What Your CPA Wants You to Know

Send a text THROWBACK EPISODE! OLDIE BUT GOODIE :) If you started a business and didn't file any paperwork, what type of business are you??? Do you know??? The IRS will automatically classify your business as a sole proprietorship and that you  will file the business income and expenses on Schedule C of your personal tax return. So not much will change except for your tax return! If you filed...

Send a text Join us as we challenge common tax myths that we hear often from clients. We explain why your CPA doesn't need a collection of every single receipt, thanks to the magic of bank statements, and how the progressive tax system really works.  Listen to this quick 10 minute episode to learn what's true and what's false (& impress your CPA this tax season)! Support the sho...

Send a text There are SO many things for business owners to do at the end of the year + the first month of the new year! It's a LOT! This episodes guides you through what you should check off your list before the end of 2024. We help you get organized for tax time and explain what you can do before the year ends to reduce your taxes! With these actionable insights, equip yourself to minimize...

Send a text Confused about transferring money from your business to personal accounts? Whether you run a partnership, S-corp, sole proprietorship, or partnership, we'll guide you through owner distributions and explain why these transfers aren't classified as expenses.  This episode is a must-listen for business owners confused on how to account for owner distributions and how they work!...

Send a text Are you using QuickBooks or another accounting software? Are you using it correctly? In this episode we discuss the big issues we see with Quickbooks (mainly user errors) and the biggest bookkeeping mistakes we see often. With QuickBooks subscription costs on the rise and many client complaints, we have a new tool in the works! Get excited about our new bookkeeping tool set to launch i...

Send a text New tax laws coming in hot.  Have you wondered what an unrealized capital gains tax could mean for you? Discover how the proposed tax changes could impact investors, from high-net-worth individuals to everyday people, and why it's crucial to stay informed even if you're not a millionaire. Join us as we discuss this proposed change and why its not as terrible as it sounds, for...

Send a text Curious about the secrets to stress-free potty training and successful business partnerships? Join us as we chat with Sarah Mechling, the brilliant mind behind Tinkle and Toot , a potty training support business for parents. We discuss the complexities of business partnerships and Sarah's previous experiences. She opens up about the importance of setting up proper legal agreements...

Send a text Ever wondered how to equip your kids with the skills to manage money wisely? In this episode, we share things we do with our kids to teach them about money! We discuss how guiding your children to save for big-ticket items, like their first car, can instill lasting lessons in planning and patience.  We share practical tips and strategies for integrating financial education into your pa...

Send a text What if you had a personal trainer for your business finances? In this episode, we introduce our Monthly Accounting Plan, designed to help business owners stay ahead of their accounting and tax duties, and budget for accounting services! This monthly accounting plan is a proactive, year-round CPA service. With consistent monthly consulting calls and annual tax projections, this members...

Send a text Ever wondered what increasing your website traffic could do for your business? Meet Maggie Schneider, a Squarespace web designer and SEO consultant that specializes in increasing online visibility for her clients in the health and wellness space. She started her business, Hilltop Help in 2021 looking for a creative outlet and a way to work from home while raising her two young children...

Send a text How did managing your online business become such a technical headache? Discover a game-changing solution that’s transforming the way creators, influencers, and business owners operate. In this episode we discuss the benefits of Stan Store—a robust platform that rolls the functionalities of Shopify, Flodesk, and other essential apps into one seamless, easy-to-use tool.  Inspired by a p...

Send a text Ever wondered how to steer clear of the most common pitfalls as a business owner?  In this episode, we tackle everything from opening separate business bank accounts and maintaining proper bookkeeping, to avoiding the pitfalls of rapid business growth and budgeting effectively for accounting and legal services. Hear our tips on setting aside funds for taxes and simplifying tax preparat...

Send a text Ever wondered how humor can transform your marketing? Join us as we welcome Janelle Baum, the orthodontic influencer, who shares her unique journey from an orthodontic treatment coordinator to a sought-after speaker and consultant. Janelle's comedic talents led her to helping orthodontic offices enhance patient engagement and drive sales. Get ready to laugh and learn as Janelle re...

Send a text Ever wondered how a small CPA firm can handle a large workload efficiently and produce record breaking profits? This episode is your gateway to understanding the secret sauce behind our firm's growth and productivity. In this episode we share basic tools like phone apps and spreadsheets to advanced solutions like monday.com. Discover how adopting the right tools can significantly...

Send a text Forking over $31,200 yearly for health insurance as new entrepreneurs sounded like a financial nightmare. That was not in our budget when we started our business years ago. We did some research and stumbled upon the world of health sharing plans. We know if you're starting a new business, health care has likely crossed your mind!  In this episode we explain what we did for health...

Send a text  Throwback: In this episode we explain the importance of keeping your W-4 in check, ensuring you're not caught off guard with a hefty tax bill or a disappointing refund. We get so many questions about the W-4 form and how it should be filled out so we are breaking it all down in this episode! If you had a big tax surprise this year, this episode is for you! Support the show Create...

Send a text Have you heard of the new Beneficial Ownership Information Report that must be filed by all LLC owners in the U.S?!? This is the first year it is required and it is due quickly if you filed a NEW LLC in 2024.  It's due by the end of the year if you file for an LLC established before 2024! In this episode we explain what this new BOI report is and help you understand everything fro...

Send a text In today's episode, we take off our "accounting" hats and put on our "business owner" hats to share how we do a quarterly meeting in our business and how you can do it too! Ever wondered how tweaking your pricing strategy could work wonders for your revenue? That's just one tip we share as we guide you through the art of conducting a quarterly business rev...

Send a text Do you know how to read your tax return? Do you review your tax return when your CPA sends it over? Do you know how?  In this episode we explain the numbers on your personal tax return (Form 1040) and how to review your tax return. A skill everyone should have! This episode is perfect for everyone, whether you file your return yourself or pay your CPA to prepare your tax return.  We al...

Send a text Every now and then, we cross paths with someone whose strength is so palpable, it resonates through their stories and touches our lives. Josie's story of unwavering love and resilience as she navigated the diagnosis of her third daughter's heart condition and Down syndrome is one you won't forget. Our latest episode offers a window into her world, where the simple act of...

Send a text Do you need more time to file your tax return this year? If so, don't forget to file an extension to reduce penalties! In this episode, you'll learn the ins and outs of tax return extensions.  We dissect deadlines for all tax return filings and the penalties assessed if you do not file on time and/or do not file an extension. We also talk penalties and interest—because if the...

Send a text Ever wondered how you could safeguard your financial legacy with a trust? Why do people set up a trust? How do they work? That's what this episode is all about! In this episode we explain the nuances of trusts, and there are a lot! We start by explaining exactly what a trust is, how it is used, and the various types of trusts. We also explain the tax implications for the various t...

Send a text Wondering when you should hire a CPA? When is it okay to DIY your taxes?  If you own a business, you definitely want to hire a CPA to do your tax return even if you've done your own return in the past! In this episode we explain why that's the case and how you can find a good CPA for your business .  We also discuss what working with a CPA looks like during the year and durin...

Send a text This episode is a must-listen for anyone who owns rental properties or is contemplating a jump into the market. We discuss why your new rental property won't instantly wipe out your tax bill, despite popular belief. We go over all deductible expenses and educate you on the subtleties of depreciation, all to prepare you for making savvy investment choices.  Wrapping up, we dissect...

Send a text Struggling to navigate grocery budgeting and personal finance? You're in luck, because we've got Samantha Gollup, the brilliant mind behind Anti Diet Mama, helping guide us through grocery shopping in our latest episode. As a registered dietitian, she shares her tips for mindful shopping, offering practical tips to avoid decision fatigue and align your cart with your wallet....