73 episodes
What Your CPA Wants You to Know Carson Sands, CPA & Teran Sands, MBA.
-
- Business
A podcast for entrepreneurs! We are a husband and wife team running our CPA firm together. We know just how difficult it can be to take your business dream to a reality. Our mission for this podcast is to guide, empower, and educate entrepreneurs in an easy-to-understand way! We want business owners to have the information that they need when they need it, AND without the hefty accounting invoices from a CPA! Follow along for practical advice, tips, and tricks from a CPA who knows what it is like to run a business, and strategies to keep your business thriving from an MBA! We will also show you how to run a business while keeping your family and sanity intact along the way! What are you waiting for???
-
72. All LLC Owners MUST File This *NEW* Federal Report! Here's What You Need to Know About The BOI!
Have you heard of the new Beneficial Ownership Information Report that must be filed by all LLC owners in the U.S?!? This is the first year it is required and it is due quickly if you filed a NEW LLC in 2024. It's due by the end of the year if you file for an LLC established before 2024!
In this episode we explain what this new BOI report is and help you understand everything from the filing process on the FinCEN website to the substantial penalties that will be assessed if you forget(!).
We lay out all the info you need to meet the critical deadlines and explain when you might need to refile. This episode is SO important for all LLC owners! Send this to everyone you know who has an LLC!
Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!
Our CPA firm website!
Purchase our new business guide!
Our Instagram Page
Our family page -
71. It's Time To Have A Quarterly Review Meeting: How We Track Our Goals & Growth in Our Business
In today's episode, we take off our "accounting" hats and put on our "business owner" hats to share how we do a quarterly meeting in our business and how you can do it too!
Ever wondered how tweaking your pricing strategy could work wonders for your revenue? That's just one tip we share as we guide you through the art of conducting a quarterly business review to supercharge your growth.
We explain how we review our financial reports every quarter to uncover growth trends, optimize expenses, and set achievable goals for our small business.
In this episode we discuss using automations in business, cutting costs, planning for upcoming months, and saving for taxes. A quarterly review is a must for all business owners!
Stay with us, and you'll learn how to make every quarter count, laying the groundwork for a financially sound and thriving business.
Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!
Our CPA firm website!
Purchase our new business guide!
Our Instagram Page
Our family page -
70. Reviewing Your Tax Return: A Skill Everyone Should Know!!!
Do you know how to read your tax return? Do you review your tax return when your CPA sends it over? Do you know how?
In this episode we explain the numbers on your personal tax return (Form 1040) and how to review your tax return. A skill everyone should have! This episode is perfect for everyone, whether you file your return yourself or pay your CPA to prepare your tax return.
We also explain our progressive tax system, the ins and outs of self-employment taxes, and strategies like S-corp status that could potentially lighten your tax burden. By the end of this episode, you'll be equipped to review tax payments and withholdings with the skill of a seasoned pro, ready for the next tax season without any nasty surprises.
Plus, we tackle the critical step of signing Form 8879 for e-filing, and why aligning the numbers on your tax return with those on the form is not just about accuracy—it's about peace of mind. So, grab your tax return and join us for a session that promises to educate and empower you for future tax seasons.
Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!
Our CPA firm website!
Purchase our new business guide!
Our Instagram Page
Our family page -
69. Building a Business You Love: With Josie of Love for the Littles
Every now and then, we cross paths with someone whose strength is so palpable, it resonates through their stories and touches our lives.
Josie's story of unwavering love and resilience as she navigated the diagnosis of her third daughter's heart condition and Down syndrome is one you won't forget. Our latest episode offers a window into her world, where the simple act of crafting bracelets sparked a global chain of support. These bracelets symbolized hope and togetherness for people all around as her daughter braved the critical heart surgery. Josie's candid recounting reminds us that even in our darkest times, the compassion of others, can shine through.
Josie started her business, Love for Littles, a venture where passion meeting business. Josie's story captivates as she details how a personal mission evolved into a means of solace for families battling health crises. It's not just about the bracelets, but the bonds they foster. As her children contribute, taping these symbols of solidarity onto cards, we're reminded that business can be both a labor of love and a family affair.
Join us to hear how Josie started a business from passion and how she is making money while also supporting others along the way!
Find Love for the Littles Here:
Website: www.theloveforlittles.com
Instagram: https://www.instagram.com/theloveforlittles
Facebook: https://www.facebook.com/theloveforlittles
TikTok: https://www.tiktok.com/@theloveforlittles
Phone Number: (920)207-9453
Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!
Our CPA firm website!
Purchase our new business guide!
Our Instagram Page
Our family page -
68. Filing an Extension For Your Tax Return? Here's What You Should Know!
Do you need more time to file your tax return this year? If so, don't forget to file an extension to reduce penalties!
In this episode, you'll learn the ins and outs of tax return extensions.
We dissect deadlines for all tax return filings and the penalties assessed if you do not file on time and/or do not file an extension.
We also talk penalties and interest—because if there's anything less exciting than watching paint dry, it's watching your hard-earned cash wash away to the IRS. But fear not! We've got your back, breaking down how the IRS penalizes those who file late and those who forget to file an extension.
And if you're staring down a tax bill that looks more like a phone number, don't panic! We cover the IRS payment plan and why it beats the ostrich strategy (aka burying your head in the sand) every time. So, sit back, relax, and let us guide you through all the details you need to know about filing an extension for your tax return!
Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!
Our CPA firm website!
Purchase our new business guide!
Our Instagram Page
Our family page -
67. Do You Need a Trust? Here's What You Need to Know About Trusts & Estates!
Ever wondered how you could safeguard your financial legacy with a trust? Why do people set up a trust? How do they work?
That's what this episode is all about!
In this episode we explain the nuances of trusts, and there are a lot! We start by explaining exactly what a trust is, how it is used, and the various types of trusts.
We also explain the tax implications for the various types of trusts (of course)!
We discuss the many reasons why establishing a trust could be a wise move for you. Not only do trusts offer a robust shield for your assets from unforeseen legal challenges, but they are also pivotal in estate tax planning and planning the distribution of your wealth.
Whether you're looking to preserve a family business, ensure future care for a loved one with special needs, or simply lay a solid foundation for personal financial planning, this episode is your guide.
Here's where you can find us! Follow along on Instagram for lots of free content for business owners daily!
Our CPA firm website!
Purchase our new business guide!
Our Instagram Page
Our family page