Today, we're diving into a topic that can make or break a business—tax planning for entrepreneurs. In this episode, we're excited to have Tiffany Vaught join us. Tiffany is not just any CPA; she's a Certified Exit Planning Advisor (CEPA®) for small business owners, the CEO of Incurio, LLP, and the co-founder of Something Artists. With her entrepreneurial spirit and extensive experience, Tiffany brings a wealth of knowledge about proactive financial planning and tax strategies that can help you navigate your business journey with confidence.
We'll discuss tax planning essentials—whether you're a sole proprietor or contemplating making an S Corp election, the significance of maintaining accurate records, and Tiffany's insights on the IRS's increasing use of AI for audits. We'll also touch on how unique income streams and expenses, like those from influencers, or complex real estate investments, play into your tax planning. So, whether you're a seasoned entrepreneur, a solo consultant, or just starting out, join us!
For additional resources, information, and a full transcript of the episode, visit our website. To access our podcast disclosure information, visit this page.
What You'll Learn in this Episode:
- How a CPA can help provide financial solutions in your business
- When to do your own accounting and when to hire a professional
- The importance of understanding basic accounting to facilitate planning and tax filings
- Why accurate and timely bookkeeping is crucial for business strategy and financial planning
- How frequently you should be checking your business books and why
- A key to long-term business stability
- The best way to improve cash flow management and mitigate unforeseen financial challenges
- How to shift your operations from hand-to-mouth to forward-looking financial health
- What you need to be strategic with cash flow management and acquiring lines of credit
- Understanding how entrepreneurs can avoid crises and optimize growth strategies
Resources Mentioned on the Show:
Stay Connected:
- Connect with Tiffany Vaught on LinkedIn, Twitter, and Instagram. Visit Encuriohq.com to learn more.
- Connect with Mary Beth on Twitter, Instagram, and on LinkedIn
- Connect with Neela on Twitter, Instagram, and on LinkedIn
- Join the Abacus community by connecting with us on Facebook, Twitter, Instagram and on LinkedIn
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Male Room with Dr. Jesse Mills
As Director of The Men’s Clinic at UCLA, Dr. Jesse Mills has spent his career helping men understand their bodies, their hormones, and their health. Now he’s bringing that expertise to The Male Room — a podcast where data-driven medicine meets common sense. Each episode separates fact from hype, science from snake oil, and gives men the tools to live longer, stronger, and happier lives. With candor, humor, and real-world experience from the exam room and the operating room, Dr. Mills breaks down the latest health headlines, dissects trends, and explains what actually works — and what doesn’t. Smart, straightforward, and entertaining, The Male Room is the show that helps men take charge of their health without the jargon.