Earlier this year, we had the pleasure of interviewing Egypt + Mike and with us thinking about our business taxes, we wanted to circle back to this duo to find out what we need to know!
ATHLEISURE MAG: We had the pleasure of interviewing you earlier this year and now small business taxes are coming up next month! What are some tips and tools that we can use to be organized in order to begin preparing our taxes and to think about for next year?
EGYPT: We’re right there with you! We run seven businesses, so staying organized is key. One of the best decisions we made was hiring a bookkeeper. It’s been a huge stress reliever. We also use TurboTax Business, which has been a game-changer. What I love most is that it provides year-round support, not just during tax season. You can connect with a virtual tax expert at any time, which really helps reduce the last-minute scramble.
A lot of small business owners filed extensions back in March, and now that September 15 is right around the corner, it's crunch time again. That’s why we always say: build your dream team. At a minimum, your team should include a bookkeeper, CPA, and an attorney. Having experts in your corner allows you to move through tax season with confidence. Tools like TurboTax Business help keep everything streamlined and simple.
MIKE: In today’s world, juggling family, kids, and multiple businesses can get overwhelming. That’s why it’s crucial to get ahead of the curve. Schedule time to get your finances in order now, as you don’t want to be the person trying to file for 2024, 2025, and 2026 all at once!
My advice? Plan ahead. Set regular check-ins. And don’t wait until tax season to talk to an expert. With TurboTax Business, you can connect with pros who specialize in small business taxes. They’ll help you uncover every eligible deduction and find ways to maximize your savings in the long run.
AM: How important is financial planning for personal and professional goals?
M: It’s everything. Like they say, “Failing to plan is planning to fail.” I wasn’t taught financial planning growing up, so learning it as an adult has been life-changing. Now, I treat it like gold. And more importantly, I want our kids to learn the value of money, too.
Financial education is essential. You could earn millions, but if you don’t know how to manage it, it disappears just as fast. Planning is about protecting your future and creating a legacy.
E: Absolutely. I always say: “It’s not how much you make, it’s how much you keep.” Money is a tool. And if you use it wisely, it can compound and give you the freedom to do what you love.
For every business we’ve launched, we’ve created a business plan that we revisit annually. Why not treat your personal finances the same way? Set financial goals, review them regularly, and make adjustments when needed. That structure and discipline allow your money to work for you, not the other way around.
M: And here’s a truth a lot of people overlook… planning includes knowing when to ask for help. You don’t need to figure it all out alone. Partnering with a TurboTax Business expert means you’ll avoid costly mistakes like missing deadlines or miscalculating taxes.
E: Speaking of mistakes, I made one years ago when moving funds between investments. The money hit my personal account, triggering a capital gains tax, and I wasn’t prepared. These are things most people don’t know, and without an expert, they don’t know how to fix them either.
That’s why it’s so important to work with a tax pro who understands both your business and personal finances. They’ll help you make smart decisions with the full picture in mind. And with TurboTax Business, you also get 20% off your personal tax prep, which is a nice bonus!
AM: For those that are in the process of buying their first home, what should we have in mind when it comes to going through that process?
E: If you're planning to buy your first home, start months in advance, not when you're ready to tour properties. The first step is to sit down with a lender to assess your financial readiness and buying power.
What you think you can afford monthly doesn’t always align with what a lender will approve. You might feel comfortable with a $500,000 home, but the bank might not see you as a reliable borrower yet. So your financial picture—credit, income, debt—all of it needs to be aligned ahead of time.
Preparation is key. Get financially and mentally ready before you even start house-hunting.
AM: Are there any design aesthetics—whether it's colors to include in our space or elements that we should bring into our homes—as we look forward to Fall/Winter 2025?
M: We’re seeing a strong movement toward bringing the outdoors in. People are adding more greenery, natural textures, and organic elements. Homeowners are also loving outdoor spaces that function like indoor rooms… think sunrooms, all-weather patios, or screened-in porches.
Another big trend? Smart homes. From lighting and blinds to appliances and security, people want homes they can control with a voice command or smartphone. I’d say around 80% of buyers are looking for homes with integrated smart technology, and many new builds include it as a standard now.
E: Yes, and natural light is huge, especially as we enter fall and winter. I personally suffer from Seasonal Affective Disorder (SAD), which is triggered by lack of sunlight. That’s one of the reasons we moved South, though even here I still feel it.
We’ve seen a big increase in requests for larger windows, skylights, and panoramic doors to help bring in more natural light. It's a top priority for many homeowners heading into the darker seasons, and it's something I specialize in designing.
M: We always say we’re living in the Jetsons era. Smart homes, sunlight optimization... the future is here!
AM: What are some projects that you can share that we can keep an eye out for with the two of you?
E: We’re so excited about Season Two of our podcast, Marriage and Money. It’s truly a passion project. It all started because we wanted to carve out space for real adult conversations, especially about relationships, money, and life. This season, we even took it on the road, which has been an amazing experience! Also, we have launched Egypt And Mike TV on Youtube where you can find us designing clients' homes, managing our businesses and family and laughing all along the way. We were also nominated for an Emmy for our show Married To Real Estate, so fingers crossed.
M: We’ve also got new digital projects on the horizon and some big announcements coming soon. Stay connected with us online there’s much more to come!
Read the latest issue of Athleisure Mag.
