Keep What You Earn

We have a major tax deadline coming up on Monday, so today I am sharing the most important tax deadlines you should mark your calendar for as a business owner.   What you'll hear in this episode: [1:23] What are the major Federal Tax deadlines? [3:25] I go over the S-Corp election deadline as well. [5:20] What are my recommendation on paying estimated payment is you owe taxes for last year? [7:43]...

The Dope CPA is a firm founded by Summer Thorn after spending years working for the military and studying criminal justice. She decided to use her passions and her skills in accounting and finance to serve the cannabis industry. Today on the show, we are joined by Summer and her colleague Malissa to uncover some unique challenges with the cannabis industry and discuss how important industry specia...

Today, we're diving into a crucial facet of your business that warrants a fresh look, offering you the opportunity to streamline your operations and avoid potential complications down the road.   When it comes to taxes, it's imperative to guarantee that you've got your contractor-related paperwork squared away.   Investing some time now to revisit this aspect of your business and confirm that you...

Small business owners are often intimidated by accounting software and hesitate to use it, even when they're paying the big bucks for it! In today's episode we unpack the best tips for business owners at any stage of their journey on how to utilize QuickBooks in an optimal way to save time and money.   Crystalynn Shelton is a licensed CPA and QuickBooks Top 100 ProAdvisor helping startups, small b...

Positioning your business to be sellable should always be the gal, even if you have no plans to sell. In today's episode we discuss what makes a business appealing to a buyer, and thus more valuable, along with the common mistakes and pitfalls business owners make on their journey to exiting their business. We also cover mergers vs. acquisitions and when you should be considering all of these opti...

Today on the show, we discuss the pros and cons of using a "one-stop shop" for your accounting and tax needs in your business and how to approach shopping for these services.   What you'll hear in this episode: [1:43] What is the difference between a tax professional and an accountant? [3:23] Why it is important to have both a tax profession and an accountant at tax time. [10:17] What are some of...

Part of leading a team as a manager or founder is learning how to coach and deliver feedback. In today's episode, Chris Godman joins Shannon to discuss how to implement coaching skills within your team to develop them and yourself as a leader.   Chris Goodman is a premier life and business coach for high-performers. His clients include founders, CEOs, influencers, across industries. His mission is...

In this episode, we unravel the intricacies of retreat and event expenses when it comes to tax deductions. With the rising popularity of retreats and business conventions, it's crucial to grasp which expenses can be deducted for both hosts and attendees.   Discover the key factors that determine deductible expenses, including what qualifies as "ordinary and necessary." We cover various deductibles...

As with most things in life, marriage is all about communication, understanding and setting the right expectations with your partner. One of the ways to do that is literally on paper with a prenuptial agreement, aka a prenup. Today on the show we will discuss what prenups are designed to do, how to have an effective agreement with your spouse and the unique aspects of how to approach prenups as bu...

Have you ever wondered how to actually fund money into your business bank account? Wondered if you have to pay taxes when you put this money in? In today's short episode, I answer these questions directly and guide you on how this works in your books too.   What you'll hear in this episode: [1:07] How do I put more money into my business? [2:26] Ways to do this so you don't pay extra taxes on the...

Accountability can sometimes be associated with micromanaging r discipline, but when done right can be a powerful tool go grow your team and your profits. Today, I unpack some useful tools I use in my business today as well as some tools from the archives of my corporate career we used on large projects.   What you'll hear in this episode: [1:32] What exactly is team accountability? [2:29] I discu...

Today, I am not giving any legal advice, but I do want to look out for you when it comes to the terms in your contracts that directly impact your money. Today I cover three of the key areas of a contract you want to make sure are iron clad before you sign your next customer or engage someone in your business.   What you'll hear in this episode: [2:02] How to make sure your refund and cancellation...

Operating a product-based business involves unique challenges compared to a service-oriented business. There are often more intricate processes at play, encompassing not only the procurement of products for your business but also their subsequent sale to consumers.   Each of these stages frequently incurs additional expenses, and the financial landscape can become somewhat intricate if not meticul...

Jasmine is the epitome of authenticity, sharing her truth through all stages and seasons of growing her businesses and dealing with the challenges they present. Although successful in her own right, Jasmine has endured countless challenges but remained resilient and, in this episode, teaches how she finds the answers she needs to grow forward.   After getting her start in the entrepreneurial world...

Does your business bore you? At times, maybe you feel like you are back to working a job and dreading the Mondays. I hear even the most successful entrepreneurs express boredom and disdain for their incredibly successful businesses all the time because they are simply bored. Today, I share my perspective on business boredom and how to minimize distractions.   What you'll hear in this episode: [1:5...

Have you heard that you're not charging enough?...Who hasn't?!? We are constantly encouraged, sometimes pressured, into raising our prices in order to grow our revenue. While that may seem to be the obvious driver, it's not always the answer. There is more to it than that and in this episode, I cover the ways to recalibrate your revenue in a more sustainable way.   What you'll hear in this episode...

Change drives growth, but at the cost of comfort. Today, we dive into the ways to foster positive change in our business, company culture and life with change management expert Will Hill. Will works a lot with professional service companies like accounting firms, but the principle of change management and change communication are universally applicable and often overlooked in business.   Will is t...

I hold the belief that every business owner should construct their business with the perspective that it may eventually be sold. This perspective isn't rooted in the assumption that everyone necessarily aspires to sell their business. Rather, I firmly contend that adopting this mindset empowers you to establish enduring processes and systems, capable of enduring the test of time, regardless of you...

I always love chatting with fellow fractional CFOs and today is no exception. I am joined by Staci Millard, a CFO from Canada who is a fellow entrepreneur and has already exited her business. We discuss common trends we see with business owners and how to avoid major missteps in your path to scaling.   Staci Millard is a mom of 2 and multi-passionate entrepreneur. She grew and sold her first seven...

It may be hard to believe, but your accountant is human too. They may make mistakes or miscommunicate with you and it can lead to a significant financial impact. Today, I share the ways to make sure your accountant is living up to their promises and how to communicate effectively with them to ensure success for everyone.   What you'll hear in this episode: [0:35] If you are feeling uncomfortable w...

Ahh, the timeless dilemma: the choice between hiring employees or contractors for your business. In this engaging podcast episode, our expert delves deep into the factors that influence this decision. With a wealth of practical insights, you'll gain a clear understanding of the tax implications, levels of control, cultural considerations, and growth strategies associated with both options.     Wha...

Get Ready to unlock the power of real estate investing and save big on taxes. The game-changer known as Cost Segregation is like equipping your commercial property investments with a turbocharged engine, propelling your deductions to new heights.   Don't let your hard-earned dollars gather dust in the IRS vault. Instead, seize the power of Cost Segregation and reduce your tax liability. It's time...

Explore a vital question often overlooked: Assets vs. Expenses. Discover tax-saving strategies by distinguishing between them. Learn how categorizing expenses as assets can ease tax burdens.   What you'll hear in this episode: [1:25] Defining Business Expenses [1:56] Understanding Business Assets [3:00] Tax-Friendly Expense Spreading [4:50] Safe Harbor Threshold Explanation [6:15] Maximizing Tax D...

Have we even begun to grasp the potential of AI technology? I don't think so, but I also don't think we even know where to start. That's why I called Jim! After this conversation, I left feeling so energized by all of the ideas on how to use this technology in our practice and I know you'll feel the same. Grab a notebook and your Asana board and let's go.   Jim Carter III, a seasoned founder, Fort...

The subject of money conjures up a lot of emotions, including shame, insecurity, guilt, and stress. The good news is that it doesn't have to be that way. Join me for this episode with my pal and fellow fractional CFO, Bridgette Boucha to discuss the money habits and rituals that will help you step into a mindset of abundance in your business and eliminate fear.   Bridgette Boucha (boo-shay) is a s...