How to Manage Your Business Finances with CPA Robin Buckalew
Money is like air. You only think about it if you don’t have enough... And let’s face it, unless you’re Mark Zuckerberg, you are probably on the side of not having enough--right??
Finances are confusing along with being stressful, and for a business owner, you literally cannot afford to push them out of your mind. Tracking where your money is going and knowing where to be putting the money you do have is important, or shall we say, vital to your success?
Robin Buckalew is a Certified Public Accountant and QuickBooks Online expert who helps small business owners to get financial clarity without breaking your budget. Robin helps small business owners get back their time so they can focus on what matters most in their business.
In this episode, I interview Robin, who seriously takes the overwhelm out of business finance. We go over how to get started in organizing finances, some good rules of thumb to go by, how to know when to start paying yourself and even hit on setting money aside for taxes. This one is a good one chalk full of information! You’ll definitely want to grab a pen so you can write down all of her amazing wisdom!
What You’ll Learn in This Episode:
- The difference between a CPA, bookkeeper and tax preparer--and which one is right for your business
- When to get a bookkeeper, what to do before you hire one, and why it’s not an expense
- When to set up an LLC/EIN and a business bank account
- What to do about sales tax
- How much money you should set aside for taxes each year
- What percentage of profit you should be making from your business
- When to pay yourself and how much to give yourself
- When to purchase software to track your expenses and revenue
Mentioned On The Show:
- Robin Buckalew CPA
- Quick books
- Pay Your Taxes Online
- Sales Tax
- Profit First by Michael Michalowicz
- Direct Pay With Bank Account
- Tax Jar
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