24 min
#33: Five Advanced Tax Strategies That Could Give You $100k+ To Invest Back Into Your Business Without Touching Your Profits The Business Growth Show
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Tiffany Phillips is a CPA in the greater Houston metroplex, but she is not your average CPA. On average, Tiffany saves her clients over $97,000 in their first year alone in tax savings. Tiffany is going to share five advanced tax strategies that could give you $100,000 plus to invest back into your business without touching your profits.
Learn More Earn More Business Growth Podcast
Host: Brian Webb
Guest: Tiffany Phillips
Episode 33: Five Advanced Tax Strategies That Could Give You $100k+ To Invest Back Into Your Business Without Touching Your Profits
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SUBSCRIBE
Apple | Google Play | Spotify | Pandora | Amazon Music | iHeartRadio | Stitcher
________________________________
RESOURCES & HELPFUL LINKS
Whatbox Digital
Tiffany Phillips Website
________________________________
TRANSCRIPT
Brian Webb:
Hey, everyone. Welcome to the show today. It's fun week after week to bring you content that helps you to make more money, save more money, grow your business smarter, grow your business faster. Today's going to be no exception. My guest today is Tiffany Phillips. Tiffany is a CPA that serves here in the greater Houston metroplex, but she is not your average CPA, certainly not in my experience. On average, Tiffany saves her clients, on average, over $97,000 in their first year alone in tax savings. And she's my guest, your guest today on the podcast to share five advanced tax strategies that most people don't know and in my personal experience, most CPAs do not bring to their clients. So, imagine if you could save nearly $100,000 and you could have that capital to reinvest back into your business, into growth without dipping into your own profit.
Wouldn't that be amazing? So, let's jump into my interview today with Tiffany Phillips. She's going to save you a lot of money this year and in the years to come. I'm excited to have you on the podcast today. I know that you are going to share five advanced tax strategies that can really save people a lot of money. And I had shared even in the introduction today that imagine if the typical business owner, the typical small business owner was handed a check for a $100,000 or $150,000, or for that matter 20, 30, 50, $70,000 that they could reinvest back into their business for growth without dipping into their profits, that would be an amazing thing, right?
Tiffany Phillips:
Yeah. It's pretty amazing not having to send that money off to the IRS and having more control over what you're able to do with that for sure.
Brian Webb:
Yeah. And to do that ethically and legally, of course.
Tiffany Phillips:
Of course.
Brian Webb:
Yeah, absolutely. And so, you're going to share five advanced tax strategies today. The first one I'm excited for you to talk about because most people don't know this. Well, actually I think all five of these most people don't know. But let's start by talking about hiring the children, El Ninos. Talk about that tax savings strategy, I'm curious.
Tiffany Phillips:
Yeah. Oftentimes as business owners, we're looking for ways to kind of shift money, get them out of our higher tax brackets into either lower tax brackets or just eliminate the tax altogether. When it comes to paying the kids it's pretty cool because you're able to actually pay them for work that they may already be doing, or maybe they're not. Maybe you have a social media campaign that you need help and your 16-year old just happens to be killer at IG-
Brian Webb:
Okay.
Tiffany Phillips:
... Instagram or YouTube videos, just something, right? Or maybe you need your dentist and you're looking for some new photography for your website or your pamphlets and your kids are your models. And so, there's all sorts of ways that that back can happen, and what ends up happening from a technical or tax perspective is those kids have to be paid in a separate entity to avoid paying payroll taxes.
That's really payroll taxes. And then a lower tax br
Tiffany Phillips is a CPA in the greater Houston metroplex, but she is not your average CPA. On average, Tiffany saves her clients over $97,000 in their first year alone in tax savings. Tiffany is going to share five advanced tax strategies that could give you $100,000 plus to invest back into your business without touching your profits.
Learn More Earn More Business Growth Podcast
Host: Brian Webb
Guest: Tiffany Phillips
Episode 33: Five Advanced Tax Strategies That Could Give You $100k+ To Invest Back Into Your Business Without Touching Your Profits
__________________________________
SUBSCRIBE
Apple | Google Play | Spotify | Pandora | Amazon Music | iHeartRadio | Stitcher
________________________________
RESOURCES & HELPFUL LINKS
Whatbox Digital
Tiffany Phillips Website
________________________________
TRANSCRIPT
Brian Webb:
Hey, everyone. Welcome to the show today. It's fun week after week to bring you content that helps you to make more money, save more money, grow your business smarter, grow your business faster. Today's going to be no exception. My guest today is Tiffany Phillips. Tiffany is a CPA that serves here in the greater Houston metroplex, but she is not your average CPA, certainly not in my experience. On average, Tiffany saves her clients, on average, over $97,000 in their first year alone in tax savings. And she's my guest, your guest today on the podcast to share five advanced tax strategies that most people don't know and in my personal experience, most CPAs do not bring to their clients. So, imagine if you could save nearly $100,000 and you could have that capital to reinvest back into your business, into growth without dipping into your own profit.
Wouldn't that be amazing? So, let's jump into my interview today with Tiffany Phillips. She's going to save you a lot of money this year and in the years to come. I'm excited to have you on the podcast today. I know that you are going to share five advanced tax strategies that can really save people a lot of money. And I had shared even in the introduction today that imagine if the typical business owner, the typical small business owner was handed a check for a $100,000 or $150,000, or for that matter 20, 30, 50, $70,000 that they could reinvest back into their business for growth without dipping into their profits, that would be an amazing thing, right?
Tiffany Phillips:
Yeah. It's pretty amazing not having to send that money off to the IRS and having more control over what you're able to do with that for sure.
Brian Webb:
Yeah. And to do that ethically and legally, of course.
Tiffany Phillips:
Of course.
Brian Webb:
Yeah, absolutely. And so, you're going to share five advanced tax strategies today. The first one I'm excited for you to talk about because most people don't know this. Well, actually I think all five of these most people don't know. But let's start by talking about hiring the children, El Ninos. Talk about that tax savings strategy, I'm curious.
Tiffany Phillips:
Yeah. Oftentimes as business owners, we're looking for ways to kind of shift money, get them out of our higher tax brackets into either lower tax brackets or just eliminate the tax altogether. When it comes to paying the kids it's pretty cool because you're able to actually pay them for work that they may already be doing, or maybe they're not. Maybe you have a social media campaign that you need help and your 16-year old just happens to be killer at IG-
Brian Webb:
Okay.
Tiffany Phillips:
... Instagram or YouTube videos, just something, right? Or maybe you need your dentist and you're looking for some new photography for your website or your pamphlets and your kids are your models. And so, there's all sorts of ways that that back can happen, and what ends up happening from a technical or tax perspective is those kids have to be paid in a separate entity to avoid paying payroll taxes.
That's really payroll taxes. And then a lower tax br
24 min