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. 5d ago

    Episode 24: “Where Did All My Money Go?” Profit vs. Cash Flow

    Have you ever looked at your business's profit and loss statement, seen a healthy profit, and wondered why there isn't nearly as much cash sitting in your bank account? Making money on paper doesn't always mean your business has the cash it needs to operate, grow, or cover unexpected expenses. Many business owners focus on revenue and net income without understanding how debt payments, owner distributions, and other financial decisions impact their actual cash flow. Without a clear understanding of your financial statements, it's easy to think your business is doing better than it really is or make decisions that put unnecessary pressure on your cash reserves. In this episode, Andrea and Emily break down the difference between profit and cash and why understanding both is essential for building a financially healthy business. They walk through the basics of reading your profit and loss statement and balance sheet, explain where your cash goes even when your business is profitable, and share how debt, expenses, and owner distributions can impact your financial position. They also discuss why maintaining cash reserves, setting aside money for taxes, and making strategic investments based on your numbers rather than emotions can help protect your business's long-term growth. Tune in to hear: Why having a profitable business doesn't necessarily mean you have cash in the bankHow to read your profit and loss statement and understand revenue, expenses, gross margin, and net incomeWhat your balance sheet reveals about your business's cash, debt, and equityWhy owner distributions and loan payments can reduce cash without reducing net incomeHow relying on debt to grow your business can create dangerous cash flow challengesWhy making emotional investments in coaching or business growth can hurt your financial stabilityHow maintaining three months of business expenses in cash reserves can protect your businessWhy Andrea recommends setting aside approximately 25–30% of net income for taxesHow high-yield savings accounts can help your business earn interest on cash reserves and tax savingsWhy regular expense audits, proactive tax planning, and strategic financial decisions are essential for 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

  2. Oct 14

    Episode 23: Missed Tax Deduction #5: Accountable Plan

    Have you ever wondered if your S-Corp is missing out on valuable tax deductions simply because you're paying business expenses out of your personal pocket? Many S-Corp owners regularly cover expenses like mileage, cell phones, home internet, and home office costs without realizing their business could be reimbursing them. When these expenses aren't properly tracked and documented, business owners may be leaving thousands of dollars in legitimate tax deductions on the table. An accountable plan can help ensure those expenses are reimbursed correctly while reducing taxable business income without necessarily taking additional cash out of the business. In this solo episode, Andrea breaks down Missed Tax Deduction #5: The Accountable Plan. She explains what an accountable plan is, why it's one of the most commonly overlooked tax strategies for S-Corp owners, and how it allows businesses to reimburse owners for legitimate expenses paid personally. Andrea also walks through how reimbursements can be recorded, why shareholder distributions aren't the same as deductible business expenses, and how proper documentation and consistent tracking can help protect your deductions in the event of an IRS audit. Tune in to hear: Why S-Corp owners often miss tax deductions for business expenses paid personallyWhat an accountable plan is and how it can help reduce your taxable business incomeWhich expenses may qualify, including mileage, cell phones, internet, and home office costsWhy properly reimbursed business expenses generally aren't considered taxable income or wagesHow to reimburse yourself without necessarily taking additional cash out of your businessThe difference between shareholder distributions and deductible business reimbursementsWhy consistent monthly or quarterly reimbursements are better than waiting until year-endWhat documentation you need to substantiate expenses and protect yourself during an IRS auditHow $8,000 in personally paid business expenses could become legitimate business deductionsWhy having a formal, signed accountable plan and accurate bookkeeping is essential for S-Corp owners 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. Oct 7

    Episode 22: Cash Leak #5: Reactive Tax Decisions

    Have you ever reached the end of the year, realized how much profit your business made, and suddenly started scrambling for ways to lower your tax bill? Waiting until December to think about taxes can lead to rushed decisions that hurt your cash flow and may not actually support where you want your business to go. Tax planning isn’t just about finding ways to reduce what you owe. It’s about making intentional financial decisions throughout the year that align with your business goals, protect your liquidity, and leave you with the cash you need to continue growing. In this solo episode, Emily breaks down Cash Leak #5. She explains the important difference between tax preparation and tax strategy, why your tax preparer may not necessarily be a tax strategist, and how waiting until the end of the year to make tax moves can create unnecessary pressure on your business. She also shares why business owners should understand their quarterly tax estimates, proactively set aside cash for taxes, and evaluate tax strategies based on their long-term goals rather than simply spending money for the sake of reducing taxable income. Tune in to hear: Why waiting until the end of the year to make tax decisions can hurt your cash positionThe difference between tax preparation and proactive tax strategyWhy your tax preparer may not necessarily be a tax strategistHow last-minute tax decisions can lead to unnecessary business spendingWhy reducing your tax bill shouldn’t come at the expense of your long-term growthHow quarterly tax estimates can help you avoid unexpected tax bills and potential penaltiesWhy setting aside cash for taxes is important for protecting your business liquidityHow your business goals should influence the tax strategies you chooseWhy making an S-Corp election can be an important time to explore tax strategyHow strategies like accountable plans and the Augusta Rule may fit into proactive tax planning 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. Sep 30

    Episode 21: 7 CEO Money Habits That Actually Build Wealth

    Have you ever wondered why your business can be making more money, but you still don’t feel like you’re actually building wealth? Generating more revenue doesn’t automatically create financial security or a lasting legacy. Without intentional systems for paying yourself, saving, investing, and managing your money, it’s easy for more income to simply lead to more spending. Andrea and Emily explain why building wealth requires looking beyond what your business earns and creating a plan for what you actually want your money to accomplish. In this episode, Andrea and Emily break down the CEO money habits that can help business owners turn income into long-term wealth. They explain why paying yourself should be a priority, how to separate business, personal, and wealth-building money, and why creating a spend plan can help you reverse engineer your financial goals. They also discuss building cash reserves, regularly reviewing expenses, investing outside of your business, and preparing for the future through estate planning and intentional legacy building. Tune in to hear: Why making more money doesn’t automatically mean you’re building wealthHow to pay yourself intentionally instead of treating your business like a piggy bankWhy business, personal, and wealth-building money should serve different purposesHow a spend plan can help you reverse engineer your financial goalsWhy building cash reserves gives you more stability and confidence to take risksHow regular expense audits can help you stay in control of your business financesWhy consistently skipping your own paycheck can become a dangerous cycleWhy high revenue doesn’t necessarily translate into personal wealthHow investing beyond your business can help diversify and protect what you’ve builtWhy estate planning is an important part of building and protecting your legacy 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. Sep 23

    Episode 20: How to Clean Up Your Bookkeeping Before Tax Season

    Have you ever reached tax season and realized your bookkeeping isn’t nearly as organized as you thought it was? Waiting until the last minute to clean up your books can create unnecessary stress, make it harder to spot missing expenses or inaccurate transactions, and even leave you paying more in taxes than necessary. Andrea and Emily explain why business owners should be reviewing their books throughout the year and why getting organized before year-end gives you more time to make strategic financial and tax decisions. In this episode, Andrea and Emily break down what it actually means to get your bookkeeping tax-ready. They explain why reconciling your bank and credit card accounts matters, how to make sure your income and expenses are accurately captured, and why business owners still need to stay involved in their finances even when they outsource bookkeeping. They also share what documents your tax professional will typically need, simple strategies for keeping receipts, and why your financial systems don’t need to be complicated to be effective. Tune in to hear: Why you shouldn’t wait until tax season to clean up your bookkeepingHow monthly bookkeeping can help you make better business and tax decisionsWhy reconciling your bank and credit card accounts is so importantHow duplicate or missing transactions can distort your financial pictureWhy you should review your profit and loss statement for missing expensesWhy business owners still need to understand their numbers when outsourcing bookkeepingWhat financial documents your tax professional will need at tax timeWhy fixed asset details can easily get overlookedSimple ways to organize and keep business receipts throughout the yearWhy consistent financial systems matter more than complicated ones 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. Sep 16

    Episode 19: Missed Tax Deduction #4 - Depreciation

    Have you ever considered buying a new vehicle, computer, or piece of equipment for your business just to get the tax write-off? Depreciation can be one of the most powerful tax planning tools available to business owners, but taking the biggest deduction possible isn’t always the smartest strategy. From bonus depreciation and Section 179 to the $2,500 de minimis safe harbor, understanding when and how to deduct business purchases can help you make decisions that support both your tax strategy and your long-term financial goals. In this episode, Andrea breaks down the basics of depreciation and explains how business owners can strategically approach equipment, technology, furniture, and vehicle purchases. She walks through why the timing of a deduction matters, what business owners need to know about the 6,000-pound vehicle rule, and why business-use percentage can impact how much of a vehicle is actually deductible. Andrea also explains how financing a purchase can preserve cash while still potentially providing a valuable depreciation deduction. Tune in to hear: What depreciation is and how it works for business assetsHow bonus depreciation and Section 179 can accelerate your deductionsWhen the $2,500 de minimis safe harbor may apply to smaller purchasesWhy taking the largest deduction immediately isn’t always the best tax strategyWhat the 6,000-pound vehicle rule actually meansWhy you need to check a vehicle’s GVWR before making a purchaseHow your business-use percentage affects your vehicle deductionWhy commuting generally doesn’t count as business useHow financing equipment or vehicles can preserve cash while still providing a tax deductionWhy you should talk to your CPA before making a major business purchase 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. Sep 9

    Episode 18: Cash Leak #4: Mixing Personal & Business Money

    Have you ever looked at your business finances and wondered why it’s so difficult to tell how profitable your business actually is? Mixing personal and business money may seem harmless, especially when you’re simply using whichever account or credit card is most convenient. But over time, those blurred lines can create messy books, make your financial statements unreliable, complicate forecasting, and even create problems during an IRS audit or business valuation. Keeping your finances separate isn’t just about cleaner bookkeeping—it’s about having an accurate picture of how your business is actually performing. In this episode, Emily breaks down why separating personal and business expenses is an important step toward stronger financial management. She explains why every business owner should have dedicated business bank and credit card accounts, how personal expenses can distort your profitability, and why paying business expenses personally can make it difficult to understand the true cost of running your business. She also discusses establishing a proper reimbursement system, cleaning up mixed expenses, and why accurate financial statements become increasingly important when forecasting or preparing to sell your business. Tune in to hear: Why mixing personal and business money can create problems for your booksHow dedicated business bank and credit card accounts can simplify your financesWhy personal expenses can distort your business’s true profitabilityWhat happens when you pay business expenses from personal accountsWhy a consistent reimbursement system is importantHow an accountable plan can help keep reimbursements organizedWhy mixed expenses can make your financial statements unreliableHow cleaner books can improve budgeting and forecastingWhy separating expenses matters when determining business valueThe simple expense audit you can do to start cleaning up your finances today 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. Sep 2

    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

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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
    24
  • Rating
    Clean
  • Copyright
    © 2026 Prosper & Get Paid
  • Show Website
    Prosper & Get Paid

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