A full business bank account feels good. But your December cash decisions can affect your tax bill.

In this episode of Small Business Finance, Tiffany Phillips, CPA and tax strategist, explains five year-end choices S corp owners should review: collecting invoices, paying bills, taking owner distributions, accepting customer advances, and reimbursing business expenses.

Follow an example showing how timing $67,000 in income and deductions could reduce this year’s tax by $20,100 at an assumed 30% rate. Learn why holding a check until January doesn’t move the income, why distributions don’t lower profit, and why tax planning should cover both years.

Get practical tax tips and business finance guidance to help protect cash flow. For the broader planning framework, explore Tiffany’s book, Your Biggest Expense, linked in the episode description.

Next Steps:

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉Do you want some help with planning the perfect tax calendar? Comment “STRATEGY” and I’ll get you some more information!

Selling a rental could leave you with a bigger tax bill than you expect. A 1031 exchange may help you postpone that bill and keep more money invested, but the planning starts before closing.

Tiffany Phillips, CPA and tax strategist, walks through Travis’s $400,000 rental sale and explains the deadlines, property rules, and cash decisions that shape an exchange. You’ll also hear why Kelly’s $30,000 withdrawal creates taxable gain and how cost segregation can add another tax layer.

Get clear tax planning steps, understand how these tax strategies work, and learn why tax savings depend on more than buying another property.

Next Steps:

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉Do you want some help with your 1031 exchange strategy? Comment “KEEP” and I’ll get you some more information!

Can a rental property help you keep more money and qualify for a business loan? It depends on the full picture. In this episode of Small Business Finance, Tiffany Phillips, CPA and tax strategist, explains how rental cash flow, depreciation, debt, and reserves work together. Through hypothetical examples featuring Dan and Joyce, you’ll learn why higher income doesn’t always lead to better loan terms, why a tax loss isn’t the same as a cash loss, and why rental losses may not lower your business taxes. Get clear cpa advice to strengthen your tax planning, business finance, and money decisions before buying.

For more planning guidance, get Tiffany’s book, Your Biggest Expense

Next Steps:

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉Want help with a perfect strategy for maximizing your goals with a rental property? Comment ‘STRATEGY’ and I’ll point you in the right direction.

Selling a rental for $100,000 more than you paid could create nearly $191,000 of taxable gain. How? Depreciation changes the math.

In this episode of Small Business Finance, Tiffany Phillips, CPA and tax strategist, explains how rental deductions affect your tax bill when you sell. Follow two simple examples to see why similar sales can produce different results. Learn why 25% is a maximum rate, how cost segregation can change the picture, and when unused rental losses may help.

You’ll also hear what a 1031 exchange can defer, why your mortgage payoff affects cash differently than taxes, and when estimated payments may be needed. Get practical CPA advice and tax planning questions to review before you list.

For more tax strategies, explore Tiffany’s book, Your Biggest Expense, linked in the description.

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉Are you holding a rental long term, or are you thinking about selling in the next twelve months? Comment “RECAPTURE” and I’ll get you some more information!

Could your health plan help you keep more of what you earn? Tiffany Phillips, CPA and tax strategist, explains how an HSA can offer a deduction, tax-free growth, and federally tax-free spending on qualified medical care.

Learn who qualifies in 2026, how the family limits work, and what S corp owners need to get right. Two business-owner examples show how age, coverage, and reporting affect contributions.

You’ll also hear how to save receipts for future reimbursements, avoid Medicare timing mistakes, and compare health plans before switching. These tax strategies and tax planning steps can help you find tax savings while protecting your cash flow.

For more ways to plan ahead, find Tiffany’s book, Your Biggest Expense, through the link in the episode description.

Next Steps:

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉if you want me to help you with figuring out how to handle your HSA for the best results - comment “STRATEGY” and I’ll get you some more information!

Tax worries can follow you home after a long workday. In this episode of Small Business Finance, Tiffany Phillips, CPA and tax strategist, explains three mistakes that can hurt your cash flow: treating workers incorrectly, missing expense records, and falling behind on estimated tax payments.

Through simple teaching examples, you’ll learn why a contractor agreement doesn’t settle worker status, what records help support a deduction, and why payment timing matters. Tiffany also explains how safe harbor can help with penalties while leaving a tax balance to plan for.

Get practical tax tips, clear CPA advice, and simple tax planning steps you can discuss with your tax professional. Start with one habit and build from there.

Follow the show for more business finance guidance. Find Tiffany’s book, Your Biggest Expense, in the show notes.

Next Steps:

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉if you want to learn more about avoiding costly tax mistakes, comment “KEEP” and I’ll get you some more information!

Already maxing out your 401(k) but still facing a large tax bill? Tiffany Phillips, CPA and tax strategist, explains how a cash balance plan may help profitable business owners put much more toward retirement while reducing current taxable income.

Through two simple examples, learn why a bigger deduction also means a bigger cash commitment. Tiffany covers employee costs, funding duties, hiring plans, and what happens when business slows. She also explains the 2026 contribution limits and why adoption and funding deadlines aren’t the same.

These tax strategies require careful planning, and future withdrawals are generally taxable. Learn how retirement design can support your business finance goals and long-term wealth planning.

For more year-round tax planning ideas, get Tiffany’s book, Your Biggest Expense, through the description link.

Next Steps:

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉if you want me to help you with YOUR Cash Balance Plan, comment “STRATEGY” and I’ll get you some more information!

You can pay your full tax balance in April and still owe an IRS underpayment penalty. The problem may be when you paid, not whether you had the money.

Tiffany Phillips, CPA and tax strategist, explains estimated tax safe harbors through two simple examples. Learn how to compare payment targets, check earlier shortfalls, and understand why December payroll withholding works differently from a late estimated payment.

You’ll also hear how uneven income can affect required payments and what to ask your preparer before year-end. These tax planning steps can help you feel more in control of your business finance while keeping cash ready for April.

Next Steps:

💰 Start Paying Less in Taxes – Grab a Copy of Your Biggest Expense! ➡️https://tiffanyphillips.samcart.com/products/your-biggest-expense-bundle ☎️ Find Out How Much You’re Overpaying the IRS – Book a Free Discovery Call ➡️https://calendar.phillipsbusinessgroup.com/tax 📧 Questions? Email Me at hello@phillipsbusinessgroup.com ✅ Like and Rate us for more practical tax saving tips... Keep More! 👉if you want me to help you avoid underpayment penalties, comment “STRATEGY” and I’ll get you some more information!