EPISODE #919
Melissa Broughton
Tax Tips and Takeaways:
How to Be Proactive This Tax Season
919 Melissa Broughton: Tax Tips and Takeaways
Understanding Tax Uncertainties in the Trump Era
into the ever-changing world of tax law, especially amidst the political uncertainties and the new administration’s potential impact on businesses.
Melissa shares the most common questions her clients ask, offering actionable advice on how to proactively handle your taxes for 2024. From choosing the right business entity—whether it’s an S-Corp, C-Corp, or a multi-member LLC—to understanding the importance of strategic planning and developing a robust toolbox of trusted advisors, today’s discussion is packed with insights. Melissa also sheds light on some lesser-known tax credits like R&D and ADA compliance that can significantly benefit small business owners.
Additionally, they discuss the importance of staying informed with accurate sources amidst the flood of misinformation and how business owners can prepare themselves in a time of political change. If you’re looking to protect and grow your business through smart tax strategies and proactive planning, this episode is a must-listen. Tune in for a comprehensive guide to navigating the current tax landscape and future-proofing your financial health.
🔑Key Takeaways🔑
🚀 🌱Why Tax Time Is An Opportunity: Learn to be proactive about your taxes and get early advice from tax professionals.
🤔💭Understanding Uncertainty: With the shifting political landscape, tsunami of Presidential executive orders, and DOGE cuts, make sure you verify facts before making any business decisions based on news or social media.
📈 💡Proactivity over Reactivity: Understanding potential deductions and credits, like R&D tax credits or ADA compliance credits, can result in significant tax savings.
💼🔥Choosing the Right Business Structure: Whether it’s a sole proprietorship, LLC, S Corp, or C Corp, each business entity has different tax implications, and these can change depending on the state.
🛠️✨Tools in Your Arsenal: Why it’s vital to develop a robust toolkit of trusted advisors – including a tax professional, a business attorney, and a financial advisor.
More about Melissa Broughton at BusyBeeAdvisors.com
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More about Melissa at BusyBee Advisors
Melissa Broughton is a tax and accounting specialist and the founder of Busy Bee Advisors, helping business owners and entrepreneurs get savvy about complex, even frustrating, tax and bookkeeping situations. Her background in corporate accounting and auditing complements her desire to serve as a financial translator, of sorts, to sole proprietors and small business owners so that they feel confident in their financial decisions. With her husband Eric, a tax professional, Melissa co-hosts a popular podcast, The Real Buzz: Taking the Sting Out of Taxes. She is a member of Business Network International, Rotary, FU Nights, Women in Consulting, and previously served as finance chair on the Sacramento Children’s Receiving Home Board of Directors.
Get a complimentary copy of Melissa’s new book, The 4-Hour Bookkeeper
Listen to Melissa’s podcast The Real Buzz: Taking the Sting Out of Taxes
Get the Transcript HERE
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