Send us Fan MailYou are making good money. So why does tax season still knock the wind out of you every year?Earning more does not automatically mean keeping more. Without a strategy, a higher income can just mean a bigger, more painful tax bill.In this episode, we have Emily Bowie, CFO of Thorne Advisors, a firm built specifically for women earning over 100K in net income. A Cash Flow Strategist with more than 15 years of experience, including her time as an audit manager in Big Four accounting, Emily co-built Thorne Advisors with founder Andrea Mason to close a gap they kept seeing: plenty of tax strategy floating around, but almost no one helping women find the actual cash to use it. She joins us to make taxes make sense, from the S corp election that saved one client a fortune to the cash leaks quietly draining businesses everywhere.Why do high-earning women still get ambushed every April? Because the books get pushed to the 11th hour. When you are juggling everything, bookkeeping only happens right before taxes are due, and by then it is too late to be strategic. You are just working with whatever you have instead of a plan.What is the difference between tax prep and tax strategy? Tax prep is the filing everyone knows, due in March or April. Tax strategy is proactive and year-round: a strategist understands the code so they can help you leverage what is actually available to you. As Emily puts it, not all tax preparers are tax strategists, so it pays to know who is really in your financial corner.When should you switch from sole prop to an S corp? Emily's benchmark is netting 100K or more. That election alone can save you money, and it unlocks strategies like an accountable plan and the Augusta Rule. The goal is not to pay yourself less, it is to pay yourself strategically. One client who waited too long overpaid roughly $70,000.Why is a big tax refund not the win it feels like? A large refund means you overpaid all year and handed the government an interest-free loan. The sweet spot is landing close to even, so that cash stays in your business or your pocket where it can grow. Emily even packaged her top fixes into a free guide, 5 Cash Leaks & 5 Missed Tax Deductions.00:00 Building a firm for high-earning women.03:15 Why April keeps ambushing you.04:45 The $70,000 S corp mistake.08:15 Tax prep vs tax strategy.13:15 Why a big refund is not a win.17:15 The S corp unlock and the cash leaks.29:30 What financial freedom really means.We would love to hear what you thought of this episode, any questions it sparked, what resonated most, or any topics you would love us to cover next. Click here to send us a message!Ready to stop overpaying and start keeping more of what you earn? Join us for the next Money Talks, “Three Numbers Every Self-Employed Woman Should Know by Heart” with Laura Ann Strobel. Click here to register for FREE and bring your questions!Follow & connect with Emily Bowie:WebsiteInstagram5 Cash Leaks & 5 Missed Tax Deductions (free guide)Want to take this conversation one step further? Join us for our next Money Talks, a free 30 minute live session where we’ll dig into a question we hear all the time from women business owners: Budgeting for Businesses to Offer Benefits. Click here to register for FREE and bring your questions! Follow & connect with us!Website Facebook PageFacebook groupInstagramTikTokLinkedInYouTubeReddit ResourcesHave questions? Click this to check out our expert Q&A for tips from industry experts, tailored to help women address their most comm...

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