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

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: https://go.phillipsbusinessgroup.co...

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 real estate investor, these are decis...

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 the August Reset framework used by...

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.phillipsbusinessgroup.com/regi...

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 common mistakes, real-world examples, an...

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 tax planning. Discover practical ta...

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: https://go.phillipsbusinessgroup.com/r...

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, business finance basics, and practi...

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 you've ever felt like you're workin...

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 important tax planning insight...

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 other assets using your plan.

Th...

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 business i...

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 to make the election cor...

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 also get a c...

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 set boundaries, lead a t...

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 you actually...

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’ll also learn how ...

Most business owners don’t understand how taxes actually work. That’s why they overpay. In this episode, we break down the tax system in simple terms so you can start making smarter money decisions.

You’ll learn how income is taxed, how deductions and tax credits work, and why tax planning matters more than just filing. We also explain how different types of income are taxed and where business owners can legally r...

Most business owners focus on making money. Millionaires focus on keeping and growing it. In this episode, we break down how wealthy business owners structure their money to build long-term wealth.

You’ll learn how they use smart strategies like real estate, multiple income streams, and tax planning to grow and protect their money. We also cover wealth planning basics, entity structure, and how your financial mindset impacts ...