The storm has passed (literally and financially), tax season deadlines have shifted, and I’m finally coming up for air—just in time to hit you with another WTF finance moment. Today, I’m diving into the real reason businesses fail: a lack of financial statements. Yes, it’s that simple. Banks, investors, and business owners are making massive financial decisions without reviewing solid financials, and it’s a disaster waiting to happen.

In this episode, I break down:

• ​ Why your business needs CPA-prepared financial statements (and no, your tax return doesn’t count).
• ​ The importance of financial statement notes—because the numbers don’t tell the whole story.
• ​ My upcoming PhD journey (Dr. What The Finance is coming soon!) and how I’m using it to push for real change in business compliance.
• ​ Why bad bookkeeping and back-alley tax preparers are ruining businesses—and what we can do about it.

Also, I may or may not have bruised myself playing tennis. Priorities, people.

Now the AI version:

In this episode of "What the Finance," host Katrina Keller, CPA discusses the aftermath of tax season, particularly the extensions granted in Florida due to Hurricane Milton. She shares her experiences working with a client to clean up their financial records and the importance of having reviewed financial statements prepared by a Certified Public Accountant. Katrina reflects on her unique journey, her desire to pursue a PhD, and the value of continuous learning. She emphasizes the need for individuals to understand financial statements, particularly the significance of the notes accompanying balance sheets, which provide deeper insights into a company's financial health. Throughout the episode, Katrina's engaging storytelling and personal anecdotes aim to make finance more relatable and accessible to her audience, encouraging them to seek knowledge and improve their financial literacy.

It’s Friday, tax season is still kicking my ass, and I’ve got five days left before freedom! But in the midst of this chaos, I’m bringing you a very necessary bookkeeping lesson—because let’s face it, bad bookkeeping is an epidemic, and I’m here to fix it.

Today’s teaching moment? Prepaid expenses, QuickBooks blunders, and why selecting the wrong name (vendor vs. customer) can screw up everything. Plus, big news: I’m launching a bookkeeper matchmaking program to train and connect quality bookkeepers with businesses that desperately need them. If you’ve ever asked, “Do you know any good bookkeepers?”—this episode is for you.

In this episode of What the Finance, Katrina Keller, CPA shares her journey through tax season while introducing exciting developments at LearnWTF.com Academy. The academy aims to provide finance courses, toolkits, and certification opportunities for individuals seeking to enhance their financial skills without pursuing formal degrees. A significant focus is on addressing the common challenge of finding reliable bookkeepers, as the speaker expresses a desire to train individuals in bookkeeping and connect them with employers. The speaker emphasizes the importance of financial literacy for everyone, encouraging self-motivated learning and understanding of business processes. Additionally, a teaching moment is shared regarding the handling of prepaid expenses in QuickBooks, highlighting common mistakes and the importance of accurate transaction entries. Overall, the speaker is passionate about empowering others in finance and fostering a community of skilled professionals.

It’s Sunday morning, and I’m sipping coffee, venting, and questioning the meaning of it all—while also contemplating why some business owners would rather risk prison than pay for quality accounting. In this raw and unfiltered episode, I break down the frustration of clients who don’t value their financial lifeline, the insanity of working around the clock for people who don’t get it, and why I should start charging an “AOG rush fee” for last-minute tax chaos.

Plus, we get philosophical: Does any of this even matter? Are we just tiny financial beings floating in a cosmic spreadsheet? Should I just quit and become a full-time DIY furniture refinisher? Grab your coffee (or something stronger) and join me for this wild, caffeinated ride through finance, value, and the universal struggle of being underappreciated.

Let’s go! I’m preaching from the pulpit today!

Now the AI description:

In this episode of What the Finance, Katrina Keller, CPA, takes us through Coffee Confessions, She shares personal reflections on the challenges of working for oneself, particularly during tax season. They discuss the frustrations of not being appreciated by clients despite providing valuable services, contrasting their worth with that of other professionals who may not deliver the same level of impact. The host vents about the pressures of maintaining a high work ethic while managing personal health issues, such as dealing with a sty in their eye. They emphasize the importance of valuing financial advisors and the work they do, advocating for a greater understanding of their contributions. The conversation also touches on the need for self-care and the balance between work and personal life, as the host seeks to minimize stress and guilt associated with daily tasks. Ultimately, the episode serves as a candid exploration of the emotional and physical toll of entrepreneurship.

Coming to you live from the floor, Yoga style! It’s time to decompress my brain and do something creative!

Today I’m gonna paint a table, do some yoga and complain about the hellish tax season that just unfolded and the next one that’s coming! Listen now!

Now the AI version: In this episode of "What the Finance," host Katrina Keller, CPA, shares her personal experiences and insights while engaging in a creative project—gilding a table. She reflects on the challenges of the recent tax season, including a significant tax error that could have led to a $600,000 liability. Despite feeling unwell, with symptoms resembling pink eye, Katrina emphasizes the importance of taking breaks and finding joy in creative endeavors. She discusses her DIY projects on her website, januaryember.com, and the value of reporting all business income, regardless of registration status. Katrina's candid approach combines finance with personal anecdotes, encouraging listeners to embrace imperfections in life and art. She concludes by inviting listeners to follow her journey and check out her coffee confessions for deeper discussions on life and finance.

The Day after is almost as bad as the day of and this one turned out to have some twists and turns that made me go WTF?! More than usual! Another $200k saved and the mess of craziness that unravels, come along with my crazy journey! Listen now and see how many WTF’s we find!

Now the AI version:

In this episode of "What the Finance," host Katrina Keller reflects on the challenges of tax season and the importance of understanding financial matters for business owners. She shares her experiences with a client whose tax returns were fraught with errors, emphasizing the need for thoroughness in accounting. Keller discusses the significance of having a purpose beyond financial gain when starting a business, suggesting that true motivation should stem from a desire to help others. She also touches on the complexities of equity in business, explaining concepts like capital contributions and distributions. Despite the struggles, she remains committed to her podcast and helping her audience navigate financial issues. The episode concludes with her plans to engage in some much-needed exercise and hints at future discussions about car trade-ins and accounting entries, showcasing her dedication to both personal well-being and professional growth.

It’s D-DAY, and not the good kind! I’m running on caffeine, chaos, and a million-dollar accounting mess. From uncovering massive tax mistakes to breaking down why forensic bookkeeping could save your business, this episode is packed with WTF moments. Grab a coffee and brace yourself—this is tax season like you’ve never heard it before! Listen now!

Now the AI version: In the podcast "What the Finance," host Katrina Keller, CPA, shares her chaotic experience on tax day, humorously reflecting on the challenges of finance and accounting. She discusses the complexities of preparing tax returns, particularly for clients with complicated financial situations, including foreign transactions. Keller emphasizes the importance of forensic bookkeeping, ensuring that financial records are accurate and defensible in court, especially during IRS audits. She also touches on the emotional weight of advising clients on necessary amendments to their tax returns, highlighting the ethical dilemma of knowing when something is wrong. Amidst her financial musings, she shares personal anecdotes about her daughter, balancing parenting with her professional life. The episode captures the stress and humor of tax season while providing insights into the intricacies of financial management and the responsibilities of a tax professional.

COVID caused many problems, and your books are still not right, just like our bodies! We all still feel the effects. Every single client I have seen has done these things wrong in their accounting and taxes, don’t be one of them, listen and fix it with me! I’m taking you along for the ride, let’s see if I go insane! Welcome to the tax season countdown…

It’s September 15th… well, technically the 17th because the deadline got pushed, and I’m deep in the trenches of tax season madness. Today’s episode is a behind-the-scenes look at what really goes into fixing messy books before tax filings—especially when it comes to SBA loans, interest expenses, and off-balance sheet transactions. Most tax preparers don’t know what they’re doing (yes, I said it), and I’m here to show you how to clean up your financials before the IRS does it for you.

We’ll talk about the common accounting mistakes that could get you audited, the importance of properly recording interest expenses, and why business owners need to understand their own financial statements—or risk paying the price. Plus, I’ll walk you through QuickBooks tools that can save your sanity and share why forensic accounting isn’t just about numbers—it’s about protecting your ass.

Key Takeaways:

• ​ SBA Loans & Interest Expense: If you have an SBA loan, you should have a corresponding interest expense. If you don’t see it on your books, you’re already in trouble.
• ​ IRS Algorithms Catch Mistakes: The IRS cross-checks loan balances and interest expenses—if your numbers don’t add up, expect a red flag.
• ​ The $100 SBA Loan Fee: This little detail is missing from every set of books I review. Have you recorded it correctly?
• ​ Fixing Past Years is Crucial: If your previous year’s books are wrong, your current year is wrong too. Clean it up before you file!
• ​ Use QuickBooks’ Reclassify Transactions Tool: If you’re struggling to find misclassified expenses, this tool is a lifesaver.
• ​ Off-Balance Sheet Items Can Kill You: Not tracking lease obligations, debt payments, or related-party transactions properly? That’s how companies accidentally commit fraud.

Before you file your taxes, check your books! Do you have an SBA loan but no interest expense? Does your balance sheet match your actual loan statements? If this sounds like a foreign language to you, take my financial literacy course on LearnWTF.com to avoid making costly mistakes. And if you want me to personally help you clean up your books, reach out before you get caught in an IRS nightmare.

In this episode of "What the Finance," host Katrina Keller shares her experiences and insights as she navigates the challenges of tax season. With the deadline approaching, she reflects on her work environment, including her new breakfast nook setup, and emphasizes the importance of being organized and educated about financial responsibilities. Katrina discusses the significance of accurately reporting interest expenses related to loans, particularly in the context of COVID SBA loans, and warns listeners about the potential legal repercussions of neglecting these details. She stresses that ignorance can be costly and encourages her audience to seek knowledge to avoid pitfalls in their financial practices. The episode serves as both a personal update and a valuable lesson in financial literacy, urging listeners to stay informed and proactive in managing their finances.

Welcome to the next edition of 'Take your podcast to work' Tax Season Countdown, with only 5 days left, everything is crazy, reminiscing about WTF a widget is, our real world "rescue project" and the madness around it. Can you handle the truth? Let's get into the nitty gritty and ask the TOUGH questions today!

"Don't bring me dead bodies and ask me to bring them back to life"...another creepy analogy that came from today's episode!

Welcome to another wild and insightful episode of What the Finance! with your favorite redheaded CPA, Katrina! With the corporate tax deadline looming, she dives headfirst into forensic bookkeeping madness, tackling three years of chaotic intercompany transactions, off-book loans, and a record-breaking number of journal entries.

But today’s real question is: Why do business owners treat accounting like an afterthought? From marketing to branding to selling candles online, finances always seem to take a back seat—until disaster strikes. Katrina breaks down the dangers of financial ignorance, why “ignorance is not bliss, it’s expensive,” and how avoiding your numbers is like ignoring a rotting corpse (yep, it gets dark).

Expect brutally honest business wisdom, hilarious analogies (including a messy business threesome analogy you won’t forget), and some serious financial truth bombs. Plus, a throwback to Katrina’s early days discovering how much money firms really make off their accountants (spoiler: it’s criminal).

🔥 In This Episode:

The forensic bookkeeping nightmare: 100+ journal entries, intercompany madness & cleaning up a mess years in the making

Why every business owner should have a CPA (and why hiring a bookkeeper isn’t enough)

The truth about bad financial habits: If you can’t manage your personal finances, you can’t run a business

The moment Katrina realized her old firm made nearly $3 million off her work—while paying her pennies

Why most entrepreneurs think about everything except accounting, and how that mindset is setting them up for failure

The balance sheet as your business’s naked truth—it’s time to strip down and face reality

💡 Bonus: Katrina is cooking up some killer new tools for LearnWTF.com, including templates for accruing interest on intercompany loans, lease payment calculations, and balance sheet breakdowns that actually make sense.

🚀 If you’re serious about running a successful business, understanding your numbers is non-negotiable. Stop ignoring your financials and start making smarter money moves today!

We’ll talk about the common accounting mistakes that could get you audited, the importance of properly recording interest expenses, and why business owners need to understand their own financial statements—or risk paying the price. Plus, I’ll walk you through QuickBooks tools that can save your sanity and share why forensic accounting isn’t just about numbers—it’s about protecting your ass.

Key Takeaways:

• ​ SBA Loans & Interest Expense: If you have an SBA loan, you should have a corresponding interest expense. If you don’t see it on your books, you’re already in trouble.
• ​ IRS Algorithms Catch Mistakes: The IRS cross-checks loan balances and interest expenses—if your numbers don’t add up, expect a red flag.
• ​ The $100 SBA Loan Fee: This little detail is missing from every set of books I review. Have you recorded it correctly?
• ​ Fixing Past Years is Crucial: If your previous year’s books are wrong, your current year is wrong too. Clean it up before you file!
• ​ Use QuickBooks’ Reclassify Transactions Tool: If you’re struggling to find misclassified expenses, this tool is a lifesaver.
• ​ Off-Balance Sheet Items Can Kill You: Not tracking lease obligations, debt payments, or related-party transactions properly? That’s how companies accidentally commit fraud.

Prepare for the tears, this episode gets real, can’t talk about 9/11 and not cry, but then we get into a peak of how I became the accountant I am…a look at the past. This take your podcast to work special continues the tax season journey…Great teaching moments here! The CPA Junk Drawer, learn why you have to have this! Listen now!

In this powerful episode of What the Finance, Katrina Keller, CPA dives deep into the chaos of business finances, tackling intercompany transactions, misclassified entries, and the all-too-common mistakes business owners make when managing their books. She shares her personal journey, reflecting on 9/11, her early days in bookkeeping, and how those experiences shaped her forensic accounting skills today.

With a mix of humor, tough love, and practical financial wisdom, Katrina introduces the concept of the CPA Junk Drawer—a necessary dumping ground for uncertain transactions that need proper classification later. She warns against the dangers of ignoring financial records, misreporting transactions, and relying on unqualified bookkeepers who can cost businesses thousands.

This episode is packed with actionable advice, including why opening balance equity should never be a black hole for unexplained transactions, how off-balance sheet items affect business finances, and why every dollar in or out needs to be accounted for.

Key Takeaways:

• ​ Know Your Balance Sheet: It tells the story of your business—assets, liabilities, owner distributions, and financial health.
• ​ Beware of Opening Balance Equity: If you see a balance here, something went wrong. Investigate and reclassify.
• ​ Intercompany Transactions Are a Mess: Avoid treating your businesses like an ATM; sloppy record-keeping can lead to compliance issues.
• ​ Financial Records Matter: Business success depends on accurate numbers—mistakes cost real money and tax implications.
• ​ Use an ‘Exchange CPA’ Account: Instead of dumping transactions into the wrong accounts, create a placeholder for review by a professional.
• ​ Get a CPA, Not Just a Bookkeeper: Low-level bookkeeping mistakes can cost businesses thousands in lost deductions and IRS penalties.
• ​ Stay Focused & Keep Learning: Business success isn’t just about making money—it’s about managing it properly.

Don’t let bad bookkeeping drain your profits! Visit LearnWTF.com to get expert financial training, avoid common accounting mistakes, and ensure your business is on the right track.

Subscribe to What the Finance for more real-world financial insights from Katrina Keller, CPA, CFF, CFE, MST—because your business deserves better than guesswork!

Ever found yourself sitting in therapy talking about business stress, hiring decisions, or cash flow problems? You’re not alone—but guess what? That time isn’t tax-deductible. In this episode, we break down the difference between using therapy to vent about work (which the IRS sees as a personal expense) versus hiring a business coach or financial advisor (which could be a legitimate business deduction).

In this episode of What the Finance, host Katrina Keller, CPA dives into the often-overlooked financial distinction between therapy and business coaching. Many entrepreneurs and business owners find themselves discussing business strategy in therapy, yet those sessions aren’t deductible expenses. However, hiring a business coach, financial advisor, or strategic consultant is a legitimate business expense. So, should you be venting about cash flow problems to your therapist or strategizing with a business consultant who can actually help you make more money?

With her signature humor and real-world experience, Katrina breaks down the financial and tax implications of each, helping you understand the importance of keeping your business expenses categorized correctly. She shares real client experiences, the financial impact of making the right choices, and why working with a business advisor can not only provide guidance but also save you money in the long run.

Key Takeaways:

• ​ Therapy ≠ Business Advice – While therapy is great for personal well-being, using it for business strategy means you’re paying for non-deductible expenses instead of investing in real financial solutions.
• ​ Business Coaching is Deductible – Hiring a qualified business coach, financial consultant, or strategic advisor can provide valuable insights and be written off as a business expense.
• ​ The Cost of Bad Advice – Many business owners waste time (and money) in therapy discussing work problems that could be solved by a financial professional.
• ​ Understanding Off-Balance Sheet Transactions – Katrina explains how missing transactions, loans, and hidden financial issues can impact your financial health.
• ​ Investors Care About Clean Records – Whether you’re seeking funding or just trying to stay compliant, working with a financial expert helps keep your books in order.

Stop overpaying for advice in the wrong place! Tune into this episode to learn how to maximize your business expenses and make smarter financial decisions. Visit LearnWTF.com for expert insights, business tools, and financial guidance designed to keep you out of trouble—and in profit!