SMALL BUSINESS FINANCE – Your Guide to Business Tax Planning & CPA Tax Advice

How do you pay yourself when your business is a partnership LLC? In this episode, I answer a listener’s question about the right way to take money out of a small husband-and-wife partnership LLC. We cover guaranteed payments, partner draws, K-1 income, and why W-2 salaries don’t apply to partnerships. I also talk about when an S Corp election might make sense, why community property states matter,...

What’s driving your business decisions without you even realizing it? In this episode, I unpack Tony Robbins’ concept of the six human needs—certainty, variety, significance, connection, growth, and contribution—and how these hidden drivers impact your success as an entrepreneur. You’ll learn how to identify whether your dominant need is certainty or significance, how these needs can push you forw...

Are you unknowingly paying more taxes than you need to? In this episode, I reveal how overpaying yourself through payroll can cost you thousands in extra taxes every year. Many S corp and C corp owners set their salaries too high without realizing the payroll tax hit on every check. I explain why paying yourself a “big CEO paycheck” can backfire, how to calculate a reasonable salary, and the simpl...

High net worth individuals often feel stuck paying massive tax bills year after year. In this episode, I explain why W-2 income offers very few ways to reduce taxes and why owning a business changes everything. Through real client conversations—including a doctor earning nearly $1M—I show why starting or investing in a business opens the door to meaningful tax strategies. You’ll learn how LLCs and...

Business growth isn’t just about strategy or hard work—it’s deeply tied to your mindset and how you manage your emotions. In this episode, I explore the intangible side of entrepreneurship: how unexamined beliefs, emotional triggers, and the stories we tell ourselves can limit success. You’ll hear how personal experiences shape reactions, why emotional control matters more than you think, and prac...

Confused about payroll taxes? This episode breaks down the different types of payroll taxes and how they affect small business owners. You’ll learn the difference between FICA, FUTA, SUTA, Medicare tax, and self-employment tax, plus the 2024 limits you need to know. Tiffany explains how payroll works for sole proprietors, LLCs, and S Corps, why self-employment tax hits so hard, and how to handle s...

Are you sending too much money to the IRS every year? In this episode, Tiffany explains why most business owners overpay in taxes and how to fix it in 2024. You’ll learn the four most common reasons companies waste money on taxes, including poor planning, bad entity choices, lack of tax strategies, and working with the wrong CPA. Tiffany also highlights the difference between reactive and proactiv...

A major tax bill is moving through Congress, and it could change your 2024 taxes in a big way. In this episode, Tiffany breaks down the Tax Relief for American Families and Workers Act of 2024 and explains how it affects small businesses, families, and entrepreneurs. You’ll learn about expanded child tax credits, bonus depreciation changes, Section 179 limits, new R&D rules, disaster relief de...

What invisible rules are holding you back from reaching your goals this year? In this episode, Tiffany opens up about mindset blocks that limit growth in business and life—and how she’s actively rewriting those “rules” in 2024. From hiring decisions to revenue goals, she explains how unchecked beliefs can sabotage success and how reframing them leads to real change. You’ll learn why mindset is as...

In this insightful episode of our podcast, Tiffany, a seasoned financial expert, delves into the world of real estate investment, offering invaluable advice for investors grappling with passive losses and seeking tax deductions. Focusing on strategies that enable investors to capitalize on these losses, Tiffany shares her expertise in navigating the often-overlooked aspects of real estate taxation...

Are you paying more in taxes than you should? In this episode, Tiffany explains how small business owners can take control of their taxes through smart tax planning instead of last-minute panic. Learn the difference between simple compliance and proactive tax strategies that save real money. Tiffany covers how tax advisory services work, what deductions and tax savings you may be missing, why choo...

Want to start 2024 with clarity and control over your business finances? In this episode, Tiffany shares five key steps every business owner should take to set up for success this year. You’ll learn why separating personal and business expenses matters, how to track income and expenses (even with a simple spreadsheet), the right way to handle receipts and invoices, and how to review your numbers e...

What you say and think about money directly impacts your results. In this episode, Tiffany shares four hidden habits that sabotage your finances and success—and how to stop them in 2024. From the negative things you say about other people’s success, to toxic thoughts about yourself, she explains why these patterns hold you back from financial growth. You’ll learn how to rewire your thinking, use p...

If you’ve been wondering how to pay yourself from your small business, this episode will clear it up. Tiffany breaks down exactly how to move money from your business to your personal account the right way. You’ll learn the key differences between an LLC, S Corporation, partnership, and C Corporation when it comes to paying yourself, plus why keeping business and personal finances separate matters...

Is the home office tax deduction a red flag for the IRS? In this episode, Tiffany tackles the top 5 myths about home office deductions that intimidate small business owners and freelancers. You’ll learn why using this deduction won’t automatically trigger an audit, why you don’t need a full-time business to qualify, and how even a small dedicated space can save you money. Tiffany explains the diff...

Planning for 2024? In this episode, Tiffany breaks down exactly how to set realistic, impactful business goals that actually get done. Learn how to choose 1–3 clear goals, why fewer goals lead to more success, and how to break big targets like revenue growth and passive income into actionable steps. Tiffany shares her own 2024 plans, including a 56% revenue growth target and launching new passive...

In this episode, Tiffany answers a listener’s question about financing a new franchise: should you use personal credit or business credit for vehicles and operating expenses? She explains how to structure loans between yourself and your business, when to formalize a promissory note, how to reimburse yourself properly, and why building business credit early can save you headaches. Tiffany also warn...

Struggling to hit your goals? Your money mindset may be the problem. In this episode, Tiffany dives deep into the hidden beliefs and habits that hold entrepreneurs back from financial success. She shares how to spot limiting money beliefs you picked up in childhood, why gratitude changes everything, and how to release your attachment to money so you can create abundance. Tiffany also explains how...

Your thoughts about money may be limiting your business more than you realize. In this episode, Tiffany shares how she grew her CPA firm beyond seven figures by tackling money mindset issues head-on. She breaks down four critical shifts: getting comfortable with discomfort, using gratitude to change how you see money, recognizing and releasing limiting beliefs learned in childhood, and rewiring ho...

Running out of time to cut your 2023 tax bill? In this episode, Tiffany shares seven smart, last-minute tax savings strategies that small business owners can still use before year-end. Learn how to prepay expenses, slow down invoicing, pay vendors early, and when it makes sense to buy equipment. Tiffany also covers how to leverage credit cards for deductions, why you shouldn’t be afraid to take le...

The end of the year can be chaotic for small business owners—holiday events, last-minute projects, and the pressure to wrap everything up before January. In this episode, Tiffany shares three practical strategies to help you manage stress and stay focused as you close out the year. Learn how to let go of perfection, prioritize self-care so you can show up better in business and life, and delegate...

Are you ready if the IRS comes knocking? In this episode of the Small Business Finance podcast, Tiffany breaks down what documentation you need to avoid costly mistakes during an audit. Learn why bank statements alone aren’t enough, how to track receipts and invoices the right way, and the key details you must record for meals, entertainment, and deductions. She also explains what counts as docume...

If you dread bookkeeping, this episode is for you. Tiffany shares three simple but powerful strategies to get your business finances organized before tax season. Learn how to move from piles of paper to digital systems, create an easy filing structure that works for you, and stay on top of receipts and records so tax time doesn’t feel overwhelming. She also explains how tools like QuickBooks Onlin...

How do you take money out of your business without creating a tax mess? In this episode, Tiffany explains the right way to pay yourself as a small business owner. She covers when you should use distributions versus payroll, how to separate business and personal accounts to avoid IRS issues, and what entity types (LLC, partnership, S corp, C corp) require different approaches. You’ll also learn sim...

In this episode, Tiffany answers listener questions about small business finance, health insurance, K-1s, and capital gains tax. Learn how pass-through entities like S-corps and partnerships work, why K-1 forms are critical for your tax return, and how to handle health insurance correctly on your W-2. Tiffany also breaks down capital gains tax, depreciation, and appreciation in plain English so yo...