 they may not even know are a little bit
21:42
21:42 odd.
21:44
21:44 And so it’s always trying to find ways
21:46
21:46 to identify savings, help generate cash,
21:49
21:49 because all of the incentives that were
21:51
21:51 created for one reason, to get money in
21:54
21:54 your pocket so you move on to the next
21:56
21:56 project. That’s exactly what they’re
21:58
21:58 for.
21:59
21:59 >> Yeah.
21:59
21:59 >> It’s a big stimulus and and it’s for
22:01
22:01 those businesses and and that’s the
22:03
22:03 that’s a it’s it’s part of the big
22:05
22:05 beautiful bill. That’s why I call it
22:06
22:06 beautiful. It’s a big lot of taxes
22:08
22:08 coming back.
22:09
22:09 >> Yeah. And Chad, I did not answer your
22:11
22:11 question, but the big beautiful bill
22:14
22:14 took the R&D credit budget up to 11
22:18
22:18 billion when it was at five pre2022.
22:23
22:23 And 80% of the people taking that 5
22:27
22:27 billion in credits, they were in the
22:31
22:31 field of manufacturing, but that’s
22:33
22:33 creating a physical product,
22:37
22:37 engineering, architecture. All of that’s
22:38
22:38 still included, including software,
22:41
22:41 manufacturing covers a really broad base
22:44
22:44 in the eyes of the IRS. Sure, there was
22:46
22:46 some pharma. There was some other
22:47
22:47 things, but the biggest taker of these
22:50
22:50 are anyone that creates something.
22:54
22:54 >> Yeah. And I think that’s that’s part of
22:55
22:55 the the current administration’s plan,
22:56
22:56 right? Is like, you know, to to more
22:58
22:58 onshore, you know, not only just, you
23:01
23:01 know, critical manufacturing, but I
23:02
23:02 think in general just manufacturing, you
23:04
23:04 know, bringing it back to the United
23:05
23:05 States. And so that’s the reason why,
23:07
23:07 but I mean, you know, I mean, we we come
23:09
23:09 from the commercial real estate world as
23:10
23:10 well as the private equity world. And I
23:12
23:12 think you know people always ask why
23:14
23:14 there’s so much benefit to buying
23:16
23:16 commercial real estate in terms of taxes
23:17
23:17 and it’s the same concept right they
23:19
23:19 want us to invest in these properties
23:21
23:21 and maintain these properties and buy
23:23
23:23 more and maintain those and provide
23:26
23:26 housing right and so it’s the same
23:28
23:28 concept as a business owner right they
23:29
23:29 are trying to give you money back so you
23:31
23:31 can invest and grow your company hire
23:33
23:33 more people create more you know you
23:36
23:36 know uh paying clients I mean it’s it’s
23:38
23:38 it’s the government does some of the
23:41
23:41 stuff fairly well and efficient through
23:43
23:43 these kind of credits, right? And and
23:45
23:45 and and these things that you can kind
23:46
23:46 of take as part of these tax returns
23:48
23:48 because they want you to invest in the
23:49
23:49 economy, right? So people have to
23:51
23:51 realize like why do business owners and
23:52
23:52 investors get a lot of these tax breaks
23:54
23:54 and they always kind of think that it’s,
23:56
23:56 you know, some kind of a dodge and it’s
23:57
23:57 not. It’s because the the government
23:59
23:59 realizes that us as investors and
24:01
24:01 business owners and entrepreneurs are
24:03
24:03 the ones creating more jobs, more
24:05
24:05 growth, and and maintaining these
24:07
24:07 businesses and properties. And so, you
24:09
24:09 know, I think it’s our patriotic duty to
24:12
24:12 take these, right? Because we are trying
24:14
24:14 to grow the economy, right, Bob?
24:17
24:17 >> Okay. Now, you’ve preached and I agree
24:19
24:19 with your preaching 1,000%. But one of
24:21
24:21 the reasons why I love what I do is
24:23
24:23 twofold is that number one, I help
24:26
24:26 people stay in business and create jobs.
24:29
24:29 And I feel really good about that every
24:31
24:31 day.
24:31
24:31 >> Y
24:32
24:32 >> I also keep the money away from the
24:34
24:34 government, spending it on things I
24:35
24:35 don’t want them spending it on.
24:37
24:37 >> Yep. So, I’m on a noble mission and
24:39
24:39 that’s one of the reasons I love what I
24:40
24:40 do.
24:40
24:40 >> Yeah. I mean, I would much rather the
24:42
24:42 money go into the entrepreneurs pocket
24:43
24:43 and and being vested wisely versus, you
24:46
24:46 know, the waste in the in the and the
24:47
24:47 fraud and and some of the stuff that
24:48
24:48 we’re seeing even recently as of this
24:50
24:50 podcast, you know, that our that our tax
24:52
24:52 dollars are getting spent on. So, 100%
24:54
24:54 agree.
24:55
24:55 >> Yeah. Two more items here before we go
24:56
24:56 to our rocket round. I want you to talk
24:58
24:58 about how your services are built and
24:60
24:60 how you typically work with customers in
25:01
25:01 that regards. And then the other option,
25:03
25:03 the other thing I wanted to do is just
25:05
25:05 tell everybody, you know, you and I,
25:07
25:07 this was about, I’d say about nine, 10
25:09
25:09 months ago. We were having, we had
25:11
25:11 dinner, we had drinks, we were hanging
25:12
25:12 out, we were talking about this process,
25:14
25:14 and you know,
25:17
25:17 we’ve executed together, right? I mean,
25:18
25:18 you’ve done a job. I done a great job.
25:21
25:21 You’ve actually worked with a a small
25:23
25:23 town CPA firm to educate them on how to
25:26
25:26 file. They went in, they took all your
25:28
25:28 information, they went in and they
25:30
25:30 figured out every reason not to do it.
25:32
25:32 And then they came back and said, “I
25:33
25:33 think we really need to do this.” So
25:36
25:36 >> funny story, but yes, that’s
25:37
25:37 >> a lot of work. Like I I told I told you
25:39
25:39 I was talking I’ll tell the listener. I
25:40
25:40 told Rob, I said, “Hey, man, your
25:42
25:42 biggest issue is not us. We we’re we
25:45
25:45 understand. Yeah,
25:46
25:46 >> it’s going to be the CPA.” And guys, the
25:48
25:48 listeners,
25:49
25:49 >> you’re the CPA that if you bought this
25:52
25:52 company, it’s kind of nice just to use
25:54
25:54 the CPA that’s always done it. I get it.
25:56
25:56 But at this point, you’re going to have
25:58
25:58 to have some engagement with Bob. That’s
25:59
25:59 why he does there are some cost upfront.
26:02
26:02 There are some things you got to do
26:03
26:03 because he’s got to spend time with
26:05
26:05 those CPAs to educate him because, you
26:08
26:08 know, it’s kind of like your attorney,
26:10
26:10 your CPA, most of them, they know
26:13
26:13 everything. And so when you provide new
26:15
26:15 information and it’s not like on a CR
26:17
26:17 credit or something, it’s really hard to
26:19
26:19 just explain it to them. So Bob does a
26:21
26:21 great job of communicating and
26:23
26:23 delivering a document that gets us gets
26:25
26:25 you uh for your CPA to go, you know
26:27
26:27 what, this is validated.
26:28
26:28 >> And and and I think I always kind of
26:30
26:30 equate CPAs, I mean there there’s
26:32
26:32 there’s the specialists and the
26:33
26:33 generalists, right? You know, and I
26:35
26:35 think and same thing with attorneys,
26:37
26:37 too, right? You know, not all attorneys
26:39
26:39 are made made equal. Some are going to
26:40
26:40 have very specialized knowledge and
26:43
26:43 experience when it comes to certain
26:44
26:44 things. And so, you know, I mean, I
26:46
26:46 think as business owners and investors,
26:48
26:48 you need to go to the people that
26:49
26:49 understand these credits and how this
26:52
26:52 works, right? And then they can, you
26:54
26:54 know, CPA to CPA talk to whoever you
26:57
26:57 might want to Joe Bob has done my tax
26:58
26:58 return for 25 years. Okay, that’s fine.
27:00
27:00 Bob would is going to work with them and
27:03
27:03 they can talk CPA to CPA and it will it
27:06
27:06 will get it will get, you know, they
27:07
27:07 might take them a little bit of
27:08
27:08 resistance for upfront, but they’re
27:10
27:10 going to eventually get it because
27:11
27:11 they’re like, “Okay, I’ve looked at the
27:12
27:12 tax code. I see that this is legit. I
27:14
27:14 see where it’s going to go on the tax
27:16
27:16 return. Let’s get this done.
27:17
27:17 >> And guys, that was one of those value ad
27:20
27:20 services I called kind of BS on Bob. I
27:22
27:22 was like, “Yeah, you’re really going to
27:23
27:23 do all this?” And we did.
27:24
27:24 >> So, part of my agreement was to get him
27:26
27:26 on this podcast and tell you guys about
27:28
27:28 it because
27:30
27:30 >> we wanted to see it done. We wanted to
27:31
27:31 see it real. And now we’ve got our final
27:33
27:33 report. We’re filing taxes. We’re doing
27:35
27:35 all that stuff. And we’re like, “Wow,
27:37
27:37 this is a great report.”
27:38
27:38 >> That’s seven or $800,000 across just two
27:40
27:40 companies. And then just so you guys
27:42
27:42 know, I mean these are not huge huge
27:43
27:43 companies as Bob mentioned. So I mean
27:45
27:45 just imagine if you’re buying a 30 40
27:47
27:47 $50 million business, right folks? And
27:50
27:50 maybe it’s heavy on on on on
27:52
27:52 manufacturing, you could be talking
27:54
27:54 about seven figures, you know, of tax
27:56
27:56 credits that could be potentially due to
27:57
27:57 you.
27:57
27:57 >> Yeah. We just had this call this morning
27:59
27:59 about something that we’re looking at.
27:60
27:60 >> So I mean million. It’s about a million
28:01
28:01 plus. And and and that’s real
28:04
28:04 negotiating. huge, huge, you know, and
28:07
28:07 you can use that as leverage with with
28:09
28:09 the with the business owner that you
28:10
28:10 might be talking to. So, I love I love
28:12
28:12 the strategy, but I guess going back to
28:13
28:13 to Casey’s earlier question, Bob, so
28:15
28:15 kind of talk about, you know, how do you
28:18
28:18 how do you operate in terms of billing?
28:19
28:19 How does it work, you know, just so so
28:22
28:22 our our listeners can kind of
28:23
28:23 understand?
28:24
28:24 >> Well, because there’s work involved up
28:25
28:25 front, we just we charge a retainer,
28:28
28:28 okay?
28:28
28:28 >> And our total fee is a percentage of the
28:30
28:30 credits that we collect.
28:31
28:31 >> Okay? And it really just depends on the
28:33
28:33 project, type of project and things, but
28:35
28:35 generally it’s about a 4 to1 rate of
28:37
28:37 return for the client. Got
28:40
28:40 >> because we provide all the work in our
28:42
28:42 back end and the audit defense, the
28:43
28:43 value ad with accountants etc. Okay.
28:47
28:47 >> Generally that’s how we do business
28:49
28:49 itself. Um
28:52
28:52 the nice thing about and then the
28:53
28:53 retainer is credited. So the total will
28:55
28:55 never exceed the percentage of credits
28:57
28:57 you actually return. And as you said
28:58
28:58 earlier, it’s money you were never going
28:60
28:60 to get in the first place.
29:02
29:02 And therefore we do it on that
29:03
29:03 percentage fee basis.
29:05
29:05 >> Yeah. It’s you know I mean I hate to use
29:08
29:08 the phrase free money but I mean it’s
29:10
29:10 it’s yeah it’s money that you you
29:12
29:12 wouldn’t have known about without Bob’s
29:13
29:13 firm right. So I mean it’s it’s it’s a
29:15
29:15 it’s it’s all upside. So love that
29:18
29:18 >> analogy Chad and Casey is that if I show
29:21
29:21 Ben and Casey’s we’re going to edit to
29:22
29:22 Chad.
29:25
29:25 >> It’s all good. It’s all good.
29:28
29:28 >> He’s just he’s all he’s just messing
29:30
29:30 with you. It is Ben, but you know, I’m
29:32
29:32 just going to let you slide on it.
29:33
29:33 >> Well, I keep Sean and Ben confused. But
29:35
29:35 anyway, if I hand you a $10 bill and I
29:38
29:38 say, “Give me $250 for it.” Is that a
29:40
29:40 deal? $2.50. Is that a deal you’re going
29:42
29:42 to take
29:44
29:44 >> for a $10 bill?
29:46
29:46 >> Yeah.
29:46
29:46 >> Hell yeah.
29:48
29:48 >> So, that’s how we work.
29:49
29:49 >> Yeah. You know, I mean, I think that’s a
29:51
29:51 that’s Yeah. And I think it’s I look at
29:53
29:53 it like this, too, right? It’s it’s like
29:54
29:54 u you know, property tax, you know,
29:56
29:56 protest too, right? Then you if you
29:58
29:58 don’t protest it, then you’re never
29:60
29:60 going to earn the you’re never going to
30:01
30:01 get the discount. So that it’s like it’s
30:03
30:03 it’s really money that again you’re
30:05
30:05 you’re you’re getting from a service
30:07
30:07 that’s being provided otherwise you
30:08
30:08 wouldn’t get it anyway. So um you know
30:10
30:10 don’t don’t be shortsighted folks when
30:12
30:12 you know you don’t want to be you don’t
30:13
30:13 want to be tripping over quarters to
30:15
30:15 pick up pennies, right? You know that’s
30:17
30:17 that’s how I always kind of tell people
30:18
30:18 and understanding that you know you
30:19
30:19 could be six figures maybe even seven
30:21
30:21 figures in in tax credits which are real
30:23
30:23 money. So I love that. Love that. Ben, I
30:26
30:26 mean a good business model makes what?
30:29
30:29 Total net net 10 cents on the dollar
30:31
30:31 ROI.
30:32
30:32 >> Yeah.
30:33
30:33 >> Okay. Whereas this in order So in order
30:37
30:37 to get $100,000 in tax $100,000 you have
30:41
30:41 to sell a million dollar.
30:43
30:43 >> Yep.
30:44
30:44 >> This tax credit will cost you 25% of
30:47
30:47 what you get and it’s dollar for dollar.
30:48
30:48 It’s the same thing and it’s already
30:50
30:50 sitting there for you to take.
30:51
30:51 >> Yeah. Do you do you see? And just one
30:53
30:53 last question as it as it pertains like
30:55
30:55 again and maybe I missed it on on your
30:57
30:57 earlier statement. So the big beautiful
30:58
30:58 bill kind of rejiggered it, revived it,
31:02
31:02 you know, is this something that’s going
31:03
31:03 to continue now in perpetuity now that
31:06
31:06 it’s been codified?
31:07
31:07 >> It’s permanent. So in 2016 during the
31:09
31:09 Obama administration, it became a
31:11
31:11 permanent part of the tax code. Okay.
31:13
31:13 >> It will remain a permanent part of the
31:14
31:14 tax code. And bipartisanly from 1981 to
31:18
31:18 2016, it was passed every two years and
31:21
31:21 renewed.
31:22
31:22 >> Okay. almost unanimously because no one
31:24
31:24 wants to be the one that kills
31:25
31:25 innovation.
31:27
31:27 >> Yeah.
31:27
31:27 >> So really even in the last election it
31:31
31:31 was they couldn’t make changes to what
31:34
31:34 was already passed in the past.
31:36
31:36 >> Yeah.
31:37
31:37 >> So I mean so if you’re listening to this
31:38
31:38 in 2027 this thing should should be
31:40
31:40 still should be in in place.
31:42
31:42 >> Dude, so Bob and I were just talking. So
31:44
31:44 with uh with our manufacturing company
31:45
31:45 we did 22 23 and 24. We’re about to do
31:49
31:49 25. the other company. We got all the
31:51
31:51 way through 25. That’s how we negotiated
31:53
31:53 it and then we’re doing 26, right? And
31:56
31:56 so every year we’re gonna click down on
31:59
31:59 those taxes. Why not? And so Bob and I
32:01
32:01 get in a rhythm. He’s got the
32:02
32:02 information. We got all the stuff, you
32:03
32:03 know, and so for me it’s it’s no
32:05
32:05 different than protesting your taxes,
32:07
32:07 right?
32:07
32:07 >> You’re doing it every year.
32:08
32:08 >> And it and it’s Yeah. It’s pretty
32:10
32:10 awesome.
32:11
32:11 >> Yeah. Yeah. And I think Bob, you know, I
32:13
32:13 mean, you could probably without them
32:15
32:15 having to slam down a retainer, maybe
32:17
32:17 having a consultation type call with
32:19
32:19 with potential clients and they just
32:20
32:20 explain what their business model is and
32:22
32:22 you could probably have a pretty good
32:23
32:23 idea if it’s going to if it’s going to
32:25
32:25 fall within that. Yeah.
32:26
32:26 >> No, no, no. It I I do a lot of free
32:29
32:29 upfront to do analysis. Happy to look at
32:31
32:31 tax returns, everything to earn that
32:33
32:33 business.
32:34
32:34 >> Yeah.
32:34
32:34 >> And obviously, we’re not going to charge
32:35
32:35 a retainer that we’re going to have to
32:37
32:37 refund if we can’t find you a credit.
32:39
32:39 So, it’s very important to walk through
32:41
32:41 there and understand what’s going on,
32:43
32:43 but there’s a lot. I don’t want to say
32:45
32:45 totally free because that that initial
32:48
32:48 call, the consultation, there’s never a
32:49
32:49 charge. It’s just to find out how can we
32:51
32:51 help, how much can we help, if we can
32:53
32:53 help.
32:54
32:54 >> All right. So, we’re going to get to
32:55
32:55 Bob’s contact info at the end of the uh
32:58
32:58 the show here so you guys can reach out
32:60
32:60 and at least just pick his brain like,
33:01
33:01 “Hey, I’ve got so and so type of
33:03
33:03 company. This is the products and
33:04
33:04 services that we provide. Does this make
33:06
33:06 sense?” Right?
33:07
33:07 >> John from our conference. I think you
33:08
33:08 got I think you found like 30 40 grand
33:10
33:10 for them. I mean, you know, it could be
33:12
33:12 all different sizes, but I’m there. It’s
33:13
33:13 pretty cool.
33:14
33:14 >> Yeah.
33:15
33:15 >> All right. Rocket round, baby.
33:17
33:17 >> Rocket round. Yes.
33:19
33:19 >> All right. All right. So, I’ll kick it
33:21
33:21 off. Um All right. So, Bob, what do you
33:24
33:24 like to do in your free time?
33:26
33:26 >> Well, um for those that are not watching
33:29
33:29 the video, golf flags are behind me. My
33:31
33:31 uh son is an excellent golfer, and so me
33:34
33:34 and my youngest son play golf, and
33:36
33:36 that’s one of the main things I like to
33:37
33:37 do. my free time. I also love animals,
33:39
33:39 so I spend a lot of time with pets.
33:41
33:41 >> Love it. Love it. Love it.
33:42
33:42 >> Love it, man. All right. Second
33:43
33:43 question. What’s your me uh most
33:45
33:45 memorable moment in your business
33:46
33:46 journey?
33:48
33:48 >> The most memorable moment in my business
33:50
33:50 journey was deciding to become an
33:52
33:52 entrepreneur and not work for someone
33:54
33:54 else. Take my knowledge and use it for
33:57
33:57 myself. And Casey,
33:60
33:60 fully transparent, you were very
34:01
34:01 instrumental in that. Um you’ve been
34:03
34:03 good at giving me advice. you’ve been
34:05
34:05 good at, you know, keeping me going and
34:07
34:07 thank you for that because I’m having a
34:09
34:09 lot more fun now than I ever did for
34:10
34:10 working with
34:11
34:11 >> I that’s, you know, all of us have come
34:13
34:13 from some kind of a corporate gig at
34:15
34:15 some point. We’re just like, h, you
34:16
34:16 know, I mean, it’s it’s a lot more work,
34:18
34:18 but at least hey, at least we’re our own
34:20
34:20 bosses. We can still kind of come and go
34:22
34:22 as we want. So there’s there’s there’s
34:23
34:23 that freedom that we have because of
34:25
34:25 that.
34:25
34:25 >> And we’re also going to throw in for for
34:27
34:27 Bob a table in May. I mean, he did a
34:29
34:29 great job for us and so he’s going to be
34:30
34:30 at our conference,
34:31
34:31 >> the M&A launchpad,
34:32
34:32 >> M&A launchpad conference. So he’ll have
34:33
34:33 a table and he’ll be able to talk to
34:34
34:34 these people.
34:35
34:35 >> That’s gonna be huge.
34:36
34:36 >> Yeah, man. So it’s it’s huge.
34:38
34:38 >> All right, so last question here. All
34:41
34:41 right. What is your favorite tool or
34:43
34:43 resource that you use in your day-to-day
34:45
34:45 business?
34:46
34:46 >> Well, really just to keep up with
34:48
34:48 everything that’s going on. My favorite
34:50
34:50 tool resource is actually the news feed
34:52
34:52 that comes across the internet. I know a
34:54
34:54 lot of people say chat GPT. I use it all
34:56
34:56 the time. I use I jokingly call them my
34:59
34:59 team members.
35:01
35:01 >> Yeah. and frankly because it’s the best
35:02
35:02 search engine. But when you use your
35:05
35:05 news feed in Chrome and get the alerts
35:07
35:07 on certain articles, especially when it
35:09
35:09 comes to the tax code, R&D credit, and
35:11
35:11 everything else, I found that to be so
35:13
35:13 handy rather than have to go find things
35:15
35:15 on my own. So that news feed is
35:17
35:17 something I use constantly every day.
35:18
35:18 It’s what I do my morning coffee with is
35:20
35:20 look at my news feeds.
35:21
35:21 >> Yeah, I love it. I mean, they’re they’re
35:23
35:23 really good at, you know, these days
35:24
35:24 curating content that you’re interested
35:26
35:26 in and and it kind of really takes the
35:28
35:28 leg work out of how to kind of search
35:30
35:30 the internet for all of these various
35:32
35:32 things. I don’t know. So, but at least
35:34
35:34 you didn’t say chat GBT right off the
35:36
35:36 bat. I mean, even though we preface we
35:38
35:38 our pre-show, we told couldn’t use chat
35:41
35:41 GBT because we’ve had too many people
35:42
35:42 say that.
35:42
35:42 >> It’s my favorite tool resource. I say
35:44
35:44 that every time.
35:45
35:45 >> I’m Grock all the way. I’m Grock. All
35:46
35:46 right.
35:47
35:47 >> I I have both of them on my team and we
35:49
35:49 do call them part of the team. So, there
35:51
35:51 are two more team members. Very low cost
35:53
35:53 of employment.
35:54
35:54 >> There you go, man. I love it. I love it.
35:56
35:56 >> All right. So, Bob, how can people get a
35:58
35:58 hold of you? And we’re going to put all
35:59
35:59 this in our show notes, but give us the
36:00
36:00 best way to contact you.
36:02
36:02 >> The best way to contact me is through my
36:04
36:04 email, which is actually
36:05
36:05 robertthinktaxstrategies.com
36:09
36:09 >> and the website at
36:10
36:10 thinktaxstrategies.com. There’s a drop
36:12
36:12 form there, the landing page. You can
36:13
36:13 fill out a form and my phone number
36:16
36:16 Houston based is 832701-8508.
36:23
36:23 Text me whatever you feel comfortable
36:25
36:25 communicating me with, I will
36:27
36:27 communicate you with you with. So I’m
36:28
36:28 used to every form of communication.
36:30
36:30 >> Love it. Love it.
36:31
36:31 >> Well, Bob, hey, we are very thankful for
36:33
36:33 the work you did for us last year. We’re
36:35
36:35 we’re we’re I mean very appreciative.
36:37
36:37 Welcome to our network. Welcome to our
36:38
36:38 people. And uh thanks again for what
36:40
36:40 you’re doing.
36:41
36:41 >> Yeah, thanks. Thank you for having me
36:42
36:42 and it was great. It was great to meet
36:44
36:44 you, Ben and Casey as always. It’s good
36:46
36:46 to talk to you and see you. I haven’t
36:48
36:48 seen you in six months, so it was good
36:49
36:49 to actually see your face.
36:51
36:51 >> There you go.
36:52
36:52 >> All right. Thanks, buddy,
36:53
36:53 >> all right?
36:54
36:54 >> Talk soon.
36:55
36:55 >> Thank you for listening to the M&A
36:57
36:57 Launchpad podcast. If you’ve enjoyed
36:58
36:58 today’s podcast and would like to
36:60
36:60 support us, please leave us a rating and
37:01
37:01 review after you listen. I’m Casey
37:03
37:03 Menchu and I look forward to talking
37:04
37:04 with you next week.
