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

Are you getting 1099 income in your personal name even though you have an S corporation? This common mistake can trigger IRS audits, self-employment tax, and penalties. In this episode, you’ll learn how to handle 1099 payments the right way, when to push vendors to pay your business directly, and what to do if that’s not an option. We cover the Fleischer case, why an employment agreement between y...

In this episode, discover seven powerful investment strategies that help business owners legally slash taxes while building long-term wealth. From traditional IRAs and 401(k)s to HSAs, donor-advised funds, and the tax advantages of owning a business, you’ll learn how to leverage the tax code to keep more of your hard-earned income. We also cover real estate investing and the little-known benefits...

Can reducing your taxes cross the line into tax evasion? In this episode, we break down the difference between legal tax avoidance and illegal tax evasion so you can protect yourself and your business. Learn how to spot risky strategies, what the IRS “Dirty Dozen” list means, and how to vet the tax planning advice you receive. We also cover why documentation, good communication, and working with t...

What really happens to your taxes when you inherit a house, land, or investments? In this episode, we explain how inheritance works, what a “step-up in basis” means, and why you probably won’t owe taxes if you sell quickly. You’ll also learn about estate taxes (often called the “death tax”), gift tax rules, and how trusts can play a role in reducing future tax liabilities. From understanding when...

Feeling like there aren’t enough hours in the day? In this episode, we talk about how to reclaim your time as a business owner by delegating and outsourcing—both at work and at home. From hiring a virtual assistant and offloading repetitive business tasks to outsourcing personal chores like meal prep, cleaning, and errands, you’ll hear specific examples of how to remove tasks from your plate so yo...

Thinking about buying a small business? In this episode, we walk through a real client’s journey of acquiring a business—from the first conversation with a seller to due diligence and final decisions. You’ll learn how to review financial records, spot red flags, and avoid costly mistakes that can derail a purchase. Discover why CPA advice is critical when checking revenue, expenses, and tax planni...

Thinking about using real estate investing to lower your taxes? In this episode, we break down what high-income earners need to know about real estate tax benefits, real estate professional status, and how passive losses really work. You’ll learn why most W-2 earners can’t use real estate losses, how depreciation and cost segregation affect small business tax planning, and ways to structure invest...

Do you really know how to handle W-9s for your contractors? In this episode, we break down exactly what business owners need to know to avoid penalties and IRS headaches. You’ll learn when to collect W-9s, why timing matters, and how incorrect forms can affect 1099 reporting and your tax deductions. We cover the IRS’s new 2024 W-9 updates, how to verify contractor tax classifications, and why keep...

Are you holding back your business growth without realizing it? In this episode, I share a personal breakthrough about how the need for certainty can quietly sabotage your success. Through a coaching conversation, I realized that my own fear of not knowing every step was stopping me from hiring, improving processes, and scaling. We talk about how this need for control ties into mindset for entrepr...

Are you obsessing over savings goals in your business? This episode challenges that mindset. Instead of penny-pinching, learn why focusing on revenue growth, managing cashflow, and tracking your net worth will take you further, faster. I share how childhood money beliefs create a scarcity mindset, why cutting costs isn’t a growth strategy, and how shifting focus to income generation changes everyt...

Are you overpaying taxes without even knowing it? In this episode, I reveal a common IRS penalty that costs business owners thousands—and how to avoid it. If you’ve ever been hit with a penalty for not paying enough tax throughout the year, this is for you. I explain how estimated tax payments really work, where to look on your 1040 for penalties, and the simple Form 2210 adjustment that can reduc...

Tax deadlines can feel overwhelming, but missing the details can cost you big. In this episode, we break down what every business owner needs to know about filing dates, estimated tax payments, and how to avoid costly IRS penalties. Learn why setting aside money throughout the year matters, how the IRS calculates underpayment penalties, and how to use Form 2210’s annualized income method to reduce...

Thinking about switching to an S Corporation or already made the move? In this episode, we break down exactly how S Corp taxes work and how you actually get paid as a business owner. Learn why “reasonable compensation” matters, when to start payroll, and how distributions differ from wages. We also explain what a K-1 is, how profits are taxed, and why you don’t pay taxes twice on S Corp income. Pl...

Thinking about setting up a C Corporation? This episode breaks down the pros and cons so you can make an informed decision. We cover how C corp taxation works, why the 21% corporate tax rate isn’t always the advantage it seems, and how double taxation through dividends can hit hard. You’ll learn why some business owners choose a C corp structure, how fringe benefits and fiscal year planning can be...

Do you just sign your tax return without really looking at it? That blind trust can cost you. In this episode, I show you exactly how to review your business and personal tax returns so you can catch errors, ask smarter questions, and protect yourself. You’ll learn why comparing this year’s return to prior years is key, how to use the year-over-year reports to spot red flags, and which pages of yo...

Are you using your business bank account as the measure of success? That’s a big mistake. In this episode, we dig into why your bank balance doesn’t tell the full story of your business health and what to look at instead. You’ll learn why your profit and loss statement rarely matches your checking account, the impact of loans, owner’s draws, and depreciation, and how this confusion can stall your...

Not every business should elect S corporation status—and bad advice on this topic can cost you thousands in taxes. In this episode, we break down five red flags that mean an S Corp could be a bad move for you, including owning real estate in the entity, having non U.S. owners, raising outside capital, skipping a reasonable salary, or running a business that isn’t profitable yet. You’ll also learn...

Want to pay less in taxes? In this episode, I share 28 specific deductions and strategies you can use to reduce your tax bill as a small business owner. From startup costs and home office write-offs to paying your kids, retirement contributions, the Augusta Rule, and more—this is a comprehensive list of tax-saving opportunities you probably aren’t fully using. Grab a pen, take notes, and start app...

In this episode, I share five mistakes I made while building my business over the last eight years and how those lessons shaped my growth as a CEO. From struggling with a fixed mindset, getting stuck in the weeds, and hiring too late, to ignoring my health and failing to create space for big-picture thinking—these are the traps many entrepreneurs fall into. You’ll learn why mindset for entrepreneu...

Thinking of electing S Corp status for your LLC? This episode breaks down what every small business owner needs to know to stay in IRS compliance. Learn why community property laws mean your spouse may need to sign Form 2553 even if they don’t own part of the business, how to avoid costly mistakes when filing, and what to do if you discover years later that you missed this step. We also cover what...

Tax season is here, and knowing when and how to file can save you money and stress. In this episode, I explain key tax deadlines for S Corps, partnerships, individuals, and corporations—and why extensions can be a smart strategy. You’ll learn when it makes sense to file early, why delaying can sometimes reduce audit risk, how to handle taxes if you owe, and what to do if you’re behind on past retu...

Hiring can feel like one of the scariest steps in running a small business. In this episode, I break down how to decide when it’s time to bring on a new employee or contractor, and how to make that decision confidently. You’ll learn how to review your profit and loss, analyze client demand, adjust pricing, and understand cash flow so you can grow without putting your business at risk. I also share...

Are you holding your business back without realizing it? In this episode, I share a personal story of how a subtle victim mindset was sabotaging my success. I explain the difference between sitting back and hoping things work out versus taking full ownership of your results, and how shifting into an empowered owner mindset changed everything in my business and life. If you’ve been feeling stuck or...

Hiring can feel like one of the most intimidating moves you make as a business owner. In this episode, I break down how to know when it’s time to add a new employee or contractor, and how to make that decision without guesswork. You’ll hear a real-world example of how a waiting list and pricing strategy showed it was time to grow, plus why cash flow, backlog, and marketing metrics matter when plan...

Starting January 1, 2024, LLCs face a new federal requirement: Beneficial Ownership Reporting. In this episode, I break down exactly what this new rule means, why it matters, and how to stay in compliance so you avoid massive penalties. You’ll learn who must file, how the rules differ for LLCs created before and after 2024, what deadlines apply, and why this report is separate from your tax return...