7 posts categorized "CPAPowered" Feed

Top considerations when building a business out of your home

Shutterstock_615508904Whether you’re an Etsy shop owner or a CPA seeing clients out of your home office, there are a variety of things that vary from owning a brick and mortar business. I recently spoke with Kelly Ward, CPA and co-owner of Robinson & Ward, P.C., on The Small Biz Brunch podcast, and she provided the following tips for entrepreneurs looking to build a business out of their home. 

Don’t wait to invest in a trusted adviser

Instead of waiting until you’re drowning in financial problems, Ward recommends seeking out an expert’s advice at the very beginning. For example, it’s a lot easier to prepare for certain tax implications before launching your business, rather than paying a huge tax bill come April. A CPA can help prepare entrepreneurs depending on their situation so there aren’t any surprises – because let’s be honest, there’s nothing worse than getting surprise in the mail from the IRS. 

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Financial tips for female entrepreneurs

Shutterstock_416503771As the host of The Small Biz Brunch podcast, I’ve interviewed some amazing entrepreneurs and CPAs who are changing the world. When I reflect on episodes I’ve recorded over the past six months, some of my favorite have been about women disrupting their industries and paving the way for future generations. And while it’s important to celebrate female entrepreneurs throughout the year, Women’s History Month provides a timely platform for important conversations. 

I recently chatted with Lindsay Stevenson, CPA, CGMA, founder of Origin Evolution and Rachel McGirt, co-founder of Healthy Girls Save the World, a program for middle school girls that promotes “healthy bodies, healthy minds and healthy relationships.” We discussed financial challenges specific to female entrepreneurs (for example, how to get funding), and ways to overcome them. Here are the top two tips Stevenson and McGirt provided. 

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Staying in love with your significant other – who’s also your business partner

Shutterstock_570149110It’s Valentine’s Day, and you deserve a virtual high-five for being extra thoughtful this year. You put together a romantic dinner with candles, music, their favorite dessert – the whole nine yards.

And then you hear the love of your life, your main squeeze, yell from the shared home office, “Hey! Did you remember to pay the contractor?” Well, so much for that intimate evening sans work.

Turning your romantic partner into a business partner might sound like a struggle, especially when it comes to setting boundaries. However, with the right amount of agreed-upon expectations from the start, coupled with consistent, proactive and honest communication along the way, it is possible to succeed in both love and business.

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How a CPA can help KonMari your finances

Shutterstock_736968295Anyone else feel a tad bit inadequate after watching “Tidying Up with Marie Kondo” on Netflix? If you haven’t heard of the series, during each episode, organizing expert Marie Kondo helps clients clear out clutter in their lives with her KonMari method. Before watching I thought I was a relatively neat person, but now I have a tiny voice in my head yelling, “WOW, STAND THAT UP VERTICALLY, YOU SLOB,” every time I put away laundry.

But enough about me. Let’s talk about how we can apply some of Kondo’s tactics to another aspect of life that may need some work: money.

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How workplace trends are affecting small businesses

Shutterstock_1075401614It’s widely known that finding top-tier talent is a challenge many small CPA firms and other small businesses face. On the most recent episode of The Small Biz Brunch, a podcast from AICPA’s #CPApowered campaign, I chatted with Mark Astrinos, CPA/PFS about this issue, changing trends in the workplace and how they’re affecting bottom lines and company cultures. A business owner himself, he had some key insights into hiring and retaining top talent, especially when it comes to millennials. We’ve distilled three of those in this post (lets people know there is more info in the podcast).

It’s not just about the salary anymore.

A survey from the AICPA found that Americans would choose a job with benefits over an identical job that offered a salary 30% higher, but no benefits. These days, benefits – or perks – can be anything from 401(k) matches to delicious snacks in the break room. Overall, employees want to feel valued, which probably means providing more than just an appealing number on a paycheck (although, let’s be honest, that’s pretty important too).

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3 reasons why all entrepreneurs should hire a CPA

Shutterstock_593385893I’ll go ahead and say it – every entrepreneur should hire a CPA. And no, I’m not just saying this because I work for the AICPA. As host of The Small Biz Brunch podcast, I’ve had the pleasure of chatting with many successful business owners – and the majority say how they couldn’t have done it without their CPA. And if someone didn’t use one, they definitely wish they had. 

Read on for three good reasons why entrepreneurs should consider hiring a CPA: 

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3 spooky small business myths, busted

Shutterstock_1214620402At this time of year, there’s plenty of “spookiness” to go around – the new Halloween movie, haunted houses, people incessantly arguing about politics on Facebook (just to name a few). Luckily, starting a small business doesn’t have to be something that makes your hair stand on end.

To calm potential entrepreneurs’ fears of starting a small business, I wanted to learn about some of the most popular myths – and hopefully put them to rest. Amy Wang, CPA and senior manager of the Tax Advocacy & Policy team at the AICPA and Margaret McNab, founder and co-organizer of the Freelance League of North Carolina, joined me on #CPApowered’s new podcast, The Small Biz Brunch, to discuss just that.

Myth #1: Side Hustles Aren’t Taxable

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