100 episodes

Hosted by Jessica Mae and Marilyn Parham CPA, the Pay Play Profit Podcast for eCommerce and Online Business features practical and passionate conversations about business, finance, tax, operations, leadership, growth planning, Profit First, and more. With decades of combined in-the-trenches experience serving small business owners and their teams, learn how to be a ProfitHERO™️ and what it takes to build an online financial powerhouse from startup to scale-ready while creating more pay, play, and profit. More at www.thebottomlinecpa.com.

Pay Play Profit Jessica Mae and Marilyn Parham

    • Business
    • 5.0 • 22 Ratings

Hosted by Jessica Mae and Marilyn Parham CPA, the Pay Play Profit Podcast for eCommerce and Online Business features practical and passionate conversations about business, finance, tax, operations, leadership, growth planning, Profit First, and more. With decades of combined in-the-trenches experience serving small business owners and their teams, learn how to be a ProfitHERO™️ and what it takes to build an online financial powerhouse from startup to scale-ready while creating more pay, play, and profit. More at www.thebottomlinecpa.com.

    Establishing Financial Scorecards to Build & Grow Your Financial Confidence

    Establishing Financial Scorecards to Build & Grow Your Financial Confidence

    Maybe you're wondering what data you should be paying attention to, and what KPIs or metrics should you be doing. There are numbers that give you safety and those are the numbers you’re drawn towards. Then there’s also data that can be challenging and frustrating. And so, you just don’t like dealing with those kinds of numbers.
    There are so many pieces to financials and financial numbers, and the things that impact those numbers. We do understand that it can be very daunting and overwhelming. But you also have to understand that you have to know your numbers. You've got to fall in love with data without judging yourself in the process of it. 
    Today, we talk about numbers. Learn how to establish your financial scorecards to build and grow your financial confidence. If you find yourself in a season of not feeling stable or you can't see around blind corners, if you're worried about debt and you're concerned about your tax bill, then that's what your financial scorecards are supposed to start helping give you confidence in. The more confidence you have about what's happening, the more you can start to predict.
    At the end of the day, growth is the goal. And not having a three-dimensional perspective of profit, tax, and cash flow can hurt you when it comes to your finances. 
    In this episode, you will hear:
    The importance of having a financial scorecard Having a season of observation Weekly numbers you need to look at The importance of cash flow balance Cash metrics to look at on a monthly basis Data as your tool, not a weapon Subscribe and Review
    Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 
    We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
    Supporting Resources:
    Entrepreneurial Operating System
    Episode 101: Back to The Basics Checklist to Achieve Breakthrough When You Are Stuck
    Episode Credits
    If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

    • 59 min
    Back to The Basics Checklist to Achieve Breakthrough When You Are Stuck

    Back to The Basics Checklist to Achieve Breakthrough When You Are Stuck

    Feeling stuck in your business? Well, don’t we all get that feeling at some point? Maybe you’re wondering why you can’t get to the seven figures or nothing just seems to work, we all have been there. 
    When you’re at this point in your business where you feel stuck, you’ve got two choices. You either whine and stay stuck – or you do something to break through that ceiling.
    In this episode, we’re going to help you get that clarity you need with a simple yet special toolbox that we use here at The Bottom Line®. 
    The Entrepreneurial Operating System® or EOS® program is a powerful tool that trains you on how to get super clear and understand what you need to do to get to where you want to go and who you need to do it with.
    Today, we dive into the EOS® toolbox to share with you this checklist, which is actually a tool to help make you step back so you can identify the areas where you’re currently stuck. Identify the problem, otherwise, you can’t fix it. 
    In this episode, you will hear:
    What it means when a company “hits a ceiling” The five leadership abilities: Simplify, Delegate and Elevate, Predict, Systematize, and Structure The “five questions” checklist The importance of clarity breaks Subscribe and Review
    Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 
    We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
    Supporting Resources:
    Entrepreneurial Operating System
    Rocket Fuel by Gino Wickman
    Traction by Gino Wickman
    Episode Credits
    If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

    • 36 min
    Celebrating Our First 100 Episodes of The Pay Play Profit Podcast

    Celebrating Our First 100 Episodes of The Pay Play Profit Podcast

    Here at The Bottom Line®, we’re always celebrating our wins, big and small – and today, we’re celebrating our first 100 episodes of The Pay Play Profit Podcast!
    If you think running a podcast is easy, well, it’s not. Launching a podcast is just half of the battle. The other half is making sure we’re releasing something valuable each week, and that requires a lot of dedication. That’s why it pays to have a partner who can keep us accountable. As they say, “it takes a village” – and that includes producing a podcast too. We believe partnerships fuel transformation.
    In this episode, we recall our top five episodes of all-time as well as our personal favorites. We’re also sharing some tips if you’re thinking about doing a podcast. One of the things we learned is that you don’t have to release an episode every day. Whether you do it every week or twice each month, consistency is key!
    If you’re looking to truly connect and move the needle for someone, then maybe podcasting is worth a try. At the end of the day, it's a profit decision. And as what we always mention here over and over – every decision is a profit decision, and profit is measured in time, energy, and money.
    In this episode, you will hear:
    Why it’s helpful to pay for accountability Tips in launching a podcast Why the first seven days of downloads is the most important Our top five episodes of all time Our vision for this podcast in the future Subscribe and Review
    Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 
    We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
    Supporting Resources:
    Our Top Five Episodes of All Time:
    042: Understanding S-Corp Reasonable Compensation 050: Email Marketing for eCommerce with Chris Orzechowski 068: Understanding Tax Deductions for Mileage & Vehicles 066: Top 50 Tax Deductions in 2021 002: The Recipe for Building an Online Financial Powerhouse Our Personal Favorites:
    070: TBL Team Thanksmas 2021 Highlights 063: The Tale of Two Desks & Their Meaning 067: Quarterly & Annual Planning EOS Style Episode Credits
    If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

    • 47 min
    How to Determine Accountable Plan Reimbursements for Home Office - Part 2

    How to Determine Accountable Plan Reimbursements for Home Office - Part 2

    The accountable plan is a policy within your company or your entity, which outlines how you reimburse yourself as an owner, employee, or shareholder-employee. And if you have team members within your business, the accountable plan is a good policy for them to get reimbursed for expenses as well. 
    One of the ways you get compensated for your business is wages, distributions, and expenses. And so, you’ve got to know which for what and an accountable plan is a great way to get reimbursed for those expenses. But first, let’s differentiate home office reimbursements from home office deductions. Yep! Those two are not the same. 
    The home office deduction is for the Schedule C filer, which is the sole proprietor or the single member LLC. The home office reimbursement, on the other hand, is a potential tax strategy that a corporation or partnership can use in their accountable plan. Specifically, the home office reimbursement is an expense report to reimburse the employee of a corporation or a partnership when using their home for business purposes. 
    Now, there's a process to determine accountable plan reimbursements for your home office. In this episode, we're going to walk you through what the process would look like when it comes to handling everything.  
    In this episode, you will hear:
    What is an accountable plan? Understanding the annual operating costs of the home Owning a home vs. renting a home Can home renovation costs be included in your reimbursement?  Calibrating your real cost vs. budgeted cost Subscribe and Review
    Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 
    We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
    Supporting Resources:
    Episode 095: Using An Accountable Plan To Create Tax-Free Reimbursements
    Episode Credits
    If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

    • 21 min
    Officers Compensation vs. Shareholder Compensation vs. Wages & Salaries

    Officers Compensation vs. Shareholder Compensation vs. Wages & Salaries

    The decisions you make today create what you own tomorrow. That's why you need to code your wages and know the differences between them. You want to create straight lines and clarity across all the players by making sure you're breaking down everything in your books. 
    Today, let’s delve into the officers compensation vs. shareholder compensation vs. wages & salaries. Knowing the difference is important. You want the tax return filed more efficiently and accurately because “reasonable compensation” is a big deal.
    Being able to draw those lines and separate them out also allows you to analyze your business better. For instance, officers compensation and shareholders wages should not be reflected in your operation. And if you're a sole proprietor or a single-member LLC, you don’t get wages and salaries. Instead, you get an owner’s draw, which should not be part of your expenses. 
    This is actually very straightforward if you understand the hats you have on. States and federal agencies are ever more transparent now and all these things are going to tie down at some point. Therefore, you have to make sure that your processes around your finances and your partnerships are all on the same page. 
    In this episode, you will hear:
    The owner’s draw in a sole proprietorship or single-member LLC The difference between a shareholder and an officer What happens when you’re a shareholder who’s also working in the business? The team’s wages go to W2 wages and salaries, not contract labor Filing forms and timelines Managing expectations around relationships The benefits of getting your books correctly right now Subscribe and Review
    Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 
    We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
    Supporting Resources:
    097: Direct Costs vs. Expenses & Why You Should Care About Knowing The Difference
    Episode Credits
    If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

    • 17 min
    Direct Costs vs. Expenses & Why You Should Care About Knowing The Difference

    Direct Costs vs. Expenses & Why You Should Care About Knowing The Difference

    The best profit decisions are happening with your time, energy, and money, which means more pay, play, and profit in your business and life. And a huge part of that is understanding your financials. 
    Your financials are three-dimensional – profit, tax, and cash flow. You also need to think about direct costs versus expenses in all these three dimensions. “Direct cost” refers to the cost directly tied to your sales. You incur them directly with your sales. “Expense” refers to the operation cost. These are the things you do and spend money on that are not directly tied to the sales. Everything you spend obviously supports the sales but they're not directly tied to the sale. Now, the IRS has a very defined structure on how they want to see your costs and expenses filed on the tax return. This is part of the tax compliance. 
    Today, we're going to dive into direct costs versus expenses, and why you should care about knowing the difference. And as a small business owner, you should definitely care!
    Now, you have to get the foundation in place first, because if you don't understand the foundation of direct cost versus expenses, it's hard for you to navigate the three-dimensional conversation.
    In this episode, you will hear:
    The difference between direct cost vs. expenses Why you should care about the difference The importance of having a relationship with your tax accountant Why you shouldn’t do miscellaneous expenses or general expenses Why your profitability and cash flow are not improving Subscribe and Review
    Have you subscribed to our podcast? We’d love for you to subscribe if you haven’t yet. 
    We’d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select “Ratings and Reviews” and “Write a Review” then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast.
    Episode Credits
    If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.

    • 27 min

Customer Reviews

5.0 out of 5
22 Ratings

22 Ratings

Egur222 ,

Invaluable Podcast for business owners

Wow. I am so glad that I learned about this podcast. I am a business podcast junkie, and I’ve owned a business for about 18 years. This podcast is practical, smart, funny, engaging, and incredibly helpful. I’d highly suggest that you listen to the new episodes and go back and go into the library of podcast episodes because there are so many gems. Subscribe today, and it will change your business.

Maryb72 ,

Real Talk

This podcast is my new favorite! I can’t get enough of Jess and Marilyn’s wisdom and real life stories, all told in their awesome southern accents. These two bring inspiration and insight into these powerful episodes - they know more than just a thing or two about what it takes to run an online business, and really, what the life of a business owner looks like. Pay Play Profit is definitely a one-of-a-kind show. If you’re looking for an entertaining podcast full of valuable nuggets of business and finance, I highly recommend Pay Play Profit!

The Creative Curtis ,

Amazing team of dedicated people people!

Working with The Bottom Line for over 3 years now has tremendously helped grow our business, the way we want it to grow. This podcast is the most practical way to get info for this busy working mom. Thank you all!!!

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