Savvy or Surrender - Your Guide to Profit, Cash Flow, and Tax Savings

Steven Young
  • 5.0 (2)
  • ENTREPRENEURSHIP

Running a business shouldn’t feel like a never-ending fight for cash. On Savvy or Surrender, host Steven Young cuts through the noise and shows real business owners how to take control of their numbers, keep more of their hard-earned money, and build a business that actually pays them back. Each episode gives you practical strategies you can use right away — from fixing cash flow bottlenecks, to implementing Profit First, to unlocking tax savings most owners never hear about. No jargon. No fluff. Just clear guidance, real-talk coaching, and a little humor to keep things human. Whether you’re a contractor, service pro, or business owner who’s tired of working hard with nothing to show for it, this is your go-to show for leveling up your money decisions and building a business that supports your life… not the other way around. Choose to be Savvy — or surrender your profit. The choice is yours.

  1. JAN 14

    Starting a Business-Tax Deductions, Startup Costs, and what you can (and can't) write off: Episode 19

    Summary: Thinking about starting a business in 2026? Before you dive in, you need to understand the tax implications and financial realities of entrepreneurship. In this episode, Steven Young from Savvy Tax Strategies breaks down the critical difference between startup costs and operating expenses, using two real-world case studies: becoming a realtor or buying a franchise. Steven shares honest insights about the emotional rollercoaster of business ownership and explains why some expenses can be deducted immediately while others must be capitalized and amortized over years. Whether you're considering a low-capital business like real estate or a capital-intensive franchise, this episode will help you understand what's truly deductible, what must be depreciated, and how to set yourself up for financial success from day one. [0:00] Introduction: Why people start businesses at the beginning of the year [0:36] Should you be a business owner? The emotional reality[1:54] Real stories: When business ownership doesn't work out[3:33] The ups and downs of entrepreneurship[4:14] Choosing your business entity structure[5:35] The two critical timelines: Before vs. after starting[6:19] Case Study #1: Becoming a realtor[7:16] The 5 core tax rules every business owner must know[8:44] What "capitalized" really means[10:00] Section 179 and equipment deductions[10:54] Subscribe and leave a review![11:34] The IRS taxes the timeline, not your intentions[11:54] Realtor licensing costs: What's deductible?[13:22] Pre-licensing vs. post-licensing expenses[14:09] Ongoing realtor expenses you CAN deduct[14:31] Can you deduct clothing, hair, and makeup?[16:00] Equipment, home office, and the $2,500 safe harbor rule[17:11] Home office deduction: Standard vs. itemized[19:01] Case Study #2: Franchise startup[19:37] Using retirement funds (ROBS) to buy a franchise[20:39] What must be capitalized in a franchise[22:18] Section 179 for tangible equipment[23:47] Post-opening deductible costs[24:26] Side-by-side comparison: Realtor vs. Franchise[24:36] Real story: The nurse who lost his retirement[25:37] Success story: ROBS loan + Profit First system[26:18] Introduction to Profit First methodology[27:03] Closing: Free discovery call offerSEO/ Keywords: Starting a business, business startup costs, tax deductions for new business, franchise tax rules, realtor tax deductions, capitalized expenses, Section 179 deduction, home office deduction, business entity types, LLC vs S-corp, startup expenses vs operating expenses, small business accounting, business tax planning, franchise fees deductible, real estate agent expenses, depreciation vs amortization, business startup 2026, entrepreneur tax tips, small business bookkeeping, Profit First system Hashtags: StartingABusiness #SmallBusinessTax #EntrepreneurTips #TaxDeductions #FranchiseBusiness #RealtorTips #BusinessStartup #TaxStrategy #SmallBizOwner #Entrepreneurship #BusinessAccounting #StartupCosts #Section179 #HomeOfficeDeduction #ProfitFirst #BusinessPlanning #TaxPlanning2026 #NewBusinessOwner #SelfEmployed #BusinessFinance @savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    28 min

  2. JAN 7

    How to Pay Yourself as a Business Owner- Consistent Paychecks, Tax Tips & Profit First Explained: Episode 18

    Title: How to Pay Yourself as a Business Owner- Consistent Paychecks, Tax Tips & Profit First Explained: Episode 18 Description: Are you a business owner struggling with inconsistent paychecks? In this episode, Steven Young- host of Savvy or Surrender Podcast breaks down exactly how to pay yourself—no matter your business structure (Sole Proprietor, LLC, Partnership, S Corp, or C Corp). Learn the difference between draws, salaries, and distributions, how to set up your accounts for predictable income, and how to use the Profit First method to ensure you get paid—every month. Plus, get actionable tax tips to keep more of what you earn and avoid common mistakes that cost business owners thousands. Whether you’re just starting out or looking to optimize your pay structure, this episode is packed with practical advice to help you become a savvy CEO and never surrender to the challenges of entrepreneurship. Timestamps: 00:00 – Why Your Paycheck Feels Optional 00:31 – Meet Steven Young & The Savvy Podcast 01:37 – How Business Structure Affects Your Pay 03:23 – Sole Proprietor & LLC: Draws Explained 05:26 – The Importance of Separate Business Accounts 07:03 – How Taxes Work on Business Income 09:02 – Estimated Tax Payments & Key Dates 12:15 – Paying Yourself Like Payroll (Even Without W2) 14:00 – Partnerships & Guaranteed Payments 16:36 – S Corps: Salary vs. Distributions 19:28 – What’s a “Reasonable Salary” for S Corps? 23:11 – Why Owner Pay is Often Inconsistent 26:06 – The Profit First Method for Consistent Pay 29:15 – Setting Up Owner’s Pay & Buffer Accounts 32:10 – S Corp Tax Tips & Avoiding Common Mistakes 35:10 – How to Build a Pay Buffer for Slow Months 38:00 – Q&A, Resources, and Final Thoughts #BusinessOwner #Entrepreneur #ProfitFirst #SmallBusiness #TaxTips #SoleProprietor #LLC #SCorp #BusinessFinance #SavvyCEO Keywords: how to pay yourself as a business owner, business owner salary, profit first method, owner’s draw vs salary, S corp salary, LLC pay structure, business tax tips, consistent paycheck, small business finance, Steven Young, Savvy Podcast, business owner mistakes, how to set up business accounts, estimated tax payments, guaranteed payments, owner distributions, business structure pay, entrepreneur pay, business owner financial advice Resources: Schedule a discovery call: https://meetwithsavvy.comGet the Tax Savings Playbook: https://savvytaxstrategies.comDon’t forget to like, subscribe, and leave a review if you found this episode helpful! @savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    30 min

  3. 12/31/2025

    From Side Hustle To A 570 Percent Leap: What Worked, What Didn’t, And What’s Next

    What if your year-end review actually changed next year’s results? We unpack a wild stretch of growth—moving from a part-time practice to a team of four, relocating into a new office, and crossing the 500% revenue growth mark—while being honest about what it cost and what we’d do differently. The big story isn’t just the numbers; it’s how we used clarity to make faster, better decisions when plans went sideways. We break down the channels that truly moved the needle. BNI and local partner networks accounted for roughly half of new business thanks to layered referrals and built-in trust. Dave Ramsey leads paid for themselves and seeded a recurring client base. On the flip side, Facebook ads devoured budget with low-quality leads and weak ROI, so we shut them down and doubled down on what worked. You’ll also hear the full SBA office saga: a near-miss purchase, a creative lease-to-own path, and why pristine books are non-negotiable when lenders start asking hard questions. Staffing became the crucible where our systems were tested. Turnover, a sudden absence, and undocumented work created client pain we had to own. The fix: move tax and bookkeeping workflows to the cloud, standardize checklists and handoffs, and set clear expectations that survive personnel changes. Along the way, we lean into Profit First to avoid “growing broke,” tighten collections, and track simple KPIs—lead source mix, CAC, LTV, cycle times, realization rates—that guide hiring, spending, and service promises. The goal is bigger than surviving tax season. We’re building durable profit and creating options that compound for families over time. Want the framework we use to turn reflection into action? We map out five steps—what worked, what didn’t, biggest wins, biggest challenges, and how to fix it—so you can run your own review and enter 2026 with a clean plan. If this resonates, subscribe, share the episode with a business owner who needs honest numbers, and leave a quick review to help more listeners find us. Ready to talk? Book a discovery call at meetwithsavvy.com and let’s see if we’re a fit. @savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    29 min

  4. 12/24/2025

    Decoding the Business Credit Myth- Steps to Build Business Credit with Jimmy Rios: Episode 16

    Title: Decoding the Business Credit Myth-Steps to Build Business Credit with Jimmy Rios: Episode 16 ❗Download the episode to learn how to build and use business credit the right way—without accidentally putting your personal finances on the chopping block.  Overall Summary: In this episode of the Savvy or Surrender Podcast, host Steven Young sits down with Jimmy Rios, business credit expert, author, and founder of Rios Business Advisors. Jimmy shares his expertise on how business owners can establish and grow business credit, the key differences between personal and business credit, and actionable steps to separate your business finances for long-term success. The conversation covers common misconceptions, practical tips for getting started, and the importance of professionalizing your business structure. Whether you’re a new entrepreneur or a seasoned business owner, this episode provides a clear roadmap to unlocking business credit opportunities. Timestamps: 00:00 – Introduction to the episode and guest Jimmy Rios01:21 – Jimmy’s background, family, and business journey03:45 – The story behind Rios Business Advisors and their holistic approach06:50 – Transition to business credit: why it matters07:23 – Common misconceptions about business credit09:36 – Steps to start building business credit (LLC, EIN, business bank account)12:00 – Importance of separating personal and business finances14:10 – Setting up business accounts and net 30 vendors16:00 – Professionalizing your business: address, phone, email, and listings18:00 – Getting your DUNS number and registering with credit bureaus19:41 – Where to apply for business credit first (hardware stores, gas cards, etc.)21:00 – How business credit is reported and how to build it over time23:00 – Differences between personal and business credit bureaus25:00 – Final advice: don’t procrastinate, get started now26:30 – How to contact Jimmy Rios and Rios Business Advisors28:00 – Host’s closing remarks and call to actionHashtags: BusinessCredit #Entrepreneurship #SmallBusiness #CreditBuilding #FinanceTips #Podcast #BusinessGrowth #JimmyRios #SavvyOrSurrender SEO Keywords: business credit, how to build business credit, Jimmy Rios, Rios Business Advisors, business credit myth, business credit steps, business credit vs personal credit, DUNS number, net 30 vendors, business bank account, LLC setup, business credit bureaus, small business finance, business funding, business loans, business credit cards, business structure, financial planning, Savvy or Surrender Podcast @savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    26 min

  5. 12/17/2025

    7 Essential Year-End Tax Moves for Business Owners: Episode 15

    Title: 7 Essential Year-End Tax Moves for Business Owners: Episode 15 ❗Don’t forget to download the episode — that way you never miss the game-changing cash flow tips that keep your business running strong.  Summary: In this episode of the Savvy or Surrender Podcast, host Steven Young breaks down seven actionable, IRS-approved tax strategies every business owner should consider before the year ends. From accelerating legitimate expenses to leveraging retirement contributions and understanding the latest on state and local tax deductions, Steven provides practical advice to help you maximize deductions, minimize tax liability, and set your business up for financial success in the coming year. Bonus tips on charitable giving and avoiding common tax planning mistakes are also included. Timestamps: 00:00 – Introduction: Year-end tax scramble & episode overview00:28 – Host intro & subscribe reminder00:49 – No-fluff approach & who this episode is for01:39 – Move #1: Accelerate legitimate expenses03:19 – Move #2: Equipment and vehicle purchases04:31 – Section 179 & bonus depreciation explained04:51 – Move #3: Retirement contributions (Solo 401k, HSA, SEP IRA)08:09 – HSA changes & maximizing health savings09:54 – Self-directed plans & tax-free crypto trading09:49 – Move #4: Pay yourself & timing for S-Corp owners10:07 – Determining reasonable salary11:05 – Payroll, bonuses, and year-end deadlines11:45 – Move #5: Accountable plan setup for reimbursements13:12 – How to document and implement an accountable plan15:21 – Real-world example: Contractor savings16:40 – Importance of formalizing the plan & business documentation17:52 – Move #6: Harvest losses & clean up your books18:33 – Writing off bad debt, obsolete inventory, and accurate bookkeeping19:34 – Move #7: State and local tax (SALT) strategies & pass-through entity tax22:31 – Example scenario: S-Corp, state tax, and federal savings25:01 – Bonus moves: Charitable giving & Idaho Youth Ranch credit26:33 – Biggest year-end mistake: Waiting to plan27:00 – Call to action: Schedule a discovery call & subscribeKeywords: year-end tax planning, business tax deductions, IRS strategies, Section 179, bonus depreciation, Solo 401k, HSA, SEP IRA, accountable plan, S-Corp, payroll, pass-through entity tax, SALT deduction, bookkeeping, charitable giving, tax credits, small business, financial planning, Steven Young, Savvy or Surrender Podcast SEO Description: Discover 7 must-do year-end tax strategies for business owners with Steven Young on the Savvy or Surrender Podcast. Learn how to maximize deductions, leverage retirement accounts, set up accountable plans, and take advantage of new IRS rules before December 31st. Perfect for entrepreneurs, S-Corp owners, and anyone looking to save on taxes and grow their business wealth. Hashtags: TaxPlanning #SmallBusiness #YearEndTax #BusinessOwner #TaxDeductions #SoleProprietor #SCorp #RetirementPlanning #Bookkeeping #FinancialSuccess #SavvyOrSurrender #StevenYoung #Podcast #Entrepreneur #TaxTips@savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    31 min

  6. 12/10/2025

    Quarterly Tax Payments for Contractors- Avoid Penalties & Stress: Episode 14

    Title: Quarterly Tax Payments for Contractors- Avoid Penalties & Stress: Episode 14 ❗Don’t forget to download the episode — that way you never miss the game-changing cash flow tips that keep your business running strong.  In this episode of The Savvy or Surrender Podcast, host Steven Young demystifies the process of paying estimated taxes for business owners and contractors. He covers who needs to pay quarterly taxes, how to calculate your payments, and the importance of setting aside money regularly—highlighting the Profit First method. Steven also explains the IRS Safe Harbor Rule, common mistakes to avoid, and what to do if you fall behind. The episode wraps up with practical advice for S Corp owners, tips for avoiding penalties, and a call to action for listeners to take control of their tax planning. 00:00 – Introduction: Why estimated taxes matter for business owners 00:22 – Host introduction and episode overview 00:50 – Call to action: Subscribe, like, and review 01:10 – What are estimated taxes? Who needs to pay them? 02:09 – Federal and state estimated tax basics 03:01 – Who is required to pay quarterly taxes? 04:13 – Common mistakes: Forgetting to set aside money for taxes 05:01 – The IRS Safe Harbor Rule explained 06:34 – Calculating your estimated tax payments 08:21 – Mistake #1: Waiting until tax time 09:10 – Penalties and how to get them abated 10:49 – Mistake #2: Not setting money aside weekly (Profit First method) 11:53 – S Corp owners: Payroll and estimated taxes 13:33 – How and when to pay estimated taxes (quarterly deadlines) 15:21 – What to do if you’re behind on payments 16:09 – Penalties, interest, and the importance of filing early 17:13 – Why the IRS may not contact you right away 18:13 – States vs. IRS: Who acts faster? 18:33 – Final thoughts: Having a plan and using Profit First 19:13 – Call to action: Schedule a free discovery call and holiday wishes SEO Keywords Estimated taxesQuarterly tax paymentsIRS Safe Harbor RuleBusiness owner taxesS Corp tax planningProfit First methodTax penalties and abatementState income taxSmall business tax tipsTax deadlines for business ownersEstimatedTaxes #SmallBusiness #TaxTips #ProfitFirst #BusinessOwner #TaxPlanning #SoleProprietor #SCorp #Entrepreneur #IRS #TaxSeason #FinancialPlanning #Podcast@savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    23 min

  7. 12/03/2025

    5 Audit Triggers Contractors MUST Avoid: Episode 13

    Title: 5 Audit Triggers Contractors MUST Avoid  Season 1 Episode 13 ❗Don’t forget to download the episode — that way you never miss the game-changing cash flow tips that keep your business running strong.  Episode Summary: In this episode of the Savvy or Surrender Podcast, host Steven Young breaks down the five most common mistakes that increase your chances of getting audited by the IRS as a business owner—especially for contractors and those in the trades. Steven explains how audits are triggered, what red flags the IRS looks for, and provides actionable tips to avoid costly mistakes. From underreported income to messy records and misclassified workers, this episode is packed with practical advice to help you stay compliant, organized, and stress-free come tax season. Timestamps: 00:00 – Introduction: Why audits happen and what to expect 01:18 – Welcome to the Savvy or Surrender Podcast 02:36 – IRS audit algorithms and how they target businesses 03:58 – What to expect from a typical audit letter 06:44 – Red Flag #1: Underreported income (1099s, payment processors, cash jobs) 09:44 – How to handle 1099-Ks from Venmo, PayPal, and more 11:40 – Bookkeeping software recommendations 13:10 – Red Flag #2: Excessive or unusual deductions (auto, equipment, travel) 15:00 – How to document large write-offs and avoid expense clumping 18:24 – Red Flag #3: Misclassifying workers (contractors vs. employees) 20:23 – The IRS test for employee vs. contractor 23:33 – Why you need W-9s and written contracts 25:33 – Red Flag #4: Messy or missing records (receipts, mileage logs, estimates) 28:21 – Best practices for digital recordkeeping 31:02 – Red Flag #5: Home office deduction mistakes 33:14 – How to correctly claim your home office and storage space 35:28 – The importance of consistency, documentation, and honesty 38:00 – Outro: How to get more support from the Savvy Tax Hub SEO Keywords: IRS audit, business audit red flags, contractor tax mistakes, bookkeeping tips, 1099 reporting, home office deduction, business tax compliance, small business taxes, audit triggers, tax documentation, Savvy or Surrender Podcast, Steven Young, Savvy Tax Strategies, bookkeeping software, expense tracking, employee vs contractor, W-9 forms, tax receipts, profit first, business deductions, audit prevention Hashtags: IRS #TaxAudit #BusinessTips #Contractors #Bookkeeping #TaxCompliance #SmallBusiness #1099 #HomeOfficeDeduction #SavvyOrSurrender #TaxStrategy #AuditPrevention #ProfitFirst #Entrepreneur #TaxSeason@savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    25 min

  8. 11/26/2025

    10 Tax Deductions Contractors Miss (and Bonus Strategies!): Episode 12

    Title: 10 Tax Deductions Contractors Miss (and Bonus Strategies!) ❗Don’t forget to download the episode — that way you never miss the game-changing cash flow tips that keep your business running strong.  Summary: Steven Young shares the top 10 tax deductions contractors often miss, plus two bonus strategies to save even more. Learn how to track expenses, avoid common mistakes, and maximize your write-offs before year-end. Perfect for contractors looking to keep more of their hard-earned money. Host: Steven Young, Savvy or Surrender Podcast [00:00] Introduction Why contractors overpay taxesOverview of 10 deductions and bonus strategies[00:19] Meet Your Host Steven Young introduces the episode and its focus on maximizing deductions[01:37] Deduction #1: Tools & Equipment What qualifies as deductible tools and equipmentSafe harbor rule for items under $2,500Section 179 and bonus depreciationCommon mistakes: missing receipts, cash purchases[05:11] Deduction #2: Mileage vs. Actual Vehicle Expenses Standard mileage vs. actual expensesWhen to use each methodTracking mileage: QuickBooks app, MileIQ[09:18] Deduction #3: Uniforms & Safety Gear What clothing and gear is deductibleImportance of capturing receipts[11:19] Deduction #4: Job Supplies & Materials Commonly missed supplies (pipes, wire, nails, etc.)Tracking materials used on jobs[12:21] Deduction #5: Subcontractor Payments Importance of W-9s and 1099sAudit triggers and best practices[14:31] Deduction #6: Cell Phone & Internet Calculating business use percentageDeducting software and cloud services[16:46] Deduction #7: Business Insurance Types of insurance you can deductTips for audits and tracking insurance codes[23:45] Deduction #8: Education, Licensing & Training Deducting courses, seminars, and coaching[24:52] Deduction #9: Home Office & Storage Space Rules for home office deductionIncluding garage and storage areas[28:07] Deduction #10: Meals, Travel & Overnight Jobs What qualifies for 50% vs. 100% deductionUsing per diem rates[29:35] Bonus Strategy #1: Board Meetings How to write off meals and meetings with proper documentation[31:19] Bonus Strategy #2: The Augusta Rule Renting your home to your business for meetings/events[32:55] Year-End Wrap-Up Importance of having your books in orderCall to action: Schedule a discovery call at meetwithsavvy.comSEO Keywords: contractor tax deductions, small business tax tips, Section 179, bonus depreciation, subcontractor 1099, home office deduction, business insurance audit, contractor bookkeeping, tax strategies for contractors, business mileage deduction, Augusta Rule, board meeting write-off ContractorTaxTips #SmallBusinessFinance #TaxDeductions #SavvyTaxStrategies #Bookkeeping #Section179 #HomeOfficeDeduction #BusinessInsurance #Subcontractor #AugustaRule #TaxStrategy #PodcastShowNotes@savvytaxes savvytaxhub.com savvyceoalliance.com savvyceoshop.com meetwithsavvy.com

    34 min
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Ratings & Reviews

5
out of 5
2 Ratings

About

Running a business shouldn’t feel like a never-ending fight for cash. On Savvy or Surrender, host Steven Young cuts through the noise and shows real business owners how to take control of their numbers, keep more of their hard-earned money, and build a business that actually pays them back. Each episode gives you practical strategies you can use right away — from fixing cash flow bottlenecks, to implementing Profit First, to unlocking tax savings most owners never hear about. No jargon. No fluff. Just clear guidance, real-talk coaching, and a little humor to keep things human. Whether you’re a contractor, service pro, or business owner who’s tired of working hard with nothing to show for it, this is your go-to show for leveling up your money decisions and building a business that supports your life… not the other way around. Choose to be Savvy — or surrender your profit. The choice is yours.

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