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Music credit: Neon Fairies by Wolves 

A Podcast Launch Bestie production

Hey, welcome back.

This is the final episode in season one.

Thank you, preemptively for everyone that has DMD on Instagram sent me emails,

told me how much they've loved the information and the season and how much

they're looking forward to future seasons.

This was such a big.

Adventure to take.

I'd been wanting to do it forever.

I've been told by multiple people, oh, you should do it.

You should do it.

You should do it.

But it's been really validating to hear back from all of you,

how much you appreciated the information that we've been covering.

So stay tuned.

And in season two, we're going to delve into all of the personal finance basics.

So we spent this season covering basically everything you need to

know as a small business owner.

And we're going to wrap that up in this episode and then

next season we'll go over.

All of the details you need to know on the personal side.

So stay tuned again.

Make sure you are.

Sharing this with anyone that you think would find it beneficial or informative,

and that if you haven't already left a review, please go leave a review.

It is a super validating for me.

I read all of them.

and B it really helps the podcast get more reach.

So I cannot tell you how much we appreciate the reviews and the feedback.

And additionally, you get entered to win a session with me.

We do a drawing at the end of every month, and you will.

Have a chance to win a free session with me if you leave a review for the podcast.

Okay.

So we have gone through what kind of entity you should be

as a small business owner.

Why you should keep your finances separate what you should do for accounting

setup, how you should price yourself.

Um, we got into a little bit of the Wu behind the intentions and the

reasons for why you're doing things or why you're purchasing things.

And we chatted about how to pay yourself the right.

So these are a lot of the foundational basics that you need to have a really

good grasp on as a small business owner, whether you end up outsourcing

your finances to a bookkeeper and accountant, a finance team, you

need to understand these basics.

It'll also make your relationship with any future companies that you work with so

much more easily understood because you'll at least have a foundational knowledge

of what they're talking to you about.

So, We cover.

And I know you want to know this.

Get your financial together self study course, we cover business, entity types,

and registration, and how to do it.

10 90 nines w nines and of your processes, which we are hot and heavy

in right now, because a reminder 10 90 nines, which you need w nine spore

are due by January 31st of this year.

So that deadline is coming up really quickly.

We talk about how and when to hire are you bringing on employees?

Are you bringing on contractors?

Do you know the difference between those two?

Because they're not interchangeable.

Tech tools, tips and tricks other than being a really, you know, fun

alliteration, what we recommend, what we use and what we really

like and some good options that are either low cost or no cost as well.

The legal side to your business.

We have a guest speaker, Christy Westerfield, that goes over all of those

little details that you need to know, and then income and expenses, mileage

tracking, which we're going to pause on.

Mileage tracking is one of the biggest deductions that most of our clients take.

And it is really frequently missed.

So make sure whether you do this course or you just buy the mileage tracker

on my website, which comes with its whole explanation video for what, when,

why, and how to use it the right way.

Same thing with home office expenses.

So you get to write off generally a portion of your home office expenses.

How do you do that?

What can you write off?

What do you need to have in there?

All of that is covered.

We get a little bit what some people might think boring.

I get really excited for it.

Accounting software and systems set up how to use your accounting software

audit, proofing your business, which like, please don't panic, but that's,

you know what receipts you need to be keeping how you need to be.

Keeping records are digital receipts.

Okay.

Why do you need receipts?

And which ones do you need?

And then we go over how to price.

Business budgeting and reports so that you can review the most important

ones and then advanced accounting.

So things like depreciation, manual journals, or journal entries, um, which

hopefully none of you ever have to do, but you have a basic rundown on.

And then we have some really fun things.

So quarterly estimated taxes, how to file your own taxes in TurboTax, how

to pay IRS quarterly estimates, how to pay your IRS taxes online, which if you

are not already doing that, oh my God.

Please pay your taxes.

Both your quarterly taxes and your federal end of year taxes and state

taxes, wherever possible on line.

It is.

Oh my God.

It is so nice.

Like saves you so much time.

You don't have to get a check.

You don't have to like, go deal with any of that.

Cause I have a client that had no idea that they could pay online and they've

been paying for years with that little voucher, having to go to the bank, get

checks printed, do the whole thing.

Highly overrated.

Highly overrated.

And then.

Also what retirement options you have as a self-employed individual and how to set

up 120 day IRS installment payment plan.

Because we talked a little bit about that during the episode where we

covered quarterly estimated taxes, but the IRS has payment plans available.

If you ever have a year.

Your taxes sneak up on you, you made more than you realized, or

maybe you didn't have a lot of extra money to be setting aside those

ratios that you needed to for taxes.

You know, maybe you had a dip in income and you were just

trying to make ends meet.

There are some really good options there.

And lastly, state resources, federal resources, email templates, which I

think are a really cool addition for.

10 90 nines requesting w nines from people.

And then there are some miscellaneous resources in here that have, you know,

like the ultimate basically puts all of these into a checklist for you.

So you have a lot of the key dates by month, by quarter by year, so that you

can be keeping track of all of this.

So that is a lot of information and we have literally only touched on.

Probably half, maybe even less than half a third of what we cover in there.

But so many of them are really visual and have downloads or worksheets that did

not lend themselves to podcast topics.

So while you've gotten a ton of value from the podcast and you have a lot of

the information that you need, if you are not going to take action, whether

it's taking this course, whether it's implement, implementing what you've

learned, nothing's going to change.

So I know we harped on this.

We, the mouse in my pocket I harped on this in our last episode, take action.

Whether it's buying this course, whether it's implementing something that you've

learned, whether it's opening a separate bank account, taking these small steps

we'll help you build confidence in your knowledge and your

ability to handle your finances.

And that is priceless because taking those little steps shows that you can do this.

You can show up for yourself.

You can be here, you're reliable, and that continues to build the story in your head.

That you've got this, you can manage your finances responsibly

or with confidence because Googling is only going to get you so far.

And that's the whole reason I created this course in the first place,

because I, there was actually this, um, meme quote that one of my clients

made, um, of something that I'd said.

And I said, stop Googling shit, because.

So many people.

And if you know what you're looking for, I'm going to preface this.

If you have the knowledge to know what you're looking for and to be able to

search it, read through it and make sense by all means the information is there.

However, even if you find the right information, do you have the confidence

to know that it's the right information?

Do you have the confidence to understand that that's exactly what you need.

Do you have the confidence to understand that it's exactly what you need.

It's exactly right for your business right now?

Because I've had clients come to me that are making two, three,

$400,000 and are set up as a sole proprietor or a single member, LLC.

And they're literally overpaying 20, 30, 40 grand a year in income taxes

that just doesn't need to be paid.

Because no one told them or they didn't know to ask.

And I don't fault them.

You know, they're, they're not an accountant, they're

not a financial expert.

They don't have a bookkeeper working with them.

So why would they know that they weren't doing the right thing?

So a, should you be doing something different?

Do you know that?

Just by Googling B if you hear everyone throwing around,

oh, you should be an S-corp.

Oh, you should be this.

Oh, my brother's sister did this, which would be your

sister by the way, generally.

But you'll gain the confidence from this course to know, should I be an S-corp?

Should I be a sole proprietor?

Are these things the right fit for me, for my business now?

And are there earmarks occurs or waypoints that I can watch out

for as I go along and as I grow?

Which I think is really overlooked as being important.

If, you know when you get started, okay, cool.

When I'm making 50 or 60,000 a year in profit, I should

probably look at being an escort.

You know, when that next action point is going to hit, and that is so

beneficial for a building confidence, but be easing a lot of fear and anxiety

that comes with being a business owner and wondering like, am I overpaying?

Like I get a massive tax bill every year.

Is there anything I could be doing differently?

So you're not going to be leaving constantly wondering,

did I categorize that right?

Is that actually a write off?

What's the deduction?

Am I doing it all right.

Am I going to be audited and ended up in jail?

And that is a really, really common fear that people that I work with

deal with, you know, they're worried that like maybe they haven't filed

their taxes in two years because they got super overwhelmed and then

they ended up in that shame spiral.

Get your finance shit together.

Self study course does exactly that.

It gets your business, finance shit together.

It moves you from a place of feeling unsure, anxious, overwhelmed, stressed

to a place of confidence, peace, clarity, and understanding next

steps for yourself, which brings a modicum of control to your life.

You get to be the driving factor in your life, the driving force.

You are not simply along for the ride.

You're actively, you know, steering the train or steering the bus

or whatever we want to call it.

You're taking a real active role instead of a passive role in your finances.

So you're no longer going to get lost in a sea of Googling.

You're not going to Google for hours.

Think you understand.

And then actually ended up picking the wrong thing.

You'll be able to take what you've learned and implement it, and you can implement.

Immediately.

I mean, even these podcasts episodes, you should be making changes every

time you're listening to them.

Whether that's automating a bill, separating your business accounts,

I'm literally going to harp on this like 17 more times, because if you're

a business owner and you do not have a separate checking account, like.

Do it do it now there's no excuses.

You might have to go in in person.

It kind of sucks.

Not gonna lie.

Separating that out will make a huge, psychological difference in your business

and how you treat your business finances.

And it's going to make such a massive difference if you

outsource your bookkeeping ever.

Or if at the end of the year, you want to go through and pull your bookkeeping

together, which I've been doing with all my clients and they're going through.

Or they're sending a VA through, after going through one of my courses or going

through a training with me and they're having them categorize everything so

that their books are ready for taxes.

And so that they're not leaving deductions on the table and

they're not overpaying their taxes.

So we have this course that covers everything in here.

There's some optional support that you can add on when you're done with it.

It's totally prerecorded.

You can go at your own pace.

And what I really like about how I set this up, we're going to pat

myself on the back here because when I've taken courses in the past, I.

Being neurodivergent ADHD, I don't want to always work through everything

in the exact order that I'm given.

I made this so that you can skip around.

It's flows, I think semi chronologically, but it is not required in order for you

to get the information that you need.

So if you get into this right now and you're like, oh shit, I have 10 90 nines

and w nines and it's almost tax season.

You can dive straight into the 10 90 nines and w nines right now.

And there standalone within this course.

Do they work in conjunction?

Are they potentially referenced in other videos?

Absolutely.

But you don't have to have gone through a bunch of other things in

order to make those work on their own.

If you're ready to be able to watch the video content, download

the workbooks, we made Excel.

Sheets with instructions that are very simple for things like the quarterly

estimated tax calculator, for the income and expense tracker for the

mileage tracker, so that these are ready to be implemented right now.

And if you're not ready to put a whole accounting software into place, you can

take the information that's in here.

You can take the worksheets and you could do your entire year's

worth of bookkeeping, and be ready to file your own taxes.

Or at the very least know that you're not missing any of your deductions and be

able to send everything to a tax preparer.

So take some time for yourself.

Take action instead of continuing to put it off.

And again, whether it's this course, whether it's a smaller course offering

that I have on my website, this one is just the most comprehensive and gets

rave reviews because of how much time, effort, and energy I put into it to make

sure that it covered all of the bases.

I'm not here to patronize.

I'm not here to talk down to you.

I am here.

To basically be your best friend when it comes to finances.

I talked to you, like I talked to my friends, I talked to you, like I

talked to my sister or my parents.

I want you to succeed.

I want you to do well.

And more than that, I want to see that moment, that things click for you.

And you.

You get to be excited.

You get to feel at peace.

You get to have this just immense feeling of clarity and that you

know where you're going, because life can be really hard sometimes.

Being a business owner can be lonely, difficult, exciting, wonderful,

you know, a whole gamut of the human experience and emotions.

And this is one area that I can make so much less stressful and so

much less anxiety inducing for you.

So confident money podcast.com.

This program is linked there.

You are always welcome to send questions over.

Make sure it's the right fit for you.

There's Even a money back guarantee, you get access preemptively to

some of the modules so you can make sure it's a good fit for you.

So take the time and I'll see you the next season.

I'm really excited.

I loved this season and I'm so excited for the next season.