All businesses need bookkeeping. It’s part of doing business and it’s part of being a business owner. First you have to decide if you are going to DIY it or hire someone. But most business owners don’t have an accounting background and don’t know much about bookkeeping (and don’t really have the time to do it right). And if they decide to hire it out, they often don’t know what to look for to find a good bookkeeper (it’s an unregulated field and anyone can hang out a shingle). ...
Apr 11, 2024
17 min
Recently, I was talking to someone, and they asked me why profit mattered. I'll admit, was taken aback a bit. I felt like they were asking me why I needed to breath. It seemed so obvious to me. Businesses need profit to survive over the long-term. And business owners need profit if they want financial freedom or just to support their lifestyle. But profit is actually discussed very little in marketing you will see aimed at your business. Most strategists, business...
Apr 4, 2024
13 min
Sometimes what we mistake for fear or avoidance of our business finances, is really money trauma, which is a deeper issue than just being overwhelmed or confused or fearful of your finances. Join me for a conversation with Hailee, a trauma coach, as we talk about and try to normalize money trauma. We talk about how money trauma is different from fear or anxiety, how to recognize the signs of money trauma and how Hailee used Simple Financials to slowly start getting control of her finances. ...
Mar 28, 2024
27 min
Do you have an LLC but are confused about how to file your taxes? This week's podcast episode is just for you. April 15th is less than a month off, which means you need to get those LLC taxes done. Tax laws can be complicated and overwhelming., but whether you are doing your own or hiring a pro, it's important as a business owner to know the basics. Quite simply, informed business owners make better decisions. In this week's episode of Purposeful Profit I break down how to file your ...
Mar 21, 2024
25 min
Freedom is my top value. It's really why I started my business. I wanted more financial AND time freedom. It's also usually a top 3 value of my clients as well. But freedom means different things to everyone. Knowing what freedom means to you is important if you ever want to achieve it. In this week's episode of Purposeful Profit, I'm talking all about freedom, what it means to me and how to get clarity on what it means to you. Mentioned in this episode: Ready to build a busine...
Mar 14, 2024
14 min
In today's episode of Purposeful Profit, I'm helping answer one of the most common questions I get from business owners: "Should I be an S corp or an LLC?" And the answer is, they really are not mutually exclusive. You can be an LLC as a legal form AND still elect S corp status. And doing so, can generate significant tax savings under the right circumstances. Join me for this week's episode of Purposeful Profit where I'm exploring LLC and S corp tax treatment and when a...
Mar 7, 2024
18 min
The best bookkeeping system for your business is the one you'll use. A system, no matter how full featured, that you don't use, isn't any better than no system. So if you don't have a system or you aren't using the system you have and are overwhelmed by the idea of using QBO or adding the cost, you are who Simple Financials was designed to serve. Alex Mitchell is an integrative hypnotist and business coach. She'd been running her business like many coaches or business owners do: without pa...
Feb 29, 2024
27 min
Is your bookkeeping system a shoebox? A file folder? A bookkeeping system provides a way to record and classify transactions and a shoe box or file folder can't do that. But not everyone needs (or wants) a full featured system like QBO. And bookkeeping doesn't have to be complicated. 🎧 Tune into this week's episode where I talk about the simplest bookkeeping system. You'll learn: ▶️ Why you need a bookkeeping system, even at the very beginning ▶️ The 4 requirements of any bo...
Feb 22, 2024
18 min
It's tax season and that often brings a lot of stress, handwringing and anxiety to business owners. But tax prep can be a breeze if you are prepared. Before you go to your tax preparer, there's some easy steps you can take to reduce the questions you get from your tax preparer and makes sure you've maximized your deductions. 🎧 Tune into this week's episode and be prepared for your smoothest tax season ever. You'll learn: ▶️ QBO housekeeping tasks you should do before going to your ...
Feb 15, 2024
27 min
In this week's episode of Purposeful Profit, I'm clearing up the confusion I see among small business owners around the requirements for 1099 reporting. And this confusion is leading to 1099's being issued for incorrect amounts, to people who should not receive one, not being issue to those who should get one. Tune into this week's episode and get the 1099 rules broken down for you in simple terms. You'll learn: ➡️ Who you should be issuing 1099’s to and who you shouldn’t ➡️ How to ...
Feb 8, 2024
20 min
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