Get ready to tackle the year-end with confidence! In this episode, I'm here to guide you on preparing for a successful year-end. I'll walk you through crucial aspects of financial management, from handpicking the perfect tax professional to forging a comfortable and efficient working partnership. We'll also dive into decoding the significance of year-end dates and unlocking the power of financial forecasting. You'll learn how to analyze your income and expenses to estimate year-end financials for strategic tax planning. These are just a sneak peek of the eight critical tax tips I've got in store for small business owners as we gear up for the grand finale of 2023. Don't miss out on the full episode to supercharge your year-end strategies and finish 2023 STRONG! 💪🏽

Links:

This episode of "Beyond the Receipts" (Small Business Tax & Finances) is all about a topic that's about to sizzle in a few months, and we're here to provide you with a two-month head start for the sizzle-fest. We're talking about the nitty-gritty of reporting payments to independent contractors or navigating the labyrinth of the 1099-NEC (Nonemployee Compensation) form. You see, many small business owners might not be losing sleep over it right now, mainly because they're in the throes of closing out the year. However, it's time to give you the lowdown, straight from a fellow business owner's perspective, especially if you're a rookie in the entrepreneurial arena.

Links:

Join us in this episode of the Beyond the Receipts podcast as we discuss the different types of business entities you may be considering for your business.  We’re pulling back the curtain on some of the key legal and tax implications of each structure that sometimes advisors don't always take the time to explain clearly.

The truth is most entrepreneurs have confusion on how to choose between remaining a sole proprietor or when to become a LLC, S-Corp, C-Corp or other entities. Unfortunately, the wrong choice can lead to personal liability, extra taxes, and tons of compliance headaches.

We’ll discuss an overview of how the (4) popular entity types operate so you’re more informed as you’re making your choice as a business owner.  Also some of the pros and cons of each.

Remember, whether you're just starting out or scaling your business, it’s always a good idea to seek legal and tax advice when making this crucial decision for your business.

Links:

Scenario ... You filed an individual tax extension back in April and you forgot about it until you got that call or email from your tax preparer reminding you the October 16th deadline is coming up!  What’s your next step going to be and are you ready to file!?

If this scenario sounds like you and you’re stumped on what filing that tax extension really meant, let’s talk about it.

Join us on the latest Beyond the Receipts episode as we dive into the nitty-gritty details of filing tax extensions.  I’ll be discussing some of the lesser-known aspects and common misconceptions many taxpayers get wrong.  We’ll also be discussing how even when you file an extension that the possibilities of penalties and interest still exist on any unpaid tax.  Learn more on how to minimize these after filing your extension.  

Links:

In this episode of Beyond the Receipts, we're exploring the essential topic of paying yourself as a sole proprietor or single member LLC. I've seen all kinds of jacked up ways that business owners do to find a way to pay themselves from their business, and we want to set you up for success! We’ll talk about the importance of timing when paying yourself, ways to pay yourself properly, and the fact that owner's draws are not considered business expenses! 

Links:

In this episode of Beyond the Receipts, we're diving into a crucial topic for entrepreneurs – ESTIMATED TAXES. Join me as we tackle the confusion around these payments, understand the Safe Harbor Rule, and discover smart strategies to stay on top of your taxes. Don't let estimated taxes catch you off guard – listen now to empower your business and stay compliant!

Links:

In this episode of Beyond the Receipts, we’ll discuss the journey of moving from part-time to full-time entrepreneurship. We talk about key financial steps to consider such as assessing stability, validating your business idea, and building a financial buffer. Whether making the decision to move now or later make sure to keep your "why" – your driving motivation – in mind, especially during tough times. You got this entrepreneur thing! And don't forget to operate your business Beyond the Receipts.

Links:

In this episode, I tackle the common issue of small business owners drowning in their financial data. I also stress the importance of consistent record-keeping throughout the year, not only for business management but also to ease the tax season crunch. Lastly, talk about some of the game-changing benefits of utilizing modern technology for financial management in the business.

Links:

Resources:

Welcome to Beyond the Receipts! I thought it would be fair as we're starting off this new podcast, to give listeners a little insight of why I selected the name, Beyond the Receipts. I also want to set the expectations so listeners can know what to expect as you join us on this journey to think beyond the receipts in your own business. Let's get started.

Links:

So you've always wanted to be an entrepreneur, but no one told you that tax and bookkeeping were going to be part of running your own business. Well, fear not. I'm Hope Brown, and this is Beyond the Receipts, a podcast for small business owners who are in the early stages of building their business but need a little help with the financial part. We'll be breaking down financial topics like taxes, bookkeeping, and more, in plain English so that you can learn what you need to run your business and stay compliant. So are you ready? Stay tuned!

Links: