Episode 49 - Your Fractional CFO: Interview with Byron Wolfe

✔️Summary: 

In this interview, Byron shares his journey to founding his company CFOAF, which specializes in tax strategy and fractional CFO services. He explains his entrepreneurial background, driven by his realization that he was not suited to being an employee, leading him to start and run multiple businesses, some of which succeeded while others failed. His motivation to understand accounting and tax strategy emerged from his experiences with banks and the IRS, which influenced his business operations.

Byron's company offers comprehensive CPA services, with a strong focus on tax strategy and fractional CFO roles, aimed at optimizing tax liabilities while demonstrating profitability to banks. He delves into the complexities of tax planning, illustrating with real estate investment strategies that leverage cost segregation studies and real estate professional status to maximize tax benefits while maintaining high profitability on paper.

The discussion also covers the benefits of a fractional CFO service, particularly for growing businesses that cannot yet afford a full-time CFO. Byron emphasizes the strategic advisory role of a CFO, which helps companies navigate growth phases efficiently without prematurely expanding their overhead costs.

Byron also touches on broader industry topics like the impact of emerging technologies such as cryptocurrencies and the metaverse, explaining how they influence the state of the world. He highlights the importance of proactive involvement in shaping tax regulations, especially in rapidly evolving fields like cryptocurrency.

Overall, the interview provides insights into strategic financial management and the advantages of leveraging specialized financial services to support business growth and navigate complex tax landscapes effectively.

⭐️About Byron:

Byron Wolfe is the founder of CFOAF, a consultancy offering fractional CFO services and business strategies with a focus on small businesses generating less than $38 million in annual revenue. He is a certified public accountant (CPA) with expertise in cryptocurrency, NFTs, and metaverse-related tax strategies.

Currently serving as the CFO of Black Tie Moving, a company recognized in the INC 5000 list, Byron brings over 14 years of experience in leading financial reporting, accounting, treasury, and human resources operations. His career has spanned roles as CEO and COO across various industries, primarily focusing on financial management. He has provided consultancy for a range of businesses from startups to mid-cap companies, demonstrating a strong ability to motivate, train, and coach teams.

Byron thrives on tackling new challenges, particularly in developing financial models and strategies aimed at achieving rapid and sustainable business growth.

💜 Where to find Byron:

► Website: https://www.cfoaf.com/

► Linkedin: https://www.linkedin.com/in/byron-a-wolfe-cpa/

► Facebook: https://www.facebook.com/cfoaf

☞ Byron’s Book Recommendation:

► "The ONE Thing” by Gary Keller and Jay Papasan: https://amzn.to/3Q2XmcN

► “Buy Back Your Time” by Dan Marte: https://amzn.to/3TYytjv