That Money Lady Podcast

In this episode, Audrey Heesch explores the critical role of auditors in the financial sector and the pervasive audit mindset that shapes our financial systems. She addresses the fears and misconceptions surrounding audits and financial scrutiny, emphasizing their necessity for transparency and accuracy. Audrey also discusses the creation and implications of credit scores, the importance of financ...

-Introduction to Return on Investment (ROI) for small businesses -Basic equation for calculating ROI -Importance of evaluating both monetary and non-monetary returns -Personal anecdotes from Audrey's finance degree -Assigning value to learning experiences and connections -How deep connections contribute to business success -Encouragement for entrepreneurs to make informed financial decisions Key T...

Introduction [00:00] Welcome by Audrey Heesch, expressing frustration over recent news on foreign election interference. [01:30] Comparison to past political traumas and the sense of devastation it brings. Main Discussion [03:45] Analysis of how foreign interference and money in politics undermine democracy. [06:15] The critical role of ethical business practices and the impact entrepreneurs can h...

-Introduction to the topic of professionalism and appearance in business -Discussion of Sarah Nicole Nadler's experience with appearance-based criticism (check her out here! -> https://www.facebook.com/sarahnnadler ) -Check out her badass take on the situation here!: https://www.tiktok.com/t/ZTN8kCpko/ -Reflection on the changing standards of professionalism for women in the workplace -The impo...

-Introduction to the episode's topic: Pushing buttons in accounting software (0:00 - 1:12) -Overcoming the fear of making mistakes in accounting software (1:13 - 2:48) -Addressing the fear of irreversible errors -Reassurance that mistakes can be fixed, but prevention is better -Acknowledging the learning curve and the lack of financial education -The importance of hands-on experience with accounti...

1. Introduction Welcome by Audrey Heesch. Overview of the episode's focus: debt in small business ownership. 2. The Nature of Business Debt Discussion on the inevitability of debt in business. Debt as a tool for growth and the importance of strategic management. 3. Types of Business Debt Loans for machinery and vehicles. Credit card usage and management. Lines of credit, including home equity line...

- Embracing the business owner mindset: Overcoming the fear of not knowing everything and feeling like an imposter. -Granting yourself grace: Recognizing that entrepreneurship is a learning process, and mistakes are inevitable. -Navigating bureaucracy: Dealing with government agencies, understanding their processes, and advocating for change. -Taking accountability: Acknowledging mistakes, communi...

-Introduction to the importance of separating personal and business finances as an entrepreneur. -Acknowledgment of the common struggle faced by successful entrepreneurs in maintaining separation. -Risks of commingling personal and business funds, including complications during audits. -Societal emphasis on being an employee rather than an entrepreneur, leading to a lack of financial literacy. -En...

Introduction and overview of the episode's topic: Understanding your numbers vs. just complying. Acknowledgment of the cash flow and debt management struggles faced by small businesses. The importance of truly understanding your numbers and applying them correctly, rather than just going through the motions. The challenges of entrepreneurship, including unexpected setbacks and the inability to con...

Introduction to the episode's topic: Boundaries in Business -The importance of understanding why boundaries are being pushed -Categorizing motivations: entitlement, greed, or survival -Examples of boundary-pushing behavior in politics and small businesses -Addressing boundary-pushing behavior -Reevaluating and restating intentions instead of changing rules -Handling one-off situations vs. addressi...

-Introduction and background on the new 1099 Non-Employee Compensation form. -The importance of asking questions and seeking clarification when financial terminology is confusing or unclear. -Embracing the creativity and flexibility of financial terminology while ensuring accuracy and compliance. -The power of knowing your financial numbers and using them to make informed business decisions. -Exam...

-The importance of "coming to the table" in managing business finances and bookkeeping. -Being present, engaged, and willing to learn, even if it means taking a break. -Empowering yourself and embracing your strengths. -Seeking professional help when needed. -Having grace with yourself throughout the entrepreneurial journey. -Celebrating progress, no matter how small.

Introduction and the importance of discipline over skills (0:00 - 2:45) -Challenges with maintaining consistency -Discipline as a more effective approach The overwhelming demands of being an entrepreneur (2:45 - 4:20) Social media, marketing, content creation, back-end work -Importance of belief in oneself and holding the vision Discipline vs. Consistency (4:20 - 5:45) -Discipline is getting back...

-Audrey started a nonprofit during the pandemic to provide care packages to frontline workers. She struggled with fundraising and admits she failed at running the nonprofit. -Audrey got her 501(c)(3) status on her own and tried doing the taxes herself at first. The IRS sent back her filing, so she handed it over to her CPA. -As Audrey was recently gathering documents for personal and business taxe...

Many of us were never taught how to manage business finances. This leads to feeling overwhelmed and avoiding money talk. Know you're not alone! Struggles are common at every business level. The shame and stories you tell yourself about money only hold you back. How can you rewrite that narrative to one of empowerment? The numbers themselves have no emotion - they simply communicate facts. When you...

-Have systems in place to manage your business finances even when personal life gets chaotic -Find a record-keeping method that works for YOU - Excel, QuickBooks, paper, etc. -Know your end goal, then work backwards to figure out what to track -QuickBooks has tracking features to provide business insights from your data -Consider getting a bookkeeper or office manager for help -Take small steps to...

In the opening, the host shares that finances and bookkeeping often get pushed down the priority list by entrepreneurs. But it's important to make time for them. She observes that many only showcase financial successes on social media. Important struggles in between are left out. The host notes that bookkeeping seems easy but takes substantial time and energy. It's hard without detailed records. G...

-How Audrey manages her inbox flood of demands around the new year -Her thoughts on pressure as an uncomfortable but fruitful force -The importance of intent in directing pressure toward your aims -Why you shouldn't just scrap efforts if they don't go as planned -Ways to stay focused on your vision amidst a sea of opinions -Audrey's advice on avoiding burnout from unhealthy pressures -Her reminder...

Summary: Audrey shares an experience from last week where someone had an issue with her standard contract regarding editing rights and ownership of recordings. This led Audrey to a realization about why people likely also struggle with the IRS's transparency and clarity around taxes and responsibilities. She reflects that transparency and clear communication of responsibilities, while empowering,...

Summary: In this podcast episode, the host Audrey discusses the balance between profit and purpose for small business owners. She argues that small businesses should not be held to the same standards as large corporations when it comes to choosing profits over people. Audrey encourages small business owners to make decisions aligned with their purpose and mission, without diminishing others. She a...

Podcast Summary: In this episode, we dig into 1099s - specifically 1099-Ks that business owners receive from payment processors - to bring clarity to this often confusing tax form. Outlining the recent changes requiring payment processors to send 1099-Ks for over $600 in gross sales, which has now been pushed back to 2024 with a temporary $5,000 threshold. Several states do still enforce a $600 th...

In this raw and relatable episode, Audrey opens up about the emotional rollercoaster of entrepreneurship. She discusses feeling immense pressure to succeed coupled with self-doubt in her abilities. Despite support from her community, she struggles with determining the right next steps on her journey. Audrey emphasizes that the path is often winding and solitary - she seeks to normalize the experie...

What you need to know as a small business owner regarding the Corporate Transparency Act that's set to go live on January 1, 2024. Unless you're in 23 specific industries, this will and does impact you and it's important to be informed on the subject so you can take the best next steps for you and your business. This impacts all entities so if you’re a sole proprietorship, this shouldn’t apply to...

There is so much fear and anxiety around the IRS and an audit for all tax payers, yet I've noticed that it's amplified with small business owners. The more I'm talking about it with entrepreneurs, it's clear that most of that revolves around the unknown of what an audit even could be. We've all heard the horror stories but that's not helpful! So I'm here to spill the tea and talk about what my cli...

Let's spill the tea and really talk about what the root cause of millions of American's struggle with tax time. Spoiler alert - it's goes beyond the IRS. SUPPORT THE SHOW: Please subscribe, rate and review over on Apple Podcasts and Spotify to help support That Money Lady! PODCAST DISCLAIMER: This podcase is for educational purposes only. It is here to guide you on your pathway to ethical business...