Consultants and Money

Get my Monthly Newsletter here Is THIS the year that you are leaving the corporate cushion and heading out on your own? If so, here's the "speed dating version" of what you need to get set up. Set up an LLC Get an EIN Get a separate business bank account Get business insurance Set up a good bookkeeping system (and maybe hire a good bookkeeper, too!)   If you want a deeper dive into the items above...

Enjoy this casual conversation I had with our 12-year-old daughter about money - and a little bit of life. From our family to yours, we hope you're taking this time during the holiday season to relax and enjoy some time with family and friends!

This episode, we're talking through what type of accountant you need in your business and when to hire them. And to keep it in the spirit of the Holidays, I've borrowed a page from The Christmas Carol to explain how each of "the ghosts of accounting" work, how to decide when you need each one - and why. Talking through: Difference between an accountant and a CPA What type of tax preparer you shoul...

We're talking all-things high-yield business savings account today: What's a high-yield savings account? How much should you put in a high-yield savings account Are they safe? How to find a good one I'll even walk you through how I move money in and out of my high-yield savings account throughout the year.     Connect with Erica: Instagram  LinkedIn Email List  

Are you a "corporate refugee"?  In this informative and engaging conversation with David Shriner-Cahn, he touches upon a wide range of issues that relate to the journey from being an employee to becoming a successful entrepreneur.  Just some of the topics discussed in this episode: What exactly IS a corporate refugee? The reasons some people get pushed out of corporate over time and the unspoken b...

In this episode, Erica talks through what needs to change in your business once you convert to an S-corp for IRS tax purposes. Covered in this episode: When to start considering an S-corp Paying yourself as an employee Reasonable compensation Accountable plans (i.e. employee reimbursement policies) Business tax returns (1120-S)   Related episodes : Ep 25 - How to Pay Yourself From Your Business Ep...

Wishing you a very happy Thanksgiving!   With Much Gratitude, Erica

Book a Strategy Session Today I welcome fellow CPA and Certified Life Coach, Sheila Hansen to the show. Sheila supports creative service providers, providing financial support to business owners such as copywriters, photographers, social media managers, coaches, and speakers. Our conversation covered such topics as: What is a "money mindset," what a healthy one looks like, and how it drives your "...

This week, I talk with Kate Stewart, LCPC who recently went from being a W-2 employee to a private practice and small business owner as a mental health professional. In today's conversation, we cover: employee-to-business owner mindset using a spreadsheet vs QuickBooks how no one ever taught us business tax in high school small business retirement   Related episodes: 43 -  How Do I Roll Over an Ol...

$1 million IT / marketing / cybersecurity / consulting agency owners - this one's for you! Today we're diving right into the $1M agency owner's planning process. (And if you're not there yet, you may want to listen anyway, so that you're prepared for the future!) Considering revenue, human resources, travel plans, taxes, etc, I run through a handful of questions to consider as you plan for a succe...

Sarah Walton, business coach and sales expert, is deeply passionate about empowering women to take control of their finances. In this interview, she delves into the power of exploring and analyzing data to boost your bottom line.   Sarah Walton is a business coach and sales expert who's been featured on The Today Show, speaks at women's conferences all over the world and has helped hundreds of wom...

Book a Strategy Session with Erica In this episode, we dive deep into the often-discussed topic of paying zero taxes. Does it sound too good to be true? It might be. Erica explains 3 legitimate and specific strategies you can use to minimize them as a consultant, coach or small agency owner.   Resource referred to in this episode -  The Win-Win Wealth Strategy: 7 Investments the Government Will Pa...

Book a Strategy Session with Erica One-to-One, Group Coaching, Membership Programs...there are many business models to apply to coaching and consulting businesses. Today, Erica does a deep dive with guest Nikki Rausch, about her unique blended business model and programs. If you're confused about how to set up your own business and what type of platforms to use, take a listen. They talk about how...

PODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter! As Erica continues to talk about developing habits of consistency in your business, she discusses the important concepts of giving back and charitable giving. Take time to think about the questions she poses at the end! If you've missed the other episodes in Business Money 201, find them here: 44 -  Business Money 201: Cashfl...

PODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter!   You started a business, not a hobby, so you know how important it is to pay yourself consistently. In this episode of the Business Money 201 series discover business planning strategies that will help you do just that. This series builds on information that was presented in the Business Money 101 series. If you haven't list...

It's back to school season!  On this bonus Happy Hour episode, Ben and Erica talk through in-state public college tuition costs. Highlights: Top 5 most expensive states for in-state college tuition Top 5 cheapest states for in-state college tuition How much you need to save each month to pay for your kids college years Stacker Article:  "States with the cheapest in-state public colleges" Beer: Haz...

PODCAST REVIEW   GIVEAWAY  - enter before Oct 8, 2023! Click Here to Enter!   Episode 2 of the Business Money 201 series contains information on how to figure out how much you need to set aside for the IRS in your business - and how to get it to them. This series builds on information that was presented in the  Business Money 101 series. If you haven't listened to those episodes yet, they start he...

PODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter!   In this first episode of Business Money 201 , continue to discover information to make the money run smoothly in your business and your life! This series builds on information that was presented in the  Business Money 101 series. If you haven't listened to those episodes yet, find them here: 3 -  Financial Foundations 4 - ...

EricaGoode.com Info on what to do with an investment account you may have had through your old, corporate job, now that you're self-employed and on your own.  I'm talking old 401ks and rollover IRAs today.   Connect with Erica: Instagram  LinkedIn Email List

EricaGoode.com Another Bonus interview with the debit to my credit, fellow CPA Ben Goode. We're talking about the book Die With Zero: Getting All You Can From Your Money and Your Life , by Bill Perkins while enjoying a cold one from the Grand Teton Brewing Company   Some of what we cover: How much money should we save over a lifetime When's a good time to give it away? The concept of time-bucketin...

EricaGoode.com Info on how to use the Child & Dependent Care Tax Credit to save money on your taxes when you send your kid to summer camp.   Referenced Links: IRS Info Page - https://www.irs.gov/credits- deductions/individuals/child- and-dependent-care-credit- information   Connect with Erica: Instagram  LinkedIn Email List

EricaGoode.com   Info on the  new  Energy Efficient Home Improvement Credit worth $1,200 each year for the next 10 years!   Referenced Links:   IRS Info Page -  https://www.irs.gov/credits- deductions/energy-efficient- home-improvement-credit Energy Star -  https://www.energystar.gov/ Form 5695 Residential Energy Credits -  https://www.irs.gov/forms- pubs/about-form-5695   Connect with Erica: Inst...

Thinking about spending time abroad and running your coaching or consulting business outside of the US? In this episode, I'm joined by Laurie Marson, CPA, who breaks down the complexities of working as a self-employed expatriate and how it affects your taxes. Find complete show notes here: https://www.ericagoode.com/podcast/ep39   Connect with Laurie Marson: http://www.marsonaccts.com/ laurie@maso...

This episode talks about: Top episodes since the podcast launch Future plans for the podcast   Episodes Referenced: If you're just starting out: Ep 3 (10/4/22) - Business Money 101: Financial Foundations Ep 4 (10/11/22) - Business Money 101: LLCs & EINs Ep 5 (10/18/22) - Business Money 101: Business Insurance Ep 6 (10/25/22) - Business Money 101: Bank Accounts Ep 7 (11/1/22) - Business Money 101:...

Do you want to feel empowered in your small business financial decisions? Are you tired of feeling unsure about your finances? Today I'm sharing an interview with Fathom, the financial forecasting software that I use.  We discuss a solution - proactive financial planning that leads to decisive and confident choices. Say goodbye to financial stress and hello to financial confidence. When you can av...