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The Real Buzz
The Real Buzz, a podcast designed with small business owners in mind who are serious about reducing their tax liability. Hosted by accounting and tax experts, Eric and Melissa Broughton of Busy Bee Advisors, this informative, and yes, even entertaining, podcast focuses on sharing forward thinking strategies to help you get organized, plan ahead and ultimately pay less in taxes. As small business owners themselves, they walk the walk and boy do they talk the talk. Their unexpected down-to-earth style and practical, actionable strategies provide what you’ll need to insure your most efficient tax strategy.Visit www.busybeeadvisors.com for all podcast episodes, practical resources and more.
The Real Buzz
Episode 12: Questions You've Asked About Tax Liabilities with Answers From Your Hosts
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Eric & Melissa Broughton
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Season 1
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Episode 12
Eric and I would love to hear from you. Tell us what you think of the podcast.
On this episode Eric and Melissa answer questions from real prospective clients who called Busy Bee for tax advice (names and scenarios have been changed.) They break down two different scenarios and how they advise a client could reduce their tax liability.
Some of the highlights from the show include:
- Set up a corporation! If you are filing as a sole proprietor you are paying self employment taxes and losing 15.3% of your profits to taxes you shouldn’t have to pay.
- If you run your business from home you are likely paying for personal expenses that are actually business expenses.
- Make sure you take inventory of your assets so they can be accounted for properly. Computers, tablets, phones, and storage equipment, all these can be accounted for to reduce your tax liability.
- Pay your children! They can do something for you, and you can pay them and they save money for college while reducing your taxes.
Listen to this episode to hear more tips.
For more information and to find resources from the show, visit www.busybeeadvisors.com.
To learn more about Busy Bee accounting and services, or to simply connect with Eric or Melissa, find them at Busy Bee Advisors.
