Keep What You Earn

In today's episode, we're diving into a crucial topic that often puzzles many business owners—tax estimates. Shannon tackles a common query from a member of CFO on Demand, addressing the challenges of paying estimated taxes throughout the year. She breaks down how to handle fluctuating income and expenses, the nuances of quarterly tax payments, and the importance of tracking your actual business profit. Learn practical strategies to set aside funds, avoid penalties, and take control of your tax obligations without sacrificing cash flow. If you've ever felt overwhelmed by tax estimates, this episode is for you. Let's make the financial side of your business more manageable—grab your headphones, and let's get started! What you'll hear in this episode: 06:39 Unpredictable income warrants caution in financial planning. 10:30 Plan ahead for tax bill, take control. 11:51 CPAs operate traditionally, but modern business owners differ. If you like this episode, check out: Not Having This Can Ruin the Sale of Your Business Breaking Down CFO On Demand Stop Trying to Scale Everything Want to learn more so you can earn more? CFO On Demand click here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In this episode, Shannon continues her conversation with real estate investor Laura Navaquin. Laura shares creative and approachable financing strategies for real estate investing, emphasizing the importance of utilizing other people's money, building a community for support, and taking consistent action to overcome hesitations and grow in the real estate market. Tune in to discover practical tips, valuable insights, and inspiring advice to help you navigate the world of real estate investing with confidence. Laura Navaquin transitioned from corporate America to focus on personal business endeavors in 2023 notably expanding the Inspire Her foundation and mentoring aspiring real estate investors. Through speaking engagements, Laura inspires others to pursue their dreams, emphasizing the importance of mindset in achieving success. Website: www.lauranavaquin.comLinkedIn: https://www.linkedin.com/in/lauranavaquin/ Instagram: https://www.instagram.com/lauranavaquin What you'll hear in this episode: 04:13 Leverage property, private and hard money lenders. 07:42 Leveraging partnerships for growing real estate portfolio. 12:38 Busy with children, get back to you. 15:11 Encourage building a real estate portfolio sooner. If you like this episode, check out: Takeaways from Steps for Success with Junior Achievement What's the Best Way to Pour Money Into Your Business? Introducing Money to Kids: Where Do You Start? Want to learn more so you can earn more? Join Gusto today and get a $100 Visa Gift Card Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In this episode, Shannon is joined by Laura Navaquin to dive into the accessible world of real estate investing. Laura shares her journey from corporate America to successful real estate investor and mentor, emphasizing the importance of mindset and building relationships in the industry. Highlighting the strategy of wholesaling, Laura demonstrates how networking and leveraging connections can be key to success in real estate investing. Join us as we unravel the myths around real estate investing and learn how to get started on your own path to financial growth. Laura Navaquin transitioned from corporate America to focus on personal business endeavors in 2023 notably expanding the Inspire Her foundation and mentoring aspiring real estate investors. Through speaking engagements, Laura inspires others to pursue their dreams, emphasizing the importance of mindset in achieving success. Website: www.lauranavaquin.comLinkedIn: https://www.linkedin.com/in/lauranavaquin/ Instagram: https://www.instagram.com/lauranavaquin What you'll hear in this episode: 04:18 Reevaluated priorities, transitioned to new opportunities in 2023. 08:39 Hesitant about investment, but ultimately convinced. 12:17 Started with personal funds, expanded real estate portfolio. 15:55 Teaching methods for finding off-market properties. 19:28 Sell home contract, leverage relationships, assign contract. 21:55 Networking key in real estate investment strategy. If you like this episode, check out: Takeaways from Steps for Success with Junior Achievement What's the Best Way to Pour Money Into Your Business? Introducing Money to Kids: Where Do You Start? Want to learn more so you can earn more? Join Gusto today and get a $100 Visa Gift Card Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today, Shannon breaks down the importance of identifying and clearing constraints in different areas of your business, such as acquisition, fulfillment, and operations. She shares practical tips on how to pinpoint constraints, address them effectively, and involve your team in the process. Listeners are encouraged to take action by identifying constraints in their own businesses and following along Shannon's journey on Instagram. Stay tuned for valuable insights on streamlining your business operations and maximizing efficiency. What you'll hear in this episode: 04:46 Efficiency, vision, guidance, KPIs: keys to success. 08:32 Focus on identifying and clearing business constraints. If you like this episode, check out: Exploring Alternatives to Capital Fundraising for Your Business Why Is It Hard to Find a Good Tax Pro? Asset vs. Expense: What's The Difference? Want to learn more so you can earn more? Try Kajabi free for 14 days here: https://app.kajabi.com/r/zGmoZA9E/t/tsfmvbq4 Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today, Shannon breaks down the key differences between C Corporations and S Corporations, highlighting the advantages and disadvantages of each. She explains how a C Corporation can be beneficial for certain businesses, especially when considering investors and tax strategies. Listeners are encouraged to explore C Corporations as a potential option within their business structure. Join Shannon as she simplifies complex tax concepts and empowers entrepreneurs to make informed financial decisions. What you'll hear in this episode: 06:32 Optimize entity, design ecosystem, C corp benefits. 07:24 C corporation offers tax advantages over S corporation. If you like this episode, check out: Why You May Not Want to Start a New Business CFO Q&A - Naming Your Business What Actually Happens If I Commingle Business and Personal Finances? Want to learn more so you can earn more? Download the Money Pro Matchmaker tool here Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today, we're diving into a crucial yet often overlooked aspect of running a successful business: your bookkeeping. As many of you are catching up on your books from last year or transitioning to new relationships with bookkeepers and accountants, it's vital to understand what you should be tracking and how to customize your financial records to suit your business needs. In this episode, we'll explore how to effectively use your chart of accounts in QuickBooks, differentiate between income and cost centers, and tailor your financial tracking to better inform your business decisions. Plus, I'll share some specific tips to make your tax accountant happy and help you avoid those dreaded CPA questions. So, get ready to turn your books into a powerful tool for growth and join me as we unlock the hidden potentials of your financial statements. What you'll hear in this episode: 05:10 Hair salon can offer various services, increase revenue. 07:20 Simplify content tracking for better bookkeeping. 11:22 Understand the significance of net operating income. If you like this episode, check out: Why Should You Separate Your Business Money from Personal Finances? What a Balance Sheet Actually Tells You What is CFO On Demand? Want to learn more so you can earn more? Get $50 off your HR audit with People Principles by using code SHANNON50 here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today, we're diving into a critical topic for entrepreneurs—creating a business partnership. While partnerships can be incredibly rewarding, they come with their own unique set of challenges and responsibilities that can make or break your business. In this episode, we'll explore what a partnership truly entails, from the tax implications to the importance of aligning ownership with effort. I'll share insights on guaranteed payments, equitable profit distribution, and the potential pitfalls that can turn a promising partnership into a financial and emotional strain. What you'll hear in this episode: 03:16 Challenges in determining fair and equitable payments. 08:01 Consider contracting service providers to manage operations. 12:11 Managing finances and responsibilities requires clear boundaries. 14:05 Roommates living separately, business entities, joint ventures. 17:47 Roommates trade chores and form magical partnerships. If you like this episode, check out: Why You May Not Want to Start a New Business CFO Q&A - Naming Your Business What Actually Happens If I Commingle Business and Personal Finances? Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-sessions Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Today's episode dives deep into a topic that's crucial for anyone looking to improve their customer relationships and ultimately their bottom line. I'll be sharing three major pitfalls that can severely hinder your customer experience—pitfalls you might not even realize you're falling into. From ensuring a clear and timely sales process to creating user-friendly websites and effectively utilizing customer information, we'll cover actionable steps to elevate your business. This episode is packed with insights drawn from my extensive experience in customer service across various industries. So, whether you're a seasoned entrepreneur or just starting out, this episode has something for you. What you'll hear in this episode: 04:44 Respond promptly to customer interest or risk loss. 09:28 Businesses not reading collected customer information, causing frustration. 10:29 Frustration with repeating personal information at appointments. If you like this episode, check out: How to Integrate Business Development Into Habits Investing in Businesses - What You Need to Know Pricing Blunders That Could Cost You Thousands Want to learn more so you can earn more? Transform your small business journey – download the Small Business $tarter Kit here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In today's episode, we dive deep into various cash management strategies to help your business grow its wealth. Whether you're curious about different types of bank accounts or wondering how to make your money work harder for you, this episode will offer insights into leveraging your cash, from checking and savings accounts to high-yield savings and brokerage accounts. Stick around for actionable advice on keeping your finances in top shape and optimizing your business's cash flow. What you'll hear in this episode: 04:22 Understanding liquidity: how fast assets can convert. 08:10 Business owners can choose where to invest. If you like this episode, check out: What Makes Finding a Reliable Tax Professional So Challenging? CFO Q&A: Should You Pay Off Loans with Extra Cash? Best Practices to Collect Cash from Customers Faster Want to learn more so you can earn more? CFO Power Session: https://www.keepwhatyouearn.com/power-sessions Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

In today's episode, we're diving deep into the world of franchising. Whether you're looking to franchise your own business or thinking about purchasing one, there's a lot to unpack. I've had numerous chats with franchise business owners and even the founder of Squeeze, Brittany Driscoll, to shed light on both sides of franchising. From the hefty upfront investments and cash flow management challenges to understanding royalty structures and benchmarking against other franchisees, this episode is packed with actionable insights to help you keep those profit margins high. What you'll hear in this episode: 05:41 Understanding and managing franchise royalties and margins. 07:38 Franchising offers control, playbook, and quick growth. If you like this episode, check out: How to Integrate Business Development Into Habits Investing in Businesses - What You Need to Know Blue Oceans are All Around Us Want to learn more so you can earn more? Get $50 off your HR audit with People Principles by using code SHANNON50 here. Visit keepwhatyouearn.com to dive deeper on our episodes Visit keepwhatyouearncfo.com to work with Shannon and her team Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/ The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.