16 \\ Why Reconciling Your Accounts Could Save You from IRS Trouble (and Lost Money)
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Wed 04 Jan 2023
- Episode Link
- https://smallbusinessfinance.podbean.com/e/16-are-you-making-this-huge-mistake-in-your-business-finances/
Most small business owners skip reconciling their accounts—until it costs them big. In this episode, Tiffany breaks down what reconciliation really means, why it’s non-negotiable, and how missed transactions can either cause you to overpay the IRS or look like you’re underreporting income. You’ll learn how to reconcile whether you use QuickBooks or a simple spreadsheet, why monthly check-ins matter, and the exact steps to catch missing deposits and expenses. Before you file your taxes, this is the episode you need to hear to avoid paying more than you should—or attracting IRS attention.
Next Steps:
💰Pay Less in Taxes – Start Here! 💰
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