Become Sensible

Fiona Nguyen
  • 5.0 (3)
  • EMPRENDIMIENTO
  • CADA SEMANA

Imagine transforming the way you think about your business finances, and unlocking your full potential. I’m Fiona Nguyen, CPA and the innovative mind behind Balannx, and that’s the goal of my podcast. This is not just another finance podcast; it's a lifeline for impact-driven entrepreneurs eager to navigate the complexities of accounting and taxes with confidence and clarity. I’m dedicated to empowering small business owners and entrepreneurs with the financial and tax knowledge needed to thrive. Born from a passion for making a difference and fueled by the questions and feedback from my community, this podcast aims to bridge the gap in financial understanding, transforming complex concepts into actionable insights. Each episode is designed with you, the impact-driven entrepreneur, at its core. We’ll delve into financial accounting and tax topics, breaking down the complexities into simple tools and strategies to enhance your decision-making and business growth.  I’ll invite guest experts to share innovative growth strategies and answer your most pressing questions. Your suggestions and feedback shape our content, making it relevant to your daily financial and tax challenges. Join us on this journey to financial wisdom and success! Reach out with comments, suggestions, or questions to becomesensible@gmail.com. Hosted on Acast. See acast.com/privacy for more information.

  1. 10 ABR

    How to Survive the Incoming Tariffs of 2025

    Tariffs might feel like something only politicians argue about on the news—but they could hit your business where it hurts. Whether you sell products or services, these policy shifts have ripple effects that show up in your supply chain, your pricing, and your customers’ wallets. So what can you actually do about it? On this episode of Become Sensible, we explore how small business owners can stay resilient in the face of changing tariff laws. Fiona breaks down what tariffs really mean for product-based and service-based businesses, and walks you through the key questions to ask when forecasting your financial future. You’ll learn how to evaluate your costs, assess your pricing, and run scenario analyses that give you options instead of panic. We also talk through cash flow planning and why creativity is your best defense in uncertain times. Connect Follow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Timestamps -  0:00 - Introduction: Why tariffs matter more than you think -  1:30 - Understanding the basics of tariff taxes and how they impact the economy -  3:00 - Are you product-based, service-based, or in trading? Why it matters -  4:15 - Why forecasting gives you confidence and clarity -  5:10 - Step 1: Analyze your cost of goods sold and how tariff changes affect them -  6:30 - Step 2: Scenario planning—how to identify alternatives to imported materials -  7:45 - Step 3: Can you raise prices—or should you absorb the cost? -  9:10 - Step 4: Pricing, packaging, and communicating value to your customers -  10:20 - Step 5: Reviewing your cash runway and why it’s critical in economic shifts -  11:15 - Step 6: Get creative—strategies to adapt your offerings and product tiers -  12:30 - How tariffs indirectly affect service-based businesses too -  13:45 - Financial forecasting for service providers: assumptions, pricing elasticity, and labor costs -  15:10 - Final thoughts: Strategy over panic, and preparing for what’s ahead Hosted on Acast. See acast.com/privacy for more information.

    16 min

  2. 3 ABR

    The Ultimate Pre-Tax Checklist 2025: What to Do Before You File For Your Small Business

    Tax deadlines don't just bring paperwork---they bring panic. If you're a business owner making multiple six figures, that final stretch before April 15 can feel like a blur of spreadsheets, missed receipts, and unanswered questions. But what if you could face it with confidence instead? On this episode of Become Sensible, I walk you through a comprehensive checklist designed specifically for business owners navigating tax season. From organizing essential financial documents to understanding depreciation schedules and verifying your entity structure, this episode gives you the exact steps to reduce errors, save money, and avoid last-minute stress. We also talk about strategic tax moves like retirement contributions, home office deductions, and how to have smarter conversations with your tax professional. You don't have to be in the dark this tax season. With the right strategy, you can get ahead, stay compliant, and feel confident in your numbers. Links:IRS Form 1065 InstructionsIRS Publication 946 on DepreciationGuide to Section 179 Deduction Connect:Follow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Hosted on Acast. See acast.com/privacy for more information.

    12 min

  3. 27 MAR

    9 Money Habits Killing Your Small Business (And How to Fix Them)

    You're probably making money---but are you actually keeping it? Too many of us hustle hard, only to find ourselves scrambling during tax season, running out of cash mid-launch, or underpricing our way into burnout. Sound familiar? On this episode of Become Sensible, I break down nine common money habits that quietly derail even the most promising businesses. From skipping tax planning to relying on revenue as our only success metric, I share the exact mindset shifts and strategic practices that can help us shift from survival mode to scalable growth. If you're ready to stop winging it with your finances and start running your business like a true CEO, this episode will give you a clear path forward. ConnectFollow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Timestamps  0:56 - Habit #1: Not setting a non-negotiable salary for ourselves  2:26 - Why upfront revenue goals create clarity in chaotic seasons  4:00 - Habit #2: Not knowing our numbers---and what to do about it  5:10 - Habit #3: Over-relying on revenue as a success metric  6:46 - Why gross profit margins tell a more accurate story  7:00 - Habit #4: Avoiding tax planning until it's too late  8:26 - Understanding scaling stages and cash flow mismatches  9:46 - Habit #5: Operating without a cash buffer and its risks  11:14 - The danger of over-optimism in our business finances  12:12 - Habit #6: Pricing too low and failing to build margin for growth  13:34 - Habit #7: Not reviewing our financials monthly with our team  15:06 - Habit #8: Trying to scale without systems or automation  16:44 - Habit #9: Not asking for help early enough  17:32 - How the right financial support can pay for itself many times over Hosted on Acast. See acast.com/privacy for more information.

    19 min

  4. 20 MAR

    Deadly Mistakes To Avoid When Setting Up Your LLC

    Just because you have an LLC doesn't mean you're fully protected. Many business owners assume their LLC shields them from legal and financial risks---but small mistakes in setup and management can leave them vulnerable. Are you making these costly errors? On this episode of Become Sensible, I break down the most common LLC mistakes entrepreneurs make and how to avoid them. We'll also cover tax-saving strategies, how to protect your business assets, and the key documents you MUST have in place. Connect Follow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Timestamps1:12 - The #1 mistake: misunderstanding member-managed vs. manager-managed LLCs  4:38 - The financial risk of not separating business and personal accounts  7:52 - Why your LLC's operating agreement needs a profit distribution plan  10:27 - LLC tax classifications and how choosing the wrong one can cost you  14:05 - The benefits of using an LLC to own real estate  16:48 - Why assigning yourself an officer title in your LLC matters  18:33 - Smart tax strategies: business reimbursements, the Augusta Rule, and more  22:14 - The biggest tax filing mistakes LLC owners make  Hosted on Acast. See acast.com/privacy for more information.

    15 min

  5. 13 MAR

    You're Not The Problem—It’s Your Broken Financial System!

    You're not bad with money, and you're not disorganized—so why does managing your business finances feel like chaos? If you're constantly scrambling at tax time or unsure where your money is really going, you're not alone. The truth is, most entrepreneurs don't fail because they lack talent, but because they lack a financial system that works. On this episode of Become Sensible, we break down why even successful six- and seven-figure business owners feel like they're flying blind when it comes to money and taxes. You'll learn how to create a simple, scalable financial system that gives you clarity, control, and confidence in your business finances. From bookkeeping strategies to tax-saving habits, we're covering everything you need to know to stop operating in reactive mode and start making data-driven financial decisions. If you've ever felt overwhelmed by bookkeeping, tax planning, or cash flow management, this episode will show you how to get back in control. Let's fix your financial foundation so your business can grow with confidence! Connect Follow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Timestamps0:00 - Introduction: Why business finances often feel chaotic  2:12 - The common financial mistakes business owners make  5:07 - The importance of having a scalable financial system  7:45 - Why "winging it" with taxes will cost you in the long run  10:18 - The role of bookkeeping and financial data in decision-making  12:52 - How to set up tax-saving habits that reduce financial stress  15:36 - Managing cash flow to avoid the paycheck-to-paycheck cycle  17:58 - Building a financial system that grows with your business  20:44 - Key takeaways and next steps for better financial management Hosted on Acast. See acast.com/privacy for more information.

    19 min

  6. 6 MAR

    The Ultimate Tax Playbook: Save Thousands on Your Business Taxes

    Good business owners work hard to grow their companies---but when tax season rolls around, many find themselves in panic mode. The truth is, most businesses are overpaying in taxes without even realizing it. What if you could legally save tens of thousands of dollars with the right tax strategy? On this episode of Become Sensible, we’re diving deep into the essential tax strategies every business owner needs to know. I break down the most common mistakes that lead to overpaying taxes and share a step-by-step playbook to ensure you're maximizing deductions, choosing the right business structure, and paying yourself in the smartest way possible. Plus, I reveal the key retirement and savings accounts that could significantly reduce your tax burden. Connect Follow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Timestamps:3:33 - Why understanding your tax return is crucial  5:00 - Step 1: Tax assessment---how to get a clear snapshot of your finances  9:39 - Step 2: Choosing the right business structure to minimize taxes  13:18 - S Corporation benefits and when to use it  14:51 - Why rental properties should not be in an S Corp  15:42 - When a C Corporation makes sense for your business  17:24 - The impact of business structure on raising funding and selling a business  19:57 - Step 3: Maximizing deductions and the importance of bookkeeping  21:51 - Home office deductions, travel write-offs, and depreciation strategies  23:30 - Step 4: Paying yourself strategically to avoid over-taxation  25:48 - The dangers of W-2 salary miscalculations in an S Corp  27:18 - C Corporation taxation and dividend strategies  29:09 - Step 5: Leveraging retirement accounts and HSAs for tax benefits  31:15 - How retirement contributions can save 20-25% on your tax bill  32:57 - Why an HSA is a "triple tax benefit" and how to use it Hosted on Acast. See acast.com/privacy for more information.

    19 min

  7. 27 FEB

    Scaling Your Business While Staying Financially Strong

    Growing a business isn't just about increasing revenue. It's about creating a financial foundation that allows for sustainable growth. If we don't track our numbers, optimize cash flow, and plan for taxes, scaling can quickly turn into a financial disaster. So how do we scale without burning out or running out of cash? On this episode, I break down the four essential pillars of a business---product, marketing & sales, operations, and finance---and explain why finance is the most overlooked yet critical factor for growth. I also share the key financial metrics we need to track weekly, from net profit margins to cash conversion cycles, and discuss why tax planning should never be an afterthought. Plus, I walk through practical steps for managing cash flow, understanding burn rate, and using financial planning to scale sustainably. Connect Follow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Timestamps 1:00 - The four key pillars: product, marketing & sales, operations, and finance  3:12 - Why finance is often ignored (and why that's a huge mistake)  4:51 - Understanding net profit margins and why 15%+ is the goal  7:12 - Customer acquisition cost (CAC) and why we need to recover it within 6-12 months  9:45 - Monthly recurring revenue (MRR) and why predictable income matters  11:27 - Cash conversion cycle: how long it takes to turn investments into revenue  14:36 - Burn rate and runway: how long our business can survive on current cash reserves  16:48 - Why weekly financial check-ins are a game changer  18:03 - Cash flow management: why small businesses struggle and how to avoid problems  21:09 - The power of unit economics: why we need to know our profit per product/service  23:30 - Strategic financial planning for sustainable scaling  25:42 - The importance of tax planning and why it should never be an afterthought Hosted on Acast. See acast.com/privacy for more information.

    25 min

  8. 20 FEB

    How to Pay Yourself as an S Corp Owner: Salary, Taxes & IRS Compliance Explained

    What's the smartest way to pay yourself as an S Corporation owner? The answer isn't as simple as pulling money from your business account. Miscalculating your salary versus distributions could lead to tax penalties---or even an IRS audit. On this episode of Become Sensible, we're breaking down how to pay yourself as an S Corp owner the right way. Fiona Nguyen explains the tax advantages of S Corporations, how to determine a reasonable salary, and why balancing your salary and distributions is crucial. Plus, we discuss the payroll setup process, quarterly tax planning, and key deadlines that could save you thousands in taxes. Connect Follow me, Fiona Nguyen, on LinkedIn. Learn more about Balannx. Timestamps 2:30 -- The tax advantages of an S Corporation and why it can save you thousands5:00 -- What is self-employment tax, and how does an S Corp help reduce it?8:30 -- Determining a reasonable salary to stay compliant with the IRS12:00 -- Payroll setup: Tools, tax withholdings, and state requirements15:30 -- The importance of tax planning in the last quarter of the year18:00 -- Deadlines: Why March 15 is a critical date for your S Corp20:00 -- Action steps to ensure you pay yourself correctly and maximize tax savings Hosted on Acast. See acast.com/privacy for more information.

    17 min
Ver todo (44)

Tráiler

Calificaciones y reseñas

5
de 5
3 calificaciones

Acerca de

Imagine transforming the way you think about your business finances, and unlocking your full potential. I’m Fiona Nguyen, CPA and the innovative mind behind Balannx, and that’s the goal of my podcast. This is not just another finance podcast; it's a lifeline for impact-driven entrepreneurs eager to navigate the complexities of accounting and taxes with confidence and clarity. I’m dedicated to empowering small business owners and entrepreneurs with the financial and tax knowledge needed to thrive. Born from a passion for making a difference and fueled by the questions and feedback from my community, this podcast aims to bridge the gap in financial understanding, transforming complex concepts into actionable insights. Each episode is designed with you, the impact-driven entrepreneur, at its core. We’ll delve into financial accounting and tax topics, breaking down the complexities into simple tools and strategies to enhance your decision-making and business growth.  I’ll invite guest experts to share innovative growth strategies and answer your most pressing questions. Your suggestions and feedback shape our content, making it relevant to your daily financial and tax challenges. Join us on this journey to financial wisdom and success! Reach out with comments, suggestions, or questions to becomesensible@gmail.com. Hosted on Acast. See acast.com/privacy for more information.

Información

  • Creador
    Fiona Nguyen
  • Años de actividad
    2024 - 2025
  • Episodios
    44
  • Clasificación
    Apto
  • Copyright
    © HAI FIONA NGUYEN
  • Mostrar sitio web
    Become Sensible