SMALL BUSINESS FINANCE– Business Tax, Financial Basics, Money Mindset, Tax Deductions

Are you a business owner who feels like you’re paying too much in taxes? You’re not alone! In this episode, we dive into why millions of business owners are overpaying the IRS every year—and what you can do to stop. We’ll discuss common mistakes like only talking to your CPA once a year, missing out on proactive tax planning, and getting outdated advice.

You’ll learn why having the right tax advisor on your side can save you thousa...

Are you running a side business to escape your full-time job? The IRS has strict rules about what counts as a real business and what’s just a hobby—and getting it wrong can cost you big time! In this episode, we dive into the 9-point IRS test that decides whether your side gig is legit or just a fun pastime. 

You'll learn why it’s so important to prove your business is real, especially if you’re losing money. We’ll cover tips on ke...

Hiring new employees is a big step, but did you know it can also save you money on your taxes? In this episode, we dive into the Work Opportunity Tax Credit—a little-known but powerful federal program that rewards businesses for hiring employees from certain targeted groups, like veterans, long-term unemployed, and more. We’ll break down how this credit works, who qualifies, and how you can claim it to reduce your tax bill by thous...

Deciding whether to lease or buy equipment or a vehicle for your business can be tricky, but it's a choice that can greatly impact your cash flow and taxes. In this episode, we break down the pros and cons of both leasing and buying, helping you make the best decision for your business.

You'll learn about the tax benefits, upfront costs, and long-term implications of each option. Whether you’re a small business owner trying to deci...

In this episode, we're diving deep into the world of depreciation and how it can help you save big on your taxes as a business owner. We’ll break down what depreciation is, the different types you should know about, and the smartest ways to use it to your advantage.

Whether you're buying new equipment, considering Section 179, or exploring bonus depreciation, we'll guide you on making the best decisions for your business. Plus, we’...

In this episode, I reveal a shocking statistic: Over 23 million small businesses are overpaying on their taxes simply because they're not structured properly. If you're a business owner, there's a good chance you're one of them! I break down the common mistakes that lead to these costly overpayments and show you how to fix them. 

From choosing the right business entity to optimizing your payroll and deductions, I’ll guide you throu...

In this episode, we dive into the key components of analyzing your business profits to help you make more money and grow your success. We'll walk you through five important areas every business owner should focus on: understanding your revenue streams, breaking down costs, analyzing profit margins, calculating your break-even point, and evaluating customer profitability. 

With simple tips and real-life examples, you'll learn how ...

In this episode, we dive into what to do when you’re faced with a big financial event, like selling a business or real estate, and want to reduce your taxes. These are unique situations that don’t happen often, so it’s easy to get overwhelmed.

But don’t worry—I’ve got you covered! I’ll share 7 smart strategies to help you keep more of your money and pay less in taxes. From planning ahead and knowing when to sell, to smart investmen...

In this episode, we dive into a crucial topic for business owners: how to know if your CPA is really helping you save on taxes. I’ll share three key signs that could indicate you're overpaying the IRS and not getting the most out of your tax strategy.

We'll discuss how to spot if your CPA isn’t open to new ideas, why it’s a red flag if you only talk to them once a year, and what it means when they say paying a lot in taxes is a goo...

In this episode, we're diving deep into the world of cash flow management for small business owners. Cash is king, and it’s the lifeblood of your business. We'll explore why understanding your cash flow is crucial for growth and peace of mind.

Whether you’re in the green or struggling with cash flow, this episode will help you gain control and sleep better at night. We'll cover practical tips for speeding up cash inflows, cutting u...

Struggling with cash flow can be one of the hardest parts of running a business. In this episode, we dive into the stress of managing money and the smart ways to handle it. Learn why having business credit can be a game-changer and how to use it wisely.

I share my own story of starting a business, getting into debt, and climbing out of it. We’ll talk about different types of business loans and credit cards, and how they can help yo...

Welcome to today’s episode! We’re diving into a super important topic for business owners: bookkeeping. If keeping track of your finances feels like a chore, don’t worry—we’ve got you covered. We’ll share five reasons why good bookkeeping is essential and break down the basics to keep your business on track.

From separating business and personal finances to picking the right bookkeeping system, you’ll learn practical tips to manage...

In this episode, I share a big shift in my mindset that I've been working on for over a year and a half. It's been a tough journey, but I finally see the results of my hard work. I'll talk about how these changes have made my business and life better, even when things got really hard.

You'll hear about a recent experience that tested my patience and mindset but showed me how much I've grown. Whether you're going through a tough tim...

In this episode, we uncover big changes in the accounting world that could affect your business. Discover why many CPAs are retiring and how the shortage of new accountants is causing problems.

We talk about the rise of AI in accounting and how it might change your relationship with your CPA. Learn about the challenges of hiring skilled accountants and why smaller firms are struggling. Get tips on what to look for in a good CPA and...

In this episode, we dive into a critical decision for any business owner: choosing the right person to handle your finances. From accountants to CFOs, the person you pick can make or break your business.

We'll reveal three toxic traits you must watch out for in CPAs, so you don't get stuck with someone who's bad for your business. You'll learn why communication is key, why honesty matters, and how to spot a CPA who’s just not liste...

In this episode, we're diving into the best ways for small business owners to pay off debt. We'll talk about which debts to tackle first, whether to use cash or get a new loan, and how to avoid common mistakes.

We'll cover important tips like knowing your interest rates, loan balances, and minimum payments. Should you pay off small balances first or focus on high-interest loans? We'll break it all down! Plus, we’ll discuss smart st...

Welcome to this episode where we dive deep into how your mindset about money and taxes could be holding your business back. We explore a common but subtle issue that many business owners face: the fear of higher taxes as income grows. You'll hear a real-life example of how this mindset can limit your success.

Learn why paying more taxes isn't a bad thing and how it means you're making more money overall. We'll also talk about strat...

In this episode, I share an incredible case study of a client we helped save $117,000 in taxes for 2024! We found an error on his tax return that was costing him big time. 

By optimizing his deductions and correcting past mistakes, we turned things around. This client, a doctor with multiple businesses, had been overpaying taxes for years because no one noticed the issue. We fixed it and showed him how to use his losses effectively...

In this episode, we dive into a real-life story of how I helped a frustrated doctor save $12,500 on taxes. Tired of last-minute advice and high costs from his old CPA, this doctor came to me for help. We discovered that his partnership was set up all wrong, costing him lots in taxes. By making smart changes, like transitioning his partnership to an S-corp and streamlining his businesses, we cut his taxes and reduced his costs.

You'...