1610 Financial Solutions

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1610 Financial Solutions Pay yourself. Pay your taxes. Get your time back. Systems for faith-driven business owners. Based in Roanoke, Texas, we serve clients nationwide.

1610 Financial Solutions builds structured financial systems for business owners. We help clients gain clarity around cash flow, owner pay, tax reserves, and day-to-day financial decisions through a practical, done-for-you process. Start with a Financial Check-In.

10/17/2026

Penny's Not So Common Sense:

Ever thought personal spending from a business account is a business expense? 🤔

Let’s clear this up!

Just because you bought something with your business card doesn’t mean it’s a deductible expense. For example, if you buy a pair of underwear from Walmart using your business account, that doesn’t make it a business expense!

It’s frustrating, right? Many people think that as long as they use the business account, they can write off anything. But that’s not how it works.

You can’t just buy whatever you want and call it a deduction. It’s all about the purpose of the expense.

So, what’s your take on this? Have you ever been confused about what counts as a business expense? Let’s discuss!

Money an owner puts into a business is not customer revenue. Money an owner takes out is not automatically an operating ...
10/16/2026

Money an owner puts into a business is not customer revenue. Money an owner takes out is not automatically an operating expense.
Owner contributions, draws, and distributions belong in the equity section, not mixed into ordinary income and expenses.
If owner activity is muddying the financial statements, clean separation is the first step toward seeing how the business is actually performing.

10/15/2026

Ever wondered what retained earnings really mean? 🤔

Let’s break it down!

Retained earnings are found in the equity section of your balance sheet. It’s the net income that rolls over into retained earnings at the start of the new year. So, if you look at your profit and loss statement, you’ll see your net income from January 1 to December 31. Then, at midnight on January 1, that net income adds up to your retained earnings.

This process continues every year, building your retained earnings over time.

But here’s the kicker: as a business owner, this might feel a bit abstract. Honestly, it’s more of a tax term than something you need to worry about daily.

What do you think? Does this help clarify things? Share your thoughts below!

10/15/2026

💡 Starting your journey as a solopreneur? Here’s a tech stack to consider!

If you're aiming for around $200,000 in revenue with a mental health therapy business, here's what I recommend:

- Use QuickBooks for your accounting, but keep an eye out for upcoming changes in the next year or two.
- Opt for a more affordable version of the software; you don’t need the pricier options just yet.
- Get a business credit card from day one with Bill.com to manage your expenses.
- For payroll, Gusto is a great choice for handling your S-Corp payroll.
- If your ERP doesn’t support client billing, check out Nickel. It’s super easy to set up for receiving payments and paying vendors—and it’s free!

We even have a podcast episode dedicated to Nickel, so be sure to check that out on our Software Saturdays!

What tools are you using in your business? Let’s share our favorites!

Before paying an invoice with changed banking instructions:1. Stop the payment.2. Call a known vendor contact.3. Use a p...
10/15/2026

Before paying an invoice with changed banking instructions:
1. Stop the payment.
2. Call a known vendor contact.
3. Use a phone number already in your records.
4. Require a second review for exceptions or large payments.
5. Confirm the sender's full email address.
A convincing email is not verification. Build the rule before the urgent request arrives.

Payroll taxes withheld from an employee's check are not spare cash.If an employee earns $1,000 and $150 is withheld for ...
10/13/2026

Payroll taxes withheld from an employee's check are not spare cash.

If an employee earns $1,000 and $150 is withheld for taxes, the business is responsible for reporting and sending that $150 on the employee's behalf.

One business owner was ordered to pay $973,727.04 after failing to remit withheld payroll taxes.

Use a qualified payroll provider, keep proof of the deposits, and reconcile the payroll reports to the payments. If cash is tight, ask for help before money owed to someone else becomes part of the operating budget.

10/13/2026

Do you handle your own payroll? 🤔

If you're not a payroll expert, it's time to rethink that decision!

Here’s why:

- Payroll is complex, especially with employees in multiple states. Each state has its own rules and regulations.
- You definitely don’t want to get a call from the Department of Justice because of a payroll mistake.
- Having a professional handle payroll means you can focus on growing your business without worrying about compliance issues.
- Plus, it adds a layer of control by keeping payroll visibility separate from your internal team.

Let’s be honest, managing payroll isn’t easy. It’s best left to the pros who know the ins and outs.

What’s your experience with payroll? Have you ever made a mistake? Share your thoughts below!

10/12/2026

Are you chasing wealth or wisdom? 🤔

In Proverbs 8:21, it says that wisdom gives wealth as an inheritance to those who love her and fills their treasuries.

As business owners, we often find ourselves chasing after wealth, but what if we shifted our focus to pursuing wisdom instead?

Wisdom isn't just a checklist item; it's a deep craving to know God. When we seek wisdom, we also seek a closer relationship with Him.

So, let's ask ourselves: Are we prioritizing wisdom in our lives and businesses?

Share your thoughts below! đź’¬

10/10/2026

Have you heard about Nickel's amazing features? 🤔

Let’s talk about their built-in AI named Penny! It’s not just a clever name; it’s a game-changer for users.

Plus, they offer a free version that lets you dive in without any commitment. You can start using it today and explore all its benefits!

And here’s the kicker: if you need expedited ACH payments, it’s completely free! That’s right, zero dollars to send invoices to your clients.

With Nickel, you can also manage vendor payments without any fees.

What do you think about these features? Have you tried Nickel yet? Let’s discuss in the comments!

An invoice is only step one.I want clients to see an easy way to pay, understand their options and any fees, and know wh...
10/10/2026

An invoice is only step one.

I want clients to see an easy way to pay, understand their options and any fees, and know what happens next. I also check when money reaches the account and whether the payment reconciles cleanly in the accounting system. A payment link helps only if it makes the full process simpler for my client and my team.

In Episode 53 of Why Did We Start This? with Penny and Jonathan, I look at the path from invoice to payment and reconciliation. Watch the full episode on YouTube.

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12909 Hurricane Lane
Fort Worth, TX
76244

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Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

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