One of the questions I get the most is whether or not you need to file taxes for your business even if you're losing money.

The quick answer is yes, definitely. 

In this post we'll be covering how filing a loss benefits you and what you need to do to make sure you don't get yourself in trouble.

New here?

Be sure to grab my free Starting a Biz Checklist that has 12 action steps to prevent you from making mistakes that can cripple your business.

Also, check out the following blogs that help you take fear out of the numbers side of your biz, save money and stay out of trouble:

Where to Start When Starting a Biz

How Being an S Corp Can Save You Money

How to Keep Your Small Biz Expenses Organized

Venmo for Business - Is It Bad?

7 Sales Tax Basics for the Busy Entrepreneur

Why I Worry About Today's Entrepreneurs

3 Things You Need to Know About Tax and Accounting as Your Own Boss

Losing money in the beginning is totally normal and okay.

First, I think it's...

Do you have a business idea dancing around in your head, but you're stuck on where to get started?  Need help figuring out exactly where to start when starting a biz?

I’ve been there, not too long ago.  And I know how overwhelming it can be making the leap into entrepreneurship. 

You spin your wheels, consider the 20 things you need to do, and as you go to check each item off your list, you find 10 more things you never even thought of to add to that ever-growing list.

You are busy and you want to work on the fun stuff in what little time you have… like making a pretty web page and growing your social media following. 

These things are important, but…

As a CPA and an entrepreneur myself, I’ve seen so many people in your exact shoes who prioritize wrong and jeopardize their success. 

New here?

Be sure to grab my free Starting a Biz Checklist that has 12 action steps to prevent you from making mistakes that can...

Ever wondered what the difference is between an LLC and S Corp? 

If you’re an entrepreneur or a small business owner, chances are you’ve heard whispers that you should be an S Corp.  Maybe your accountant has already made that election for you and you’re currently set up as an S Corp, or perhaps your friends and family are encouraging you to do so.

S Corps can be powerful money saving tools, but they can also be more trouble than they’re worth. 

Also, there are some specific guidelines for which businesses qualify for as an S Corp. Maybe you’ve simply heard of the name but don’t actually know what it is.

In this post we'll talk about what an S Corp is, how it can save you money, and when it might actually cost you.

New here?

Be sure to grab my free Starting a Biz Checklist that has 12 action steps to prevent you from making mistakes that can cripple your business.

Also, check out the following blogs that help...

Are you struggling with keeping track of your small business expenses in an organized way?

Today I’m going to share with you four easy to implement tips that will help you keep your small business expenses organized.

New here?

Be sure to grab my free Starting a Biz Checklist that has 12 action steps to prevent you from making mistakes that can cripple your business.

Also, check out the following blogs that help you take fear out of the numbers side of your biz, save money and stay out of trouble:

Where to Start When Starting a Biz

How Being an S Corp Can Save You Money

How to Keep Your Small Biz Expenses Organized

Venmo for Business - Is It Bad?

7 Sales Tax Basics for the Busy Entrepreneur

Why I Worry About Today's Entrepreneurs

3 Things You Need to Know About Tax and Accounting as Your Own Boss

Getting organized saves you time and money.

It’s important to develop a system to keep your income and expenses organized for a couple of reasons. The...

How this free payment method might be costing your small business money, and what you can do instead.

Today I want to talk all about using Venmo for business.  Even though it can be used without fees, it might be costing your small business money depending on how you’re using it.  Let me explain how that’s possible and what you can do instead.

New here?

If you're brand new to business and need a place to start, be sure to grab my free Starting a Biz Checklist that has 12 action steps to prevent you from making mistakes that can cripple your business.

Also, check out the following blogs that help you take fear out of the numbers side of your biz, save money and stay out of trouble:

Where to Start When Starting a Biz

How Being an S Corp Can Save You Money

How to Keep Your Small Biz Expenses Organized

Venmo for Business - Is It Bad?

7 Sales Tax Basics for the Busy Entrepreneur

Why I Worry About Today's Entrepreneurs

3 Things You Need to Know...

Let’s talk about self-employed tax tips for network marketers.

You found a product you love and made the decision to sell it.  Awesome!  I’ve seen the potential network marketing can have and I certainly relate to the desire to earn extra income and break free of the life sucking 9-5.  I’ve seen people leave all sorts of traditional jobs and become full time network marketers and they end up much happier and more fulfilled than in any of their other careers. 

Maybe you’re partially motivated by the discounts on products you already use and love, or maybe you’re putting all your effort into making sure this can lead to a full-time gig.  I’ve met women who fall into either of these categories and they're both ok!

In either scenario, you definitely have to consider taxes because… congrats, lady!  You’re self-employed now!  Official #bossbabe status!  Now not only are you able to use...

Do you have a firm grasp on sales tax and your business? 

Sales tax is a mother and it’s super important that you’ve considered it.  It can either seem deceptively easy so you ignore it, or it can be totally overwhelming.  Sales tax is a widely neglected area that is majorly important and constantly changing, especially if you sell products online – that goes for tangible products (ones you can touch) or digital ones.

Lots of people have confusion here, so I’m going to provide some clarity regarding sales tax basics for busy entrepreneurs in this article.

New here?

If you're brand new to business and need a place to start, be sure to grab my free Starting a Biz Checklist that has 12 action steps to prevent you from making mistakes that can cripple your business.

Also, check out the following blogs that help you take fear out of the numbers side of your biz, save money and stay out of trouble:

Where to Start When Starting a...

As a CPA, I worry about entrepreneurs more than ever. 

One thing I’ve noticed when talking to a lot of entrepreneurs is they aren't all sure that’s what they are.  So, let me clarify – if you make any side income that doesn’t go on a paycheck with taxes taken out – you are self-employed! 

This goes for people who drive for Uber, deliver for Instacart, sell products through a direct sales or MLM company, sell items on Esty (or any other online platform), and so on.  If you earn money directly from your own customers or clients or if you receive a 1099 at the end of the year because you were paid as an independent contractor – you are self-employed as far as the IRS is concerned, and there’s definitely more to it than the simplicity of being an employee.

Being self-employed is amazing and I’m a passionate supporter of entrepreneurship.  I love seeing people believe in themselves, take a leap of faith and put...

So you started out in business on your own?

That's great!

I've been in your shoes. Entrepreneurship gives you all the emotions.  Excitement, fear, anxiety, empowerment. You're learning new things every day and hustling hard to get your product or service out to the world and start bringing in the moo-lah so you can pay the bills and work towards financial freedom.

It's busy. It's exciting. And it can be really overwhelming.  

Am I right?

If you're like most of my friends starting out on their own, I bet there's one part of your business that's hanging out on the back burner - the numbers side of things.

Look - I get it.  The numbers side of your business isn't the fun part.  It's not your passion, it's not going to get you any likes or attention, and it seems like it can wait.  It's easy to neglect, especially if it overwhelms you as it is.  

But...

Waiting around does not make this responsibility go away.  If you're neglecting the...