What Your CPA Wants You to Know

Send us a textWe celebrate our 100th episode by giving listeners a behind-the-scenes look at our podcast journey, from inception to production challenges to our biggest wins.• Started the podcast in January 2023 to help people we couldn't take on as clients• Purchased a podcast course for $150 which provided crucial guidance on equipment, hosting, and editing• Recording during tax season was challenging but strategic, as downloads are highest in the first half of the year• Initially scripted episodes but became more comfortable with time, though still prepare notes for specific tax regulations• Hired an editor (Kevin) which made continuing the podcast possible• Our top three episodes: QuickBooks, paying kids from your business, and common startup mistakes• Biggest wins include the personal finance series and S Corp series, which have helped listeners save thousands in taxes• Moving to a bi-weekly schedule to make production more manageable• Planning a second, more personal podcast focused on family lifeThanks for helping us reach 100 episodes! We'll continue providing tax and accounting wisdom every other week, focusing on the latest tax code changes and business strategies to help you save money.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textThe Augusta Rule offers a legal way to transfer money from your business to yourself tax-free by renting your home to your business for up to 14 days per year. This often-overlooked tax strategy allows business owners to deduct the rental expense from their business while receiving tax-free personal income.• Rent your personal residence to your business for up to 14 days annually without paying personal tax on that income• Your business can deduct the rental payment as a legitimate business expense• Determine fair market rent by researching comparable event spaces in your area• Create and maintain a formal rental agreement between yourself and your business• Document each use with invoices and calendar entries• Pay yourself from your business account using traceable methods (transfers, checks, digital payments)• Monthly strategy sessions are ideal for implementing this strategy while staying under the 14-day limit• Take photos and keep notes from meetings as supporting documentation• Rental payments of approximately $1,000 per day are typical, depending on your locationSend this episode to a friend and let them know about What Your CPA Wants You to Know Podcast!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textPaying your children through your business is a legitimate and powerful tax strategy that can save you thousands every year!• Reduce taxes by converting business income into deductible expenses with zero tax impact• Children earning under $15,000 (2025 standard deduction) pay no income tax and don't need to file returns• Sole proprietors (Schedule C) and farms (Schedule F) don't pay payroll taxes on wages to children• S-corporations must pay payroll taxes, but strategy remains beneficial for 22%+ tax bracketsThanks for listening! Please share this episode with fellow business owners to help them save on taxes too.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textWorking with a CPA effectively requires understanding both what to do and what to avoid to create a productive professional relationship that benefits your business.• Be organized when providing documents rather than dropping off unsorted boxes• Avoid piece-mailing documents and instead provide complete packages when ready• Consolidate questions and communications to respect your CPA's time• Ask questions to understand your tax situation and learn from your CPA• Plan ahead for taxes and save a portion of profits throughout the year• Set clear expectations about which specific services you need from your CPA• Respect their time as a professional service provider who bills for consultations• Don't wait until the last minute to submit documents during busy season• Never ignore tax deadlines or expect your CPA to care more about your business than you do• Understand that CPAs cannot eliminate all taxes, only help minimize them legally• Keep business and personal finances completely separate• Budget for CPA fees as a regular business expense• Don't assume your CPA handles everything without specific agreements• Feel comfortable switching CPAs if the relationship isn't working wellIf you've found this episode helpful, please leave us a review!!!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textWe tackle the critical but often overlooked task of proper bookkeeping for business owners and share how avoiding common mistakes can save you thousands of dollars and countless headaches. • Bad bookkeeping comes in many forms—from procrastination to incorrect QuickBooks entries• Cleaning up messy books often costs more than starting from scratch• Hiring an inexperienced bookkeeper can be more costly than doing it yourself or contracting an external accountant• Monthly bookkeeping creates visibility into your finances and helps avoid tax surprises• Regular review of financial reports is essential to catch errors before tax filing• Separate business bank accounts are crucial even for simple businesses using spreadsheet accounting• Setting regular calendar appointments for bookkeeping helps maintain financial clarity year-roundCreate a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textWe decode the confusing rules around when children and dependents need to file tax returns, covering both W-2 employment income and 1099 contractor payments.• Children with W-2 income under $14,600 (2024 standard deduction) don't need to file unless they want to claim a refund• Parents can still claim college students as dependents if providing over half their support• 1099-NEC income has a much lower threshold - children must file if they earned over $400• Self-employment taxes (15.3%) apply to 1099 income even when income tax doesn't• Always track and deduct business expenses to reduce taxable profit on 1099 income• Common deductions for teen workers include certification costs, mileage, and equipmentIf you found this episode helpful, we would really appreciate if you would share it with somebody that you know.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textThis episode highlights significant upcoming tax changes for 2025 that every business owner should be aware of!• Discussion of the BOI report saga• Overview of major tax changes impacting 2025 • Depreciation Changes business owners should plan for.• Estimated Tax Payments and the new penalties!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textThe episode dives into the updates surrounding the BOI report, which requires LLC owners to report beneficial ownership information to FINCEN. Here we discuss the BOI updates as of today!• Introduction of the BOI report and its purpose • Current status, with no legal obligations to file now • Importance of monitoring updates closely • Recommendations for proactive filing and seeking clarity • Encouragement to share the episode for awarenessCreate a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textEver felt like you're sacrificing your family life for business growth? It's a dilemma many of us face, especially as we navigate the complex demands of 2025. This episode is a reflection on the art of setting boundaries to ensure that our professional ambitions don't overshadow the important moments with our loved ones. With three active kids, the conversation is about making intentional business choices that align with family values. It's about saying "no" when necessary, adjusting work hours, and hiring help to avoid the burnout that comes from trying to do it all. This episode is your reminder that a business should serve your life, not consume it. With insights on goal setting and productivity, we encourage you to create a balanced lifestyle that supports your overall well-being!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textTax season is here and this episode delivers our help to navigate it successfully. We discuss critical deadlines, necessary filings, and how to prepare efficiently for your taxes while avoiding common mistakes. We cover all the questions that have been hitting our inbox this week to help you get 2024 wrapped up and organized to file your tax return!• Importance of early preparation for tax season • Key deadlines for end-of-year filings like W-2s and 1099s• 1099 requirements and deadlines • Using QuickBooks and digital tools for filing • What documents to submit to your CPA • Important tax due dates • Tax extensions and penaltiesCreate a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textSetting clear goals at the start of a new year is essential for any business's success. We encourage deliberate planning to review past performance, establish actionable goals, and stay aligned as a team throughout the year. • Reflecting on last year's successes and challenges • Setting realistic and actionable goals for 2025 • Weekly meetings for team alignment • Updating and refining standard operating procedures • Proactive client communication and training strategies • Discussing budget and marketing efforts • Documenting meeting notes for accountability and progress tracking • Emphasizing work-life balance alongside business growthCreate a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textPlease note: There is a temporary pause in enforcement of the BOI Report filing following a significant court ruling this month. Though we do think the BOI report will eventually need to be filed at some point.This episode walks you through how to file your BOI report on the FINCEN website if you have not yet filed!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textTHROWBACK 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 an LLC, you can still be classified as a Sole Proprietorship. You will have some additional filing requirements for the state you filed the LLC in. In this episode we discuss:-Do you need an EIN for your sole proprietorship?-What expenses can you deduct (i.e. save $$ in taxes)?-How do you file your business taxes?-What other filing requirements do sole proprietors have?-Can you be an LLC and a sole proprietorship?If you are new to owning a business, this episode is a perfect place to start educating yourself on paying taxes as a business owner! Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textJoin 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)!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textThere 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 tax liabilities, align with your business needs, and confidently step into the new year penalty-free.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textConfused 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! Tune in and empower yourself with the knowledge to tackle owner distributions head-on.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textAre 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 in early 2025, to simplify tax estimation and expense tracking. The tool will offer more than just basic tracking; it aims to revolutionize how you handle mileage, assets, loans, and home office deductions.  Let us know what else you'd like to see included!Join the waitlist so you can be notified when it is ready HERECreate a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

Send us a textNew 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 now! :)Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 and the steps new entrepreneurs should take to protect their ventures. From obtaining an EIN to forming an LLC, Sarah shares lessons learned the hard way. Connect with Sarah!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 parenting. This is one topic we love to talk about, come join in on the conversation with us!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 membership-based service is here to provide ongoing support and strategic guidance, ensuring better financial health for your business.We focus on how this structured approach can lead to significant cost savings and more informed financial decisions. If you're a business owner looking to transform your financial management, this is your chance to learn how to secure one of our limited client spots! Reach out to us at: carson@sandsco.netCreate a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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. She eventually left her career as a registered nurse to pursue her business full-time and has helped businesses grow their brand awareness online and get more leads and sales through strategic content marketing and thoughtful search-engine optimized web design. Maggie also recently launched her SEO course RANK Method- which is the A-Z blueprint to simplify SEO and marketing strategies for the busy business owner. She is most active on Instagram @hilltophelpInstagram: instagram.com/hilltophelpWebsite: hilltophelp.comFREE 5-Day SEO Email Challenge: hilltophelp.com/seo-challengeFREE Content Creation Training: hilltophelp.com/contentSEO Course (RANK Method): hilltophelp.com/rankUse discount code CPA100 to get $100 off the price of RANK Method. Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 podcast featuring Stan Store's founder, we dive into the vision and motivation behind this groundbreaking software. Learn why Stan Store is becoming indispensable for those who want to enhance their digital presence without the usual tech stress. Whether you're struggling to juggle multiple apps or looking to streamline your business processes, this episode will be helpful! Tune in to find out why Stan Store is the must-have tool for today's digital entrepreneurs.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 preparation, including the practice of scheduling a projection meeting with your CPA. Prepare to equip yourself with knowledge that can save you from costly mistakes and ensure your business thrives from the start!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 reveals her strategies for standing out in a crowded market with creativity and humor.Authenticity and consistency are at the heart of Janelle's success, and she shares how embracing your unique personality can set your brand apart. Think of yourself as a "Froot Loop in a world of Cheerios"—and don't be afraid to be different. We'll discuss the importance of regular engagement on social media and the value of feedback from your community. Janelle's insights on blending your true self with your marketing efforts will inspire you to refine your content and style for maximum impact.This episode is packed with tips for maximizing social media, boosting client engagement, and driving business success.Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 enhance your business's efficiency and profitability.A favorite tool of ours is Calendly. Learn how integrating this scheduling tool not only streamlined our appointment process but also reduced no-shows and ensured upfront payments. This episode covers the significance of gradually implementing efficient business practices over the years. By staying organized and finding creative ways to cut down on time, we've managed to grow our client base while maintaining high-quality service.Don't miss out on these valuable tips that can transform your business!Here are the products mentioned in the episode that we use and love :Calendly - for booking meetings Flodesk - for emailing customersNextivia - For internet phone systemSquare - for invoicing, payroll, and more!Create a STAN Store - Click here to try it out!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Shop our business guides!Our Instagram PageOur family page

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 coverage when we quit our jobs and what we do today. We share the pros and cons of health sharing plans that can save you money if you are on a tight budget in the beginning.  Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

 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!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 from the filing process on the FinCEN website to the substantial penalties that will be assessed if you forget(!).We lay out all the info you need to meet the critical deadlines and explain when you might need to refile. This episode is SO important for all LLC owners! Send this to everyone you know who has an LLC!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 review to supercharge your growth. We explain how we review our financial reports every quarter to uncover growth trends, optimize expenses, and set achievable goals for our small business. In this episode we discuss using automations in business, cutting costs, planning for upcoming months, and saving for taxes.  A quarterly review is a must for all business owners! Stay with us, and you'll learn how to make every quarter count, laying the groundwork for a financially sound and thriving business.Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 also explain our progressive tax system, the ins and outs of self-employment taxes, and strategies like S-corp status that could potentially lighten your tax burden. By the end of this episode, you'll be equipped to review tax payments and withholdings with the skill of a seasoned pro, ready for the next tax season without any nasty surprises.Plus, we tackle the critical step of signing Form 8879 for e-filing, and why aligning the numbers on your tax return with those on the form is not just about accuracy—it's about peace of mind. So, grab your tax return and join us for a session that promises to educate and empower you for future tax seasons.Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 crafting bracelets sparked a global chain of support. These bracelets symbolized hope and togetherness for people all around as her daughter braved the critical heart surgery. Josie's candid recounting reminds us that even in our darkest times, the compassion of others, can shine through.Josie started her business, Love for Littles, a venture where passion meeting business. Josie's story captivates as she details how a personal mission evolved into a means of solace for families battling health crises. It's not just about the bracelets, but the bonds they foster. As her children contribute, taping these symbols of solidarity onto cards, we're reminded that business can be both a labor of love and a family affair. Join us to hear how Josie started a business from passion and how she is making money while also supporting others along the way!Find Love for the Littles Here:Website: www.theloveforlittles.comInstagram: https://www.instagram.com/theloveforlittlesFacebook: https://www.facebook.com/theloveforlittlesTikTok: https://www.tiktok.com/@theloveforlittlesPhone Number: (920)207-9453Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 there's anything less exciting than watching paint dry, it's watching your hard-earned cash wash away to the IRS. But fear not! We've got your back, breaking down how the IRS penalizes those who file late and those who forget to file an extension. And if you're staring down a tax bill that looks more like a phone number, don't panic! We cover the IRS payment plan and why it beats the ostrich strategy (aka burying your head in the sand) every time. So, sit back, relax, and let us guide you through all the details you need to know about filing an extension for your tax return!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 types of trusts (of course)!We discuss the many reasons why establishing a trust could be a wise move for you. Not only do trusts offer a robust shield for your assets from unforeseen legal challenges, but they are also pivotal in estate tax planning and planning the distribution of your wealth. Whether you're looking to preserve a family business, ensure future care for a loved one with special needs, or simply lay a solid foundation for personal financial planning, this episode is your guide. Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 during tax time! We also cover CPA etiquette and billing that everyone should know . Ever wondered if that quick email to your CPA will cost you? We break down the billing protocols, so you're never caught off guard. Plus, we explain the full spectrum of services CPAs provide.  Whether you're a seasoned business owner or a newcomer to the financial arena, this episode is your compass to confidently choosing and working with a CPA who will bolster your business's success.Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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 the tax deductions associated with different types of real estate involvement. Whether you're a passive investor, actively managing properties, or aiming for the coveted real estate professional status, we clarify how each impacts your ability to manage tax liabilities. Our goal is to make complex tax and accounting concepts understandable!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

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. Samantha's also completed our Personal Finance Workbook and we discuss the things she learned and the changes she made after working thorough our guide. Tune in and transform your financial conversations from dreaded talks to empowering ones! We share how empowering it can be to simply discuss your financial goals and make a plan for your family. This is an episode for everyone!Samantha Gollup, MS RDNInstagram: @anti.diet.mama Website: www.antidietmama.comHere's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

The S corp tax strategy. Have you heard of it?  This episode is a must-listen for those entrepreneurs whose businesses have crossed the threshold of $50,000 in profits after expenses. Get ready to equip yourself with the knowledge needed to determine if your business is a prime candidate for S corp status and understand the critical timeline for filing the forms that lead to significant tax savings.We explain the additional responsibilities that come with an S-Corp structure, including owner payroll and separate business tax filings. With the March 15th deadline to file Form 2553 looming, we discuss the role of a seasoned CPA who can steer you through the transition seamlessly. Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Have you ever hit a jackpot and ended up with less than you expected after taxes? This episode is all about gambling income and the tax implications. We discuss the crucial yet frequently overlooked aspect of gambling winnings and losses. We'll guide you through everything from 1099 forms handed out by casinos for those wins to deductions for your losses, which are important during tax season. We see all too often our clients owe unexpected taxes when they have gambling income, which is why this episode will be so helpful!Remember, a little preparation and awareness can save you from the gamble of an unexpected tax bill.Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Ever wonder why some tax returns get the dreaded IRS audit while others glide by? Join us as we share the red flags that you do NOT want to file on your tax return! We've seen several audits happen because of these things and we want to share them with you. We explain the chances of your tax return getting audited and what happens if you DO get audited. If you have a business on your tax return, we share many things we've seen lead to an audit!  Make sure to check out this very crucial episode!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

In this episode we guide you through the critical dates and details that every S-Corp and Partnership owner must know. Don't forget that the March 15th deadline for filing those business tax returns is approaching! In this episode we explain the 1120S and 1065 tax returns for partnerships and S Corps and how to understand them and the taxes you will pay from your business!We discuss what you need to give your CPA to file your tax return if you are filing a business tax return.We also answer these questions:What's a K-1 and how does it work?What happens if I don't file on time?What are ways to reduce taxes if you have a partnership or S Corp? We got you covered with practical advice on preparing for a smooth business tax return process. We cover the essential documents your CPA needs and the nuances of deductible expenses, including assets like vehicles that can offer significant tax relief.We emphasize the power of keeping your books up to date—not just for compliance, but to take advantage of tax-saving strategies like the Augusta Rule. Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

As a mother of three, Elizabeth joins us to share her experience opening and running her own business. We discuss her pivot from traditional therapy to entrepreneurship and managing the beautiful chaos of motherhood. We discuss honestly how we both deal with our professional ambition and the demands of parenting three children. Elizabeth shares the strategic shifts that led her from personalized therapy to the creation of her podcast and an online course. In this episode, not only does she reveal the nuts and bolts of managing business with personal life but also provides advice for those eager to do the same. We chat openly and honestly about how we balance our ambitions as business owners and desires to be present mothers during these important years.  Elisabeth's PodcastElisabeth's websiteElisabeth's InstagramHere's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

In this episode we talk about the standard deduction! Why? Because MOST people don't really understand how it works.  After you listen to this episode you will know how it works and if you will use the standard deduction or itemize on your next tax return.  We explain common tax deductions that we get asked about daily like: medical bills, home office expenses, and charitable contributions. We answer all of our listener questions and get you ready for tax season!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Ever been bewildered by owner distributions and their role in your business and personal finances?  We explain why these distributions are not considered personal income, how they differ from business expenses, and the implications for your tax return.  Make sure not to make the most common mistake when accounting for owner distributions! This episode will help you understand this term, why it's important, and how to properly account for it!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Ready to conquer the end-of-year tax scramble with ease? In this episode we guide you through the must-know ins and outs of 1099 filings. This episode will help you understand the who, what, and when of 1099s, so you can stay in good standing with the IRS without breaking a sweat.We cover the critical role of the W9 form and how to discern who is deserving of a 1099 and what entities do not need a 1099.  Don't let tax season be a source of anxiety—let's tackle it together!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Are you a passionate entrepreneur with multiple projects simmering on your burners? Join us as Ashley Kinsvatter pulls back the curtain on managing a travel agency and a political podcast while navigating motherhood.Ashley shares how she turned her travel hobby into a legitimate business and launched her own podcast called, 'United She Stands'. Ever wonder what a mastermind is all about? We talk about the mastermind we both joined last year and how it has helped us grow and expand our businesses.  We share our experience in the Pursuing Her Purpose Mastermind and the inner workings of a mastermind group.This episode is also about the less glamorous side of entrepreneurship, like tax planning and bookkeeping. Ashley opens up about her strategies for managing these necessary evils and TAXES. Don't miss these insights from a fellow entrepreneur who's navigating business ownership with grace, humor, and an unwavering commitment to personal growth.Connect with Ashley!United She Stands PodcastKindventures TravelHere's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

In this episode we share invaluable strategies for auditing your expenses, setting achievable goals, and making smarter budget decisions. Join us as we share intimate details of our own financial adjustments, like reallocating funds from daycare to retirement savings, and the methods we use to keep our insurance costs in check.Ever considered that a simple change in how you manage your savings can revolutionize your budgeting routine? We share the new budgeting tool that's reshaped our financial approach, especially for those sporadic expenses that can derail the best of plans. Have you heard about our personal finance workbook—it's like having a financial coach at your fingertips. This isn't just another budgeting guide; it's a comprehensive companion, complete with worksheets, tailored email support, and accountability checks to ensure you're on the path to achieving your personal finance goals. Whether it's paying off debt or prepping for your golden years, we will provide you with the tools and strategies you need to take command of your finances.  Find our Personal Finance Workbook Here Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Are you tired of the stress and confusion that accompanies tax season? We say, no more! In this episode we're going to debunk some myths, like the unnecessary need for receipts, pinpoint potential audit red flags, and even share some insider tips on how to spend less on tax preparation fees. Get ready for a deep dive into the world of tax returns. We'll navigate through the common questions like 'Do I really need a CPA?' We'll also discuss about the different business due dates (Spoiler: It's April 15th for sole proprietorships and March 15th for partnerships/S corps). We'll clarify what NOT to file on your tax return if you want to avoid an audit with the IRS. Whether you're curious about the purpose of a K1 form, or are scratching your head about self-employment taxes, this episode explains it all. Don't forget about the discussion on filing tax extensions, and the importance of avoiding penalties by meeting those oh-so-crucial deadlines. So, if you're a business owner or an individual craving some tax guidance, sit back, relax and let us teach you everything your CPA wants you to know about tax time! Find the Tax Prep Checklist HEREHere's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Have you heard about the new Venmo tax reporting changes? We've got your back in this latest episode where we dive into the implications linked to Venmo usage. We explain the differences in IRS regulations for personal and business Venmo accounts. We also discuss the game-changing 1099K form, its purpose, and the circumstances under which it is issued to businesses. If you've been wondering what the Venmo changes will look like for your business and your tax situation, this episode is for you!Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Brace yourselves for another tax law change!This change will apply to any taxpayer who owes taxes when filing their tax return. That's a lot of people who need to know about this recent change!There is a new estimated tax penalty of 8%, which was only 3% in the past! Long story short, you're going to need to make those estimated tax payments and not wait to pay until when you file in April!We untangle this change, due to hit in Q4 2023, and its potential impact on entrepreneurs, contract workers, and those with rental or royalty incomes. We explain the penalty calculation using examples for a clearer understanding.Circling the dates on your calendars yet? Knowing your due dates is half the battle won, isn't it? And if you're a new business owner or planning to become one, this one's for you! We explain various methods to estimate your taxes and avoid this penalty. Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page

Ready to conquer depreciation? Did you know that bonus depreciation is set to decrease from 80% to 60%? But what does this mean for you and your business? We'll break it down and walk you through real-life scenarios ranging from the purchase of a new copy machine to buying a bulldozer for your construction business. By the end of this episode, you'll have a clear understanding of how to deduct the wear and tear of assets from your tax return, giving you more financial control and potentially saving you significant tax dollars. So sit back, relax, and let us guide you through the ins and outs of depreciation. Let's get started.Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!Our CPA firm website!Purchase our new business guide!Our Instagram PageOur family page