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HBO and The Ringer's Bill Simmons hosts the most downloaded sports podcast of all time, with a rotating crew of celebrities, athletes, and media staples, as well as mainstays like Cousin Sal, Joe House, and a slew of other friends and family members who always happen to be suspiciously available.
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234 \\ Why 82% of Small Business Owners Are Overpaying Taxes (And How to Stop Being One of Them)
SMALL BUSINESS FINANCE– Business Tax, Financial Basics, Money Mindset, Tax Deductions
Manage episode 487770248 series 3399967
Content provided by Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert, Tiffany Phillips - CPA, Small Business Money Mentor, and Financial Expert. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert, Tiffany Phillips - CPA, Small Business Money Mentor, and Financial Expert or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.
Are you throwing away $30,000 in taxes every year? You might be if your business has the wrong structure! In this eye-opening episode, I reveal how I saved a client exactly that amount by switching them from an LLC to an S Corporation.
But wait - this strategy isn't right for everyone!
I'll break down:
- The big differences between LLCs and S Corps
- How each affects your tax bill
- When the S Corp starts saving you money (hint: it's around $60,000 in profit)
- What "reasonable salary" means and why the IRS cares
- The 5 questions to know if you should switch
Plus, I share real stories of business owners who saved thousands - and one who got caught by the IRS and paid dearly!
Don't miss this episode that could be the most profitable 30 minutes you spend all year. Your future self (and bank account) will thank you!
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> [email protected]
📲 Follow me on IG @ the.tiffany.p.cpa
246 episodes
