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

Tiffany Phillips, CPA & Small Business Tax Strategist

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

Subscribe Listen in podnod RSS feed Show website

414 episodes
Updated Friday

Episodes414

Newest first

Jan 13, 2025 · 15 min
173 \\ 5 Smart Tax Strategies to Legally Cut Your 2025 Taxes
Start 2025 with a clear tax strategy. In this episode, you’ll learn the five essential steps every business owner should take to legally reduce taxes and keep more of their hard-earned money. From choosing the right business structure to paying your kids, using retirement plans, capturing every deduction, and leveraging investments, these strategies will help you stop overpaying and take control of your finances. If you’ve never done tax planning before—or if it’s been a while—this is your starting point for a smarter approach to business tax and tax reduction. Tax planning isn’t something you do at tax time; it’s a year-round process. Listen now to start 2025 prepared and focused on real savings strategies. 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
Jan 9, 2025 · 18 min
172 \\ 3 Financial Mistakes Keeping Small Businesses Broke in 2025
2025 is here, and it’s time to take control of your small business finances. In this episode, we dig into the top three mistakes business owners make that keep them broke year after year—and exactly how to fix them. You’ll learn why timely bookkeeping matters, how to handle receipts and financial records so you’re audit-ready, the right way to manage quarterly estimated taxes, and why proactive tax planning is critical if you want to protect your cash flow. Whether you’ve been falling behind on your books, skipping estimated payments, or working with a tax professional who isn’t helping you save, this episode will give you clear steps to start fresh and build a stronger financial foundation. Make 2025 the year you finally stop leaving money on the table and start running your business like a pro. 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
Jan 6, 2025 · 15 min
171 \\ Bench Accounting Collapse: Protect Your Business Finances in 2025
When Bench Accounting suddenly shut down at the end of 2024 and was scooped up by private equity days later, thousands of business owners were left scrambling for their financial records. In this episode, we unpack what happened, why so many businesses were caught off guard, and what this takeover means for you. More importantly, you’ll learn how to protect yourself from ever being in this situation: keeping copies of your tax returns, making sure you have access to your bookkeeping systems, and setting up processes to secure your data no matter what happens to your accounting firm. If you rely on an outside provider for bookkeeping or accounting, this episode will help you take control and safeguard your finances so your business isn’t vulnerable to sudden closures or chaos. 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
Jan 2, 2025 · 26 min
170 \\ Lessons and Gratitude from 2024: Wins That Will Inspire Your 2025
This episode is a pause to reflect on 2024 and the lessons, wins, and gratitude that shaped the year. From reaching 110,000 podcast downloads to personal health breakthroughs, building clarity in business, and creating a stronger team culture, I share the key things I’m thankful for and why they matter going into 2025. You’ll hear how focusing on gratitude, improving leadership, and letting go of overwhelm can change everything—not just in your finances, but in every part of your life. This isn’t about tax tips or strategies today; it’s about perspective. As we move into the new year, use this as inspiration to slow down, appreciate where you are, and build a plan for where you want to go next. 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
Dec 30, 2024 · 22 min
169 \\ How to Spot If Your CPA Is Hurting You (Not Helping) in 2025: Part 2
In Part 2 of this series, we continue the deep dive into how to tell if your CPA is really on your side—or silently playing for Team IRS. Building on Episode 168, this episode gives you three more powerful questions to ask when you’re hiring a CPA or assessing your current one. You’ll learn why mindset matters, how to tell if they think strategically about tax planning, why a clear, written tax strategy (not just vague advice) is a must, and why it’s critical that your CPA collaborates with other professionals like lawyers and financial advisors to minimize your taxes. If you’re serious about tax reduction, smarter money decisions, and building the right financial team in 2025, these are the questions that can make or break your results. 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
Dec 26, 2024 · 18 min
168 \\ How to Spot If Your CPA Is Hurting You (Not Helping) in 2025: Part 1
Most business owners believe payroll is their biggest expense, but the truth is it’s taxes—and the wrong CPA can cost you far more than you realize. In this episode, you’ll learn why your CPA might be unknowingly working against you and how to tell if they’re truly helping you reduce your tax bill. I break down three crucial questions to ask your tax professional to find out if they’re on Team IRS or Team Taxpayer. You’ll hear why quarterly meetings matter, why knowing exactly how much they save clients each year is key, and why they should be able to explain proven strategies to legally reduce taxes. If you’re ready to stop overpaying and start building a tax strategy that works, this episode will give you the clarity and direction you need for 2025. 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
Dec 23, 2024 · 23 min
167 \\ 3 Things You Must Do to Grow Your Small Business in 2025
Growth doesn’t happen by accident. As 2024 wraps up, it’s time to get intentional about how you’re going to grow and lead your business in 2025. In this episode, I share the three key actions I’m taking to set up a strong new year—and how you can apply them in your own business. You’ll hear why most business owners play it too safe when setting goals, how to delegate effectively, how to document and train your team so you stop being the bottleneck, and why creating space to think and learn is the secret weapon for making better decisions. If you’re ready to build momentum and grow faster in 2025, this episode will show 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
Dec 19, 2024 · 24 min
166 \\ 4 Smart Strategies to Scale Your Business in 2025
This episode breaks down four key moves every entrepreneur should make to grow their business in 2025. From improving your mindset to building strong systems, you’ll learn how to prepare yourself for the next stage of growth. We cover why investing in yourself matters, how to create workflows and systems that run without you, and why training and trusting your team is essential. You’ll also hear why preparing your external partners and vendors now sets you up for success. Whether you’re focused on small business finance, business strategy, or building better money decisions, these insights will help you enter the new year with clarity and focus. 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
Dec 16, 2024 · 12 min
165 \\ State Tax Loophole: How Business Owners Can Slash Taxes with PTET
If you run a business in a state with income tax, this episode shows you how to legally lower your taxes using the pass-through entity tax (PTET). Learn how this state-level tax strategy lets you deduct state and local taxes directly on your business return instead of losing the benefit under the $10,000 SALT cap. We break down how PTET works, which states allow it, what types of income qualify, and why it can mean thousands in tax savings for entrepreneurs. You’ll also hear about compliance rules, deadlines, and why talking to your CPA now is key before 2025 tax law changes. This episode is packed with smart strategies for tax reduction, tax planning, and business finance. 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
Dec 12, 2024 · 14 min
164 \\ Backdoor Roth IRA Strategy: CPA Advice for High Earners on Tax Savings
In this episode, learn how high-income earners can still build tax-free wealth using the backdoor Roth IRA strategy. We break down who qualifies for a Roth IRA, current income limits, and why most business owners are locked out of direct contributions. You’ll discover how to use a traditional IRA to legally move money into a Roth IRA, why timing matters, and how to plan with a CPA and financial advisor to protect future income. With income tax rates likely to rise, this tax strategy gives you a way to create tax-free income in retirement. If you want smart strategies for tax reduction, tax planning, and future tax-free withdrawals, 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
Dec 9, 2024 · 14 min
163 \\ Beneficial Ownership Report Update: CPA Advice on BOI Deadlines and Compliance
This episode breaks down the latest updates on the Beneficial Ownership Information (BOI) reporting requirements and how a recent federal court injunction affects U.S. business owners. Learn what the Corporate Transparency Act (CTA) is, who must file, and what the penalties look like. We explain why the Texas court halted enforcement, what this temporary suspension means for you, and how to decide whether to file or wait. With a January 2025 deadline looming and potential changes from the Department of Justice and Congress, you’ll get clear, practical cpa advice on compliance, risk management, and protecting your business from penalties. Stay informed so you can make smart strategies and tax planning decisions in a fast-changing regulatory environment. 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
Dec 5, 2024 · 26 min
162 \\ Trump 2025 BRICS Tariffs: Tax Strategies for Small Business Owners
In this episode, we unpack what Donald Trump’s proposed 100% tariffs on BRICS nations—Brazil, Russia, India, China, and South Africa—could mean for U.S. businesses in 2025. Learn why these tariffs matter, how they affect supply chains, inflation, and global trade, and the specific ways small business owners can prepare. We cover opportunities that may come from reshoring manufacturing, the potential return of stronger R&D tax credits, and current tax incentives for importers and exporters like duty drawbacks and IC-DISC structures. With billions of dollars in trade between the U.S. and BRICS countries at stake, this discussion highlights how smart strategies and tax planning can help you adapt and protect 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
Dec 2, 2024 · 20 min
161 \\ IRS Rules for Bigger Business Deductions: 3 CPA-Approved Steps to Cut Taxes
In this episode, learn how to turn everyday business expenses into bigger deductions with three IRS-approved rules. Many small business owners miss out on deductions because they don’t know how to structure expenses correctly. We break it down: how to make sure an expense has a clear business purpose, what counts as “ordinary” in your industry, and how to prove an expense is necessary for generating income. You’ll hear examples of meals, travel, home use, and even family involvement that can become legitimate business write-offs with proper documentation. These simple tax planning strategies can help you reduce taxable income and keep more of your hard-earned money—legally. 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
Nov 28, 2024 · 17 min
160 \\ Year-End Tax Tips: W-9s, 1099s, and Accounting Prep for 2024
This episode walks you through exactly how to prepare your business for 2024 year-end taxes so you can avoid stress in tax season. You’ll learn why keeping your financials up to date is critical, how to handle 1099 reporting, and why collecting W-9s from contractors before payment is non-negotiable. We also cover tips for organizing your books, using QuickBooks or other tools to track vendors, and how to choose the right CPA for tax planning and strategy. Whether you need help with bookkeeping, 1099 compliance, or upgrading your tax strategy, these steps will help you start 2025 on solid financial footing and avoid penalties. 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
Nov 25, 2024 · 18 min
159 \\ Boost Cash Flow Fast: Tax Strategies Every Business Owner Needs
In this episode, learn how to turn cash flow struggles into surplus by focusing on the biggest expense most business owners overlook: taxes. Instead of stressing over late payments or small cost cuts, we explain how tax planning can free up thousands of dollars quickly. Discover how quarterly tax reviews, proactive strategy, and smart CPA partnerships can reduce overpayments and leave more cash in your pocket—sometimes immediately by cutting future estimated tax payments. If you’ve never had a deep tax assessment, you’re almost certainly overpaying. This conversation shows you how to stop missing opportunities and use tax strategies as a direct way to improve cash flow and financial control heading into 2025. 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
Nov 21, 2024 · 16 min
158 \\ How Business Owners Save 30%+ on Taxes with Proactive CPA Strategies
Most business owners overpay taxes by 20–30% simply because they’ve never worked with a CPA who actively plans and implements strategies all year long. In this episode, you’ll hear how proactive tax planning works, how to know if you’re ready for it, and why a traditional once-a-year tax prep mindset is costing you thousands. We explain what a true advisory engagement looks like, how small changes to documentation and structure can create big deductions, and why partnering with a tax advisor who understands your business can transform your cash flow. If you’ve been paying high taxes without a clear plan, this episode will help you see what’s possible when you approach taxes strategically instead of reactively. 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
Nov 18, 2024 · 16 min
157 \\ How to Cut Capital Gains Tax When Selling Your Home
Sold your house for a big gain? In this episode, we break down exactly how capital gains taxes work on a home sale and three strategies you can use to reduce or even eliminate the tax bill. Learn why the popular 1031 exchange doesn’t apply to personal residences, how the IRS $500,000 exclusion works, and why you still need to report the sale even if you qualify for the exclusion. Then we dive into real options, including qualified opportunity zone investments, using capital losses to offset gains, and an advanced oil and gas investment strategy that can wipe out a six-figure tax bill while keeping most of your cash free. If you want practical, legal ways to protect your profit from taxes, this episode shows you how. 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
Nov 14, 2024 · 14 min
156 \\ Pay Your Spouse the Smart Way: Tax Benefits and Strategies for 2024
Should you put your spouse on payroll? This episode explains why paying your spouse from your business can be a smart move and how to do it right. We cover the tax benefits, including deductions for travel, extra retirement contributions, and how to structure pay so you avoid payroll taxes using a medical expense reimbursement plan. You’ll learn the rules for making it IRS-compliant—job descriptions, documentation, and fair pay—and how these strategies can reduce federal, state, and payroll taxes. Whether your spouse already helps in your business or could take on specific roles, this approach can keep more money in your pocket and open up new tax-saving opportunities in 2024 and beyond. 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
Nov 11, 2024 · 13 min
155 \\ Lease or Buy Equipment? Section 179 Tax Strategies for 2024
As year-end approaches, many business owners scramble to reduce taxes by buying equipment—but is that really the smartest move? In this episode, we unpack the key questions you need to answer before leasing or buying equipment. Learn how to decide if a purchase makes sense based on ROI, cash flow, and your projected 2024 vs. 2025 tax liability. We explain the difference between a capital lease and an operating lease, why only capital leases allow Section 179 depreciation, and how to compare the total costs of leasing versus buying so you can make the right financial choice. This episode will help you think strategically about big equipment decisions instead of rushing into purchases just for a tax deduction. 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
Nov 7, 2024 · 16 min
154 \\ Trump’s Win and Your Taxes: What Business Owners Should Expect in 2025
Trump’s election win raises big questions about how tax policy could shift for business owners. In this episode, we unpack what you need to know right now. Tiffany breaks down the looming 2025 sunset of the Tax Cuts and Jobs Act, why QBI deductions and lower tax brackets are at stake, and what a Trump administration is likely to prioritize. She also shares insights on potential tax reforms, tariffs, and even the possibility of an IRS overhaul. Whether these changes stick or evolve, this episode prepares you for what’s ahead so you can plan, adjust, and stay ahead of the curve. 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