Cosmic Coin Drop Lauren Poppins Raye

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There are many layers of depth to what it means to be “on it” when it comes to your business books, but there’s one thing that’s SO easy to do that will go a long way to set yourself up for ease when you get around to getting a solid system set up and getting it right…

That one thing is to have a separate bank account for your business income & expenses.

If you’re currently less than “on it” with your business books, don’t complicate this one thing.

It doesn’t matter if it’s technically a business account with your bank. 
It doesn’t matter if you have an official business entity to connect it with.
It doesn’t matter if you have EIN, or a business license, or business name.

For this one thing, all that matters is that it’s SEPARATE from your personal money.

This is important for 2 reasons that your future self will thank you for:

1️⃣ If heaven forbid you ever get audited, it will look really bad to the IRS if you have to show them bank statements with both personal and business activity on them. And you don’t want to look bad to the IRS if you want to be on their good side. (You want to be on their good side.)

2️⃣ When the time comes to play catchup and categorize your YTD (year to date) activity to get current with your super sleek automated bookkeeping system (more to come on this later), you DO NOT want to have to sort through every transaction to figure out what is business.

I’ve helped many clients through the catchup game to get current, and the thing that is the most tedious and unnecessary that slows the whole process down is first having to separate everything one line at a time.

If you don’t already have 2 separate checking accounts for personal and business money, open a 2nd one. Trust me, you’ll thank me later.

And before you go to swipe or spend, ask yourself the quick question: “Is this personal or is this business?” 

Then use the correct account. 

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🎙️ Brought to you by Lauren Poppins Raye – Follow on IG @cosmicbizwitch for the support to steward your boss currency flow & steer your self-employed success 💫

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I get that not everyone gets excited about their bookkeeping. I also understand most would rather not have to do it at all to be a biz owner. But turning a blind eye completely is a bad move and here’s why…

It was a common theme for clients to come to me to do their taxes disempowered year after year because they didn’t have a bookkeeping system in place. And while yes, I was able to put a band aid and some salve on that area of neglect each time, it did nothing to alleviate the actual problem.

And while there is some satisfaction in coming to clients’ rescue, I hated not truly being able to help where they needed it because I was too busy putting out all the fires of tax season.

What I’m working toward being able to focus on next in this arena is to offer the support you actually need. And you may be surprised to hear my position, which is…

Even if you plan to hire a bookkeeper (which I highly recommend), if you want to make that move an empowered one, you first need to learn the basics of how your money flows.

You need to know how to talk to your bookkeeper.

You need to be able to use the information they provide you to make smart decisions for your business.

You need to understand the ins & outs of your currency before you delegate its management.

This is how you enlist support as an empowered business owner.

This is how I love to help.

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🎙️ Brought to you by Lauren Poppins Raye – Follow on IG @cosmicbizwitch for the support to steward your boss currency flow & steer your self-employed success 💫

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If we ruled the world, there wouldn’t be taxes, bc no one wants to have to give up any of their revenue toward a cause not in their control. That said, tax time doesn’t have to suck so hard if you get it together in these 2 ways:

📊 The first is to keep track of your income, expenses, mileage, and anything else you’ll need to file your taxes… IN REAL TIME. There’s a million reasons this is a good idea, but the biggie we’re looking at here is that if you don’t, it’s a FKN NIGHTMARE to have to remember, find, and piece together what you need for a whole year while the clock is ticking and your tax preparer is nagging you every other day. I don’t want this for you, and I don’t want it for your tax preparer (who is hopefully my five star referral… iykyk - if you don’t, ask!)

💰 The second is put some of the money you make aside to cover your tax liability… AS YOU MAKE IT. Whether you are required to make estimated quarterly payments or not, if you run a business, you should be setting aside a percentage of your earnings to cover your taxes. I don’t use “should” often, but this is one of those times. The heartache alternative that I saw way too often with clients, is finding out what you owe and having no money to pay it. If you’re a biz owner, this is bananas. You can either pay it forward like a smart cookie, or go into debt paying it backward. Trust me, it feels good to know you’ve got it.

Both of these smart money practices will make tax time feel easy breezy, and a time you actually look forward to, to close the year like a boss. 😎

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🎙️ Brought to you by Lauren Poppins Raye – Follow on IG @cosmicbizwitch for the support to steward your boss currency flow & steer your self-employed success 💫

📲 Text me your Cosmic Coin Drop takeaways 🫶🏼
While these feelings are valid, they are likely sourced in the fact that you weren’t taught to tend your money properly, so of course you feel some kind of way about falling short around it as a biz owner. 

While technically my job description as a tax preparer was around tax preparation, a big part of what I actually did for new clients was to help ease the guilt and shame that came with the confession that they were either behind with their bookkeeping and tax filing, or had never done it before at all.

The weight they carried with this was debilitating. Maybe you can relate? It made them anxious whenever they thought about it, which caused them to continue avoiding it. It was a vicious cycle.

It was easy for me to offer reassurance, first of all because they had come to me to make a change, and that said everything about where they were at. 

And second, because IT IS NOT YOUR FAULT. You simply weren’t taught this, so you were set up to have to decide to start caring as an adult, and move through all the feels to do so.

And now that I’m no longer playing this role for tax clients, I get to shout it from the social rooftops so anyone that needs to hear this, can receive this reassurance…

Your feelings are valid, it’s not your fault, and beyond the feels, it’s actually really simple. 

And with my background of living and breathing this stuff, I love to help you know and normalize it too.

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🎙️ Brought to you by Lauren Poppins Raye – Follow on IG @cosmicbizwitch for the support to steward your boss currency flow & steer your self-employed success 💫

📲 Text me your Cosmic Coin Drop takeaways 🫶🏼
🎧 From the BossCosm archives – a pandemic era podcast that interviewed Cosmic Bosses of each Sun Sign to help us all align with the boss energy of each Sun Season:
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Natalie Walstein @soulshineastrology blends ancient astrological wisdom with modern, down-to-earth personal, career & spiritual development strategies to help creative souls on a mission to discover their calling turn it into the work they do for a living, too.⁠ 🐠
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In this episode, we're talking about Pisces energy to align with the powerful opportunities of Pisces Season! ⁠♓️💫⁠
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Our conversation includes: ⁠
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🌟 Believing in your dreams more than your reality⁠
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🌟 The importance of grounding & protecting your energy⁠
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🌟 ending to your sensitivity by limiting your exposure⁠
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🌟 ⁠The psychic abilities of Pisces energy⁠
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🌟 Guidance as “angelic will”⁠
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🌟 Running a business in the age of technology⁠
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🌟 How to filter out the noise⁠
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🌟 Creative processes for stellar imagery⁠
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This is the final episode in BossCosm’s first series. It’s been an honor to feature Cosmic Bosses of every sign of the zodiac to learn together how to best leverage the energy of each Sun Season as we’ve made our way around the wheel of the astrological year.⁠


🎙️ Brought to you by Lauren Poppins Raye – Follow on IG @cosmicbizwitch for the support to steward your boss currency flow & steer your self-employed success 💫

📲 Text me your Cosmic Coin Drop takeaways 🫶🏼
🎧 From the BossCosm archives – a pandemic era podcast that interviewed Cosmic Bosses of each Sun Sign to help us all align with the boss energy of each Sun Season:
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Afura Nefertiti Fareed @afuranefertiti is a mindset witch, artist and guide to transforming your life from mundane to magickal through journaling rituals, balancing the elements and living in season.⁠ 📓
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In this episode, we're talking about Aquarius energy to align with the powerful opportunities of Aquarius Season! ⁠♒️💫
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Our conversation includes: ⁠
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🌟 The unique "alien" muse that liberates your inner genius⁠
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🌟 Spiritual awakening as a catalyst for change in your biz⁠
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🌟 Allowing the discomfort of instability to embrace change⁠
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🌟 ⁠Grounding into the future to be here now⁠
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🌟 The wise Aquarian motivation to build bridges of inclusion⁠
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🌟 Acceptance of ourselves to encourage freedom of expression in all of us⁠
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🌟 Tech tools for introspective journaling to mine stellar content⁠
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Aquarius brings the invitation to tap your genius. Afura & I are both Aquarians, and I know our conversation in this episode will inspire you in all the right ways to embrace this boss season. 🖖🏼⁠


🎙️ Brought to you by Lauren Poppins Raye – Follow on IG @cosmicbizwitch for the support to steward your boss currency flow & steer your self-employed success 💫