Renee & Bryan share their top takeaways from Season 1 and two more of their favorite apps — plus give an idea of what to expect from Season 2, starting in December!
Other apps mentioned:
In this week’s episode, Bryan & Renee share some of the things they learned at XeroCon San Francisco. Topics include “energy vampires,” content marketing, and using your business as a platform.
Mentioned in this episode:
The limited liability company, or LLC, is the most common business entity type in the U.S. But did you know that the LLC itself doesn’t pay federal taxes? And that having your business organized as an LLC doesn’t confer any tax benefits?
LLC’s aren’t federally taxable entities. Business profits flow through to the owners. And in order for an LLC to derive any tax benefits, it must then also elect to be taxed as an S-corporation.
This is one of Renee’s personal favorite topics. Listen in to learn more!
Is all debt inherently bad? Does debt help or hurt your chances at business success? How much does debt really cost?
Listen in as Bryan & Renee share their slightly different opinions on the matter.
Let’s say you’re an amateur photographer, and you spend lots of time and money pursuing this passion.
You’re also employed full-time as an IT tech at a law firm. One day at the water cooler a colleague says, “You should take tax write-offs for all that money you spend on taking pictures!” You hadn’t thought of this idea before, since photography is merely your hobby. But naturally you wonder — Can I really do that? Can I deduct all my photography expenses on my taxes?
In this episode, we discuss the difference between a hobby and a business in the eyes of the IRS, using a recent tax court case (Crile v Commissioner, TC Memo 2014-202) as an example.
Making money is usually the main objective of running a small business. But it doesn’t do any good for your business to make money if you don’t know how to give it yourself personally. (Duh, yo. 🙂 )
This week, Bryan & Renee discuss how to pay yourself — whether you’re a sole proprietor, an LLC member, or an S-corporation shareholder.
To get/keep a grip on your business’ cash flow, you need to know how much money you’re earning and spending — which means you need accounting software.
In this episode, we discuss why the smaller, lesser known software alternative is so much better than the industry norm. If you’re ready to move beyond spreadsheets or pencils & paper, listen up!
Entrepreneurs often wonder — When should I hire a CPA? Right when I’m starting my business? After I’ve earned a certain amount of revenue? Just to do my taxes?
The best answer is the CPA’s favorite phrase: It depends!
Some CPA’s (like us) do more than just prepare income taxes. Find out in this episode what those things are. Also — learn more about when and how to hire a CPA, and what you should expect from the relationship.
Welcome to the first episode of The Business Plan podcast, and thanks for joining us!
Renee Taylor & Bryan Colvin are two self-employed Certified Public Accountants in Asheville NC. We don’t really know much about the technical side of podcasting, but we have lots of business and tax advice to share with small business owners and creative entrepreneurs. So we’re giving it a go!
In this episode, we’ll share a little bit about who we are and what our show can offer you.
Be notified when the next podcast season begins, and sometimes get cool free stuff!
(Also -- we will never, ever spam you.)