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33. Let's Talk Numbers! Accounting 101
Getting a grip on your finances so you can boss up is probably the last thing an entrepreneur does.
In today’s training we discussed the following topics
Receipts - keep the receipts of places that will raise questions on what it was for. I.e. meals, superstores (Walmart, Ikea, Costco) Sephora, and Nordstrom don’t count.
Co-mingling- keep your shit separate. When you spend money from your biz for personal you pierce the veil of protection in the case of an audit or lawsuit.
Cash flow- cash is QUEEN baby! This is probably the biggest struggle new entrepreneurs have. They don’t know how or spend the time needed to manage their cash flow and without cash your DEAD!
Tax planning- planning for taxes means more than just putting money aside. It means ensuring you have maxed out all your opportunities for deductions and ensuring you aren’t slapped with a tax bill you can’t afford. This makes you owe a ton and need to pay higher estimates quarterlies! It’s an avalanche that just grows if you lose grip. [TRUST ME…I KNOW]
Let's BE FRIENDS:
check out the awesome people in the tribe @femaleinsuranceagencyowners
UYB INSTAGRAM: Come check out some awesome resources @unburden_your_business
AGENCY BY DESIGN: If you're ready to take your business from stressed out/maxed out to a money making machine, come check out Agency By Design! https://www.unburdenyourbusiness.com/signup
FACEBOOK GROUP: Come join our facebook group. A safe space for Female Insurance Agency Owners to connect.https://www.facebook.com/groups/femaleinsuranceagencyowners
Girl, make sure to say hi in the DMs I am all about getting to know more about you! Check out more information about the topics in this episode Sign up to get notified of future episodes. We send you an email only once a week with a roundup of the topics for the week. There will also be bonuses and exclusive access only for those that sign up. Trust me…you want this. :P
Access trainings, tools, and bonuses ONLY available here for FREE!So glad you’re here, Cassidy
View all episodes
By Cassidy Arbeli
5
4343 ratings
Getting a grip on your finances so you can boss up is probably the last thing an entrepreneur does.
In today’s training we discussed the following topics
Receipts - keep the receipts of places that will raise questions on what it was for. I.e. meals, superstores (Walmart, Ikea, Costco) Sephora, and Nordstrom don’t count.
Co-mingling- keep your shit separate. When you spend money from your biz for personal you pierce the veil of protection in the case of an audit or lawsuit.
Cash flow- cash is QUEEN baby! This is probably the biggest struggle new entrepreneurs have. They don’t know how or spend the time needed to manage their cash flow and without cash your DEAD!
Tax planning- planning for taxes means more than just putting money aside. It means ensuring you have maxed out all your opportunities for deductions and ensuring you aren’t slapped with a tax bill you can’t afford. This makes you owe a ton and need to pay higher estimates quarterlies! It’s an avalanche that just grows if you lose grip. [TRUST ME…I KNOW]
Let's BE FRIENDS:
check out the awesome people in the tribe @femaleinsuranceagencyowners
UYB INSTAGRAM: Come check out some awesome resources @unburden_your_business
AGENCY BY DESIGN: If you're ready to take your business from stressed out/maxed out to a money making machine, come check out Agency By Design! https://www.unburdenyourbusiness.com/signup
FACEBOOK GROUP: Come join our facebook group. A safe space for Female Insurance Agency Owners to connect.https://www.facebook.com/groups/femaleinsuranceagencyowners
Girl, make sure to say hi in the DMs I am all about getting to know more about you! Check out more information about the topics in this episode Sign up to get notified of future episodes. We send you an email only once a week with a roundup of the topics for the week. There will also be bonuses and exclusive access only for those that sign up. Trust me…you want this. :P
Access trainings, tools, and bonuses ONLY available here for FREE!So glad you’re here, Cassidy