Shows
Consultants and Money107. Best Business Books of 2025Happy Holidays! Erica shares her annual list of favorite business books of the year in her final episode of 2025. 00:00 Welcome 00:50 Holiday Greetings and Year-End Reflections 01:19 Favorite Business Books of 2025 03:34 Book 1: Quit by Annie Duke 05:54 Book 2: Big Magic by Elizabeth Gilbert 08:14 Book 3: Marketing Made Simple by Donald Miller 09:38 Book 4: The Five Types of Wealth by Sahil Bloom 12:10 Book 5: Tax Planning To and Through Early Retirement by Cody Garrett and Sean Mullaney 15:55 Honorable Mentions: Non-Business Reads 20:42 Holiday Wishes and Conclusion
2025-12-0921 minConsultants and Money106. Profit ≠ Paycheck: The 50/25/25 Rule to Create Personal StabilityErica talks through the often-ignored issue of why business profits don't always translate into personal take-home pay. She introduces the 50/25/25 Rule to help consultants achieve financial stability, explaining how to divide profits into owner distributions, tax liabilities, and business reserves. Erica also discusses the nuances of tax planning based on location and household income. 00:00 Intro 00:51 The Profit and Paycheck Disconnect 01:27 Introducing the 50-25-25 Rule 02:53 Breaking Down the 50-25-25 Rule 05:28 Implementing the Rule with Rolling Averages 06:36 Adjusting for Taxes 08:03 Creating Financial Stability a...
2025-11-2509 minConsultants and Money105. Tax Surprises Suck: How to Get Out of Reactive Mode for Goodwww.EricaGoode.com In this episode, Erica discusses the common issue of unexpected tax bills and provides strategies on how to avoid them. She explains why tax surprises happen to solo consultants, the concept of Safe Harbor in tax payments, and the importance of setting aside an appropriate percentage of profits for taxes. 00:51 Dealing with Surprise Tax Bills 02:36 Understanding Safe Harbor 04:21 Setting Aside Money for Taxes 05:52 Managing Tax Payments 06:56 Proactive Tax Planning ____________________ Connect with Erica | LinkedIn | Website | Newsletter
2025-11-1109 minConsultants and Money104. From C-Suite to Startup: Money Questions with Julie MassonIn this episode, Erica welcomes Julie Maison, a Chief Communications Officer for nonprofits and churches. This episode is an open Q&A session where Erica answers questions many new business owners have, including accounting concepts like cash and accrual basis accounting, the differences between an LLC and S-Corp, and the importance of accurate bookkeeping. 00:00 Introduction 00:54 Meet Julie Maison: Communications Expert 02:08 Julie's Journey to Entrepreneurship 04:20 Navigating the Challenges of a New Business 09:55 Understanding Accounting Basics 10:58 Cash vs. Accrual Accounting Explained 17:32 Planning for Financial Success
2025-10-2839 minConsultants and Money103. Forecasting for Real Life: How to Plan for Paychecks, Hiring, and Dry SpellsErica explains the importance of financial forecasting for solo consultants and small businesses. She covers how forecasting can help in stabilizing income, planning for hires, and managing cash flow during slow periods. Erica provides practical steps to start forecasting, such as listing current revenue, fixed monthly costs, owner distributions, and upcoming expenses. 00:00 Intro 01:15 Understanding Forecasting 03:18 The Importance of Forecasting for Business Owners 06:09 Steps to Start Forecasting 07:35 Practical Exercise for Forecasting 09:07 Client Case Study on Forecasting 11:12 Final Thoughts on Forecasting EricaGoode.com ____________________
2025-10-1411 minConsultants and Money102. What Clean Books Actually Look Like (And Why Yours Might Not Be as Clean as You Think)In this episode, Erica talks through into the fundamentals of maintaining 'clean' business books. She explains what clean books should look like, the common issues that can arise, and how these issues can affect financial planning and tax reporting. Erica provides tips on identifying and rectifying issues such as inconsistent categorization, unreconciled balance sheets, uncategorized expenses, misreported owner distributions, and mixing personal and business expenses. She also offers actionable steps for consultants to take to ensure their books are accurate and useful. 00:00 Introduction to Consultants and Money 00:52 Understanding Clean Books 01:53 Signs Y...
2025-09-3009 minConsultants and Money101. Retiring Often with Jillian JohnsrudIn this episode of the Consultants and Money Podcast, Erica welcomes Jillian Johnsrud, author of Retire Often. At 40, Jillian has taken over a dozen mini retirements, allowing her to live abroad, travel to 27 countries, adopt four kids, invest in real estate, and more. She discusses the concept, planning, and benefits of mini retirements, outlining steps for simplifying, automating, documenting, and delegating tasks to prepare a business for a mini retirement. Jillian offers practical advice for entrepreneurs, addressing financial concerns and demystifying common fears about taking time off. Her book, 'Retire Often', further explores these ideas. The episode is filled...
2025-09-1642 minConsultants and Money100. Big, Beautiful Bill: What Actually Changed for ConsultantsIn this episode, Erica provides an important update on the recent tax bill passed by Congress in July 2025. She breaks down the key changes in tax law that affect solo consultants, including what is leaving, what is staying, and what is brand new. Key changes discussed include adjustments to the SALT limitation, the discontinuation of residential energy tax credits and electric vehicle credits, and the extension of lower tax rates and higher standard deductions. Erica also highlights new provisions for charitable deductions, car loan interest deductions, and 529 college savings accounts. The episode aims to offer practical insights without jargon...
2025-09-0215 minConsultants and Money99. The Power of PausingGet my Monthly Newsletter here Erica encourages solo consultants to find ways to pause, whether it's taking a week off, a quiet morning, or even a month-long break. She highlights some of the most downloaded episodes for listeners to revisit during the hiatus and wishes everyone a restful and enlightening summer. 00:00 Introduction to the Podcast 00:44 Summer Break Announcement 01:11 The Importance of Pausing 02:30 Personal Reflections on Rest 03:56 Encouragement for Listeners 04:44 Recommended Episodes ____________________ Episodes Referenced: 73. [The Soloist Life] Building a...
2025-05-2706 minConsultants and Money98. Pausing on S-Corp Conversions in 2025Work With Erica Erica explains the potential savings on self-employment taxes and the trade-offs with the Qualified Business Income Deduction (QBID). Erica advises listeners to hold off on making the S-Corp election until there's more clarity on tax laws, which are expected to change with the expiration of the Tax Cuts and Jobs Act in 2025. 00:00 Intro 00:45 The Importance of Timing for S Corp Election 01:49 Understanding S Corp and QBID 02:50 The Impact of the Tax Cuts and Jobs Act 04:11 Why Waiting is the Smart Move
2025-05-1308 minConsultants and Money97. How Does Tariff Math Work?Erica explains the journey of an avocado from a farm in Michoacan, Mexico to a grocery store in the U.S., breaking down the costs involved and how a 25% tariff impacts the final price to consumers. She also talks through broader economic issues affecting solo consultants and small businesses. 00:00 Introduction to the Podcast 00:43 Understanding Tariffs with Avocados 03:26 Breaking Down Tariff Math 07:01 The Impact of Trade Agreements 08:57 Current Economic Trends for Consultants 10:53 Final Thoughts 11:23 Concierge Bookkeeping Service Work With Erica ____________________ ...
2025-04-2912 minConsultants and Money96. Weird Tax TriviaWork With Erica A little tax trivia on this April 15th… 00:43 Tax Day Anecdote 01:23 Weird and Wacky Tax Facts 03:55 Fun Facts About Money 04:40 IRS Whistleblower Program ____________________ Resources Referenced: IRS Whistleblower Office | https://www.irs.gov/compliance/whistleblower-office ____________________ Connect with Erica | LinkedIn | Website | Newsletter
2025-04-1506 minConsultants and Money95. Your Financial Check-UpWork With Erica Erica suggests four actionable tasks: checking your credit report, reviewing your social security statement, calculating your net worth, and verifying your tax withholdings. Each task is designed to take about 10-20 minutes and provides insights into your financial health. 00:43 Tax Season Reminders and Energy Credits 02:20 April Financial Checkup: Four Key Tasks 02:39 #1: Check Your Credit Report 04:12 #2: Review Your Social Security Statement 07:29 #3: Calculate Your Net Worth 09:32 #4: Review Your Tax Withholding 11:30 Recap and Final Thoughts ____________________ Resources Referenced:
2025-04-0113 minConsultants and Money94. Case Study: Spring Break on Travel PointsWork With Erica Erica and her husband Ben Goode, CPA discuss the benefits of travel credit cards over cash back cards, emphasizing the savings on taxes and the accumulation of travel miles for personal use. The conversation includes a case study of their upcoming family vacation to Mexico, breaking down the points earned from Delta and Marriott credit cards, resulting in significant cost savings on flights and hotel stays. 05:11 Business Credit Cards: Travel Rewards vs. Cashback 06:52 IRS Guidelines on Frequent Flyer Miles 10:56 Case Study: Using Business Credit Cards for Pe...
2025-03-1832 minConsultants and Money93. Best Business Credit Cards: Travel Rewards vs Cash BackIn this episode Erica addresses a common question from clients: what is the best credit card for business use? She explains why travel reward credit cards are generally a better choice than cashback credit cards for solo consultants. Erica emphasizes that travel points and frequent flyer miles are not taxed by the IRS and don't reduce business deductions, unlike cashback rewards. 00:00 Introduction to the Consultants and Money Podcast 00:50 Choosing the Best Credit Card for Your Business 01:43 Why Travel Reward Credit Cards Are Better 03:13 Maximizing Travel Rewards for Business and P...
2025-03-0409 minConsultants and Money92. Fiduciaries, Fees & Finding the Right Advisor with Luke Sauter, CPA / PFSErica sits down with Luke Sauter, a CPA, PFS, and investment advisor who shares insights on the intricacies of financial planning, emphasizing the importance of choosing a trustworthy fiduciary who provides consistent, transparent, and comprehensive wealth management services. 00:43 Meet Luke Sauter: CPA and Financial Specialist 02:34 A Personal Journey: From Corporate to Consulting 04:54 Understanding Financial Designations and Trust 09:37 The Role of a Fiduciary and Financial Planning 16:03 Building Trust and Transparency in Financial Advisory 20:56 The Importance of Regular Communication with Advisors 26:30 The Advisor Mindset Shift
2025-02-1858 minConsultants and Money90. Who can do your taxes and how much should it cost? with Steve Nay, EAGet my Monthly Newsletter here In this episode, Erica is joined by Steve Nay, a tax professional and enrolled agent, to discuss the various credentials in the tax profession including CPAs, EAs, and the Annual Filing Season Program (AFSP). The also discuss how much a tax return should cost, as well as the potential ramifications of converting to an S-corp. (00:00) Introduction to the Podcast (00:43) Meet the Guest: Steve Ney (02:01) Understanding Tax Accreditations (03:57) Differences Between CPA and EA (06:58) Tax Representation and Audits (11:11) Finding the R...
2025-01-2136 minConsultants and Money89. Turning off the noise in 2025Get my Monthly Newsletter here In this episode, Erica discusses the importance of turning off the noise that misaligns with your business goals. She emphasizes the value of starting the new year with clear intentions and filtering out content that doesn't support your unique vision. (00:00) Introduction to the Podcast (00:44) New Year Reflections and Intentions (01:08) The Impact of Noise on Your Business (03:43) Practical Steps to Turn Down the Noise (06:02) Conclusion and Final Thoughts (06:14) Stay Connected Connect with Erica | LinkedIn | Website | Newsletter
2025-01-0706 minConsultants and Money88. Best Business Books of 2024Get my Monthly Newsletter here In this episode, Erica shares her top three business book recommendations from 2024 and three bonus reads unrelated to business that left an impact on her. 00:00 Introduction to Consultants and Money Podcast 00:48 Personal Journey with Reading 02:16 Top Business Books of 2024 05:15 Bonus: Non-Business Books That Made an Impact 07:58 Closing Remarks and Holiday Wishes ____________________ Your 2025 "To Be Read" List: The Simple Path to Wealth by JL Collins | https://a.co/d/4bkAkQl Slow Pr...
2024-12-1008 minConsultants and Money87. You (Yes, you!) Might Owe Tax in Another State with Nicole McClintockGet my Monthly Newsletter here In this episode of the Consultants and Money podcast, host Erica Goode CPA is joined by Nicole McClintock, founder and CEO of Taximize. They discuss the complexities of state and local taxes (SALT), especially for consultants operating across multiple states. Nicole emphasizes the importance of understanding where your business has employees and clients, how state-specific rules can impact your tax obligations, and why it's crucial to have thorough conversations with your CPA. They also highlight the risks associated with not addressing multi-state tax issues upfront and provide practical advice on when and...
2024-11-2636 minConsultants and Money86. Retirement Plans for ConsultantsGet my Monthly Newsletter here This episode, Erica covers 4 key retirement plans: Roth IRAs, Traditional IRAs, SEP IRAs, and Solo 401ks. Erica explains the eligibility criteria, 2024 contribution limits, and special considerations based on business structure (sole proprietor, LLC, or S Corp). She highlights the benefits and potential drawbacks of each plan, offering insights to help solo consultants make informed retirement savings decisions. (00:54) Retirement Planning for Self-Employed Consultants (02:11) Roth IRA: The Favorite Child (03:55) Traditional IRA: A Flexible Option (05:46) SEP IRA: Ideal for High, Fluctuating Income (07:57) Solo 401k...
2024-11-1212 minConsultants and Money84. The Value of Trademarks for Consultants with Paulina ProperGet my Monthly Newsletter here In this episode of the Consultants and Money Podcast, host Erica Goode is joined by Paulina Proper, co-founder of District Trademark. They explore the world of trademarks, intellectual property, and strategic branding for solo consultants. Learn how to protect your brand, navigate the trademark process, and ensure your business's legal foundations are solid. Whether you're concerned about copyrights, patents, or trade secrets, this discussion provides valuable insights to help secure your brand's identity. Stay informed on how trademarks can add value to your consulting business and potentially save you from costly rebranding...
2024-10-1538 minConsultants and Money83. Unlocking Early Retirement: Joel Clermont's StoryGet my Monthly Newsletter here In this episode of the Consultants and Money podcast, host Erica Goode is joined by Joel Claremont. Joel shares his experience with Laravel, his educational business, and his revelations about financial independence and early retirement. (00:53) Meet Joel Claremont: Laravel Expert and Podcast Co-Host (01:37) Understanding Laravel and Its Applications (04:58) Joel's Journey to Financial Independence (07:46) The 4% Rule and Retirement Planning (16:59) Balancing Work and Personal Goals (21:40) Balancing Pre-Tax and Post-Tax Investments (26:46) Hiring Your Kids: Tax Implications and Benefits
2024-10-0139 minConsultants and Money82. Business Money 301: Cash ReserveGet my Monthly Newsletter here This episode talks about the importance of maintaining cash reserves for solo consultants. Erica discusses the reasons for having a cash reserve, such as covering unexpected expenses or taking advantage of sudden opportunities. (00:00) Introduction to the Podcast (00:51) Today's Topic: Cash Reserves (01:05) Why Keep Cash Reserves? (01:24) Examples of Cash Reserve Needs (03:45) How Much to Keep in Reserve (05:10) Where to Keep Your Cash Reserves ___________________ Related Episodes: 3. Business Money 101: Overview 4. Business Mo...
2024-09-1707 minConsultants and Money81. Teaching Kids About Money with Will RaineyGet my Monthly Newsletter here Erica Goode interviews Will Rainey, author of 'Grandpa's Fortune Fables,' a book designed to teach children about financial literacy through engaging stories. Will shares his backstory, including his career in financial consulting, his move to Asia, and the pivotal moment that inspired him to leave the corporate world to spend more time with his family. He discusses how he began teaching his children about money by weaving financial lessons into bedtime stories, which eventually evolved into his popular book. (00:29) Will Rainey's Background and Career
2024-09-0335 minConsultants and Money80. Buying vs. Renting a Vacation Home: A Case StudyIn the summer series finale Erica and Ben delve into a financial case study of whether it's more cost-effective to buy or rent a vacation home. (00:00) Podcast Rebranding Announcement (03:33) Should You Buy a Vacation Home? (05:16) Financial Model for Vacation Home Decision (06:48) Survey Insights and Personal Experiences (09:49) Assumptions and Details of the Financial Model (17:14) Understanding Home Value Growth Rate (18:56) Rental Assumptions and Long-Term Benefits (21:31) Investment Growth Rate in Rental Scenarios (23:05) Analyzing the Cash Flow Model (30:08) Qualitative Considerations in F...
2024-08-2035 minConsultants and Money78. Advisors, Robo-Advisors, & DIYing Your InvestmentsErica and Ben delve into different investment options, from hiring financial advisors and using robo-advisors to managing DIY investments with individual stocks, mutual funds, index funds, bonds, and money market accounts. 01:01 Discussing Summer Reads 08:27 Financial Advisors and Fees 11:17 Exploring Robo-Advisors 15:12 DIY Investing and 401k Management 24:54 Understanding Bond Funds 25:28 Investing in Index Funds 27:13 Mutual Funds vs. Index Funds 29:09 Target Date Funds Explained 31:15 Introduction to Bonds 32:22 The Bond Market and Risk 34:46 Junk Bonds and Their Appeal
2024-08-0645 minConsultants and Money77. Demystifying Tax Rates: What You Need to KnowLEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. In today's episode, Erica and Ben dive deep into understanding marginal and effective tax rates, how they impact your income, and why they're important. The episode also provides tips on managing tax withholdings and recommendations for helpful financial resources. 04:57 Listener Mail: Early Retirement Resources 06:57 Exploring Budgeting Apps: Monarch 11:16 Understanding Tax Rates: Marginal vs. Effective 20:15 Practical Tax Tips and Withholding...
2024-07-2329 minConsultants and Money76. Budgeting, Conservative Investing, Finding The Right Finance ProLEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. In this episode, Erica and Ben answer a slew of listener questions from the mailbag 02:56 Budget Tracking 07:17 When to Consult a Financial Planner 13:40 Managing Multiple Bank Accounts 18:20 Maximizing Investments for Conservative Savers 20:43 Money Market Accounts 22:47 Balancing Conservative and Aggressive Investments 24:32 Risk Tolerance 27:29 Finding the Right Tax Professional...
2024-07-0936 minConsultants and Money75. Navigating early retirement options and "bridge years"LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. **** In this episode of the 'Coaches, Consultants, and Money' podcast, hosts Erica and Ben Goode delve into key personal financial decisions surrounding early retirement. They cover the practicalities of planning for early retirement, including tax-efficient savings strategies, the implications of withdrawing from retirement accounts at different ages, and utilizing credit card points creatively for financial benefit. The episode concludes with tips for financial...
2024-06-2540 minConsultants and Money74. Should You Pay Off Your Mortgage Early?LEAVE A REVIEW! If you enjoyed this episode, do us a favor and leave a rating and review right here on your podcasting app. It helps others find the show. **** This episode from the personal finance summer series of 'Coaches, Consultants, and Money' hosted by Erica Goode and co-hosted by husband, Ben Goode, CPA, discusses the debate around whether or not it's beneficial to pay off a mortgage early. Sharing personal experiences and professional insights, they explore the pros and cons of early mortgage payoff versus maintaining it for its term. They stress...
2024-06-1130 minConsultants and Money73. [The Soloist Life] Building a Six-Figure Advisory Business (Working 15 Hours A Week)Get my Monthly Newsletter here Today Erica shares a crossover episode from the "Soloist Life Podcast" where she was interviewed by host Rochelle Mounton. In this conversation, Erica discusses the strategies that have enabled her to build a thriving six-figure business while working significantly fewer than 40 hours a week, from setting robust boundaries to leveraging automation. They also talk about the life benefits of setting work boundaries, how to boost your business efficiency using automation and delegation, and a broader definition of wealth in today's "gig economy". How important is it t...
2024-05-2841 min
Consultants and Money72 - Stop Thinking About Profit...a new KPIGet my Monthly Newsletter here As tax codes grow increasingly complex, Erica suggests a more comprehensive approach for business owners to assess their true financial health. She explains a metric she created called Total Owner Benefit and describes how it can be used to discover the full range of financial benefits derived from owning a business. These include factors traditionally excluded from profit calculations such as owner salary, health costs, and retirement contributions. Discover why Total Owner Benefit is important to business owners, how it differs from plain profit, how it can influence ta...
2024-05-1412 minConsultants and Money71 - What to Budget for When Writing a Book with Stephanie ChandlerGet my Monthly Newsletter here Author and CEO of the Nonfiction Authors Association, Stephanie Chandler, joins Erica in this educational and engaging discussion about how business owners can use a book to build their business. Some of the questions Stephanie answers are: What's the benefit of writing a non-fiction book? How do I know what to write about? What costs do I need to budget for when planning a book for my business? What is the process of writing a book - how do I get started? Wh...
2024-04-3036 minConsultants and Money70 - What Are the Odds of Getting Audited?Get my Monthly Newsletter here In honor of yesterday's "Tax Day" - Erica addresses the question that is often high on our minds. And the answer should be encouraging! Links to Resources Mentioned: Congressional Research | Distribution of IRS Audits by Income and Race The IRS's First-Time Penalty Abatement | Forbes article Until next time, may your week be filled with empty mailboxes and profit… Connect with Erica Goode, CPA | LinkedIn | Monthly Newsletter | Website
2024-04-1607 minConsultants and Money69 - SEP vs Solo 401(k) with Sean Mullaney, CPA Get my Monthly Newsletter here Today Erica is joined by Sean Mullaney, a Los Angeles-based advice-only financial planner and author of "Solo 401k: The Solopreneur Retirement Account". Sean shares his expertise on the differences between SEP IRAs and Solo 401(k)s, the benefits of each, and why most solopreneurs might favor the latter for their retirement savings. Some of the questions they discuss are: What is the difference between a SEP IRA and a Solo 401(k)? How can an advice-only financial planner benefit your retirement planning? Can a Solo 401(k...
2024-04-0239 minConsultants and Money68-No Pain, No _______Get my Monthly Newsletter here Whether it's growing fast…or slow…today Erica shares some encouragement as you move forward in your business. Hint: growth doesn't have to be accompanied with pain! And in the meantime, may your week be filled with healthy growth, and profit… Connect with Erica Goode, CPA | LinkedIn | Monthly Newsletter | Website
2024-03-1905 minConsultants and Money67 - Happy Hour: Cost-Saving Travel HacksGet my Monthly Newsletter here In this happy hour bonus episode, Erica and Ben crack a beer and talk about top-of-mind money topics like: saving money on hotels and rental cars update on Erica's Southwest points hack cheap first class airline tickets Mentioned in the episode: Camp Vibes by 10 Barrel Brewing Ep18 - Free Airfare for 2 Years with this Credit Card Hack Points.me Connect with Ben Goode, CPA | LinkedIn Connect with Erica Goode, CPA | LinkedIn | Monthly Newsletter | Website
2024-03-1225 minConsultants and Money66-BONUS: Live BOI (Beneficial Ownership Information) Application WalkthroughGet my Monthly Newsletter here This episode of a LIVE walkthrough of Erica filing her own BOI (Beneficial Ownership Information) reporting via the FinCEN website. If you haven't already, listen to Episode 65 first. Important links mentioned in this episode: Link to BOI Reporting | https://www.fincen.gov/boi BOI Brochure | https://www.fincen.gov/sites/default/files/shared/BOI-Informational-Brochure-April-2024.pdf Exemption from Reporting | https://www.fincen.gov/boi-faqs#C_2 Connect with Erica: Instagram LinkedIn
2024-03-0515 minConsultants and Money65-New Reporting Law for Consultants & Small Agency Owners (BOI FinCEN reporting)Get my Monthly Newsletter here Today Erica talks about the brand new Beneficial Ownership Information (BOI) reporting law, which went into effect on January 1, 2024. Geared toward small business owners, consultants, and agency owners, this law mandates reporting to the Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Department of Treasury. Inside, you'll find the answers to such questions as: What is the Corporate Transparency Act? Who is exempt from these requirements? Can I file my BOI report myself, or do I need a professional? ...
2024-03-0511 minConsultants and Money64-To Hire or Not To Hire: Staying Solo with Geraldine CarterGet my Monthly Newsletter here Welcome to part 2 of the mini-series "To Hire or Not to Hire." Today Erica talks with Geraldine Carter, a business coach who works with CPAs to help them go down to a forty-hour, then twenty-five-hour, and then eventually fifteen-hour work week without losing revenue. Their deep-dive discussion covers strategies for optimizing work hours and productivity without necessarily expanding the team. Just another approach to growing a profitable business! Find the answer to these questions inside… How can coaches and consultants scale their busi...
2024-02-2049 minConsultants and Money63 - Happy Hour: LASIK, HSAs, Simple Path to Wealth, Donor-Advised Funds (DAFs)Get my Monthly Newsletter here In this happy hour bonus episode, Erica and Ben crack a beer and talk about top-of-mind money topics like: Is LASIK covered by insurance? What items are HSA eligible? Can you use your HSA for a medical hotel stay? How much is medical mileage? Book Review: Simple Path to Wealth by JL Collins How can a donor-advised fund (DAF) save you taxes? Links to Topics Mentioned: Cold Smoke Scotch Ale | KettleHouse Brewing Co Ben's LA...
2024-02-1331 minConsultants and Money55-3 Things You Need to Change When Becoming an S-CorpIn this episode, Erica talks through what needs to change in your business once you convert to an S-corp for IRS tax purposes. Covered in this episode: When to start considering an S-corp Paying yourself as an employee Reasonable compensation Accountable plans (i.e. employee reimbursement policies) Business tax returns (1120-S) Related episodes: Ep 25 - How to Pay Yourself From Your Business Ep 21 - What's an S-Corp and When Should I Become One? Ep 30 - Extending Your Tax Deadline Book a strategy session wi...
2023-11-2814 minConsultants and Money54-Thanksgiving Wishes from CC+MWishing you a very happy Thanksgiving! With Much Gratitude, Erica
2023-11-2102 minConsultants and Money53-Elevate Your Money Mindset with Sheila Hansen, CPABook a Strategy Session Today I welcome fellow CPA and Certified Life Coach, Sheila Hansen to the show. Sheila supports creative service providers, providing financial support to business owners such as copywriters, photographers, social media managers, coaches, and speakers. Our conversation covered such topics as: What is a "money mindset," what a healthy one looks like, and how it drives your "financial behavior" How and where do children develop money mindsets: nature vs nurture? Money mindset within marriage and the family The shift that occurs when moving from being an employee to...
2023-11-1446 minConsultants and Money52-Navigating the Transition: Starting A Private Practice as a Mental Health Professional, with Kate StewartThis week, I talk with Kate Stewart, LCPC who recently went from being a W-2 employee to a private practice and small business owner as a mental health professional. In today's conversation, we cover: employee-to-business owner mindset using a spreadsheet vs QuickBooks how no one ever taught us business tax in high school small business retirement Related episodes: 43 - How Do I Roll Over an Old 401K? 37 - Gaining Confidence in Making Business Decisions Reach out to Kate on LinkedIn: https://www.linkedin.com/in/kate...
2023-11-0722 minConsultants and Money51-Planning 2024 as a $1M Agency Owner$1 million IT / marketing / cybersecurity / consulting agency owners - this one's for you! Today we're diving right into the $1M agency owner's planning process. (And if you're not there yet, you may want to listen anyway, so that you're prepared for the future!) Considering revenue, human resources, travel plans, taxes, etc, I run through a handful of questions to consider as you plan for a successful 2024, such as: Do you have contracts that are expiring? Is your retainer pricing or hourly billing rate going to change? How are your HR costs? How will your team...
2023-10-3113 minConsultants and Money50-How Data Drives Revenue with Sarah WaltonSarah Walton, business coach and sales expert, is deeply passionate about empowering women to take control of their finances. In this interview, she delves into the power of exploring and analyzing data to boost your bottom line. Sarah Walton is a business coach and sales expert who's been featured on The Today Show, speaks at women's conferences all over the world and has helped hundreds of women start and grow businesses they LOVE. From growing up in a low-income household with a single mom to helping moms turn their passion i...
2023-10-2448 minConsultants and Money49-The Zero-Tax MythBook a Strategy Session with Erica In this episode, we dive deep into the often-discussed topic of paying zero taxes. Does it sound too good to be true? It might be. Erica explains 3 legitimate and specific strategies you can use to minimize them as a consultant, coach or small agency owner. Resource referred to in this episode - The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make (on Amazon) Other recommended episodes: 7 - Business Money 101: Bookkeeping Practices 21 - What's an S...
2023-10-1710 minConsultants and Money48-Blending Business Models with Sales Maven, Nikki RauschBook a Strategy Session with Erica One-to-One, Group Coaching, Membership Programs...there are many business models to apply to coaching and consulting businesses. Today, Erica does a deep dive with guest Nikki Rausch, about her unique blended business model and programs. If you're confused about how to set up your own business and what type of platforms to use, take a listen. They talk about how she got to where she is today, and you'll be inspired to assess your own model and be open to change! Pick up Nikki's free g...
2023-10-1037 minConsultants and Money47-Business Money 201: Charitable GivingPODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter! As Erica continues to talk about developing habits of consistency in your business, she discusses the important concepts of giving back and charitable giving. Take time to think about the questions she poses at the end! If you've missed the other episodes in Business Money 201, find them here: 44 - Business Money 201: Cashflow Consistency 45 - Business Money 201: Paying the IRS 46 - Business Money 201: Paying Yourself Related resources - Best Friends Animal Sanctuary, Kanab, UT...
2023-10-0313 minConsultants and Money46-Business Money 201: Paying YourselfPODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter! You started a business, not a hobby, so you know how important it is to pay yourself consistently. In this episode of the Business Money 201 series discover business planning strategies that will help you do just that. This series builds on information that was presented in the Business Money 101 series. If you haven't listened to those 5 episodes yet, they start here: 3 - Financial Foundations Other recommended episodes: 22 - Cash flow Forecasting and Business Planning ...
2023-09-2611 minConsultants and Money[BONUS 4] 5 Cheapest States to go to CollegeIt's back to school season! On this bonus Happy Hour episode, Ben and Erica talk through in-state public college tuition costs. Highlights: Top 5 most expensive states for in-state college tuition Top 5 cheapest states for in-state college tuition How much you need to save each month to pay for your kids college years Stacker Article: "States with the cheapest in-state public colleges" Beer: Hazertag from Odell Brewing Co (Fort Collins, CO) Connect with Ben LinkedIn Instagram Connect with Erica: Instagram Linked...
2023-09-2229 minConsultants and Money45-Business Money 201: Paying the IRSPODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter! Episode 2 of the Business Money 201 series contains information on how to figure out how much you need to set aside for the IRS in your business - and how to get it to them. This series builds on information that was presented in the Business Money 101 series. If you haven't listened to those episodes yet, they start here: 3 - Financial Foundations Other recommended episodes: 20 - Tax Basics for Coaches and Consultants - With Ostriches and Salad...
2023-09-1910 minConsultants and Money44-Business Money 201: Cashflow ConsistencyPODCAST REVIEW GIVEAWAY - enter before Oct 8, 2023! Click Here to Enter! In this first episode of Business Money 201, continue to discover information to make the money run smoothly in your business and your life! This series builds on information that was presented in the Business Money 101 series. If you haven't listened to those episodes yet, find them here: 3 - Financial Foundations 4 - LLCs and EINs 5 - Business Insurance 6 - Bank Accounts 7 - Bookkeeping Practices Make sure you subscribe so you don...
2023-09-1207 minConsultants and Money43-[Retirement] Rolling over an old 401kEricaGoode.com Info on what to do with an investment account you may have had through your old, corporate job, now that you're self-employed and on your own. I'm talking old 401ks and rollover IRAs today. Connect with Erica: Instagram LinkedIn Email List
2023-08-2909 minConsultants and Money42-BONUS Happy Hour Book Review - Die With Zero by Bill PerkinsEricaGoode.com Another Bonus interview with the debit to my credit, fellow CPA Ben Goode. We're talking about the book Die With Zero: Getting All You Can From Your Money and Your Life, by Bill Perkins while enjoying a cold one from the Grand Teton Brewing Company Some of what we cover: How much money should we save over a lifetime When's a good time to give it away? The concept of time-bucketing And so much more! Find Die With Zero on Amazon...
2023-08-1841 minConsultants and Money41-[Personal Taxes] Tax Credit for Summer CampEricaGoode.com Info on how to use the Child & Dependent Care Tax Credit to save money on your taxes when you send your kid to summer camp. Referenced Links: IRS Info Page - https://www.irs.gov/credits-deductions/individuals/child-and-dependent-care-credit-information Connect with Erica: Instagram LinkedIn Email List
2023-08-0813 minConsultants and Money40-[Personal Taxes] $1,200 Tax Credit for Home ImprovementsEricaGoode.com Info on the new Energy Efficient Home Improvement Credit worth $1,200 each year for the next 10 years! Referenced Links: IRS Info Page - https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit Energy Star - https://www.energystar.gov/ Form 5695 Residential Energy Credits - https://www.irs.gov/forms-pubs/about-form-5695 Connect with Erica: Instagram LinkedIn Email List
2023-07-1115 minConsultants and Money39-Taxes & running your business abroad with Laurie Marson, CPAThinking about spending time abroad and running your coaching or consulting business outside of the US? In this episode, I'm joined by Laurie Marson, CPA, who breaks down the complexities of working as a self-employed expatriate and how it affects your taxes. Find complete show notes here: https://www.ericagoode.com/podcast/ep39 Connect with Laurie Marson: http://www.marsonaccts.com/ laurie@masonaccts.com Connect with Erica: Instagram @erica.goode.cpa LinkedIn: Erica Goode, CPA Newsletter sign-up: https://www.ericagoode.com/newsletter-signup ***FRE...
2023-06-1337 minConsultants and Money38-Top Episodes & Summer PlansThis episode talks about: Top episodes since the podcast launch Future plans for the podcast Episodes Referenced: If you're just starting out: Ep 3 (10/4/22) - Business Money 101: Financial Foundations Ep 4 (10/11/22) - Business Money 101: LLCs & EINs Ep 5 (10/18/22) - Business Money 101: Business Insurance Ep 6 (10/25/22) - Business Money 101: Bank Accounts Ep 7 (11/1/22) - Business Money 101: Bookkeeping Processes If you're thinking of scaling your business: Ep 29 (3/28/23) - Scaling the soloist business model with Jonathan Stark and Rochelle Moulton Ep 24 (2/28/23) - The truth about membership programs with Natalie Eckdahl If you have the same question everyone else has: Ep25 (3/7/23) - How to...
2023-05-3006 minConsultants and Money37-Gaining Confidence in Business Decisions with Fathom Do you want to feel empowered in your small business financial decisions? Are you tired of feeling unsure about your finances? Today I'm sharing an interview with Fathom, the financial forecasting software that I use. We discuss a solution - proactive financial planning that leads to decisive and confident choices. Say goodbye to financial stress and hello to financial confidence. When you can avoid guessing, you have an opportunity to make an educated decision that you feel confident about. - Erica Goode Learn more about Fathom here. ...
2023-05-2329 minConsultants and Money36-Navigating Midlife with Olympic Gold Medalist, Joe Jacobi"To help people ignite their second wind, and to confront midlife transitions with meaning and adventure." Olympic gold medalist, author, performance coach, resident-of-Spain, and mid-lifer, Joe and I connect some of the dots between midlife transitions, spiritual components, financial preparedness, how to "do the work" and (maybe more importantly), how to let go! As he shared his personal story, some of the topics we covered are: What exactly IS midlife? Some of the deep, powerful, and meaningful, work he processed The relationship between purpose and our inner/outer voices How to reset and redefine h...
2023-05-1645 minConsultants and Money35-Saving Money with ChatGPT Can ChatGPT save your business money? Can ChatGPT make the hours you work more profitable? How can we as business owners leverage the power of AI to make our services more fluid, and our processes more time-efficient? Tune in to today's episode where I answer these burning questions...and more. And I'll provide some inspiration for not only how to use it in your business...but why! (Using ChaGPT, of course!) AI will never replace what only YOU can provide to your clients, but as a soloist, AI can help you be more profitable and e...
2023-05-0914 minConsultants and Money34-Happy Hour Retirement Talk with Ben Goode, CPA - Part 2Last week I shared pat 1 of a happy hour conversation that my husband and fellow CPA, Ben Goode, and I had about retirement. If you haven't already, you can catch that episode here. Today we're wrapping up our conversation and talking through... Social Security - will it be here when I'm ready to retire? Updates about Congress' new law, the SECURE Act 2.0 (and what it means for you) How college savings and retirement savings can play together And a neat trick that allows you to travel around t...
2023-05-0222 min
The Accounting PodcastWhat AI Will Automate In Accounting with Erica Goode, CPAFTX had 80,000 transactions in Ask My Accountant; the crazy cost accounting behind EY's failed breakup; using ChatGPT for financial statement analysis; what the tech world thinks AI will automate in accounting and more!SponsorsLiveFlow - https://cloudaccountingpodcast.promo/liveflowChapters(00:00) - CAP 329
(00:39) - PREVIEW: How ChatGPT saved Erica
(01:09) - Introduction
(07:48) - FTX had 80,000 transactions in Ask My Accountant
(12:04) - Blake plays a clip from the All-In podcast on AI accounting
(17:25) - ChatGPT vs real accountants and students on tests
(25:48) - Hector Garcia's example of using ChatGPT for analysing financial statements
(31:24...
2023-04-271h 11Consultants and Money33-Happy Hour Retirement Talk with Ben Goode, CPA - Part 1In episode 12, I had a casual conversation with fellow CPA, and my hubby, Ben Goode about Top Idaho Breweries and Tax Write-Offs Today's episode is part 1 of another "Happy Hour" conversation, where we're talking about retirement plans (ours and things you might want to think of, too) and sharing our thoughts on these topics: Can you save too much for retirement? Retirement savings for W-2 earners vs. small business owners Different retirement savings plans for the self-employed and the approach they need to take. Check back next week for...
2023-04-2523 minConsultants and Money32-Happy Tax Day!Happy Tax Day! This is your friendly reminder that if you haven't already, today's the day our taxes are due. And if you've filed an extension - no shame in that, either - you still have to pay Uncle Sam if you owe them anything. So there's that :-( But to help take the sting out of the day, check out some of the Tax Day deals I found! How does a no-cost cookie, discount chicken meal, or free hydromassage sound? See, it's not all bad... Find some sweet "tax day"...
2023-04-1804 minConsultants and Money31-Should I be Paying Quarterly Estimated Taxes?There are good surprises…and bad ones. Bad ones can happen when you haven't been on top of your quarterly estimated tax payments. So today that's what I'm talking about, and how you can prevent a bad surprise. I'll explain: What exactly are estimated payments, When quarterly estimated payments are actually due (take notes, 'cause they are not exactly quarterly), Who this applies to and how to figure out how much money to set aside, Ways you might get "into trouble", and finally How to do a...
2023-04-1117 minConsultants and Money30-Extending Your Tax Deadline: Do I Still Have to Pay On Time?Get me in your inbox Tax season is almost here, which means one of two things: You're all ready to file and pay and move on with life, or... You're all ready to file an extension and keep working on getting your "tax act" together Either way, the bottom line of today's episode is something we all need to know. I'll be talking about: How a tax extension is defined by the IRS How penalties work: how much they are and when they start The...
2023-04-0411 minConsultants and Money29-Scaling the Soloist Business Model with Jonathan Stark and Rochelle MoultonAs a bookend to episode 24, where I talked about an agency business model, today I interview Jonathan Stark and Rochelle Moulton, co-hosts of "The Business of Authority" podcast. We discuss how you can still scale up your business using a soloist or solo consultant model, including: The business of scaling up and creating leverage without the agency model How to get past being paid per hour (creating leverage) Common income plateaus and how to shift into a more profitable situation What to consider as you hit that plateau...
2023-03-2844 minConsultants and Money28-Which Business Model is Right for Growing Your Business?Everyone has a "trailhead" at the start of their business. There are many business models to choose from, but when you're first starting out, you often don't have a clear vision of what your business will look like in 5 years… Eventually, if you want to meet goals and continue to grow your business, you'll need to know how you will move forward. Only you know what business model fits your goals and will help you achieve what you want. Listen to today's episodes for some thoughts on possible business models, and how you ca...
2023-03-2110 minConsultants and Money26-Mailbag Questions #1: IRS audits, Bookkeeping AI, New Business TaxesGet on the email list I'm responding to a few questions that I've received in my DMs and email from clients and listeners. Maybe one of them is yours! (And if it isn't and you DO have a burning question, please send it along and I may answer it in a future episode.) Questions answered: 1 - "How do you file taxes when you just start a business and have minimam profit? Can I still file with my spouse?" 2 - "What do you think of FlyFin and other bookkeeping AI? ...
2023-03-1420 minConsultants and Money25-How to Pay Yourself from Your Business - Salary vs Owner Distributions vs ProfitToday I'm sharing the short-but-sweet answer to a question that is on EVERY new business owner's mind: "How do I pay myself?" It's really not a complicated answer, but here it is: How you pay yourself from your business depends on how your business is structured (legally) and taxed (by the IRS) I'll talk through: How to take an owner distribution How frequently I recommend paying yourself Paying yourself as a sole proprietor vs an LLC vs an S-corp ***** And if you need...
2023-03-0710 minConsultants and Money24-The truth about Membership Programs with Natalie EckdahlAre you planning to add an online membership program to your business in 2023? Some entrepreneurs see a membership as a way out of done-for-you service work. And many business owners are under the impression that memberships are easy to launch and scale, but they don't always turn out to be the easy money-makers they seem to be. You CAN scale your service-based business without memberships, or other group programs. In this loaded interview Natalie Eckdahl, CEO of Biz Chix, and I talk through the pros and cons of having a membership site and...
2023-02-2854 minConsultants and Money23-Maximize your profitability by understanding your customer's lifetime value**MAIL BAG LINK** Have a question about business money, taxes or QuickBooks? I want to hear them. I'm doing an upcoming "Mail Bag" episode where I will answer your questions. Here's the link to my "Mail Bag" - submit a question for me to answer on the Podcast. Remember, no question is "little" or "silly". And if you're still nervous, I'm happy to keep them anonymous. Oftentimes service-based business owners, such as coaches and consultants, fail to consider the long-term value that they can bring to their clients and the lif...
2023-02-2113 minConsultants and Money22-Cash flow forecasting and business planning with Erin HarriganBusiness coach, Erin Harrigan and I recently met for a planning strategy session, and she shares not only how she approached cash flow planning and paying herself before we'd met, but more importantly, what changed after our session. If you think a strategy session may help you, you're in luck! I've opened up my waiting list and will be filling up my calendar starting this April. Get on the waitlist now by using this link: https://www.ericagoode.com/contact Erin Harrigan is a Christian wife, empty nest mom, speaker, author, and business c...
2023-02-1440 minConsultants and Money21-What's an S-Corp? And When Should I Become One?Ever heard of the term "S-corp"? No clue what it means? No? Perfect - you're in the right place. In today's episode, we're talking all about S-corp basics. This is for the business owner who has less than $100K in revenue and has heard the term but has no clue what it means. Or just someone wondering if they should be an S-corp. (Spoiler alert: you'll know by the end of this episode!) We'll be talking about: The definition of an S-corp, and how it differs from an LLC How the IRS taxes them (as...
2023-02-0717 minConsultants and Money20-Tax Basics...with ostriches and saladsToday we're hitting tax basics at a really high, 30,000 ft view level. A level that that anyone can understand. I'm not saying you have to actually do your own taxes after this (I trust that it's probably not your favorite thing), but you can at least feel confident in talking about it and thinking through it for your business. In this episode, I will explain the basic flow of your business taxes, which includes: The role of (and reason for) clean bookkeeping What exactly a P&L is, and how it fits into your t...
2023-01-3126 minConsultants and Money19-Are you REALLY selling grill brushes?I recently received an ad for grill brushes. It brought back some memories about a story I'd heard years ago... Which got me thinking about my business - and yours. Your takeaway in this short-but-sweet episode: Whether you sell a product or a service, think about your customer and what they are actually buying when they work with you. It may change the way you look at not only what you do, but how you market it! Listen in for all the details! Connect with Erica: Instagram @erica.goode.cpa Lin...
2023-01-2406 minConsultants and Money18-Free Airfare for 2 Years With This Credit Card HackI'm sharing a bit more about your personal money than your business in today's episode. (But hey, if you can spend a little less in your personal life…that means you don't have to work as hard to make more in your business, right?) This is a legit process that I use and have used with my own family to save money when we travel. Enter the free Companion Pass on Southwest Airlines! (And if you're still a bit sore at them after the 2022 holiday travel mess, or Southwest doesn't fly out of your airport) lo...
2023-01-1731 minConsultants and Money17-Moving from Corporate to Consulting with Karen LaosIndeed there is no one way or "right" way to go from corporate to entrepreneurship. In today's episode, I interview Karen Laos and we compare notes about our own journeys. If you're on the fence, or ready to jump, into being your own coach or consultant, this is THE episode to listen to. Karen Laos, a communication expert and confidence cultivator, leverages 25+ years in the boardroom and speaking on the world's most coveted stages to guide corporations and individuals with her tested communication model to generate consistent results for women leaders as a coach, corporate...
2023-01-1041 minConsultants and Money16-Update - 1099 Law ChangeNEWS FLASH! There was a 1099 law change on Dec 23rd (after I recorded the original Episode 16 that dropped today). First, listen to Episode 16 Then, listen to this bonus to find out: What the law change was What it means for coaches and consultants filing 1099s in January 2023 Connect with Erica: Instagram @erica.goode.cpa LinkedIn: Erica Goode, CPA Newsletter sign-up: https://www.ericagoode.com/newsletter-signup
2023-01-0307 minConsultants and Money16-Who Do I Need to Send a 1099 To?Happy New Year and "welcome back" to business... This is an intense, but necessary episode. Inside I cover: What is a 1099? Who you need to send a 1099 to and who you don't? How do you send a 1099? What to do when you receive a 1099? It's a lot, so save this episode, go back and listen to it - but don't ignore your 1099s ***FREE Tax Deduction Guide*** Don't forget to download my free guide called 6 Don't-Miss Tax Deductions for Coaches. There's a simple cheat sheet included for those of yo...
2023-01-0322 minConsultants and Money15-Is Your Christmas Present Tax Deductible?Hey, I have to pay taxes...you have to pay taxes...we all have to pay taxes! But don't pay more than you have to! Take a listen to episode 13 for what you can't deduct...but listen in to see what you CAN deduct this Christmas! I'm soo happy to share this with you! ***FREE Tax Deduction Guide*** Don't forget to download my free guide called 6 Don't-Miss Tax Deductions for Coaches. There's a simple cheat sheet included for those of you who like to skip to the en...
2022-12-2712 minConsultants and Money14-Top Business Books of 2022I've never been a big fan of reading, but once I found the genre that caught my interest, I was hooked. So grab a cup of something that warms you up, get comfy by the fire, and listen as I share my "top 3" business book titles, and why! #1 - The Psychology of Money by Morgan Housel #2 - Miss Independent by Nicole Lapin #3 - Rejection Proof: How I Beat Fear and Became Invincible by Jia Jiang Bonus: Come Fly the World by Julia Cook ***FREE Tax Deduction Guide***
2022-12-2011 minConsultants and Money13-What You SHOULDN'T Deduct As a Coach or ConsultantHere's a list of things I see lots of coaches or consultants try to deduct on their taxes. Check yourself, or better - check with your accountant - before you write these off. I may get some pushback on this, but, friends, trust me, the IRS won't like it ;-) Listen to my list of 3 and feel free to let me know your thoughts. And definitely stick around to the end where I explain a mileage deduction adjustment that the IRS implemented this year which you may not know about! ...
2022-12-1308 minConsultants and Money12-Idaho Special: Top 3 Breweries and Tax IncentivesToday, I have a VERY special episode with fellow CPA (and my hubby!), Ben Goode. Together, we're going to hit on our Top 3 Idaho Favorites...HIS: Idaho breweries, HERs: Idaho Tax Credits and Deductions From a tax standpoint, I'll hit tax incentives that are specific to Idaho residents: Educational charitable giving 529 / college savings plans in Idaho Wood burning stove replacements Plus, you get to hear our married banter :o) Enjoy! ****** FREE TAX GUIDE for COACHES Get it here!! ****** Connect with Ben...
2022-12-0637 minConsultants and Money11-The Right Time to Start Charitable Giving**Subscribe to my newsletter here** Today is Giving Tuesday - the day we're all "supposed to" give. So I'm talking about generosity in your business… Some of us are waiting for the perfect moment to start giving...to start being generous. We have these fluid goals inside our heads - filled with goals that keep changing. But here's a news flash (not): there IS no perfect time to start giving! We can start giving ANYtime Because ~ the act of giving is more important than the a...
2022-11-2917 minConsultants and Money10-Happy ThanksgivingHappy Thanksgiving! ***6 DON'T MISS TAX DEDUCTIONS FOR COACHES*** Get the FREE guide here Full show notes: ericagoode.com Instagram: @erica.goode.cpa LinkedIn: Erica Goode, CPA
2022-11-2201 minConsultants and Money9-2023 Planning - 3 questions to ask yourself"If we don't pay attention to where you're driving your business, it won't end up where you want it to go." Today I'm talking about business planning for the coming year. I dig deep into 3 crucial questions to ask yourself as you sit down and strategize what 2023 will look like for your business. Here's what a client of mine had to say after we did this exercise for 2022: "I was floundering, and you've helped iron out what I have and given me hope for the future. I've been looking over and...
2022-11-1516 minConsultants and Money8-Increasing Your Prices, with Podcast Coach Wren RobbinsIn today's episode, I welcome Wren Robbins, Podcast Coach! In our first-ever interview with a bona fide coach, we dig deep into real talk about coaches-and-money. On a personal note, Wren shares a bit about her own background, how she got started in her business way back when…and what her business looks like today. On a business-money note, we talked about: Pricing: how do you know what to charge in the beginning? Beta program pricing Buying Psychology: offering options to encourage buyers Money mindsets: be comfortable with what you charge The relationship between va...
2022-11-0839 minConsultants and Money7-Business Money 101: Bookkeeping Processes"Nothing is certain except death and taxes." Benjamin Franklin wasn't trying to sound morbid when he said that, and neither am I. But at the end of the day, you DO have to pay your taxes, and if you don't keep up with them, well…I promise it will catch up with you. So in this episode, I'll be talking about bookkeeping, the one way to ensure that you keep all things money clear and straight in your business. And the only reason you really need to maintain some form of bookkeeping/accounting sy...
2022-11-0116 minConsultants and Money6-Business Money 101: Bank AccountsToday we are continuing our foundational mini-series on business money by talking about bank accounts. Now, just to be totally transparent here, I didn't know what I was doing about setting up an account when I first started my business, either. I felt dumb and naive walking into the bank, and I suspect you might be feeling the same way, too. But I don't want that for you. In this episode, I'll cover: Why you want (and need) a separate business account To protect your personal assets To keep things clean for t...
2022-10-2523 minConsultants and Money5-Business Money 101: Business InsuranceNow, I'm sure you work with "nice people", and you may even think you don't need insurance because you're not selling a product, but let me encourage you to listen up, anyway! Today I'm covering : why you do need insurance what base level insurance covers the definition of Liability/General Liability Insurance an important consideration if you plan on running or hosting an event how to start "shopping around" for insurance Your homework today: poke around for 15-30 minutes online with a current insurance provider for quotes for (or go ahead and purchase!) your business i...
2022-10-1819 minConsultants and Money4-Business Money 101: LLCs & EINsNo, friends, it's not a recipe for alphabet soup! It's all about setting a firm foundation for your business! In this episode, I discuss: The difference between a sole proprietorship and an LLC How they differ in terms of your personal asset protection How they affect your bottom line tax-wise When to set up an LLC, and how (it's not as hard as you'd think!) The answer to the question: do I need a lawyer to do this? Finding your State's Secretary of State (and I walk you through a sample set-up) How to set up...
2022-10-1128 minConsultants and Money3-Business Money 101: Financial FoundationsThis week I'm starting a 4-part mini-series. So I took a little trip down memory lane to draw a colorful correlation between my family home - and how important it is for YOU to set up a firm financial foundation. You may think you know what I'm gonna say…but you may also learn a thing or two in the process - and be entertained by my reminder (wink-wink). So tune it! Find my show notes here: ericagoode.com/podcast Reach out on social media and say "Hi!" on IG - @erica.goode.cpa Or...
2022-10-0411 minConsultants and Money2-A "No Money Shame" ZoneWhether you don't take care of your hair, or you haven't been taking care of your finances, be assured this is a "shame-free zone." You're here, and that's what matters! I'm not here to judge you…so don't judge yourself, either. In today's episode, I just want to set your fears to rest. So let's move forward together! Find my show notes here: ericagoode.com Reach out on social media and say "Hi!" on IG - @erica.goode.cpa Or on LinkedIn: Erica Goode, CPA Podcast Review Giveaway Between no...
2022-10-0407 minConsultants and Money1-We Speak English HereDo you ever feel like money people speak in a foreign language? In today's episode, I recall holiday dinners where everyone around me actually was speaking another language! So today I'm making a pledge to you...and ask that you'd help me be accountable. Find my show notes here: ericagoode.com/podcast Reach out on social media and say "Hi!" on IG - @erica.goode.cpa Or on LinkedIn: Erica Goode, CPA Podcast Review Giveaway Between now and Oct 21st, leave an Apple Podcast review for Coaches, Consultants, and Money and be entered...
2022-10-0409 minConsultants and MoneyWelcome to Coaches, Consultants and Money!"Did you Google your tax advice this year?" Perhaps, but that's not really the best idea - and you don't need to do that anymore! Erica Goode, CPA, is a former director of finance with a Fortune 50 company and auditor at a Big Four company. Today, she's into YOUR business! Speaking to coaches and consultants who are business owners, her goal is to be a free resource for reliable money advice so they can make smart decisions with their finances. She'll be addressing some personal money matters, too - because we're more than just business o...
2022-09-1202 min