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

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414 episodes
Updated Friday

Episodes414

Newest first

Jul 6, 2023 · 12 min
33 \\ How to Pay Yourself as a Business Owner (Without Messing Up Your Taxes)
Confused about how to pay yourself from your small business? You’re not alone. In this episode, we break down the right way to take money out of your business, why draws and transfers work differently than payroll, and the mistakes new business owners make that can wreck their finances and taxes. Learn why separating business and personal accounts is essential, how to know how much you can safely pay yourself, and why understanding your profit, overhead, and tax obligations comes before transferring a dime. If you’re a new entrepreneur or running an LLC or sole proprietorship and unsure how to handle paying yourself, this episode gives you clarity and confidence. Episodes mentioned in the podcast: 🎧 Episode # 31 - Estimated Taxes: What Are They and How to Pay Them 🎧 Episode # 21 - Small Business Finance 101 for Entrepreneurs 🎧 Episode # 9 - 3 Strategies to Reduce your Audit Risk as an LLC 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
Jul 4, 2023 · 21 min
32 \\ Reignite Your Passion: How Entrepreneurs Can Find Joy and Drive Again
Losing your spark as a business owner? You’re not alone. In this episode, I share how I pulled myself out of a long season of feeling stuck in my business and personal life—and how you can do the same. From getting uncomfortable on purpose, trying new hobbies, and making space for creativity, to working with a coach, meditating, and redefining what you want your business to look like, these strategies helped me rediscover joy and excitement as an entrepreneur. If running your business has started to feel heavy, boring, or uninspiring, this episode will show you practical ways to reset, dream again, and build a life and business you love. 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
Jun 29, 2023 · 14 min
31 \\ Stop IRS Surprises: How New Business Owners Can Handle Taxes the Right Way
New business owners often underestimate how much they need to set aside for taxes. This episode breaks down exactly how to prepare for IRS estimated payments so you’re never caught off guard. Learn the basics of setting aside funds for federal income tax and self-employment tax, how to calculate your tax bracket, why a separate bank account for taxes is critical, and when you actually need to start paying quarterly. We also cover the difference between your first year in business and future years, common pitfalls, and the smartest way to avoid overpaying while still being prepared. If you want to avoid the stress of a big tax bill at year-end and finally feel confident about how much to pay the IRS, 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
Jun 27, 2023 · 17 min
30 \\ LLC Basics: How to Set It Up, Protect Yourself, and Avoid Costly Mistakes
Thinking about starting a business but confused about LLCs? This episode covers everything you need to know before you file. Learn why LLCs matter for protecting your personal assets, the right way to separate business and personal finances, and how to avoid the common mistake that makes your LLC useless in a lawsuit. We also cover how to form an LLC in your state, when you might need an attorney, the role of an operating agreement, whether you should register in a different state, and how to get your EIN so you can open a business bank account. If you’re a new business owner and unsure about LLCs, this episode gives you a clear roadmap for doing it the right way. 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
Jun 23, 2023 · 11 min
29 \\ LLC Money Moves: Business Addresses, Quarterly Taxes, and High-Yield Savings Explained
In this episode, I tackle listener questions that every new business owner needs to hear. We dig into two critical topics: Business addresses: Should you use your registered agent’s address or your home address on tax filings, and why does it matter? Quarterly taxes: How to handle estimated taxes in your first year, what percentage of profit to set aside, and when the IRS expects payments. High-yield savings accounts: Should your LLC have one? How interest from these accounts affects your taxes. If you’re just starting out with an LLC and want to avoid easy-to-make mistakes around compliance and cash management, this episode will give you clear answers and next steps. 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
Jun 19, 2023 · 13 min
28 \\ 23 Million Small Businesses Are Overpaying Taxes—Are You Structured Wrong?
In this episode, I tackle the single biggest reason millions of business owners are overpaying taxes: the wrong business structure. You’ll learn: Why 23 million small businesses are paying more taxes than they should. How your entity type (LLC, S Corp, Partnership, C Corp) impacts what you owe. The two questions that tell you if you’re leaving money on the table. When an S corp makes sense—and when it’s a terrible idea. Why you can’t rely on year-end tax prep alone if you want to stop overpaying. If you own a business, suspect you’re paying too much tax, or aren’t sure if your CPA is doing enough, this episode will open your eyes to what’s possible when you get the structure and strategy right. 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
Jun 15, 2023 · 14 min
27 \\ Cash Flow Tips for Small Business Finance: Smart Strategies to Avoid Failure
Cash flow can make or break a small business. In this episode, we talk about why so many small businesses run into cash flow problems and what to do about it. You’ll learn how to forecast your cash flow, manage receivables and payables, avoid relying too much on a few big clients, and build a healthy cash reserve. We cover simple tools, from spreadsheets to software, that help you stay ahead. You’ll also hear tips for handling seasonal slowdowns, negotiating with vendors, and using smart strategies like payment terms and lines of credit. Whether you’re new to small business finance or just want to sleep better at night, this episode gives you clear, practical steps to strengthen 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
Jun 12, 2023 · 18 min
26 \\ New Tax Law Changes 2025: CPA Advice to Protect Your Small Business
Big tax changes are coming, and this episode breaks them down in plain English. We cover draft bill HR 3938 and how it impacts research and development credits, bonus depreciation, and energy credits. You’ll learn what the GOP’s proposed tax package means for families, contractors, small businesses, and those using apps like PayPal and Venmo. We also talk about changes to 1099 rules, potential extensions to key tax cuts, and why these moves are designed to spark economic growth. If you own a small business, work with contractors, or just want to understand how these changes could hit your wallet, this episode gives you practical cpa advice and tax strategies to prepare ahead. 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
Jun 8, 2023 · 19 min
25 \\ Tax Planning Strategies: Stop Overpaying and Keep More of Your Money
Do you suspect you’re paying too much in taxes? You’re probably right. In this episode, we break down why most business owners overpay and how to fix it. You’ll learn what true tax planning looks like (it’s more than a once-a-year meeting), how tax advisory services can uncover missed deductions, and why the right business structure can make a massive difference. We cover strategies like home office deductions, retirement planning, entity selection, and other legal tax strategies that can save thousands. If you’re a business owner paying $40,000 or more in taxes, this episode shows you how to reduce that bill ethically and effectively with smart planning and the right CPA advice. 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
Jun 5, 2023 · 17 min
24 \\ Why Every Small Business Needs a CFO to Scale and Grow
If your small business has hit a ceiling, a CFO might be the key to breaking through. In this episode, we unpack why a chief financial officer—especially a fractional CFO—is so valuable for growing companies. You’ll learn how a CFO helps with cash flow management, budgeting, financial strategy, key performance indicators (KPIs), and getting funding when you need it. We cover how they go beyond bookkeeping and tax prep to analyze your numbers, hold you accountable, and give you the insights you need to scale. Whether you’re aiming to hit your next revenue goal, control costs, or make better business finance decisions, this episode shows you why a CFO could be the missing piece for your 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
May 31, 2023 · 21 min
23 \\ Small Business Budgeting: How to Plan for Growth and Hit Your Goals
Most small business owners focus on the daily grind and ignore one of the biggest growth tools they have: a budget. In this episode, we dig into why budgeting matters, how to build one from scratch, and how it can change the way you run your business. You’ll learn how to set realistic revenue goals, track expenses, and use historical trends to plan for the future. We cover how to break numbers down month by month, how to review budget vs. actual performance, and why forecasting matters when conditions change. A strong budget lets you see where you’re going instead of always looking in the rearview mirror. If you want to make smarter business finance decisions and hit your next growth goal, this episode will show 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
May 29, 2023 · 26 min
22 \\ Business Growth Intensive: CPA Advice, Tax Strategies & Scaling Success
Join Tiffany Phillips, CPA and host of the Small Business Finance podcast, and Brian Webb as they share insights from their two-day Business Growth Intensive in Houston. This episode dives into business strategy, tax strategies, and financial mindset shifts that help entrepreneurs scale without burnout. You’ll hear how hot-seat problem solving, wealth planning, and networking with successful leaders can transform your business. Learn how to create systems that free you from daily operations, maximize income, and grow your company with smart strategies. Whether you’re a CEO, investor, or ambitious entrepreneur, this discussion offers actionable tips on business tax planning, partnerships, and building a strong money mindset. To learn more and register for the event, visit: http://warroomhouston.com This event is hand tailored for business owners and C-suite execs of businesses with gross sales of $1 million or more, business investors with at least a million dollar net worth, and aspiring entrepreneurs who have big audacious growth goals for 2023 and beyond. - Save $1,000 on the registration fee ($1,499) until June 5th, 2023. - Save $500 on registration fee ($1,999) between June 6th and June 19th, 2023. - Registration jumps to $2,499 on June 20th. To learn more and register for the event, visit: http://warroomhouston.com Next Steps: 💰Pay Less in Taxes – Start Here! 💰 ☎️ 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 📲 Follow me on IG @ the.tiffany.p.cpa
May 25, 2023 · 29 min
21 \\ Small Business Finance 101: How to Read Financials and Make Smart Money Decisions
Most small business owners feel lost when looking at their financial statements. This episode breaks down the basics of small business finance so you can finally feel confident with your numbers. You’ll learn what a profit and loss statement, balance sheet, and cash flow statement actually tell you, how they work together, and why understanding them is critical for growth. We also cover key metrics (KPIs) like gross margin, cash flow, and conversion rates that every owner should track. With clear explanations and practical examples, you’ll see how to use these reports to make smarter decisions, know when to hire or invest, and grow your business with confidence. If you’ve ever felt unsure about your business finances, this is where you 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
Mar 8, 2023 · 13 min
20 \\ Business Taxes Explained: K-1s, W-2 Health Insurance, and Capital Gains Simplified
Taxes don’t have to be so confusing. In this episode, we answer real questions from small business owners about some of the most common tax headaches. You’ll learn exactly what a K-1 is, how pass-through entities like S corps and partnerships report income, and why you can’t file your 1040 without one. We also cover how to properly handle self-employed health insurance on your W-2, and what capital gains tax really means—including the basics of depreciation vs. appreciation. If you’ve ever been unsure about these terms or how they affect your small business, this episode will clear things up and help you make smarter business tax 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
Feb 22, 2023 · 17 min
19 \\ Real Estate Tax Strategies: 6 Ways to Cut Capital Gains and Keep More Money
Real estate can be a goldmine for tax advantages—if you know how to use them. In this episode, we cover six powerful strategies that every real estate investor should know, from beginners to seasoned pros. You’ll learn how to use 1031 exchanges to defer taxes, why living in your flip for two years can eliminate capital gains, and how seller financing spreads out your tax hit. We also dig into borrowing against appreciated properties, using cost segregation studies for faster deductions, and how holding real estate long-term can create massive tax savings for your heirs. If you’re investing in real estate or thinking about it, these tips can help you reduce taxes and build long-term wealth. 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
Feb 8, 2023 · 11 min
18 \\ 3 Ways to Fix Financial Blind Spots and Protect Your Small Business
Many small business owners make critical decisions without really understanding their numbers—and it puts their business at risk. In this episode, we tackle the three biggest steps you need to take to eliminate financial blind spots. You’ll learn how to identify where your weaknesses are, why hiring people smarter than you is non-negotiable, and how to grow your own financial knowledge so you can make confident decisions. From spotting fraud to understanding cash flow and key metrics, these strategies help you protect your business and build a stronger foundation. 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 25, 2023 · 11 min
17 \\ How to Organize Your Business Finances and Make Tax Time Easy
Most small business owners avoid financial organization because it feels overwhelming—until tax season hits and the mess costs them time, money, and peace of mind. In this episode, Tiffany shares three practical tips to organize your financial records and finally stay ahead of it. You’ll learn why going digital is a game-changer, how to set up a simple filing system (paper or cloud), and how often you should be maintaining it so you don’t fall behind. Whether you use QuickBooks, Dext, Dropbox, or just folders, this approach will help you stay prepared, cut stress, and make tax season painless. 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 4, 2023 · 11 min
16 \\ Why Reconciling Your Accounts Could Save You from IRS Trouble (and Lost Money)
Most small business owners skip reconciling their accounts—until it costs them big. In this episode, Tiffany breaks down what reconciliation really means, why it’s non-negotiable, and how missed transactions can either cause you to overpay the IRS or look like you’re underreporting income. You’ll learn how to reconcile whether you use QuickBooks or a simple spreadsheet, why monthly check-ins matter, and the exact steps to catch missing deposits and expenses. Before you file your taxes, this is the episode you need to hear to avoid paying more than you should—or attracting IRS attention. 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 21, 2022 · 12 min
15 \\ How to Pay Your Kids and Save Big on Taxes: Smart Tax Strategies for Business Owners
In this episode, learn how hiring your kids can be a powerful tax strategy for small business owners. We answer a listener’s question about whether to pay kids through an S Corp or a family LLC and explain how this decision impacts payroll taxes, tax deductions, and tax savings. You’ll hear how to keep records, what ages qualify, and why paying your children can create a solid work ethic while unlocking tax reduction opportunities. We also discuss setting up a Roth IRA for your kids and the importance of proper documentation to avoid IRS issues. If you want practical cpa advice on small business tax planning and smart strategies to reduce your tax bill, this episode gives you a clear action plan. 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 14, 2022 · 10 min
14 \\ The Augusta Loophole: How the 14-Day Rule Cuts Taxes for Small Business Owners
Learn how the Augusta loophole (IRS Section 280A) can help you keep more of your money. In this episode, discover how renting your home to your business for up to 14 days a year can create tax-free income and reduce your overall business tax burden. We explain how to set the right rental rate, document board meetings, create a rental agreement, and properly issue a 1099 to stay compliant with the IRS. Whether you run an S Corporation or another small business, this strategy is simple to implement and can add thousands in tax savings. If you want practical cpa advice, clear tax strategies, and smart ways to keep more of what you earn, this episode is packed with actionable steps to legally lower your tax bill. 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