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Episode 54: The Secrets to Growing Your Business, Even with a House Full of Kids
We all know that being a work-at-home mom can be tricky. Finding the right balance is key.
Set your boundaries by time blocking: this is when you set out specific time for work, the kids and family. You’re setting out blocks of time for every day, knowing exactly how much time is in the block. Take time each Saturday or Sunday to plan your week. Know when you have to be with the kids, when you want family time and therefore when you have time to work.
This is something that I have recently been doing more of and getting better at thanks to Chelsi Jo’s podcast on systemizing your life which can be found here.
When you have your work time block make sure that you use it to its fullest. Silence notifications, put your phone aside, let your spouse know that they should only contact you if it is vital and then grab a snack before you get started. This will get better with practice.
When you have any block not related to work, give your children and family 100% of your time and attention. Your kids will become fulfilled and content, making it easier for you to work undistracted as they won’t constantly be bothering you.
Knowing that some days aren’t going to be as perfect as you hope is important. Your process will constantly evolve and improve, the most difficult task is to just get started! Once you’ve begun it will become much easier.
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Instagram: @stephanieparenza
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FLASH SALE on the Bookkeeping Basics Bootcamp!! Newly added tax modules. Learn the basics of taxes you should be considering as an entrepreneur and learn how to use QuickBooks Self-Employed to get all of the tax return info directly to your tax preparer or into the TurboTax software! Use Code: FLASH SALE for $100 off!!
Episode 53: How to Ask for Help from Your Spouse or Outsource Even When You're Just Getting Started
You don’t have to have a very busy business to start considering outsourcing. It can often help to lighten the load on yourself by outsourcing things you dread doing!
The first step is to take a step back and look at what you’re bringing in, then evaluate how much you would be able to set aside to fund outsourcing.
You should make a list of your top three dreaded tasks; these could be social media and marketing to mailing and printing. This list is the tasks that you should attempt to outsource. Remember that it is a good idea to turn to friends and family who might be able to assist in one of these areas and wouldn’t mind earning some extra income on the side. You can also make use of freelancer platforms like Fiverr and UpWork.
There are so many things that can take up your time without making you any money. Look out for and consider small things that your spouse or children could help you with that would just make your life that little bit easier without needing to spend any money.
You don’t always need to give up your income. But remember that you can’t grow your business without making time to work on developing it. Paying for tasks to be done so that you don’t have to is a good way to find this time.
If you want any advice or help on this, reach out to me on Facebook, our community has lots of experience and is always willing to help.
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Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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Episode 52.5: Bonus! Should I Do My Own Taxes or Hire Someone This Year?
In this bonus episode, I briefly talk about a very common question that I get: Should I Do My Own Taxes or Hire Someone This Year? I have discussed this in previous episodes but because we’re in tax season I decided to bring it up again.
The answer from me is: personal preference.
If your business is more complex, I would suggest hiring someone to handle your tax. The more complex the business is the more nuanced and complex the tax can become which is why I suggest a professional should handle it.
On the other hand, if your business is smaller and simpler, then there is no reason why you can’t handle it yourself using software like QuickBooks, which is great for tax and general bookkeeping for your business.
Regardless of what you decide it is important to weigh up the options available to you and decide from there. For example, if you would pay a similar amount for your software as you would for a professional, it might be a good idea to hire a professional. However, if you also were making use of all the other features of the software, then software would be the way to go.
QuickBooks
I know that it can be stressful during tax season especially when your books from 2020 are in disarray due to the pandemic. The single most valuable piece of advice I can give is to get your books in order! QuickBooks is a great piece of affordable software that I recommend for managing the bookkeeping of your business. Find out more about QuickBooks here.
Sign up for the Bookkeeping Basics Bootcamp here and take control of your business financials and learn how to manage your own books!
Let's connect!
Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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Episode 52: Taxes Freak You Out?! Easy Tips to Make Sure You Are Tax Savvy.
In this episode I discuss how to get on top of your taxes this year, so that next season is even easier! The theme throughout this episode is that you need to record all your transactions and make sure to keep business and personal transactions separate. A good way to do this can be to have a separate personal and business bank account. Then, you just need to make sure that everything gets recorded correctly in your bookkeeping software. For this I recommend QuickBooks.
QuickBooks
I know that it can be stressful during tax season especially when your books from 2020 are in disarray due to the pandemic. The single most valuable piece of advice I can give is to get your books in order! QuickBooks is a great piece of affordable software that I recommend for managing the bookkeeping of your business. Find out more about QuickBooks here.
The following points are common areas that you should focus on when making sure that you are recording all your transactions and differentiating between personal and business transactions:
First and foremost, make sure that your books are structured and organized! Get into a good habit of scanning or filing all your receipts. You never know when they might be required, so getting into a habit of saving all of them is vital!Keep track of any trips or visits you make that relate to your business. This can be done manually, in your accounting software, or with an app on your phone. Knowing what driving or traveling was done for your business is vital for accurate tax deductions.Similarly, you should take note of any courses or business development programs that you took part in as these count as business expenses and are tax-deductible.Make sure that you pay your quarterly tax estimates. This is important because you won’t get a huge bill in April, you won’t have to pay penalties and it sets you up for a clean and efficient tax return.Course: Bookkeeping Basics Bootcamp
Remember: be current and consistent!
Let's connect!
Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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Right now through this Saturday, January 23rd get $50 off the course with code BETHEBOSS2021
Sign up for the Bookkeeping Basics Bootcamp here and take control of your business financials and learn how to manage your own books!
Let's connect!
Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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Sign up for the Bookkeeping Basics Bootcamp here and take control of your business financials and learn how to manage your own books! Right now through this Saturday, January 23rd get $50 off the course with code BETHEBOSS2021
Let's connect!
Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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Below are links to the IRS website for additional information.
Form 1009-NEC https://www.irs.gov/pub/irs-pdf/f1099nec.pdf
1099-NEC Instructions: https://www.irs.gov/instructions/i1099msc
File electronically via the IRS: https://www.irs.gov/e-file-providers/filing-information-returns-electronically-fire
Sign up for the Bookkeeping Basics Bootcamp here and take control of your business financials and learn how to manage your own books!
Let's connect!
Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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In today's episode, I give you my thoughts and perspective on what to do if your spouse is not supportive our your new business venture or idea.
Sign up for the Bookkeeping Basics Bootcamp here and take control of your business financials and learn how to manage your own books!
Let's connect!
Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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In today's episode, I am briefly walk through the differences between tax deductions and business expenses. Both of these are important as they will both save you money on taxes!
Did you know I go more in depth on this topic in the Bookkeeping Basics Bootcamp? I also walk you through how to set-up and manage your books in QuickBooks and GUESS WHAT?! QuickBooks will track a lot of this for you once you have done the initial set-up. This is going to save you time, energy and money. That's right, for approximately $7 per month you can have QuickBooks track and help you manage you financials and tax deductions in real time! Sign up here for the Bookkeeping Basics Bootcamp.
Are you still unsure on whether the course is right for you? Let's connect!
Send me an email at [email protected]
Schedule a brief zoom call here to ask me your questions directly.
Join our community to connect with other like-minded entrepreneurs: Business Minded Mama Facebook Community
Send me a DM on Instagram: @stephanieparenza
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The Bookkeeping Basics Bootcamp has officially launched and today is the last day to get it on sale! This podcast is giving you an inside look at what you may learn in this course. Let's go over a couple of things...
1) You have to be ready to save money! That's right, instead of paying someone hundreds of dollars per month to do your books you can sign up for QuickBooks and this course and do it all yourself for as low as $7.50 per month!
2) You have to be willing to take 3-4 hours of your day to go through this course and get your business set-up for success.
3) You have to be willing to spend 30 minutes or less each week maintaining your business books.
4) You have to be willing to take charge of your business financials! By having a better understanding of what is coming in and out of your business, you will be able to make better business decisions. Get ready to grow!!
If you can do all of these things, then what is holding you back? Today is the last day to save $150 (Code: BLACKFRIDAY) on this course. By joining today, you will also get the bonus content that is coming next month. One clue ... Taxes and everything you need to know about closing the year!
Have questions on whether or not this course is for you or want to inquire about my services? Book a FREE consultation here.
Let's connect!
Business Minded Mama Facebook Community
Instagram: @stephanieparenza
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