We’re thrilled to announce that Bryce Egbert, owner of BCE Accounting & Tax, recently joined forces with world-renowned CPA and attorney Mark J. Kohler on his popular podcast. Together, they dove deep into actionable tax-saving strategies designed to help business owners like you make the most of your finances before filing 2025 taxes. Whether you’re a seasoned entrepreneur or just starting out, Bryce and Mark’s discussion is packed with insights that can make a real difference for your business this tax season.

Why You Should Host a Year-End Board Meeting

One of the key strategies discussed was the concept of a “family board meeting” — a powerful approach that enables business owners to combine family time with meaningful business discussions, all while taking advantage of tax deductions. If you hold an official board meeting, even with family members, you may be able to write off travel, dining, lodging, and more. Bryce emphasizes that not only does this strategy strengthen business operations, but it also fosters financial literacy within families by involving the next generation in the business.

Bryce encourages clients to document board meeting minutes, list attendees, and include topics that address the business’s goals, challenges, and achievements. With the right preparation, these gatherings qualify for a range of write-offs, reducing taxable income while building stronger, financially aware families.

Leveraging Tax Deductions on Family Gatherings

Bryce and Mark detailed the types of expenses that can potentially be written off when properly associated with business purposes. As Mark advises, documenting board meetings in your corporate book is a crucial step for asset protection and tax compliance. When executed correctly, you can potentially deduct expenses like:

• Airfare and Lodging for attending a board meeting
• Dining Costs for business-related meals (typically at a 50% deduction rate)
• Transportation and Ride-Share Services to meeting venues

Mark points out the importance of having a structured agenda and meaningful discussions to justify these deductions. “Taking your business seriously demonstrates respect for your American dream,” he notes, emphasizing that tax planning should support both your personal and professional goals.

Don’t Forget: The Kid’s Role in Tax Savings

Including your children in the business can open up even more tax-saving avenues. Bryce and Mark discussed ways to pay family members under age 18 without W-2 forms or FICA withholding, so long as the payments align with fair market value for duties performed. This approach enables you to put money toward a child’s education or savings fund — all tax-free up to the standard deduction limit.

Both experts suggest that setting realistic responsibilities for younger family members, such as helping with social media or office organization, not only lightens your workload but instills early work habits and financial awareness.

Plan Now: Schedule a Year-End Tax Strategy Session

The experts wrapped up by encouraging business owners to proactively schedule a tax planning session with their CPA well before year-end. As Bryce advises, “December 31 is too late.” By taking action now, you can implement tax strategies that make a difference in your 2025 return, ensuring that every tax-saving opportunity is maximized.

Secure Your Financial Future

With insights like these, Bryce Egbert and BCE Tax & Accounting are here to help you navigate complex tax scenarios and keep more of your hard-earned income. If you haven’t yet met with a tax advisor, now is the time to explore how these strategies can make a tangible difference for your business. Check out the full podcast episode for in-depth tips and guidance to make your year-end tax planning efficient and profitable.