What are 9 steps I can take right now in my business for a better tax situation next year?

Struggling with tax challenges as a small business owner? In this episode of the Ask Ralph Show, Ralph Estep Jr. shares nine tax-saving strategies that helped his client, Mark, save over $30,000 while retaining his employees. Ralph addresses Michael’s concerns about managing taxes and offers practical tips like reviewing business structures, maximizing deductions, planning equipment purchases, and exploring tax credits. He emphasizes the importance of aligning financial decisions with Christian values and seeking professional guidance. Whether you’re navigating tax season or planning for the future, this episode provides actionable advice to handle taxes with wisdom and faith—so you can work toward a better tax situation next year.

https://www.askralphpodcast.com/better-tax-situation-next-year/

Podcast Timestamps:
00:00 Episode Overview: Mark's Tax Struggle
01:16 Listener's Tax Dilemma
02:52 Join the Live Community
05:04 Bible Verse: Matthew 25:14-21
07:03 9 Crucial Steps I Can Take For a Better Tax Situation
07:11 #1 Review Your Business Structure
08:02 #2 Maximize Deductible Expenses
09:17 #3 Plan for Equipment Purchases
10:41 #4 Consider Retirement Contributions
11:57 #5 Review Your Inventory Management
13:35 #6 Assess Your Home Office Deduction
14:27 #7 Explore Tax Credits
15:25 #8 Defer Income (Strategically)
17:00 #9 Consult with a Tax Professional
18:40 Big Takeaway
19:08 Call to Action
20:45 Action Steps for Financial Success
22:06 Final Thoughts

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