The Boutique Bookkeeper Show | Know Your Numbers & Prepare For Taxes

You might already be familiar with the 1099s you RECEIVE as a business, but did you know that you ALSO have a requirement to SEND any 1099 documents to individuals and businesses that meet certain criteria? It’s not just a responsibility of large corporations - ANY small business may also need to send out 1099s at the end of the year. Today’s episode is going to walk through the 4 requirements to...

Today we are doing a little thinking & strategizing on what you can do BEFORE the end of the year to help save a little money on this upcoming tax season. Generally, your bank account balances are getting a little stronger as we move through this holiday season, and I see so many business owners start spending money like crazy to “get the tax deduction”. And yes, while there may be SOME truth...

I truly believe that EVERY business owner’s least favorite part about running a business is taxes. But, it is a part of EVERY business, so, like it or not, you gotta have at least a very BASIC understanding of how taxes work for your business, so that’s what we’re going to be looking at today. This episode is going to explain the basics of how income taxes work for Sole Proprietors, LLCs, S-Corps,...

Alright, over the last 3 weeks we’ve looked at each of the 3 primary financial statements, but they are not totally separate & independent reports meant to stand alone. They all work together to give you the big picture of your business, and that’s what we’re gonna look at today.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where y...

Have you ever gotten to the end of a great sales month, but you look at your bank account and wonder where all that money went? Maybe you look at your prior month Income Statement and it shows you had a $10,000 profit, but you only have a couple hundred in your bank account. If you’ve ever found yourself in a similar scenario, then the answer to your question can be found in your Statement of Cash...

Most business owners are at least somewhat familiar with an Income Statement, but the Balance Sheet is often ignored. This report is still important for you to review so you can see how your boutique is (hopefully) getting stronger over time. Today, we’re going to talk through the general layout of the Balance Sheet so you can begin to read & understand what this report is saying for yourself....

The Income Statement is probably the most well-known financial statement, but it’s important that you know how to read & understand what this report is telling you about your business. This episode is going to explain the purpose of the Income Statement, walk through the general layout so you know how to read & understand it, and then wrap it up with a few specific numbers & calculatio...

I’m guessing there are at least a few of you listening here where your bookkeeping routine consists of a year-end scramble where you’re just trying to pull all your numbers from your Shopify reports, Bank statements, and receipts. But, I also know that that routine often comes with some stress & worry that you’re doing things right, and you’re actually getting all the numbers that you need. In...

Hey boutique owner! If you use Shopify for your boutique, you are not gonna wanna miss this episode, because we are talking about the 3 reports you need inside Shopify when it comes to your bookkeeping & taxes. These are the only 3 reports I look at on a regular basis for all of my clients, and I also talk about the best way to get the numbers from these reports INTO your bookkeeping so your b...

As a business owner, it is your responsibility to report all income you’ve earned in your business when tax time comes around. You also have the OPPORTUNITY to report any and all business-related expenses that reduce that income, to reduce the amount of taxes you owe. These expenses are often referred to as tax deductions, or write-offs. Generally speaking, you will be able to write off any expens...

I know the money-side of your boutique business can seem scary, but that’s just because it’s unknown! We’re gonna start this podcast off REAL simple and start with the basics that lay the foundation for helping make the money make sense - your bookkeeping. We’re going to look at what bookkeeping is, why it matters, and 3 practical things that you can start doing today to start making the money mak...

The key to having easy to read & understand financial statements is having a clean & organized chart of accounts. Today's episode is going to dive in to what that is, why it matters, and how it's organized.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly...

Quickbooks Online is my absolute favorite bookkeeping software because of it’s ability to save you valuable time on your bookkeeping. This episode is going to help you decide which subscription level is right for your business, and then we’ll walk through the steps you need to do BEFORE you actually start USING Quickbooks to make your bookkeeping easier & faster.   Ready to take your learning...

It’s always fun to focus on the “fun” parts of starting a business - creating the logo & branding, buying the fresh, new inventory….but there are some “not so fun” steps to make sure you do when starting a retail boutique business. From insurance to financial planning, this episode covers the 10 things you need to do when starting your boutique business.   Ready to take your learning a step fu...

Are you making sales in your boutique but still wondering where all your money is going? Do you panic at tax time because your books are a mess—or worse, nonexistent? Are you tired of feeling like you should understand your numbers, but no one ever taught you how? If you’ve ever felt confused, overwhelmed, or straight-up anxious about the money side of your boutique business, you are not alone. Ru...