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

102 \\ Tax Avoidance vs. Tax Evasion: How to Stay Legal While Reducing Taxes

Can reducing your taxes cross the line into tax evasion? In this episode, we break down the difference between legal tax avoidance and illegal tax evasion so you can protect yourself and your business. Learn how to spot risky strategies, what the IRS “Dirty Dozen” list means, and how to vet the tax planning advice you receive. We also cover why documentation, good communication, and working with the right CPA are critical to staying safe while cutting your tax bill. If you want to confidently reduce your taxes without risking penalties or legal trouble, this episode is a must-listen.
 
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

101 \\ Inheriting Property? How Taxes Work on Houses, Land, and Investments

What really happens to your taxes when you inherit a house, land, or investments? In this episode, we explain how inheritance works, what a “step-up in basis” means, and why you probably won’t owe taxes if you sell quickly. You’ll also learn about estate taxes (often called the “death tax”), gift tax rules, and how trusts can play a role in reducing future tax liabilities. From understanding when taxes apply to planning strategies for high-net-worth estates, this episode helps you feel confident and clear about what to expect when receiving assets from a loved one.
 
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

100 \\ Unlock Time: How Business Owners Can Delegate, Outsource, and Grow

Feeling like there aren’t enough hours in the day? In this episode, we talk about how to reclaim your time as a business owner by delegating and outsourcing—both at work and at home. From hiring a virtual assistant and offloading repetitive business tasks to outsourcing personal chores like meal prep, cleaning, and errands, you’ll hear specific examples of how to remove tasks from your plate so you can focus on growth. Learn how to identify what you should stop doing, the mindset shift required to let go, and why doing less yourself can actually accelerate your business.
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

99 \\ Buying a Small Business: CPA Advice, Pitfalls & Smart Strategies for Acquisition

Thinking about buying a small business? In this episode, we walk through a real client’s journey of acquiring a business—from the first conversation with a seller to due diligence and final decisions. You’ll learn how to review financial records, spot red flags, and avoid costly mistakes that can derail a purchase. Discover why CPA advice is critical when checking revenue, expenses, and tax planning before signing an LOI. We cover how small business finance impacts the value of a deal, common issues like unreconciled QuickBooks records, and the importance of smart strategies to protect yourself. Whether you want to replace your job income or grow your revenue, this episode gives you a clear roadmap for making a smart acquisition and building confidence in your decisions.
 
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

98 \\ Real Estate Tax Benefits: CPA Advice on Passive Losses and Smart Strategies

Thinking about using real estate investing to lower your taxes? In this episode, we break down what high-income earners need to know about real estate tax benefits, real estate professional status, and how passive losses really work. You’ll learn why most W-2 earners can’t use real estate losses, how depreciation and cost segregation affect small business tax planning, and ways to structure investments so those deductions actually count. We also cover strategies like investing in businesses, creating active income, and how a spouse’s involvement in real estate can open the door to bigger tax savings. If you’re looking for smart strategies and CPA advice to avoid common tax traps in real estate, this episode gives you the clear picture you need before investing.
 
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

97 \\ W-9 Mistakes Every Business Owner Must Avoid: CPA Advice for Contractors

Do you really know how to handle W-9s for your contractors? In this episode, we break down exactly what business owners need to know to avoid penalties and IRS headaches. You’ll learn when to collect W-9s, why timing matters, and how incorrect forms can affect 1099 reporting and your tax deductions. We cover the IRS’s new 2024 W-9 updates, how to verify contractor tax classifications, and why keeping these forms on file protects your business. If you’ve ever wondered what your responsibility is when a contractor leaves information blank, or what “backup withholding” means, this episode clears it up. This is practical CPA advice for small business owners who want to stay compliant, avoid costly mistakes, and keep their tax records clean.
 
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

96 \\ Business Growth vs. Certainty: Mindset Shifts Every Entrepreneur Must Face

Are you holding back your business growth without realizing it? In this episode, I share a personal breakthrough about how the need for certainty can quietly sabotage your success. Through a coaching conversation, I realized that my own fear of not knowing every step was stopping me from hiring, improving processes, and scaling. We talk about how this need for control ties into mindset for entrepreneurs, why personal growth is directly connected to business growth, and how to find certainty in a healthier way so you can keep moving forward. If you’ve ever felt stuck because you want all the answers before taking action, this episode will challenge how you think about risk, growth, and what’s really holding you back.
 
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

95 \\ Stop Focusing on Savings: CPA Advice on Revenue, Cashflow & Net Worth Growth

Are you obsessing over savings goals in your business? This episode challenges that mindset. Instead of penny-pinching, learn why focusing on revenue growth, managing cashflow, and tracking your net worth will take you further, faster. I share how childhood money beliefs create a scarcity mindset, why cutting costs isn’t a growth strategy, and how shifting focus to income generation changes everything. You’ll hear three specific strategies to grow your business without being controlled by savings goals, plus why tracking net worth is a key business metric. If you’re ready to think differently about money and get CPA advice on building a stronger, more abundant business, this episode will give you a new perspective on what really moves the needle.
 
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

94 \\ Avoid These IRS Penalties: CPA Advice on Estimated Taxes and Form 2210

Are you overpaying taxes without even knowing it? In this episode, I reveal a common IRS penalty that costs business owners thousands—and how to avoid it. If you’ve ever been hit with a penalty for not paying enough tax throughout the year, this is for you. I explain how estimated tax payments really work, where to look on your 1040 for penalties, and the simple Form 2210 adjustment that can reduce or even eliminate them using the annualized income method. You’ll also learn why many CPAs miss this step and how to make sure yours is saving you money instead of letting you overpay. Don’t let penalties eat away at your hard-earned revenue—tune in to learn how to keep that cash in your business.
 
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

93 \\ Stop Overpaying Taxes: CPA Advice on Deadlines, Estimates & Avoiding Penalties

Tax deadlines can feel overwhelming, but missing the details can cost you big. In this episode, we break down what every business owner needs to know about filing dates, estimated tax payments, and how to avoid costly IRS penalties. Learn why setting aside money throughout the year matters, how the IRS calculates underpayment penalties, and how to use Form 2210’s annualized income method to reduce them. We talk about extensions (and what they don’t cover), payment plans, and strategies for staying ahead of tax season so cash flow doesn’t get derailed. If you want practical CPA advice on managing tax deadlines without overpaying or getting blindsided by penalties, this episode gives you a clear plan to keep more of your money in your business.
 
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