Podcasts about small business taxes

Independent MP Allegra Spender has joined the fight against the government rushing through changes to the Capital Gains Tax discount. See omnystudio.com/listener for privacy information.

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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

Send us Fan MailBusiness meal and entertainment tax rules have changed, and many small business owners still aren't sure what's deductible in 2025. Don't worry, our favorite Bookkeeping Mensch, Paul Rosenblum, is here to explain meals, sports tickets, country clubs, and how to handle reimbursable expenses the smart way in a new experimental episode. Be sure to let us know if you like this small bites of bookkeeping! Support the show

Send us Fan MailThat desk, laptop, or company vehicle might affect your taxes more than you think. Get clear on how these items should be handled in your bookkeeping.Many business owners buy equipment without knowing whether it should be depreciated over time, written off with Section 179, or treated as a smaller expense under de minimis rules. Those choices can impact taxes, bookkeeping accuracy, and how clearly you understand your business finances. In this episode, our favorite Bookkeeping Mensch, Paul Rosenblum, breaks down these three key concepts in plain English and explains why business owners should talk with their tax preparer now that things are a bit calmer post tax season. This episode could save you money and reduce confusion.Links: NOLO: IRS De Minimis Rule for Deducting Business Property: https://www.nolo.com/legal-encyclopedia/new-irs-de-minimis-rule-deducting-business-property.html#:~:text=BasicallyQuickbooks Small business tax deductions cheat sheet: chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://digitalasset.intuit.com/render/content/dam/intuit/sbseg/en_us/Blog/Downloadable-assset/Checklist/small-business-tax-deductions-checklist-us-en.pdfIndeed, What Is the Definition of De Minimis in Business? https://www.indeed.com/hire/c/info/de-minimisSupport the show

Tax season is here, and we're breaking down key strategies you need to know RIGHT NOW.In this episode of MX3 Podcast, we dive into:- The Augusta Rule and how it really works- Schedule C vs Schedule F explained in simple terms- The realities of farming, ranching, and government subsidies- Why self-employment taxes can catch people off guard- How to properly prepare before starting a businessIf you're earning income outside of a W-2 or thinking about starting a business, this episode could save you money and headaches.We believe in money, motivation, and taking action—and this episode is all about helping you level up your financial understanding.

Send us a text message! But please include your email or a way to get in touch with you. This feature is not two way! How about a candid and lighthearted vent about the hidden frustration bookkeepers face when small business owners don't communicate or engage with their bookkeeping, financial reports, and business finances? It's time for our favorite Bookkeeping Mensch, Paul Rosenblum, to share real situations, from miscategorized transactions to years of ignored reports, to show how poor communication leads to errors, delays, and disconnect between bookkeepers, accountants, and clients. He hopes that for you this can be a humorous reminder to stay involved, ask questions, and treat bookkeeping as an ongoing partnership that helps you make better financial decisions.Support the show

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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 1970: Ryan H Law shares practical, real-world advice to help small business owners take the stress out of tax season. With simple steps for organizing finances, choosing the right accounting tools, and understanding when and how to pay estimated taxes, this guide empowers entrepreneurs to manage their business taxes with confidence and clarity. Read along with the original article(s) here: https://ryanhlaw.com/small-business-taxes/ Quotes to ponder: "The key to doing your taxes is to KEEP GOOD RECORDS!" "If you don't make a profit at least 3 out of every 5 years the IRS will classify your business as a hobby." "A good tax professional is worth their fee." Episode references: IRS: What kind of records should I keep: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/What-kind-of-records-should-I-keep IRS: Self-Employed Individuals Tax Center: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center WAVE Accounting Software: https://www.waveapps.com/accounting/

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 1970: Ryan H Law shares practical, real-world advice to help small business owners take the stress out of tax season. With simple steps for organizing finances, choosing the right accounting tools, and understanding when and how to pay estimated taxes, this guide empowers entrepreneurs to manage their business taxes with confidence and clarity. Read along with the original article(s) here: https://ryanhlaw.com/small-business-taxes/ Quotes to ponder: "The key to doing your taxes is to KEEP GOOD RECORDS!" "If you don't make a profit at least 3 out of every 5 years the IRS will classify your business as a hobby." "A good tax professional is worth their fee." Episode references: IRS: What kind of records should I keep: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/What-kind-of-records-should-I-keep IRS: Self-Employed Individuals Tax Center: https://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center WAVE Accounting Software: https://www.waveapps.com/accounting/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Your Nebraska Update headlines for today, Feb. 5, include: two online sports gambling petitions remain uncertified after submission as state officials continue reviewing signatures and paperwork, Nebraska reports first pediatric flu death of season as cases rise again statewide, small business owners push back against proposal to expand sales taxes on services, Fremont police issue citations after student was injured during school demonstration, Nebraska Athletics plans to add more than 150 scholarships over next three years, international artists say rising visa costs and fears at U.S. entry points are keeping them out of Midwest.

Are you building a business but still feeling unsure about taxes and money moves? In this conversation, I sat down with Laura Zarrate, CPA, to break down what every small business owner needs to know. We talked about the truth behind LLCs, write-offs, and quarterly taxes—plus the mindset shift it takes to go from employee to entrepreneur. Laura also shared her powerful perspective on defining wealth beyond just money—because for many of us, it's about freedom, time, and familia.Chapters:00:00 – Meet Laura Zarrate, CPA: Latina Entrepreneur & Tax Expert06:25 – LLCs and Taxes: What Small Business Owners Need to Know11:52 – How Quarterly Taxes Work (and How to Stay Ready)16:17 – Small Business Write-Offs: What You Can (and Can't) Deduct22:47 – Shifting Your Sales Mindset: Charge Your Worth with Confidence26:09 – Redefining Wealth: Freedom, Family, and Time Over Money

Lance Graulich sits down with Sam Miles, CPA (Guardian CPAs) to break down the biggest tax mistakes first-time business owners make — and how to avoid them.If you're buying a franchise, running a small business, or thinking about switching from an LLC to an S-Corp, this conversation could save you thousands in taxes and keep you out of IRS trouble.

Ever wonder what the numbers really look like behind a pool service route? We pull back the curtain with a clear, practical breakdown of a 45-pool operation charging $185 per month, then map the journey from gross revenue to true take-home pay. You'll hear how recurring service, tight expense control, and smart tax choices can turn a four-day workweek into roughly $5,000 in monthly net income without 12-hour days or constant upsells.We start by setting a realistic model: no side repairs, just weekly service across a compact route. Then we stack the actual costs—chemicals, tools, office needs, licensing, insurance, the odd rental truck—and square off the big decision between the standard mileage deduction and actual vehicle expenses. From there, we explore entity choices (LLC, corporation, or sole proprietor), why audit risk differs, and how a trusted CPA can help you plan quarterly taxes, time purchases, and evaluate whether to put a spouse or first hire on payroll. Along the way, we talk clean books, mileage apps, home office rules, and the long-term benefits of reporting income for financing, Social Security, and eventual route valuation.The best part is scalability. Once your processes are dialed, adding accounts or a technician can grow revenue faster than your personal hours. Route density, predictable billing, and bulk purchasing create leverage that many service trades struggle to match. If you're weighing a jump into pool service or deciding how to price and structure what you already run, this breakdown gives you the numbers, the strategy, and the confidence to build a durable, profitable business.If this helped you see the business more clearly, follow the show, share it with a fellow pro, and leave a quick review—then tell us the one number you most want to improve next.Send us a textSupport the Pool Guy Podcast Show Sponsors! HASA https://bit.ly/HASAThe Bottom Feeder. Save $100 with Code: DVB100https://store.thebottomfeeder.com/Try Skimmer FREE for 30 days:https://getskimmer.com/poolguy Get UPA Liability Insurance $64 a month! https://forms.gle/F9YoTWNQ8WnvT4QBAPool Guy Coaching: https://bit.ly/40wFE6y

You want the truth about the One Big Beautiful Bill. Not headlines. Not wishful thinking. The real impact on your money and your business. That is what we cover today.Morgan Anderson joins me to break down what changes now, what phases in next, and where the media is getting it wrong. We hit the mess around “no tax on tips” and why it is not the free pass people think it is. We talk expiring credits, retroactive tweaks, and why Q4 tax planning beats “see you in March” every single time.If you own an S corp or LLC, pay attention. We talk practical realities for business owners, from what deductions still pass the laugh test to new wrinkles you have not heard about. We also dig into common mistakes with DIY tax software and why first-time accuracy is going to be shaky after a major code shift.We close with a September checklist you can run this week. W-2s, use the IRS withholding calculator. Business owners, sit down with your CPA or EA and your advisor. Adjust estimates. Map Roth conversions, HSAs, 529s, and risk management moves that help you get ahead of what is coming.Watch the full episode on YouTube: https://youtu.be/yp7ziDcCg0oAs always we ask you to comment, DM, whatever it takes to have a conversation to help you take the next step in your journey, reach out on any platform!Twitter, FaceBook, Instagram, Tiktok, LinkedinDISCLOSURE: Awards and rankings by third parties are not indicative of future performance or client investment success. Past performance does not guarantee future results. All investment strategies carry profit/loss potential and cannot eliminate investment risks. Information discussed may not reflect current positions/recommendations. While believed accurate, Black Mammoth does not guarantee information accuracy. This broadcast is not a solicitation for securities transactions or personalized investment advice. Tax/estate planning information is general - consult professionals for specific situations. Full disclosures at www.blackmammoth.com.

Starting a new business is exciting, but taxes can feel overwhelming. Don't let the IRS bullies take more of your money. In this video John goes over the taxes you need to know as a small business owner to keep your hard-earned cash where it belongs—in your pocket.And remember...the #IRSSUCKSJohn Briggs | Tax Geniusinfo@incitetax.comVisit our website @ Incite Tax Schedule A CallFollow us on…FacebookLinkedInInstagramYouTube

In this episode of The Visibility Impact Show, we dive into the world of money, taxes, and financial visibility with CPA and tax strategist Tiffany Phillips, CEO of Phillips Business Group. Tiffany shares the truth behind why most business owners are overpaying tens of thousands in taxes, and how to change that using smart, legal strategies. She breaks down what proactive tax planning actually looks like, the common mistakes entrepreneurs make, and why most CPAs are keeping you stuck.Tiffany also opens up about the mindset shifts required to take control of your finances, why visibility builds trust in the financial space, and how she used her podcast to grow her brand and impact. Whether you've been avoiding your numbers or want to optimize what you're already doing, this is a must-listen for women business owners who are ready to feel confident, empowered, and strategic with their money.Grab Tiffany's Book and connect with her:https://yourbiggestexpense.com/https://www.linkedin.com/in/tiffany-phillips-cpa-528587187/Drop us a message...Join this FREE Telegram space, Broadcast... https://thevisibleceo.com/broadcastBROADCAST is for the human-first leader who refuses to be muted by algorithms, AI, or outdated strategies. You've got something to say, and it's time to say it like you mean it. If you are ready for me to shift your thinking on how you can create a business WITHOUT living on your phone - this is the space to be! OMNI is my full visibility system built for CEOs who want to grow online without living on their phone. If you're ready to be truly seen, more strategic, and unmistakably in demand, head to check out OMNI at www.omniqueens.com Take the FREE Quiz to find out how visible you really are at www.thevisibleceo.com/quiz Review, share with a friend and tag me! IG: itscrissyconner FB: crissyconner LI: crissyconnerOMNI is my full visibility system built for CEOs who want to grow online without living on their phone. If you're ready to be truly seen, more strategic, and unmistakably in demand, head to check out OMNI at www.omniqueens.com Take the FREE Quiz to find out how visible you really are at www.thevisibleceo.com/quiz https://www.instagram.com/itscrissyconner/https://www.tiktok.com/@crissyconnerhttps://www.facebook.com/crissyconnerhttps://www.youtube.com/c/crissyconnerhttps://www.linkedin.com/in/crissyconner/

In this episode of The Visibility Impact Show, we dive into the world of money, taxes, and financial visibility with CPA and tax strategist Tiffany Phillips, CEO of Phillips Business Group. Tiffany shares the truth behind why most business owners are overpaying tens of thousands in taxes, and how to change that using smart, legal strategies. She breaks down what proactive tax planning actually looks like, the common mistakes entrepreneurs make, and why most CPAs are keeping you stuck.Tiffany also opens up about the mindset shifts required to take control of your finances, why visibility builds trust in the financial space, and how she used her podcast to grow her brand and impact. Whether you've been avoiding your numbers or want to optimize what you're already doing, this is a must-listen for women business owners who are ready to feel confident, empowered, and strategic with their money.Grab Tiffany's Book and connect with her:https://yourbiggestexpense.com/https://www.linkedin.com/in/tiffany-phillips-cpa-528587187/Drop us a message...Join this FREE Telegram space, Broadcast... https://thevisibleceo.com/broadcastBROADCAST is for the human-first leader who refuses to be muted by algorithms, AI, or outdated strategies. You've got something to say, and it's time to say it like you mean it. If you are ready for me to shift your thinking on how you can create a business WITHOUT living on your phone - this is the space to be! OMNI is my full visibility system built for CEOs who want to grow online without living on their phone. If you're ready to be truly seen, more strategic, and unmistakably in demand, head to check out OMNI at www.omniqueens.com Take the FREE Quiz to find out how visible you really are at www.thevisibleceo.com/quiz Review, share with a friend and tag me! IG: itscrissyconner FB: crissyconner LI: crissyconnerOMNI is my full visibility system built for CEOs who want to grow online without living on their phone. If you're ready to be truly seen, more strategic, and unmistakably in demand, head to check out OMNI at www.omniqueens.com Take the FREE Quiz to find out how visible you really are at www.thevisibleceo.com/quiz https://www.instagram.com/itscrissyconner/https://www.tiktok.com/@crissyconnerhttps://www.facebook.com/crissyconnerhttps://www.youtube.com/c/crissyconnerhttps://www.linkedin.com/in/crissyconner/

Confused about how the 2025 Tax Bill impacts your business? This episode of THRIVE dives headfirst into real questions from real business owners, breaking down what you need to know about this headline-making legislation. Gene is joined by tax expert Barbara Weltman, founder of Big Ideas for Small Business and author of J.K. Lasser's Small Business Taxes. Together, they tackle the most pressing topics raised during their recent webinar. From changes in bonus depreciation to navigating family leave credits, education assistance plans, and state and local tax (SALT) deductions, Gene and Barbara make the complex simple with advice you can use right away. And don't worry — you won't need an accounting degree to follow along. Tune in now and take the stress out of all these changes. Watch the 2025 Tax Bill webinar, download an FAQ resource, AND enter a contest to win a copy of Barbara's book, J.K. Lasser's Small Business Taxes, here: https://go.paychex.com/taxbill Have a question for upcoming episodes or a topic you want covered? Let us know: https://payx.me/thrivetopics Topics include: 00:00 – Episode preview and welcome 02:22 – Overview of the 2025 Tax Bill webinar 03:01 – Advanced manufacturing investment credit 04:26 – Bonus depreciation 07:25 – No taxes on tips and overtime 10:51 – State and local tax (SALT) Changes 14:47 – Employee education benefits 18:22 – Family leave credit 21:54 – S corporation provisions 23:34 – Changes in meal deductions 25:39 – Wrap up and thank you DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.

Ready to stop scrambling come tax time and start planning like the business leader you are? Well, it starts with your mid-year financial game plan. In this episode, Danielle Hayden, CEO and founder of Kickstart Accounting, Inc., walks you through the steps you need to take to get your books in shape, plan for tax season (without stress), and build a business that's profitable and sustainable for the long haul. Let's make tax season feel like just another Tuesday. Key Takeaways:  Know the Kind of Business You're Building: Are you running a tax deduction-focused business or building long-term sustainability? Defining this upfront will shape your entire financial strategy and mindset. Bookkeeping Is the Foundation of Everything: You can't make smart tax or financial decisions without accurate, up-to-date books. Get caught up and stay caught up. Collect W-9s and Log Expenses Now, Not Later: Save yourself a year-end headache by organizing contractor paperwork and tracking home office, mileage, and reimbursable expenses today. Review Your Entity Type and Compensation: Are you set up as the right business entity? S-Corps, in particular, need to pay close attention to reasonable compensation and accountable plans. Don't Skip Estimated Tax Payments: Avoid penalties and cash flow surprises by paying what you owe and saving for taxes proactively—your future self will thank you. ⭐ Business Hack: Schedule a full “CEO Day” to knock all this off your plate! Topics Discussed: (00:31 – 01:15) Why Mid-Year Is the Best Time for Financial Planning (01:16 – 04:53) Choosing the Kind of Business You Want to Run (04:59 – 06:54) Bookkeeping Updates: What to Check and Why It Matters (06:55 – 11:15) Must-Do Mid-Year Admin: W-9s, Home Expenses, Mileage Tracking (11:24 – 16:00) Reviewing Entity Type, Reasonable Compensation, and Estimated Taxes   Resources: Free Downloadable Template | Home Office Log & Accountable Plan Episode Referenced | Entrepreneurs: Should You Go S-Corp? Pros & Cons + Expert Insight – Ep 115   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  

Ready to stop scrambling come tax time and start planning like the business leader you are? Well, it starts with your mid-year financial game plan. In this episode, Danielle Hayden, CEO and founder of Kickstart Accounting, Inc., walks you through the steps you need to take to get your books in shape, plan for tax season (without stress), and build a business that's profitable and sustainable for the long haul. Let's make tax season feel like just another Tuesday. Key Takeaways:  Know the Kind of Business You're Building: Are you running a tax deduction-focused business or building long-term sustainability? Defining this upfront will shape your entire financial strategy and mindset. Bookkeeping Is the Foundation of Everything: You can't make smart tax or financial decisions without accurate, up-to-date books. Get caught up and stay caught up. Collect W-9s and Log Expenses Now, Not Later: Save yourself a year-end headache by organizing contractor paperwork and tracking home office, mileage, and reimbursable expenses today. Review Your Entity Type and Compensation: Are you set up as the right business entity? S-Corps, in particular, need to pay close attention to reasonable compensation and accountable plans. Don't Skip Estimated Tax Payments: Avoid penalties and cash flow surprises by paying what you owe and saving for taxes proactively—your future self will thank you. ⭐ Business Hack: Schedule a full “CEO Day” to knock all this off your plate! Topics Discussed: (00:31 – 01:15) Why Mid-Year Is the Best Time for Financial Planning (01:16 – 04:53) Choosing the Kind of Business You Want to Run (04:59 – 06:54) Bookkeeping Updates: What to Check and Why It Matters (06:55 – 11:15) Must-Do Mid-Year Admin: W-9s, Home Expenses, Mileage Tracking (11:24 – 16:00) Reviewing Entity Type, Reasonable Compensation, and Estimated Taxes   Resources: Free Downloadable Template | Home Office Log & Accountable Plan Episode Referenced | Entrepreneurs: Should You Go S-Corp? Pros & Cons + Expert Insight – Ep 115   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  

In this episode, Dr. Preston Cherry explains how to take advantage of the new rules that could save you 20% on qualified income every year and unlock up to $10 million in tax-free gains when you sell or exit your business. From avoiding costly timing mistakes to structuring smart early, Dr. Cherry breaks down what it really means to build a tax-smart runway.Takeaways:• 20% income deduction• $10M+ capital gains = 0% tax• QBI = annual savings• QSBS = tax-free exit• Timing = everything00:00 Intro01:00 Tax Strategies Simplified04:51 Optimizing QBI and QSBS Strategies06:23 Empower Your Growth JourneyGet The Wealth Word — our free weekly newsletter on wealth and well-being: https://wealth.concurrentfp.com/thewealthwordExplore award-winning wealth advisory services: https://www.concurrentfp.com/Read Wealth In The Key of Life by Dr. Preston Cherry: https://drprestoncherry.com/book/Disclosure: Educational content only. Not financial advice. https://www.concurrentfp.com/disclosures/

In this first episode of a two-part series, tax incentives expert Gian Pazzia provides a high-level overview of key tax-saving strategies for business owners and real estate investors. Gian breaks down major trends like cost segregation and energy tax credits, revealing how these tools can accelerate deductions, reduce taxable income, and unlock significant savings.  This episode sets the stage for Part 2, which will dive deeper into practical implementation with another special guest. Key Takeaways: Cost Segregation Studies: How breaking down your building's components can accelerate depreciation and increase first-year deductions by up to 25%, delivering major cash flow benefits for real estate investors. Real Estate Professional Status & Short-Term Rentals: Insights on how meeting specific IRS criteria or leveraging short-term rental classifications can unlock the ability to offset passive losses against active income. Stacking Incentives: Exploring how commercial real estate investors can combine accelerated depreciation with energy tax credits (like 179D and 45L) to maximize tax benefits. Stay tuned for Part 2, where we'll go beyond the overview and dig into the detailed tactics and implementation steps for these tax-saving strategies. Resources:  For 10% off your residential Cost Segregation study (under $1.2M) : www.costsegregation.com/BREAKAWAY2025 Connect with Gian Pazzia: Website: www.kbkg.com/residential-costsegregator   Linkedin: www.linkedin.com/in/costsegregationservices/

Small business taxes don't have to be stressful! In this episode, Gusto's Shelly Abril and Holland King share expert insights on small business taxes. From payroll compliance to tax credits that could save you thousands, they break down what business owners need to know to stay prepared year-round and avoid costly mistakes. Tune in for actionable tips to make tax season easier and set your business up for success! Gusto Gusto's hourly paycheck calculator -- Helps business owners determine withholdings and calculate take-home pay for hourly employees. Gusto's Partner Directory -- Helps business owners find experienced accountants and bookkeepers who can help make their lives easier, based on keywords around their industry, preferred type of software, and location. You can also search based on the primary services you need (e.g. auditing, bookkeeping, financial planning, tax preparation, etc.)   Theme Music by Ali Schwartz and Meserole Sound

Happy Tax Season! We’re celebrating Season 3 of Grown-Up Stuff by filling you in on how to file your taxes. Hosts Lea Palmieri and Matt Stillo speak with Rus Garofalo of Brass Taxes about how you can save time, money, and your sanity as you tackle your taxes this year. From basic tax terms to loopholes and laws, Rus explains it all to have you feeling confident about your cash this year. For more information, visit BrassTaxes.com.See omnystudio.com/listener for privacy information.

Few things are as nerve-wracking as receiving an IRS audit notice—but how do audits really work, and what can you do to protect yourself? In this episode of Absolute Trust Talk, Kirsten Howe sits down with Anthony Kim, a former IRS Chief Counsel Attorney with 26+ years of experience, to reveal the truth behind IRS audits. Tony, who has litigated complex tax cases for the U.S. Treasury Department and represented Fortune 500 companies and high-net-worth individuals at Ernst & Young, shares insider knowledge on what triggers audits, the IRS selection process, and how to avoid common red flags. You'll learn why IRS audits are rarer than you think, the top mistakes taxpayers make, and why choosing the right representative—CPA or tax attorney?—could make or break your case. Plus, Tony drops a little-known IRS tip that could save you from missed notices and financial headaches. Don't leave your financial future to chance! Listen now to get expert advice on navigating an IRS audit with confidence.   Time-stamped Show Notes: 0:00 Introduction 0:57 Meet Anthony Kim: Former IRS Chief Counsel Attorney & tax expert 3:42 What triggers an IRS audit? Common red flags explained. 6:28 Whistleblower reports and third-party mismatches—how they lead to audits 7:46 The truth about audit risk: How rare are they, really? 8:43 Step one: How the IRS contacts you—don't fall for scams! 10:00 The one IRS form every taxpayer should file after moving 11:00 The biggest mistake taxpayers make—what NOT to say in an audit 15:32 The worst-case audit scenarios and how to avoid them 16:49 Why even a low-risk audit could turn into a criminal case 17:24 Who should represent you in an audit? CPA vs. tax attorney debate 21:38 What happens at the end of an audit—how decisions are made 22:47 How to challenge an IRS audit decision and file a protest letter

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This week, Gene Marks tries to sort through some confusion. First, he talks about Kamala Harriss's proposal to 10X a small business tax deduction, which sounds great except that it's not really going to help small businesses. And then he addresses the comments of a Houston CPA who asserts that small businesses have the best tax deal in America. Gene sees it a little differently.

On this episode of Living the Dream with Curveball, we tackle the often daunting world of tax debt with the expertise of author and tax debt specialist, Morgan Q. Anderson. With 25 years of experience negotiating with the IRS and handling tax debt cases across all 50 states, Morgan shares invaluable insights and practical tips for anyone facing tax troubles. From personal to business tax debt, Morgan breaks down the complexities of tax laws and offers solutions to help you regain control. Tune in for a conversation that promises to shed light on a topic that affects us all, and discover why there's always a solution to your tax debt problems.www.goldenliontaxsolutions.com

For small business owners, it's important to celebrate every success, but it's also important to remember that behind every accomplishment there are plenty of hardships, missteps, and valuable lessons. Going into business for yourself is not easy and often comes with economic ups and downs and hard-to-decipher tax codes - among many other challenges. That's why persevering and learning how to adapt and overcome any problems that arise is so important for every entrepreneur. On this episode, Austin and Jannese talk about the hurdles they faced and unexpected problems that arose in the initial phases of launching their businesses. Entrepreneur Taylor Randal of Softpaw Vintage details her journey of starting a business and sticking through the challenges to find success, even when an unexpected tax bill threatened to derail her entire enterprise.  Learn more about how QuickBooks can help you grow your business: QuickBooks.com QuickBooks for Solopreneurs For a recap from this week's episode visit: Episode 5 Recap with Taylor Randal of Softpaw Vintage Or learn more about this topic at this resource: 7 Cash flow problems & solutions for small businesses See omnystudio.com/listener for privacy information.

For small business owners, it's important to celebrate every success, but it's also important to remember that behind every accomplishment there are plenty of hardships, missteps, and valuable lessons. Going into business for yourself is not easy and often comes with economic ups and downs and hard-to-decipher tax codes - among many other challenges. That's why persevering and learning how to adapt and overcome any problems that arise is so important for every entrepreneur. On this episode, Austin and Jannese talk about the hurdles they faced and unexpected problems that arose in the initial phases of launching their businesses. Entrepreneur Taylor Randal of Softpaw Vintage details her journey of starting a business and sticking through the challenges to find success, even when an unexpected tax bill threatened to derail her entire enterprise.  Learn more about how QuickBooks can help you grow your business: QuickBooks.com QuickBooks for Solopreneurs For a recap from this week's episode visit: Episode 5 Recap with Taylor Randal of Softpaw Vintage Or learn more about this topic at this resource: 7 Cash flow problems & solutions for small businesses See omnystudio.com/listener for privacy information.

For small business owners, it's important to celebrate every success, but it's also important to remember that behind every accomplishment there are plenty of hardships, missteps, and valuable lessons. Going into business for yourself is not easy and often comes with economic ups and downs and hard-to-decipher tax codes - among many other challenges. That's why persevering and learning how to adapt and overcome any problems that arise is so important for every entrepreneur. On this episode, Austin and Jannese talk about the hurdles they faced and unexpected problems that arose in the initial phases of launching their businesses. Entrepreneur Taylor Randal of Softpaw Vintage details her journey of starting a business and sticking through the challenges to find success, even when an unexpected tax bill threatened to derail her entire enterprise.  Learn more about how QuickBooks can help you grow your business: QuickBooks.com QuickBooks for Solopreneurs For a recap from this week's episode visit: Episode 5 Recap with Taylor Randal of Softpaw Vintage Or learn more about this topic at this resource: 7 Cash flow problems & solutions for small businesses See omnystudio.com/listener for privacy information.

In this episode, I give you 7 ways to pay less taxes. And no, they don't involve anything like sketchy offshore bank accounts. I cover: Tracking your expenses and write-offs, reinvesting in your business, the difference between contractor and employee taxes, the difference between an LLC and an S Corp, investing in your retirement, using the qualified business income deduction, and working with a CPA.If you're filing small business taxes for the first time as a beginner, or even if you're a seasoned pro, you'll find helpful tax nuggets in this episode.In this episode, you'll hear…How to use company 401(k) matching to save for your retirement and pay lower taxesDifferent business expense write-offs that you might not know existedWhy filing as an S Corp might be the right choice for your businessClick here to find the full show notes and transcript for this episode.RESOURCES:Stay organized with QuickBooksBecome a better investor with BettermentRead my blog post about the 5 qualities your accountant must haveListen to Episode 77: Small Business Taxes 101 (Guest Interview with Little Fish Accounting)Listen to Episode 91: Business Expenses 101CONNECT:Sam on InstagramSam on FacebookOn Your Terms on InstagramDISCLAIMERProduced by NOVA Media

Ever worried about staying compliant with the IRS? New business owners often face confusion around tax regulations. This week on the Play Big Faster Podcast, host Scherrlie L. Prince chats with CPA and entrepreneur Charles J. Read, founder of GetPayroll. They delve into the world of tax compliance for small businesses. Learn the 7 essential steps to fight an IRS penalty and what to do if you receive a scary notice in the mail. Discover 5 key strategies to avoid employment tax pitfalls and gain peace of mind knowing your business is on the right track. This episode is a must-listen for new entrepreneurs, solopreneurs, and small business owners looking to navigate the often-complex world of taxes. If you're loving The Play Big Faster Podcast, here's how you can show some love back. Drop a rating and review on Apple Podcasts. Your feedback fuels this podcast's mission to empower more entrepreneurs like you to build the business they've always dreamed of. Simply click the episode link, scroll down, and hit those five stars. Don't forget to share what resonated with you the most about this episode! And, if you haven't already, hit that 'Follow' button. I've got a treasure trove of bonus content lined up, and you won't want to miss out. Your follow ensures you're in the loop for all the insider insights and entrepreneurial wisdom coming your way. Hit that 'Follow' button now! Thanks for being part of this incredible journey. Together, we're redefining what's possible in the world of entrepreneurship!  

It's tax season and for small business owners, this time of year can feel a bit stressful. Whether it's your first year in business or you've been at this for a while, the thought of sorting through all your finances can seem overwhelming. But here's some good news: it doesn't have to be as hard as it looks.Coming from someone who's both a licensed CPA and a small business owner, I get it! And having been on both sides, I've learned a few things about keeping things smooth and stress-free during tax time. So in this episode, I'm excited to share some of those insights and strategies with you that can help keep your finances in tiptop shape.If you're ready to tackle tax season head-on and find ways to make it easier, you're in the right place!Disclaimer: This information is for general informational purposes only and is not intended to be a substitute for professional financial, accounting, or legal advice. Please always seek the guidance of a qualified professional with any questions you may have regarding your specific situation!Key takeaways:The importance of keeping your finances in order all yearChoosing the best way to keep track of your moneyThe basics: what you need to keep an eye on with your money coming in & going outEasy tips to cut down on the stress of tax seasonWhen it's time to call in a pro like a CPA, to help with your business taxesClearing up confusion about tax write-offs and what they really mean for your businessHow planning ahead can help save you from surprises at tax timeSimple advice to help you feel more confident about handling your small biz financesMy Bookkeeping Basics CourseThis simple and easy to follow course is designed specifically for small business owners like you. It provides all the foundational tools you need to get your bookkeeping in perfect shape for tax time, focusing on organization over complex accounting and tax rules. Click here for more info and get started!ResourcesDETAILED DIARY SHOW NOTESPatreon: Access exclusive content, start or supercharge your biz growth, and be part of an inspiring community of supportive entrepreneurs by becoming a Patreon member! Check out more details here. Follow @detaileddiarypodcast to stay up-to-date about everything related to the podcast!

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As entrepreneurs, understanding what counts as a business expense is crucial for our financial health and legal compliance. I'm here to clear up some common misconceptions and offer practical advice on how to navigate these often-confusing waters. Whether you're just starting out or you've been running your business for a while, this discussion is going to shed light on managing your business's finances effectively.In this episode, you'll hear…Insights into what qualifies as a business expense and debunking common mythsStrategies for effectively documenting and tracking business expensesUnderstanding the IRS criteria for deductible expensesHow to differentiate between deductible and non-deductible expensesGuidance on legal and tax compliance for entrepreneursClick here to find the full show notes and transcript for this episode.RESOURCES:The Ultimate Bundle™Business Expenses | Internal Revenue ServiceGet QuickBooksBlog Post: Can I Charge Business Expenses to My Personal Card?Episode 77. Small Business Taxes 101 [Guest Interview with Little Fish Accounting]Learn more about Little Fish AccountingCheck out Megan Naasz, CPAEpisode 17. 6 Legal Must Haves for Online BusinessesCONNECT:Sam on InstagramSam on FacebookOn Your Terms on InstagramDISCLAIMERProduced by NOVA Media

Are you an entrepreneur trying to navigate the financial maze of your online business? You're not alone. Many of us jump into the entrepreneurial world, passionate about our products and services, but often find ourselves lost when it comes to understanding the financial aspects. Today, I'm diving deep into the world of business finance, shedding light on areas where many entrepreneurs, even the seasoned ones, often falter.In this episode, you'll hear…The significance of financial literacy for entrepreneurs and how it can influence business decisionsStrategies for understanding and optimizing business finances, ensuring you're not just running a business, but a profitable oneThe art of being resourceful: how to make the most of available resources and investments to grow your online businessThe shift in online marketing strategies: the declining efficacy of Facebook ads and the resurgence of traditional organic growth methodsInsights from Evolved Finance's journey: the importance of perfecting a core offering before branching out and the value of patience in business growthIf you'd like a shoutout (and a chance to win a $20 gift card), just leave a review on Apple Podcasts and send a screenshot of it to me on Instagram via DMs!Click here to find the full show notes and transcript for this episode.RESOURCES:Learn more at EvolvedFinance.comTake the FREE Evolved Finance Audio CourseListen to the Evolved Finance PodcastFollow Parker on Instagram: @evolvedfinanceEpisode 77. Small Business Taxes 101 [Guest Interview with Little Fish Accounting]CONNECT:Sam on InstagramSam on FacebookOn Your Terms on InstagramDISCLAIMERProduced by NOVA Media

PODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter!   You started a business, not a hobby, so you know how important it is to pay yourself consistently. In this episode of the Business Money 201 series discover business planning strategies that will help you do just that. This series builds on information that was presented in the Business Money 101 series. If you haven't listened to those 5 episodes yet, they start here: 3 - Financial Foundations Other recommended episodes: 22 - Cash flow Forecasting and Business Planning  25 - How to Pay Yourself From Your Business   Connect with Erica: Instagram  LinkedIn Email List  

Did you know there's a difference between work-from-home and remote work? While many use the terms interchangeably, there are important differences between the two when it comes to where your employees can work. Today's guest is ready to help you understand these distinctions and navigate the complex tax implications of hiring remote and work-from-home employees. Deanna Baumgardner, owner of Employers Advantage, provides insight into how to handle compliance with tax laws for employers that hire off-site workers. Do you follow tax laws of your location or where the employee is located? What if they take their computer with them on a trip to Europe? What laws are you bound to then? Join us in this compelling conversation that will help keep your business out of hot water.  

Ryan & Becca are joined today by Jamie Boyack, a Chartered Professional Accountant (CPA) from Aloha Friday CPA. She answers so many of our tax questions ranging from the differences between sole proprietor/single person LLC/S corp,  how to effectively keep track of expenses/income, collecting & remitting sales taxes, how to handle cash, common reasons small businesses struggle, what are costs of goods sold, & many more to list. Ryan & Becca learned quite a few things from this chat and we know you will as well. Please use our discussion as a start point for learning and ask your own accountant questions to ensure you're doing what is correct for your own business. Reach out to Jamie with any accounting services you may need help with and let her know your biggest takeaway from our discussion today. ResourcesTaxJar - What creates sales tax nexus in every stateSBA - State tax department resourcesAloha Friday CPA - Entrepreneur Virtual Experience (coming soon)Where you can find us for NCECA 2023-----Find more about Jamie's business below-----Website - https://www.alohafridaycpa.com/Instagram - @jamie_boyackFacebook - https://www.facebook.com/alohafridaycpa/Listener QuestionsSend us questions so we can answer anything you've been thinking about on a future episode. Send those through Instagram @wheeltalkpodcast or email us at wheeltalkpodcast@gmail.com.Sponsors - L&L KilnsThe durable kiln that potters trust to fire evenly & consistently. Find your L&L kiln at hotkilns.comSupport the show on Patreon for as little as $3 per month: https://patreon.com/WheeltalkpodcastBecca's Patreon: https://patreon.com/superpotladyFollow us on Instagram:@wheeltalkpodcast@rdceramics@5linespotteryVisit our website:www.wheeltalkpotcast.comWheel Talk YouTube ChannelSupport the show

A podcast for entrepreneurs who started working for themselves to build companies that grow into thriving businesses, The Fish Food Podcast is here to provide bite-sized accounting and entrepreneurship advice in 20 minutes or less. With host and CPA Keila Hill-Trawick, tune in as each episode presents easily digestible tips and tricks for small business owners, from start-ups to established companies. So whether you're acting as your own accountant or looking for a new one, the Fish Food Podcast is for you!  RESOURCES:Like what you're hearing? Check out Little Fish Accounting at: www.littlefishaccounting.comFollow Little Fish Accounting on social media!IG | instagram.com/littlefishaccounting    The Fish Food Podcast is edited by Instapodcasts (visit at instapodcasts.com)

Welcome to the new version of the Fish Food Podcast, now on audio and video, making it even easier for you to get the accounting and tax advice you need!While we are here to talk making money, keeping as much of it as you possibly can, and tracking it appropriately for taxes, in this episode, host Keila Hill-Trawick answers some common questions about herself and Little Fish Accounting.From why Keila decided to leave corporate to who can benefit from her services, lean in and learn why Little Fish Accounting and the Fish Food Podcast are your new true partners in finance. KEY POINTS:- The inspiration behind Little Fish Accounting- What makes Little Fish Accounting stand out?- How does Little Fish Accounting help entrepreneurs?- Why is Keila Hill-Trawick so passionate about her work?- The biggest myths about financial experts QUOTABLES:“One of the reasons that I knew I could be good at it is because I care. And I know that kind of sounds cliche, but I realized that a lot of people that were in what are essentially ‘done for you' service industries are so focused on the task that they're not thinking about the experience.” RESOURCES:Like what you're hearing? Check out Little Fish Accounting at: www.littlefishaccounting.comFollow Little Fish Accounting on social media!IG | instagram.com/littlefishaccounting   The Fish Food Podcast is edited by Instapodcasts (visit at instapodcasts.com)

Are you unsure about what qualifies as a business expense? Confused about when you can start counting them or what happens to expenses incurred before registering your business? In this episode, we'll be diving into all of that and more. Learn about what business expenses you may be missing out on — and what things you may think are an expense but actually aren't. Let's make sure you're not missing out on any deductions for your business.In this episode, you'll hear…What business expenses are and why they are so misunderstoodWhether or not you can deduct expenses incurred before you register your business and which ones countCommon write-offs many online business owners miss (and things you think you can write off but actually can't)Click here to find the full show notes and transcript for this episode.RESOURCES:The Ultimate Bundle™Business Expenses | Internal Revenue ServiceQuickbooks // bookkeeping software. Organize and track your business expenses and income with this easy-to-use tool. Get 50% off with my link.Blog Post: Can I Charge Business Expenses to My Personal Card?Episode 77. Small Business Taxes 101 [Guest Interview with Little Fish Accounting]Episode 17. 6 Legal Must Haves for Online BusinessesResources & Links:If you'd like a shoutout (and a chance to win a $20 gift card), just leave a review on Apple Podcasts and send a screenshot of it to me on Instagram via DMs!Read Sam's Blog for the latest legal tips, podcast episodes & behind the scenes of building her seven-figure business.Listen to our customer stories to see how getting legally legit has helped 1,000s of entrepreneurs grow their own businesses.Follow us on social media: Sam on Instagram, Facebook, On Your Terms on Instagram Subscribe and follow on all podcast platforms and activate notifications for new episodesKajabi // use Kajabi to sell your course, program, or even build your entire website. Get a 30-day free trial with my link.SamCart // what I use for my checkout pages and payment processing and LOVE. And no, not because it's my name.ConvertKit // what I use to build my email list, send emails to my list, and create opt-in forms &...

Wondering what it's like to work with a tax professional? In this episode, I continue last week's conversation about how to prepare for a stress-free tax season and invite Kenya Todd, our account manager, to lay out what it's like to work with Little Fish. Not only do we lay out what our year-round service, Tax Prep Suite, entails, but we also interview one of our clients, Nix Avant-Brown, about her experience with this service. In the interview, Nix tells us how using Tax Prep Suite helped her go from feeling beat down and completely financially disorganized to being motivated about taking control of her business finances by asking for help. Before wrapping up the episode with details on how you can sign up for Tax Prep Suite, I also answer a couple more specific tax questions.If you haven't already, check out part one of this conversation for everything you need to prepare for end-of-the-year taxes.Looking for tips, insights, and support with all your accounting needs? Then head over to  Fish Food Resource Hub! If you're ready to outsource your Accounting and/or Tax prep needs, then contact us at podcasts@littlefishaccounting.comFind us online:Website: www.littlefishaccounting.comInstagram:www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg 

Let's talk small business taxes. It's a confusing, occasionally frightening, topic for many business owners — and rightly so! I have Keila of Little Fish Accounting here to break down all the basics: Why taxes are so confusingHow you can track your expensesWhen to hire a bookkeeperHow to pay yourself from your businessBy the end of this conversation, you'll have a better grasp of what you need to know, and what you can leave to the experts.Click here to find the full show notes and transcript for this episode.RESOURCES:Learn more at littlefishaccounting.comOutsource Guide from KeilaHow to Find an Accountant for Your Online Business: My Top 5 Qualities to Look ForEpisode 58. Paying Yourself 101 [Everything Business Owners Need to Know]Follow Little Fish Accounting on Instagram: @littlefishaccountingTax Prep Suite from Little Fish: littlefishaccounting.com/tax-prep-suite Free Resource: Yearly Planning & Reflections Guide Resources & Links:If you'd like a shoutout (and a chance to win a $20 gift card), just leave a review on Apple Podcasts and send a screenshot of it to me on Instagram via DMs!Read Sam's Blog for the latest legal tips, podcast episodes & behind the scenes of building her seven-figure business.Listen to our customer stories to see how getting legally legit has helped 1,000s of entrepreneurs grow their own businesses.Follow us on social media: Sam on Instagram, Facebook, On Your Terms on Instagram Subscribe and follow on all podcast platforms and activate notifications for new episodesKajabi // use Kajabi to sell your course, program, or even build your entire website. Get a 30-day free trial with my link.SamCart // what I use for my checkout pages and payment processing and LOVE. And no, not because it's my name.ConvertKit // what I use to build my email list, send emails to my list, and create opt-in forms & pages.DISCLAIMER: Although Sam is an attorney she...

Merry-almost taxes! This week I have a special episode where I'm sharing actionable steps to help you prepare for a stress-free tax season. I'm answering frequently asked questions about quarterly estimates, best practices when working with a tax professional, and what expenses you should deduct annually.In this episode, I'm sharing an overview of how taxes work and why the IRS prefers that you make an educated guess and 'pay on the go.' I'm also breaking down the different types of taxes that you need to be aware of, why staying on top of your bookkeeping will help avoid financial surprises at the end of the year, and what happens if you don't pay your quarterly taxes.Do you know the first two rules of deductible expenses? Worry not; I'm sharing what the IRS expects and why we should all be thoughtful of year-end spending versus deducting expenses just for the sake of it. Finally, I share a crucial tip for staying organized (hint: it's bookkeeping) and why honesty and transparency is vital when working with your tax preparer, especially if you want to minimize the amount of taxes you need to pay at the end of the year.Are you interested in working with Little Fish? Curious about our year-round service, the tax-prep suite? You'll want to tune in next week for part two of this conversation, where we chat with our account manager and spotlight a client success story.Looking for tips, insights, and support with all your accounting needs? Then head over to Fish Food Resource Hub! If you're ready to outsource your Accounting and/or Tax prep needs then contact us at podcasts@littlefishaccounting.comFind us online:Website: www.littlefishaccounting.comInstagram:www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg 

It seems like everyone in the business and entrepreneurship world is always moving on to new goals, and aiming for new heights.  However, I've always known that there was going to be a cap to Little Fish's growth because there are sacrifices I'm not willing to make for the sake of my team and the lives that I want us to be able to lead. And that's okay.In today's episode, I'm talking about what it means to intentionally reject never-ending growth and how you can do so with care and intention. I talk about optimizing the way we, as a team work, in order to meet our revenue expectations without burning out and how you can too.Then, I talk about the important role numbers play in determining your team size and how much effort you'll be putting into reaching your goals. Finally, I talk about getting honest with yourself about your goals and the life you want to live, and how change is always in the air if you want it.  This is an important conversation that isn't discussed much in the entrepreneurial space, so tune in and join us for this discussion.Looking for tips, insights, and support with all your accounting needs? Then head over to Fish Food Resource Hub! If you're ready to outsource your Accounting and/or Tax prep needs then contact us at podcasts@littlefishaccounting.comFind us online:Website: www.littlefishaccounting.comInstagram: www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg

Rushion McDonald talks to Laura Foos, Owner, of Foos Financial Services. Foos Financial Services provides Tax Preparation Services to individuals and specializes in Small Business Taxes.Rushion McDonald talks to Alisa Bowens-Mercado, Owner & Brewmaster of Rhythm Brewing Co. Affectionately known as "Lady Lager", she made history by becoming the first African-American, woman-owned beer brand in the state of Connecticut (4th in the Country).https://www.moneymakingconversations.comhttps://www.youtube.com/MoneyMakingConversationshttps://www.facebook.com/MoneyMakingConversations/https://twitter.com/moneymakingconvhttps://www.instagram.com/moneymakingconversations/Learn more about your ad-choices at https://www.iheartpodcastnetwork.comSupport the show: https://www.steveharveyfm.com/See omnystudio.com/listener for privacy information.