Finer Financials LLC

Do you currently use tax planning in your business?

Why or why not?

Tax savings alert!!!

Check out your Income Statement and see what your taxable income is to date.

If you had a profitable year and want to reduce the amount you will owe in taxes, right now is the time to invest in that class or equipment you have wanted all year.

It pays to have current and reliable financial reporting.

What’s on your business wishlist?

Even Einstein thought taxes were hard to understand!

On a scale of 1 to 10 (10 being the hardest) - how hard is to wrap your head around calculating your tax due?

Always start with a purpose or goal.

Remember this when creating a budget:

Your purpose will drive your budgeted income and expenses to create a projected profit.

The strategies you use to obtain business success highly depend on that budget.

Do you have a budget for your business?

Show of hands 🙋.

How many of you struggle with creating a budget for your business?

This quote only holds truth when management or owners don’t have the right tools to make budgeting estimates.

Accurate financial reporting and historical data are a must in your toolset - so is understanding your industry’s seasonal trends.

How do you stay current in your industry’s trends?

Don’t procrastinate!

Instead, take some time at the beginning of the 4th quarter to find the right bookkeeper for you.

In doing so, you will save yourself time and money, and find a trusted advisor who will help you stay on top of your SMART goals.

Do you think you can benefit from a conversation with me about bookkeeping for your business?

Send me a DM to connect.

Me setting income goals without a SMART plan.

We are here to cheer you on!

Share your 4th quarter business goals below and let us know what type of support you need to meet them!

Do you want to have a 6-figure business?

Before you hire a coach - get SMART!

Use this template and reference your financial records to help you plan for a six-figure revenue business:

SPECIFIC:
I will earn _______ per month to have a six-figure revenue business.

MEASURABLE:

I will review my revenue/sales monthly and adjust strategy as needed (Hint: Use your monthly Income Statement for this).

ATTAINABLE:
I will take on ______ amount of clients at $___________ monthly to meet this goal.

RELEVANT:
I will invest _______ hours daily in prospecting/networking.
I will set up the following systems in place to offer a positive onboarding experience for new clients: ____________________________________________________________________
I will outsource the following to make time for new clients:
_______________________________________
_______________________________________
_______________________________________

I will raise my prices to $______________ in order to meet my revenue goals. (if applicable)

I will use the following affirmation to help shift my money mindset:
______________________________________________________________________

TIME BOUND:
I will begin on _______________ and will compare actual revenue vs. goal revenue at the end of every month.

Save this for current and future growth strategies.

A business without bookkeeping can turn into a real-life nightmare.

But, when you plan time for bookkeeping activities in your business, your dream business can become a reality.

Which reality are you living in your business today - the nightmare or the dream?

Our clients feel they can trust in our services because we value communication.

When we onboard a new client, we make sure they know how to reach us and how long it will take for us to respond.

We talk about what services will be provided to them and how often we will meet to go over their transactions.

Providing financial clarity for our clients is our number one priority. Honest and open communication is how we get there.

Nailed It!

This DIY project has been something we’ve been working on behind the scenes!

Building our own home where I grew up has been a dream of mine that is finally coming true!

Thank you to all of our amazing clients and business partners that have made this possible for our family!

There are good DIY projects and ones that you just shouldn’t take on. Don’t try to wear too many hats, but do what you know is best for you and your business!

Go nail it!

You need to read this if…

You’ve been wondering, “is it time to hire a bookkeeper?”

The answer is yes!

And here are seven questions to ask yourself when considering a candidate.

🤔 “Do we share similar values?”
🤔 “Do they have experience working with my industry or show an ability to research the accounting issues specific to my niche?”
🤔 “Do they have good communication skills, and make themselves available to me for questions?”
🤔 “What is the scope of their work? Will they only book transactions, or do they offer analysis and reporting as well?”
🤔 “Are they comfortable communicating with a CPA or tax professional?”
🤔 “How often will they formally meet with me to ask and answer questions about month-end transactions?”
🤔 “What are their expectations of me so they can accurately and consistently book my day-to-day transactions?”

Were you surprised by any of these?

DIY or hire it out?

Which route do you take most in your business?

A little reminder that hiring an expert can save you time so you can have a six-figure business.

Did you postpone filing your estimated quarterly taxes because you didn’t know your taxable income to-date?

You are not alone. The good news is, we can help!

Let’s get your books in order and ready for year-end. We are able to take on 3 new clients during October!

Contact us for a free consultation and to hold your spot!

Having open and honest communication has been a huge reason why our clients trust us so much with their business financials!

We do our best to explain things deeply so that you know everything that you should.

No surprises here!

Transparency is a standard we hold high since we know how important our relationship is with you. After all, we are business owners too and your business success is important to us!

Which one is the best?

It’s one of the most debated questions small businesses have when deciding on a management software!

Is it:

🤔 Dubsado
🤔 Honeybook
🤔 17Hats
🤔 Zoho
🤔 HelloBonsai
🤔 I do everything myself

Let us know what you use and why!

Did you know there is a 20% chance your business could fail within the first two years?! 😯

Most of the time, small businesses fail because they don’t have processes in place that help avoid major mistakes. Even worse, they don’t know or pay attention to the early warning signs.

According to Forbes, there are seven signs that should alarm small businesses of failure. Below are four of the seven signs.

🔔 High Turnover Rates - Avoid this by communicating with your employees and contractors to create a positive work environment. You can also benefit from clearly defining expectations when onboarding a new employee or contractor.

🔔 Funds Are Dwindling - Avoid this by accurately and consistently practicing bookkeeping for your business. It will help you generate Cash Flow statements to identify where your money is going and what you can do to cut costs or increase sales.

🔔 You’re Constantly Extinguishing Problems - Avoid this by writing down your problems and solving them one at a time. It will help you fine-tune your standard operating procedures (SOP) to avoid the same issues from happening again.

🔔 Your Sales Are Low or Non-Existent - Avoid this by talking to your customers and getting feedback on your products or services. Also, check your Income Statement to see if it’s time to discontinue a service or product. Finally, start networking and ask current employees for referrals.

Click on the link below to find out about the other three signs that should cause alarm.

Fear of failure.

Failure is one of the most common fears entrepreneurs face. It’s a fear that could cause decision paralysis.

The best way to get past the paralysis and fear is to focus on the idea that failure is not final.

Remember, we can all fix a mistake or create processes to avoid mistakes.

Do you have processes set in place that help your business run efficiently?

It is so rewarding to watch our clients make huge steps in business growth even during these times of uncertainty!

If there is ever going to be a time to act and strive for your business goals, its now!
Don’t let the unknown stop you from doing great things and accomplishing your dreams!

We are so proud of our clients and other business owners around us that have taken those steps to restart the world with their small business and not let anything stop them!

The IRS could charge you penalties on estimated tax due if you:

- Don't pay on time
- Pay too much
- Pay too little

Yikes!

Here are a few tips to help you avoid these penalties:

- Calculate your estimated tax due based on last year's numbers, or if you had unforeseen events affect your income, like the pandemic, look at your current income statement to calculate tax due.

- Keep your financial records current by recording your transactions daily/weekly.
- Find a Tax professional who can help you calculate your estimated tax payment based on your state and business.

How did the pandemic affect your business income this year?

If this is your approach to bookkeeping for your business, we need to talk.

Reach out to us if you are ready to get some tasks off of your plate!

Today's PSA for profitable businesses.

Always categorize your business income and expenses.

Whether you use Wave, Quickbooks, Excel Spreadsheets, or Google Sheets, categorizing your expenses and income will help make tax preparation a cinch.

It will also help you analyze which of your offers are more profitable than others.

And, searching specific transactions will no longer feel like you are searching for a needle in a haystack.

Can you relate?

Do you categorize your business income and expense transactions?

OR

Do you lump them all together or maybe not even look at them at all?

Would you agree?

Do you feel organized and ready to file your quarterly estimated tax payments?

We will help you feel at ease with your business financial organization so that you and your business are ready for anything!

Friendly reminder that accurate financial records will help you make the courageous business decisions to have success.