Shows
What Your CPA Wants You to Know112. Our CPA Betrayal ListSend us a textWe share the CPA betrayal list: the habits that raise your bill, drag your return past deadlines, and create tax shocks. Practical fixes help you file on time, clean up your books, and save cash for taxes without the last-minute panic.Support the showCreate a STAN Store - Click here to try it out!Here's where you can find us! Shop our business guides!Our Instagram PageOur family...
2025-11-2632 minWhat Your CPA Wants You to Know109. All about the Backdoor Roth IRASend us a textWe break down how high earners can legally fund a Roth IRA using the backdoor method, why it matters for business owners with variable income, and where people go wrong. We share the exact steps, the pro rata trap, and the one IRS form you must not miss.• difference between Roth and traditional IRA and why Roth can be better for many• who needs a backdoor Roth due to income thresholds and phaseouts• step-by-step process to contribute and convert quickly• role of advisors and importance of coordinating with a CPA
2025-10-1514 minWhat Your CPA Wants You to Know107. How We Invest for Retirement as Accountants: Step-by-Step from CarsonSend us a textWe walk through our sequence for retirement contributions! Here's how we invest our money as accountants!• Start with any employer matching funds available - it's free money and an immediate 100% return• Max out a Roth IRA if eligible ($7,000 limit for 2025, $8,000 if over 50)• Aim to save 15% of income for retirement (12-20% range is generally recommended)• Business owners should consider a Solo 401(k) rather than SEP IRA when operating as an S-corp• Solo 401(k)s allow both employee contributions (up to $23-24k) and employer contributions (25% of salary)• Once all tax...
2025-09-1722 minWhat Your CPA Wants You to Know104. From W-2 to 1099: Everything You Need to Know About Self-Employment TaxesSend us a textTransitioning from W-2 employment to receiving 1099 income fundamentally changes your tax situation and officially makes you a business owner, even if you're doing the same work as before.• Self-employment tax means paying both the employer and employee portions of Social Security and Medicare (15.3%) on top of income tax• Business expenses can be deducted against your 1099 income, reducing your taxable income significantly• Opening a separate business bank account is crucial for tracking income and expenses correctly• You can simply transfer money from your business account to your personal account as neede...
2025-07-3029 minWhat Your CPA Wants You to Know99. The Tax Strategy Your CPA Never Told You About! The Augusta RuleSend us a textThe Augusta Rule offers a legal way to transfer money from your business to yourself tax-free by renting your home to your business for up to 14 days per year. This often-overlooked tax strategy allows business owners to deduct the rental expense from their business while receiving tax-free personal income.• Rent your personal residence to your business for up to 14 days annually without paying personal tax on that income• Your business can deduct the rental payment as a legitimate business expense• Determine fair market rent by researching comparable event spaces in you...
2025-05-1412 minWhat Your CPA Wants You to Know97. Client Etiquette 101: How to Work Effectively with Your CPASend us a textWorking with a CPA effectively requires understanding both what to do and what to avoid to create a productive professional relationship that benefits your business.• Be organized when providing documents rather than dropping off unsorted boxes• Avoid piece-mailing documents and instead provide complete packages when ready• Consolidate questions and communications to respect your CPA's time• Ask questions to understand your tax situation and learn from your CPA• Plan ahead for taxes and save a portion of profits throughout the year• Set clear expectations about which specific services you...
2025-04-1613 minWhat Your CPA Wants You to Know93. BOI Report Saga: Stay Informed and Prepared for ChangeSend us a textThe episode dives into the updates surrounding the BOI report, which requires LLC owners to report beneficial ownership information to FINCEN. Here we discuss the BOI updates as of today!• Introduction of the BOI report and its purpose • Current status, with no legal obligations to file now • Importance of monitoring updates closely • Recommendations for proactive filing and seeking clarity • Encouragement to share the episode for awarenessSupport the showCreate a STAN Store - Click here to try it out!Here's where y...
2025-02-1904 minWhat Your CPA Wants You to Know92. Balancing Business Growth and Family Life: Setting Boundaries in 2025Send us a textEver felt like you're sacrificing your family life for business growth? It’s a dilemma many of us face, especially as we navigate the complex demands of 2025. This episode is a reflection on the art of setting boundaries to ensure that our professional ambitions don’t overshadow the important moments with our loved ones. With three active kids, the conversation is about making intentional business choices that align with family values. It's about saying "no" when necessary, adjusting work hours, and hiring help to avoid the burnout that comes from trying to do it a...
2025-02-0515 minWhat Your CPA Wants You to Know91. Business Owner's Guide to a Smooth Tax Season and End of Year FilingsSend us a textTax season is here and this episode delivers our help to navigate it successfully. We discuss critical deadlines, necessary filings, and how to prepare efficiently for your taxes while avoiding common mistakes. We cover all the questions that have been hitting our inbox this week to help you get 2024 wrapped up and organized to file your tax return!• Importance of early preparation for tax season • Key deadlines for end-of-year filings like W-2s and 1099s• 1099 requirements and deadlines • Using QuickBooks and digital tools for filing • What documents to submit to...
2025-01-2217 minWhat Your CPA Wants You to Know90. Achieving Your Business Goals in 2025Send us a textSetting clear goals at the start of a new year is essential for any business's success. We encourage deliberate planning to review past performance, establish actionable goals, and stay aligned as a team throughout the year. • Reflecting on last year's successes and challenges • Setting realistic and actionable goals for 2025 • Weekly meetings for team alignment • Updating and refining standard operating procedures • Proactive client communication and training strategies • Discussing budget and marketing efforts • Documenting meeting notes for accountability and progress tracking • Emphasizing work-life balance alongside business growthSupport the...
2025-01-0818 minWhat Your CPA Wants You to Know89. BOI Report: Important Legal Updates and Filing Tips!Send us a textPlease note: There is a temporary pause in enforcement of the BOI Report filing following a significant court ruling this month. Though we do think the BOI report will eventually need to be filed at some point.This episode walks you through how to file your BOI report on the FINCEN website if you have not yet filed!Support the showCreate a STAN Store - Click here to try it out!Here's where you can find us! Shop our...
2024-12-1816 minWhat Your CPA Wants You to Know88. Throwback: New Business Owner? You're likely a Sole Proprietorship without knowing it!Send us a textTHROWBACK EPISODE! OLDIE BUT GOODIE :)If you started a business and didn't file any paperwork, what type of business are you??? Do you know???The IRS will automatically classify your business as a sole proprietorship and that you will file the business income and expenses on Schedule C of your personal tax return. So not much will change except for your tax return! If you filed an LLC, you can still be classified as a Sole Proprietorship. You will have some additional filing requirements for t...
2024-12-0416 minWhat Your CPA Wants You to Know87. Debunking Common Tax Myths: What You Really Need to Know!Send us a textJoin us as we challenge common tax myths that we hear often from clients. We explain why your CPA doesn't need a collection of every single receipt, thanks to the magic of bank statements, and how the progressive tax system really works. Listen to this quick 10 minute episode to learn what's true and what's false (& impress your CPA this tax season)!Support the showCreate a STAN Store - Click here to try it out!Here's where you can find us!
2024-11-2010 minWhat Your CPA Wants You to Know86. Year-End To-Do List For Business Owners!Send us a textThere are SO many things for business owners to do at the end of the year + the first month of the new year! It's a LOT!This episodes guides you through what you should check off your list before the end of 2024. We help you get organized for tax time and explain what you can do before the year ends to reduce your taxes!With these actionable insights, equip yourself to minimize tax liabilities, align with your business needs, and confidently step into the new year penalty-free....
2024-11-0625 minWhat Your CPA Wants You to Know85. Owner Distributions & What All Business Owners Must Know About Them!Send us a textConfused about transferring money from your business to personal accounts? Whether you run a partnership, S-corp, sole proprietorship, or partnership, we'll guide you through owner distributions and explain why these transfers aren't classified as expenses. This episode is a must-listen for business owners confused on how to account for owner distributions and how they work! Tune in and empower yourself with the knowledge to tackle owner distributions head-on.Support the showCreate a STAN Store - Click here to try it out!Here's where y...
2024-10-2314 minWhat Your CPA Wants You to Know84. Why Bad Bookkeeping Is Costing You Money! Common Mistakes We SeeSend us a textAre you using QuickBooks or another accounting software? Are you using it correctly?In this episode we discuss the big issues we see with Quickbooks (mainly user errors) and the biggest bookkeeping mistakes we see often.With QuickBooks subscription costs on the rise and many client complaints, we have a new tool in the works!Get excited about our new bookkeeping tool set to launch in early 2025, to simplify tax estimation and expense tracking. The tool will offer more than just basic tracking; it aims to revolutionize how...
2024-10-0917 minWhat Your CPA Wants You to Know83. Understanding Unrealized Capital Gains Tax: POSSIBLE New Tax Law!Send us a textNew tax laws coming in hot. Have you wondered what an unrealized capital gains tax could mean for you? Discover how the proposed tax changes could impact investors, from high-net-worth individuals to everyday people, and why it's crucial to stay informed even if you're not a millionaire.Join us as we discuss this proposed change and why its not as terrible as it sounds, for now! :)Support the showCreate a STAN Store - Click here to try it out!Here's where you can f...
2024-09-2509 minWhat Your CPA Wants You to Know82. Sticky Business Partnerships + Lessons Learned with Sarah MechlingSend us a textCurious about the secrets to stress-free potty training and successful business partnerships? Join us as we chat with Sarah Mechling, the brilliant mind behind Tinkle and Toot, a potty training support business for parents. We discuss the complexities of business partnerships and Sarah's previous experiences. She opens up about the importance of setting up proper legal agreements and the steps new entrepreneurs should take to protect their ventures. From obtaining an EIN to forming an LLC, Sarah shares lessons learned the hard way. Connect with Sarah!Support...
2024-09-1125 minWhat Your CPA Wants You to Know81. Teaching Kids About Finances: Practical Advice for ParentsSend us a textEver wondered how to equip your kids with the skills to manage money wisely? In this episode, we share things we do with our kids to teach them about money!We discuss how guiding your children to save for big-ticket items, like their first car, can instill lasting lessons in planning and patience. We share practical tips and strategies for integrating financial education into your parenting. This is one topic we love to talk about, come join in on the conversation with us!Support the show
2024-08-2825 minWhat Your CPA Wants You to Know80. Accepting New Clients! The Benefits of a Monthly Accounting PlanSend us a textWhat if you had a personal trainer for your business finances? In this episode, we introduce our Monthly Accounting Plan, designed to help business owners stay ahead of their accounting and tax duties, and budget for accounting services!This monthly accounting plan is a proactive, year-round CPA service. With consistent monthly consulting calls and annual tax projections, this membership-based service is here to provide ongoing support and strategic guidance, ensuring better financial health for your business.We focus on how this structured approach can lead to significant cost savings...
2024-08-1418 minWhat Your CPA Wants You to Know79. The Power of Smart SEO Strategies with Maggie Schneider of Hilltop HelpSend us a textEver wondered what increasing your website traffic could do for your business? Meet Maggie Schneider, a Squarespace web designer and SEO consultant that specializes in increasing online visibility for her clients in the health and wellness space. She started her business, Hilltop Help in 2021 looking for a creative outlet and a way to work from home while raising her two young children. She eventually left her career as a registered nurse to pursue her business full-time and has helped businesses grow their brand awareness online and get more leads and sales through strategic...
2024-07-3129 minWhat Your CPA Wants You to Know78. The Ultimate Tool for Entrepreneurs: Stan Store the All-In-One ToolSend us a textHow did managing your online business become such a technical headache? Discover a game-changing solution that’s transforming the way creators, influencers, and business owners operate. In this episode we discuss the benefits of Stan Store—a robust platform that rolls the functionalities of Shopify, Flodesk, and other essential apps into one seamless, easy-to-use tool. Inspired by a podcast featuring Stan Store's founder, we dive into the vision and motivation behind this groundbreaking software. Learn why Stan Store is becoming indispensable for those who want to enhance their digital presence without the u...
2024-07-1714 minWhat Your CPA Wants You to Know77. Common Mistakes We See Business Owners MakeSend us a textEver 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 s...
2024-07-0320 minWhat Your CPA Wants You to Know76. The Power of Humor in Marketing With Janelle Baum the Ortho InfluencerSend us a textEver 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...
2024-06-1938 minWhat Your CPA Wants You to Know75. Streamline Your Business: Our Tools + Tips for Efficiency and GrowthSend us a textEver 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...
2024-06-0533 min