We are joined by special guest and sponsor Glenn Harper of Harper CPA Plus Accounting to dive into the realities of taxes for Ohioans—especially small business owners.
Here are 10 key takeaways:
- Taxes Are Unavoidable—But Strategies Matter: Taxes are an inevitable part of business, but working with an advisor (like Glenn Harper from HarperCPAPlus Accounting) can make a big difference in how much you pay and how you plan.
- The Tax Code Shapes Behavior: Our tax system isn’t just about funding government; it’s designed to incentivize or disincentivize certain behaviors—like encouraging home ownership with deductions, or penalizing specific business moves.
- Everyone Wants to Pay Less: No matter the income level, people feel they pay too much in taxes and that those richer than them pay too little. Using legal avenues to reduce liability is just smart business—not cheating.
- The Impact on Small Business Owners Is Huge: Even small changes in tax policy can make or break small businesses. Tax burdens often affect whether a business owner can hire, expand, or even take a family vacation.
- Big Corporations Vs. Small Businesses: Large companies have the resources to legally minimize U.S. tax through international maneuvers, while mom-and-pop shops don’t have that luxury and feel the pinch more intensely.
- Tariffs Are Nothing New: The U.S. historically ran on tariffs before the introduction of income tax in the early 1900s. New rounds of tariffs, while politically popular, ultimately trickle down to consumers and small businesses.
- Tax Planning Is Essential—Not Optional: Proactive planning—like setting aside half your revenue for taxes—prevents nasty surprises and helps businesses stay afloat.
- Regulation and “Fairness” Are Ongoing Battlegrounds: Efforts to make corporations or “the rich” pay their “fair share” have ripple effects. Overregulation or unpredictable tax policies can drive businesses (and their jobs) out of high-tax states.
- Small Business Drives the Economy: Entrepreneurs and small business owners are the engine of growth, innovation, and local employment. Policies that support or punish them have outsized effects on the broader economy.
- Clarity and Predictability Are Critical: Uncertainty—whether over taxes or trade—discourages business investment and hiring. Recent legislative “permanence” around deductions and rates has brought needed stability but ongoing vigilance is required.
A Big Thanks to our sponsor, Harper Plus Accounting. They provide more than just basic transactions, offering expert business consultation as well. They go beyond the basics, providing comprehensive advice on saving, planning, and optimizing taxes.
Recorded at the 511 Studios, in the Brewery District in downtown Columbus, OH.
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Stephen Palmer is the Managing Partner for the law firm, Palmer Legal Defense. He has specialized almost exclusively in criminal defense for over 26 years. Steve is also a partner in Criminal Defense Consultants, a firm focused wholly on helping criminal defense attorneys design winning strategies for their clients.
Norm Murdock is an automobile racing driver and owner of a high-performance and restoration car parts company. He earned undergraduate degrees in literature and journalism and graduated with a Juris Doctor from the University of Cincinnati College of Law in 1985. He worked in the IT industry for two years before launching a career in government relations in Columbus, Ohio. Norm has assisted clients in the Transportation, Education, Healthcare, and Public Infrastructure sectors.
Brett Johnson, My Podcast Guy®, is an award-winning podcast consultant and small business owner for nearly 10 years, leaving a long career in radio. He is passionate about helping small businesses tell their story through podcasts, and he believes podcasting is a great opportunity for different voices to speak and be heard.
Mentioned in this episode:
Harper CPA Plus
