SMALL BUSINESS FINANCE – Your Guide to Business Tax Planning & CPA Tax Advice
Stop Overpaying Taxes by $50K-$100K+ Every Year | The #1 Podcast for Women Entrepreneurs & Business Couples Who Want to Keep More of Their Hard-Earned Money Are you a successful woman entrepreneur or part of a husband-wife business team tired of watching 30-50% of your profits disappear to taxes? Fed up with CPAs who act more like tax preparers than strategic partners? Ready to discover the same tax strategies that save my clients an average of $97,398 annually? You’ve found your financial freedom headquarters. This isn’t another generic small business podcast. This is where ambitious entrepreneurs learn the insider tax strategies, financial systems, and money mindset shifts that transform six and seven-figure businesses from tax victims into wealth-building machines. What You’ll Discover: ✅ Advanced tax strategies most CPAs never mention (legally reduce taxes by 30-50%) ✅ How to audit-proof your business while maximizing deductions ✅ Financial systems that scale with your growing business ✅ Money mindset breakthroughs that unlock your wealth potential ✅ Real client case studies: $45K, $63K, $97K+ in annual tax savings ✅ Business structure optimization (LLC vs S-Corp vs Corporation) ✅ Cash flow management for sustainable growth Perfect for: Women business owners, female entrepreneurs, husband-wife business teams, six-figure earners, seven-figure business owners, real estate investors, professional service providers, e-commerce entrepreneurs, and anyone tired of overpaying the IRS. Meet Your Host: Tiffany Phillips, CPA & Tax Strategist For over 20 years, I’ve been the secret weapon behind successful entrepreneurs who legally keep more of their money. As a CPA and tax strategist (not just a preparer), I’ve helped clients save hundreds of thousands in taxes using my proprietary 85-point tax strategy system. My mission? Empower women entrepreneurs and collaborative business couples to stop overpaying taxes and start building real wealth. I’m here to challenge the ”good old boys club” of traditional accounting and give you the respect, partnership, and results you deserve. Why This Podcast Exists: Too many brilliant entrepreneurs—especially women—are being underserved by traditional CPAs who focus on compliance instead of strategy. You’re not looking for someone to just file your taxes; you want a partner who helps you keep more money, grow faster, and build generational wealth. Ready to Transform Your Financial Future? If you’re done accepting ”that’s just what you owe” and ready to implement proven strategies that put thousands back in your pocket, this podcast is your roadmap to financial freedom. New episodes weekly featuring actionable tax strategies, financial systems, mindset shifts, and real success stories from entrepreneurs just like you. Next Steps: 💰Pay Less in Taxes – https://yourbiggestexpense.com/ ☎️ Find out how much you’re overpaying in taxes every year! Schedule a FREE discovery call to find out --＞ https://phillipsbusinessgroup.com/ 📧 Contact Me --＞ hello@phillipsbusinessgroup.com
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Episodes
Thursday Jun 13, 2024
Thursday Jun 13, 2024
In this episode, I answer a listener’s question about whether their business qualifies as “legitimate” in the eyes of the IRS—and what that actually means when it comes to tax deductions. We cover:
The difference between active and passive income and why it matters
How the IRS evaluates whether your business is a true business vs. a hobby
Nine key factors the IRS looks at to determine legitimacy
Why lending money and earning interest can still be a valid business model
What you need to document (time spent, operations, records) to protect yourself in an audit
If you’ve ever worried about whether your business activities “count” or if you can write off your expenses, this episode gives you the clarity to avoid problems and position yourself for the deductions you’re entitled to.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Monday Jun 10, 2024
Monday Jun 10, 2024
In this episode, I walk through a real case study of a client facing over a million dollars in business losses and explain how to turn a massive capital loss into a long-term financial recovery plan.
You’ll learn:
What really happens when you’re stuck with a huge capital loss
Why the $3,000 annual deduction limit feels useless (and how to work around it)
How to match future capital gains with current capital losses
Creative ways to use stock options, investments, and real estate strategies to “eat up” these losses
How to approach a 5–10 year recovery plan when business or investment bets go wrong
If you’ve ever wondered whether there’s a way to bounce back after a failed business, a bad franchise, or a major market loss, this episode shows you the practical tax and planning strategies to start rebuilding.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Thursday Jun 06, 2024
Thursday Jun 06, 2024
In this episode, I break down one of the biggest questions business owners face:“How much should I pay myself in salary, and how much can I take as a distribution?”
We cover:
What “reasonable compensation” actually means (and how the IRS looks at it)
Why guessing your salary is risky—and how to calculate it the right way
The benefits of keeping your salary as low as justifiable to reduce payroll taxes
How distributions work, when you can take them, and why they aren’t taxed twice
How to handle cash flow and tax payments using distributions
The mindset shift needed when moving from employee to owner
If you’re an S-corp owner, stop winging it when it comes to paying yourself. Learn how to protect yourself from IRS scrutiny and optimize your take-home cash without paying unnecessary taxes.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Monday Jun 03, 2024
Monday Jun 03, 2024
In this episode, learn exactly what happens if you miss an estimated tax payment and how to fix it fast. Forgetting these payments can cost you in penalties and interest, but there are smart strategies to get back on track. We cover when estimated taxes are required, what to do if you’ve missed a deadline, and how to plan ahead so you’re not caught off guard. You’ll also hear tips for cash flow management, tax planning for small business owners, and how to use a CPA to stay ahead. If you’re serious about managing your business tax and avoiding costly mistakes, this episode breaks it down simply and clearly.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Thursday May 30, 2024
Thursday May 30, 2024
In this episode, you’ll hear real case studies where CPA mistakes cost business owners tens of thousands of dollars—and how to avoid the same trap. Learn why unclaimed deductions, missed strategies, and poor planning lead to lost tax savings, and how regular conversations with a CPA can help you protect your money. From real estate professionals to medical business owners, these examples show the importance of tax planning and smart strategies. You’ll also get actionable tips for reviewing your tax returns, using equity properly in your business, and knowing when it’s time to switch CPAs. If you’re serious about small business tax savings and keeping more of what you earn, this episode is for you.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Monday May 27, 2024
Monday May 27, 2024
Paying your kids through your business can be a powerful tax strategy—but only if it’s done correctly. In this episode, you’ll learn the right way to hire your children, what tasks they can legally do, and how to document their work so the IRS allows the deduction. We cover age-appropriate roles, payroll rules, tracking hours, and how to pay fair market wages that hold up in an audit. You’ll also get practical examples of legitimate tasks kids can do—from office cleanup to social media help—and how this strategy shifts income into a lower tax bracket. Done right, it reduces your taxable income and teaches your kids responsibility at the same time.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Thursday May 23, 2024
Thursday May 23, 2024
Not sure if you’re ready to start tax planning? This episode breaks down how to know when it’s time to move beyond tax preparation and into tax reduction strategies. Learn the difference between tax compliance and proactive planning, why clean financial records are essential, and what income levels make tax strategies worthwhile. You’ll hear clear guidance on how business owners can legally reduce taxes, keep more money in their pockets, and avoid overpaying year after year. If you’re ready to protect your profits and build a stronger business tax plan, this episode shows you exactly where to start.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Monday May 20, 2024
Monday May 20, 2024
High-income professionals often miss out on the Qualified Business Income (QBI) deduction because they don’t understand how it works once income exceeds IRS thresholds. This episode explains how QBI reduces taxable income by up to 20% for eligible businesses, what counts as qualified income, and how income caps change the calculation. You’ll learn strategies to optimize your deduction if you earn over the limits, including adjusting W-2 wages in an S corporation and aligning your tax planning with retirement contributions and overall wealth goals. The focus is on smart, legal planning that lets business owners reduce taxes and build wealth.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Thursday May 16, 2024
Thursday May 16, 2024
Are you getting 1099 income in your personal name even though you have an S corporation? This common mistake can trigger IRS audits, self-employment tax, and penalties. In this episode, you’ll learn how to handle 1099 payments the right way, when to push vendors to pay your business directly, and what to do if that’s not an option. We cover the Fleischer case, why an employment agreement between you and your S corp matters, and how to document everything to stay in compliance. Whether you’re a real estate professional, financial advisor, influencer, or small business owner, this episode shows you how to properly route income, avoid unnecessary taxes, and protect yourself from an IRS nightmare.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa
Monday May 13, 2024
Monday May 13, 2024
In this episode, discover seven powerful investment strategies that help business owners legally slash taxes while building long-term wealth. From traditional IRAs and 401(k)s to HSAs, donor-advised funds, and the tax advantages of owning a business, you’ll learn how to leverage the tax code to keep more of your hard-earned income. We also cover real estate investing and the little-known benefits of oil and gas investments for significant tax reductions. Whether you’ve just started growing your income or are facing a big tax bill, these strategies can help you minimize taxes, protect cash flow, and grow your net worth year after year.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> hello@phillipsbusinessgroup.com
📲 Follow me on IG @ the.tiffany.p.cpa