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

Hosted by Tiffany Phillips, CPA & Small Business Tax Strategist

Business Entrepreneurship

Website RSS feed LinkedIn Instagram YouTube

Episodes

423

Latest episode

Aug 2026

Language

About the show

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

Listen to episodes

60 recent

August 24, 2026Episode 10619 min

423 \\ The HSA Tax Trap: When Triple Tax Savings Cost You More

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 support your tax strategies and long-term wealth planning. The best financial tool is one that fits your health needs, cash flow, and future goals. Before choosing an HSA for the tax savings, make sure you understand the full cost. Next Steps: 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 if you want me to keep walking you through tax strategy, comment “KEEP” and I’ll get you some more information.

August 21, 2026Episode 10513 min

422 \\ Cash Flow Mistake Cost Carrie $68K Before Year-End

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. Tiffany also explains how to build a tax reserve, update estimated tax payments, and review smart year-end moves. These practical tax planning and cash flow lessons can help you make better money decisions and protect your business finance. Before you transfer another dollar, listen to this episode. Your bank balance may be telling the wrong story. Next Steps: 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 if you want me to keep walking you through this kind of year end strategy, comment RESERVE and I’ll get you some more information.

August 19, 2026Episode 10415 min

421 \\ John Passed $500K in Rentals to His Kids and Paid $0 in Taxes

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 help a property avoid probate while protecting important tax benefits. This episode breaks down the difference between equity and tax basis, why a date-of-death appraisal matters, and how to compare selling now with holding for your heirs. These tax strategies, tax planning, wealth planning, and major money decisions can shape what your family keeps. Listen before you sell, gift, or change a property deed. Next Steps: 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 If you want how inherited rental property may qualify for a reduced family’s future capital gains tax, send me the comment "BUILD", and I’ll get you some more information.

August 17, 2026Episode 10312 min

420 \\ The $2M Asset Protection Plan Every Business Owner Needs

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 protect a client’s six-property portfolio. These smart strategies can support your wealth planning, but every state has different rules. Your attorney, insurance advisor, lender, and tax professional must work together. Before another claim puts your properties at risk, listen and find the gaps in your plan. Next Steps: 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 If you want more education on how these layers work together, send me the comment "protect", and I’ll get you some more information.

August 14, 2026Episode 10214 min

419 \\ Real Estate Professional Status Explained: One Election Worth $50K+

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. Tiffany also explains the special rules for married couples, real estate employees, and older suspended losses. These tax strategies could create major tax savings, but only when your hours, records, and tax planning support them. Listen now to learn whether this powerful tax strategy could work for you. Next Steps: 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 Want a follow-up on exactly how to build a defensible hours log for this test? Comment “REPS”

August 12, 2026Episode 10113 min

418 \\ QBI Is Now Permanent: 20% Write-Off to Optimize

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 a Roth conversion could shrink your deduction. You’ll also discover why buying equipment or hiring workers just for a deduction can be a costly mistake. These practical tax tips will help you make smarter tax planning and money decisions before the year ends. Your QBI deduction may be changing while your business grows. Listen now so you can plan before it’s too late. 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! Want to see the QBI calculation walked through with real numbers? Comment "QBI" for more info!

August 10, 2026Episode 10016 min

417 \\ How $270K in Stock Losses Cut One Business Owner’s Tax by $64K

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 the final result. Listen now and learn where the opportunity—and the hidden tax trap—may be. 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Subscribe for more practical tax saving tips... Keep More! It's not what you make, it's what you keep. Ready to keep more? Comment "HARVEST" for more info!

August 7, 2026Episode 9914 min

416 \\ Self Employed Health Insurance Deduction: How It Works for S Corps & Sole Props

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 erase the deduction, including low earned income, access to an employer health plan, and missing W-2 reporting. These practical tax tips can help you improve your tax planning and avoid leaving valuable tax savings on the table. Tiffany also explains why this deduction lowers income tax but not self-employment tax. If you pay for your own health insurance, listen now—before another tax year slips away. Next Steps: 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 Want me to break down how to deduct your own coverage and stack what you keep? Comment “KEEP” and I'll help you figure it out!

August 5, 2026Episode 9813 min

415 \\ The S-Corp Salary Trap: What the IRS Is Actually Watching?

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 three ways to calculate your salary and the records you should keep. These practical tax strategies and tax planning steps can help you lower risk without giving up legal tax savings. Before you run your next payroll, learn how to choose—and prove—the right salary. Listen now before a surprise IRS letter forces you to learn the hard way. Next Steps: 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 Want me to break down how to pay yourself the right way? Comment "SALARY"

August 3, 2026Episode 9713 min

414 \\ Why the Wealthy Pay Less in Taxes - And It's 100% Legal

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 wealth transfers without relying on illegal loopholes. You will also learn why strong tax planning starts long before tax season—and how stacking several legal tax strategies can create a much bigger result. This episode offers practical CPA advice for business owners who want better tax savings, smarter wealth planning, and a stronger long-term tax strategy. Listen now and learn why keeping more starts with owning differently. 💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️ https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️ https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉 Want me to break down a strategy for your business to keep more? Comment "STRATEGY"