Always Be Prepared: Financial Tips for Small Business Success with Danielle Hayden

In this episode of 'Scaling Therapy Practice,' host James Marland is joined by Danielle Hayden, CPA, and co-founder of Kickstart Accounting. They discuss the critical importance of knowing your numbers as a business owner, practical tips for tax preparation, and overlooked deductions. Marland also shares a personal lesson about the necessity of having support systems in place. Danielle emphasizes, 'The minute you accept money from a customer, you become a business.' This episode is packed with valuable insights, including how to stay ready for taxes, maximizing deductions, and the benefits of having a catch-up financial review. Listen to gain confidence and peace of mind in handling your business finances.

00:00 The Responsibility of a Business Owner

01:10 Introduction and Personal Insights

03:25 Guest Introduction: Danielle Hayden

05:01 The Importance of Knowing Your Numbers

11:38 Staying Ready for Taxes

21:36 Taking Back Your Time: Outsourcing Bookkeeping

21:53 Understanding Scalable Pricing for Bookkeeping Services

22:18 Overcoming Barriers to Getting Help in Your Business

22:34 Misconceptions and Overlooked Tax Deductions

23:10 Maximizing Business Deductions: Real-Life Examples

25:23 Business vs. Personal Expenses: Practical Tips

26:50 Travel and Business Expenses: What You Need to Know

27:50 The Importance of Separate Business and Personal Accounts

28:15 Online Education and Skill Building: Deductible Expenses

28:38 Managing Deductions and Tax Liabilities

31:21 Overlooked Tax Write-Off Categories

32:28 Home Office Deductions and Accountable Plans

35:15 Maximizing Business Deductions: A Step-by-Step Guide

36:52 Creating Healthy, Sustainable, Profitable Businesses

37:48 Kickstart Accounting Inc.: Services and Mission

38:57 Final Thoughts and Encouragement

Links and Resources