The money chat your group text avoids—but your bank account really needs. Money expert, CPA, and founder of Knies & Co., Britney Stuttle, joined us to break down what entrepreneurs should be doing before the year wraps…minus the confusing tax jargon or shame.
Why it matters: A little strategy now means bigger deductions, lower taxes, and no more leaving money on the table—setting you up for a stronger, smoother Q1.
Key takeaways:
- Strategic Year-End Buying: Move planned expenses (like travel, equipment, or supplies) into this year to maximize deductions. Just don’t buy things you don’t actually need.
- Know What Counts as a Deduction: Every deduction must be “ordinary and necessary.” If an accountant recommends something that feels aggressive, ask for the tax code to keep on file.
- Can You Hire Your Kids for Tax Savings? The short answer: Yes! Paying children under 18 as W-2 employees can shift income into their tax-free bracket—and even allow them to contribute to a Roth IRA.
- Fix Bookkeeping (Seriously): The #1 issue Britney sees is missed deductions due to messy books. Reconcile now and make sure you’re deducting business use of personal items like your phone or internet.
The bottom line: Don’t wait until April. A few simple steps—starting with clean books—give you more control over your money and help you walk into the new year financially confident.
Catch the full replay to hear Britney’s expert financial advice and keep an eye out for the next MoneyTalks!
Posted in Business Strategy + Tips, Let's Talk Money
