1073. Year-End Tax Strategies for Business Owners: Expert Tips for Business Growth from John Briggs

The Kelly Roach Show

Kelly Roach

Smallbusiness, Selfdevelopment, Confidence, Entrepreneurship, Entrepreneur, Personaldevelopment, Buildyourbusiness, Salessuccess, Improvementcourses, Business, Financialfreedom, Marketing, Personalgrowth, Salesgrowth, Wealth, Entrepreneurialsuccess, Sales

5 • 928 Ratings

🗓️ 31 October 2024

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of The Kelly Roach Show, Kelly dives into year-end tax strategies for business owners with expert insights from tax advisor John Briggs. As the year draws to a close, proactive tax planning becomes essential for entrepreneurs looking to minimize tax burdens and enhance financial benefits. Briggs shares actionable, easy-to-implement tips, covering often-overlooked areas such as reviewing business entity choices, optimizing deductions, and accurately calculating estimated tax payments. This episode highlights the importance of reassessing business structures—whether LLC, S Corporation, or C Corporation—to align more strategically with financial goals. With practical advice on identifying deductible expenses and setting up a tax payment plan to avoid penalties, this discussion equips business owners with the tools to confidently manage year-end tax planning.

Book a Call: Get personalized guidance and achieve your goals by booking a call with Kelly Roach: https://kellyroachcoaching.com/book-now/

Check out the Year-End Planning Guide from John Briggs - https://incitetax.com/yekr

Get a copy of John's Book: https://33rulebook.com

Connect with John's team: https://incitetax.com/contact/

Also in this episode:

Implementing a tax payment plan that includes setting aside a percentage of income regularly can prevent unexpected tax bills and penalties.
Utilize available resources, like comprehensive tax guides, to stay informed on current tax laws and strategic actions.
Continuously educate yourself on tax strategies and consult with experts to ensure your approach is aligned with both current laws and personal business goals.

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The Kelly Roach Show is your business podcast that gives you quick, actionable trainings for business growth, sales growth, and leadership. Kelly teaches about the entrepreneurial mindset and how to leverage building an unstoppable team with high performance strategies for rapid and sustainable business growth.

Transcript

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0:00.0	Welcome to the Kelly Roach Show, the place for no fluff, easy to implement 20 minute or less
0:11.4	business and leadership lessons to help you build a sustainable business that scales.
0:17.3	Lead with integrity and create a lasting legacy. I'm Kelly Roach, former NFL cheerleader and Fortune
0:24.3	500 executive turned eight-figure entrepreneur. Let's get started. Welcome back. This is the Kelly Roach show.
0:32.4	Super excited to have the one and only John Briggs back on the show. Hey, John. Hi, thanks for having me again.
0:39.2	Well, it is year end, and we're doing the super fun exercise that we all really greatly enjoy
0:45.9	of repairing to pay the government more of our hard-earned money. So I brought you back on the show
0:52.4	today, John, because I know your favorite thing is to help
0:55.4	people to put more of that money back in their pocket and cut less checks to the government. So
1:00.8	really excited to have you here. How are you? I'm good. Yeah, Kelly, I think most people agree. I've
1:07.2	only had one person in my life say, I'm wrong with this, but the government is just
1:11.6	not very good at spending our money. And it is our money. You know, just like our clients pay our
1:18.0	bills and our business. As taxpayers, we're kind of paying the bills of the government. We don't
1:23.2	need to go on that soapbox, obviously, but their track record isn't very great. I've always leaned
1:29.7	towards the philosophy that the small business owner is better keeping their money and having
1:35.3	control of what they want to do with it as much as possible. Yes. Oh, my gosh, absolutely.
1:40.0	And you've created so many tools from your book to the year-end guide and everything in between to help people to do this.
1:48.3	But today what I want to specifically talk about is the year-end planning guide and kind of some of the strategies that you're walking people through.
1:54.8	So do you want to just kind of broad-based maybe talk about a couple of the areas where you feel like people have big misses in,
2:02.2	where they're like really not understanding how to strategize the right way to keep their money.
2:08.3	And then obviously we'll tell people how they can download the full guide so that they can
2:12.6	really actually get a strategy and even work with you guys on it if they're looking for that.
	...

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