How to Avoid a Surprise Tax Bill as a Small Business Owner
Manage episode 519031527 series 3032845
No business owner wants to be surprised by a big tax bill at the end of the year. In this episode of The Profit Pillars Show, we're breaking down how to plan ahead, save strategically, and work with your accountant to avoid tax season stress. Parker Stevenson, CEO of Evolved Finance and author of Profit Pillars, explains why quarterly estimated tax payments are the key to staying ahead, how accurate monthly bookkeeping gives you the clarity to forecast taxes with confidence, and why separating your tax savings from your regular business savings helps protect your cash flow all year long.
If you've ever wished you had real-world financial guidance and smarter business strategies, this show is for you.
1:52 Why quarterly estimated taxes prevent year-end panic 3:32 Using monthly bookkeeping to estimate your tax bill 4:43 How much of your profit to save for taxes 10:11 Why proactive tax planning starts mid-year 12:12 The truth about big tax bills and what they really mean
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Resources & Links From This Episode
π Profit Pillars Book β https://evolvedfinance.com/book πΌ Learn more about Evolved Finance β https://evolvedfinance.com/services π Finance Tools & Courses β https://evolvedfinance.com/learn
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About the Show
The Profit Pillars Show by Evolved Finance gives entrepreneurs the guidance and clarity they wish they had sooner. Each episode delivers actionable advice based on Parker's years of experience helping business owners grow stronger, more profitable businesses.
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Other Ways to Connect with Us
πΈ Instagram β https://www.instagram.com/evolvedfinance/ πΌ LinkedIn β https://linkedin.com/company/evolved-financeπ§ Listen on Spotify β https://open.spotify.com/show/6ggjihbD5VfKhhjkth32pZ
243 episodes