Pay Play Profit

It's almost Thanksgiving! It's also a great time of year to understand what quarterly and annual planning should look like because, as an entrepreneur, you want to schedule your success and not lose traction.  At The Bottom Line CPA, we're following the EOS (Entrepreneurial Operating System) style where we break our annual planning down into 90-day segments to make sure that we're still aligned wi...

As a business owner, you definitely want to maximize your tax deductions. In simple terms, a tax deduction is anything you spend or incur in your business that is an expense of some sort. It's a deduction against the revenue of your business, whether you consider it a cost of goods, an expense, or even a home office deduction.  Sometimes, tax deductions are not 100%. In particular, most people thi...

Year-end is the perfect time to decide if you're with the right accounting partner. In this episode, Ashley Travis, our digital marketing person at The Bottom Line CPA, joins us to talk about the top 12 questions you should consider asking when it's time to hire an accountant, tax preparer, or accounting team for your business. Ashley pulled these 12 questions together based on the things we get a...

Today, Lindsey Fronaphel CPA joins us as we dive into inventory and operational expectations in 2021. There are a lot of moving parts to inventory, making it a big deal especially in the world of e-commerce.  If you don't have inventory, you don't have sales. You have to keep your eyes on your inventory levels so you don't run out of it and in order to maximize sales. You also need to understand n...

What does your desk say about you? Are you the cluttered or clean desk type? Do you have post-it notes all over or is the OCD-ness in you evident in your desk being filled with Clorox wipes, air spray, and all the other cleaning supplies you have? Our desks actually tell a lot about us and how we work.  Today, we talk about the tale of two desks and their meanings. This episode is about what our d...

As a visionary or an executive, you may get it in your head sometimes that you're hiring people for yourself. However, you're there as a leader for your people. Success depends on the growth of your leadership. Therefore, you have to be the leader that your people are proud to serve.   At The Bottom Line CPA , we're in the process of adopting the Entrepreneurial Operating System (EOS) founded by G...

The Employee Retention Credit is a new credit that came out of the CARES act. The federal government put it in place to try to keep employees employed. They are giving employers money back to ensure this.  The credit is basically a refund of the Social Security and Medicare taxes you have paid on your employees' wages. The idea behind the credit is to defer your payroll taxes. By the time the taxe...

With the increase of cyber-attacks in our world today, it's no longer a matter of if but when . Don't think IT stuff is only for big companies; it's for everybody. Whether it's through identity fraud or an information breach, getting your security and your company's security compromised could cost you everything you've worked for.  Chris Mahler, CPA, is back on our episode today. We dive into the...

In this episode, Chris Mahler CPA joins us as we take a deep dive into what your tax pro needs to know for tax planning. We specifically touch on two parts. The first is the difference between tax planning and tax compliance. The second is the difference between basic planning and advanced planning. We want to reimagine entrepreneurial success and keep it simple, practical, and powerful. Although...

Over the years, we have seen how the way we're setting and achieving our goals has evolved. A huge part of our growth and traction is the Entrepreneurial Operating System (EOS) that we've implemented in our business.  When we first started out, we had short-term goals such as getting the blogpost or newsletter done or sending out emails once a week. Back in August 2020, we decided to be an EOS com...

In this episode, learn how you can make some breakthroughs by taking on very intentional scheduled clarity breaks and how you can start making better profit decisions in your business.  Our company has been running on the Entrepreneurial Operating System (EOS) and it has truly moved the needle in terms of leadership in our leadership team, the performance of our entire organization, and the growth...

In this episode, we dive into pricing.  Not all sales are created equal. There are several reasons that that happens. One of those reasons is that every decision is a profit decision where profit is measured in time, energy, and money. Therefore, when we sell something, it requires time, energy, and money. Now, if you have good money but it robs you of your time and energy, that's not a good prici...

In this episode, we talk about the 2021 Child Tax Credit and give you a baseline on what this credit is and what it isn't. The Child Tax Credit has existed since the 1990s but just this year, President Joe Biden put forth the Advanced Child Tax Credit as part of the American Rescue Plan. Today, we're going to discuss some of the changes and adjustments that have been made. Our role on this podcast...

It's the end of the quarter which means it's profit distribution time! At Profit Hero, we celebrate the end of each quarter. We hope this episode inspires you to also celebrate profit distribution by the end of Q3.  The end of each quarter is sometimes bittersweet for us because not everybody has the same story. However, there are always good things at the end of each quarter, no matter what that...

The pandemic is not over. Even in this post-pandemic world, small businesses are still feeling the impact of it. In order to help alleviate the pains of many small businesses, the government created the Paycheck Protection Program. But there are deadlines associated with it as well. In this episode, we're going to dive into Paycheck Protection Program Deadlines (June 2021 edition) and what people...

Do you feel like you're a square peg in a round hole as an entrepreneur?  Many times, we think we have to get it all figured out right away. Then, we think we have to stay exactly the same as who we were the day we started. If our business doesn't look like it was supposed to look when we set out to start it, we view that as a failure. In today's episode, Katie Chase shares how her entrepreneurial...

When you're in the season of your business where you're ready to scale, whether you're one person or a company of 10 or 100, you've got to start thinking about doing financial projections. However, a financial projection is not just about cash flow forecasting. There's actually more to it than that.  In this episode, we dish out the five baby steps to doing financial projections for your online bu...

Are you scared of emailing people just because you think you're going to bother them? Whether you're still new to ecommerce or you're scaling to grow your brand, it's crucial that you know how to run email marketing campaigns effectively. Today, email copywriter Chris Orzechowski talks about why having an email marketing campaign is one of the keys to your success as a business owner.  Chris skipp...

Is your online business paying you $1 an hour – worse than your previous job? Are you tired of selling online courses that you're not even sure someone is going to buy or perhaps you've already reached your peak? If you're at a point in your online business right now where you feel stagnant or stuck and you're trying to figure things out, consider the power of a membership model. Every decision is...

What's the cost of protection worth to you? If you're a growing business, and you're involving people in it – even if it's just you and five others in your team, or whether it's virtual or physical – there are a lot of things to navigate around the HR world.  Today, Tameaka Shelton of Employ and Relate helps us break down some HR basics that you need to get covered so you can bulletproof yourself...

Are you fond of using images, memes, and GIFs on your website?  FYI: All of those things are copyrighted.  So if you're using those in your business for a commercial purpose, you're almost certainly violating someone's copyright and you're putting yourself at risk. And that could mean being charged thousands of dollars! People have also been fed this notion that all you need is an idea and a lapto...

Was your last business a failure? Then how is your next one going to be any different? One of the challenges business owners have is trying to get away from other people's approval. We could get so wrapped up in what other people might say about us.  But if you truly want to succeed in business, you have to make that conscious decision to change your personal narrative from "I'm NOT going to be su...

What do you do when you have a child who is falling through the cracks while you're also running and growing your business at the same time? How can you give your child the right kind of understanding and support they need when you're also struggling to juggle things as an entrepreneur? In this changing environment, there are things that also need to be changed in our educational settings.  First,...

Leadership, in general, is under attack right now. And as a leader, it's time for you to start reimagining entrepreneurial success so you can continue to serve and make a difference in the world.  This episode draws inspiration from Craig Groeschel, a pastor, a dedicated leader, and author of the book, Winning the War in Your Mind: Change Your Thinking, Change Your Life . He came up with this trai...

This episode is BREAKING NEWS related to the 2020 tax update regarding the choice of states on the deductibility for paycheck protection. We feel it's important to get the word out because this is one of those little hidden minefields that nobody knows about. And frankly, your tax preparers, accountants, or advisors may not even know about this. After all, there's just so much to know.  So here it...