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

Most business owners work hard to build wealth—but many pay far more in taxes than they need to. In this episode, Tiffany explains the powerful Buy, Borrow, Die strategy and how it can help high earners build wealth while reducing taxes legally. You'll learn how tax planning, short-term rentals, cost segregation, bonus depreciation, and borrowing against assets can work together to create long-ter...

Most business owners think tax season ends after they file their return. But that's when many of the biggest opportunities get missed. In this episode, Tiffany Phillips, CPA, shares seven powerful tax strategies that could help business owners keep more of what they earn. You'll learn about the Augusta Rule, heavy vehicle deductions, S-Corp health insurance, home office deductions, Solo 401(k)s, b...

If you own a home, you may be paying far more in property taxes than you have to. In this episode, Tiffany explains seven legal forms that can lower, freeze, or even eliminate your property tax bill. You'll learn about homestead exemptions, senior freezes, appraisal protests, disabled veteran benefits, and other tax strategies that many homeowners never use. She also shares common mistakes that co...

If you own an LLC, this episode could save you thousands of dollars. Learn the right way to pay yourself, when owner's draws make sense, and when an S-corp election may reduce your taxes. Tiffany explains these rules in plain English so you can avoid expensive mistakes and make smarter tax planning decisions. You'll also learn how tax strategies, business finance, and tax savings work together to...

This episode explains one of the biggest tax strategies available to real estate investors: cost segregation. Learn how one investor increased a $25,000 deduction to more than $221,000 in the first year and why that created nearly $47,000 in tax savings. Tiffany also explains who benefits most, how tax planning changes the outcome, and why passive activity rules matter before moving forward. You'l...

Most business owners hear about when to elect S-Corp status—but almost nobody talks about when it becomes an expensive mistake. In this episode, Tiffany Phillips explains when an S-Corp election can actually cost you more in taxes, penalties, payroll, and compliance than it saves. Learn how tax planning, tax strategies, and the right compensation plan can protect your business from costly IRS mist...

Think your business travel isn't fully deductible? Think again. In this episode, Tiffany Phillips, CPA, explains the tax strategies behind business travel that many accountants overlook. Learn how to maximize tax savings with meals, mileage, per diem rates, international travel rules, spouse travel, and proper documentation. Tiffany breaks down the IRS rules in plain English and shares real exampl...

 In this episode, I break down the real difference between a compliance CPA and a tax strategist, and why that gap could be costing your business six figures a year. We cover three real case studies of business owners who lost tens of thousands of dollars because their CPA did the bare minimum, the three pillars that separate a preparer from a strategist, and the exact questions you should ask to...

This episode explains how business owners can legally hire their children to create tax savings while teaching valuable financial skills. Tiffany breaks down IRS rules, payroll requirements, entity structure considerations, and how a Roth IRA can help turn today's tax strategy into long-term family wealth. Next Steps: ➡️ Overpaying your CPA and the IRS? Learn how to stop it in this free training:...

The tax rules changed, and many business owners still don't know how it affects them. In this episode, Tiffany Phillips breaks down four major tax strategies from the One Big Beautiful Bill that could create significant tax savings in 2026. This isn't theory. It's practical CPA advice with real numbers and real examples that can help you keep more of what you earn. If you're a business owner or re...

Most business owners think tax strategy ends in April. It doesn't. It's just getting started! In this episode, we walk through the 5 most important 64 tax planning moves to make before September, including how to run a mid-year projection, the family payroll strategy that works best in summer, the Augusta Rule timing window, equipment purchase planning under Section 179 and Bonus Depreciation, and...

This episode explains why business owners don't have to accept high taxes as inevitable. You'll learn a three-part framework for reducing taxes, building wealth, and using strategic tax planning tools— including a short-term rental strategy that may create significant tax savings opportunities. Next Steps: ➡️ Overpaying your CPA and the IRS? Learn how to stop it in this free training: https://go.p...

Are you paying more taxes than you should? In this episode, we break down three powerful tax strategies that can help business owners and real estate investors keep more of what they earn. You'll learn how Cost Segregation can accelerate deductions, how the Augusta Rule can create tax-free income, and how an Accountable Plan can turn everyday expenses into valuable tax savings. We also cover commo...

Are IRS audits really as scary as people make them seem? In this episode, we break down the biggest IRS audit red flags that business owners need to understand. You'll learn why repeated losses, poor documentation, vehicle deductions, home office claims, contractor classification, and other common issues attract IRS attention. We also discuss the difference between fear-based tax advice and smart...

Most business owners focus on deductions when trying to save on taxes, but real tax savings come from proactive planning. In this episode, you'll learn the difference between tax preparation and tax strategy and how smarter business decisions throughout the year can help improve your financial outcomes. Next Steps: ➡️ Overpaying your CPA and the IRS? Learn how to stop it in this free training: htt...

Think taxes are designed to take your money? Think again. In this episode, we break down how the tax system actually rewards business owners and investors. You'll learn the difference between tax planning and tax preparation, why many entrepreneurs miss valuable tax savings, and how smart tax strategies can help you keep more of what you earn. We cover common tax myths, deductions versus credits,...

In this episode, we break down the five rich rules that shape long-term success. You'll learn how your money mindset impacts your financial future, why wealthy people make different money decisions, and how small habits can create powerful results over time. We also discuss how successful entrepreneurs use business strategy and wealth planning to build assets instead of relying only on income. If...

What if waiting just a few years could cost you over $1 million in retirement wealth? In this episode, Tiffany breaks down one of the biggest Roth conversion mistakes business owners make—and why timing matters more than most people think. You'll learn how Roth conversions work, when they can create major tax savings, and why waiting until retirement may not be the best move. Tiffany also shares i...

Most business owners underuse their retirement plans. That mistake can cost you thousands. In this episode, we break down the solo 401(k) strategy and how it helps you build wealth while reducing taxes. You’ll learn how to maximize contributions, claim tax credits, and avoid common mistakes that wipe out savings. We also cover deadlines, contribution limits, and how to invest in real estate or oth...

Most business owners think taking all income as salary is the safest move. It’s not. In this episode, we break down the tax strategy behind paying yourself the right way—and how getting it wrong can cost you thousands. You’ll learn what “reasonable compensation” really means and how to balance salary and distributions to reduce taxes. We also cover how this impacts tax savings, the qualified busin...

Most high-income business owners think the new SALT cap fix solved their tax problem. It didn’t. In this episode, we break down the truth behind the PTE election and how it can save you thousands in taxes. You’ll learn how this tax strategy works, why the $40K SALT cap is misleading, and how to legally bypass the deduction limit. We walk through real numbers, common mistakes, and the exact steps t...

Moving money between your businesses sounds simple. It’s not. In this episode, we break down the tax strategy behind intercompany transfers and why getting it wrong can cost you thousands. You’ll learn how basis works and why it matters for tax savings. We explain the difference between loans, distributions, and capital contributions—and how each one impacts your ability to deduct losses. You’ll a...

Many women feel guilt around money, success, and ambition. In this episode, we break down the truth about building a business as a woman of faith. You’ll learn how to shift your money mindset and stop believing that success and faith are in conflict. We talk about stewardship, leadership, and how building a business can create impact for your family and others. You’ll also hear practical ways to s...

Buying or selling a business isn’t just a deal. It’s one of the biggest financial and tax decisions you’ll ever make. In this episode, we break down how smart business owners use acquisitions to build wealth and reduce taxes. You’ll learn how to approach deals from both sides, structure offers, and avoid costly mistakes. We also cover due diligence, negotiation, and how tax planning impacts what y...

Most business owners think one LLC is enough. That mistake can cost you everything. In this episode, we break down why a single entity can expose your assets and limit your growth. You’ll learn how to structure your businesses the right way to protect what you’ve built. We cover liability protection, partnerships, and how smart entity setup supports better tax planning and business strategy. You’l...