Keep What You Earn

There are few tell-tale signs that it's time to hire (besides burnout). We can't wait to hire until we're so burnt out that we can't continue on. So how can you know when you can afford to hire? The key lies in your cash flow. You need to be aware of your cash flow forecast and how hiring will affect it. Consider the cost, but also how much time and money you can make with your freed-up time. Foll...

In times of economic uncertainty, it's easy to listen to the negative voices and negative self-talk in our heads when it comes to money. This is especially true for business owners and entrepreneurs because we're already subject to more risk than a typical salaried employee when it comes to how and when we'll earn our next dollar. That's why I am excited to have Belinda Rosenblum on the show.   Be...

When it comes to business finances, many people broadcast their revenue numbers but don't really talk about their profit. Believe it or not, a lot of the businesses and influencers you follow may not be profitable. They can say they're a multi-seven-figure business owner or an eight-figure CEO, but what you take home is what really matters. That's why we named this podcast "Keep What You Earn." I...

As I was building my business, I consistently listened to podcasts. One of my staple podcasts was the Small Business Tax Savings Podcast, hosted by Mike Jesowshek. I am looking forward to today's episode because Mike is today's guest. We are actually doing a cross-over episode between our two shows. I took a lot of inspiration from his podcast as I was building my business so this is a really cool...

We often use cash as a financial thermostat that dictates how we feel about our business, but I don't want that to be the case for you as a business owner. I want you to think about cash objectively and as a metric to measure, not as a trigger for emotion. To help with that, I am going to unpack how much cash you should have in the bank at any given time.   * Find everything you need at www.keepwh...

Seeing more in-person events pop up recently has rekindled my energy to get back into speaking and doing live training. This has me thinking about all the entrepreneurs diving back into in-person events, writing their first book, or promoting their work by speaking on stage. I'm dedicating this episode to entrepreneurs who are looking to understand the tax deductions that may be available to them...

As an entrepreneur, it is exciting to meet someone with a similar mindset as me in business. This is especially true in the tax and accounting industry, where it is so easy to fall into old habits and continue doing things the way they've always been done. So it was refreshing to meet Kristen Engeron. Kristen is the President of Legacy Consultants, LLC, which provides outsourced CFO and controller...

As a CFO, one of my goals is to bring out the qualities in my clients that help them shine as CEOs. I've recently spent some time unpacking what it takes to be a CEO and what it takes to step into a CEO mindset. I ended up with a short list of things that I believe drive a CEO's approach to problems and help you show up as a CEO. I'm going to share that list with you, along with relatable examples...

Investing in cash flow assets is always a theme on this show, and one of the best ways to do that is to invest in real estate. There are many different ways to invest in real estate. Regardless of how you invest, taxes can feel complicated. That's why I invited Sheena Braulick to the show to help you sort through this and understand the options.   Sheena is a CPA with 13 years of experience. She i...

It feels like "recurring revenue" is a buzzword these days, right? Many accounts and CFOs will tell you that you need to increase recurring revenue. To me, recurring revenue is a source of stability that offers peace of mind in knowing that money will come in regardless of whether I am at my desk or not. I want that same peace for you, so I am sharing a few concepts that I instill in my clients an...

Because the final tax deadline for 2021 is approaching, I am sending out a refresher episode to review the tax deadlines and what an extension really means. Spoiler alert: an extension is NOT the same as a snooze button.   * Find everything you need at www.keepwhatyouearn.com ! https://www.keepwhatyouearn.com/ * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa *...

When it comes to entrepreneurship, there's more to it than just finances. There are multiple dimensions to your business and there are multiple reasons to stay open and serve your clients and your team. One of the key ways to do this is to improve your skill set, leadership skills, and how you show up for other people. Using the enneagram personality test is a great way to help you achieve this. I...

Jason and I are on a road trip and want to share another one of our conversations with you. We're talking about how our experiences in business school related to running a business and managing a team, things we did and did not learn, and how we disagree with a lot of what we learned.   * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat About This Episode...

One of my favorite parts of being an entrepreneur and running a small business is being able to choose who I surround myself with. It is refreshing to be surrounded by like-minded entrepreneurs, including those in the accounting industry, especially the group of women who are joining me on this episode. I brought these women together to discuss a few hot topics and key phrases. You'll get the pers...

While scrolling through Instagram, I noticed a lot of coaches using terminology that is not correct and could actually be damaging their business. In this episode, Jason and I discuss the issues that using incorrect terminology could cause for you and your business.   * Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa * Chat About This Episode in the Keep What Y...

Throughout this series, we have been layering processes on top of one another to bulletproof your business. We began with setting your business up for success, then added tracking your income and expenses. We rolled all of that together with good bookkeeping. We're going to wrap up this five-part series by unpacking how to present your taxes and how to utilize strategies that will help bulletproof...

I know it's not fun, sounds boring, and seems old fashion, but bookkeeping is probably the most important part of bulletproofing your business. Bookkeeping is how you tie together all the things we've discussed so far in this series. Bookkeeping is the cornerstone of good tax planning and financial management, so the sooner you set it up, the better off you'll feel. Let's unpack exactly what bookk...

One of the best ways to bulletproof your business from an audit is by being mindful of what the IRS looks for. In the last episode, we talked about the first thing they look for, which is underreported income. The second thing they look for is egregious expenses. This episode unpacks how you can ensure your legitimate, ordinary, and necessary expenses look appealing to an auditor.   *Get 10% off B...

In the first episode of this series, we talked about how to reframe your identity as a business owner to adopt habits that your six-figure business owner self would do. This transitions into the second topic, reframing your income. We're going to talk about tracing your income, how you earn your income, and how it relates to IRS audits.   *Get 10% off Business Financial Quickstarter with code KEEP...

There has been a lot of fear lately about the IRS, audits, and enforcement. Most of this fear can be attributed to fear-mongering, but the truth is that the IRS is catching up. They are updating their technology to bring it into this century and will start properly auditing again in the way they have historically and at a quicker pace. The good news is that it's possible to lower the likelihood of...

It is equally the best and worst feeling in the world when you have an opportunity to make a massive investment in your business. You have butterflies of excitement in your stomach but you're also being dragged back down to earth by the price tag. I want you to be careful that you're not operating solely on emotions to make these decisions. I have a method to share that will help you strategize to...

Obviously, I'm biased, but I believe podcasting is one of the best ways to get your message heard by more people out in the universe, especially if you're a business owner. In previous episodes, we heard from Kacia Ghetmiri about growing and scaling your podcast, building an audience, and how to get the most out of your podcast. I want to add another lens to this and talk about who podcasting is g...

If you're chasing the ability to work with everyone, you're not going to be able to effectively work with anyone at all. Your life will be too busy and you'll be spread too thin. You have to be super specific about who you want to work with so that you can have the level of focus needed to grow a business. In this episode, I am focusing on helping you understand your ideal client and how to get th...

When people first start a business, all they worry about is ensuring it stays alive, grows, and is sustainable. They seldom think about what will happen when they no longer want to run the business or when they're no longer able to run it. They don't usually start with the end in mind, but it's important to develop an exit plan before it is needed because there are endless outcomes and options on...

You may be surprised to find out that many of our calls as CFOs for our clients consist of a lot of coaching around non-financial issues. We check in with our clients regularly and we hear about whatever it is that they are struggling with at the time. Recently, a client was struggling with balancing time and effort. They wanted to serve their clients, answer all the DMs, and do all the things, bu...