TikTok Won’t Save You: Scott Sullivan on Second Chances, Tax Traps, and the Truth About Business

Episode 9: TikTok Won’t Save You: Scott Sullivan on Second Chances, Tax Traps, and the Truth About Business

Episode Summary:

Scott Sullivan had what most people would call a safe career. After years in corporate finance, climbing the ladder at Aflac, and earning his CPA and MAC from Auburn, he made the bold decision to walk away and start his own firm — Bridgepath CFO Solutions.

In this episode, Scott shares how he rebuilt from scratch, what he learned about leadership and risk, and the biggest mistakes business owners make with their taxes. From separating business and personal finances to the truth behind TikTok tax advice, Scott brings refreshing honesty and real-world clarity to one of the most confusing parts of entrepreneurship: managing money the right way.

What You’ll Learn:

• Scott’s winding path from academic expulsion to CPA and CFO.

• The pivotal moment he left corporate life to build his own firm.

• How to know when (and if) to switch from an LLC to an S-Corp.

• The real reason “TikTok tax advice” can get you in trouble.

• Why treating business money like personal money is a recipe for disaster.

• How to prepare for a business sale or handoff to the next generation.

• Common myths about write-offs, vehicles, and “board meetings” in Hawaii.

• What an outsourced CFO actually does — and when your business needs one.

• How to spot and prevent employee theft and internal fraud.

• Why every founder should keep six months of operating cash on hand.

Memorable Quotes:

“TikTok is the worst tax advice there is. Every single situation is different.”

“I don’t view that pot of money as my own — it belongs to the business.”

“I was asked not to come back my first go-round in college. Academic expulsion. But I wasn’t done.”

“You can get away with treating your business like your personal bank account… until you can’t.”

“If you could eliminate one IRS rule, I’d get rid of how unnecessarily complicated they make everything.”

Key Takeaways:

• Reasonable is key. Whether it’s salary, write-offs, or tax deductions — if it feels like a stretch, it probably is.

• Separate your accounts. Mixing business and personal finances can cripple a company (and invite IRS trouble).

• Structure isn’t permanent. You can evolve from LLC to S-Corp or beyond as your business grows.

• Outsourced CFOs do more than bookkeeping. They help you plan, protect, and strategically scale.

• Be proactive. Don’t wait for a tax bill, a fraud issue, or an audit to learn your financial blind spots.

About Scott Sullivan:

Scott is the founder and managing partner of Bridgepath CFO Solutions, based in Columbus, Georgia. His firm helps businesses navigate tax planning, structure, and long-term growth through fractional CFO services. Scott is also an active mentor with StartUp Columbus, helping new founders understand financial strategy from day one.

Connect with Scott Sullivan:

Visit: bridgepathcfo.com
Follow on LinkedIn: @bridgepath-cfo-solutions

Thank you for tuning in to Fountain City Founders. Be sure to subscribe, leave a review, and join us for more insightful stories from Columbus’ entrepreneurial leaders.TikTok Won’t Save You: Scott Sullivan on Second Chances, Tax Traps, and the Truth About BusinessTikTok Won’t Save You: Scott Sullivan on Second Chances, Tax Traps, and the Truth About Businesshttps://www.bridgepathcfo.com/