Podcasts about business expenses

Who is responsible for deciding whether a business expense is tax deductible: the client, the bookkeeper, or the tax preparer? In this episode, our favorite Bookkeeping Mensch, Paul Rosenblum, shares his approach to handling missing receipts, client gifts, business meals, and other bookkeeping gray areas. He touches on where professional responsibility begins and ends, and whether bookkeepers should rely on client information or use their own judgment when categorizing expenses. Send us Fan MailSupport the showAbout the hostPaul Rosenblum has been doing hands-on bookkeeping for over 30 years, starting with QuickBooks Desktop and adapting to the world of cloud-based QuickBooks Online. He shares practical, in-the-weeds lessons from real client files every episode.

You can't grow a business you can't defend. Every line item on your P&L deserves a real answer when someone asks why it's there. For years as a corporate CFO, I learned a framework for reviewing business expenses that I now use with every Kickstart Accounting client. It is a step-by-step method for small business owners who feel like their profit is leaking somewhere but cannot see exactly where. I walk through how to pull every vendor in your business, grade each one against your actual operations, and create an action plan you can defend. By the end you will know exactly how to bring boardroom-level accountability to your business spending. In this episode of CEO Numbers Network, I break down the expense grading framework into 5 steps any business owner can execute this week. You will learn how to audit every vendor in your business and apply the A/B/C grading system that CFOs use in boardroom reviews. If you have ever felt overwhelmed looking at your P&L or signed up for subscriptions you can no longer defend, this episode gives you the framework to take ownership back.  

You can't grow a business you can't defend. Every line item on your P&L deserves a real answer when someone asks why it's there. For years as a corporate CFO, I learned a framework for reviewing business expenses that I now use with every Kickstart Accounting client. It is a step-by-step method for small business owners who feel like their profit is leaking somewhere but cannot see exactly where. I walk through how to pull every vendor in your business, grade each one against your actual operations, and create an action plan you can defend. By the end you will know exactly how to bring boardroom-level accountability to your business spending. In this episode of CEO Numbers Network, I break down the expense grading framework into 5 steps any business owner can execute this week. You will learn how to audit every vendor in your business and apply the A/B/C grading system that CFOs use in boardroom reviews. If you have ever felt overwhelmed looking at your P&L or signed up for subscriptions you can no longer defend, this episode gives you the framework to take ownership back.  

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2087: Courtney Luke shares practical ways for small business owners to reduce expenses without sacrificing growth, from automating repetitive tasks to making smarter hiring and marketing decisions. These strategies show how thoughtful cost management can improve efficiency, protect profit margins, and help a business stay financially strong over the long term. Read along with the original article(s) here: https://arrestyourdebt.com/save-money-as-a-small-business-owner/ Quotes to ponder: "One way to reduce costs without cutting staff is through task automation." "If you have specific processes that can be automated, you can save time and money while increasing company efficiency." "Businesses should always be looking for ways to save money while maintaining profitability." Episode references: IRS Form 1099-NEC Information: https://www.irs.gov/forms-pubs/about-form-1099-nec IRS Form 1099 Information: https://www.irs.gov/forms-pubs/about-form-1099-misc Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Power Producers Podcast, David Carothers sits down with Justin Froeber to discuss how business owners and entrepreneurs can strategically use credit card points, loyalty programs, and business expenses to unlock luxury travel experiences and maximize financial efficiency. The conversation dives into travel hacking, reward optimization, business spending strategy, and the hidden opportunities most entrepreneurs overlook when it comes to points and miles. Connect with:  ⁠David Carothers LinkedIn⁠  Visit Websites:  ⁠Power Producer Base Camp⁠  ⁠Killing Commercial⁠  ⁠Crushing Content⁠  ⁠Power Producers Podcast⁠  ⁠Policytee⁠  ⁠The Dirty 130⁠  ⁠The Extra 2 Minute⁠   

This week we're covering the rescheduling of certain marijuana products from Schedule I to Schedule III and what that means for businesses that sell those products.

Send us Fan MailShared expenses. Missing communication. Bookkeeping chaos. What happens when one business owner starts moving between multiple companies, reimbursable expenses, partnerships, and credit cards… but forgets to tell their bookkeeper what's actually happening?In this episode, our favorite Bookkeeping Mensch, Paul Rosenblum, walks through a real bookkeeping situation involving reimbursements between businesses, partnership accounting, balance sheet loans, and how one missing piece of communication nearly created major tax filing problems. But this episode isn't really just about bookkeeping entries. It's about the growing communication gap between business owners and bookkeeping teams, especially in today's remote work environment.If you've ever thought bookkeeping was “just data entry,” or assumed your accountant or bookkeeper would somehow magically figure everything out later, this episode explains why that mindset can become expensive fast.Support the show

Easy way to stop putting business expenses on personal accounts U.S. law firm owner doing $300k–$2M/year? Get a free Law Firm Profit & Tax Checkup where I review your books and tax setup and highlight a few ways similar firms are keeping more of what they earn. Book your checkup here: https://bigbirdaccounting.com

What if every dollar you're already spending in your business could turn into first class flights and bucket list family trips, without touching after-tax money? I sat down with Eli Facenda on The Happy Hustle Podcast, and this one hit different. Eli is the founder of Freedom Travel Systems, known online as "The Travel Guy." He's helped over 1,000 entrepreneurs turn everyday business expenses into 50K+ dream trips and first-class experiences, all through credit card points. The guy once booked a $6,000 business class flight for $6. That moment changed his life, and this episode might change how you think about yours. Eli breaks down the three buckets of the points game: earning the right type of points (flexible bank points from Amex, Chase, or Capital One beat airline cards almost every time), optimizing your travel perks, and actually redeeming points at full value instead of leaving 80% on the table. He also covers how to put payroll, rent, and supplier payments on a card using third-party tools, earning massive points on expenses you never thought could count. Then there's the Freedom Flywheel. Business grows, spending increases, points stack up, and you fund tax-free family vacations without pulling cash from your company. And yes, points from business cards are coded as a rebate, so they're completely tax free. Eli also shares his Five P's Framework for turning any trip into a real core memory: People, Place, Purpose, Possibility, and Presence. It's the difference between a nice vacation and one you'll talk about for the rest of your life. For practical folks, he covers what to avoid, including credit score myths, why you only need two to five cards (not thirty), and how being flexible by even two or three days can save you millions of points on a booking. He's offering two free playbooks for the Happy Hustle community: the CEO Points Playbook and the Payroll on a Credit Card Playbook. Grab both at https://freedomtravelsystems.com/. Listen to the full episode at https://caryjack.com/podcast. What does Happy Hustlin' mean to you? Happy Hustle to me means you're building a business that gives you energy instead of takes it. You're doing it with people you love. You believe in what you do and you're getting to live a great life while you do it. Connect with Elihttps://www.facebook.com/eli.facendahttps://www.instagram.com/elitravelguy/https://www.linkedin.com/in/eli-facenda/https://www.youtube.com/@elifacenda Find Eli on this website: https://freedomtravelsystems.com/ Connect with Cary!https://www.instagram.com/caryjack/https://www.facebook.com/SirCaryJackhttps://www.linkedin.com/in/cary-jack-kendzior/https://twitter.com/thehappyhustlehttps://www.youtube.com/channel/UCFDNsD59tLxv2JfEuSsNMOQ/featured Get a copy of his new book, https://www.thehappyhustle.com/book Sign up for The Journey: 10 Days To Become a Happy Hustler Online Course @ https://thehappyhustle.com/thejourney/ Apply to the Montana Mastermind Epic Camping Adventure @ https://thehappyhustle.com/mastermind/ “It's time to Happy Hustle, a blissfully balanced life you love, full of passion, purpose, and positive impact!” Episode Sponsors: If you're feeling stressed, not sleeping great, or your energy's been kinda meh lately—let me put you on to something that's been a total game-changer for me: Magnesium Breakthrough by BiOptimizers. This ain't your average magnesium—it's got all 7 essential forms that your body needs to chill out, sleep deeper, and feel more balanced. I take it every night and legit notice the difference the next day. No more waking up groggy or tossing and turning all night If you're ready to sleep like a baby, calm your nervous system, and optimize your recovery, go grab yours now at https://www.bioptimizers.com/happy and use code HAPPY10 for 10% OFF. =================================================================== My Green Mattress If you've been waking up with back pain, feeling stiff, or just not getting that deep, quality sleep. This might be what you're missing: My Green Mattress. It's made with clean, non-toxic, and eco-friendly materials, so you're not just sleeping better, you're sleeping healthier too. The comfort and support are on another level, and you can really feel the difference night after night. If you're ready to invest in better sleep and better recovery, check it out at https://thehappyhustle.com/mygreenmattress =================================================================== Ozlo Sleep If you've been struggling to fall asleep, stay asleep, or just wake up feeling actually rested, let me put you on to something that's been a total game-changer: Ozlo Sleep. These aren't your typical sleep buds. They're designed to block out noise and help your brain fully relax, so you can drift off faster and stay in deep, uninterrupted sleep. Perfect if you're a light sleeper or just want that next-level rest. If you're ready to upgrade your sleep and wake up feeling recharged, check out https://ozlosleep.com and save $80 OFF using code HAPPY.

Are you still afraid to deduct certain business expenses because you think the IRS might come after you for it?Meals. Travel. Home office. Vehicle expenses. Software. Education. Coaching. Even paying your kids. These deductions can feel risky when the lines between personal and business spending are not clear.In this episode, Mike breaks down the business expenses many owners skip out of fear, and explains how to think about deductions the right way. You will learn what “ordinary and necessary” really means, why documentation matters more than fear, and why playing it too safe can cost you thousands.

What if the money you're already spending in your child care business could fund free travel around the world? The Friday Child Care Genius Training Podcast is back with a brand-new episode after a period of reruns while Brian Duprey recovered from surgery. In this episode, Brian shares a practical strategy for turning everyday business expenses into powerful rewards using airline credit cards—helping child care owners earn miles, unlock travel perks, and even fly first class without paying first-class prices. If you want simple ways to keep more money in your pocket while getting more value from the expenses you already have, this quick training is packed with ideas you can start using right away.  Mentioned in this episode: Need help with your child care marketing? Reach out! At Child Care Genius Marketing we offer website development, hosting, and security, Google Ads creation and management, done for you social media ads management. For social media content we have the Genius Box, which is a monthly subscription chock full of social media & blog content, as well as a new monthly lead magnet every month! Learn more at Child Care Genius Marketing. https://childcaregenius.com/marketing-solutions/  Schedule a no obligation call to learn more about how we can partner together to ignite your marketing efforts.   If you need help in your child care business, consider joining our coaching programs at Child Care Genius University. Learn More Here. https://childcaregenius.com/university   Connect with us:  Child Care Genius Website Like us on Facebook Join our Owners Only Private Mastermind Group on Facebook    Join our Child Care Mindset Facebook Group Follow Us on Instagram Connect with us on LinkedIn Subscribe to our YouTube Channel Buy our Books Check out our Free Resources

Ross Alcorn is the founder of Itinerary Boss and helps business owners optimize their everyday spending to earn points and miles that translate into luxury travel for free. He's built a successful coaching business in a unique niche and shares his approach in this episode!  What You'll Hear In This Episode:  -       How Ross' love of travel started young, organizing group trips to Europe and snowboarding destinations for friends in his 20s, learning the logistics and credit card points game along the way.  -       How Ross learned the ins and outs of hotel loyalty programs and airline miles firsthand, which became the foundation of his expertise.  -       Ross breaks down the competition in his space: travel agents and concierge booking services, while he focuses on the higher-level strategy of optimizing business spend to maximize points, cash flow, and even tax deductions.  -       The strategy that Ross used to build his business quickly: leveraging his sales background, hiring a VA early, launching a podcast (called "Points, Cards and Travel"), and investing in coaching - which he credits as the biggest accelerator of his growth.  -       What his biggest mistake was, and how he fixed it …  -       Ross' thoughts about AI vs coaching!  LINKS  The 5-Step Roadmap to Your Next Free 5-Star Luxury Vacation http://itineraryboss.kit.com/the-5-step-roadmap-to-your-next-free-5-star-luxury-vacation-the-1-card-that-gets-you-there Points, Cards and Travel Podcast  http://open.spotify.com/show/1mmMJ6z3JdEOUJKUjLh8bD?si=db17ffbb2c5246d6&nd=1&dlsi=29f4de1f73d54514 Book a no-obligation 1:1 strategy call with Marc for your coaching business: http://www.chatwithmarcm.com If you'd like more coaching clients without sending cold messages or spending money on ads, the Natural Born Coach Program is for you. Get the details here! http://www.nbcprogram.com Join The Coaching Jungle Facebook Group! http://www.thecoachingjungle.com Become a Coaching Jungle VIP member which includes special posting perks in the group to reach almost 30,000 potential clients! http://www.myjunglevip.com   Grow your business with The Coaching Jungle Mastermind! http://www.coachingjunglemastermind.com If you have a product or service that helps coaches, and you'd like to get it in front of 100,000 of them: http://www.jvwithmarc.com      

Ready to take a deep dive and learn how to generate personal tax-free cash flow from your corporation? Enroll in our FREE masterclass here and book a call hereAre you sitting on rental or business cash flow that could be quietly accelerating your mortgage payoff and cutting your tax bill at the same time?If you're a Canadian business owner, sole proprietor, or personally hold rental properties, chances are cash flows into your account each month—and then slowly leaks out to cover expenses. In this episode, Kyle and Jon unpack how that “idle” money can be put to work instead of collecting dust, using a strategy that builds on the Smith Manoeuvre without requiring you to go all-in or take on more risk than you can handle. They walk through real-world scenarios, common misconceptions, and the practical constraints that determine whether this strategy fits your situation.By listening, you'll learn how to:Turn non-deductible mortgage interest into deductible business or investment interest using cash damming—without increasing your overall debt.Improve cash-flow efficiency by recycling the same dollars to pay down your mortgage faster while still funding business or rental expenses.Apply the strategy conservatively or aggressively based on interest rates, mortgage rules, and your personal comfort level—so you stay in control.Press play now to see how cash damming could quietly boost your net worth and tax efficiency using money you already have.Discover which phase of wealth creation you are in. Take our quick assessment and you'll receive a custom wealth-building pathway that matches your phase and learn our CRA compliant tax optimized strategies. Take that assessment here.Canadian Wealth Secrets Show Notes Page:Consider reaching out to KylReady to connect? Text us your comment including your phone number for a response!If you listen to podcasts like The Rational Reminder with Ben Felix & Cameron Passmore, The Canadian Investor, The Canadian Real Estate Investor, Build Wealth Canada with Kornel Szrejber, ChooseFI with Jonathan Mendonsa & Brad Barrett, Afford Anything with Paula Pant, The Ramsey Show with Dave Ramsey, BiggerPockets Money, The Money Guy Show with Brian Preston & Bo Hanson, Invest Like the Best with Patrick O'Shaughnessy, Masters in Business with Barry Ritholtz, The Wealthy Barber Podcast with David Chilton, Financial Audit with Caleb Hammer, In the Money with Amber Kanwar, The Loonie Hour with Steve Saretsky, or More Money Podcast with Jessica Moorhouse — we're confident you'll enjoy Canadian Wealth Secrets too.Canadian Wealth Secrets is an informative podcast that digs into the intricacies of building a robust portfolio, maximizing dividend returns, the nuances of real estate investment, and the complexities of business finance, while offering expert advice on wealth management, navigating capital gains tax, and understanding the role of financial institutions in personal finance.

In this episode of Selling Real Estate with Kelly Cook, Kelly Cook breaks down how top producing agents actually run the financial side of their business, from understanding cost of sale and fixed expenses to targeting real profit instead of chasing gross commission awards. Kelly shares industry benchmarks, explains how commission splits impact long term sustainability, why bigger teams often net less than smaller operations, how to evaluate marketing spend using percentage based frameworks, and how reviewing your P&L regularly leads to smarter hiring and growth decisions. If you want to operate like a true business owner and not just a salesperson, this episode delivers practical financial clarity every agent needs.

In this episode of More Than Commas, SFG President Cory Shepherd sits down with CEO of Trail CPA, Trent Trailov, to break down the Qualified Business Income (QBI) deduction and how business owners can strategically use it to reduce taxes. If you earn non-W2 income, own a business, or operate as a consultant, financial professional, or service-based business owner, this conversation walks through who qualifies, income thresholds to watch, and real strategies to maximize tax savings. You'll also hear practical examples showing how the right planning decisions, like business expenses, charitable giving, and retirement contributions, can unlock tens of thousands of dollars in tax savings. -- Timestamps: 03:10 – What Is the Qualified Business Income (QBI) Deduction? 06:15 – QBI Income Phaseouts Explained (Single vs. Married Filers) 08:20 – Real Example: Using Business Expenses to Qualify for QBI 10:55 – Which Businesses Need to Be Careful? (SSTB Rules) 14:05 – Business Expenses vs. Charitable Contributions 16:45 – Additional Strategies to Get Below the QBI Threshold 20:40 – Final Takeaways & What to Watch Going Into 2026    -- This Material is Intended for General Public Use. By providing this material, we are not undertaking to provide investment advice for any specific individual or situation, or to otherwise act in a fiduciary capacity. Please contact one of our financial professionals for guidance and information specific to your individual situation. Sound Financial Inc. dba Sound Financial Group is a registered investment adviser. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Insurance products and services are offered and sold through Sound Financial Inc. dba Sound Financial Group and individually licensed and appointed agents in all appropriate jurisdictions. This podcast is meant for general informational purposes and is not to be construed as tax, legal, or investment advice. You should consult a financial professional regarding your individual situation. Guest speakers are not affiliated with Sound Financial Inc. dba Sound Financial Group unless otherwise stated, and their opinions are their own. Opinions, estimates, forecasts, and statements of financial market trends are based on current market conditions and are subject to change without notice. Past performance is not a guarantee of future results.

Welcome back! It's January, which means tax season is officially upon us—so today I'm sitting down with CPA Charles Harris to kick things off. We're covering the basics—who needs to file, what to know about quarterly payments, and a few key deadlines—so you can feel clear on your next step. And quick note: registration is open for our free Self-Employment Tax Crash Course webinar coming up on February 5. You can find all the details for that at musicstudiostartup.com/tax.   A full transcript and resources from this episode can be found at musicstudiostartup.com/episode178   Resources MSS Entrepreneurs Hub + Mastermind MSS Studio Launch Grant Competition Music Studio Business Building 101 Business Finance for Music Teachers   MSS Tax Podcast Episodes:  162 – Business Travel and Conference Deductions for Music Teachers with Charles Harris, CPA 159 – Tax Prep Service for Music Teachers – Q&A with Charles and Andrea 158 – Charles Harris, CPA on Tax Prep Tips and FAQs for 2025   Tax-related Blog Resources:  Music Teacher Income + Tax Calculator Lowering Taxes with Business Expenses 3 Ways to Track Your Mileage for Tax Purposes 4 Music Teacher Tax Myths 7 Smart Ways to Use a Tax Refund

If you're listening to this episode around the holidays (or WHENEVER you are listening in to this), I want to encourage you to do something that will instantly bring more clarity into your business for 2026 (and for ANY YEAR): forecast your business expenses.In this episode of The Systems and Workflow Magic Podcast (also available as a YouTube video), I'm pulling back the curtain and showing you exactly how I forecast my business expenses for 2026 using my Bookkeeping Template for Creatives. I'm not starting the new year guessing my overhead.And friend, forecasting is NOT “predicting the future.” It's taking the best data you already have (like your 2025 expenses + recurring subscriptions) and making an informed plan so you can price confidently, set realistic goals, and run your photography business (or creative business) sustainably.Resources & Links Mentioned In This Episode▸ Read the full blog post that goes with this episode (that way, you get all the links mentioned): https://systemsandworkflowmagic.com/end-of-year-planning-family-photographers/▸ Snag The Bookkeeping Template For Creatives Here: https://systemsandworkflowmagic.com/bookkeeping-template▸ Get 25% OFF on Flodesk here: https://flodesk.com/c/DOLLYDELONGEDUCATION▸ Join the Family Photographer's Marketing Society: https://systemsandworkflowmagic.com/the-family-photographers-marketing-society▸Need a bookkeeper? Check out my amazing Bookkeeper here: https://www.willabbybookkeeping.com/Connect with Dolly DeLong Education

Have you been meaning to review your business expenses but keep putting it off? This episode will give you the dopamine hit AND the accountability you need to finally tackle this money-saving goldmine.Leonie just completed her six-monthly expense challenge and uncovered $28,000 in annual savings—and she's not done yet. From discovering her email provider was charging her $18,000/year to finding $3,000 in hidden bank fees, this brutally honest conversation reveals exactly where your business money is probably leaking right now.

Want to learn more about Vodyssey or start your STR journey. Book a call here:https://meetings.hubspot.com/vodysseystrategysession/booknow?utm_source=vodysseycom&uuid=80fb7859-b8f4-40d1-a31d-15a5caa687b7Contact Ross:https://itineraryboss.com/https://www.instagram.com/rossalcorn33/?hl=enhttps://www.youtube.com/@ItineraryBosshttps://www.linkedin.com/in/rossalcornru/https://open.spotify.com/show/1mmMJ6z3JdEOUJKUjLh8bD?si=fd290a47a091494dTALKED ABOUT SERVICE:https://www.rakuten.com/FOLLOW US:https://www.facebook.com/share/g/16XJMvMbVo/https://www.instagram.com/vodysseyshawnmoorehttps://www.facebook.com/vodysseyshawnmoore/https://www.linkedin.com/company/str-financial-freedomhttps://www.tiktok.com/@vodysseyshawnmoore

Today, we're talking about the world of business deductions and breaking down what they really mean for entrepreneurs and business owners. I'll walk you through what counts as a deductible expense, how deductions work, and why it's so important to be able to defend your business decisions.   I'll also explain the difference between deductions and tax credits, what makes an expense truly deductible, and why documentation is everything. Plus, I'm sharing practical tips on how to categorize expenses properly, stay off the IRS radar, and make the most of every deduction available to you.   What you'll hear in this episode: [0:45] Understanding Deductions for Entrepreneurs [01:50] Defining and Defending Deductions [03:45] IRS Guidelines and Business Expenses [07:35] Documentation and Diverse Categories   If you like this episode, check out: Think Bigger Than a Niche How to Build Investor-Ready Financials Why The Rich Pay No Taxes and You Feel Left Out   Learn more about our CFO firm and services: https://www.keepwhatyouearn.com/   Connect with Shannon: https://www.linkedin.com/in/shannonweinstein Watch full episodes: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Follow along on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. We love enthusiastic action, but please consult a qualified professional before implementing anything you learn.

Real estate attorney Dave Schlueter, who works with the Law Offices of Dave Schlueter Ltd., joins Jon Hansen on Your Money Matters. Dave talks about the risks of mixing expenses and why your finances should be kept separate. To learn more about what Dave Schlueter can help you with, go to schlueterlawoffice.com or call 1-630-285-5300.

Are you leaving thousands of dollars on the table? Most business owners are. In this episode, Tiffany Phillips shares how smart tax planning can turn travel into legitimate business deductions. Forget the old advice that says, “Don't risk it.” Wealthy entrepreneurs have been using these strategies for decades—and you can too. You'll learn the Four Pillars of audit-proof business travel, how to avoid costly mistakes, and real stories from business owners who saved big with proper documentation. Tiffany breaks down what you can write off, what you can't, and how to structure trips so they pass IRS rules. This isn't about loopholes—it's about knowing the tax strategies already built into the law. If you're ready to stop overpaying and start keeping more of what you earn, this episode is for you. Tune in now and discover how to make your next trip a smart business move.   Next Steps:

Daigo Sato's presentation at the JRE Summit, autumn 2025.

Send us a textIn this episode of Mike and Blaine, we tackle one of the toughest parts of running a business—cutting costs without cutting corners. Some owners approach expense reduction like a surgeon—precise, deliberate, and strategic—while others swing the axe wildly and end up hurting their own growth. Mike and Blaine break down how to trim the fat and keep the muscle in your business.You'll learn when to make small, smart cuts versus when to make bold moves, how to spot waste hiding in plain sight, and why your expense spreadsheet may be lying to you. We also share real stories from businesses that nailed their cost-cutting strategy—and a few that didn't. If you've ever stared at your budget wondering what stays and what goes, this episode is your playbook for cutting the right way.#businesspodcast #entrepreneurship #smallbusiness #cashflow #mikeandblaine #businessgrowth #costcutting #financialmanagement #businessadvice #profitability

Welcome back to the Empower Her Business Accelerator podcast! I'm your host, Philippa Channer, and I'm beyond thrilled to welcome you to this very special 200th episode!

Book your FREE Business Audit Call Now: https://www.7fss.com/book-a-callusy7mfsi?htrafficsource=youtube=970expensesWant a FREE copy of our 5C Million Dollar Content & Ads Course - Click here : https://www.charlieslivetraining.com/7fss-4c?el=970expenses&htrafficsource=youtube=Connect With Me On Other Platforms:Instagram: @charliejohnsonfitnesshttps://www.instagram.com/charliejohnsonfitness/Instagram: @sevenfigurescalingsystemshttps://www.instagram.com/sevenfigurescalingsystems/Podcast: The Charlie Johnson Showhttps://podcasts.apple.com/ae/podcast/physically-jacked-financially-stacked/id1671480628LinkedIn : Charlie Johnsonhttps://www.linkedin.com/in/charlie-johnson-fitness/Book your FREE Business Audit Call Now: https://www.7fss.com/7fss-vsl-yt?htrafficsource=youtube&el=Want a FREE copy of our 4C Million Dollar Content & Ads Course - Click here : https://charlieslivetraining.com/4cmain?htrafficsource=youtube&el=Connect With Me On Other Platforms:Instagram: @charliejohnsonfitnesshttps://www.instagram.com/charliejohnsonfitness/Instagram: @sevenfigurescalingsystemshttps://www.instagram.com/sevenfigurescalingsystems/Podcast: The Charlie Johnson Showhttps://podcasts.apple.com/ae/podcast/physically-jacked-financially-stacked/id1671480628LinkedIn : Charlie Johnsonhttps://www.linkedin.com/in/charlie-johnson-fitness Hosted on Acast. See acast.com/privacy for more information.

In this conversation, Garry Ashton speaks with Mikey and Olive from Creeks Garden Care about their journey from youth work to starting a gardening business. They discuss the challenges of naming a business, the transition from employment to entrepreneurship, pricing strategies, and the importance of networking within the industry. The conversation also touches on equipment choices, financial management, and the significance of understanding tax implications for small business owners. In this conversation, Garry Ashton and Mikey discuss various aspects of running a landscaping business, including the importance of understanding business expenses, pricing strategies, and the significance of reliability in service. They share personal experiences with challenges, setbacks, and the role of professionalism in the industry. The discussion also touches on the integration of landscape design and maintenance, the impact of technology, and the importance of networking and referrals in building a successful business. Mikey emphasizes the need to find a niche and balance design with functionality in landscaping projects. fun doing this interview and I know you'll find value in so many of the topics we covered. Join www.sortscape.com.au/lawnstars for one of the best systems to help you succeed.

Like the show? Show your support by using our sponsors.Promotive can help you find your dream job. Touch HERE to see open jobs.Need to update your shop systems and software? Try Tekmetric HEREToday, Jeff sits down at Tools 2025 with Paul Danner (ScannerDanner), Keith Perkins, and Check Engine Chuck. Paul shares updates on the SD Charities initiative and highlights the importance of giving back to the community, including a tool auction supporting an auto tech school in Senegal. Keith and Chuck discuss the challenges and rewards of growing their businesses, from shop expansion to personal journeys in technical skill development. The group engages in an honest conversation about industry image, the need for higher labor rates, and the vital role of technician recognition and continued networking.00:00 "Tools 2025: Meeting Success"05:24 Supporting Solar for African Schools12:01 "Striving for Effective Communication"20:58 Promotional Shorts and Circuit Troubleshooting24:27 Accountability in Vehicle Repairs27:36 Online Creators' Ethical Responsibility33:19 "Revamping Labor Rates in Trades"40:18 "Profitability of Brake Suspension Work"47:15 Seeking Appreciation and Change50:32 "Rethinking Industry Value Perception"57:21 Paul's Dubious Car Flipping Tactics58:35 U-Haul's Business Model Explained01:08:00 Mutual Respect and Encouragement01:14:01 "Collaborate Beyond Platforms" Follow/Subscribe to the show on social media! TikTok - https://www.tiktok.com/@jeffcompton7YouTube - https://www.youtube.com/@TheJadedMechanicFacebook - https://www.facebook.com/profile.php?id=100091347564232

Think your ad budget only buys clicks? Think again.In this episode, Alexander sits down with influencer and travel expert Julia Menez of GeoBreeze Travel.Julia shares incredible advice that helps business owners flip everyday expenses into travel rewards—without shelling out extra cash.Her typical client spends about $10k out of pocket... and gets over $100k in premium flights and hotels.Yeah, you read that right: $100k in premium benefits.In this podcast, you'll learn…

Welcome to a new episode of Business Lunch! In this conversation, Roland Frasier and Ryan Deiss break down one of their favorite business strategies: using partnerships to scale without extra capital or risk. If you're an entrepreneur, founder, or marketer looking to grow your business faster (and smarter), this episode is for you. Roland and Ryan reveal how to create strategic partnerships that can exponentially increase your reach, resources, and revenue without spending a dollar more on ads or infrastructure.Highlights:“If you can't write down the offer in a sentence, it's probably not going to work.”“The best partnerships solve a need for both sides.”“Speed to implementation is everything.”“You get further when you grow together.”Timestamps:00:00 Introduction01:54 A Definition of Partnership Marketing04:40 The Difference Between Affiliate and Strategic Partnerships07:30 How to Identify the Right Partners10:45 Crafting a Compelling Partnership Offer15:10 The 9 Core Areas Where Partnerships Can Drive Growth21:03 Example: Scaling a Software Business Without Spending a Dime26:12 The Importance of Speed and Simplicity31:30 Avoiding the Most Common Pitfalls35:58 Final Advice for EntrepreneursCONNECT • Ask Roland a question HERE.RESOURCES:• 7 Steps to Scalable workbook • Get my book, Zero Down, FREETo learn more about Roland Frasier

As an entrepreneur, you know that every dollar counts, so today we're taking a deep dive into a topic that can save business owners thousands of dollars: deductible business expenses. In this episode, we'll cover what makes an expense deductible, the savings that come with deductions, unexpected deductions, and the importance of bookkeeping. By the end of the episode, you'll have a clear picture of how to make the most of your expenses and keep your money in your business. Episode Highlights Deductible expenses must be ordinary and necessary. Deductions are powerful. Every dollar you deduct reduces your taxable income, directly lowering the amount of taxes you owe. However, in order to deduct a business expense, two key rules must be satisfied: the expense must be ordinary and necessary. To be ordinary, the expense must be common and accepted in your industry, such as a yoga mat for a yoga instructor. To be necessary, the expense must be helpful and appropriate for your business operations. Before you write off something, ask yourself whether a business like yours typically needs this type of expense and does it serve a legitimate business function? If the answer is yes, you may have a deduction on your hands. Don't forget unexpected deductions. While rent and office supplies may come to mind as deductible business expenses, consider whether these unexpected events apply to you: Pet expenses -- If a dog protects your office or warehouse, the dog's food, training, and vet bills may be deductible. Coaching -- Hiring a business coach, taking leadership training, and even going to therapy for stress management related to business all might qualify as expenses needed to run and lead a company. Your home office -- If you have a dedicated space in your home exclusively used for business, you can write off some of your rent, utilities, and internet costs. Marketing and promotions -- Hosting an industry event, running a giveaway, collaborating with influencers, and paying for digital ads all count as deductible expenses as long as they are directly tied to promoting your business. Work-related attire -- Buying branded uniforms or specialized attire for your business are legitimate business expenses. Business retreats -- If you take your team on a business retreat to strategize and improve company culture, that expense could be deductible. Make sure you document the business purpose with an agenda and good notes. Good bookkeeping is just as important as knowing the rules. Without solid record keeping, you might miss valuable deductions or struggle to justify an expense in the event of an audit. Here are some tips to keep your books in order: Separate personal and business finances -- Keeping separate personal and business bank accounts and credit cards makes tracking deductible business expenses much more manageable.  Use accounting software -- Accounting software, such as Quickbooks or Wave, can help automate tracking, helping to ensure nothing gets overlooked when tax season rolls around. Save your receipts -- The IRS requires proof of deductions, so keep digital or physical copies of receipts and invoices. Work with a professional -- A professional bookkeeper or accountant can help you keep your financial records accurate and compliant. Resources + Links Brian Thompson Financial: Website, Newsletter, Podcast Follow Brian Thompson Online: Instagram, Facebook, LinkedIn, X, Forbes About Brian and the Mission Driven Business Podcast Brian Thompson, JD/CFP, is a tax attorney and Certified Financial Planner® who specializes in providing comprehensive financial planning to LGBTQ+ entrepreneurs who run mission-driven businesses. The Mission Driven Business podcast was born out of his passion for helping social entrepreneurs create businesses with purpose and profit. On the podcast, Brian talks with diverse entrepreneurs and the people who support them. Listeners hear stories of experiences, strength, and hope and get practical advice to help them build businesses that might just change the world, too.

Send us a textBuckle up, because in this episode of Investing RN, Colin and Josh sit down with tax attorney Sam Bruntz to uncover the sneaky ways you're probably overpaying Uncle Sam. Ever wondered what the difference is between a CPA and a tax attorney? Or if you can write off that "business" golf trip? Sam spills the beans on tax loopholes, audit nightmares, and the fine line between "gray area" and "prison".Oh, and don't even think about putting your toddler on payroll unless you want the IRS knocking at your door.

When it comes to tax deductions and business expenses, business owners can often fall into two extreme mindsets, either trying to deduct everything under the sun or being too conservative and missing out on legitimate tax savings. In this episode, Danielle Hayden, CEO and founder of Kickstart Accounting, Inc., and Kelsey Chester, Kickstart's Lead Account Manager, break down tax deductions in a way that's clear and strategic. They'll walk you through what truly qualifies as a business expense, how to avoid common tax mistakes, and why smart financial planning is about more than just lowering your tax bill, while still claiming the savings you deserve. Key Takeaways:  Understand the “Ordinary & Necessary” Rule: The IRS allows deductions for expenses that are common in your industry and essential for running your business. If you can clearly explain the expense's purpose in an audit, you're likely in the clear! Avoid IRS Red Flags: Overspending on out-of-the-ordinary purchases or misclassifying personal expenses as business ones can trigger unwanted IRS attention. Your Business's Health & Goals Matter: Trying to write off too many personal expenses can hurt your ability to get business loans or sell your company later.  Separate Business & Personal Finances: Keep all business expenses on a business account or card to ensure clean, organized records. Your bookkeeper can only track and make deductions based on what they see in your business accounts.  Smart Travel Deductions: Business travel is deductible, but the primary purpose must be work-related. A "board meeting" at Disney with your family? Not so much. Invest in the Right Money Team: Your bookkeeper, accountant, and tax strategist should be working to keep your finances organized, tax-efficient, and strategically planned all year long, not just at tax time. Think Long-Term with Tax Strategy: Lowering your tax bill is great, but don't do it at the expense of your business's future. Plan ahead so deductions today don't limit growth opportunities tomorrow. Topics Discussed: What Qualifies as a Business Expense? (00:00:06 – 00:02:14) Finding the Right Balance with Business Expense Deductions (00:02:14 – 00:05:37) The Importance of Paying Yourself a Reasonable Compensation (00:05:37 - 00:07:45) Common Business Expenses & What You Should Be Deducting (00:07:45 – 00:12:55) Operating & Personal Expenses: What's Deductible? (00:12:55 – 00:20:52) Travel Expenses: What's Legitimate vs. What's Risky (00:20:52 – 00:22:54) Tax Strategy & Planning with Your Money Team (00:23:39 – 00:29:25)   Resources: Episode 211 | The Smart Way to File Taxes: Why Tax Extensions Are Better Than Last-Minute Filings Episode 212 | How to Pay Yourself as an S Corp Owner: Reasonable Compensation & Payroll Setup Episode 213 | The Tax Write-Offs You're Missing as a Business Owner Episode 126 | Small Business Gift Giving: A Holiday Tax Guide Episode 136 | Health Care Tax Deductions for Small Business Owners Explained  Episode 137 | Can You Legally Hire Your Children?: How to Pay Your Kids, Get Tax Advantages, & Create Generational Wealth Episode 188 | Beyond the Business: Preparing for a Secure Retirement   KSA Tax Partners | https://ksataxpartners.com/    Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

Today I discuss the common issue of commingling personal and business expenses, a practice that many entrepreneurs unintentionally fall into. While it's understandable to make occasional mistakes, it's vital to know how to handle these situations to avoid significant repercussions like audits. I'll share key pointers on why recurring personal expenses should never go through your business account and how to better manage your personal finances. Additionally, I'll explain why it's smarter to increase your salary or distributions rather than mix expenses, and how frequent usage of your business card for personal transactions can cost you more in bookkeeping fees without offering any tax benefits. Tune in to learn strategies for maintaining a clear distinction between your personal and business finances, making informed decisions, and knowing when and how to take aggressive tax positions responsibly.   What You'll hear in this episode: [0:50] The Reality of Commingling Personal and Business Expenses [1:25] Key Points on Handling Personal Expenses in Business [5:25] Mindset Differences and Financial Awareness [6:55] The Cost of Commingling and Aggressive Tax Positions   If you like this episode, check out: What Actually Happens If I Commingle Business and Personal Finances? How Can Three Simple Steps Ease Tax Season Anxiety? What Qualifies as a Deduction   Want to learn more so you can earn more?  Visit keepwhatyouearn.com to dive deeper on our episodes  Visit keepwhatyouearncfo.com to work with Shannon and her team  Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Don't get to the end of this year wishing you had taken action to change your business and your life.Click here to schedule a free discovery call for your business: https://geni.us/IFORABEShop-Ware gives you the tools to provide your shop with everything needed to become optimally profitable.Click here to schedule a free demo: https://info.shop-ware.com/profitabilityUtilize the fastest and easiest way to look up and order parts and tires with PartsTech absolutely free.Click here to get started: https://geni.us/PartsTechTransform your shop's marketing with the best in the automotive industry, Shop Marketing Pros!Get a free audit of your shop's current marketing by clicking here: https://geni.us/ShopMarketingPros In this episode, Lucas and David are joined by Frank Scandura, owner of Frank's European Service in Las Vegas and a coach for Transformers Institute. Frank shares his insights on several pressing industry issues, including the challenges posed by increasing costs of business and the strain it puts on shop owners. He emphasizes the importance of maintaining strong ethical standards and focusing on people over profits, arguing that this approach will ultimately lead to success. 00:00 "Frank's Industry Insight"08:14 Evolving Car Industry Loyalty14:51 Impatient Car Owners16:44 The Ruthless Business Shift23:32 Balancing Coach Guidance and Growth30:44 "Planning for Business Ownership"35:38 Business Continuity Planning37:10 Uninsured Flood Devastates Businesses43:25 Is Solo Business Financially Viable?50:44 Premium Service Pitch Lacking Training54:04 Unintended Business Incentive Issues01:01:47 Advisor Troubles Reduce Shop Revenue01:03:24 Businesses Lack Flood Insurance

Are you starting your franchise journey? Avoid these common rookie mistakes that can cost you time and money!Franchise expert Giuseppe Grammatico shares his top 5 pitfalls to avoid, based on his 20 years of experience. Learn how to set yourself up for success from day one and build a thriving franchise business. Like, comment, and subscribe for more franchise freedom tips! Connect with Franchise Freedom on:Website: https://ggthefranchiseguide.com/podcast/LinkedIn: https://www.linkedin.com/in/giuseppe-grammatico/Facebook: https://www.facebook.com/GGTheFranchiseGuideX: https://twitter.com/ggfranchguideInstagram: https://www.instagram.com/ggthefranchiseguide/YouTube: https://www.youtube.com/@ggthefranchiseguideApple: https://podcasts.apple.com/us/podcast/franchise-freedom/id1499864638Spotify: https://open.spotify.com/show/13LTN5UzA57w2dTB4iV0fmThe Franchise Freedom: Discover Your New Path to Freedom Through Franchise Ownership, Book by Giuseppe Grammatico https://ggthefranchiseguide.com/book or purchase directly on Amazon.

As we kick off 2025, it's time to align our business goals with our spending. Remember when we all canceled cable to save money but ended up with ten streaming services? Yeah, subscriptions can add up, both personally and professionally! In today's episode, reformed corporate CFO and founder of Kickstart Accounting, Inc., Danielle Hayden, tackles a sneaky area of your budget: business subscriptions. They may seem small, but they can snowball into big costs, and possibly outgrow their usefulness. With this 5-step plan, let's audit those expenses and make sure every dollar spent supports your goals. Key Takeaways:  Start with Intention: Set your 2025 intentions before diving in. Clarity on your goals is essential before evaluating expenses! Step 1 - Audit Your Subscriptions:  Pull all recurring expenses using your accounting software. Include monthly, quarterly, and annual subscriptions. Organize your data: list vendors, costs, functions, and usage frequency. Step 2 - Evaluate by Asking the Big Questions:  Does this subscription align with your 2025 focus? Does it provide ROI, i.e. saving time, generating leads, or improving efficiency? Is it still suitable for your current business stage? Step 3 - Decision Time:  Cut: If it no longer serves your goals or offers ROI. Keep: If it's essential, but review it mid-year for relevance. Optimize: Train your team, use advanced features, and ensure maximum value. Step 4 - Present Your Findings: Share what you found with an accountability partner, whether it be your board, team, or bookkeeper. Step 5 - Conduct Regular Reviews: Schedule quarterly reviews to ensure your subscriptions are still aligned with your business goals and driving growth.  Pro Tip: Budgets aren't about restrictions; they're about spending intentionally. Create a plan that aligns expenses with your revenue and goals. Topics Discussed: Audit Your Subscriptions (00:01:22 – 00:06:35) Evaluate by Asking the Big Questions (00:06:35 – 00:14:35) Decide to Cut, Keep, or Optimize (00:14:35 – 00:16:37) Regular Reviews and Presenting Findings (00:16:37 – 00:17:06) Budgeting Pro Tip  (00:17:30 – 00:17:55) 5-Step Subscription Audit Plan Summary (00:17:55 – 00:18:54)   Resources: Episode 203 | Ditch New Year's Resolutions and Build Habits for Sustainable Business Growth   Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

Right About Now with Ryan AlfordJoin media personality and marketing expert Ryan Alford as he dives into dynamic conversations with top entrepreneurs, marketers, and influencers. "Right About Now" brings you actionable insights on business, marketing, and personal branding, helping you stay ahead in today's fast-paced digital world. Whether it's exploring how character and charisma can make millions or unveiling the strategies behind viral success, Ryan delivers a fresh perspective with every episode. Perfect for anyone looking to elevate their business game and unlock their full potential.Resources:Right About Now NewsletterFree Podcast Monetization CourseJoin The NetworkFollow Us On InstagramSubscribe To Our Youtube ChannelVibe Science MediaSUMMARY In this episode of "Right About Now," hosted by Ryan Alford, tax attorney Mark J. Kohler, known as the "Main Street Tax Attorney," shares actionable advice for small business owners and individuals to improve their financial situations through effective tax strategies. Kohler emphasizes the importance of understanding tax laws, treating side hustles as legitimate businesses, and taking an active role in tax planning. He discusses practical tips like documenting expenses, involving family in business activities, and leveraging tax benefits for children. The episode aims to empower listeners with knowledge to maximize financial growth and navigate tax complexities.TAKEAWAYSImportance of small businesses in the U.S. economyUnderstanding tax laws and their implications for financial successCommon tax-related challenges faced by small business ownersThe rise of side hustles and their potential for tax savingsTax strategies for maximizing financial benefits for small businessesDifferentiating between tax brackets and effective tax ratesLearning from wealthy individuals about tax engagementThe necessity of a proactive mindset in managing tax responsibilitiesPractical advice for treating side hustles as legitimate businessesThe significance of documentation and record-keeping for tax planning If you enjoyed this episode and want to learn more, join Ryan's newsletter https://ryanalford.com/newsletter/ to get Ferrari level advice daily for FREE. Learn how to build a 7 figure business from your personal brand by signing up for a FREE introduction to personal branding https://ryanalford.com/personalbranding. Learn more by visiting our website at www.ryanisright.comSubscribe to our YouTube channel www.youtube.com/@RightAboutNowwithRyanAlford.

Wondering how to achieve financial success as a rodeo athlete? Join us on Beyond the Rodeo for an enlightening conversation with Justin Bates, WSF provider and rodeo athlete turned financial planner. Justin's unique journey from bull riding in the heart of northwest Arkansas to advising athletes on financial acumen provides rare insights into the world of Western sports financial management. Through his work with Western Sports Foundation, Justin is dedicated to elevating financial literacy among rodeo athletes, especially in communities where financial resources are scarce. In this episode, Justin shares practical strategies that rodeo athletes can use to keep their finances in check. Learn about the crucial distinction between personal and business expenses and how simple actions like setting up separate checking accounts can streamline financial management. Justin provides expert advice on leveraging credit cards for travel expenses without falling into common traps, and we discuss the importance of organized record-keeping to maximize tax deductions.  Finally, Justin explores how rodeo athletes can secure their financial futures beyond their careers in the arena. From saving a portion of their winnings for retirement to investing in low-risk growth options, the episode is packed with actionable advice. We cover essential topics like tax management, budgeting, and the significant impact of financial literacy on future success. With guidance from mentors and the use of simple tools, athletes can prepare for life after rodeo, ensuring they not only compete with confidence but also thrive financially in the long run.

In this episode of the Wonderland on Points Podcast, we're joined by one of our favorite fellow podcasters, Devon Gimbel from Point Me To First Class. Devon is a master at helping business owners turn everyday expenses into thousands of dollars worth of free travel. Whether you have a high-spending business or are just getting started with a side hustle, Devon shares his expert tips for making your business spend work harder for you.We dive into the best credit card options for every type of business, including those with smaller budgets. Devon also helps us navigate the ins and outs of using credit cards for tax payments, and shares his advice for maximizing rewards no matter the size of your business. She also tells us all about her most aspirational redemptions, and we discuss sweet spots flights out of Chicago.Even if you don't own a business, this episode is full of valuable insights that anyone can apply to their personal travel goals. We talk about how “first class” isn't just about the seat—it's about making your dream travel experiences a reality.Tune in to learn how to maximize your spending, earn more rewards, and turn your dream vacation into a reality!Facebook Group | Support the Show: Buy Us A CoffeeFind Us On InstagramMary Ellen | Jo | DevonMentioned In This EpisodePoint Me To First Class WebsitePoint Me To First Class PodcastOur Family PassportHassans On HolidayAffiliate LinksCredit Card Referral LinksThe above link includes referrals for almost all travel cards (AMEX, CapitalOne, co-branded cards)If you need Chase links please reach out! We would be happy to send you our personal referral links.Using our links is an amazing way to show your support for the show at no cost to you ❤️

Today, I'm continuing my series about year-end tax saving tips and giving you some strategies on how you can maximize your tax deductions as an entrepreneur using business expenses.    Join me in this informative episode to learn how you can prioritize your bookkeeping and accelerate your expenses to make sure you get the most out of your tax deductions this upcoming year.    Also mentioned in today's episode:    The importance of bookkeeping 2:25 Expense acceleration tips 14:14 Year end spending recommendations 21:46   If you enjoyed this episode, please rate, review and share it!  Links: Free mini-course on the new LLC report  

Thanks to our sponsor Promotive! Find your dream job today: gopromotive.com/jeff Jeff Compton, George Wilkins, and Lucas Underwood discuss the importance of addressing negative behaviors early to prevent severe consequences in adulthood. Jeff vocally champions maintaining supportive relationships among colleagues and friends, emphasizing how they help overcome personal and professional challenges. Lucas elaborates on the necessity of process development and impact assessment when vetting new ideas before implementation.  Follow/Subscribe to the show on social media! TikTok - https://www.tiktok.com/@jeffcompton7YouTube - https://www.youtube.com/@TheJadedMechanicFacebook - https://www.facebook.com/profile.php?id=100091347564232

Listen as Paul Abernathy, CEO, and Founder of Electrical Code Academy, Inc., the leading electrical educator in the country, discusses electrical code, electrical trade, and electrical business-related topics to help electricians maximize their knowledge and industry investment.n this episode, Paul will talk about tips on keeping your business and personal expenses seperate using a business credit card. Making sure you have an easy way to keep track of your expenses will make like so much easier as a new or established contractor. Listen as Paul tells you how he does it.If you are looking to learn more about the National Electrical Code, for electrical exam preparation, or to better your knowledge of the NEC then visits https://fasttraxsystem.com for all the electrical code training you will ever need by the leading electrical educator in the country with the best NEC learning program on the planet.Become a supporter of this podcast: https://www.spreaker.com/podcast/master-the-nec-podcast--1083733/support.

#200: Take control of your taxes and save money with unique strategies from tax expert Jasmine DiLucci. Learn how to leverage IRS transcripts, identify misleading tax advice, and differentiate between personal and business deductions. We also cover common audit triggers and valuable tax planning advice for business owners. Jasmine DiLucci is a seasoned tax attorney, Certified Public Accountant, and Enrolled Agent with over a decade of experience. She specializes in tax controversy, litigation, IRS collections, payroll debt disputes, penalty abatements, and audit representation. Link to Full Show Notes: https://chrishutchins.com/tax-savings-2024-jasmine-dilucci Partner Deals Cultural Care: Get $250 off the most reliable and trustworthy au pairs 1Password: Free 2-week trial of my favorite password manager Mint Mobile: $15/mo for unlimited wireless on the nation's largest 5G network NetSuite: Free KPI checklist to upgrade your business performance Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals Resources Mentioned Jasmine DiLucci: YouTube | Website Request IRS Transcripts Donor-Advised Fund: Daffy (Free $25 for charity) ATH Podcast: Chris' Newsletter: Subscribe Ep #50: The Power (and Tax Savings) of Charitable Giving with Adam Nash Ep #62: Protect Your Family, Mitigate Taxes and Preserve Your Wealth with Patrick and Mani Ep #147: How to Save on Taxes with Ankur Nagpal Full Show Notes (00:00) Introduction (02:09) Why There's So Much Bad Tax Advice (05:17) Debating for Business Expenses vs. Personal Expenses (07:36) Can You Hire Your Kids to Work for You? (10:31) Ways to Identify Good and Bad Tax Advice Online (14:07) What Actually Happens When You Get Audited by the IRS (20:13) Do Credit Card Transactions Justify Receipts? (21:32) Common Things That Would Flag Audits (24:13) The Importance of IRS Transcripts (28:55) What Happens When the IRS Delays a Payment (30:33) Jasmine's Advice to Minimize Tax Penalties (32:36) What Kind of Tax Documents Can Have Errors? (34:44) Filing Using Tax Tool vs. Tax Expert (38:55) Chris' EOY Tax Checklist (43:41) Business Tax: Setting Up S Corps vs. LLCs (45:07) Changes to Expect in the Near Future (49:30) Where to Find Jasmine Connect with Chris Newsletter | Membership | Twitter | Instagram | LinkedIn Editor's Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. Learn more about your ad choices. Visit megaphone.fm/adchoices

Send us a textHave you ever wondered if you could deduct a mentorship program paid for on your personal card before starting your business?In this episode, Mike Jesowshek, a CPA, hosts a listener Q&A session addressing various tax-related questions from small business owners. He covers topics such as deducting business expenses, managing mentorship payments, selling a business, and handling high medical costs for business owners. Mike provides clear guidance on tax planning strategies and the importance of keeping thorough documentation for deductions, while also offering practical advice on avoiding issues with hobby loss rules and S-Corp-specific challenges.Learn how to maximize your business deductions and avoid common tax pitfalls in this Q&A episode![00:00 - 00:40] IntroductionMike Encourages listeners to submit their tax-related questions via the website.[00:40 - 05:23] Business Deductions and Selling a BusinessMike explains that expenses can still be deducted if they're legitimate business expenses and provides guidance on using an accountable plan for reimbursement.He discusses the validity of taking business deductions even when a business has minimal income.There is a need for consistent profit to be considered a legitimate business.[05:23 - 10:23] Section 105 Plans and Ownership Draws in an S-CorpMike details how to set up a family management company to use the Section 105 plan if operating as an S-Corp and hiring a spouse.He also emphasizes that distributions must be proportional to ownership percentages in S-Corps to avoid tax issues.[10:23 - 16:11] Travel Deductions and ConsultationsMike covers travel deductions when charging clients a travel fee and offers advice on setting up tax consultations through his company. He clarifies that even if a travel fee is charged to a client, the associated travel expenses can still be deducted.[16:11 - 21:02] Business Expenses and Accountable PlansMike emphasizes that while the deductions remain the same, the IRS prefers business-related expenses to be run through business accounts.  Owner draws are not taxed directly; instead, taxes are based on the profit of the business, regardless of how much is drawn from the account.  [21:02 - 24:10] Tax Helm Services and ConsultationsMike highlights Tax Helm's services, which include consultations and comprehensive tax planning for small businesses, with a guarantee to provide tax savings that cover the cost of the service.  Direct Quotes:“Just because you paid for it personally, doesn't mean you lose the deduction—it's still a valid business expense if it's related to your business.” - Mike Jesowshek, CPA“The IRS always wants to see that you're running your business like a business, not like a hobby.” - Mike Jesowshek, CPACheck out this episode's blog post: https://www.taxsavingspodcast.com/blog/listener-q-a-with-mike-jesowshek-cpa-10-16-2024 _____Podcast Host: Mike Jesowshek, CPA - Founder and Host of Small Business Tax Savings PodcastJoin TaxElm: https://taxelm.com/-------Podcast Website: https://www.TaxSavingsPodcast.comFacebook Group: https://www.facebook.com/groups/taxsavings/

In this episode of "Right About Now," host Ryan Alford sits down with Ryan Moriarty, president of Done For You Tax, to explore essential tax strategies for small businesses. Moriarty reflects on his journey from computer science to accounting, sharing how his technical background shapes his approach to tax management. He dives into the importance of accurate bookkeeping and addresses common fears surrounding taxes. Throughout the conversation, Moriarty highlights how advancements in technology and AI have revolutionized accounting, making it more accessible and cost-effective for small business owners. He also offers practical tax advice, including tips on home office deductions, vehicle expenses, and the importance of meticulous documentation to prevent audit risks. This episode is packed with valuable insights aimed at empowering small business owners with the tools and knowledge they need for smarter financial management.TAKEAWAYSImportance of tax management for small businessesRole of bookkeeping in successful tax filingCommon fears and misconceptions about taxesTarget audience for affordable accounting servicesImpact of technology on accounting efficiencyIntegration of artificial intelligence in bookkeepingClient involvement in the accounting processUnderstanding tax audits and preparationPractical tax tips for small business ownersOverlooked deductions and common pitfalls in tax filingTIMESTAMPSIntroduction to Taxes (00:00:00)Discussion on the importance of understanding taxes and maximizing savings within legal boundaries.Podcast Introduction (00:00:09)Ryan Alford introduces the podcast, highlighting its popularity and engaging tone.Welcome to the Episode (00:00:32)Ryan Alford sets the stage for the episode's focus on taxes, emphasizing its relevance.Guest Introduction (00:00:56)Ryan Alford introduces Ryan Moriarty, president of Done For You Taxcom.Personal Life Update (00:01:54)Ryan Moriarty shares his personal happiness living in Puerto Rico with family.Moriarty's Background (00:02:25)Ryan Moriarty discusses his journey from computer science to founding an accounting firm.The Nature of Taxes (00:03:27)Ryan Alford and Moriarty explore the complexities and societal implications of taxes.Maximizing Tax Savings (00:04:13)Moriarty emphasizes the importance of following tax laws to maximize savings.Fear and Trepidation Around Taxes (00:04:42)Discussion on the common fears and lack of knowledge people have regarding taxes.Target Audience for Services (00:05:20)Moriarty identifies small business owners as the primary audience for his services.Bookkeeping Advice (00:06:53)Moriarty advises new business owners to prioritize bookkeeping to simplify tax filing.Challenges of Bookkeeping (00:07:58)Ryan Alford shares insights on the difficulties of maintaining proper bookkeeping.Importance of Bookkeeping (00:08:35)Moriarty stresses that proper bookkeeping is essential for tax compliance.Technological Advancements in Accounting (00:09:13)Moriarty discusses how technology has improved efficiency in accounting practices.Role of AI in Bookkeeping (00:10:57)Moriarty explains how AI assists in bookkeeping, reducing manual labor.Business Owner Involvement (00:12:17)Moriarty clarifies the level of involvement required from business owners in bookkeeping.Tax Preparation Process (00:13:15)Moriarty outlines the steps involved in preparing taxes for clients.Client Expectations from Tax Services (00:14:13)Discussion on what small business owners seek in tax services: speed and accuracy.Audit Concerns (00:15:00)Moriarty addresses client fears regarding audits and how his service can help.Audit Likelihood (00:16:06)Moriarty shares statistics on audit chances for small businesses.Importance of Accurate Record-Keeping (00:16:58)Moriarty emphasizes the need for accurate bookkeeping to support tax filings during audits.Ongoing Client Guidance (00:18:00)Moriarty explains the continuous support provided to clients to avoid audits.Understanding Audits (00:18:09)Discussion on desk audits, specific categories audited, and the importance of being prepared.Audit Support Services (00:19:06)Explanation of how Done For You Taxcom assists clients during audits and inquiries.Avoiding Full Audits (00:19:44)Insight on how to prevent full audits by maintaining organized records and avoiding red flags.Tax Tips for Small Businesses (00:20:04)Advice on practical tax management strategies for small business owners to stay organized.Home Office Deductions (00:20:36)Importance of having a home office and how to calculate deductions based on square footage.Vehicle Expense Deductions (00:21:22)Explanation of vehicle expense deductions, including mileage tracking versus actual expenses.Real Estate Investment Strategies (00:22:11)Tax strategies for high-income clients involving real estate and the benefits of accelerated depreciation.Misconceptions About Vehicle Deductions (00:25:22)Discussion on the pitfalls of writing off luxury vehicles and their depreciation.Debunking Tax Myths (00:26:39)Clarification on common tax myths surrounding vehicle deductions and financial planning.Maximizing Home Office Deductions (00:28:12)Encouragement to accurately calculate home office expenses and potential deductions for small businesses.Writing Off Business Meals (00:29:11)Guidance on writing off meals when there is a business purpose, even during personal dinners. If you enjoyed this episode and want to learn more, join Ryan's newsletter https://ryanalford.com/newsletter/ to get Ferrari level advice daily for FREE. Learn how to build a 7 figure business from your personal brand by signing up for a FREE introduction to personal branding https://ryanalford.com/personalbranding. Learn more by visiting our website at www.ryanisright.comSubscribe to our YouTube channel www.youtube.com/@RightAboutNowwithRyanAlford.

When you're managing your business and tracking your income, business expenses can be daunting. It's easy to look at everything you've earned, and think that it isn't enough when wanting to make a big investment. But, you don't want to avoid large investments. You always want to set your business up for success. Those investments help you tremendously in the long run. In today's episode, I walk you through my business procedure. We'll be discussing: What I look at monthly, and the expenses I have coming up so that I know I'll need to set aside so that my business can continue to thrive How to set up your bank account for your business so that you aren't at the mercy of your monthly expenses and aren't feeling like your business is working paycheck to paycheck Why it's important to me that you focus on your recurring monthly revenue If you want more guidance on business expenses and your monthly revenue, then head over to join my Mastermind. We are currently in the fast action enrollment period. You can apply HERE, and due to the fast action window can be eligible for a $5,000 discount. Want to be coached by Leah directly? Head to her waitlist to be the first to know when spots open up. And get the chance to win a FREE intensive with Leah!  Leahgervais.com/waitlist If you want more inside business secrets, then head over to my Seven-Figure Secrets Podcast! There, we discuss what goes on behind the scenes of running a seven figure business, and I give you the scoop on how to make it happen for you.    (Click HERE to tune in)

Happy 4th of July! In this episode we are digging the entrepreneurial spirit in America and the incentives for starting a business. We talk through how America's history of entrepreneurship and capitalism has driven innovation and economic growth. We highlight tax incentives for business owners, like deductions for office space and home office expenses, and the importance of a good accountant. Jon shares the Australian perspective, touching on the "tall poppy syndrome" and lack of government support. We emphasize how you can use proactive tax planning and ethical business practices to maximize growth and success. Links ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://dropshipbreakthru.com/call⁠⁠⁠⁠⁠⁠⁠⁠ - Ready to start your high ticket dropshipping journey with Ben and Jon's guidance and help? Jump on a free call with one of our team members today to learn what that looks like. https://dropshipbreakthru.com/go - Learn how high ticket dropshipping works and how you can get started in this free training. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://dropshipbreakthru.com/shopify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ - Get a $1 trial on Shopify and start having a play around. The best way to learn is by doing. Get familiar with the platform by being inside of it. Sponsors ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DropshipBreakthru.com/Clearsale⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  — Add this app to your business and never worry about fraud  chargebacks again. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DropshipBreakthru.com/Shopify⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ — The only Ecommerce platform we recommend. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DropshipBreakthru.com/Grasshopper⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ — Get an 800 number for your business from Grasshopper ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DropshipBreakthru.com/Rewind⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠— Automatically back up your Shopify store data ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DropshipBreakthru.com/PrimedMind⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ — Get coached by the #1 Mindset Coach in the world, Elliot Roe Timestamps America's Incentives for Entrepreneurship (00:00:00) Discussion on America's history of entrepreneurship, the celebration of the entrepreneurial spirit, and tax incentives for business owners. Australia's Attitude Towards Entrepreneurship (00:02:14) Comparison of the attitudes towards entrepreneurs in the US and Australia, including government support and public perception. Criticism of Wealth and Taxation (00:04:11) Debate on the criticism faced by entrepreneurs and wealthy individuals regarding taxes and societal attitudes. The Burden and Rewards of Entrepreneurship (00:09:15) Exploration of the risks, burdens, and rewards of entrepreneurship, including the concept of leverage and personal responsibility. Capitalism and Entrepreneurship (00:13:03) The role of entrepreneurs in shaping America's history, the impact of capitalism, and the incentives for entrepreneurs in the US. Tax Breaks and Business Expenses (00:15:39) Explanation of tax deductions and business expenses in the US, including home office deductions and incentives for business growth. Tax Planning and Benefits (00:16:32) Discussion on tax planning, expenses, and utilizing government incentives to benefit business owners. Utilizing Government Schemes (00:17:17) Exploring ways to use companies and trusts, applying for grants, and utilizing government schemes to benefit business. Maximizing Tax Benefits (00:18:26) Exploring various ways to offset income through legal means and the importance of finding a good accountant. Ethical Entrepreneurship (00:22:35) Encouragement to start a business ethically and serve the community, with a reminder of the potential for self-development through entrepreneurship.