Keep What You Earn

Hey there, fellow entrepreneurs! We all know that when you work hard for your money, you should get to keep it. It's a fundamental principle in my business, and it resonates with numerous fractional CFOs and financial experts out there. Enter David Richter, a newfound friend I connected with at a recent conference, who shares this core belief. I've invited him to join us on the show today to delve into his perspective. David, much like myself, believes that your business should empower you to savor the things you love in life, and he's here to shed light on how the right frameworks can make this dream a reality. David Richter is the author of Profit First for Real Estate Investing - a derivative of the original Profit First by Mike Michalowicz that is tailored specifically to Real Estate Investors. His goal is to completely transform the Real Estate Investing industry by helping real estate investors make and KEEP more money in their businesses. As the founder and owner of SimpleCFO Solutions, he wants to bring investors true financial clarity and freedom and help every investor stop living deal to deal. This episode is a can't-miss for any entrepreneurs who are constantly feeling cash flow pressures or like their business isn't providing enough for them. Give Relay Financial a Try: https://app.relayfi.com/register?referralcode=FitnancialSolutions Connect with David: simplecfo.com/gift IG: @richterscale91 What you'll hear in this episode: [3:00] So, who's David, and how did he stumble upon the Profit First framework? [6:44] Let's dive into the nitty-gritty of the Profit First framework's essentials. [17:15] How did David find his CFO calling when he didn't have a financial background? [23:29] Ready for the first steps to integrate Profit First into your life? [31:15] Unpacking the distinction between the business profit and owner's compensation accounts in Profit First. [34:15] Discovering your "keep" number for what you need from your business - how's it done? [37:35] Witness how David's weaved these strategies into the fabric of his growing CFO firm. If you like this episode, check out: The Benefits of Creating a Sellable Business Ways to Increase Revenue If You Hate Sales Coaching Alone Can't Resolve Your Cash Flow Problem 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.

In today's episode, we're delving into the realm of tax deductions tailored for entrepreneurs. For those steering their own business ship, discerning the deductibles from the non-deductibles can be a game-changer when it comes to maximizing your earnings. We'll decipher the intricate world of deductions – how they function, what classifies as a legitimate deductible expense, and what falls under the umbrella of your business-related costs. Understanding the fine lines and potential pitfalls when claiming deductions is essential, so we'll offer some strategic insights to minimize the risk of drawing unwanted attention from the taxman. Additionally, we'll emphasize the significance of presenting a strong case to substantiate the expenses you intend to write off. Join us as we navigate the labyrinth of tax deductions designed especially for entrepreneurs, equipping you with the knowledge to harness the available deductions to your advantage. What you'll hear in this episode: [3:00] Unraveling the Enigma of Tax Deductions [4:53] The Anatomy of Deductibility: Unveiling the Truth [6:26] Navigating the Terrain of Business Expenses [8:53] Walking the Line: Risks and Boundaries in Deduction Claiming [10:00] The 3 D's: Essential for Deduction Success [12:23] A Tactic to Diversify Your Expense Allocations [15:30] Safeguarding Your Business Case: The Unsung Hero of Deductions If you like this episode, check out: What is a W-9 and Who is Required to Have One Business Boredom - Does it Need Fixing? Building Systems Based on Problems 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.

Have you ever felt like you didn't deserve to be in the room or to receive the recognition you deserved? I think we all struggle with this, especially as we encounter new challenges and new environments in business. Join me for this conversation on the impact and costs of imposter syndrome with John Mollura. John Mollura is a professional speaker who went from being a literal rocket scientist to a multi-award-winning portrait photographer and coach. He educates and empowers his keynote & workshop audiences to turn down the volume of Imposter Syndrome and provides coaching for men to help them stop the endless cycle of "what ifs" and become men of authentic action. Website: https://johnmollura.com Instagram: https://www.instagram.com/john_mollura/ Facebook: https://facebook.com/johnmolluraspeakingandcoaching YouTube: https://www.youtube.com/channel/UCWwEUyxuNHowfAaWLPnmLxQ LinkedIn: https://www.linkedin.com/in/john-mollura-1a148124/ What you'll hear in this episode: [07:47] Imposter syndrome can stem from complex psychological factors, such as upbringing and childhood experiences that create a constant internal struggle between feeling praised and feeling inadequate. It is important for parents to understand how their actions impact their children's development. Additionally, imposter syndrome can also arise in non-inclusive environments. [16:49] Importance of quiet confidence and accepting compliments. [24:43] You don't need big achievements to be proud. Celebrate every little success and find joy in the simple things. Surround yourself with reminders of your accomplishments and moments that bring you happiness. Feeling overwhelmed? Let your past wins inspire you to keep going. 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.

Multiple masterminds?!? Yes - today we talk about the types of masterminds you should be looking for as a business owner and the various benefits and considerations when deciding to invest in each. What you'll hear in this episode: [2:41] Investing in a mastermind of your peers [8:35] Surround yourself with people who stretch you [11:10] Surround yourself with people who need you If you like this episode, check out: Do You Really Need a Business Plan? Want to Leave Your Corporate Job? It's Easier Than You Think The Two Best Ways to Gain Clarity on Your Next Steps 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.

The holidays creep up every year! We tend to get ambitious about what we can get done by the end of the year, so in this episode, Shannon breaks down just three SIMPLE things that, if done in the next few weeks/months, will make a positive impact on your business finances. What you'll hear in this episode: [2:04] The benefits of getting caught up on your books [6:00] Securing the right tax pro for you and your business [8:09] Resource available to you to find the right tax professional [9:26] Reviewing expenses you've paid to vendors over the year [14:36] Why investing in help before the end of the year will help in the long run If you like this episode, check out: Tax Deadlines You Need to Know as a Small Business Owner Take Advantage of an Accountable Plan in Your Business Real Talk on Social Media Tax Advice Want to learn more so you can earn more? Text me the word DAILY to get tips each weekday to get you into a CEO mindset! 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.

We all have that bookshelf or audible library full of partially finished or unopened books, or those notebooks full of notes from the books we have read but we have not taken any action on what we learned. We let our existing habits get in the way of integrating in this new knowledge. That is why my guest Nick is here today to teach ways to turn your reading into results. Nick Hutchison is the author of Rise of the Reader: Strategies for Mastering Your Reading Habits and Applying What You Learn and founder of BookThinkers, a growing 7-figure digital marketing agency that serves mission-driven authors. At the age of 20, Nick discovered the world of personal development and quickly used the books he was reading to improve every aspect of his personal and professional life. Now, Nick has dedicated his life to helping millions of readers take action on the information they learn and rise to their potential. Nick's podcast, BookThinkers: Life-Changing Books, features captivating interviews with world-class authors such as Grant Cardone, Lewis Howes, and Alex Hormozi. During these insightful discussions, Nick delves into the pages of their books, uncovering practical and transformative takeaways for his motivated audience. Buy the book on Amazon: https://a.co/d/c9dE0ln Learn more about Nick: www.nickhutch.com Learn more about BookThinkers: www.bookthinkers.com Personalized Book recommendation: DM Nick at www.instagram.com/bookthinkers What you'll hear in this episode: [4:06] Nick discusses some tips on how to turn reading into results as entrepreneurs. [7:17] What are some tips for people who are overwhelmed with too many books they have not read sitting on their bookshelves? [11:54] Nick dives into why he is so passionate about reading and helping authors. [22:59] Nick talks about his book and who is the target audience. [28:58] What is better? Reading a book? Or listening to a book? [36:04] What are some ways we can set our selves up for success and how to implement them? 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? Business Financial Quickstarter: https://www.keepwhatyouearn.com/bfq 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.

I've recently come to a realization that there was a gap in my range of product offerings. Some of my clients expressed a desire for CFO services, but they weren't quite prepared for a recurring CFO package. This realization inspired me to introduce something I like to call "CFO Power Sessions." In this podcast episode, I'll be delving into the details of what these sessions entail, their structure, the benefits you can expect to derive from them, and sharing some of the success stories from previous clients. My passion lies in delivering CFO services and aiding businesses in their growth, and the introduction of these CFO Power Sessions has allowed me to indulge more in what I'm truly passionate about. What you'll hear in this episode: [0:55] Discovering the gap in my product offerings. [2:35] The birth of the concept behind my latest offering, CFO Power Sessions. [4:25] Exploring the essence of a CFO Power Session. [6:36] Unveiling the structure of these sessions. If you like this episode, check out: https://podcasts.apple.com/us/podcast/questions-to-ask-yourself-as-a-ceo/id1580071347?i=1000617249079 https://podcasts.apple.com/us/podcast/you-accomplished-your-goal-whats-next/id1580071347?i=1000618331196 https://podcasts.apple.com/us/podcast/financial-metrics-to-know-for-product-based-businesses/id1580071347?i=1000619111338 Want to learn more so you can earn more? CFO On Demand click https://www.keepwhatyouearn.com/cfo-on-demand Visit https://keepwhatyouearn.com to dive deeper on our episodes Visit https://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

What makes a good leader? Is it about the influence they have, or the impact they make? Can a leader be a leader if they do not have a following? These are questions we unpack in today's episode with leadership expert, the Pink Coach, Claudine Pereira. Claudine works with small business owners and leaders, through coaching, training, and consulting she brings laser focus and strong structure, allowing them to stand out as confident, proud, and polished professionals. An inspirational speaker, certified life coach, and internationally bestselling co-author of Live out Loud, Claudine is passionate about her work! Website: www.thepinkcoach.com FB: https://www.facebook.com/ThePinkCoach/ IG: https://www.instagram.com/thepinkcoach/ LinkedIn: https://www.linkedin.com/in/claudinepereira/ What you'll hear in this episode: [4:05] Claudine discusses what made her passionate about leadership coaching. [6:21] What is the difference between a boss and a leader? [10:15] What are the behaviors of a good leader in the light and the dark? [22:17] Do leaders always have to have followers? [26:36] When is a good time to be a leader vs taking a back seat and letting someone else lead? [40:03] What are some of the "risks" associated with being in a leadership role? If you like this episode, check out: What Traits We Look For in a Client How to Manage Remote Teams Should I Hire Contractors or Employees? Want to learn more so you can earn more? Text me the word DAILY to get tips each weekday to get you into a CEO mindset! 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 podcast episode, we delve into a rarely explored yet highly significant query, with the intention of offering business proprietors an all-encompassing insight into their expenditure choices. Frequently, business owners lean towards the deduction of an entire expense within a single fiscal year. Nevertheless, it's imperative to recognize that when a specific purchase can be classified as an asset, the prospect of extending the expense over several years emerges as a feasible alternative. This strategy can effectively diminish your tax obligations gradually. By thoughtfully contemplating the categorization of your expenses, you can fine-tune your tax responsibilities and enhance your ability to manage your financial assets more efficiently. What you'll hear in this episode: [1:25] Clarifying the concept of expenses within your business. [1:56] Exploring the definition of assets within your business. [3:00] Unveiling the significance of extending a purchase over several years, also known as depreciation. [4:50] Demystifying the safe harbor threshold. [6:15] Examining the advantages of your comprehension of assets versus expenses in your business to enhance your tax deduction potential. [7:09] Delving into the realm of intangible assets within your business. If you like this episode, check out: The Benefits of Business Continuity Planning with Jim Erben Building Your Money Machine with Mel Abraham Building a Successful Continuity Plan with Julee Yokoyama 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.

You can teach your kids about money without being a master at it yourself. All you need to do is include them in the process and bring them along. In today's episode I share how you can start to include your kids in more money decisions and get them exposed so they can build their own, more positive, money story. What you'll hear in this episode: [2:34] How to involve your child in the buying process [7:11] Teaching the function and purpose of budgeting [10:40] The importance of being a smart borrower [12:40] Normalizing conversations about money with your kids If you like this episode, check out: The Benefits of Business Continuity Planning with Jim Erben Building Your Money Machine with Mel Abraham Building a Successful Continuity Plan with Julee Yokoyama 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.