Welcome! In today's show, we talked about cloud accounting, and how to choose the right accountant for your business.
We also talked a little bit about who the co-hosts of this show, Marilyn Parham and Jessica Stafford are, and chatted about the importance of starting a conversation when choosing an accountant.
Here's what you'll learn:
- What to do if you get a letter from the IRS stating you owe them money (Hint: don't freak out!)
- Jessica's obsessive collection
- Why it's now possible to hire an accountant in any of the 50 states, regardless of where you live
- Fears that online business owners have about accounting, and why those fears are based on myths
- How many transactions a month your business should have before you need a formal accounting program
- The accounting program we recommend
- The ONE BIG THING that's more important than choosing the right accounting program
Conversations and Celebrations
This week we chose to highlight a scary tax story. A person who wasn't one of our clients at the time received a notice from the IRS stating he owed $150,000! Needless to say, he was overwhelmed and more than a little freaked out.
Not knowing what to do, he initially ignored the letter, but of course, that didn't solve the problem. When the IRS started breathing down his neck, he came to us. Knowing what the IRS is looking for, we pulled together the necessary documentation and were able to reduce his tax bill by approximately $100,000 — a happy ending to what initially looked like a hopeless situation!
The Power Play
In the “Power Play” section of our podcast, we give you the ONE big takeaway for this show. Today's Power Play is to start a conversation! Start three conversations! Call three different accountants, whether it be the one you're currently working with and two that you're referred to or just ones you've located online. Start three conversations with three different accountants. After you have the conversations, choose the accountant that is right for YOU!
Did You Know?
You can work with an accountant in any state or region, as long as they are willing to work in that state. In fact, we serve online businesses in ALL 50 states and across the globe!
We hope that our podcast inspires you and provides helpful information as you build your online business!
Links and resources mentioned in today's show:
Thank you for listening! We can't begin to tell you how much we appreciate it! If you enjoyed today's show, please share it with your friends and family! Our goal is to help as many online entrepreneurs as possible fix their finances! Help us help them by spreading the word!
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