Empowering Healthy Business: The Podcast for Small Business Owners

In this episode, Cal sits down with tax expert Greg Reed to uncover hidden risks that business owners often miss when it comes to payroll tax withholding. As your income shifts, whether from business profits, life changes, or other sources, your W2 withholding may no longer be enough. Without regular adjustments, this can lead to surprise tax bills, penalties, or even overpayments. Greg explains w...

Think tax season is over? Think again. In this episode, Cal sits down with tax expert Greg to talk about what savvy business owners should be doing after April 15th. From maximizing deductions to planning for upcoming tax law changes, this conversation is packed with insights for those who want to stay ahead—not just compliant. Greg shares real-world strategies to avoid tax-time surprises, reduce...

The US Treasury Department announced a major change to beneficial filing requirements affecting most small business owners in the U.S. In this episode, Greg Reed, head of tax at SmartBooks, shares important updates.  He also shares a tax planning success story about how he saved a client $29,000 in tax. We also discuss important informational filings that still must be made by many U.S. businesses...

I’m excited to announced that SmartBooks Head of Tax Greg Reed is now officially a Certified Tax Coach. Tax planning and minimization has been a core part of our tax practice. With advanced study with the American Institute of Certified Tax Planners, Greg will be able to do even more to help business owners pay less tax. More specifically, this episode includes: Accountants, CPAs, and other roles...

A challenge all businesses face is setting up the sales function for success. In this episode, Christopher Filipiak explores why it is critical for the Founder to master the sales process regardless of whether the plan is to hire salespeople or for the founder to continue to be the primary salesperson. More specifically, this episode includes: The core of the sales process is creating and having c...

Within the past week, the Beneficial Ownership Information (BOI) filing requirement was both reinstated and then suspended again, pending further legal review. Greg Reed provides an update on the current status of the BOI fiing requirement and his filing recommendations. Greg also provides advice on gathering documentation to make your annual income tax filings as efficient as possible and explain...

Would you like to learn how to get more customers at a lower cost of customer acquisition than your current marketing is producing? In this episode Sarah Noel Block presents her approach to lean marketing that can be done in just 4 hours per week. More specifically, this episode includes: 01:48 What is “Lean Marketing” 02:19 Narrowing your focus to attract more, better-qualified leads 05:56 Clearl...

Founders of businesses are unique kinds of people. Some are visionary by nature and struggle to scale businesses despite great personal talent. In this episode Becky Venuti of BV Coaching shares her experience and insight into how these visionary founders can effectively scale their businesses.  More specifically, this episode includes: Different kinds of founders What is a Visionary founder Chang...

A federal court in Texas issued a preliminary injunction suspending the enforcement of the new beneficial ownership reporting requirement. While this ruling provides relief for small business owners, it is TBD whether the reporting requirement will be rescinded or reinstated. In this brief update episode Greg Reed, head of tax at SmartBooks, shares his thoughts and recommendations around this issu...

The incoming administration of President-Elect Donald Trump will bring significant changes to the tax code. Given that he can’t run for re-election for a third term and may thus feel more free to act on his principles than if he had to secure votes for re-election, there is the potential for some very large changes. In this episode Greg Reed, head of tax at SmartBooks, shares his insights into pot...

A challenge for many business owners is how to get the benefit of a good marketing function to fill their sales pipeline, and at a cost point they can afford. One option is to engage a fractional marketing leader. In this episode, Rebecca Schuette shares her insights into when hiring a fractional marketing leader could be the right move for your business and how to set up the engagement for succes...

Many businesses are run by husband and wife teams. While that can be a powerful combination for the business, there are unique dynamics and challenges when spouses or other family members work together. In this episode, Robert and Kay Lee Fukui share their experience and insight into how spouses can most successfully work together as business partners. More specifically, this episode includes: Adv...

Part of running a healthy business is being able to attract new customers. I am old enough to remember life before internet and phones became ubiquitous. These days internet-based marketing dominates in many industries, and the catch-all term for all kinds of online marketing is Digital Marketing. Joining this episode is Kevin Roy, founder and owner of Green Banana , who helps us understand today&...

There is a new federal filing requirement for 2024 that new and existing businesses must comply with, or else face hefty fines. Businesses are required to report the identities of their Beneficial Owners. This filing is typically made by tax CPAs or attorneys and must be kept updated. Greg Reed helps us navigate these new requirements. More specifically, this episode includes: What is Beneficial O...

Having supported the bookkeeping and accounting needs of many marketing agencies over the years, SmartBooks routinely addresses a few key accounting topics to help clients get the most out of their financial reporting. In this episode guest Lindsay Jarosch highlights these issues. More specifically, this episode includes: Benefits of a segmented chart of accounts Accounting for client media purcha...

The healthier we are personally, the more energy we can bring to our businesses to make our businesses as successful as possible. There are several drivers of personal health. In this episode guest Matt Beedle makes a compelling case that investing in great sleep delivers a high return on investment personally and professionally. More specifically, this episode includes: Consequences of Inadequate...

Small businesses have more options than ever to meet senior executive needs by utilizing fractional (aka part-time) managers. The fractional CFO model is the most established, but business owners are also meeting operational, sales and marketing, and other areas of need using fractional approaches. In this episode, Scott Baker shares his insights into how business owners can derive valuable benefi...

Small businesses may have a solution in place for bookkeeping and producing basic financial statements. Owners often yearn for analysis and forward-looking planning. The fractional (part-time) CFO model has existed for 20+ years to fill that void. Today there are more options than ever. Achieving successful results from fractional CFO engagements, however, can be a challenge. In this episode, Dave...

Businesses can become financially distressed and face challenges with solvency and potential bankruptcy. Business owners in this situation may be able to cut costs, tightly manage cashflow, and return to profitability. Sometimes they need to renegotiate debt, attempt to sell business assets, or ultimately dissolve the business. There may also be personal liability concerns for owners and officers....

Running a business is so hard that most go out of business within 5-10 years. There are many risks and factors outside your control. Today’s guest Bill Flynn shares his insights about several areas business owners can control and how you can position your business to overcome those odds to thrive with long-term success. More specifically, this episode includes: Creating a Brain-Friendly Organizati...

Healthy businesses have an established business model in which most new incremental hires produce profit for the business. Payroll expense can be viewed as an investment that yields a profitable ROI. Usually a hiring decision boils down to a question of how much more revenue do you need to sell in order to afford a new hire. This episode helps answer the question of whether you can afford to hire...

Healthy businesses produce healthy income for their owners. Compensation for business owners can take different forms. This episode discusses the primary forms of owner compensation and associated tax considerations. We also review bookkeeping and reporting considerations for how owner compensation is booked and reported on financial statements.  More specifically, this episode includes: The prima...

The healthier we are personally, the more energy we can bring to our businesses to make our businesses as healthy as possible. There are several drivers of personal health. This episode reviews a book called Deep Nutrition, written by Dr. Cate Shanahan, which does a great job of helping us understand the nutrition driver. More specifically, this episode includes: Ancestral knowledge prior to the r...

Profitability is one of the indicators of a healthy business. Although business owners aspire to have healthy profit margins, it can be challenging to achieve them. This episode’s guest Rocky Lalvani serves as Chief Profitability Officer to small and midsize businesses. He presents philosophy and tactics that help small businesses improve their profitability. This episode includes: The Origin and...

Part of running a healthy business is being able to set and manage to achieve operational goals. This episode’s guest Bill Simmons has been in the fractional COO business for almost 20 years, helping clients run their business 90 days at a time toward achieving strategic objectives. This episode includes: Bill's special sauce helping businesses manage their business 90 days at a time The bene...