Tiffany Phillips CPA public
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SMALL BUSINESS FINANCE– Business Tax, Financial Basics, Money Mindset, Tax Deductions

Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert

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Are you unsure of what to do with your business finances? Are you scared you might do something that causes the IRS to come after you? Do you lack confidence in knowing if what you’re doing is correct? Are you desperate for answers for all of your financial questions? In this podcast, you will find financial knowledge and systems to set you free from the mass confusion of small business finances. My mission is to help equip you to have a financially successful small business through financia ...
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In this eye-opening episode, discover why traditional savings goals might actually be hindering your business growth. Host Tiffany challenges conventional wisdom, urging entrepreneurs to shift focus away from penny-pinching and toward revenue growth, cash flow management, and increasing net worth. Drawing from personal experience and practical insi…
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Discover the hidden truth about IRS penalties in this eye-opening episode of our finance podcast. If you're a business owner, you might be unknowingly overpaying taxes due to penalties for underpayment throughout the year. Learn how to identify, avoid, and minimize these penalties, potentially saving yourself thousands. We delve into the little-kno…
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Get ready to tackle tax season like a pro! In this episode, we dive into the nitty-gritty of business taxes, answering burning questions like how much to set aside and when to pay in. We reveal the shocking truth about penalties for underpayment and provide expert strategies to ensure you're not overpaying the IRS. Learn how to navigate tax deadlin…
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Unravel the mysteries of S Corporation finances in this eye-opening episode! Join us as we dive deep into the world of S Corp taxation and equity distributions. Learn how to navigate the complexities of getting money out of your business while maximizing tax advantages. Discover the importance of paying yourself a reasonable compensation and the in…
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Discover the intriguing world of C corporations in this eye-opening episode. Host [Your Name] navigates the complexities of business entity structures, debunking myths and revealing surprising truths. Dive into the 21% tax rate allure, but beware the potential pitfalls of double taxation and equity entanglements. Uncover strategies to leverage C co…
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Get ready to become a tax return detective with our newest podcast episode! We're diving into the world of tax returns and uncovering the secrets to making sure yours is spot-on. Ever wonder if you're missing something important on your tax form? Worry no more! You'll learn how to check your return like a pro CPA, spotting those sneaky errors and k…
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In this eye-opening episode, we delve into a common mistake many small business owners make: relying solely on their bank account balance to gauge success. We uncover why this approach is flawed and how it could be hindering your business growth. From mismatched profit and loss statements to hidden expenses, we explore the discrepancies that often …
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In this episode, we debunk the common misconception that electing S Corporation status is always the best move for small businesses. Host, Tiffany Phillips, dives into the pitfalls of blindly following this advice, outlining five key scenarios where choosing an S Corp could actually harm your finances. From tax liabilities on real estate to restric…
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In this episode, we delve into a treasure trove of 28 innovative ways to slash your small business taxes. From startup costs to employee benefits, we uncover deductions you may have never considered. Hosted by Tiffany Phillips, a seasoned finance expert, this podcast equips small business owners with essential strategies to maximize tax savings leg…
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In this insightful episode, CEO Tiffany candidly shares the valuable lessons she's learned during her eight-year journey as a business owner. From embracing a growth mindset to delegating tasks effectively, she reflects on five key mistakes she made along the way and how she turned them into learning opportunities. Tiffany emphasizes the importance…
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Are you thinking about making your LLC an S Corp? This episode is just what you need! We're unpacking all the must-know details about S Corp elections, how to stay on the IRS's good side, and what to do if you find out you've missed a step. If you're in a community property state, we've got a hot tip that could save you from tax troubles. Plus, we'…
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Ready to save big on taxes? Tune in to hear how one client saved over $30,000! We'll reveal how smart financial moves and understanding your business can lead to huge savings. Learn about S corporation strategies, smart distributions, and how to handle excess basis to keep more money in your pocket. Whether you're a seasoned business owner or just …
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Get ready to tackle tax time like a pro! In this episode, we're diving into the big questions of filing taxes for your business: To extend or not to extend? Should you file early or wait until the last second? Discover the perks of getting your taxes done ahead of time and find out if waiting until the last minute is really the risk some people say…
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In today's episode, we're getting real about the sneaky ways we might be holding ourselves back in business without even realizing it. I'll share some personal stories of my own "aha" moments and how I moved from feeling stuck to taking control. We'll explore how to spot the signs of self-sabotage and the powerful shifts that can happen when we ste…
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Get ready to dive into the big question every growing business faces: When's the right time to hire? 🌟 In this episode, we chat about all things hiring - from figuring out if you need an extra hand to making sure your cash flow can handle it. We'll walk you through real-life scenarios, share personal stories, and give you smart tips to decide if it…
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In this must-listen episode, we dive into the brand-new 2024 rules for LLCs: the Beneficial Ownership Reporting. We know it sounds like a big deal, and it is, but don't stress! We're here to break it all down for you in simple steps so you can stay on top of things and avoid those scary penalties. Whether you've had your LLC for a while or just sta…
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In this episode, we dive into a real-life question from a listener about how to pay themselves in a Partnership LLC. We explore the ins and outs of drawing a salary, the role of operating agreements, and the concept of guaranteed payments. Whether you're new to business or looking to streamline your finances, we break down the complexities into eas…
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In this enlightening episode, we dive into the fascinating world of the six human needs and how they're secretly shaping your business success. Coined by Tony Robbins, these needs influence everything we do, sometimes without us even realizing it! From childhood influences to our quest for certainty and significance, we explore how these deep-roote…
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In this eye-opening episode, we dive into a common yet sneaky mistake many business owners make—overpaying in taxes by paying themselves too much salary. It's easy to fall into this trap without even realizing it, but don't worry, we've got your back! We'll explore what overcompensation is, how it leads to unnecessary tax payments, and most importa…
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Ready to keep more of your hard-earned money away from taxes? This episode dives into the secrets of the tax code, especially for the high rollers without a business. We're unpacking why owning a business is key to slashing taxes and sharing real stories from high earners like you who've turned the tide on their tax bills. Discover how starting a b…
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Get ready to dive deep into the unseen parts of your business that are key to your growth and abundance! In this eye-opening episode, we explore how mindset and emotions secretly shape your business success. You'll hear personal stories and insights on intertwining personal growth with professional progress, and why it's essential to master both. L…
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In today's episode, we dive into the often confusing world of payroll taxes. We cover everything from FICA and FUTA to Medicare taxes and the unique aspects of self-employment taxes. Whether you're a new business owner or just looking to better understand how payroll taxes work in 2024, this episode has got you covered! We break down the complexiti…
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In this must-listen episode, we dive into the crucial world of business taxes and how you might be paying more than necessary. It's 2024, and it's time to take control! We'll explore four common reasons why businesses often overpay in taxes. This episode isn't just about numbers; it's about empowering you, the business owner, with knowledge and str…
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Get ready for an essential update on the Tax Relief for American Families and Workers Act of 2024! In this episode, we're diving into the upcoming tax changes that might impact you and your business. We'll explore the key highlights of the new bill, including adjustments to child tax credits, R&D expenses, and much more. Whether you're a working pr…
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Welcome to our latest podcast episode, where we explore a crucial but often overlooked aspect of business success: your mindset. In this episode, we delve into how the unexamined 'rules' in our minds can impact our business goals and growth. We'll share real-life examples and personal experiences that highlight the importance of challenging and red…
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In this insightful episode of our podcast, Tiffany, a seasoned financial expert, delves into the world of real estate investment, offering invaluable advice for investors grappling with passive losses and seeking tax deductions. Focusing on strategies that enable investors to capitalize on these losses, Tiffany shares her expertise in navigating th…
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In this super helpful episode, Tiffany tackles a big question many small business owners have: Are you paying too much tax? If you're worried about this, you're not alone. Tiffany explains how you can figure out if you're overpaying and what you can do about it. She shares insights into smart tax planning, not just as a year-end rush, but as a year…
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In this must-listen episode, Tiffany shares five super-helpful tips to get your business finances on track for a fantastic 2024. Starting the year right is key to success, and Tiffany makes it easy and straightforward. You'll learn the importance of separating personal and business expenses, setting up a simple system to keep track of your finances…
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In this exciting episode of our podcast, we dive into four big things you should stop doing right now to avoid staying broke. These are simple, yet powerful habits you might not even realize are holding you back from reaching your financial goals. As we step into 2024, it's time to leave these habits behind! Join Tiffany, your friendly guide to sma…
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In today's show, we're talking about a big question for people who run small businesses—how they should get paid. It doesn't matter if you're running the business by yourself or with others; we're here to help. We'll explain how to take money from your business, answering questions like when to do it, how much to take, and why it's important to kee…
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In this episode, we unravel the complexities surrounding the business use of the home deduction—a game-changer for entrepreneurs working from home. Get ready to discover the ins and outs of maximizing your savings while avoiding common pitfalls. Our expert discussion covers five prevalent myths about the home deduction that every small business own…
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Are you not sure how to get 2024 off on the right foot for your business? Is the thought of setting goals daunting and you're not sure how to set them so they are effective and achievable? On today's episode, I share how I'm setting my own business goals in the new year and the steps to make sure you set the ones for your business. I go through the…
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What is the best way to utilize personal credit lines inside your business? It can be smart to use personal credit, but there are some downsides you need to be aware of. In today's episode I share insights on the best way to leverage personal credit, the best way to do so, and why building business credit might be better for your business in the lo…
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I've found that the biggest obstacles to growth in my own business isn't anything tangible - things I can touch, feel or taste. The obstacles are usually mental. Today I share some of my own business journey with overcoming money mindset issues and some of my biggest takeaways in business that will be sure to help you grow your business in 2024. Ti…
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I've found that the biggest obstacles to growth in my own business isn't anything tangible - things I can touch, feel or taste. The obstacles are usually mental. Today I share some of my own business journey with overcoming money mindset issues and some of my biggest takeaways in business that will be sure to help you grow your business in 2024. Ti…
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In today's episode I discuss 7 tax savings strategies for you to implement now so that your taxes are as low as possible for 2023. These tax strategies will help you get your taxes as low as possible before time runs out at the end of the year. Tiffany Next Steps: 💰 Join the Tax Savings Institute: http://taxsavingsinstitute.com 💲 Struggling with yo…
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In today's episode I give some tips and tricks about how I'm navigating the busy, holiday season, which tends to create overwhelm and stress if we aren't careful! I realized I needed a reminder on how to get through these next few weeks, and that you likely did too. So, I'm sharing a few tips on how to make sure you navigate the end of year busynes…
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Are you a small business owner trying to navigate the IRS requirements for receipts and other documentation they require to deduct your expenses? Are you wondering if you're at risk for an audit because of your records, or lack of records? Are you unsure of what to do to eliminate having an issue with the IRS on your next tax return? If so, listen …
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Are your small business finances the last thing you want to think about? Are your finances all but completely ignored until the end of the year when you're getting ready to file tax return? Are you overwhelmed with your business finances? If so, this is the episode for you! Today I discuss the top 3 tips for small business owners to organize their …
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Hey there! Today we're discussing a question I hear often - "how do I pay myself as an entrepreneur and get money out of my business?" This one comes up all the time, so I know it's likely something you're struggling with in your small business as well and I want to make sure you get it fixed ASAP! Be sure to listen, take notes, and then share with…
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Are you unsure what the heck capital gains even are? Or what is a K1 and how does that impact your personal taxes? Are you a small business owner trying to navigate health insurance and its tax implications for you? If so, this is the episode for you! Today I answered a listener's questions answering all things capital gains tax, pass-thru entities…
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Hey Friend, Today I am answering a question from the community. "Tiffany, what tax deductions should I definitely be taking in my business that I might not be taking on my tax return now? Help!" I love this question so much because it's important to make sure you're paying the right amount of tax, but not more than that! So, I share the deductions …
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If preparing or having your taxes prepared is stressful to you, today's episode will offer helpful tips to take the stress out of your business taxes. In today's episode, I share 9 tips to reduce the stress surrounding your taxes so your 2023 taxes aren't as overwhelming. I hope you enjoy the episode! Tiffany Next Steps: 💰 Join the Tax Savings Inst…
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If you've been on social media at all, consuming content related to your business finances and taxes, you've probably heard about the Augusta Loophole strategy. Unfortunately, many small business owners don't implement this strategy properly, which leaves you at risk of an audit. In today's episode, we discuss the Augusta Loophole tax strategy and …
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Are you thinking about switching CPAs and not sure what to look for? Are you concerned about finding someone who is a good fit for you and your business that will help you make good business decisions? If this is you, I share my top tips today to make sure you are able to make the best decision when finding a new CPA or tax preparer. I hope you enj…
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Are you thinking about buying a business to operate or invest in? Are you concerned about making a fatal mistake investing in a business and losing your money in the process? If this is you, I share my top tips today to make sure you are able to make the best decision when investing in a business. I hope you enjoy the episode! Tiffany 🎧 Listen to E…
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Are you one of the many business owners that Forbes said are overpaying their vendors by 10% each and every year? Are you unknowingly bleeding money from your business and just have no idea how to figure it out? Today I talk about a very common way you're losing money every year and what to do about it. I hope you enjoy the episode! Tiffany Next St…
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Are you getting ready to sell your business or an investment and you're worried about the tax impact? Are you concerned that most of your proceeds from the sale will be taken from the IRS, leaving you wondering if you should sell or not? If so, on today's podcast, I have a great tax strategy to help you keep more of your money when selling your inv…
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Are you a small business owner who is worried about overpaying the IRS every year? Are you watching Tik Toks and IGs getting half information and trying to implement them on your own, hoping to reduce your taxes? If so, you're likely not implementing your tax strategies properly. Today I share the 3 top mistakes I see when implementing my favorite …
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Are you a small business owner who is worried about overpaying the IRS every year? Do you want to keep more of your money instead of sending it off to the IRS in the form over tax overpayments? Do you struggle with understanding the best way to track your finances so you pay what you owe to the IRS and nothing more? Today I spill the tea on what to…
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