# Finding the Money You Already Earned

Page: https://stenobird.com/podcast/wealth-building-made-simple-936340/finding-the-money-you-already-earned
Text version: https://stenobird.com/podcast/wealth-building-made-simple-936340/finding-the-money-you-already-earned.md
Podcast: [Wealth-Building Made Simple](https://stenobird.com/podcast/wealth-building-made-simple-936340)
Published: 2026-02-20T12:30:00+00:00
Episode link: https://askphillip.phillipwashingtonjr.com/e/finding-the-money-you-already-earned/
Audio file: https://mcdn.podbean.com/mf/web/szkpthkjpzmcx7dm/2_Alison_-_Hidden_Money_Phase9k2rh.mp3
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JSON: https://stenobird.com/v1/public/podcasts/wealth-building-made-simple-936340/episodes/finding-the-money-you-already-earned
Duration seconds: 855

## Resource

Key Takeaways: Don’t Miss Common Deductions: Many business owners overlook deductions like mileage and home office expenses. Tracking these can lead to meaningful tax savings. Intent Matters for Expenses: For things like meals, travel, and entertainment, the reason behind the expense is important. Understanding intent helps ensure expenses are reported correctly. Bonus Depreciation Is Back: Recent tax changes allow businesses to fully write off certain purchases right away. This can be a big advantage when buying qualifying equipment or assets. Review Transactions Regularly: Looking through bank statements and transactions can reveal forgotten subscriptions or miscategorized expenses, which improves accuracy and savings. Get Expert Tax Help: Tax rules are complicated and always changing. A knowledgeable CPA can help businesses take full advantage of deductions and credits while staying compliant. Chapters: Timestamp Summary 1:56 Commonly Overlooked Business Deductions for Entrepreneurs 4:10 Understanding Tax Deductions for Meals, Travel, and Entertainment 7:07 Documenting Business Expenses and Intent for Tax Deductions 8:42 Gift Cards as Taxable Income for Employees 9:22 Tax Strategies and Tips for Small Business Owners Powered by ReiffMartin CPA and Stone Hill Wealth Management Social Media Handles Follow Phillip Washington, Jr. on Instagram (@askphillip) Subscribe to Wealth Building Made Simple newsletter https://www.wealthbuildingmadesimple.us/ Ready to turn your investing dreams into reality? Our "Wealth Building Made Simple" premium newsletter is your secret weapon. We break down investing in a way that's easy to understand, even if you're just starting out. Learn the tricks the wealthy use, discover exciting opportunities, and start building the future YOU want.…

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## Transcript

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