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Hey y’all! We’re so pleased you dropped in to check out our podcast and blog. If this is the first time you’ve been here, make yourself at home and enjoy!
In today’s podcast we are going to be speaking to some experts about the accounting and business aspects of selling digital products online.
We aren't experts so we thought we'd bring on a Josh and Courtney Bauerle from CPAonfire.com. They are going to be answering all your questions and a few on how they make running an online business work like:
How they met and how they balance working together from home every single day without killing each other
Why Courtney chose to be a stay at home mom
Should you hire a bookkeeper right off the bat or do it yourself
Should you pay yourself right away or wait, and which is best when it comes to tax season
What's the difference between an LLC and an S Corp, and which should you choose
How do you include Virtual Assistants when it comes to taxes
Whether or not you have to charge sales tax on digital products
Josh's top tips for those starting out
Courtney's number one tip for being in a relationship with an entrepreneur
Resources mentioned in this episode:
Quickbooks
Freshbooks
Josh's spreadsheet template
CPA on Fire
If you enjoy this podcast, we’d be so thankful if you’d leave us a review on iTunes! Click this link to leave a review on iTunes.
Can’t Miss Moments This Week
Each week Jocelyn and I share moments that we might have missed if we had not started our online business. We hope these moments inspire you to see the possibilities and freedom online business could provide for your family.
Last week we traveled to Portland, Maine to participate in the Agents of Change conference! It was a blast, and Portland was beautiful.
Transcript
SHANE: Welcome to the Flipped Lifestyle podcast, where life always comes before work. We’re your hosts, Shane and Jocelyn Sams. Join us each week as we teach you how to flip your lifestyle upside down by selling stuff online. Are you ready for something different? All right, let's get started. [spoiler title="Click to View Transcript"]
What’s up, guys? Welcome back to the Flipped Lifestyle podcast. We had a ton of email questions from you guys lately about a lot of different questions about online business and we’ve noticed a trend that many of them are about finances like business structure, bookkeeping, how to set up your online business, what you should do with that.
And a lot of those questions we haven’t emailed you back yet because we are not experts at those questions and in fact, we struggle with a lot of those questions like what’s tax deductible, how do we set up our business, how do we pay ourselves, things like that.
We have actually just hired accountants for ourselves because all of the business aspects of going online is very confusing. It’s so different than a brick and mortar business. We decided to bring on an expert or two and let them talk to you about the accounting aspect and the business aspect of internet marketing and selling digital products online.
We decided to bring on some experts today, people that deal with this kind of information every day in their business and kind of answer your questions about accounting and bookkeeping. Our guests today are Josh and Courtney Bauerle. You may know them as the CPAs behind John Lee Dumas’ Entrepreneur on Fire in his monthly income reports. Josh and Courtney, welcome to the Flipped Lifestyle podcast.
JOSH: Thanks for having us.
COURTNEY: Thank you.
SHANE: Let’s start with some more like, before we get into the accounting questions and all the questions from our audience, let’s talk more a little bit about you guys. Tell us a little bit about yourself and kind of how your business works what you do for a living?
JOSH: Yes, we live in a small town in Ohio.