With the end of the year coming to a close, you want to make sure that you have everything done correctly in your business, right?  One of the many important year-end tasks is to make sure that you are correctly paying and classifying wages.  There are many different entity types that businesses can be set up as and depending on how you’re your business is set up will determine how you pay yourself as a business owner, shareholder or officer, especially if you are considered an S Corporation.  In today’s podcast episode, I am covering the essentials of what you need to do when it comes to compensation, especially for the S Corporations who need to pay a reasonable compensation to officers and shareholder employees.  It doesn’t matter if you are using a computerized software system like QuickBooks, Xero, Wave or FreshBooks for your business finances, or if you are doing your bookkeeping manually with an Excel spreadsheet or even a Google Document, you need to make sure you are recording your payroll correctly.  Whether you are just getting started with your business, you are a self-employed individual, a solopreneur, entrepreneur, small business owner, remote virtual online bookkeeper, virtual assistant or VA, listen in so that you are aware of how to classify and pay your wages as a business owner and avoid one of the major red flags out there…
Apply to join the Mastering Your Small Business Finances CEO Mastermind or the Elevate Your Bookkeeping Business GROW Mastermind group:
www.FinancialAdventure.com/Mastermind
Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping:
www.FinancialAdventure.com/5Essentials
Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here:
www.FinancialAdventure.com/ADP
Looking for an extremely beneficial online bookkeeping resource?  Join us in our Mastering Your Small Business Finances Membership where you can ask questions and get answers regarding your specific business.  We dive deeper into the topics on this podcast, provide additional resources and accountability:
www.FinancialAdventure.com/MYSBF
Fill out the Contact Us form if you have a question or need help with your bookkeeping or payroll:
www.FinancialAdventure.com/Contact-Us
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path is waiting for you:
www.FinancialAdventure.com/StarterGuide
Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you:
www.FinancialAdventure.com/Discovery
Join Our Facebook Community:  www.Facebook.com/Groups/WomenBusinessOwnersUltimateDIYBookkeepingBoutique
Are you a bookkeeper looking to start, grow or scale your bookkeeping business?  Join our FREE bookkeeper community here:
www.FinancialAdventure.com/BookkeeperCommunity
QuickBooks Online - Save 50% Your First 3 Months:
www.FinancialAdventure.com/QuickBooks
Show Notes:  www.FinancialAdventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit www.FinancialAdventure.com for additional information and free resources.

63:  Determining Reasonable Compensation And S Corporation Requirements Whether You Are Starting A Business, You Are Self-Employed, A Solopreneur, Entrepreneur, Small Business Owner, Bookkeeper Or VA

Should I be doing my own bookkeeping and accounting?  Is QuickBooks the best software for me to use in my business, or is there another accounting software I should be using?  What’s the best way for me to process my payroll?  How can I track my money and cash flow?  How do I prepare for my business taxes?  What do my financial statements really mean? How can I bring my business to the next level? How can I grow my business?  What is the best way to create my business strategy? Should I start a side hustle? How can I add bookkeeping as an additional service as a Virtual Assistant? How can I start an online virtual bookkeeping business? And most importantly, how do I manage my small business finances? 

Welcome to Mastering Your Small Business Finances where we get straight to the point and answer all these questions and more.  Each episode is designed for you to take IMMEDIATE ACTION in your business so that you, as a busy entrepreneur, can gain the CONFIDENCE and CLARITY you need to make a successful impact on your business and GROW YOUR BOTTOM LINE.
 
Each week, host Chris Panek, Certified Public Accountant, Business Strategist and Business Coach, breaks down topics like finances, entrepreneurship, money management, leadership, bookkeeping, tax deductions, growth, side hustle, marketing, mindset and motivation into simple JARGON-FREE episodes.  One of her strengths is helping small business owners navigate and really understand these complicated topics for over 25 years.
   
Whether you are just starting your business or have an established business, you are in the right place.  If you are a bookkeeper or virtual assistant who wants to learn more about business finances to start, grow or scale your bookkeeping business, you too will benefit from this podcast.
  
Ready to Master Your Small Business Finances?  Listen in ~ your time will be well spent here!

This podcast is sponsored by Financial Adventure.  Visit www.FinancialAdventure.com for additional information and free resources.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

Management

Entrepreneurship

Hey there, I’m Chris Panek, Certified Public Accountant, Certified Coach, and the host of the Mastering Your Small Business Finances Podcast, and I want to welcome you to the fourteenth episode of a new series I’m doing on this podcast.  My intention is to drop one of these additional episodes every Monday while I continue to provide you with the regular Mastering Your Small Business Finances podcast episodes, which will continue to help you take control of and understand your business finances with topics that ultimately impact your bottom line.  I have many business owners, accountants, and other high-stress professionals who listen to this podcast, and I want to get more help out there for individuals like you when it comes to mastering your mindset.  I’ll be taking a few moments each week to touch on topics that many high-stress professionals are dealing with and provide solutions to help you increase your overall well-being.  Because I know your time is valuable, just like the Mastering Your Small Business Finances podcast, my goal is to keep these episodes short and straight to the point but full of useful information to help you succeed in not only your professional life but your personal life as well.
Learn about the Under Pressure:  Stress Management And Resilience Program here:
https://www.financialadventure.com/stress
I’m inviting you to sign up for the free private podcast where I do a deeper dive into this topic on the Mastering Your Mindset Moments podcast for high-stress professionals:
https://www.financialadventure.com/private
Find out how you can work with me by either scheduling a free consultation or signing up for the BALANCE Life Coaching program, where you can get private one-on-one coaching every week.  Find out where you’d like to see yourself and your business in the future.  We’ll create a laser-focused plan, including which action steps you need to take to get started on the path to success:
https://www.financialadventure.com/work-with-me
Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here:
https://www.financialadventure.com/accountant
Ready to set up your business?  I have a program I’m creating to help you get your business set up so that you can start making money.  Sign up for this program here:
https://www.financialadventure.com/start
Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You’ll have the opportunity to dip your toes in and see how you like coaching with an Introductory Coaching Session.  I’ll spend the whole time coaching you on anything you’d like coaching on in your business or your personal life:
https://www.financialadventure.com/intro
Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business:
https://www.financialadventure.com/profit
If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here:
https://www.financialadventure.com/sidehustle
Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping:
https://www.financialadventure.com/5essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You:
https://www.financialadventure.com/starterguide
Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique
The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here:
https://www.financialadventure.com/sba
Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here:
https://www.financialadventure.com/adp
QuickBooks Online - Save 30% Your First 6 Months:
https://www.financialadventure.com/quickbooks
Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you:
https://www.financialadventure.com/discovery
Show Notes:  https://www.financialadventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

206:  Practicing Constraint Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed

Whether you are a business owner or a bookkeeper, you’ve probably heard about automated bookkeeping.  Automated bookkeeping uses artificial intelligence, or AI, as well as machine learning to help speed up your bookkeeping tasks.  In today’s podcast episode, I dig deeper into what automated bookkeeping is and how you can start utilizing these practices in your business to be more efficient.  If you are already utilizing automatic bookkeeping, you know how much time it can save you, but make sure you are doing everything you can to ensure that your data is accurate.  I’ll cover how you can refine your processes and prepare yourself for the future so that you are taking advantage of all the benefits that come along with automated bookkeeping.  Whether you are a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, you know how time-consuming your bookkeeping can be.  Listen in so that you can learn how to let automated bookkeeping work for you so that your bookkeeping entries get made even when you are not working on it. These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…
Learn about the Under Pressure:  Stress Management And Resilience Program here:
https://www.financialadventure.com/stress
Find out how you can work with me by either scheduling a free consultation or signing up for the BALANCE Life Coaching program, where you can get private one-on-one coaching every week.  Find out where you’d like to see yourself and your business in the future.  We’ll create a laser-focused plan, including which action steps you need to take to get started on the path to success:
https://www.financialadventure.com/work-with-me
Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here:
https://www.financialadventure.com/accountant
Ready to set up your business?  I have a program to help you get your business set up so that you can start making money.  Sign up for this program here:
https://www.financialadventure.com/start
Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You’ll have the opportunity to dip your toes in and see how you like coaching with an Introductory Coaching Session.  I’ll spend the whole time coaching you on anything you’d like coaching on in your business or your personal life:
https://www.financialadventure.com/intro
Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business:
https://www.financialadventure.com/profit
If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here:
https://www.financialadventure.com/sidehustle
Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping:
https://www.financialadventure.com/5essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You:
https://www.financialadventure.com/starterguide
Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique
The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here:
https://www.financialadventure.com/sba
Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here:
https://www.financialadventure.com/adp
QuickBooks Online - Save 30% Your First 6 Months:
https://www.financialadventure.com/quickbooks
Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you:
https://www.financialadventure.com/discovery
Show Notes:  https://www.financialadventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

205:  Automate Your Bookkeeping Process Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Owner, Or Self-Employed

Hey there, I’m Chris Panek, Certified Public Accountant, Certified Coach, and the host of the Mastering Your Small Business Finances Podcast, and I want to welcome you to the thirteenth episode of a new series I’m doing on this podcast.  My intention is to drop one of these additional episodes every Monday while I continue to provide you with the regular Mastering Your Small Business Finances podcast episodes, which will continue to help you take control of and understand your business finances with topics that ultimately impact your bottom line.  I have many business owners, accountants, and other high-stress professionals who listen to this podcast, and I want to get more help out there for individuals like you when it comes to mastering your mindset.  I’ll be taking a few moments each week to touch on topics that many high-stress professionals are dealing with and provide solutions to help you increase your overall well-being.  Because I know your time is valuable, just like the Mastering Your Small Business Finances podcast, my goal is to keep these episodes short and straight to the point but full of useful information to help you succeed in not only your professional life but your personal life as well.
Learn about the Under Pressure:  Stress Management And Resilience Program here:
https://www.financialadventure.com/stress
I’m inviting you to sign up for the free private podcast where I do a deeper dive into this topic on the Mastering Your Mindset Moments podcast for high-stress professionals:
https://www.financialadventure.com/private
Find out how you can work with me by either scheduling a free consultation or signing up for the BALANCE Life Coaching program, where you can get private one-on-one coaching every week.  Find out where you’d like to see yourself and your business in the future.  We’ll create a laser-focused plan, including which action steps you need to take to get started on the path to success:
https://www.financialadventure.com/work-with-me
Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here:
https://www.financialadventure.com/accountant
Ready to set up your business?  I have a program I’m creating to help you get your business set up so that you can start making money.  Sign up for this program here:
https://www.financialadventure.com/start
Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You’ll have the opportunity to dip your toes in and see how you like coaching with an Introductory Coaching Session.  I’ll spend the whole time coaching you on anything you’d like coaching on in your business or your personal life:
https://www.financialadventure.com/intro
Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business:
https://www.financialadventure.com/profit
If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here:
https://www.financialadventure.com/sidehustle
Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping:
https://www.financialadventure.com/5essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You:
https://www.financialadventure.com/starterguide
Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique
The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here:
https://www.financialadventure.com/sba
Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here:
https://www.financialadventure.com/adp
QuickBooks Online - Save 30% Your First 6 Months:
https://www.financialadventure.com/quickbooks
Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you:
https://www.financialadventure.com/discovery
Show Notes:  https://www.financialadventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

204:  What Can You Control Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Business Owner, Or Self-Employed

You want to be able to rely on your financial statements so that you can make smart business decisions, but how do you get these accurate financial statements?  You need to account for all the money coming in and going out of your business.  You need to ensure that you have all your entries in your business recorded.  You need to make sure that you are doing your bookkeeping correctly to have those accurate financial statements you can rely on.  In today’s podcast episode, I’m covering how you can be confident you are doing your bookkeeping correctly so that you can rely on your financial statements.  Whether you are a self-employed individual, a solopreneur, entrepreneur, mompreneur, freelancer, small business owner, a remote, virtual, online, or in-house bookkeeper, or a virtual assistant or VA, reviewing your financial statements, which include your balance sheet and income statement every month is essential to running your business.  These tips are essential whether you are using a computerized software system like QuickBooks, Xero, Wave, or FreshBooks for your business finances; or doing your bookkeeping manually with an Excel spreadsheet or even a Google Document…
Learn about the Under Pressure:  Stress Management And Resilience Program here:
https://www.financialadventure.com/stress
Find out how you can work with me by either scheduling a free consultation or signing up for the BALANCE Life Coaching program, where you can get private one-on-one coaching every week.  Find out where you’d like to see yourself and your business in the future.  We’ll create a laser-focused plan, including which action steps you need to take to get started on the path to success:
https://www.financialadventure.com/work-with-me
Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here:
https://www.financialadventure.com/accountant
Ready to set up your business?  I have a program to help you get your business set up so that you can start making money.  Sign up for this program here:
https://www.financialadventure.com/start
Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You’ll have the opportunity to dip your toes in and see how you like coaching with an Introductory Coaching Session.  I’ll spend the whole time coaching you on anything you’d like coaching on in your business or your personal life:
https://www.financialadventure.com/intro
Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business:
https://www.financialadventure.com/profit
If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here:
https://www.financialadventure.com/sidehustle
Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping:
https://www.financialadventure.com/5essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You:
https://www.financialadventure.com/starterguide
Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique
The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here:
https://www.financialadventure.com/sba
Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here:
https://www.financialadventure.com/adp
QuickBooks Online - Save 30% Your First 6 Months:
https://www.financialadventure.com/quickbooks
Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you:
https://www.financialadventure.com/discovery
Show Notes:  https://www.financialadventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

203:  Building Confidence In Your Bookkeeping Skills Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, Virtual Assistant, Or Owner

Hey there, I’m Chris Panek, Certified Public Accountant, Certified Coach, and the host of the Mastering Your Small Business Finances Podcast, and I want to welcome you to the twelfth episode of a new series I’m doing on this podcast.  My intention is to drop one of these additional episodes every Monday while I continue to provide you with the regular Mastering Your Small Business Finances podcast episodes, which will continue to help you take control of and understand your business finances with topics that ultimately impact your bottom line.  I have many business owners, accountants, and other high-stress professionals who listen to this podcast, and I want to get more help out there for individuals like you when it comes to mastering your mindset.  I’ll be taking a few moments each week to touch on topics that many high-stress professionals are dealing with and provide solutions to help you increase your overall well-being.  Because I know your time is valuable, just like the Mastering Your Small Business Finances podcast, my goal is to keep these episodes short and straight to the point but full of useful information to help you succeed in not only your professional life but your personal life as well.
Learn about the Under Pressure:  Stress Management And Resilience Program here:
https://www.financialadventure.com/stress
I’m inviting you to sign up for the free private podcast where I do a deeper dive into this topic on the Mastering Your Mindset Moments podcast for high-stress professionals:
https://www.financialadventure.com/private
Find out how you can work with me by either scheduling a free consultation or signing up for the BALANCE Life Coaching program, where you can get private one-on-one coaching every week.  Find out where you’d like to see yourself and your business in the future.  We’ll create a laser-focused plan, including which action steps you need to take to get started on the path to success:
https://www.financialadventure.com/work-with-me
Accountants, CPAs, Bookkeepers, Tax Preparers & Financial Professionals, sign up here to get updates on upcoming opportunities & grab the Audit Of Your Well-Being & Balance Guide here:
https://www.financialadventure.com/accountant
Ready to set up your business?  I have a program I’m creating to help you get your business set up so that you can start making money.  Sign up for this program here:
https://www.financialadventure.com/start
Are you ready to try coaching?  Schedule an Introductory Coaching Session today.  You’ll have the opportunity to dip your toes in and see how you like coaching with an Introductory Coaching Session.  I’ll spend the whole time coaching you on anything you’d like coaching on in your business or your personal life:
https://www.financialadventure.com/intro
Join us in the Mastering Your Small Business Finances PROFIT LAB if you are ready to take control of your business finances and create the profitable business you are striving for.  Are you ready to generate revenues and increase the profit in your business:
https://www.financialadventure.com/profit
If You Are Ready To Choose, Start Or Grow Your Side Hustle, Get Your Free Checklist And Assessment Here:
https://www.financialadventure.com/sidehustle
Grab Your FREE guide:  5 Essential Strategies For Stress-Free Bookkeeping:
https://www.financialadventure.com/5essentials
Your FREE Online Virtual Bookkeeping Business Starter Guide & Success Path Is Waiting For You:
https://www.financialadventure.com/starterguide
Join Our Facebook Community:  https://www.facebook.com/groups/womenbusinessownersultimatediybookkeepingboutique
The Strategic Bookkeeping Academy, including Bookkeeping Basics, is open for registration!  You can learn more and sign up here:
https://www.financialadventure.com/sba
Looking for a payroll solution for your business?  You can get an exclusive 15% discount on your payroll services when you sign up here:
https://www.financialadventure.com/adp
QuickBooks Online - Save 30% Your First 6 Months:
https://www.financialadventure.com/quickbooks
Sign up for a virtual coffee chat to see if starting a Bookkeeping Business is right for you:
https://www.financialadventure.com/discovery
Show Notes:  https://www.financialadventure.com
This podcast is sponsored by Financial Adventure, LLC ~ visit https://www.financialadventure.com for additional information and free resources.

202:  How Do You Know If You Are Making The Right Decisions Whether You Are Starting A Business Or Side Hustle, A Solopreneur, Entrepreneur, Mompreneur, Freelancer, Bookkeeper, VA, Owner Self-Employed

Mastering Your Small Business Finances ~ Money Management, Bookkeeping, Entrepreneurship, Side Hustle, Accounting, Cash Flow, Solopreneur, Strategy, Tax, Virtual Assistant Marketing Mindset QuickBooks

63: Determining Reasonable Compensation And S Corporation Requirements Whether You Are Starting A Business, You Are Self-Employed, A Solopreneur, Entrepreneur, Small Business Owner, Bookkeeper Or VA

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