73. CPA April McDaniel Shares Tax Tips And What Red Flags The IRS Looks For

Tax season is coming up and this can be a scary time for many of us. And why is it scary? Because maybe you don't really know how to set up your business correctly, and you know that if you were to be audited, the IRS would most likely find out you still owe them money...and now with penalties and interest. Or worse maybe you have been intentionally cheating on your taxes and you know if you were to be audited, there's no way you to hide the illegal deductions or unreported income. Tax season can be a scary time for beauty professionals but it doesn't have to be. In this episode, we talk to April McDaniel, a CPA with Kopsa Otte. April and her team help beauty businesses like yours to pay the least amount of taxes over time so you can save money and also get better sleep at night not worrying about the IRS. April sits down with us and shares things you should or should not write off on your taxes. She also goes into some red flags that the IRS looks for in businesses that are cutting corners on their taxes. You don't need to be afraid of the IRS if you do your taxes right. Aside from not stressing about the IRS, April goes into some other benefits of reporting all your income that you might not have thought of. We hope you'll be encouraged by this episode to get a bookkeeper as well as a CPA so that you can keep your company in compliance with the IRS and so you can build a financially sound business. As always please DM us or email us your thoughts on this episode. We'd love to hear from you. ANNOUNCEMENTS: GIVING AWAY OVER $200 IN SPONSOR SWAG We need your review on iTunes and to encourage you to do it, we are giving away over $200 in swag from our some of our sponsors from the LashCrusie and the LashConference. All you need to do is give us a review on iTunes, screenshot it and email it to [email protected]. That's it! We will be drawing a winner on July 2, 2020 WE WANT TO ANSWER YOUR QUESTIONS ON THE PODCAST If you have a question and you want us to answer it, please email it to [email protected] or DM us at @lashcastpodcast. We will try to answer one question during each episode so please send us your questions. BTW...you can ask us about pretty much anything...lashes, customer service, business, life...it's your call. WE NEED GUEST ANNOUNCERS! THIS IS YOUR CHANCE TO PROMOTE YOURSELF TO OUR LISTENERS! If you want to be a guest announcer on our show and promote yourself, please record the script listed below. Then email the recording to [email protected]. We can't promise to use it (being excited and making a good sounding recording will help), but we'll do our best to use the submissions sent into us. LASCAST OPENING SCRIPT Here is our script that you can use to record the opening to our show: "Hi I’m (name) and I work at (name of biz) in (city, state) and I’m today’s guest announcer. You can find me on Instagram at (IG handle)! Cue the music… In an industry where most of us spend the majority of our time working alone in a room, this podcast was created so you can learn, be encouraged and find a connection with other lash and beauty professionals. This is the LashCast Podcast and here’s your host, Paul Luebbers." PLEASE FOLLOW US! IG: @lashcastpodcast @thelashconference.con Facebook: www.facebook.com/groups/lashcastpodcast/ Contact Paul Luebbers: [email protected]