Pay Play Profit

Being a mom and an entrepreneur at the same time sure comes with a lot of struggles, and at times, self-doubt. But when you're putting in the hard work of investing in yourself and building your business with faith, everything is possible! In today's episode, writer and entrepreneur mom Elizabeth Oschwald joins us as we discuss her journey through motherhood and entrepreneurship.  Elizabeth's life...

June 15 is just around the corner, which means there's another quarterly estimated tax payment due. Just a quick recap, the estimated tax payments are due in January, April, June, and September. (With January 15 as the fourth estimated tax payment since it's for the Q4 of the prior year's estimated tax) Quarterly estimated tax payments refer to money owed to the IRS to help make payments against t...

In this episode, we talk about some things you need to consider when paying for your COVID-19 Economic Injury Disaster Loan (EIDL). Funded by the Small Business Administration (SBA), the EIDL was one of the ways to help small businesses take care of their cash flow needs related to their business operations. If you're just sitting there on your SBA money, and you didn't use it, now is absolutely t...

If you're battling with some decisions and indecision related to cryptocurrency, we want to share what we know (so far) about the world of cryptocurrency. We admit it's something very new to us but we have clients who are already in the space and are about to be in this space. And so, we want to meet them where they're at, slowly but surely.  In January 2022, we sent someone in our team to a crypt...

Whether you're selling products or services, digital courses, or memberships, having a clear picture of what your client experience looks like will help you create the kind of relationship you want to build with your clients. While there is no perfect client, no perfect team, no perfect accountant, and no perfect business, relationships are still the key to keeping it all together when some things...

Whether you're starting, scaling, or sustaining a business one of the cornerstones of success is creating a great overall experience – for your customers, your team, and your partners as well. But one of the things often overlooked by companies when scaling a business is the new hire experience. Why should you care about this?   In this episode, we talk about the THREE mindset shifts you need to m...

Oftentimes, as business owners and entrepreneurs, we look forward to summers as a time for play and vacation. But if you can get your ducks in a row early, then you have the time to take a summer vacation and really enjoy it without worrying or wondering about whether you're hitting your goals.  If you prepare and put those in motion now, then you'll be able to breathe easier in the summer. And if...

Profit is measured in time, energy, and money – but how do you achieve a triple win on all three? Here at The Bottom Line, we have made a profit decision to shift from the usual 40 hours to 32 hours per week. We're working towards making it our full-time standard, even during tax season.  In other words, we want to get more done in less time. Part of our vision is to create an environment where pe...

If you are a small business owner with children, putting your kids to work in the business is a great way to start helping them navigate some financial decisions. You've got to teach them to put money on the strong side of the table and one of the ways to do that is by getting them to invest in a Roth IRA. A lot of people struggle with financial literacy and it's important to start teaching and tr...

Every entrepreneur wants a business that could outlive them. For that to become a success, you have to be very clear on what you want and make sure everybody is on the same page in terms of where you want to go and grow. This takes a great deal of honesty with your capacity as a leader and an individual. Therefore, the impact has to come from the top down to the bottom line.  It's a top-down issue...

Whether you're starting a business or you've already been growing and scaling your business, it might get to the point where it becomes challenging to deal with the complexity of its growth, all of the things you need to measure, and keeping things simple, practical, and powerful. Reducing complexity is challenging but you can keep things simple yet powerful by having the right KPIs and data caden...

Payroll is part and parcel of any company structure, but there's more to it than just processing payroll – and that's People and Culture.  In today's episode, we're going to dive into how People and Culture in HR is bigger than processing payroll. The HR function should not just be cutting checks for payroll or signing off on a handbook. It's more about finding ways to communicate with your employ...

We are not promised tomorrow. If you died or were disabled, how much would your loved ones have to invest in figuring everything out while they're also grieving your loss? If you're an entrepreneur or a business owner and you have children, having a last will and testament is one of the things you need to prioritize. You want to make sure your assets are treated the way you want and that all those...

Can you make a deductible contribution to an HSA (Health Savings Account)? Will the distribution in the HSA be tax-free or penalty-free? In today's episode, we're sharing these two flowcharts which you can use as a tool to help determine if this is going to be the right path for you to implement for yourself personally, or in your business (for yourself and your employees). This is only a 30,000-f...

If you have a limited liability company, an S Corp, a C Corp, a partnership, or anything that's formal and a legal entity, you need to hold an annual meeting in your business and document certain things that have been decided.   In this episode, we will give you a framework to think about for your next annual shareholders' meeting. The first quarter of the year is an excellent time to host this me...

Do you have a proven process? If yes, do you have a visual form of your proven process? And does 20% of the process drive 80% of your results? If you answered no to any of these questions, then you must listen to today's episode as we dive into our proven process here at The Bottom Line. In fact, it took us almost nine years to get a proven process. Although we've had processes all along, we didn'...

In this episode, Kevin Rogers and Rachel Mazza share their EOS journey and how, together, they have created a rocket-fueled business. With Kevin as the visionary of Copy Chief, and Rachel Mazza as the integrator, they have clearly defined their roles, allowing them to approach their business with clarity and accountability. Created by Gino Wickman, the Entrepreneurial Operating System or EOS was b...

If you still haven't been planning for retirement, there's no better time to start than now. Maybe you're a spender and not a natural saver or maybe you're too much of a saver and don't spend money when you should. Either way, this can cause issues down the road because there's a difference between spending, investing, and stewarding. Whether you have a spending problem, you haven't been brought u...

When was the last time you took a day off?  It's every entrepreneur's dream to have the freedom, flexibility, and discretion to take time off whenever they want. A lot of entrepreneurs want that freedom but they never get around to taking it. As we get older, we need time off even more than we did when we were younger. We also need to play more than ever. After all, what's the point of hustling so...

1099 in early 2022 is a hot topic. It's all over the news and the world is freaking out about 1099s. In this episode, we want to lay the foundation again and remind everyone, whether you're new or old, whether you've been in business for a while or are just getting started, what a 1099 is. We want to talk about what it's for, the basic requirements we all need to understand about 1099s, and when t...

In this episode, we talk about 2022 tax deadlines. Everyone should know when they need to file their taxes and pay their estimated taxes. If you show up with your accountant or tax pro on the day you have to get your tax return done, you're probably already too late to get it done in time. So, today we're going to break things down to the basics.  We want to bring out all this information so you w...

Most small businesses fail because they no longer have the cash to continue. And if you're growing a business, you've got to keep everybody on the same page and have the tools in place to drive extreme clarity.   In this episode, we're going to talk about how to master cash predictions through budgets. As a business owner, you have to get good at predicting. By putting the right systems and proces...

In this episode, the entire team at The Bottom Line CPA joins us to share our Thanksmas highlights. We spent a lot of time and energy having fun together and wanted to give you a glimpse into our world and what's happening behind the scenes. It was nice that, for this one day, we just focused on building relationships with one other. All of us took our work hats off and just relaxed and opened up....

Are you quick to say phrases like, "I won't," "I can't," or "I shouldn't?" If so, that's a good sign that you're tapping into a limiting belief.  We all have limiting beliefs as a result of our past experiences, family backgrounds, and spiritual or socioeconomic backgrounds. Oftentimes, these beliefs were instilled in us in childhood and we carried them with us as we got older.  In this episode, w...

In this episode, we dive into understanding tax deductions for mileage and vehicles. We get lots of questions about vehicles before the end of the year because people want to know if they can buy a vehicle with all of their profit and get a tax deduction for it.  Well, hopefully. Like all tax subjects, things can get a little confusing because there are different options to consider.  You shouldn'...