Episode 58 | The Tax System is Rigged | Guest: Melissa Broughton
In this thought-provoking episode of Women Choosing Growth, host Tina Sue dives deep into the complexities of the tax system with Melissa Broughton, founder of Busy Bee Advisors and author of The 4-Hour Bookkeeper. Melissa brings her expertise in finance, bookkeeping, and taxes to the forefront, sharing invaluable insights for entrepreneurs and small business owners.
Melissa’s journey from corporate accounting and auditing to helping sole proprietors master their finances is inspiring and filled with humor and practical wisdom. She highlights the importance of working with a trusted tax professional who can educate and guide clients through the intricacies of taxes and bookkeeping, ensuring they feel confident in their financial decisions.
Throughout the episode, Tina and Melissa discuss various tax-related challenges that business owners face, from understanding what qualifies as a business expense to navigating audit triggers. Melissa emphasizes the importance of regular communication with your tax advisor, rather than just relying on them for basic form-filling.
Melissa’s unique perspective as a "financial translator" helps demystify the tax system, making it clear that business success isn’t just about profitability—it’s about financial freedom, fulfillment, and a solid understanding of your numbers.
What You'll Learn in This Episode:
- Melissa’s transition from corporate auditing to helping small businesses with bookkeeping and taxes.
- The critical importance of working with a proactive and knowledgeable tax professional.
- How to identify acceptable business expenses and avoid common audit triggers.
- Why regular communication with your tax advisor is essential to maintaining compliance and optimizing your finances.
- Practical strategies for mastering your business’s finances in as little as 4 hours per month.
Notable Quotes:
- "You cannot just put your head in the sand and hope taxes go away." – Melissa Broughton
- "Before you invest, start with a big picture and make sure you're clear on your vision." – Tina Moser
- "Success is freedom, fulfillment, and financial satisfaction; profitability alone is not success." – Melissa Broughton
- "A lot of tax professionals are order takers—they fill in forms, but they’re not advising clients in a proactive way." – Melissa Broughton
Melissa Broughton/Busy Bee Advisors Resources
Email: info@busybeeadvisors.com
Website: BusyBeeAdvisors.com
Insta: https://www.instagram.com/busybeeadvisors/
LinkedIn: https://www.linkedin.com/in/melissa-broughton-baa3ab77/
Women Choosing Growth Resources:
Email: Tina@WomenChoosingGrowth.com
Insta: https://www.instagram.com/womenchoosinggrowth/
Website: Tina-Sue.Com
LinkedIn: https://www.linkedin.com/in/tina-sue-moser-540379a/
Facebook: https://www.facebook.com/WomenChoosingGrowth/
Youtube: https://www.youtube.com/@WomenChoosingGrowth
