What Your CPA Wants You to Know

Ever wondered how to steer clear of the most common pitfalls as a business owner? 

In this episode, we tackle everything from opening separate business bank accounts and maintaining proper bookkeeping, to avoiding the pitfalls of rapid business growth and budgeting effectively for accounting and legal services. Hear our tips on setting aside funds for taxes and simplifying tax preparation, including the practice of scheduling a projection meeting with your CPA. Prepare to equip yourself with knowledge that can save you from costly mistakes and ensure your business thrives from the start!

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Ever wondered how humor can transform your marketing? Join us as we welcome Janelle Baum, the orthodontic influencer, who shares her unique journey from an orthodontic treatment coordinator to a sought-after speaker and consultant. Janelle's comedic talents led her to helping orthodontic offices enhance patient engagement and drive sales. Get ready to laugh and learn as Janelle reveals her strategies for standing out in a crowded market with creativity and humor.

Authenticity and consistency are at the heart of Janelle's success, and she shares how embracing your unique personality can set your brand apart. Think of yourself as a "Froot Loop in a world of Cheerios"—and don't be afraid to be different. We'll discuss the importance of regular engagement on social media and the value of feedback from your community. Janelle's insights on blending your true self with your marketing efforts will inspire you to refine your content and style for maximum impact.

This episode is packed with tips for maximizing social media, boosting client engagement, and driving business success.

Here's where you can connect with Janelle!
Instagram
Website
Tik Tok

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Ever wondered how a small CPA firm can handle a large workload efficiently and produce record breaking profits? This episode is your gateway to understanding the secret sauce behind our firm's growth and productivity. In this episode we share basic tools like phone apps and spreadsheets to advanced solutions like monday.com.

Discover how adopting the right tools can significantly enhance your business's efficiency and profitability.

A favorite tool of ours is Calendly. Learn how integrating this scheduling tool not only streamlined our appointment process but also reduced no-shows and ensured upfront payments.

This episode covers the significance of gradually implementing efficient business practices over the years. By staying organized and finding creative ways to cut down on time, we've managed to grow our client base while maintaining high-quality service.

Don't miss out on these valuable tips that can transform your business!

Here are the products mentioned in the episode that we use and love :
Calendly - for booking meetings
Flodesk - for emailing customers
Nextivia - For internet phone system
Square - for invoicing, payroll, and more!

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Forking over $31,200 yearly for health insurance as new entrepreneurs sounded like a financial nightmare. That was not in our budget when we started our business years ago. We did some research and stumbled upon the world of health sharing plans.

We know if you're starting a new business, health care has likely crossed your mind!  In this episode we explain what we did for health coverage when we quit our jobs and what we do today. We share the pros and cons of health sharing plans that can save you money if you are on a tight budget in the beginning. 

 

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 Throwback: In this episode we explain the importance of keeping your W-4 in check, ensuring you're not caught off guard with a hefty tax bill or a disappointing refund.

We get so many questions about the W-4 form and how it should be filled out so we are breaking it all down in this episode! If you had a big tax surprise this year, this episode is for you!

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Have you heard of the new Beneficial Ownership Information Report that must be filed by all LLC owners in the U.S?!? This is the first year it is required and it is due quickly if you filed a NEW LLC in 2024.  It's due by the end of the year if you file for an LLC established before 2024!

In this episode we explain what this new BOI report is and help you understand everything from the filing process on the FinCEN website to the substantial penalties that will be assessed if you forget(!).

We lay out all the info you need to meet the critical deadlines and explain when you might need to refile. This episode is SO important for all LLC owners! Send this to everyone you know who has an LLC!

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In today's episode, we take off our "accounting" hats and put on our "business owner" hats to share how we do a quarterly meeting in our business and how you can do it too!

Ever wondered how tweaking your pricing strategy could work wonders for your revenue? That's just one tip we share as we guide you through the art of conducting a quarterly business review to supercharge your growth. 

We explain how we review our financial reports every quarter to uncover growth trends, optimize expenses, and set achievable goals for our small business. 

In this episode we discuss using automations in business, cutting costs, planning for upcoming months, and saving for taxes.  A quarterly review is a must for all business owners! 

Stay with us, and you'll learn how to make every quarter count, laying the groundwork for a financially sound and thriving business.

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Do you know how to read your tax return? Do you review your tax return when your CPA sends it over? Do you know how? 

In this episode we explain the numbers on your personal tax return (Form 1040) and how to review your tax return. A skill everyone should have! This episode is perfect for everyone, whether you file your return yourself or pay your CPA to prepare your tax return. 

We also explain our progressive tax system, the ins and outs of self-employment taxes, and strategies like S-corp status that could potentially lighten your tax burden. By the end of this episode, you'll be equipped to review tax payments and withholdings with the skill of a seasoned pro, ready for the next tax season without any nasty surprises.

Plus, we tackle the critical step of signing Form 8879 for e-filing, and why aligning the numbers on your tax return with those on the form is not just about accuracy—it's about peace of mind. So, grab your tax return and join us for a session that promises to educate and empower you for future tax seasons.

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Every now and then, we cross paths with someone whose strength is so palpable, it resonates through their stories and touches our lives.

Josie's story of unwavering love and resilience as she navigated the diagnosis of her third daughter's heart condition and Down syndrome is one you won't forget. Our latest episode offers a window into her world, where the simple act of crafting bracelets sparked a global chain of support. These bracelets symbolized hope and togetherness for people all around as her daughter braved the critical heart surgery. Josie's candid recounting reminds us that even in our darkest times, the compassion of others, can shine through.

Josie started her business, Love for Littles, a venture where passion meeting business. Josie's story captivates as she details how a personal mission evolved into a means of solace for families battling health crises. It's not just about the bracelets, but the bonds they foster. As her children contribute, taping these symbols of solidarity onto cards, we're reminded that business can be both a labor of love and a family affair.

Join us to hear how Josie started a business from passion and how she is making money while also supporting others along the way!

Find Love for the Littles Here:
Website: www.theloveforlittles.com
Instagram: https://www.instagram.com/theloveforlittles
Facebook: https://www.facebook.com/theloveforlittles
TikTok: https://www.tiktok.com/@theloveforlittles
Phone Number: (920)207-9453

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Do you need more time to file your tax return this year? If so, don't forget to file an extension to reduce penalties!

In this episode, you'll learn the ins and outs of tax return extensions.

 We dissect deadlines for all tax return filings and the penalties assessed if you do not file on time and/or do not file an extension.

We also talk penalties and interest—because if there's anything less exciting than watching paint dry, it's watching your hard-earned cash wash away to the IRS. But fear not! We've got your back, breaking down how the IRS penalizes those who file late and those who forget to file an extension. 

And if you're staring down a tax bill that looks more like a phone number, don't panic! We cover the IRS payment plan and why it beats the ostrich strategy (aka burying your head in the sand) every time. So, sit back, relax, and let us guide you through all the details you need to know about filing an extension for your tax return!

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