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

In this popular episode of the Small Business Finance podcast, Tiffany walks through five essential tax savings strategies every small business owner and entrepreneur should know. You’ll learn how to take advantage of business use of home deductions, the benefits of paying your kids legitimately through your business, and how to handle self-employed health insurance. Tiffany also explains how to m...

In this episode, Tiffany breaks down nine practical steps small business owners can take before year-end to reduce tax season stress. Learn why e-filing your return matters, how filing early helps, and what to do now with charitable donations, retirement contributions, and deductible business purchases. Tiffany also explains the importance of tracking estimated taxes, using IRS resources, deciding...

In this episode of the Small Business Finance podcast, Tiffany answers a listener’s question about whether having two rental agreements—one for a commercial kitchen and one for a home office—could trigger IRS red flags. She explains the Augusta loophole, how it differs from the standard home office deduction, and when it’s legitimate to rent your home to your business for planning meetings, traini...

In this episode, Tiffany explains how to tell if your CPA is helping you grow—or holding you back. She covers seven signs you need a modern tax pro, including whether your CPA understands your business, provides personalized strategies, goes beyond bookkeeping to tax planning, and leverages technology like forecasting and AI. You’ll also learn why a modern firm’s expertise, broad experience, and u...

Thinking about buying or investing in a business? In this episode, Tiffany walks through what most people overlook when evaluating a business purchase. Learn how to assess whether a business is a smart investment, why “cash to seller” matters, how employee count affects whether it’s hands-off or hands-on, and why aligning the business with your skills or existing operations is crucial. Tiffany exp...

Are you losing thousands of dollars each year without even knowing it? In this episode, Tiffany explains why small businesses often overpay vendors by up to 10% and what you can do to stop it. Learn the five main causes of overpayments—from poor reconciliation and duplicate vendor names to data entry mistakes and missing credits—and how to set up systems that catch errors before they cost you. Tif...

Selling a business, property, or other investment and worried about a massive capital gains tax bill? In this episode, Tiffany explains how Opportunity Zones work and why this little-known strategy can defer, reduce, or even eliminate your capital gains tax entirely. You’ll learn what an Opportunity Zone is, where to find them, and the strict rules you must follow to qualify for these tax breaks....

This episode dives into one of Tiffany’s favorite tax strategies—the Augusta Loophole—and why so many business owners get it wrong. You’ll learn how renting your home to your business for meetings, planning sessions, or training can create a powerful tax deduction, and the exact steps you must follow to keep it audit-proof. Tiffany covers the five biggest mistakes owners make: skipping a rental ag...

If you’re a small business owner who only looks at your numbers at tax time, you’re probably overpaying the IRS. In this episode, Tiffany explains why ignoring your finances is a costly mistake and shows you how to fix it before year-end. Learn why keeping clean financial records matters, why a separate business bank account is non-negotiable, and how to track your revenue and expenses monthly—eve...

If you own rental properties but your passive losses are stuck on your tax return because you earn too much to use them, this episode is for you. Tiffany explains a straightforward strategy that lets high-income business owners and investors unlock those losses and put them to work. She breaks down how adding your spouse as a passive minority owner in your business—or investing in a separate busin...

Feeling like taxes are eating away at everything you earn? You’re not alone—and it’s not just the IRS. In this episode, Tiffany talks straight about why so many small business owners end up overpaying in taxes year after year. She shares real-world examples of entrepreneurs who handed over their financial control and paid the price, explains why you can’t just assume your CPA or bookkeeper will ca...

Nobody wants to hear from the IRS. In this episode, Tiffany lays out six of the most common red flags that can trigger an audit and what you can do to avoid them. From simple math mistakes and mismatched 1099 income, to cash-heavy businesses, talking too much, unusual deductions, and shady tax preparers—she breaks down how the IRS looks at these issues and how to protect yourself. If you want to s...

When it comes to taxes, timing matters more than most business owners realize. In this episode, Tiffany breaks down whether you should file your taxes early, right on time, or hold out until the final deadline. You’ll learn the real advantages of early filing (like faster refunds and less stress), why some taxpayers wait, and how your filing date can even affect your chances of getting audited. Ti...

In this episode, you’ll learn actionable ways to cut your tax bill before the year ends. We cover key tax strategies for small business owners, including when it makes sense to buy a business vehicle, invest in equipment, prepay expenses, or delay income. You’ll also hear about how Section 179 and bonus depreciation work, why timing matters for tax deductions, and how smart planning can reduce you...

In this episode, we break down the IRS’s sudden freeze on processing Employer Retention Credit (ERC) claims and what it means for small business owners. You’ll learn why the IRS is cracking down on ERC fraud, how to know if your business truly qualifies, and the three main criteria used for eligibility. We discuss the risks of working with aggressive ERC companies, how to handle existing claims, a...

In this episode, I’m sharing why so many small business owners are overpaying taxes and what to do about it. Most CPAs just file your return—they don’t focus on tax reduction or smart strategies. That’s why I’ve built a new DIY course launching October 1st designed to teach small business owners how to maximize deductions, lower their tax bills, and confidently talk to their CPA about tax planning...

Are you ready if the IRS comes knocking? In this episode, we break down exactly what documentation you need to protect your deductions and your business in case of an audit. Learn what the IRS considers proper evidence, why bank statements aren’t enough, and how to handle receipts, mileage logs, invoices, and meals and entertainment records. We also cover common mistakes small business owners make...

Thinking of buying a business vehicle? This episode breaks down Section 179, bonus depreciation, and IRS rules for vehicles over 6,000 lbs—and how to use these deductions to reduce your taxable income. Learn the difference between vehicles under 6,000 lbs, 6,000–14,000 lbs, and heavy equipment over 14,000 lbs, what qualifies as business use, and how bonus depreciation has changed in 2023. We cover...

Investing in real estate can bring big tax benefits—but only if you know how to use them. In this episode, we unpack the truth about real estate tax losses and why so many investors get caught in tax traps. Learn the key differences between passive and non-passive income, the $25,000 loss limitation, how high earners lose out on deductions, and strategies like self-rental, grouping, and qualifying...

Are self-employment taxes eating up your income? In this episode, we break down the taxes small business owners face—including self-employment tax, payroll tax, capital gains, and ordinary income tax—and why running a business is very different from being an employee. You’ll learn how self-employment tax works, why new business owners get blindsided by tax bills, and why strategies like S corporat...

Learn the top five tax deductions and tax savings strategies every small business owner should be using. In this episode of Small Business Finance, Tiffany explains how to take advantage of the home office deduction, pay your kids through the business, deduct self-employed health insurance, track startup and organizational costs, and make sure you’re claiming every ordinary and necessary expense....

Confused about how to pay yourself from your small business? You’re not alone. In this episode, we break down the right way to take money out of your business, why draws and transfers work differently than payroll, and the mistakes new business owners make that can wreck their finances and taxes. Learn why separating business and personal accounts is essential, how to know how much you can safely...

Losing your spark as a business owner? You’re not alone. In this episode, I share how I pulled myself out of a long season of feeling stuck in my business and personal life—and how you can do the same. From getting uncomfortable on purpose, trying new hobbies, and making space for creativity, to working with a coach, meditating, and redefining what you want your business to look like, these strate...

New business owners often underestimate how much they need to set aside for taxes. This episode breaks down exactly how to prepare for IRS estimated payments so you’re never caught off guard. Learn the basics of setting aside funds for federal income tax and self-employment tax, how to calculate your tax bracket, why a separate bank account for taxes is critical, and when you actually need to star...

Thinking about starting a business but confused about LLCs? This episode covers everything you need to know before you file. Learn why LLCs matter for protecting your personal assets, the right way to separate business and personal finances, and how to avoid the common mistake that makes your LLC useless in a lawsuit. We also cover how to form an LLC in your state, when you might need an attorney,...