Good Debt vs Bad Debt: Essential Tax Strategies Every Entrepreneur Must Know

Ready to master your business finances and avoid costly mistakes? In this episode of Walk In Victory, host NaRon Tillman sits down with financial expert Ronika Khanna to break down the difference between good debt and bad debt, reveal must-know tax strategies, and share the real secrets behind financial management for entrepreneurs.  Whether you’re a solopreneur facing your first tax season or a small business owner looking to level up your financial strategy, this episode gives you the tools and mindset shifts you need. Discover how to leverage debt for growth, avoid the most common financial pitfalls, and build resilience in uncertain times. Ika also covers the impact of COVID-19 on business finances, the importance of paying yourself, and how to maximize tax credits and deductions. 💡 What You'll Learn: How to tell good debt from bad debt—and use it to your advantageTax planning strategies that keep more money in your businessThe biggest financial mistakes entrepreneurs make (and how to avoid them)Navigating solopreneur finances with confidenceCOVID-19’s lasting impact on business financial planningWhy you need a knowledgeable financial partnerTax credits and deductions you might be missingPreparing for financial uncertainty and building resiliencePerfect for solopreneurs, small business owners, and anyone who wants to build a rock-solid financial foundation. Ika’s practical insights will help you take control of your business finances and walk in victory! ⏰ TIMESTAMPS: 00:00 Introduction to Good Debt Fundamentals 00:52 Key Financial Lessons for Entrepreneurs 02:54 Expert Guest Introduction: Meet Ronika Khanna 03:06 COVID-19's Impact on Business Finances 04:54 Navigating Solopreneur Financial Challenges 09:11 Common Financial Mistakes to Avoid 14:35 Tax Planning and Strategic Approaches 20:35 Understanding Good vs. Bad Debt in Detail 25:29 Preparing for Financial Uncertainty 28:19 Conclusion and Final Financial Thoughts 🔗 Connect with Ika: Website:montrealfinancial.caLinkedIn:linkedin.com/in/ronikakhannaYouTube:Montreal Financial Become a supporter of this podcast: https://www.spreaker.com/podcast/walk-in-victory--4078479/support. 🎧 Thanks for listening to Walk In Victory with NaRon Tillman! Don’t forget to subscribe, rate, and share this episode with someone who needs encouragement today. ✨ Sponsored by Cozy Earth – Elevate your rest with luxury bedding. Use code VICTORY1 for 40% off at cozyearth.com. 🔗 Stay connected: 🌍 Website: walkinvictory.me💼 LinkedIn: NaRon Tillman📸 Instagram: @walkinvictorypodcast🙌 Your journey to intentional living, mindful entrepreneurship, and victory starts here.