Finances: How To Get Yours in Order with guest Serena Shoup

Wondering about your finances?  How do you know what to pay for taxes?  What can you write off?  How do you keep track of your money and know how much you’re making?  Guest Serena Shoup, a CPA who works with business owners, is here to answer all your questions.  This episode is a must listen to/ know how for every business owner! Being aware of the finance aspects of your business is empowering. Your finances are the foundation of your business. Serena has lots of knowledge and helpful advice to help you make sure that your foundation is a strong one.  Grab a pencil and paper to take notes…your finances are about to get in order!

In this podcast episode you will learn:

• What the basic “must knows” are and helpful tips for successfully managing a business. Serena shares insightful information, especially for new business owners…such as making sure you keep receipts for EVERYTHING, documentation and business bank accounts.
• What is the best way to keep track of business expenses? 
• Do you know what your profit is in your business? What should you be paying yourself?
• The dreaded taxes! Serena shares what you will need for reporting taxes as well as how much you should be setting aside to be prepared to pay them. She also talks about sales tax- including things like digital products, memberships and courses. Serena shares resources for tax questions and help.
• Are you doing business out of your home? What can you claim as a tax right off?
• What if you’re just starting out and you don’t have a large nest egg to help get your business up and running? Hear her advice. 
• She talks about the Profit First Method. She also answers questions about pricing products and profit margin. Is it normal to not see much profit in the first year of business?
• What you should look for when finding a bookkeeper.