Buying Local Podcast · Episode 36 · July 29, 2025 · 50 min

Buying Local S3E36: Smarter Financial Decisions for Entrepreneurs with Brian Stidd

In this episode of the Buying Local Podcast, host Mike Nelson talks with Brian Stidd, CPA and founder of Stidd CPA in Glens Falls, NY. Tune in as they discuss the most common mistakes small business owners make with taxes, what’s actually in the “Big Beautiful Bill,” how to track profitability in your business, and much more! Find the Buying Local Podcast on YouTube, Spotify, Apple Podcasts, and Rumble. Learn more about Brian and his firm at stiddcpa.com . 00:00 Intro and location at Brian’s Glens Falls office 02:18 Brian’s background and career path 03:26 Types of clients and small business focus 04:50 Fixing bad tax returns and CPA quality 06:29 Are IRS audits still happening? 08:53 AI’s role in accounting and new tools 12:15 Email overload and time management struggles 14:02 Common tax mistakes small business owners make 17:34 When (and when not) to become an S Corp 20:00 Adding partners and structuring ownership 21:40 Will the IRS or income tax go away? 24:00 Do financially minded owners perform better? 26:11 Tax changes: tips, Social Security, and more 27:27 The real details of “no tax on overtime” 29:35 Updates to 2017 tax cuts and QBI 31:16 Self-employment tax and S Corp savings 33:34 Challenges of doing business in NY State 35:33 SALT deduction increase and local impact 41:07 How to track profitability and simplify QuickBooks 46:00 Weekly reporting, dashboards, and metrics 48:05 Top advice: call your accountant before big moves