In this episode, we're diving into the number one audit risk that many small business owners unknowingly make—and it’s a mistake I see all the time! If your business earns less than $500,000 a year (or even more!), you might be at risk for an IRS audit without even realizing it. We’ll discuss why mixing personal and business finances is a big no-no, how it can lead to serious problems, and the simple steps you can take today to fix it.

Plus, I’ll share tips on keeping your records clean, using easy-to-use software to track receipts, and how staying disciplined with your money can protect your business. Don't let an audit catch you off guard!

Tune in to learn how to keep your finances in order, stay compliant, and avoid common pitfalls that could cost you big time. Let’s get your business audit-proof and running smoothly!

Next Steps:

☎️ 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

Are you the bottleneck in your own business? In this episode, we dive into the surprising thing that might be holding you back from growing your business. I’ll share a recent conversation with my business coach that opened my eyes to a personal need that was unknowingly keeping me stuck.

We’ll talk about why it’s so hard to step away, even when you know you need a break, and how that impacts your business.You’ll learn about the common trap of needing to feel important and how it’s affecting your team and your growth.I’ll give you some practical tips on how to give yourself permission to let go and make space for bigger ideas.

If you’re ready to stop getting in your own way and start taking your business to the next level, this episode is for you. Let’s jump in and grow together!

Next Steps:

☎️ 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

In this episode, we dive into one of the biggest tax changes in recent years—the Tax Cuts and Jobs Act of 2017—and what it means for your tax deductions today. With the Act set to sunset soon, there are still smart ways to maximize your tax benefits, especially if you’re a business owner dealing with the SALT deduction cap.

We’ll break down a clever workaround that could help you save thousands by moving deductions from your personal taxes to your business taxes. Find out how states like California, New York, and New Jersey are giving business owners a big tax break with pass-through entity deductions. We’ll also cover key steps to make sure your business is set up correctly and how to look for other tax-saving opportunities.

Don’t miss this episode filled with tips to keep more money in your pocket—no complicated tax jargon, just clear advice that works!

Next Steps:

☎️ 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

Have you ever thought your dentist and tax preparer could have something in common? In this episode, I share a surprising realization I had during my recent dentist visit. We’ll dive into the big difference between quick, volume-based services and those that offer a personalized, advisor-level experience.

I’ll walk you through my son’s speedy dental appointment versus my own eye-opening visit to a specialized dentist who took the time to educate and care for me in a whole new way. This got me thinking about how many of us choose tax preparers who rush through our returns, missing key strategies that could save us money.

Tune in to hear why the right advisor matters—whether it’s for your teeth or your taxes—and how working with someone who truly cares can make all the difference. Don't miss this episode; it might just change the way you look at your service providers!

Next Steps:

☎️ 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

Are you a business owner who feels like you’re paying too much in taxes? You’re not alone! In this episode, we dive into why millions of business owners are overpaying the IRS every year—and what you can do to stop. We’ll discuss common mistakes like only talking to your CPA once a year, missing out on proactive tax planning, and getting outdated advice.

You’ll learn why having the right tax advisor on your side can save you thousands of dollars. Discover how simple changes to your business structure and tax strategy can help you keep more of your hard-earned money. If you’re tired of making unwanted “donations” to the IRS, this episode is for you.

Tune in to find out if you’re overpaying and get the tips you need to pay the right amount in taxes—no more, no less. Don’t wait—let’s start saving today!

Next Steps:

☎️ 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

Are you running a side business to escape your full-time job? The IRS has strict rules about what counts as a real business and what’s just a hobby—and getting it wrong can cost you big time! In this episode, we dive into the 9-point IRS test that decides whether your side gig is legit or just a fun pastime.

You'll learn why it’s so important to prove your business is real, especially if you’re losing money. We’ll cover tips on keeping records, creating a business plan, and why you need to separate your business and personal finances. Plus, I’ll share real advice on how to stay on the right side of the IRS and avoid getting into trouble.

Don’t let your hard work go to waste—tune in to make sure your side hustle is set up for success and recognized as a real business!

Next Steps:

☎️ 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

Hiring new employees is a big step, but did you know it can also save you money on your taxes? In this episode, we dive into the Work Opportunity Tax Credit—a little-known but powerful federal program that rewards businesses for hiring employees from certain targeted groups, like veterans, long-term unemployed, and more. We’ll break down how this credit works, who qualifies, and how you can claim it to reduce your tax bill by thousands of dollars per employee.

Plus, you’ll learn why this credit is a win-win, helping you save money while giving someone in need a chance at a job. If you’re a business owner looking to hire, you don’t want to miss this valuable tip that could put money back in your pocket.

Tune in to discover how to take advantage of this incredible tax benefit!

Next Steps:

☎️ 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

Deciding whether to lease or buy equipment or a vehicle for your business can be tricky, but it's a choice that can greatly impact your cash flow and taxes. In this episode, we break down the pros and cons of both leasing and buying, helping you make the best decision for your business.

You'll learn about the tax benefits, upfront costs, and long-term implications of each option. Whether you’re a small business owner trying to decide on a new vehicle or considering a big equipment purchase, this episode will give you the insights you need.

Tune in to get clear, easy-to-understand advice that will help you save money and make smarter financial decisions for your business!

Next Steps:

☎️ 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