Pay Play Profit

Whether you're earning $5,000 a month in sales or $1,000 a month in sales up to seven figures in sales, we highly suggest you take the time to listen to this episode and understand some things you need to know about an S-Corp – because, ultimately, you're going to want this information, especially when we’re talking about tax savings.

The amount of tax savings you can have by being an S-Corp can be very substantial. Even if you're not really ready for one now, you want to make sure that you understand it so you can pull the trigger at any point you're ready. 

Now, there's a misconception going around that just because an S-Corp can save you on taxes, you can just simply switch to S-Corp right away and do it by yourself. Well, it doesn’t work that way – unless you’re willing to spend thousands and thousands of dollars, which only defeats your purpose of saving on taxes.

In this episode, you will hear:

• Things to consider to make an S-Corp work
• How much you could save on self-employment taxes
• Understanding reasonable compensation
• 3 approaches to getting to your reasonable compensation number

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

028: How An S-Corp Can Save You Big Money On Tax 

DigiTax Pro

RCReports: Reasonable Compensation Simplified

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

You’ve probably mastered knowing your customer avatar, but have you taken the time to really figure out who your ideal teammate is? Imagine, this is somebody you’re going to spend 2 to 10 hours a day, depending on the season of life you're in with this person. You’ll perhaps engage with them more than you do your partner or your children sometimes. And yet, people make these decisions on who they're going to hire based off of a 30-minute interview.

In today’s podcast, Trivinia Barber, founder of Priority VA, talks about the value of an executive assistant, and how we, as business owners and entrepreneurs, need a right-hand person in our life. It's a great profit decision that will have a return on in terms of time, energy, and money. 

Trivinia Barber is the founder of Priority VA where they match executive assistants with entrepreneurs all around the globe. She started the company as a result of her own problem as a former executive assistant herself. Now, her company is focused on executive assistants and helping them get placed with high-level clients who understand the value of a team member and that they can only get as far as they can go with a team they can trust. 

In this episode, you will hear:

• Building your team is an investment, not a cost
• Finding your ideal teammate and characteristics to look for
• A sample demonstration of the Ideal Teammate Avatar training
• Your needs change so be willing to revisit the roles
• Why an executive assistant should be your first hire
• The 3 things an executive assistant can provide
• How to get yourself prepared on the financial side

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Diary of a Doer Podcast

The Ideal Teammate Avatar Training

Priority VA 

Episode 40: Setting Pay Play Profit Goals for 2021

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

Are you in a money-in, money-out situation that you’re still not paying yourself in your business? Remember, you’re running your business – not the business running you. 

A lot of people have the passion and the mission of their business. But if you're not paying yourself, something's not right. The beauty of Profit First is that you start paying yourself. 

Our core focus as an organization is to help you reimagine entrepreneurial success with simple, practical, powerful solutions. And we feel like the way to measure that success can be in the form of pay play profit. 

Today, we're giving you a glimpse of what your goal-setting process should be for 2021. Now is the time to create your own Pay Play Profit and create goals that fit into each of those categories. Or you may already be doing it, but you just don't know how to compartmentalize stuff. 

We highly recommend you make this a cornerstone of your life and you’ll be surprised by how much you will mature as a business owner.

In this episode, you will hear:

• Breaking down Pay, Play, and Profit
• What it means to follow profit first
• What if your business couldn’t afford to pay you or you’re commingling
• Establishing your profit goal and what goes into your profit distribution
• Prioritizing play and creating a culture of play in your organization

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Profit First by Mike Michalowicz

Traction by Gino Wickman

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

In this episode, we're going to dive into closing your year in 2020 for tax so we can all put 2020 behind us without any stone left unturned. The quicker you can actually file your tax return timely, the better you can stay focused on what's in front of you currently and what's ahead of you. 

Make January the month you recalibrate and close your year in terms of taxes. Take the steps you need to take today while you're closing this year to set you up for success in the next. 

Let's make 2021 all about the lessons we need to learn and about doing the things we need to do now to go forward in a way that we're going to reap the fruits of our labor when January 2022 rolls in. 

In this episode, you will hear:

• What closing your year-end looks like
• Why people don't file their taxes timely
• Ways to file your tax on time
• Paying attention to your balance sheet
• Some changes in the 2020 tax season in light of COVID

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Xero Accounting System

https://www.xero.com

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

Successful companies have employees who are productive, engaged, and happy – and it starts at the top. In this episode, we talk about a great book, How To Be A Great Boss by Gino Wickman & Rene Boer.

This is a great read that will make you question your whole life and whether you should be doing this. Hopefully, it will energize you to rise to the challenge of being the best boss you can be!

Remember, being a bad boss does not make you a bad person, just a bad boss. Being a boss and being a great boss are two different things either. And if you think you have not been a great boss, but you're ready, willing, and able to become one – there is still hope. 

Today, we hope we’ll be able to help you explore your own life and your leadership, as well as help you get the clarity you need to reflect on whether you really want this and whether you have what it takes to be a great boss.

In this episode, you will hear:

• Who will benefit most from the book
• Takeaways from the book
• The practical application of being a great boss
• The GWC: Do you have what it takes?
• The 4 types of capacity

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

How To Be A Great Boss by Gino Wickman & Rene Boer https://amzn.to/35LA1Wf

The Motive by Patrick Lencioni https://amzn.to/32YUrsY

EOS Worldwide: https://www.eosworldwide.com/ 

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

As a business owner, you can’t just skip payroll conversations, and that includes the 1099s. Documentation and consistency will save you every time with the IRS because the burden of proof is always on the taxpayer. 

Especially when you’re dealing with contractors, landlords, and attorneys, they are all part of your ecosystem and your team so you need a process for those people. You need to take it a few steps further than just making the deal on paying them and doing the work

And sometimes, a good little practical protection is all it takes to get you moving in the right direction.

In this episode, you will hear:

• What is a 1099 and when to use it
• Tools you can use to help you go through the process
• How to prep for your 1099
• Why you need to make sure you’ve got all the right information

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

Track1099 https://www.thebottomlinecpa.com/track-1099-referral

Xero

https://www.xero.com/us/

ProfitHERO Program

https://www.profithero365.com/program/ 

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

Ever heard of an integrator role in a business? If you haven’t yet, or if you have but you still haven’t thought about hiring one, then at least consider listening to this episode. First off, this is way bigger than having a title. It's not about titles, but it's about what your function is to the whole. 

When you’re thinking about growing a team, the visionary-integrator duo is what creates this rocket fuel necessary for your business to gain traction. 

So what makes this the visionary-integrator dynamics so special?

In this episode, we have our team's integrator, Ashley Newman, where we discuss her significant role as an integrator and how her role has brought stability, clarity, and awareness in the way we’re doing things right now. 

There's conflict between different personality types and characteristics. Now, if you can put yourself in a role so that you're not always butting heads with other people in the team, but you’re in alignment and you’re actually doing what you're supposed to do, you can make some serious momentum and power in the business. 

In this episode, you will hear:

• The role of a visionary vs. an integrator 
• The Rocket Fuel University
• What is a crystallizer assessment?
• The DNA traits of an integrator and the benefits of an integrator role
• The owner and operator are two different hats.

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

https://www.thebottomlinecpa.com/ 

RocketFuel by Gino Wickman and Mark Winters https://amzn.to/3kbwdCA

RocketFuel University: https://rocketfueluniversity.com/

Integrator Academy Masterclass: https://rocketfueluniversity.com/integrator-academy-masterclass/

Traction by Gino Wickman https://amzn.to/3dwejaS

EOS Basecamp: https://www.eosworldwide.com/

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

Did you know the average podcast listener is subscribing to six shows? 93% of podcast listeners listen to more than half or all of an episode. And people listen to an average of 90 minutes of audio a day, most of which is a podcast. 

We believe that every decision is a profit decision. And launching a podcast has been one of the best decisions we’ve ever made. 

You see, we’ve tried to launch a podcast twice in the last seven years. And the third time's probably a charm – but only because we have a partner like Danny Ozment. Danny is the CEO of Emerald City Productions, a podcast production and consulting company. And we’re so proud to say that right now, we have more episodes than the previous two podcasts combined. 

That’s why we decided to bring Danny on the show today to talk all about podcasting and how you, too, can get on board! 

In this episode, you will hear:

• Common roadblocks in podcasting
• How Danny got into the world of podcasting
• The power of podcasting and the need to be authentic
• Repurposing your podcast content into other formats
• How a podcast is a referral marketing on a grand scale
• Why you shouldn’t listen to too many people

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

Profit First by Mike Michalowicz https://amzn.to/2RODs5D

ProfitHERO https://www.profithero365.com/program/

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

In this episode, we want to share with you this yearly tradition that we do within our families and within our organization to celebrate the most important season of the year – Thanksmas!

If you have a team, this is something you could do once a year to create something special that’s going to honor them, give each other some time and space, and essentially use this as a closing ceremony to close down the year and get yourselves ready for when everyone returns from their break.

And we'd love to encourage you to take a little piece of our Thanksmas tradition. Think about what you asked for this year and what you got from that. Then think about going into the next year because Thanksmas 2020 lays the foundation for 2021.

Finally, we want to say thank you for being a part of our year in 2020!

In this episode, you will hear:

• What is Thanksmas and why we celebrate it each year
• How we celebrated Thanksmas in 2020
• Activities you can do to celebrate your virtual Thanksmas
• Why we chose Radical Harvest as our organization’s theme for 2020
• The 2021 theme for our organization: “Thank You, Neighbor” – and how we’re going to walk it out

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com

When it comes to year-end payroll, it's better to be early than late. In fact, your payroll processor wants you to do this early as well. And if you don't currently have payroll in your business but you're a growing entrepreneurial organization, then you will be doing this eventually. 

So we’re telling you now – don't skip this process because it can save you a lot of time, money, and energy in the new year. And especially because the IRS has what it takes to take what you have. 

In this episode, we want to discuss a few things you need to be mindful of because this is a process you need to put inside your operational systems every single year. So we’re going to do a quick, little rundown of the things you have to understand to get this stuff done ideally before the W-2 gets run right after the first of the year.

In this episode, you will hear:

• Why you need to do your year-end payroll early
• Why it’s better to get some help from a payroll processor
• The cost of getting the information wrong on the W-2
• Things to know about voided checks and escort payroll and health insurance
• Prepping for 1099

Subscribe and Review

Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 

We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.

If you really enjoyed this episode, we’ve created a PDF that has all of the key information for you from the episode. Just go to the episode page at www.profithero365.com/payplayprofit​ to download it.

Supporting Resources:

ProfitHERO™

Gusto www.thebottomlinecpa.com/gusto-invite

Episode 030 Ins & Outs of How to Treat Self-Employed Health Insurance https://www.profithero365.com/030-ins-outs-of-how-to-treat-self-employed-health-insurance/

Episode 028 How An S-Corp Can Save You Big Money On Tax https://www.profithero365.com/028-how-an-s-corp-can-save-you-big-money-on-tax/

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Danny Ozment.

He helps thought leaders, influencers, executives, HR professionals, recruiters, lawyers, realtors, bloggers, coaches, and authors create, launch, and produce podcasts that grow their business and impact the world.

Find out more at https://emeraldcitypro.com