#196 Bookkeeping for Virtual Assistant Businesses with Serena Shoup

All of us are freelancers for a reason: we want freedom. We also envisioned financial freedom.  We're diving deeper into the bookkeeping, the accounting, and the expenses we can write off so that we are not paying the IRS as much at the end of the year (and keeping more for ourselves). We're getting credit for running our business because we're already paying a self-employment tax. We might as well take off these additional write-offs so we're not penalized for making more money. But we're doing this so we face our numbers, learn our numbers, and know where we're going. My guest Serena Shoup is a corporate CPA turned bookkeeping business CEO. She’s a mentor for other bookkeepers & accountants and a mom of 3. She built her business as a side hustle to motherhood when she left corporate to have her second daughter. She’s passionate about helping business owners become CEOs and take control of their money through her company Of Course Bookkeeping and she mentors other bookkeepers and accountants to do the same through her company The Ambitious Bookkeeper®️. Listen in to learn more about taking control of your freelance finances to create greater stability essential steps to safeguard your personal assets and streamline your business operations important guidelines and good money habits key deductions that could potentially save you thousands in taxes each year strategies for standing out in your industry and commanding higher rates for your specialized skills Serena is amazing. She actually does bookkeeping for my business. You're going to learn a lot, and if anything, your takeaway is to be empowered to put your business first and treat it as a real business and not just a hobby.  Sponsored by The Digital Marketer’s Workgroup Already doing the work and have clients? But need more clients and a better referral network? This is your chance to get in with a tight-knit freelancer community and be a part of the behind-the-scenes conversations, encouragement, and troubleshooting that we all need when we’re working solo. We also have advanced trainings, networking opportunities, and job leads. Apply here for our Digital Marketer’s Workgroup Links Mentioned in the Show I use an AMEX business credit card. I pay my contractors, software subscriptions, conferences, trainings, and Facebook ads and rack up points (I wanna go to Greece) AND create credit for my business/LLC. Apply for an American Express Card with my referral link: https://americanexpress.com/en-us/referral/EMILYR9VBI?XLINK=MYCP With your new Card, you could earn a welcome bonus and your friend could earn a referral bonus. Terms Apply. A must-read for all business owners: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine Hardcover by Mike Michalowicz  My CPA recommends Relay Banking for business: https://relayfi.com?referralcode=ShoupCPA It's free and I can have multiple accounts to implement Profit First. I do a hybrid of 3 accounts: Operating Expenses, Taxes, and...