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

Nov 4, 2024 · 20 min
153 \\ Thinking 3 Years Ahead: Vision, Coaching, and Building a Team That Scales
Most business owners are running their companies based on where they are today, not where they want to be three years from now—and it’s keeping them stuck. In this episode, Tiffany opens up about how shifting her mindset and working with coaches has changed how she builds her team, makes decisions, and creates growth. She explains why a clear, documented vision isn’t optional, how to bring your team into it, and how this one change impacts hiring, culture, and daily priorities. If you’re serious about scaling, this episode is about thinking bigger, making future-focused decisions, and creating a team that moves with you toward that bigger vision. 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
Oct 31, 2024 · 18 min
152 \\ Audit-Proof Your Business: 7 Smart Steps to Avoid IRS Headaches
No business owner wants an IRS audit—but hoping it won’t happen isn’t a strategy. In this episode, Tiffany breaks down seven practical steps to make sure your business is ready if the IRS comes calling. From keeping airtight records and understanding how to respond to notices, to documenting deductions properly and knowing your rights, she explains exactly how to protect yourself. Whether you’re overwhelmed by receipts, worried about what triggers an audit, or want to avoid making costly mistakes, this episode gives you the roadmap to stay stress-free and confident. 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
Oct 28, 2024 · 22 min
151 \\ 10 Essential Tips to Master State Sales Tax (and Avoid Expensive Mistakes)
Sales tax is one of the most confusing—and dangerous—areas for business owners to get wrong. In this episode, Tiffany cuts through the noise and explains the 10 most important things you need to know about state sales taxes. From understanding nexus rules and registering for permits to dealing with multi-state online sales, resale certificates, filing deadlines, and keeping records, this episode will help you stay out of trouble with state tax authorities. If you’ve ever wondered whether you should be charging sales tax, how to handle out-of-state sales, or how to avoid surprise audits and penalties, 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
Oct 24, 2024 · 21 min
150 \\ Multi-State Business Tax Traps: CPA Advice to Cut Taxes and Save Thousands
If your small business earns income across multiple states, you may be paying more tax than you should. In this episode, learn how different state tax rules work, why income earned in other states can create hidden tax bills, and how to fix it. Discover the five key things every business owner must know about residency, non-resident state returns, income allocation, and reciprocity agreements. You’ll hear a real client case study showing how a few smart strategies saved thousands by properly allocating income and fixing payroll taxes. Whether you want better tax planning, tax savings, or guidance from a CPA who understands multi-state complexity, this episode will help you minimize taxes and keep more 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
Oct 21, 2024 · 17 min
149 \\ How to Push Through the Messy Middle: Smart Strategies to Scale Without Burning Out
Growing a business past the early hustle and into the million-dollar range is exciting—but it’s also hard. In this episode, we dive into the “messy middle,” that stressful stage between $1M and $3M in revenue where owners feel stuck, overwhelmed, and unsure how to move forward. You’ll learn why this stage is normal, how to shift your mindset, and the key strategies to overcome it: building solid SOPs, delegating tasks, and hiring the right people to pull you out of the weeds. Tiffany shares her personal experience, lessons learned from clients, and practical steps to reduce stress while still scaling. If you’ve hit that wall where success feels heavy, this episode will show you how to move past it and reclaim control of your time and business growth. 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
Oct 17, 2024 · 25 min
148 \\ 2024 Election Tax Plans: What Trump vs Harris Could Mean for Your Small Business
The 2024 election is weeks away, and tax policy could shift dramatically depending on who wins. In this episode, Tiffany breaks down the key tax proposals from Donald Trump and Kamala Harris and explains how they could affect small business owners. You’ll learn about plans to change corporate tax rates, extend or sunset the Tax Cuts and Jobs Act, new credits for startups, potential increases to capital gains, and regulatory rollbacks or expansions. These tax strategies and policies could have a direct impact on your profits, your planning, and how much cash stays in your business. If you want to get ahead of the changes and start tax planning now, this episode will give you a clear, practical understanding of what’s at stake in 2024. 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
Oct 14, 2024 · 18 min
147 \\ How a CPA Couple Saved $67,581 in Taxes: Real Case Study and Tax Planning Tips
In this episode, Tiffany reveals the exact strategies she used to save a client couple $67,581 in taxes. You’ll hear how a financial advisor and a CPA—both professionals—still missed major opportunities for tax planning until they partnered with an expert. This deep dive walks you through how S-corporation elections, the Augusta strategy, accountable plans, oil and gas investments, home office deductions, and a QSEHRA (health reimbursement arrangement) completely changed their tax bill. These actionable insights will help you see how a comprehensive tax plan can legally reduce your taxes, even if you think you’re already doing everything right. If you’ve ever wondered what a real tax planning engagement looks like and how to unlock hidden tax savings, this is the episode you don’t want to miss. 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
Oct 10, 2024 · 18 min
146 \\ 7 Smart Year-End Tax Strategies Every Small Business Owner Must Do Before 2025
The year is almost over, and if you want to cut your 2024 tax bill, now is the time to act. In this episode, Tiffany walks you through seven critical tax planning steps every small business owner should take before December 31st. Learn why keeping your books current, reviewing contractor W-9s, calculating estimated taxes, planning retirement contributions, leveraging real estate, investing strategically, and reviewing missed deductions can dramatically reduce your taxes. These tax tips and strategies are designed to help you maximize deductions, avoid IRS penalties, and set up your business for success next year. Don’t wait until tax season—take control now and finish the year strong with smart planning that pays off when you file. 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
Oct 7, 2024 · 15 min
145 \\ Avoid IRS Trouble: CPA Advice on Excess Distributions & Shareholder Loans for S Corp Owners
If you own an S corporation, pulling too much money out of your business can create costly tax problems. In this episode, learn why excess distributions can trigger a shareholder loan, capital gains taxes, and IRS audits—and how to avoid them. You’ll discover clear steps to document loans with a promissory note, set up proper interest payments, and keep your business tax-compliant. Perfect for small business owners who want smart strategies to protect their business finances, reduce risk, and stay on the IRS’s good side. This episode breaks down complex CPA tax advice into plain English so you can take control of your small business finance decisions and keep more of your hard-earned income. Episodes Mentioned in Today's Show: 🎧 Episode # 93 - "Tax Deadlines: How Overpaying Taxes is Costing You Big" 🎧 Episode #92 - "Breaking the Code: S Corp Tax Secrets Every Business Owner Must Know!" 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
Oct 3, 2024 · 16 min
144 \\ Business Cybersecurity Tips: CPA Advice to Protect Financial Data and Prevent Hacks
Financial data breaches can destroy a business. In this episode, learn practical CPA advice on how to safeguard your financial information from hackers and avoid costly mistakes. We cover why two-factor authentication is non-negotiable, how password managers like 1Password can protect your accounts, why updating your software matters, and how to avoid weak security questions that hackers can guess. You’ll also learn how to manage employee access to sensitive data, back up systems to prevent catastrophic losses, and create smart strategies to protect your business finance. If you’re a small business owner, these tips will help you stay ahead of cyber threats and keep your financial information safe so you can focus on growing your business with confidence. 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
Sep 30, 2024 · 16 min
143 \\ Stop Sabotaging Growth: How Coaches Help Small Business Owners Succeed
Are you trying to grow your business alone? In this episode, learn why hiring a coach or advisor can change everything. Through personal stories about working with multiple coaches—from golf to business—you’ll see how outside guidance improves mindset, leadership, and time management. We dive into research showing how coaching increases revenue, boosts success rates, and helps business owners hit their goals faster. You’ll also learn why investing in help isn’t a luxury but a smart business strategy that makes you a stronger leader. If you want better decision making, less stress, and a clear path to growth, this episode will challenge the way you think about running 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
Sep 26, 2024 · 24 min
142 \\ 8 Costly Finance Mistakes Small Business Owners Make (And How to Fix Them)
Most small businesses fail not because of lack of effort, but because of poor financial decisions. In this episode, we break down eight of the most common financial mistakes business owners make—and how to avoid them. From ignoring cash flow and losing track of costs, to failing at tax planning, relying only on savings, mishandling debt, chasing growth instead of scaling, skipping financial planning, and refusing to hire expert help. You’ll learn practical, actionable steps to get control of your business finance, reduce risk, and position your company for long-term growth. This is essential listening for any small business owner who wants to make better money decisions, build a scalable business, and avoid common pitfalls that can derail your success. 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
Sep 23, 2024 · 17 min
141 \\ Pay Your Spouse Tax-Free: The Medical Expense Reimbursement Strategy Every Business Owner Should Know
Most small business owners overpay taxes because they don’t know this IRS-approved strategy. In this episode, learn how medical expense reimbursement plans (HRAs, QSEHRAs, and ICHRAs) can let your business pay for medical expenses tax-free—and even allow you to pay your spouse without payroll taxes. We break down exactly how these plans work, what counts as qualified expenses, and why proper documentation is critical. Whether you have kids, high medical costs, or just want to capture deductions you’re missing, this strategy can help you reduce taxable income and save thousands every year. Stop leaving money on the table and use the tax code to your advantage. 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
Sep 19, 2024 · 16 min
140 \\ Avoid IRS Trouble: Stop Mixing Business and Personal Finances Before It’s Too Late
One of the top reasons small businesses get audited by the IRS has nothing to do with revenue—it’s sloppy bookkeeping. In this episode, learn why mixing personal and business finances is one of the biggest audit risks and what to do about it right now. We break down why commingling funds is a red flag, how it can pierce your LLC’s legal protection, and the simple steps you can take to separate accounts, document receipts, and keep clean records. You’ll also hear practical tips on using automation tools like Dext to stay organized and avoid headaches. If you’ve been running expenses through your business account without discipline, this episode is your wake-up call to protect your business and keep the IRS off your 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
Sep 16, 2024 · 13 min
139 \\ From Bottleneck to CEO: The Mindset Shift Every Business Owner Needs
Are you holding your business back without realizing it? In this episode, learn how the need to feel indispensable can keep you stuck in day-to-day tasks and stop your business from growing. Through a candid conversation with her business coach, Tiffany shares the surprising mindset shift that changed how she runs her business—and why stepping back can actually move your company forward. You’ll hear how to recognize when you’re being the bottleneck, how to give yourself permission to think big, and why creating space to plan and lead is essential for long-term success. If you’ve been running yourself ragged in the grind, this episode will give you a new perspective on how to truly grow. 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
Sep 12, 2024 · 13 min
138 \\ SALT Deduction Workaround: How Business Owners Can Use Pass-Through Entity Taxes to Save Big
The Tax Cuts and Jobs Act capped state and local tax (SALT) deductions at $10,000, hurting many business owners in high-tax states. But there’s a workaround most don’t know about. In this episode, learn how pass-through entity (PTE) taxes can let you deduct state income taxes at the business level instead of on your personal return, bypassing the SALT cap. We’ll cover which states allow this election, how it works, why your business structure matters, and other strategies you can use to maximize deductions if you’re not eligible. Tax planning is not one-and-done—it’s about staying ahead of changing laws. This episode will help you see if the PTE tax election or other tax strategies can reduce your state and federal 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
Sep 9, 2024 · 16 min
137 \\ Volume vs. Value: Why Your Tax Advisor Should Be More Than a Preparer
What does your dentist have in common with your tax preparer? A lot more than you think. In this episode, I share how two very different dental visits opened my eyes to the real difference between a volume-based business and a true advisor. Just like a rushed cleaning isn’t the same as a specialized dentist who takes time to understand your health, a typical tax preparer isn’t the same as a tax strategist. You’ll learn why most CPAs are stuck in the “high volume, low value” model, why that costs business owners in missed tax savings, and what working with an advisor who focuses on strategy can do for your business. If you’re tired of overpaying taxes and feeling like you’re on your own, this episode will show you what to look for in the right advisor. 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
Sep 5, 2024 · 19 min
136 \\ Stop Overpaying the IRS: How Business Owners Can Legally Cut Their Tax Bill
Most business owners pay far more to the IRS than they need to. In this episode, discover why so many small businesses overpay and what you can do about it. Learn the four major mistakes that cause overpayment: poor communication with your CPA, lack of tax planning, outdated business structures, and never having a proactive advisor on your side. Tiffany explains how the right tax strategist can help you legally reduce your taxable income, keep more of your hard-earned money, and use savings to build long-term wealth. If you have a gut feeling you’re paying too much in taxes, this episode breaks down what to look for and how to fix it before the end of the 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
Sep 2, 2024 · 17 min
135 \\ Is Your Side Hustle a Business or Hobby? Avoid IRS Trouble with Smart Tax Strategies
In this episode, learn how to make sure your side hustle is treated as a real business, not a hobby, in the eyes of the IRS. Discover the 9-point test the IRS uses to decide if you can deduct business losses, and why proper records, a business plan, and separate finances are critical. You’ll hear how to show a true profit motive, build a paper trail, and avoid costly tax mistakes that can come from hobby income. This episode is packed with clear cpa tax advice, small business finance tips, and simple tax planning strategies so you can protect your business and your future. 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
Aug 29, 2024 · 10 min
134 \\ Unlock the Work Opportunity Tax Credit: Save Thousands on Your Small Business Taxes
Did you know hiring the right team can lower your tax bill? This episode dives into the Work Opportunity Tax Credit (WOTC), a little-known federal program that rewards small business owners for hiring from targeted groups like veterans, long-term unemployed workers, and youth in specific areas. You’ll learn exactly who qualifies, how much you can save, and the steps you must take—including pre-screening and timely filing—to secure these savings. This tax planning strategy can cut your tax bill by up to $9,600 per eligible employee. If you’re looking for cpa tax advice, smart business tax tips, and ways to maximize tax deductions while doing good, this episode gives you a clear plan of action to make it happen. 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