Prosper & Get Paid

Emily Bowie & Andrea Mason
  • 5.0 (20)
  • Entrepreneurship
  • Updated Weekly

Welcome to the Prosper and Get Paid Playbook, where we break down how to build real wealth without sacrificing your life to do it. We’re your hosts, Emily Bowie and Andrea Mason of Thorne Advisors, and each week we’re diving into the practical money, tax, and cash flow strategies that help you not just make money, but actually keep it and grow it. If you’re a business owner who wants to build income today and legacy for tomorrow, you’re in the right place. Learn more: https://www.thorneadvisors.com/ 

  1. 3d ago

    Episode 17: S Corporation Levers & Key Considerations

    Have you ever wondered if becoming an S Corporation is actually the right move for your business—or if you could be making the switch too soon? An S-Corp election can open the door to valuable tax strategies, but it also comes with additional costs, payroll requirements, compliance responsibilities, and potential cash flow implications. Andrea and Emily explain why the decision shouldn’t be based on revenue alone and why your net income, business expenses, growth goals, and even the state you live in can all impact whether an S-Corp election makes financial sense. In this episode, Andrea and Emily break down the key considerations business owners should evaluate before becoming an S-Corp. They explain reasonable compensation, why S-Corp owners must pay themselves through payroll, and how strategies like an accountable plan can help owners reimburse themselves for qualifying business expenses paid personally. They also discuss why documentation and keeping business and personal expenses separate are essential when implementing these strategies.\ Tune in to hear: When it may be time to consider an S-Corp electionWhy net income matters more than gross revenue when making the decisionHow S-Corp payroll requirements can impact your cash flowWhat “reasonable compensation” means for business ownersHow an accountable plan can help reimburse qualifying business expensesWhy proper documentation is essential for maximizing tax strategiesHow the Augusta Rule works and when it may be beneficialWhy becoming an S-Corp too early could hinder business growthHow your state can impact the tax benefits of an S-CorpWhy an S-Corp should be viewed as a tax strategy tool—not a business milestone Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

  2. Aug 26

    Episode 16: What to Do When Your Income Is Inconsistent

    Have you ever had a great revenue month in your business… only to find yourself stressed about cash again a few months later? Inconsistent income is a reality for many entrepreneurs, especially those with seasonal businesses or project-based revenue. High-income months can create a false sense of security, making it easy to increase spending, take larger owner distributions, or invest in new ideas without planning for the slower months ahead. In this episode, Andrea and Emily break down how business owners can create more predictability even when their revenue isn’t predictable. They explain why understanding your monthly profit and loss, building recurring revenue, budgeting based on your lowest expected income, and saving during high-revenue months can help smooth out the financial rollercoaster. They also share practical strategies for building cash reserves, separating personal and business finances, auditing recurring expenses, and making difficult decisions when an expense, contractor, or investment is no longer producing a return. The goal isn’t necessarily to make your income perfectly predictable—it’s to build systems that allow your business to remain financially stable when revenue fluctuates. Tune in to hear: Why understanding the seasonality of your business is so importantHow reviewing your profit and loss by month can reveal revenue patternsWhy monthly recurring revenue can help carry your business through slower seasonsHow to budget based on your lowest expected monthly incomeWhy you should save extra cash during high-income monthsHow much you may want to keep in your business cash reserveWhy separating personal and business finances gives you a clearer financial pictureHow cash flow management provides insights your profit and loss statement alone cannotWhy regular expense audits can quickly create more marginHow to avoid chasing new ideas and overspending during profitable monthsWhen it may be time to cut an expense or contractor that isn’t adding valueWhy predictable financial systems matter even when your income is unpredictable Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

  3. Aug 19

    Episode 15: Missed Tax Deduction #3: Health Insurance

    Have you ever wondered whether you are fully using your health insurance expenses to lower your taxes and build long-term wealth? Self-employed business owners may be able to deduct qualifying health, dental, vision, and long-term care insurance premiums. However, these expenses must be reported correctly through payroll and on the individual tax return to avoid missing valuable deductions. In this episode, Andrea explains how the self-employed health insurance deduction works and why an HSA can be one of the most powerful tax-advantaged accounts available. She also shares common mistakes, including choosing the wrong insurance plan, exceeding contribution limits, and leaving HSA funds sitting in cash instead of investing them. Tune in to hear: How the self-employed health insurance deduction worksWhich insurance premiums may qualifyWhy proper payroll and tax reporting mattersWho is eligible to open an HSAHow the HSA triple tax advantage worksWhy HSA funds can support long-term retirement savingsCommon HSA contribution and eligibility mistakesWhy leaving HSA funds in cash can limit growthWhat to ask your CPA or bookkeeper Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

  4. Aug 12

    Episode 14: Cash Leak #3: Skipping Regular Expense Audits

    Have you ever looked at your business expenses and wondered where all your money is actually going? Small recurring charges, unused memberships, duplicate software, and last-minute purchases may not seem significant on their own, but over time, they can quietly drain your cash flow and reduce your profitability. Even when a bookkeeper is accurately categorizing every transaction, business owners still need to understand what they are paying for and whether each expense is delivering a meaningful return. In this episode, Emily breaks down cash leak number three: skipping regular expense audits. She explains why outsourcing your bookkeeping should not mean disconnecting from your spending and shares practical ways to identify subscriptions, memberships, office purchases, and operational inefficiencies that may be costing your business more than you realize. She also explains how regularly reviewing your expenses can help you create additional financial margin without increasing sales or taking on more work. Tune in to hear: Why every business owner should regularly review their expensesHow unused software subscriptions can quietly drain your cash flowWhy coaching programs, memberships, and communities should be evaluated based on the return they provideHow duplicate services and overlapping tools can create unnecessary expensesWhy frequent Amazon purchases may be hiding larger spending problemsHow poor inventory planning can lead to expensive last-minute purchasesWhy outsourcing your bookkeeping does not eliminate your responsibility to understand your spendingHow greater awareness can naturally improve your financial decisionsWhy Emily recommends completing an expense audit quarterly, or at least once or twice per yearHow canceling unnecessary expenses can create more cash without requiring you to sell moreA simple way to review your credit card statements and take action on recurring chargesWhy scheduling time to cancel or update subscriptions can make a meaningful difference in your business Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

  5. Aug 5

    Episode 13: Contractor vs. Employee: What You Need to Know

    Have you ever wondered whether hiring a contractor is really saving your business money, or quietly creating a costly legal risk? Choosing between an employee and an independent contractor is not simply a matter of preference. Although contractors may appear more affordable because businesses are not typically responsible for payroll taxes, benefits, retirement plans, or health insurance, misclassifying a worker can lead to lawsuits, back taxes, penalties, and unexpected expenses. The rules also vary by state, making it especially important for business owners to understand the requirements where they operate and where their team members live. In this episode, Emily and Andrea break down the key differences between employees and independent contractors and explain how the ABC test can help business owners determine the correct classification. They discuss worker independence, scheduling expectations, the type of work being performed, and whether the worker operates an established business with other clients. They also share why clear contractor agreements, accurate documentation, and professional guidance are essential for protecting your company. Tune in to hear: The key differences between hiring an employee and an independent contractorWhy worker classification is not simply a matter of business-owner preferenceHow misclassifying a worker can lead to lawsuits, penalties, and unexpected costsWhat the ABC test is and how it helps determine the correct worker classificationWhy a contractor should generally have control over their own schedule and working methodsHow the type of work being performed can determine whether someone qualifies as a contractorWhy having other clients or an independent business can support contractor classificationWhy contractor expectations and working arrangements should be clearly documentedHow fractional professionals can provide valuable expertise without the cost of a full-time employeeWhich payroll taxes, benefits, insurance, and additional expenses to consider before hiring an employee Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

  6. Jul 29

    Episode 12: How to Build Wealth While Still Enjoying Your Life Now

    Have you ever felt like building meaningful wealth requires you to sacrifice your time, family, or ability to enjoy your life right now? Many business owners believe they must choose between growing a successful company and being present for the people and experiences that matter most. This pressure can be especially strong for women and mothers who have been taught that professional success requires constant hustle, long hours, and putting their personal needs last. However, building wealth does not have to mean postponing your life or copying someone else’s definition of success. In this episode, Emily and Andrea share how business owners can build long-term wealth while still creating a fulfilling and sustainable lifestyle. They discuss paying yourself consistently, building a business emergency fund, automating investments, avoiding lifestyle creep, and intentionally spending money on meaningful experiences. They also explain why your financial strategy should reflect your personal priorities, family responsibilities, business goals, and vision for the future. Tune in to hear: Why business owners do not have to choose between building wealth and being present with their familiesWhy women do not have to build businesses using the same methods traditionally modeled by menHow family-first policies can create stronger teams and more sustainable businessesHow understanding the reason behind a financial plan makes it easier to follow consistentlyWhy paying yourself should be a priority instead of an afterthoughtHow much business owners should consider keeping in an emergency fundHow high-yield savings accounts and money market accounts can help your cash continue workingWhy estimated tax payments may be better kept in an interest-earning account until they are dueHow index funds can provide diversification without requiring you to research individual stocksWhy investing in meaningful experiences can be more valuable than purchasing additional possessionsHow company retreats and employee experiences can strengthen team culture while potentially creating business deductionsWhy proper documentation is essential when deducting business travel and team expensesWhy business owners should communicate their goals with their bookkeeper, tax strategist, and cash flow advisorWhy the most successful wealth-building strategies often involve repeating simple actions over timeWhy the ultimate goal is to build a business that supports your life instead of becoming your entire life Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

  7. Jul 22

    Episode 11: Missed Tax Deduction #2: Retirement Contributions

    Have you ever wondered whether your current retirement plan is actually helping you save enough in taxes, or if you are overlooking strategies that could make a much bigger impact on your business and long-term wealth? Many business owners rely on a traditional or Roth IRA without realizing that these accounts have relatively low contribution limits. While they can be a helpful starting point, they may not provide meaningful tax savings for business owners earning six figures or more. At the same time, choosing a retirement plan based only on the size of the tax deduction can create cash flow problems and leave you without enough money to reinvest in your business. In this episode, Andrea breaks down missed tax deduction number two, retirement contributions. She explains the differences between traditional and Roth IRAs, SEP IRAs, Solo 401(k)s, Safe Harbor 401(k)s, and cash balance plans. She also shares how to evaluate which retirement plan fits your current business structure, income, team size, and growth goals while balancing tax savings with the need to keep cash available for strategic investments. Tune in to hear: Why traditional and Roth IRAs may not provide significant tax savings for high-earning business ownersHow business owners may be leaving valuable retirement deductions on the tableWhy a SEP IRA can be an easy retirement plan to establish when you do not have employeesHow SEP IRA contribution requirements can become expensive after you begin hiringWhy a Solo 401(k) may be a strong option for businesses owned by an individual or married coupleHow Solo 401(k) contributions can significantly reduce taxable business incomeHow a Safe Harbor 401(k) can allow employees to contribute while receiving an employer matchHow profit-sharing contributions can reward employees and create additional business deductionsWhy cash balance and defined benefit plans may benefit high earners seeking larger deductionsThe difference between the deadline to establish a retirement plan and the deadline to fund itWhy waiting until tax season may cause you to miss important planning opportunitiesWhy retirement planning should begin before the end of the yearHow to determine whether additional cash should go into retirement or back into your businessWhy hiring, improving systems, or expanding operations may produce a higher return than the stock marketThe retirement planning questions your CPA should help you answer before year-endHow to balance taxes, retirement investing, cash flow, and business growthWhy the ultimate goal is not simply the largest deduction, but the strongest long-term wealth strategy Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

  8. Jul 15

    Episode 10: Cash Leak #2: Compensation Structure Issues

    Have you ever wondered whether you are paying yourself the right amount as an S Corporation owner, or if your compensation structure could be quietly costing your business money? Choosing the wrong salary can create serious cash flow and tax consequences. Paying yourself too little may raise red flags with the IRS, while paying yourself too much can lead to unnecessary payroll taxes and limit the cash available for growth, hiring, and strategic tax planning. In this episode, Emily breaks down cash leak number two, compensation structure issues. She explains how reasonable compensation is determined, why the balance between W-2 wages and owner distributions matters, and how compensation decisions can affect your tax strategy, audit risk, and ability to scale. She also shares why business owners should model the full cost of hiring before adding team members or expanding employee benefits. Tune in to hear: Why S Corporation owners are required to pay themselves through W-2 payrollWhat reasonable compensation means for a business ownerHow your role, responsibilities, hours worked, and market value influence your salaryWhy setting your salary too low can increase IRS audit riskHow taking large distributions alongside a low salary may create additional scrutinyWhy paying yourself too much through payroll can result in unnecessary taxesHow excessive payroll taxes can reduce the cash available for business growthWhy the right compensation structure should balance salary, distributions, and tax strategyHow wage limits, payroll thresholds, and QBI eligibility may affect compensation decisionsWhy business owners should run financial projections before hiring employeesThe hidden costs of hiring beyond an employee’s base salaryHow payroll taxes and employee benefits can put pressure on cash flowWhy certain benefits may need to be offered consistently across your teamThe importance of reviewing compensation before making payroll or hiring changesHow proactive planning can help protect cash flow and support sustainable growth Connect with Andrea & Emily: Book a Free Assessment: Text "Tax" to +1 (951) 618-40155 Cash Leaks and 5 Tax Deductions Draining Your Business: https://www.thorneadvisors.com/cashleaksWebsite: https://www.thorneadvisors.com/ IG: https://www.instagram.com/THORNEADVISORS

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About

Welcome to the Prosper and Get Paid Playbook, where we break down how to build real wealth without sacrificing your life to do it. We’re your hosts, Emily Bowie and Andrea Mason of Thorne Advisors, and each week we’re diving into the practical money, tax, and cash flow strategies that help you not just make money, but actually keep it and grow it. If you’re a business owner who wants to build income today and legacy for tomorrow, you’re in the right place. Learn more: https://www.thorneadvisors.com/ 

Information

  • Creator
    Emily Bowie & Andrea Mason
  • Years Active
    2026
  • Episodes
    17
  • Rating
    Clean
  • Copyright
    © 2026 Prosper & Get Paid
  • Show Website
    Prosper & Get Paid

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