Fundamental Entrepreneur

There are many compliance related activities we need to perform as a business owner. Yes, they are not the "sexy" side of being an entrepreneur; however, they are critical. Business filings imposed by federal, state, and local governments is one of those not so fun compliance activities. Failing to file these business filings can result in significant and often costly consequences.

In this episode, we discuss the filing requirements, documents to file, and deadlines for 5 different categories of business filings, including:

Payroll tax filings - W2s, Form 941, Form 940, and state withholding tax filings

Subcontractor filings - 1099 filings

State Annual Report

Income Tax Filings - Partnerships, LLCs, S-Corporation, Corporation, and Individual tax filings

Sales Tax Filings

We also discuss what it means to extend an income tax return...HINT: it is an extension of time to file and NOT an extension of time to pay.

Worried about missing a filing or wondering how you can remember all the important deadlines? Well, listen in as we discuss some of the best practices you can use.

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You have heard us talk about Profit First and why we choose to become Profit First professionals. But are you wondering what Profit First is all about? Why we think it is so awesome? And how it will benefit you and your business?

Well, in today's episode we are joined by Ean Price Murphy, founder of Moxie Bookkeeping (and a Profit First Professional), to answer all these questions and so much more. Ean has been using Profit First with her clients for many years and understands the power this amazing system can bring to any business. She describes Profit First as "Grandma's envelope system" where you give every dollar a job and then give every dollar a home.

Ean not only shares her personal experience of why she was drawn to the Profit First system, she also shares how Profit First will bring confidence and clarity to you as business owner, empowering you to achieve greater success in your business.

Are you wanting to know when is the right time to start using Profit First?

Ready to gain more financial clarity and be intentional with your cash flow?

Want to know why you should implement Profit First, even if your business cash flow is strong?

Listen in as Ean dives into each of these questions and explains the successes she has seen as her clients have implemented Profit First in their businesses.

More about Ean

A personal bankruptcy in her mid-twenties was a brutal way to learn she didn’t understand money.

She had grown up hearing “work hard and you will succeed” and she had to learn the hard way that passion and frugality weren’t enough if she wasn’t able to determine her own wages. She didn’t have the financial literacy to read the warning signs that read Dead End until it was too late. So, she started Moxie Bookkeeping.

Today, Ean brings compassion and flair to teaching the Profit First cash management system to help purpose-driven entrepreneurs get at-a-glance financial clarity. Over more than 20 years, Ean has helped more than 10,000 small businesses and non-profits simplify their bookkeeping, get the most out of every dollar, and become profitable.

Ready to Connect with Ean

https://moxiebookkeeping.com/ (https://moxiebookkeeping.com/)

https://www.facebook.com/MoxieBooks (https://www.facebook.com/MoxieBooks) @MoxieBooks

https://www.instagram.com/moxiebookkeeping/ (https://www.instagram.com/moxiebookkeeping/)

https://www.linkedin.com/company/moxiebookkeeping/ (https://www.linkedin.com/company/moxiebookkeeping/)

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Entrepreneurship is an exciting and rewarding journey; however, it is also a journey that can be filled with risks. One of the ways to mitigate this risk and the financial exposure these risks can place on our business is through insurance.

In today's episode, we are joined by Steve Sargent, who is the founder of Sargent Insurance Group. Insurance can be a hot topic for many and some may even question the need to have insurance in their business. Steve brings a wealth of knowledge and experience to this episode to discuss many important aspects of insurance, including:

Why businesses and business owners need insurance

Types of insurance to consider and the risk protection it provides

What business owners fail to consider as it relates to insurance

Things to consider when buying (shopping for insurance)

Red flags with insurance agents and insurance companies

Steve is a fellow entrepreneur so he understands the thrill of the entrepreneurial journey. However, he is also too familiar with the risks we entrepreneurs can be exposed to each day. Listen in as he share his prospective and insights on the ins and outs of business insurance. You never know, he may just help you see insurance in a whole new way.

Need to understand the rating of insurance company you are considering doing business with? Check out: https://tinyurl.com/22mexack (https://tinyurl.com/22mexack)

More about Steve

Steve thrives on developing long term relationships with his clients and ensuring that the protection provided is appropriate for their situation. He specializes in life, commercial and farm/ranch insurance and is licensed in all lines of insurance. Steve loves spending time with his family in the outdoors and enjoys water/snow skiing, fishing, and adventure racing.

Contact Steve and his amazing Team at Sargent Insurance Group by:

Phone: 208-392-1721

Web: www.sargentgrp.com

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The life blood of every business is CASH!!! Without cash a business suffers. With cash businesses can thrive. However, cash doesn't always equate to success. Business owners need to understand the cash flow of their business to ensure long-term liquidity and success.

Listen in as Darin and Dannielle take a deep dive into cash flow and discuss what every business owner needs to focus on when it comes to cash flow.

Darin and Dannielle discuss the following:

The need to understand where cash is coming from - this is more than just understanding what products and services you are selling, it's understanding your customers and what is affecting their ability to buy your product.

Knowing your cash outflows - making the money is great but do you know how much of your hard earn money is leaving and where it is going. This requires more than just working hard and hoping there is money in the bank at the end of the year. Challenge the necessity of each expense!!!

Understanding what your business truly made - bring in $100,000 or $1 million in revenue is amazing but do you, as the business owner, truly know what profit (i.e. what cash you have after expenses) your business is generating.

Being intentional with your cash flow is critical to managing your cash, maintaining a strong cash flow, and ensuring you are generating the profit you want.

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Sometimes life’s hurdles can stop us dead in our tracks but what we decide to do in those moments define the person we will become. On this segment of “This is Their Story”, we are joined by Dr. Dusya Lyubovskaya who is the founder of Dusya’s Miracle Healing and is a leader in ancient holistic modalities. Dr Dusya emphasizes the need for us to connect with our inner child as she firmly believes that every issue we face as adults is affected by what we learned as a child.

Dr. Dusya has used her journey to become a spiritual life coach and mentor. Using her background in western medicine as well as science, she loves to combine her passion for science with energy healing so we can help her clients regain their power and discover who they truly are along with their passions allowing them to create abundance in their lives; whether in business, relationships and or life overall.

Here is more about Dr. Dusya:

Dr. Dusya’s journey started when she was young growing up with an abusive father. Her trauma caused her to develop health issues that doctors could not clearly diagnose. She become passionate about science at this young age and pursued a career in the medical field. During her work taking care of patients she realized there was more than western medicine could offer.

However, she felt she was running into walls . Dusya took care of both of her parents through their struggle with terminal cancer and knew that she could at least ease their suffering with holistic modalities she learned about growing up. After her mother’s passing in 2014, she discovered meditation and Reiki and a brand new world opened to her full of opportunities! She got trained in Reiki and began incorporating it into her medical clients healing. She would perform energy healing on and off on the side and in 2018 with additional trainings became a holistic life coach as her clients around the world greatly appreciated her positive energy and experience.

Dusya has also evolved in her medical career and started speaking for health care agencies as well as government agencies seeking her advice and expertise . Dusya discovered that many chronic health issues in her clients was caused by trauma so she used her western medicine knowledge, combined with ancient healing modalities and has created very successful healing journeys for her clients.

Meanwhile Dusya has expanded to helping entrepreneurs who are struggling making more than 5k by helping them increase their money mindset and helping them get unstuck by helping them with inner child soul retrieval and helping them reconnect with their inner child.

No idea what Reiki is? It is an energy-based method of treatment, originating from Japan, designed to relieve conditions and promote healing. The healer uses his or her hands to activate the person´s life force energy and kick start its flow, solving energy blockages that cause disease or mental illness.

Learn more about how Dr. Dusya and her spiritual healing techniques checkout:

http://dusyasmiraclehealing.com/dusya (http://dusyasmiraclehealing.com/dusya)

https://www.facebook.com/dusya.lyubovskaya777 (https://www.facebook.com/dusya.lyubovskaya777)

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We have all seen a dog wag its tail, right? Well, have you ever seen the tail wag the dog? Of course not! The wagging of the tail is controlled by the dog rather than the tail controlling the dog.

However, in business there is a phenomenon we have observed that takes place way too often...we call it "the tax tail wagging the dog". What do we mean by this? It is the mindset many business owners have where they make a business decision based solely on the possible tax implications. Such a narrowed minded and limited focus in business will often result in making a decision that rarely improves efficiencies, cuts costs, or increases cash flow. Profits suffer all because the sole focus is on taxes. Hence, the tax tail is wagging (or controlling) the dog (your business), when it should be the other way around.

In this episode, Darin discusses why entrepreneurs need to avoid "the tax tail wagging the dog" mindset and focus on a more holistic approach when making business decisions.

Darin peels back the complicated layers of the tax code and walks through a simple example of how your tax liability is calculated. He then explains why spending money just to save taxes is a poor decision...decreasing cash flow more than just paying your tax liability.

He outlines four strategies that will help all business owners lower their tax liability, prepare for tax day, and ensure cash-flow (remember "Cash is King") is not being negatively impacted.

Consider this question Darin asks as you listen to these episode:

"Did you go into business to make a ton of money or to never pay any taxes?"

To access the scenarios Darin mentions in the podcast go here: LINK COMING SOON

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We have been hinting at changes coming for the last few months...and now the changes are finally here. Listening in as we discuss these changes, which include a rebrand, name change, and an exciting new service offering called Profit First.

In this episode, we discuss the reasons why we are making these changes and why becoming Profit First Professionals will allow us to better serve YOU! are fellow entrepreneurs. Profit is what everyone hopes to make when they start a business, right? It is the fruit you want to harvest after all your hard work.

As Profit First Professionals, we can now help you see and enjoy this fruit in a whole new way...even from the first day you start your business.

Listen in as we explain what the Profit First system is all about and why we feel this will be a game changer to so many entrepreneurs.

We are excited for what these changes will bring. It has been a long few months as we have been researching and working to bring these changes to you.

Don't worry, this Podcast will remain the same. Once a month, we will continue to bring on fellow entrepreneurs to share their stories as part of our "This Is Their Story" segment. The stories of fellow entrepreneurs we have had on the show already have truly been motivating and inspiring. We also plan to continue to discuss educational and fundamental aspects of entrepreneurship each month.

Plus, our online training course the "Business Startup Blueprint" is still available for anyone looking for business training on how to successfully launch a new business. The only thing that will be different is the price...we are working on a way to make it more affordable because we know starting a business costs money and requires some fundamental knowledge. We can provide the knowledge but we don't want the cost to obtain this knowledge to drain that precious financial reserve you need to start your business. Thus, we are lower the price. MORE TO COME ON THIS!!

Finally, thank you for being a part of this podcast. We have enjoyed bring this content to you every month and look forward to bring additional content to you for months to come.

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We all dream about taking a passion and turning it into a business. On this segment of “This is Their Story”, we are joined by Parker Kane, the founder of Parker Kane LLC. Parker is a firm believer in the “more we pursue what we are passionate about, the more we pursue what we are called to, [then] the more we discover passions that we would never understand…or discover.” These passions can then lead to entrepreneurial opportunities.

For Parker, this journey began with learning how to beatbox at the age of 9. The success Parker gained from pursuing beatboxing helped him discover a new passion for speaking, which then lead to his passion for podcasting and podcast creation. All these passions are now service offerings Parker provides to his clients at Parker Kane LLC.

Parker shares his experience with dealing with depression and how this obstacle has changed his motivation from a focus on himself to how his talents and business services are helping to change the lives of others.

This episode is yet another amazing segment of “This is Their Story” filed with an amazing entrepreneur’s story and advise that will benefit any entrepreneur in their journey.

Here is more about Parker:

Parker Kane is an American beatboxer, musician, speaker, and podcast host. He is notorious for his viral videos beatboxing with a McDonald’s cup and his podcast UPBEAT with Parker Kane.

One of his videos, “McDubstep,” which was cleverly titled by the commenting viewers, has now been seen over 1 billion times on Facebook. After his video went viral, he was then featured in his very own official McDonald’s commercial.

Parker has since appeared on many different TV shows including Outrageous Acts of Science, America’s Got Talent, Ridiculousness, and the Steve Harvey Show. He’s also been featured in many online articles from MTV, Huffington Post, DailyMail, and more.

Parker has delivered powerful speeches and beatbox performances for high-end people and organizations like Shark Tank’s Daymond John, TEDx, and McDonald’s. He continues to bring his message and story to stages and podcasts around the country.

To find out more about Parker check out: https://parkerkane.co/ (https://parkerkane.co/)

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Your Idea Could Be the Next Successful BusinessYou have a great idea that could lead to more financial freedom, wealth, and happiness in your life.

You don’t need a degree in business to be a successful entrepreneur. You don’t need to know everything to get started. You need your idea, a basic road map, and a bit of education to start the ball rolling to achieve the financial and personal goals you have always wanted for yourself and family.

Your education can start for free by going to http://www.startupempowered.com (www.startupempowered.com). As you invest time into this free training, you will gain the knowledge and enthusiasm you need to start your own business because you will now have a road map showing you the exact steps you need to follow to take your business from an idea to realty.

Get started today at http://www.startupempowered.com (www.startupempowered.com)

CHECK US OUT AT http://www.acent101.com (www.acent101.com)

We are excited to bring you another segment of “This is Their Story”. Today, we are joined by image consultant Pam Friedlander who is the founder of Positive Reflections. The foundation for Positive Reflections began when Pam provided dress and image help to fiends getting married and going on a blind date. Encouraged by her friends to start a business, Pam launched Positive Reflections in 2006.

As Pam shares her story, she provides some great insight into the power of networking and how it can help an entrepreneur grow their business. She also discusses why it is important to be adaptable as an entrepreneur and finding the right people/resources to help you be successful.

Pam’s advice to her fellow entrepreneurs is “Not to give, keep finding another avenue…if one thing is not working”.

Need some fashion and image tips? Pam shares a few things to consider.

Here is a little bit more about Pam:

Pam Friedlander was a successful businesswoman and entrepreneur for 30 years before she founded Positive Reflections in 2006. Her passion is to help women feel confident and find their own Positive Image while looking in the mirror.

Pam’s philosophy is that anyone can look beautiful at any size, any age, anytime. By learning to select clothing and accessories that suit personality, body type and lifestyle, one can create a new, beautiful

vision of themselves. Pam is a firm believer that successful dressing is a skill that anyone can learn. She uses her expertise to help her clients develop their own personal style.

Clients who work with Pam are usually experiencing a transition in their life, such as, new mom, transitional age, new career, weight loss, and newly single. Pam encourages her clients to see their individual beauty and strength. Women find the process professional, stress-free, and enlightening.

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Ready to up level your image and created positive reflections? Contact Pam at:

Web: https://posreflections.com/ (https://posreflections.com/)

Phone: 203-733-9328

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Your Idea Could Be the Next Successful BusinessYou have a great idea that could lead to more financial freedom, wealth, and happiness in your life.

You don’t need a degree in business to be a successful entrepreneur. You don’t need to know everything to get started. You need your idea, a basic road map, and a bit of education to start the ball rolling to achieve the financial and personal goals you have always wanted for yourself and family.

Your education can start for free by going to http://www.startupempowered.com (www.startupempowered.com). As you invest time into this free training, you will gain the knowledge and enthusiasm you need to start your own business because you will now have a road map showing you the exact steps you need to follow to take your business from an idea to realty.

Get started today at http://www.startupempowered.com (www.startupempowered.com)

HAVE A QUESTION? Email us at [email protected]

CHECK US OUT AT http://www.acent101.com (www.acent101.com)

Wondering what is the proper way to take out money from your business as an owner? Trying to decide if this is the right time to start your new business, given the current economic situation?

We have the answers to these listener questions and so much more as Everyday Joe joins us for another QandA session. We even discuss why we haven’t been posting episodes each week and provide some additional insight into the new things we are working on.

Join us for another awesome QandA session with Everyday Joe.

Have a question that you want answered? Send them to us at: [email protected]

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Your Idea Could Be the Next Successful BusinessYou have a great idea that could lead to more financial freedom, wealth, and happiness in your life. You don’t need a degree in business to be a successful entrepreneur. You don’t need to know everything to get started. You need your idea, a basic road map, and a bit of education to start the ball rolling to achieve the financial and personal goals you have always wanted for yourself and family.

Your education can start for free by going to http://www.startupempowered.com (www.startupempowered.com). As you invest time into this free training, you will gain the knowledge and enthusiasm you need to start your own business because you will now have a road map showing you the exact steps you need to follow to take your business from an idea to realty.

Get started today at http://www.startupempowered.com (www.startupempowered.com)

CHECK US OUT AT http://www.acent101.com (www.acent101.com)