fbpx

Getting Paid: How To Pay Yourself (Part One) – EP 014

by

Not sure how to pay yourself from your business?  Or what to pay yourself?  Or how much you should put to the side to pay income taxes?

There are a lot of percentages and formulas floating all around but is it right for you and your business?  How can you be sure?  

Deciding what you should pay yourself as a business owner can be a confusing matter to resolve but I’ve got you covered. 

Note:  This episode is especially for you if you’re a solopreneur (DBA/doing business as; sole proprietor or a single-member LLC treated as a sole proprietor). There’s a separate episode for business owners of corporations.

Mentioned in today’s episode: 

  • the question you should ask yourself BEFORE you start transferring money from your business
  • the quick calculation you can use to figure how much to pay yourself 
  • The Pay Yourself Calculator (part of the Money Metrics Tracker Bundle)

Have money questions?  Want me to give you my 2 cents on an upcoming episode?  Send your question to [email protected].

If you’re hanging out on social media, you can find me on Facebook, Instagram or Twitter…as @thecommoncents.

Getting Paid: Do You Really Need A Separate Bank Account – EP 013

by

Wondering if you need a separate bank account as a DBA?  As a sole proprietor? As a solopreneur?

When you start a business, there are a lot of things to do.  It’s really easy to be unsure of yourself. What do you NEED to do right now?  What can you save for later? 

In this episode, I answer the question “Do I really need a separate bank account for my new business?”  

The answer should be no surprise…in addition to answering the query, I give you accounting, tax and just practical reasons to back up my answer, I go into quite a bit of detail behind WHY you should absolutely have a separate bank account for your solo-business.   

Mentioned in today’s episode: 

  • The various reasons supporting my answer – from the practical, to the accounting based, to the IRS-audit based reasons
  • A quick tip – the first place you should look to open a business bank account

Additional resources:

As always, this is an open discussion so if you have a question that you’d like me to answer on an upcoming episode, send an email to [email protected].

If you’re hanging out on social media, you can find me on Facebook, Instagram or Twitter…as @thecommoncents.

Quarter In Review: My Q2 CEO Debrief – EP 012

by

What is a CEO Debrief?  What does a CFO really do?  I’m so glad you asked!

In this episode, I run through a sampling of the questions I ask myself and my clients each and every quarter to get down to what’s working and what’s not working…so that I can help them hit and exceed their money targets.

Mentioned in today’s episode:

Don’t forget, you’re personally invited to chat with me.  Just schedule a complimentary consultation.

Remember, this is an open discussion.  If you have a question that you’d like me to answer on an upcoming episode, send an email to [email protected].

If you’re hanging out on social media, you can find me on Facebook, Instagram or Twitter…as @thecommoncents.

Getting Paid: How To Request Payment – EP 011

by

Requesting payment for outstanding invoices doesn’t have to be a manual affair.  Chasing invoice payments isn’t fun…especially if it leaves you stuck in your inbox when you’d rather be following your purpose and providing extraordinary services to your clients.  

Once you have all of the tech stack pieces in place, this is actually something that you can easily automate.  

In this episode, I’m going to walk you through what you can do today to start automating your payment requests so that you don’t have to babysit your invoices and your inbox.

Mentioned in today’s episode:

  • What you can do today to automate the payment request process
  • What you can do going forward, like setting boundaries, establishing rules for your business and outlining consequences for nonpayment
  • How you can automate the process with accounting software like Xero or business management software like Dubsado
  • My everything checklist to help you keep all of your money matters straight so that you don’t forget anything – Money Matters Checklist

Remember, this is an open discussion.  I want to hear from you so if you have a question that you’d like me to answer on an upcoming episode, send an email to [email protected]. (No worries, you can remain anonymous, if you like.)

Also, if you’re hanging out on social media, you can find me on Facebook, Instagram or Twitter…as @thecommoncents.

Until next time! ~Joyce

Getting Paid: Ways To Transfer Money – EP 010

by

For the record, not everyone is a scammer.  There are way more legitimate businesses out there than those that are out here scamming people.  So imagine how shocked I was when that was the overall sentiment in a recent group discussion.

I get it, sometimes we don’t know what we don’t know.  In this case, the original poster had expressed concerns because their new client didn’t want to pay by credit card…they wanted to pay by wire transfer.  And as a result, the client needed the poster’s bank information *gasp*

Not only are there legit reasons to ask for and accept wire transfers and ACHs as a form of payment but there are also legit ways to get it done WITHOUT giving up your bank account number.

In this episode, the first of the “inspired by” topics, I’m giving up the goods and telling you exactly how to do that.

I’m giving you a list of my top 3 alternatives to credit card payments (plus a bonus one) and I issue a very strong warning about what NOT to do/use for money transfers.

Mentioned in today’s episode:

  • 4 Alternatives to Wire Transfers
  • Why you shouldn’t use personal money transfer systems like the Friends & Family option in Paypal or Zelle or Venmo or CashApp when conducting business

Additional resources:

Remember, this is an open discussion.  If you have a question that you’d like me to answer on an upcoming episode, send an email to [email protected].

If you’re hanging out on social media, you can find me on Facebook, Instagram or Twitter…as @thecommoncents.

Pin It on Pinterest

Skip to content