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Small Business Answer Man

Wondering how you can become better at running your business? Entrepreneurship can be stressful. There is too much to do and not enough time.If you’re isolated in your daily decisions, have no fear! Success and balance are possible. The Small Business Answer Man podcast is here to help you grow your business without losing your mind.We interview experts and find solutions so your business grows and you get your time back. Join the Small Business Answer Man podcast with Gary Wilbers, where you master the art of running a successful business, using practical advice from experts who want to help you succeed.
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  2. Reducing Tax Liability and Building Financial Success | Ep: 337 Melissa Broughton

Reducing Tax Liability and Building Financial Success | Ep: 337 Melissa Broughton

Jul 1, 2024

Husband & wife team Eric & Melissa Broughton are on a passionate mission to help small business owners legally reduce their tax liability.

What business problem do you solve?

In today’s episode, Melissa from Busy Bee Advisors shares expert advice on how to legally reduce tax liability and achieve financial success as a small business owner.

Small Business Answer Man’s Shownotes:

  • Melissa, a tax expert from Busy B Advisors, emphasizes the importance of staying on top of your business’s finances and not just relying on gut feeling.
  • Melissa explains the complexity of the tax code and how it can be overwhelming for business owners, highlighting the importance of being proactive and educating clients throughout the year.
  • Melissa discusses the benefits of becoming a corporation (S-Corp or C-Corp) to alleviate self-employment taxes.
  • She emphasizes the importance of keeping accurate bookkeeping and staying on top of finances every month.
  • Melissa encourages small business owners to shift their mindset and adopt proactive tax planning strategies. By taking a proactive approach to tax planning, entrepreneurs can identify tax-saving opportunities, leverage deductions and credits, and optimize their financial position.
  • She explains that her company’s mission is to help small business owners legally reduce their tax liability.
  • Melissa shares her mission to empower small business owners to take control of their finances and minimize their tax burdens.
  • She emphasizes the importance of having a clear understanding of the tax code and its implications for small business owners.

Melissa Broughton’s Small Business Tip:

  1. Stay on top of your finances and don’t wait until the end of the year to do taxes. 
  2. Consider becoming a corporation to alleviate self-employment taxes and take advantage of business expenses and deductions. 
  3. Educate yourself and work with a good accountant or tax advisor to proactively manage your financial situation and reduce your tax liability.

Connect with Melissa Broughton:

Free Download of the book discussed on the podcast send an email to: info@busybeeadvisors.com  Just put in the message: Send the book.

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