1428 Financial

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1428 Financial

Virtual bookkeeping + CFO agency helping service providers make strategic moves to become more profitable and efficient

12/06/2024

What I’ve learned as a business owner? There’s a surprising amount of UNLEARNING that happens along the way.

You start out with certain ideas about how things “should” be done—maybe you think you need to be hands-on with every little detail or that you should always be the “doer” rather than the delegator. But the reality is, as your business grows, some of those old habits can hold you back.

You have to unlearn the impulse to micromanage, let go of the idea that you can (or should) do everything yourself, and shift your mindset from working in the business to working on the business.

This unlearning process can be uncomfortable at first, but it’s necessary to move from being the person who’s running everything → to the leader who’s guiding the vision, empowering your team, and making smarter strategic decisions. It’s all about shifting your mindset as your business evolves.

I unlearned a few things so (hopefully) you don’t have to!

Let me know in the comments if any of these resonate with you or what YOU are having to unlearn in the business world 💵💻

12/04/2024

Profit margins aren’t just numbers – they’re the heartbeat of your business health.

Let’s talk real talk about those percentages that can make or break your business growth. Think of your profit margin like a financial fitness tracker for your business.

🚨 Profit Margin Reality Check 🚨
Absolute Minimum: 15% (Survival mode)
Comfortable Zone: 20-25% (Breathing room)
Ideal Target: 25-30% (Growth mode activated!)

Stuck below 20%? Don’t panic. Here’s your game plan:

Dive deep into your expenses
Analyze your revenue streams
Audit the time you and your team are spending
Hunt down those profit pitfalls and crush them!

Pro tip: Your profit margin isn’t just a number. It’s a strategic tool that tells the story of your business’s health, potential, and future.

If you’re stuck in the 20% or less profit jail… we can help break you out. Swipe to read more about these 4 big factors and what you can do to get above a 20% profit ASAP.

01/09/2023

If you're self-employed and working from a designated home office space, you may be eligible to deduct these things:

→ Office Furniture
→ Laptop/Computer
→ Office Supplies
→ Telecommunications
→ Internet, Utilities, Mortgage, Rent (for the portion of your home office/total home sq. ft.)

Need help making sure these expenses (which you may have on your personal card!) make it into your business bookkeeping? That's what I'm here to help with!

01/06/2023

📆 Tax season is getting off to a strong start with all of these January tax deadlines (looking at you 1099s!).

As a business owner, here are the deadlines you're going to want to stay on top of!

📆 January 17th: Q4 Individual Estimated Tax Payment is due. If you expect to owe more than $1,000 in taxes in 2022, you should be making estimated tax payments. If you're a W-2 employee, your paycheck withholdings should be covering your obligation. However, if you're self-employed, you're responsible for sending in these payments yourself.

📆 January 31st: This is the date to get Form W-3 filed (to get those W-2s to your employees!) and 1099s out to your contractors.

Stay tuned over the next 4 months for key date reminders!

01/05/2023

📣 Calling all business owners, contractors, and anyone needing a refresher on 1099s!

Message me to grab a copy of my 1099 Guide: Who, What, When, How Much and How to File.

Let's start 2023 off strong!

11/16/2022

If your trip was 100% business, you can deduct all of the *qualifying* expenses. But what if your trip is for both business and personal reasons?

If your trip was primarily for business, but you extended it a couple of days for vacation, only the business related expenses on the trip are deductible. As far as the travel costs (airfare, etc), splitting those can get a little complicated, so this is one of those work with a tax preparer kind of situations.

If your trip is primarily a personal trip, but you happen to have dinner with a business associate while on the trip, only that dinner is a deductible expense.

What questions do you have when it comes to splitting trips between business and personal? Drop them below👇🏻

08/30/2022

Have you ever struggled with investing in yourself and your business?

I have a story for you 👇

A while back, I was on a call with a potential client and after giving her a quote, she said she’d have to talk with her husband and get back to me.

I get it. In fact, I was in full support of it (I do the same thing - he’s my sounding board for a ton of business decisions)

Investing in hiring a bookkeeper (or any service provider) is just that - an investment. It’s important you have the full support of your team, whether that’s a business partner or a life partner.

I don’t want to have a disconnected client and you don’t want to invest in something when you’re not fully committed.

Sometimes there are fears like self-doubt and a general lack of support from your community. That’s super hard to overcome, so I recommend finding someone to talk it through with and weigh the benefits.

When in doubt, talk it out🗣️

Address

Dallas, TX

Website

http://www.1428financial.com/

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