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Blessed + Bossed Up

317: Everything You Need to Know About Tax Season w| Beth McNeil

Blessed + Bossed Up

Anchored Media Network

Business, Education, Entrepreneurship, Self-improvement

4.82.2K Ratings

🗓️ 6 February 2023

⏱️ 39 minutes

🧾️ Download transcript

Summary

In this part 2 of the interview, Tatum sits down with Beth McNeil, CEO of Taz Biz USA to discuss taxes and what you need to know as an entrepreneur and individual this tax season.

About our guest:

God fearing, passionate, innovator, motivator, and ethical...These are a few qualities used to describe our Founder and CEO Beth McNeil, EA, CTR. She is a mother, wife, and leader in her community, Mrs. McNeil’s love for problem-solving and helping fellow Christians has made her business a ministry in the community. Her motto is “we are in the tax resolution business, not in the client retention business”. With over 15 years of experience in the industry, she has mastered her winning approach with the IRS, which has resulted in 10s of millions of dollars in saving for her clients. Although her company has grown by leaps and bounds over the last 10 years, she remains involved in every case to ensure her clients receive her personal touch.

Tax Biz USA provides accounting and tax resolution for individuals, the self-employed, and small businesses. To book a free consultation and get guidance on your unique situation, visit https://taxbizusa.com/ today or call 1-844-482-9249.

About the Simplified Tax Resolution Podcast:

The Simplified Tax Resolution Podcast is a bi-weekly podcast discussing IRS debt resolution, retirement planning, accurate and affordable tax preparation, and more. This podcast is presented by Tax Biz USA, the premier tax agency focused on affordable tax resolution services for small businesses and individuals preparing for retirement. Hosted by Cheryl Jackson, this podcast brings simplicity to a complex issue.

Take a listen: https://link.chtbl.com/simplifiedtaxresolution



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Transcript

Click on a timestamp to play from that location

0:00.0

Let's talk about business a little bit because this audience are either already entrepreneurs or aspiring entrepreneurs.

0:06.8

What are some key things that you would say every entrepreneur needs and place for that foundation?

0:13.3

Well, it is a thing. Sometimes you're starting something that, you know, it takes years for it to start making money or profit, right?

0:21.0

So there's stage and where to be in its stage of your business.

0:26.3

So at the beginning, of course, you want to legitimize your business by registering it with the state government.

0:33.1

Most people thinking, oh, I got an EIN number and I have my name. I'm legitimate. No, you're not.

0:41.7

A EIN number does not make you legitimate. What makes you legitimate is to register your LLC or your corporation with the state.

0:50.0

State is what makes you legitimate. So we get a lot of that and I have to hate you got to file those with the state and sometimes they've already started the business and the name is not even available.

1:00.7

Because they did not do the proper step to start their business. So get a free consultation. We offer free consultation to anyone who wants to start a business, who wants to go into business or already already have a business, but then do the proper step and their business just take off.

1:16.8

Especially right now with the internet age, you know, with the gig economic, you know, with influencers.

1:23.9

They are making money left and right and never thought about, oh, this is a business. So those are the things that, you know, you put in place.

1:30.2

If you are, you start up with, you know, with your name, make sure the name that you are using is available to be used.

1:35.5

Are you going to get sued and you don't want that to, you know, try from starting another business.

1:40.2

So, yeah, so starting with why getting those consultation and meeting with someone that can give you some good advice on where to start.

1:49.3

But I will start with just, you know, registering, starting with a bank, a brand new account, starting with a bank account.

1:55.6

A lot of people don't do that. They come and go to fund. They put their regular income with their business income.

2:01.5

And I always thinking all of my business and they want to be double tax on that. So it's good to separate them so that you know that, hey, this income is for my business.

2:10.4

This income is for my personal W2 job. So keep them separate. And I would advise that if you are going to start a business and you had the good credit, get a business card and put everything on that.

2:21.2

Don't go to McDonald's. Don't go to Starbucks with that business card because I, those are not expensive.

2:27.9

You cannot get lunch for yourself and say, it's like expense.

2:32.7

Well, make sure it is legitimate expenses. If you're going to meet with a partner and you're going to try to get their business or, you know, potential client.

2:41.9

And you want to treat them to a coffee. Yes, your coffee and their coffee become deduction.

...

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