Keep What You Earn

On today's episode, Shannon delves into the mindset of tax savings and wealth building for entrepreneurs. Shannon discusses the importance of prioritizing growth over tax strategies and how focusing solely on tax savings could limit business expansion. She shares personal insights on her decision to move abroad, emphasizing that lifestyle and personal fulfillment should drive choices, with tax benefits as a secondary consideration. Shannon encourages listeners to proactively plan their finances and prioritize strategies that truly move the needle. Join us as we explore the balance between tax savings and business growth in this thought-provoking episode. What you'll hear in this episode: 04:37 Focus on making money, not just taxes. 06:43 Enjoy being here, taxes not a priority. 10:02 Hiring children for tax benefits requires justification. 13:23 Ensure business goals align with tax strategy. If you like this episode, check out: Maximize Your Income with the Help of a CFO Staying Motivated in Times of Stress Is There Such Thing as Too Much Transparency? 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.

Navigating S Corp compliance can be tricky, especially when it comes to determining the right salary. The IRS mandates a reasonable salary, yet the specifics remain elusive. In this episode, I guide you through a seven-step process that we employ with our clients to establish a fair and compliant salary. Avoid the pitfalls of paying too little and find clarity in this ambiguous aspect of S Corp regulations. What you'll hear in this episode: 04:28 Defining salary based on business involvement and role. 07:29 Analyze salary to maintain business cash flow. If you like this episode, check out: How to Stop Feeling Unprepared For Tax Time Harness the Benefits of an Accountable Plan in Your Business Minimizing Tax Season Anxiety with Three Simple Steps 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.

Today we're delving into the secrets behind effective LinkedIn use—from engaging content creation to strategic commenting and multi-dimensional posts. Cassandra is here to unravel her tips for making meaningful connections and the importance of storytelling in your strategy. Expect to learn why LinkedIn might just be your business's best friend, how to tap into its potential for wider reach, and why personal anecdotes can be just as compelling as business insights. Plus, Cassandra has a special gift for you—a free cheat sheet with 20 top-notch LinkedIn post ideas. Ready to elevate your LinkedIn game and create opportunities that resonate with your audience? Let's get the insights straight from the expert. Cassandra Thompson is a globally recognized speaker whose work casting contestants for Wheel of Fortune, strategizing on the recruitment team at Riot Games, and coaching ambitious professionals made her into a networking paragon. By leveraging the power of LinkedIn, Cassandra helps professionals extend their networking reach far beyond any single event. Backed with the skillset of industry experience and practical application, Cassandra helps her clients establish powerful connections while simultaneously increasing their professional credibility. Recently named the Top Career Channel on YouTube by The Muse, her insights have reached over 11 million people on YouTube and have been featured on high-performing podcasts as well as ABC7, CNBC, and other major media outlets. Whether it's through Cassandra's keynotes, workshops, training, or coaching you always walk away motivated and equipped with actionable steps to implement immediately. Cassandra is on a mission to get people back to building authentic, real relationships. www.linkedin.com/in/cassthompson www.instagram.com/cassthompsonconsulting www.youtube.com/@onehelloconsulting |https://www.linkedin.com/pulse/topics/home What you'll hear in this episode: 05:18 Challenges in posting content on professional platforms. 09:19 Professional content on LinkedIn, personal posts important. 12:31 Be creative, stand out for the right purpose. 16:11 Passion for simplicity and non-conformity resonates. 17:51 Engage with comments, build authentic relationships online. 22:25 Engage in daily, thoughtful comments to grow. 25:30 LinkedIn uses AI to create collaborative articles. 26:27 Engage on LinkedIn to build profile presence. If you like this episode, check out: How to Build Trust with Your Customers Why Just Bumping Up Prices Doesn't Cut It Navigating Networking When You're Not a Fan of Events 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.

On this episode of Keep What You Earn, we dive into the world of LinkedIn with expert Cassandra Thompson. Host Shannon and Cassandra explore the must-haves for a killer LinkedIn profile and how to strategically use the platform to benefit your business. From the importance of your profile picture and headline to leveraging the featured section and incorporating a company page, Shannon and Cassandra break down the core mistakes to avoid and the opportunities to seize. Join us as we unravel the secrets to making LinkedIn work for you and your business. Cassandra Thompson is a globally recognized speaker whose work casting contestants for Wheel of Fortune, strategizing on the recruitment team at Riot Games, and coaching ambitious professionals made her into a networking paragon. By leveraging the power of LinkedIn, Cassandra helps professionals extend their networking reach far beyond any single event. Backed with the skillset of industry experience and practical application, Cassandra helps her clients establish powerful connections while simultaneously increasing their professional credibility. Recently named the Top Career Channel on YouTube by The Muse, her insights have reached over 11 million people on YouTube and have been featured on high-performing podcasts as well as ABC7, CNBC, and other major media outlets. Whether it's through Cassandra's keynotes, workshops, training, or coaching you always walk away motivated and equipped with actionable steps to implement immediately. Cassandra is on a mission to get people back to building authentic, real relationships. www.linkedin.com/in/cassthompson www.instagram.com/cassthompsonconsulting www.youtube.com/@onehelloconsulting |https://www.linkedin.com/pulse/topics/home What you'll hear in this episode: 03:52 Learned from experience, passionate about helping others. 07:35 Managing inbox with canned responses, filtering messages. 10:20 LinkedIn connections rely on mutual acquaintances, boundaries. 15:39 Newer feature allows link promotion on LinkedIn. 16:18 Auditing profile while listening for key details. If you like this episode, check out: How to Build Trust with Your Customers Why Just Bumping Up Prices Doesn't Cut It Navigating Networking When You're Not a Fan of Events Want to learn more so you can earn more? See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator 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 soul-stirring episode, we take a personal turn as I recount the influential role my father played in guiding me toward a path in accounting—a decision that spiraled into a career marked by highs, lows, and tough lessons learned. I'll share with you the profound impact of his words, especially when faced with ethical dilemmas and personal conflict at a big four firm, leading up to the life-altering advice to "do whatever the fuck" I wanted. This episode delves into the heart of making choices that align with our core values, and the importance of resilience and support systems that empower us to pivot toward more fulfilling ventures. Join me as we navigate through these transformative experiences and the lasting wisdom from a father to his daughter. And before we sign off, don't miss out on my free tax deduction guide to help keep more of what you earn. What you'll hear in this episode: 04:06 High school electives included fine arts options. 07:14 Understanding teen's passion can have broad impact. 12:57 High school accounting class set me up. 15:59 Firm accused of forging documents for inspection. 18:17 Job offer dilemma: stick with current company? 23:04 Lesson from father: be patient and persevere. 26:23 Realized late that he wanted me independent. 29:47 Seeking fun opportunities, I explored diverse roles. If you like this episode, check out: The Best Hiring Skill You Need How to Make Sure Your Pay Aligns with Your Business Structure Should You Hire Your Family? Want to learn more so you can earn more? Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide 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, we dive into the topic of taking money out of your business. Shannon breaks down the complexities of taking money out of different types of businesses - from single-member LLCs to S Corporations, Partnerships, and C Corporations. Shannon explains the implications of taking money out of your business, the importance of managing cash flow, and how to pay yourself in ways that minimize tax implications. Tune in to gain valuable insights and actionable tips for managing the financial side of your business. What you'll hear in this episode: 03:34 IRS taxes all income, plan withdrawals wisely. 07:47 Determining reasonable salary for entrepreneurs is ambiguous. 12:50 Consider unequal distributions and guaranteed payments in partnerships. 14:15 Trainer seeks extra payment for unequal business work. 17:20 C corporation tax implications and payment considerations. If you like this episode, check out: How Publishing a Book Affects Your Taxes Decoding the Messages in Your Numbers What Your Numbers Are Trying to Tell You Want to learn more so you can earn more? 5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh 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 immersing ourselves in the realm of business negotiation. Begin with meticulous research and preparation, understanding your counterpart's position. Shift your focus from fixating on price to embracing the overall value a deal can offer. Think long-term and assess the enduring impact of your agreements. Navigate power dynamics astutely, recognizing who holds sway in the conversation. Importantly, be willing to walk away from a deal that doesn't mutually benefit both parties. This episode is your guide to mastering negotiation strategies, propelling you to thrive in the dynamic world of business negotiations. Join us for insights that will amplify your success in the art of deal-making! What you'll hear in this episode: [0:50] Negotiations permeate many facets of business, whether you're aware or not. [2:00] Prioritize homework and research before stepping into any negotiation. [4:28] Identify who holds the upper hand as you enter the conversation. [6:00] Be ready to exit a deal if mutual benefit is absent. [8:00] Emphasize building relationships, sometimes more valuable than the immediate deal. [9:40] Embrace a focus on value over price. [12:22] Shift your perspective from short-term gains to the potential long-term value of the deal when negotiating. If you like this episode, check out: Why You Need More Than One Type of Mastermind Want to Leave Your Corporate Job? It's Easier Than You Think Do You Really Need a Business Plan? 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.

On this episode, Shannon and guest Guillermo Salazar delve into the complexities of passing on a family business to the next generation. They explore the challenges of getting the next generation engaged in the business and discuss the importance of maintaining the value of the business through effective succession planning. Guillermo shares insights from his book, "A Road to Triumph in Family Business," and highlights the significance of communication, defining the purpose of the family business, and setting clear rules. Join us as we uncover valuable lessons on leaving your business as a legacy and navigating the intricacies of family businesses. Guillermo Salazar is an advisor to family enterprises on the governance models and strategies required for successful family governance and leadership succession. Earlier in his career, Mr. Salazar was a member of the management team for his family's second-generation family business. He has also served as a board member for privately held family enterprises in the U.S. and Latin America. He speaks to family enterprises at education programs and private family meetings around the world. In 2015, he was the recipient of the FFI International Award and in 2023 he was inducted in The Hall of Fame of Family Business. He is author of several books. https://www.linkedin.com/in/guillermosalazar/ https://www.youtube.com@guillermosalazar9208/ https://twitter.com/guillermoexaudi What you'll hear in this episode: 05:02 Take ownership of decisions, plan for succession. 09:45 Frame transparency, share successes, enrich lived experiences. 12:06 Business mindset must engage the younger generation's curiosity. If you like this episode, check out: How to Introduce Your Kids to Money How to Pour Money Into Your Business How to Build a Sellable Business with Arthur Petropoulos 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're getting into the intricacies of managing and navigating family businesses with special guest Guillermo Salazar. Guillermo, an experienced family business advisor, sheds light on the challenges and dynamics of family-owned enterprises, offering valuable insights and strategies. Listeners will gain a deeper understanding of the importance of setting clear rules, creating a shared vision, and establishing a balanced structure for the successful integration of family dynamics into business operations. Join us as we explore the intersection of family relationships and business, offering practical advice for maintaining harmony and direction in family-owned businesses. Guillermo Salazar is an advisor to family enterprises on the governance models and strategies required for successful family governance and leadership succession. Earlier in his career, Mr. Salazar was a member of the management team for his family's second-generation family business. He has also served as a board member for privately held family enterprises in the U.S. and Latin America. He speaks to family enterprises at education programs and private family meetings around the world. In 2015, he was the recipient of the FFI International Award and in 2023 he was inducted in The Hall of Fame of Family Business. He is author of several books. https://www.linkedin.com/in/guillermosalazar/ https://www.youtube.com@guillermosalazar9208/ https://twitter.com/guillermoexaudi What you'll hear in this episode: 03:34 Family business growth: organic, complex, role confusion. 06:47 Family business is a complex, intertwined system. 10:33 Establish specific forums for decision-making and boundaries. 13:42 Commitment based on shared dream leads success. 17:28 Promote family bonding and guide future legacy. 20:01 Fears about legal setup can hinder entrepreneurship. If you like this episode, check out: How to Introduce Your Kids to Money How to Pour Money Into Your Business How to Build a Sellable Business with Arthur Petropoulos 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.

Join Shannon and her husband, Jason, from the car on a trip visiting family as they chat about business and Jason shares some wisdom from his years of running his sales teams. Jason recently exited his business of 17 years and considers sales to be his biggest strength and key to success. What you'll hear in this episode: 05:11 Consistent pitch leads to consistent results. 09:29 Starting with questions, using forms to gather pain points. 12:05 Sales should be consultative, not high-pressure. Incentives drive successful commission structures. 16:36 Used Excel to determine required sales targets. 19:06 Customer values relationship and service over price. If you like this episode, check out: How to Set a Pattern of Success for 2024 How to Create More Accurate Forecasts Why Building a Sellable Business Should Be Your Goal 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.