🥈 Stop Trusting Your CPA (For This) | Penny Rose Reveals Why You're Still Overpaying in Taxes—Even With a CPA

Disclaimer: Today’s episode is sponsored by Nurp. Content is for educational purposes only. Not advice. Results discussed have not been vetted. Claims made by the guest have not been verified. The views expressed by the guest do not reflect those of the host or this show.—📌 Sponsored by Nurp:⁠⁠⁠start.nurp.com/doctors⁠⁠⁠ (do your due diligence)To book a PREMIUM spot on the Podcast: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.drchrisloomdphd.com/_paylink/AZpgR_7f⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Book a 1-on-1 coaching call: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.drchrisloomdphd.com/booking-calendar/introductory-session⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Subscribe to our email list: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://financial-freedom-podcast-with-dr-loo.kit.com/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠To connect with Penny Rose: https://www.linkedin.com/in/pennycrispellrose/—💰 Tax Strategist Penny Rose explains why so many successful entrepreneurs, physicians, consultants, coaches, creators, and business owners legally pay far more in taxes than necessary—and how year-round tax planning can dramatically increase the amount of wealth you keep.Most entrepreneurs assume hiring a CPA means their taxes are fully optimized. In reality, there's a major difference between filing a tax return and implementing proactive tax strategy. Former FBI forensic accountant and CPA Penny Rose shares how high-income entrepreneurs, content creators, influencers, and 1099 business owners can reduce taxes legally, avoid costly mistakes, and create a financial system that supports long-term financial freedom.Whether you're wondering when to form an S Corporation, whether an LLC makes sense, how to reduce self-employment tax, maximize a Solo 401(k), avoid an unexpected IRS tax bill, or understand what actually attracts IRS attention, this episode provides practical strategies you can begin implementing before year-end—not after it's too late.If you've ever searched for:✅ How to legally reduce taxes✅ Best tax strategy for entrepreneurs✅ CPA vs Tax Strategist✅ S Corporation tax savings✅ Solo 401(k) strategies✅ Tax planning for business owners✅ How to avoid overpaying taxesThis conversation with Penny Rose will help you better understand the questions to ask, the strategies to consider, and the framework for building wealth by keeping more of what you earn.💰 In this episode you'll learn:✔️ Why most successful entrepreneurs still overpay taxes✔️ The difference between a CPA and a Tax Strategist✔️ When an S Corporation can significantly reduce taxes✔️ Common tax leaks costing entrepreneurs thousands each year✔️ How Solo 401(k) contributions reduce taxable income✔️ Strategies for reducing self-employment tax✔️ Why quarterly estimated tax payments matter✔️ IRS audit triggers business owners should avoid✔️ Tax considerations for digital nomads and remote entrepreneurs✔️ Why tax planning should happen throughout the year—not just in April⏱️ Timestamps00:00 Disclaimer00:00:18 Why High-Income Entrepreneurs Still Overpay Taxes02:10 Meet Penny Rose03:15 Why Content Creators Need Different Tax Strategies05:00 Hidden Tax Leaks Costing Entrepreneurs Thousands06:45 When Should You Become an S Corporation?08:00 CPA vs Tax Strategist10:20 Is a Tax Strategist Worth the Cost?11:10 Solo 401(k) Explained11:50 Sponsor Break12:40 AI, IRS Enforcement & The Future of Taxes14:10 The Best Order of Tax Strategies15:40 IRS Audit Red Flags17:40 How to Avoid a Surprise Tax Bill19:10 Tax Tips for Digital Nomads21:30 One-on-One Tax Consulting22:10 Connect with Penny Rose23:00 Final ThoughtsFinancial Freedom for Physicians, Copyright 2026