YFP 333: Small Business Owner Tax Savings Checklist

On this episode, sponsored by First Horizon, YFP Director of Tax, Sean Richards CPA, EA, summarizes a tax checklist for small business owners.

Summary

Too many of us are caught in the trap of only looking at taxes during tax season. As a small business owner, missing the tax mark can have significant consequences in the form of surprise payments due, missed deductions and credits, and constantly wondering if there is something else you should be doing. 

So whether you are a seasoned business owner or just starting, on this week's episode, sponsored by First Horizon, YFP Director of Tax, Sean Richards, CPA, EA walks us through a small business owner tax checklist including eight key areas that demand your attention. He touches on the fundamentals of bookkeeping, qualified deductible expenses, the benefits of financial projections to make estimated payments, the significance of S Corp status, insights on determining your owner's compensation, and much more.

Mentioned on the Show

• Sean Richards on LinkedIn 
• First Horizon’s Pharmacist Home Loan 
• Profit First 
• Simple Numbers, Straight Talk, Big Profits! 
• YFP Tax
• Tim Ulbrich on LinkedIn 
• Subscribe to the YFP Newsletter
• YFP Disclaimer