Episode 122 - 2018 small biz tax questions asked and answered

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As a business owner, no one knows your business better than you do. That's why you need to know the basics of income taxes. 

I know. I know.

It's annoying.

It's complicated. 

It's worse than a root canal.

So is paying too much in taxes because you don't know the rules. Yeah, that hurts, too. 

Spend some time with Jeff and Kristin as we answer questions from small business owners. Some of the questions include:

  • How do I do my own taxes without standing up and whacking my head against the wall repeatedly until the pain stops?
  • LLC, sole proprietorship, partnership, S-Corporation, or C-Corporation?
  • Can I deduct my car?
  • Can I extend if I owe money?
  • Will I get audited if I claim my home office?
  • Can I claim a deduction for business-related entertainment?
  • I'm planning on taking a trip to trade show. Can I bring my family along for a vacation and still deduct my...
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Episode 121 – No more excuses

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Are you stuck in a funk growing your small biz?  Have you been putting off improving your health? Have your relationships suffered? Have you not been sleeping? It is the time that we all start living the small biz life and stop being lived by it. #NoExcuses 

You are not alone

Kristin and I have spent much of 2017 with you. We have had many excuses. Some real, but most where just extensions of our fear. Leading us to waste a lot of time, that is so precious. Join us in this podcast episode as we look at some of our biggest excuses, and some of the excuses we hear all the time. And how we can start working past them to live a year with no more excuses.

Any of these problems sound familiar?

  • What held us back?
    • Small goals
    • Using the pregnancy as an excuse early in the pregnancy
    • Lack of focus
    • Fear of selling
    • Too much to do, not enough planning
  • What is...
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Episode 118 - The basics of Online Summits

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Kristin and I are always looking for ways to grow our online business. So we have started researching creating an online conference or summit.  They offer much of the benefits of a real-life conference with networking and sales. However, the can be put together at a fraction of the cost.

  • What are they?
    • More advanced than other forms of outreach content. However,
    • Online only conferences
    • Typically, free content for a limited time
    • Typically sells with lifetimes sales product “All-Access Pass”
  • What are they good for?
    • Building your authority
    • Building your email list
    • Creating a product to sell
      • Possibly evergreen
  • And What do I need to do them?
    • Ability to record the video interviews
      • Hangouts / Skype
    • Platform to deliver the content for free
      • Could be embedded YouTube Videos
    • Platform to upsell the content
      • Redirect all old...
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Episode 112 – Tips for a successful launch

Listen to the show on iTunes, Stitcher, YouTube, Google Play Music, iHeart Radio, or with the player below.


The human brain is funny. It will do many things to protect us. The worse thing it does is lie to us on our behalf. And to be honest Kristin and I see this a lot when business owners share content or try and sell online.  We tell ourselves we are launching, however, we are really just checking off a to-do list item. 

Sharing on Facebook and saying we are done is a failed launch!

Even if we get a few people into our sales process and make a few sales and most people will not do even that. They will complain that they tried to do it and the people just did not want it. The Truth is we just lied to ourselves, we spent so much time creating something of beauty for the world, we spent no time trying on the marketing and sales process. We wished for success and did set ourselves up for failure.

Start planning for your success

Join...

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Episode 101 - Saving for your retirement

business/career financial Aug 20, 2017

There are a lot of retirement plan options for small business owners. How do you determine which one is right for you? In this episode, we discuss all the options to help you find the right plan for your biz. 

All the numbers in this post are valid for 2017. Each year, these numbers are updated by the IRS. 

Individual Retirement Plans (IRAs)

If you are just starting to save, an IRA might be an easy way to get started. An IRA will allow you to save up to $5,500 in 2017. If you are over the age of 50, you can make an additional catch-up contribution of $1,000. 

There are two types of IRAs: a traditional IRA and a Roth IRA. 

Traditional vs. Roth

It's important to understand the difference between these two plans to ensure you are achieving your goals. 

Traditional

With a traditional plan, you put the money in pre-tax, which means you get a tax deduction now. However, when you take the money out at retirement, you must pay taxes based on your normal tax...

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Episode 99 - Money and Budget Tips with Melissa Thomas

Money and Budgets affect every aspect of out a small business owners and our lives.

Personal Finances matter as much as business finances for small biz owners

Kristin and I have a discussion with Melissa about controlling budgets, working towards our dreams, and her new book, "Building My Yellow Brick Road: Life Lessons from Pursuing a Dream".

Listen to a great interview and get out and Building My Yellow Brick Road: Life Lessons from Pursuing a Dream and learn more about her business Melissa the Coach and how to deal more about your personal finances. 

 

Listen to the show on iTunes, Stitcher, YouTube, Google Play Music, iHeart Radio, or with the player below.

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Episode 92 - Simplifying your life

We spend a lot of time trying to simplify our businesses, but how often do you think about simplifying your life? In this episode, we discuss tips for simplifying your life. 

Simplify your home

  • Minimize your stuff
  • Automate your home maintenance
  • Have a cleaning kit
  • Pick up 15 minutes each day
  • Choose quality first

Simplify your money

  • Automate your bills
  • Pay off your debt
  • Have an emergency fund
  • Wait 24-48 hours for major purchases
  • Live simply
  • Be grateful
  • Find the root reason for overspending

Simplify your routine

  • Having a morning and evening routine
  • Create a monthly meal plan
  • Recreate leftovers
  • Have a few Plan B meals in the freezer or pantry
  • Don't get the mail until you are ready to deal with it

Other mentions

Episode 86: Finding your daily focus

Episode 33: Quick dinner tips

The Life-Changing Magic of Tidying Up by Marie Kondo

72 ways to simplify your life by Zen Habits

Dyson cordless vacuums

The Miracle Morning: The Not-So-Obvious Secret Guaranteed to Transform Your...

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Episode 90 - Pricing your services

When you set the rates for your services, how much did you think about it? How did you come up with that figure? In this episode, we discuss how to set a rate for your services that allows you to achieve your goals and plan for the future. 

Are you a price taker or a price maker?

In the area of pricing, there are two types of companies: price takers and price makers. 

  • Price takers are businesses with lots of competition that do little to differentiate themselves from the competition. Because of the lack of differentiation, rates are set by the market. 
  • Price makers are businesses with little competition in their field or that have worked hard to differentiate themselves from their competitors. Because they create additional value, these businesses are able to set their own rates. This is where you want your business to be. 

If you have ever studied accounting, you probably know that revenue - expenses = profit. This is a commonly taught formula and is the...

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Episode 79 - The 4x4x3 Insight Guide for Sales

How where your sales today?

Ever wonder why those other businesses seem confident when the make an advertising buy for their business. Heck are you too scared to even try to buy and add because you think it will just waste your money?

It can be scary to create a funnel or a process for converting prospective clients into sales. We are looking will have to measure what we are doing.  We will see all of our mistakes.  Just follow me for a moment as we start to look at the benefits of a funnel and learn to make your business start working for you.


Stop being scared, invest your time creating a sales funnel


                If I asked you how many sales would you get if I could introduce you to 100 people, how many people would buy your product or service? Ten? One? Thirty? Could you even answer? 

I have not met many small businesses that can some do not even what a sales funnel is. And many who do...

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Episode 76 - Your first day

Whether you are planning your first day working full-time for your business or you had your first day ten years ago, this episode is for you. We discuss Jeff's plans for his first day working for Ingram Digital Media, Inc. and the three pillars of success for our business.

Your first day

If your first day in your business was tomorrow, what would that day look like? If you've been running your business for years, how would your first day and first week be different if you restarted today? 

Jeff has spent a lot of time working on his time budget and master schedule (get our Mastering your Time course free and try Small Biz HQ for 30 days for just $5 with coupon code MARCHFOR5) to ensure that he can hit the ground running. We've also spent a lot of time planning what we want the next few months to look like. 

You may not know this, but we actually have three active brands in our business: Small Biz Life, Accounting In Focus, and Gardul/Worldbuilder's Anvil. We've...

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