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

How much should you pay yourself from your S corporation? Get it wrong in either direction, and it could cost you. Pay yourself too little, and you may create an IRS red flag. Pay yourself too much, and you could waste thousands in payroll taxes.

In this episode, Tiffany Phillips explains how reasonable compensation actually works. You will learn why there is no magic 40/60 rule, how to use market data to find a defensible salary, ...

A simple retirement plan could be costing you thousands in tax savings.

In this episode of Small Business Finance, Tiffany Phillips, CPA and tax strategist, breaks down the 2026 math behind a SEP IRA vs. Solo 401(k). You’ll see why the same business income can produce very different retirement contributions and tax deductions depending on the plan you choose.

Learn how employee and employer contributions work, why a Solo 401(...

Your tax bill is not decided when you file in April. Many of your best opportunities for tax savings happen before the year ends.

In this episode, Tiffany Phillips, CPA and Tax Strategist, shares five Q4 tax planning moves business owners should review now. You’ll learn why a tax projection comes first, how retirement planning can create more options, when timing income and business purchases may help, and why Accountable Pla...

Waiting until January to start tax planning could cost you valuable tax savings.

In this episode, Tiffany shares five year-end tax strategies business owners should review before key deadlines pass. You’ll learn why a tax projection should come first and how retirement contributions, equipment purchases, S corporation payroll, business expenses, and estimated payments can affect your final bill.

Tiffany also explains why your...

Are you paying your company’s bills with your own money? If you own an S corporation, your company may be able to pay or reimburse those costs without adding the money to your taxable wages.

In this episode, Tiffany explains how an accountable plan works. You’ll learn which expenses may qualify, including business mileage, phone service, travel, education, and a home office. You’ll also discover what records to ke...

Could your business structure be costing you tens of thousands of dollars each year?

In this episode, Tiffany explains how a consultant earning $1.5 million faced nearly $74,000 in self-employment and Medicare taxes. After modeling an S-Corp election and a reasonable salary, the gross employment-tax difference was about $50,000.

You’ll learn how S-Corps work, why owner salary matters, and which IRS rules you cannot ignore. Ti...

Health Savings Accounts are known for their powerful triple tax advantage. But an HSA is not the right choice for every business owner.

In this episode, Tiffany explains five situations where an HSA could cost you more than it saves. You’ll learn how high deductibles, regular medical bills, account fees, strict withdrawal rules, and unpredictable costs can weaken the benefits. You’ll also discover when an HSA can suppor...

The money in your business bank account is not always yours to spend.

In this episode, Tiffany shares how one business owner confused cash with profit—and nearly ran out of money after taking large owner draws. A hidden $68,500 tax bill and penalty left her business with a dangerously small cash cushion.

You’ll learn the three numbers every owner should track: total cash, committed cash, and truly available cash. Tiffan...

Should you sell your rental property or leave it to your children? The answer could change your family’s tax bill by six figures.

Tiffany explains how a stepped-up basis may reduce capital gains taxes when a property is inherited. You’ll learn why gifting property too soon—or adding a child to the deed—can create an unexpected tax problem. She also explains how a properly funded revocable living trust may he...

One lawsuit could put more of your rental portfolio at risk than you think. An LLC alone may not be enough.

In this episode, Tiffany explains the four layers of real estate asset protection: insurance, separate entities, privacy, and advanced legal planning. You’ll learn the difference between a claim tied to a property and one that follows you personally. Tiffany also shares how better coverage and separate entities helped p...

Your rental properties may show big losses on paper, but that does not mean you can use those losses to lower your tax bill. The passive activity rules can keep them trapped for years.

In this episode, Tiffany explains how Real Estate Professional Status works and why reaching 750 hours is not enough. You’ll learn the two tests you must pass, how material participation works, and when grouping several properties may help. Tif...

The QBI deduction can let qualifying business owners deduct up to 20% of their qualified business income. Now it is permanent—but that does not mean every owner will get the full benefit.

In this episode, Tiffany explains the new 2026 income thresholds and why service businesses face tougher rules. You’ll learn what happens when your income enters the phaseout range, how S corporations and owner pay affect QBI, and why ...

One business owner used $270,000 in investment losses to reduce his federal tax by about $64,000 in the year he sold his company. But was it true tax savings—or simply a bill moved into the future?

Tiffany explains how direct indexing and tax-loss harvesting can help offset capital gains while keeping a portfolio invested. You’ll learn how lower cost basis, added fees, investment risk, and the wash-sale rules can change...

One business owner paid $21,600 a year for family health insurance. He thought he was getting the tax deduction—but a simple S corporation reporting mistake cost him about $7,000 a year.

In this episode, Tiffany explains how the self-employed health insurance deduction really works. You’ll learn why the rules change for sole proprietors, partners, and S corporation owners. You’ll also discover three traps that can...

Is your S corp salary putting your business at risk? Many owners pay themselves a small wage and take the rest as distributions. That may cut payroll taxes, but it can also raise an IRS red flag.

Tiffany explains how the IRS decides whether your salary is reasonable. You’ll learn why the popular 60/40 rule is a myth, what happens when distributions are treated as wages, and how market data can protect you. She also shares thr...

Why do wealthy people often pay less in taxes? It is not always because they earn less. It is because they own assets and use the tax code differently.

In this episode, Tiffany explains how business owners and investors use appreciation, borrowing, depreciation, cost segregation, and step-up in basis to protect and build wealth. You will hear real examples of people who accessed cash, lowered taxable income, and planned for future ...

Your September 15 estimated tax payment may be much larger than it needs to be.

In this episode, Tiffany explains four tax strategies that can help business owners protect their cash flow and avoid costly underpayment penalties. You’ll learn how the IRS safe harbor rule works, why S corporation withholding can help correct missed payments, and how seasonal businesses can use the annualized income method.

You’ll also dis...

Many business owners work for years to build wealth but leave it exposed without realizing it. In this episode, Tiffany explains how a holding company can help protect cash, equipment, real estate, and other valuable assets from business liability. You'll learn when this strategy makes sense, how it works, common mistakes that can destroy its protection, and where tax planning opportunities may exist depending on your entity struct...

Think a cost segregation study automatically saves you thousands in taxes? Not so fast. In this episode, Tiffany Phillips, CPA, explains how cost segregation really works, who benefits most, and why a large deduction doesn't always mean immediate tax savings. You'll learn how tax strategies, passive activity rules, bonus depreciation, and timing all affect your results. Tiffany also shares when she actually tells clients not to ord...