Level Up Your Business Finances - 5 Money Tips to Reach Your Goals

Рет қаралды 2,040

Күн бұрын

Want to set yourself up for financial success with your new business? Or maybe you want to start fresh in the new year and make real profit this year?
This video is for you! Let's get you on a firm financial footing as you setup or refocus on your business finances.
In this video, Hannah has 5 financial tips for you as a small business CFO. She has seen it all when it comes to mistakes that both new and seasoned business owners make, and here are some things you can do right from the beginning!
Mentioned in this video:
Quickbooks Online Discount and 30-day Free Trial: www.claracfo.com/QBO
Jamie Trull's P&L Template: www.claracfo.com/P&LTemplate
Chapters in this video:
0:00 Firm Financial Footing
1:15 Business Entity Mentality
3:19 Separate Business and Personal
4:38 Business Account Starter Pack
5:06 Credit Card Warning
6:25 Get a Financial System
8:38 P&L Template
10:45 QBO Selection tips
11:45 Value your TIME
14:11 Tax compliance
16:15 Estimated taxes
Check out Jamie Trull: / @jamietrull
To learn more about CFO services, go to: claracfo.com/cfo-services/
💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a discounted subscription for 12 months! claracfo.com/QBO
🙋‍♀‍Got Employees? Talk to ADP! They can help you if you are a small business owner or an accountant or advisor who works with small businesses. Learn more here: claracfo.com/adprun
💸Pay vendors any way they want and get paid faster! Accept credit cards without paying merchant fees! Melio is a fantastic payments solution for every small business! claracfo.com/melio
(As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases)
Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.
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Пікірлер: 6

@Viviko 6 ай бұрын

With regards to paying yourself as the owner. Whst is “reasonable”? Like, if I pay myself as a contractor in a web design business, is like 20% of the contract value “reasonable”? Or do I have to look at it like what would a salaried developer be paid, and use that as a benchmark? Always thought I didn’t have to worry about this until I get into S Corps, which I’m not in yet.

@ClaraCFO 6 ай бұрын

The term "Reasonable compensation" is a term that is used when talking about S-corp owners paying themselves. But that isn't what I am talking about in this video. For you, what would you have to pay another web designer to take over the work you are doing? That's what you want to make sure you have factored into your pricing so that you aren't accidentally underpricing yourself.

@halalaffirmations 6 ай бұрын

Please do a video tutorial on how to report TikTok Shop earnings on Quickbooks! Thank you.

@ClaraCFO 6 ай бұрын

Oh I haven’t encountered this yet. How are earnings coming in?

@halalaffirmations 6 ай бұрын

@@ClaraCFO yeah, TikTok shop is becoming popular. The sales are coming from products you can sell to TikTok users. For me, revenue is NOT much. And, since they are fairly new, they don’t have a good financial reporting system. Basically you can organize the finance section by month. It gives you total revenue, total fees, and a little breakdown. So I assume I have to do a journal entry? 🤷‍♀️

@CC-ip3ve 5 ай бұрын

Hi Clara, I'm looking for a specific service that may or may not be unique to you, but I think you and your team may help me. Can I email the address I'm subscribed to, or do you have another email in regard to services?