))
184 \\ The Hidden Tax Mistake That Could Put Your Business at Risk of an Audit
Manage episode 466300972 series 3399967
Content provided by Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert, Tiffany Phillips - CPA, Small Business Money Mentor, and Financial Expert. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert, Tiffany Phillips - CPA, Small Business Money Mentor, and Financial Expert or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
Are you unknowingly overpaying on your taxes? In this episode, I uncover a crucial IRS election that many business owners miss—the De Minimis Safe Harbor Election. This simple step allows you to expense smaller assets upfront instead of depreciating them over years, saving you money and reducing your tax burden.
I’ll walk you through what this election is, how it works, and why it’s essential for businesses with equipment, computers, and other fixed assets. If you’re preparing your own taxes or unsure if your CPA is making this election, this episode is a must-listen. Missing this step could mean paying more in taxes or risking an audit.
Don’t leave money on the table! Tune in now to learn how to use this election to your advantage and make sure your taxes are done right this year.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
☎️ Are you overpaying in taxes every year? Schedule a FREE discovery call to find out!
📧 Contact Me --> [email protected]
📲 Follow me on IG @ the.tiffany.p.cpa
217 episoade
Distribuie
