It doesn’t matter if you like numbers or not, as a business owner you have to understand your money. Katelyn Magnuson is the freelance CFO and knows how to help you work through your numbers to reach your goals.
Katelyn spent her 20s moving through various roles between corporate and the online space. What she learned is that our parents’ and grandparents’ way of doing money… no longer works.
We chat about how you can set yourself up for success and which money habits you need to establish now. Here’s the thing… it’s easier to make money than to save money… so how can you start making more money?
Listen as Katelyn shares her best tips for approaching your taxes and how you can find more write offs. Check out Katelyn’s site if you know you need help getting your numbers in order now!
In This Episode:
[01:27] Welcome to the show, Katelyn!
[02:13] Katelyn shares a little of her background and how she got where she is today.
[05:06] Katelyn speaks about things she does in her business and where she feels she is the strongest.
[06:08] What do you mean by, “you are not your parent’s money expert?”
[08:12] Katelyn discusses the financial strategies that she shares with her clients.
[10:13] They speak about Dave Ramsey and how her beliefs differ from his even though the end goal is the same.
[11:49] Are you focusing on a scarcity and lack mentality and staying broke instead of flourishing?
[13:13] Katelyn shares some photography do’s for taxes.
[15:32] You must have a separate bank account to keep your business and personal assets protected.
[16:14] Keeping receipts and having accounting software is very important.
[18:46] Which accounting software do you recommend?
[20:39] Anything $75 dollars or over the IRS wants a receipt.
[22:52] Katelyn speaks about traveling for an event, but you stay longer, how the IRS looks at those expenses.
[25:53] Mileage is a big write off, but there are some caveats that you need to understand.
[29:00] Katelyn shares her biggest don’ts.
[31:08] Should businesses accept Venmo for payment of services?
[33:33] Katelyn gives her number one tip for listeners today.
[34:30] What is your favorite quote?
[36:01] Hubdoc and Xero are Katelyn’s favorite business tools.
[36:56] If we went out for a drink, what would you order?
[38:13] Thank you so much for being on the show!
Links and Resources
Find Jenn:
@successbeyondthelens
@successbeyondthelenspodcast
Find Katelyn:
@thefreelancecfo