Episode 6: Effective Tax Planning and Compliance

Duration: 30 minutes

In this episode, we unpack how proactive tax planning ties directly to cash flow and burn rate—two crucial metrics for any small or mid-sized business. We break down common tax obligations at the federal, state, and local levels and explore how strategic planning can prevent year-end stress and improve decision-making throughout the year.

You'll learn the difference between deductions and credits, tips for staying compliant amid changing tax laws, and practical ways to forecast tax liability using digital tools like QuickBooks, Xero, and Fathom. We also talk about entity structure, digital record-keeping, and the importance of treating tax planning as an ongoing process, not just a tax season task.

Key topics include:

Common tax obligations: income tax, payroll tax, sales tax, and more

The real difference between deductions and credits (and how to use both)Why payroll taxes carry high risk and how to stay on top of them

Setting aside 5–20% of gross revenue for taxes

Using forecasting tools and AI to stay ahead

Optimizing your entity structure as your business grows

Easy wins with digital systems for organizing and tracking expenses

Whether you're just starting out or already in a growth phase, this episode will help you build a tax-smart foundation for your business.