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In this episode of Pivot to Profit, Pam Jordan and tax strategist Alexis Sydney break down the most common-and costly-tax and profit mistakes business owners make, and how to avoid them. Discover why tracking your mileage, claiming your home office, paying your kids, and deducting startup costs are often missed opportunities for tax savings. Pam and Alexis share real-life stories, including a smoothie shop owner losing out on deductions and exposing himself to legal risk, and a seven-figure business with six figures in personal expenses miscategorized as business deductions.
Learn why separating your business and personal finances, choosing the right entity structure, and having real-time bookkeeping are non-negotiable for protecting your assets and maximizing profit. The duo explains the dangers of “piercing the corporate veil,” the pitfalls of DIY bookkeeping, and why outsourcing your books can actually save you money. Plus, they highlight the importance of proactive tax strategy and depreciation, and offer actionable steps for entrepreneurs at every stage.
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💡 Meet the Experts:
Pam Jordan is the CEO of Pivot Business Group, helping entrepreneurs understand their numbers, increase profits, reduce taxes, and build wealth through strategic financial planning.
Alexis Sydney is a Certified Tax Strategist and Managing Partner of Pivot Tax Strategy, helping business owners save millions annually through actionable strategies.
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Recommended Videos:
If you liked this episode, you'll love these videos:
– How to Put Your Kids on Payroll and Save Thousands in Taxes: https://www.youtube.com/watch?v=Y1mvyHCnFWY
– How To Hire Your Kids To Immediately Reduce Your Taxes! (Step by Step): https://www.youtube.com/watch?v=6nKN_AD21kQ
– $15000 IRS Loophole for Parents (Legal But Nobody Does It): https://www.youtube.com/watch?v=iardyOuyxxo
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