87. How I Nailed My Taxes My First Year in Business

July 8, 2020

Do you guys remember the time like pre-Coronavirus when the only things we were stressed about was our taxes?

If you're like me than Wednesday came and went like the breeze because I gained the knowledge and strategies last year to set myself for success and stress free taxes come the first quarter of the year.

I am not saying this to brag, I'm saying this because this can be you too. In today's episode I cover the strategy and system I put into place last year to set myself up financially for success and I am never looking back.

My old limiting belief money stories are not going to define me, are they going to define you? Click play to start with the foundation to change the rest of your life.

Do you have a financial strategy? Are you calculating your overhead? Are you setting yourself up with a success mindset around money?

Listen to today's episode to get the download on all of that and more right now!

I mention a book in this episode called “Profit First” 

Here are some quotes from today's episode:

[00:02:09] – [00:02:38]

“There's so many things I learned in the last year that after having conversations over the last couple months, I realize that a lot of people don't really know too much about. And I am passionate about, you know, just opening that can of worms, just busting the shit wide open and saying, hey, I wasn't always great at this either. I lived month-to-month panic-to-panic. And I'm here to tell you that that doesn't have to be your story. And I know that personally because it is no longer mine.” 

[00:03:43] – [00:04:10]

“And I hope that this episode really helps you sit down, take the opportunity while we are sitting at home to go through your finances and set yourself up for a better foundation to feel more empowered when you're conducting your business, when you're giving out your prices, when you're structuring out packages into the future, because we all have a future, we're all going to be there together and we will all be making money on the other side if you're not already now.” 

[00:12:21] – [00:12:48]

“Because when you start a business, it's like entrepreneurship is like the greatest self-development journey of your life. And that's because essentially, Everything. There's just a lot of pressure on you and you have to navigate how you feel about it. You have to navigate like what's best for your business. That's not how you feel about it. And just kind of navigating all of that.”

[00:18:08] – [00:18:32]

“because I feel like so many people get sucked into tax panic Yeah. It's just like this idea that I was going to do something wrong, that I was going to drop the ball, that like something bad was gonna happen, that something negative was gonna come from money, that I was going to screw it up because I'm bad at managing money, that I'm terrible at managing my money. And that just simply wasn't true.”

[00:19:44] – [00:20:41]

“I would be totally freaking out about if I didn't have this sum of money that I set aside last year for taxes that allowed me some cushion to like pivot and come up with a new plan and figure out what I'm going to do now, which I'm really grateful for. And it's like the universe has a weird way of rewarding you or like showing you that what you're doing is good or the right thing. Or like what? Like patting you on the back, essentially. Because now my whole passion in life is to have more of these conversations, to empower people to know that like whatever your money story is or if you're still living that panic to panic lifestyle, that does not have to define you. And you can literally start today. And it's like, I know that is so scary and I know it's a system that is so scary for people. And I get that I have been exactly there.”

[00:24:00] – [00:24:19]

“But basically, if you want to learn more about this, please, like reach out to me on whether it's Instagram or send me an e-mail. You can find my e-mail on my Instagram. But it's just this idea that I if you do reach out to me, like we can kind of sit down and we can figure out what that looks like. 

[00:29:20] – [00:30:23]

“So many of us are living panic to panic to panic and we don't have any savings to get us through this time if we don't have a job or we don't have any extra cash or like we're collecting unemployment or things like that. It's just it's different. It's a different time right now. And I think we're all kind of sitting in a place, including myself. I'm again, I'm just grateful that I set up my account the way that I did last year. So I have a buffer and I have some room to kind of expand and figure it out and pivot my business to have more of these conversations, to coach people through this conversation, to work with them one on one, to show them like whether you're a profit based business, whether you're a service based business, or, I mean, I'm sorry, a product based business or a service based business. All of these thing,  It's still just breaking them down into the little places and figuring out your profit margins and things like that. And because I was such a psycho about it, because I didn't want to end up I wanted to prove myself wrong. And the only way I got to do that is if I worked the system. But it was only because I had the system to work that I knew I could do it.”

Reach out to say hi in my Instagram DMs! @sheshungryco

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