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Many business owners are paying far more in taxes than they should, and the problem is only getting bigger with the 2025 tax sunset approaching. In this episode, John Smallwood reveals the critical mistakes entrepreneurs make when it comes to deductions, from missing out on the pass-through entity tax to underutilizing the Qualified Business Income (QBI) deduction. Discover how to stop financial leaks, prepare for upcoming law changes, and protect the profits your business works so hard to generate.

Chapters:

(00:00 ) Introduction

(02:09 ) Why Taxes Are the Greatest Wealth Leak

(03:13 ) Pass-Through Entity Tax and QBI Explained

(05:36 ) How State Taxes and SALT Caps Impact Businesses

(08:38 ) Tax Savings Strategies That Add Up

(09:18 ) Preparing for the 2025 Tax Law Sunset

(13:34 ) The Opportunity Cost of Missed Deductions

Business owners often miss deductions that could save thousands. Which tax strategy have you found most valuable? Share your experience in the comments.

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