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. 4h ago

    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

  2. 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

  3. 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

  4. 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

  5. Jul 8

    Episode 09: How to Pay Yourself Consistently as a Business Owner

    Have you ever wondered how much you should be paying yourself as a business owner... or whether you're doing it the right way? One of the most common questions business owners ask is how to pay themselves consistently while staying tax-efficient and compliant with IRS rules. The answer depends on how your business is structured, and making the wrong moves can lead to unnecessary taxes, cash flow issues, or even IRS scrutiny. In this episode, Emily and Andrea walk through the differences between paying yourself as a sole proprietor versus an S Corporation, explain what reasonable compensation actually means, and share practical strategies to help you build a consistent payroll system while taking advantage of additional tax-saving opportunities. They also discuss common bookkeeping mistakes business owners make when paying taxes and why documentation is essential when implementing advanced tax strategies. Tune in to hear:  How sole proprietors should pay themselves using owner distributions  Why consistent transfers are better than random withdrawals  The difference between paying yourself as a sole proprietor versus an S Corporation  When it may make sense to consider electing S Corporation tax status  What reasonable compensation means and how it is determined  Why your salary should reflect your role, hours worked, and market value  The importance of balancing payroll and owner distributions  How improper compensation can increase your IRS audit risk  Why tax payments are owner distributions not business expenses  The bookkeeping mistake that can create unexpected tax bills  Additional tax-saving strategies available to S Corporation owners, including accountable plans and hiring your children  How the Augusta Rule may provide additional tax advantages in the right circumstances  Why proper documentation is essential when implementing tax strategies  How ongoing tax strategy helps business owners maximize savings while staying compliant  Why paying yourself consistently creates healthier cash flow and stronger financial habits for 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

  6. Jul 1

    Episode 08: The Hidden Profit Killers in Your Business

    Do you ever feel like your business is making more money than ever... but somehow there's still not as much profit left over as you expected? Many business owners focus on increasing revenue while overlooking the hidden leaks quietly draining their profits. From tax planning mistakes to underpricing offers and cash flow decisions that don't align with long-term goals, these overlooked issues can have a much bigger impact than most entrepreneurs realize. In this episode, Emily and Andrea break down some of the most common profit killers they see while working with business owners. They explain why growing your business isn't just about bringing in more sales—it's about understanding your numbers, making intentional financial decisions, and building a strategy that supports both profitability and long-term wealth. Tune in to hear: Why waiting until tax season can cost your business thousandsHow proactive tax planning helps you avoid expensive surprisesThe truth about buying a vehicle just for the tax deductionWhy spending money simply to lower your tax bill can backfireHow incorrect pricing quietly eats away at your profitsWhy every product or service should account for overhead costsHow scope creep can reduce profitability without you realizing itWhy hiring before adjusting your pricing can create financial strainThe importance of knowing your numbers before making growth decisionsWhy maximizing retirement contributions isn't always the best financial moveHow balancing tax strategy, cash flow, and business growth creates stronger long-term resultsWhy working with an advisor who understands your entire business can help you build lasting wealth instead of simply lowering your tax bill 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. Jun 24

    Episode 07: The Home Office Deduction: Are You Missing This Tax Write-Off?

    The home office deduction is one of the most well-known tax deductions, but it is also one of the most misunderstood. In this episode, we’re breaking down who actually qualifies for the home office deduction, how it is calculated, and why so many business owners either miss it completely or claim it incorrectly. Tune in to hear: The commonly missed deduction many business owners overlookWhy working from home does not automatically mean you qualifyWhat “regularly and exclusively” really meansThe difference between a dedicated home office and a shared household spaceHow the home office deduction is calculated using square footageWhich home expenses may be partially deductibleWhy W2 employees typically do not qualify for this deductionWhat happens when a home office is used mostly for employee work instead of business workA real audit example that shows why the details matterWhy the home office deduction is legitimate when used correctlyHow this deduction can help business owners avoid overpaying in taxesWhy you should discuss your home office setup with your CPA 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. Jun 17

    Episode 06: The #1 Cash Leak Costing Business Owners Thousands (And How to Fix It)

    Revenue is not the same thing as profit and one of the biggest cash leaks in business often comes down to pricing. In this episode, we're diving into one of the most common mistakes entrepreneurs make: setting prices based on competitors, industry norms, or direct costs without fully understanding what it actually costs to run their business. Tune in to hear:  The most common cash leak business owners experience  Why pricing based on competitors can be dangerous  The difference between direct costs and overhead expenses  How overhead impacts every dollar of revenue you earn  A simple pricing analysis you can perform today  How to use your Profit & Loss statement to evaluate profitability  Why many businesses have far smaller margins than they realize  What to do if you discover your prices are too low  How to strategically raise prices without shocking customers  Why charging appropriately allows you to serve more people and create a bigger impact 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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5
out of 5
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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
    13
  • Rating
    Clean
  • Copyright
    © 2026 Prosper & Get Paid
  • Show Website
    Prosper & Get Paid

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