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Phoenix Rose Accounting

Name: Phoenix Rose Accounting
Address: Atlanta, GA, US
Telephone: +14702898046

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Atlanta, GA
Phoenix Rose Accounting

Phoenix Rose Accounting is your solution for small business accounting needs.

We offer full-service solutions, including bookkeeping, accounting, tax preparation, and more, all tailored for small business owners

06/10/2026

How are you SUPPOSED to pay yourself?

Depends on your business structure. Swipe to learn →

The confusion:
"Can I just transfer money whenever I need it?"
Well... it depends.

Sole Prop / Single LLC: Yes, that's called an Owner's Draw. Simple.

S-Corp: NO. You need actual payroll + reasonable salary. Then distributions.
Partnership: Guaranteed payments + profit distributions per ownership %.

The biggest mistake?
Treating all structures the same.
Each has specific rules. Follow them.

Second biggest mistake?
Not paying yourself AT ALL.
"I'll take what's left."
There's never anything left.

Pay yourself FIRST. Like an employee. Consistently.
Your business exists to support you.
Not the other way around.

Need help setting up proper owner pay? DM us.

06/08/2026

⏰ ONE WEEK UNTIL Q2 TAX DEADLINE ⏰

June 15 is NEXT MONDAY.

Let's make sure you're ready.

YOUR Q2 TAX CHECKLIST:
☐ Calculate Q2 profit April + May + June (estimate for June)
☐ Estimate tax liability Q2 profit × 30-40% (your tax rate)
☐ Check tax savings account Do you have enough set aside?
☐ Schedule payment Set up payment NOW, don't wait until June 14
☐ Mark calendar for Q3 September 15 is Q3 deadline (3 months away)

QUICK CALCULATION:
April profit: $______
May profit: $______
June estimate: $______
Q2 total: $______
× 35% (average small business tax rate) = $______ Q2 payment

Do you have that much in your tax savings account?
If YES: Perfect! Schedule the payment.
If NO: Pay what you can, set up payment plan for rest, and START saving 30% of every dollar NOW for Q3.

Payment options:
• IRS Direct Pay (free, easy)
• EFTPS (requires enrollment)
• Through your tax software

Don't ignore this.
Even if you can't pay the full amount, file and pay SOMETHING.
Penalties for not filing are 10X worse than penalties for underpaying.
ONE WEEK. Get it done. 💪

Who's handling their Q2 payment this week? ✅

06/06/2026

Who else forgot June 15 is Q2 tax deadline? 😅

9 DAYS AWAY.

What you owe: Q2 Estimated taxes (April + May + June profit)

How to calculate:
Option 1: Quick Last year's total tax ÷ 4 = Q2 payment
Option 2: Accurate Q2 actual profit × 35% tax rate ÷ 4

If you've been transferring 30% to tax savings all quarter: You're fine. The money's already there. ✅

If you haven't: Calculate TODAY. You have 9 days to come up with the money.

Don't wait until June 14!

Who's calculating their Q2 payment this weekend? 💰

06/05/2026

If you pay contractors, you NEED a 1099 tracking system.

Come January, you'll thank yourself.

✅What you need to track for EVERY contractor:
☐ Legal business name Not just what they go by. Official legal name.
☐ W-9 form on file Get this BEFORE you pay them the first time.
☐ EIN or SSN From their W-9. Need this for 1099.
☐ Complete mailing address Where to send their 1099 in January.
☐ Total payments for the year Running total. Updated each payment.
☐ Payment dates and amounts Detailed record of every payment.
☐ What services they provided Categorize: Marketing, IT, Consulting, etc.

‼️THE RULE:
If you pay a contractor $600+ in a calendar year, you must issue 1099-NEC by January 31.

Exceptions (don't need 1099):
● Corporations (usually - check if they're an LLC)
● Payments for merchandise/inventory
● Rent paid to real estate agents
● Payments via credit card or PayPal (they get 1099-K instead)

✅Set up your system NOW:

Option 1: Spreadsheet
● Contractor name
● W-9 info
● Payment log
● Running total

✅Option 2: Accounting Software
● QuickBooks tracks automatically
● FreshBooks has contractor tracking
● Tags contractors in system

✅✅Option 3: Hire us We track everything, generate 1099s in January.
● Don't wait until January to figure this out.
● Missing or incorrect 1099s = penalties from IRS.

Who's updating their contractor tracking this week? 🙋‍♀️
#1099

06/03/2026

CONTRACTOR vs. EMPLOYEE: Do you know the difference?

Getting this wrong can cost you THOUSANDS in penalties, back taxes, and legal fees.

📍Here's how the IRS actually decides:

THE 3 CATEGORIES:
1. BEHAVIORAL CONTROL Does the business control HOW the work is done?

✅Employee indicators:
● You set their hours
● You provide training
● You dictate methods and procedures
● You supervise their work

✅Contractor indicators:
● They set their own hours
● They use their own methods
● They work independently
● Minimal supervision

2. FINANCIAL CONTROL Does the worker have a business investment and risk?

✅Employee indicators:
● You provide all tools/equipment
● You reimburse expenses
● Guaranteed regular wage
● No financial risk to them

✅Contractor indicators:
● They provide own tools
● They pay own expenses
● Paid per project/job
● Can profit or lose money

3. RELATIONSHIP TYPE How do you and the worker view the relationship?

✅Employee indicators:
● Permanent/indefinite relationship
● Benefits provided (insurance, PTO, etc.)
● Work is core to your business
● Exclusive arrangement

✅Contractor indicators:
● Temporary/project-based
● No benefits
● Work is supplemental
● Works for multiple clients

THE TRUTH: It's not black and white.
The IRS looks at the TOTAL picture.

Common mistakes:

❌ "They signed a contract saying they're a contractor" (doesn't matter if facts say employee)
❌ "They want to be a contractor for tax reasons" (not a valid reason)
❌ "Everyone in my industry does it this way" (still illegal if wrong)

When in doubt, err toward employee classification.
Misclassifying employees as contractors is one of the MOST COMMON (and expensive) small business mistakes.

Need help determining classification?

We can review your situation and help you classify correctly.

DM "CLASSIFICATION" for info.

#1099

06/01/2026

WELCOME TO JUNE! ☀️

This month is all about PAYROLL PERFECTION.

But we're staying in our lane: the BOOKKEEPING side.

What we're covering:
→ Contractor vs. Employee (the actual rules)
→ 1099 tracking and management
→ Payroll record-keeping requirements
→ Paying yourself correctly
→ Common mistakes to avoid

What we're NOT covering:
❌ Deep payroll system setup (that's for payroll specialists)
❌ Retirement account details (that's for financial advisors)
❌ Complex benefits administration

We're sticking to what we do best: Bookkeeping, compliance, and keeping you out of trouble with the IRS.

Also this month:
📌June 15: Q2 Tax Deadline (2 weeks away!)
📌Juneteenth (June 19)
📌Father's Day (June 21)
📌Summer officially begins (June 20)

URGENT REMINDER: If you haven't calculated your Q2 estimated tax payment, DO IT THIS WEEK. Deadline is June 15.

Ready to perfect your payroll bookkeeping? Let's go! 💼

#1099

05/30/2026

MAY ✅ JUNE →

What we covered in May:
✓ Cash flow forecasting
✓ Pricing for profit
✓ The 3 numbers you must know
✓ Budget systems that work

Did you:
→ Download the cash flow template?
→ Calculate your profitable pricing?
→ Know your profit margin, runway, and break-even?

If not, it's not too late! All May resources still available via link in the comment section.

Coming in June:
PAYROLL PERFECTION (the bookkeeping side)

We're covering:
→ Contractor vs. employee (the rules)
→ 1099 management
→ Payroll record-keeping
→ Paying yourself correctly

Note: We'll stay in our zone (bookkeeping/compliance), not deep payroll setup. That's for the specialists.

Ready for June? Let's go! 💜

05/29/2026

LAST FRIDAY OF MAY 📅

Time for your month-end close!

Your May Close Checklist:

☐ RECONCILE EVERYTHING
Bank accounts, credit cards, payment processors

☐ REVIEW MAY NUMBERS
Was May profitable? How did revenue compare to April? Any surprises in expenses?

☐ UPDATE YOUR 3 KEY NUMBERS
Profit margin: %
Months of runway: ____
Break-even: $

☐ CHECK CASH FLOW FORECAST
How did May actual vs. forecast? Update June and July projections

☐ TAX SAVINGS
TRANSFER 30% of May profit → tax account

☐ CALCULATE Q2 ESTIMATED TAX
Due June 15! Do this today.

☐ PLAN JUNE
Revenue goal? Major expenses coming? Busy or slow month expected?

60-90 minutes today = clarity for June ✨

Download our End-of-Month Close Checklist → link in comment section!

Who's doing their May close this weekend? 🙋‍♀️

05/27/2026

📅 JUNE 15 IS Q2 ESTIMATED TAX DAY 📅

That's 3 weeks from now.

Time to calculate what you owe.

Q2 includes: April + May + June profits

How to calculate:

📌Option 1: Actual Method
Calculate Q2 net profit (Apr + May + June estimate)
Project annual profit (Q2 × 2, roughly)
Estimate tax rate (30-40%)
Divide by 4 = quarterly payment

📌Option 2: Safe Harbor
Look at 2025 total tax
Divide by 4
Pay that amount each quarter
No penalties even if you underpay

Example:
Q2 profit: $25,000 Projected annual: $100,000 Tax rate: 35% Annual tax: $35,000 Quarterly payment: $8,750

Don't wait until June 14!

Calculate this week. Mark your calendar. Set aside the money NOW.

Pro tip: If you've been transferring 30% to tax savings all quarter, the money's already there. ✅

Who's calculating their Q2 payment this week?

05/25/2026

Happy Memorial Day! 🇺🇸

Honoring those who served and sacrificed.

Our office is closed today. We'll be back tomorrow.

Enjoy your long weekend with family and friends.

See you Tuesday! 💜

Address

Atlanta, GA

Opening Hours

Monday	9am - 7pm
Tuesday	9am - 7pm
Wednesday	9am - 7pm
Thursday	9am - 7pm
Friday	9am - 7pm

Telephone

+14702898046

Website

http://phoenixroseacct.com/

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