In today's episode, Shannon delves into the intricacies of bonus depreciation and the often-overlooked aspect of depreciation recapture. This episode aims to demystify these terms and explain why they might be more about tax deferral than tax elimination. Listeners will gain a clear understanding of how these deductions can impact them, particularly when it comes to selling a business or its assets. Through actionable tips and in-depth insights, Shannon empowers entrepreneurs to make informed decisions about managing their assets and optimizing their tax strategies. Tune in to make the financial side of your business a bit more enjoyable and comprehensible. What you'll hear in this episode:05:34 Consult your tax advisor before selling assets.

06:47 Discuss depreciation recapture impact with tax professional. If you like this episode, check out: The Truth About IRS Agents and Getting Audited

End-of-Year Financial Prep: Three Essential Steps for Business Owners

The Truth About Tax Savings and Strategies Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Welcome to a special replay episode of Keep What You Earn! Today, we’re thrilled to share an engaging conversation from the CEO Glow Show, where our very own Shannon Weinstein joins host Sheila Bella for an eye-opening discussion. Titled "Shannon on CEO Glow Show with Sheila Bella Final," this episode features Shannon’s personal journey and her expert insights on financial empowerment for entrepreneurs. Sheila dives into Shannon’s strategies for overcoming financial intimidation, unpacking the true nature of money, and transforming traditional views of the accounting profession. Shannon shares valuable advice on navigating the IRS, managing business setbacks, and the critical importance of separating personal and business finances. Together, they debunk stereotypes about accounting and explore how to cultivate a "pretty rich life" filled with stability and abundance. Tune in for actionable tips and enlightening perspectives from two powerhouse women dedicated to making financial concepts accessible to all.  Sheila Bella is a renowned entrepreneur who built a million-dollar microblading business in just three years. Despite the success of her two Beverly Hills locations and hosting a 400-person live event, Sheila faced a devastating loss in March 2020, losing it all overnight. Determined to rebuild, she borrowed money to hire a business coach and, within six months, launched her second multi-million dollar venture: the online mentorship program Pretty Rich Bosses. 

Through Pretty Rich Bosses, Sheila has empowered thousands of beauty entrepreneurs to scale their businesses to multiple six and seven figures. Her mission is to help others achieve financial independence and create wildly successful beauty businesses, enabling them to live life on their own terms. 

Website: https://www.sheilabella.com/  

CEO Glow Show Podcast: https://podcasts.apple.com/ca/podcast/ceo-glow-show/id1431091834 

Social Profiles: @realsheilabella   What you'll hear in this episode: 06:05 Clients ensured confidentiality, professionals maintain discretion. 

09:05 Separate personal and business finances for success. 

12:38 Tax avoidance is legal, tax evasion isn't. 

13:28 Master the tax code, play by rules. 

16:49 Wealth enables choices; can be beneficial. 

21:59 Shannon excels in accounting; needs to teach. 

26:10 Communicate with IRS; don't ignore payment issues. 

29:18 IRS workers enforce tax laws, not exploit. 

30:16 Successful business owners take calculated financial risks. 

33:01 Measure profit by cutting costs, boosting revenue. 

36:20 Hire a bookkeeper first, then elevate services.  If you like this episode, check out: My Most Expensive Mistakes 

How Living in Costa Rica Changed My Mindset 

What Taylor Swift Taught Me About Business  Want to learn more so you can earn more? Transform your small business journey – download the Small Business $tarter Kit here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

Today, Shannon delves into the transformative latter half of 2024. This period marked immense growth for Shannon, not just in business metrics but also in mindset. She will discuss the pivotal moments that catalyzed this evolution and how embracing new influences and mentors can propel you to the next level. For anyone feeling stuck or in a content rut, this episode serves as a sign to switch things up and challenge yourself anew.  What you'll hear in this episode: 05:33 Diversify focus areas to maintain impactful growth. 

07:47 Evaluate and update influences for continued growth.  If you like this episode, check out: Essential Phases in Selling Your Business  

Become the Director, Not the Lead Actor  

The Best Way to Get Out of a Business Funk  Want to learn more so you can earn more? Join Gusto today and get a $100 Visa Gift Card Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

Today’s episode delves into the power of choosing an annual theme word to guide the year ahead. Shannon shares how this practice has profoundly impacted both her personal and professional life, leading to achievements in prosperity, ownership, and simplified processes. For 2025, her chosen word is "respect," and she explains how this theme will shape her actions, decisions, and business strategies over the next year. Whether you’re interested in setting impactful intentions or looking for ways to instill more discipline and authenticity in your business, this episode has valuable insights for you.  What you'll hear in this episode: 05:07 Choosing "respect" as a guiding word. 

08:12 Word of the year: Respect and discipline enforcement. 

10:52 Accountability from team fosters self-awareness and respect.  If you like this episode, check out: Essential Phases in Selling Your Business 

Become the Director, Not the Lead Actor 

The Best Way to Get Out of a Business Funk   Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

In today's episode, Shannon delves into a crucial topic for any business owner: hiring contractors versus employees. She shares her personal journey of expanding her team from contractors to W2 employees and breaks down the pros and cons of each option. Whether listeners are planning to hire in the near future or are just curious about the differences, this episode provides valuable insights to help make informed decisions. So, if listeners are ready to discover the best hiring strategy for their businesses, they should stay tuned!  What you'll hear in this episode: 03:48 Ensure proper classification of employees and contractors. 

06:41 Contractor relationships: low risk, easy exit, flexible. 

11:36 Hire slowly and intentionally to avoid costs. 

13:15 Employees crucial for sustainable high-value businesses.  If you like this episode, check out: The Silent Business Killer 

Authentic Hiring: Showcase Your Values 

Creative Benefits You Can Offer Employees  Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-sessions  Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

In this episode, Shannon tackles the often overwhelming task of managing business travel expenses. Shannon, known for her mission to simplify money matters and empower listeners through knowledge, dives deep into practical strategies for keeping travel expenses under control. From tracking countless receipts to disputing charges and ensuring compliance with tax regulations, business travel can be a cumbersome process. No worries, though; Shannon explores effective methods like utilizing GSA per diem rates to streamline expense tracking, whether you're a solo entrepreneur or managing a team of traveling employees. Tune in for valuable insights to help keep travel expenses in check and budgeting hassle-free.  What you'll hear in this episode: 05:46 Reimburse later; upfront payments are riskier. 

07:28 Maintain strict oversight on employee credit spending.  If you like this episode, check out: End-of-Year Financial Prep: Three Essential Steps for Business Owners 

The Truth About Tax Savings and Strategies 

Simple S Corp Salary Guide for Beginners  Want to learn more so you can earn more? Transform your small business journey – download the Small Business $tarter Kit here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

Today, Shannon explores the transformative power of relationships in business. Fresh from her inspiring trip to Laguna Beach, Shannon shares insights gained from interactions with notable entrepreneurs like Jeff Fenster and David Norrie. Listeners will learn about the concept of relationship capital and its significance, along with practical advice on authentically connecting with others and the importance of making deposits and withdrawals in one’s professional network. The episode also delves into effective strategies for leveraging social media and business networks to cultivate meaningful connections. Whether a novice or a seasoned entrepreneur, this discussion will provide valuable strategies to enhance the quality of business relationships. Tune in to understand why top entrepreneurs prioritize relationships as the cornerstone of their success.  What you'll hear in this episode: 05:56 Reciprocity eases discomfort in asking for help. 

09:44 Focus on relationships, not marketing hacks.  If you like this episode, check out: Essential Phases in Selling Your Business 

Become the Director, Not the Lead Actor 

The Best Way to Get Out of a Business Funk  Want to learn more so you can earn more? Get $50 off your HR audit with People Principles by using code SHANNON50 here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

In this episode, we chat with TJ Slattery, founder of Crowsnest Consulting. Together, we dive into the essentials of scaling your business wisely, highlighting thoughtful analysis, organizational changes, and delegation. 

Using the "underpants gnomes" analogy, we explain the risks of missing crucial planning steps. TJ also breaks down the importance of pro forma financial forecasts and their operational impacts. Tune in for actionable insights and real-world advice to help align your business operations with your financial goals.  TJ is a lifetime entrepreneur, small business owner, and strategic advisor with a burning desire to help other small business owners scale their enterprise and gain freedom in their professional and personal lives.  

The importance of creating n holistic pro-forma to plan out your next 12 and 18months as a small business owner. Blending a financial, sales, & marketing strategy with capacity, recruitment planning, and leadership development.   Visit TJ’s website at www.crowsnestmindset.com for more information on his practice and how to contact him for an introductory call and discuss what creating a holistic pro-forma would mean for your business.  What you'll hear in this episode: 06:19 Thoughtful analysis necessary for business growth planning. 

07:26 Understanding multidimensional impacts in financial decision-making. 

11:28 Plan for scaling and delegating responsibilities effectively. 

14:20 Pro forma scenarios for future business strategies. 

19:36 Involve relevant team members in pro forma creation. 

21:28 Regularly check in with team for updates. 

24:33 Setting goals, teamwork boosted marketing firm's growth. 

29:38 Embrace growth, trust others, let go. 

32:40 Forecast triggered job quitting for life change. 

36:22 Align business growth with long-term financial goals.  If you like this episode, check out: Increase Your Earnings Without the Sales Struggle 

Crafting a Profit Plan That Drives Your Business Forward 

Bored and Profitable Beats Busy and Broke Every Day  Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh  Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

In this episode, Shannon explores the pivotal role of risk-taking in building a sustainable and valuable business. She discusses the delicate balance between withdrawing cash flow for immediate needs and investing for long-term growth. With her personal reflections and actionable advice, this episode is essential for entrepreneurs at every stage. Tune in to discover how embracing risk can lead to greater success.  What you'll hear in this episode: 03:59 Harvesting reduces value, like extracting business cash. 

06:50 Consider downsizing lifestyle for business success.  If you like this episode, check out: Increase Your Earnings Without the Sales Struggle  

Crafting a Profit Plan That Drives Your Business Forward  

Bored and Profitable Beats Busy and Broke Every Day  Want to learn more so you can earn more? Try Kajabi free for 14 days here: https://app.kajabi.com/r/zGmoZA9E/t/tsfmvbq4  Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn. 

Today, we're thrilled to share an insightful episode featuring Shannon’s appearance on the “She Believed She Could” podcast with host Allison Walsh. Shannon dives deep into her journey, from her initial inspiration to become an accountant to the valuable services she offers through her company. She shares practical tips on avoiding financial pitfalls, the importance of proactive tax planning, and how entrepreneurs can retain more of their hard-earned money. Allison and Shannon discuss the value of ongoing collaboration with financial advisors and why taking early steps, even simple ones like opening a business bank account, can make a significant difference. Whether you're just starting your business or looking to optimize your financial strategy, this episode is packed with actionable advice to help you succeed. 

Listen to “She Believed She Could” Podcast here: https://podcasts.apple.com/us/podcast/she-believed-she-could-podcast/id1505347834    What you'll hear in this episode: 07:16 Starting simple alleviates overwhelming financial tasks. 10:56 Hire a proactive accountant for strategic tax planning. 13:14 Help maximize earnings: IRS compliance, strategy, advising. 18:34 Values clarity drives client alignment and confidence.  If you like this episode, check out: Managing Business Dynamics with a Partner 

Start with This Financial Metric (Financial Priority Formula Part 1) 

What Are the 3 Things You Need to Know Before Buying a Business?  Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ  Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/   The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.