A truly ethical CPA does more than ensure compliance with the law and manage your finances. They operate with complete transparency, helping you understand every aspect of your financial situation. This includes straightforward explanations in layman’s terms, detailed discussions about your financial strategies, and a solid game plan to get you set up for success. Many of us have experienced that sinking feeling when discussing finances, a reminder of our struggles with transparency and clarity.
Conscious Accounting: Your Partner in Growth
All S-corp owners are required to pay themselves a reasonable salary. This is because the IRS is wise to those who try to avoid payroll taxes by taking all their gross receipts as distributions instead. People who do this run the risk of having some of their distributions recategorized as salary. All of us have experienced this crippling force—some more than others. Worry, like fear, is a mental plague that has survived the test of time.
S corporations are a popular type of entity structure for good reason. S-corps are pass-through entities which means federal tax is paid on profits at the individual rather than the corporate level. One of the most appealing aspects of owning an S-corp is the ability to take distributions that aren’t subject to payroll tax. Payroll taxes are 15.3% and cover Social Security as well as Medicare.
I have an established business, is this course right for me?
This service is for a single stand alone project. Single, stand alone projects are available on a case by case basis for current and new clients.
Make a decision using the information YOU HAVE, rather than the information you don’t. Take a full 60 days to explore and complete the course and experience the materials. I am dedicated to helping business owners not only understand their financials but also grasp the key metrics that inform their decisions. One of my greatest joys is witnessing the moment when everything clicks for a client—the lightbulb moment when they fully comprehend their financial landscape. The takeaway is that S-corps can provide significant tax savings, but they can’t help you escape them entirely. If you’re considering becoming an S-corp, it’s important to factor the cost of running payroll into your decision.
Choosing the right accountant is kind of like selecting a business therapist.
While you have discretion in determining what constitutes a reasonable salary for yourself, you need to make sure the amount you choose is in line with IRS rules. These rules aren’t explicit but, in general, a reasonable salary is the amount an equivalent business would pay for the same (or similar) services. Some factors to consider include your business earnings as well as experience, responsibilities, industry averages, and more. You’ll then have to pay payroll taxes on whatever amount you choose for your salary.
- I was invited by Xero, a cloud-based accounting software company, to be their global keynote speaker for their annual Xerocon event.
- Take a full 60 days to explore the materials and experience the vibe and THEN…
- Don’t worry about keeping up—we’ve got you covered.
- At Conscious Accounting, we believe in meeting you where you’re at.
Join the Conscious Accounting Community!
The tax savings sound almost too good to be true and, unfortunately, there’s a catch. Subsequently, I gave keynotes in San Francisco and Brisbane, Australia, titled “Conscious Accounting”. This package is for clients that have an established team, but need some advanced assistance.
An entry-level package empowering small business owners to simplify their finances, from data-driven insights to operations. Simplify your financial management with ease as we organize your spending and income into clear, concise financial statements. Our subscription keeps your books up to date while providing invaluable insights into your business patterns. Ideal for small businesses seeking closer oversight of their current finances and a data-driven understanding of their operations.
At Conscious Accounting, we believe managing your finances should be stress-free. We’re a remote accounting firm that guides business owners like you by matching you with a professional who has decades of experience in your specific industry. We’re passionate about helping small businesses thrive because we believe they’re the heart of our communities. Sign Up for my newsletter and receive insights, teachings and spiritual tools for living a life of purpose and joy. I encouraged the 3,000 people from the accounting industry I spoke to across both events to treat energy the same way they treated money. Throughout my 15+ year career, I have worked in conscious accounting both the private and public accounting sectors across various industries.
- While it might not be the cheapest option, it is a straightforward and effective path to financial clarity.
- But many take longer so they can implement as they go.
- We’re passionate about helping small businesses thrive because we believe they’re the heart of our communities.
- Our partner, Conscious Accounting, offers more than just number-crunching.
Unlock your financial potential, allowing the energy of money to flow into your life. Working with a conscious, ethical accountant means no longer feeling in the dark about your finances. It’s not just about managing money; it’s about finding someone you can trust with your financial wellbeing. For smart, creative women excelling in their fields—whether as entrepreneurs, executives, or nurturing mothers—the topic of money and taxes can stir a mix of confusion and anxiety.
However, my specialty lies within the wellness community, including the intricate and evolving cannabis industry. My experience has shown me that financial health extends beyond numbers; it encompasses operations and the people who drive them. Interested in the mentorship program but not ready for a 3-month commitment? This mini 90min session will give you the tools you need to begin your financial journey and a template to track your own spending. If you invest in this session then join the program within one month, the cost of this session will be deducted from the program. My comprehensive approach looks beyond the numbers to understand where your money goes, and why you spend where you do.
&Women-Owned Businesses to Flourish
Define Your Relationship With Your Phone If your smartphone feels like it’s taking over your life, it’s likely because you haven’t clearly defined your relationship with it. My technology, my smartphone, is a tool for me, just like a shovel. You’ll be able to do it right the first time and be set up for success. At Conscious Accounting, we believe in meeting you where you’re at. We have developed two products that give you the experience of working with a CPA, but at your own pace.
