Good Debt vs Bad Debt: Essential Tax Strategies Every Entrepreneur Must Know

Ready to master your business finances and avoid costly mistakes? In this episode of Walk In Victory, host NaRon Tillman sits down with financial expert Ronika Khanna to break down the difference between good debt and bad debt, reveal must-know tax strategies, and share the real secrets behind financial management for entrepreneurs. 

Whether you’re a solopreneur facing your first tax season or a small business owner looking to level up your financial strategy, this episode gives you the tools and mindset shifts you need. Discover how to leverage debt for growth, avoid the most common financial pitfalls, and build resilience in uncertain times. Ika also covers the impact of COVID-19 on business finances, the importance of paying yourself, and how to maximize tax credits and deductions.

💡 What You'll Learn:

• How to tell good debt from bad debt—and use it to your advantage
• Tax planning strategies that keep more money in your business
• The biggest financial mistakes entrepreneurs make (and how to avoid them)
• Navigating solopreneur finances with confidence
• COVID-19’s lasting impact on business financial planning
• Why you need a knowledgeable financial partner
• Tax credits and deductions you might be missing
• Preparing for financial uncertainty and building resilience

Perfect for solopreneurs, small business owners, and anyone who wants to build a rock-solid financial foundation. Ika’s practical insights will help you take control of your business finances and walk in victory!

⏰ TIMESTAMPS:

00:00 Introduction to Good Debt Fundamentals
00:52 Key Financial Lessons for Entrepreneurs
02:54 Expert Guest Introduction: Meet Ronika Khanna
03:06 COVID-19's Impact on Business Finances
04:54 Navigating Solopreneur Financial Challenges
09:11 Common Financial Mistakes to Avoid
14:35 Tax Planning and Strategic Approaches
20:35 Understanding Good vs. Bad Debt in Detail
25:29 Preparing for Financial Uncertainty
28:19 Conclusion and Final Financial Thoughts

🔗 Connect with Ika:

• Website:montrealfinancial.ca
• LinkedIn:linkedin.com/in/ronikakhanna
• YouTube:Montreal Financial

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🎧 Thanks for listening to Walk In Victory with NaRon Tillman!
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🔗 Stay connected:

• 🌍 Website: walkinvictory.me
• 💼 LinkedIn: NaRon Tillman
• 📸 Instagram: @walkinvictorypodcast

🙌 Your journey to intentional living, mindful entrepreneurship, and victory starts here.