Episode 232: Bookkeeping and Tax Planning for Business Owners with Ronisa Clark

If you’re a business owner, you know that the numbers matter. Accurate tracking of cash flow, expenses, and income help you keep tabs on the financial health of your company.  

In this conversation, Melissa Joy speaks with Ronisa Clark, an expert in bookkeeping for business owners and founder of her own company, Dream Joy Consulting. You’ll hear about the importance of keeping finances in order, common issues faced by business owners, and the basics of cash flow management.  

From experience, Ronisa shares why accurate bookkeeping and using an accounting system from the start is crucial for your business. You'll also hear about the importance of separating personal and business expenses and the potential tax implications for business owners. Overall, the conversation will give you valuable insights ... whether you are an aspiring entrepreneur or are currently running your own company.  

Listen and Learn: 

• How accurate bookkeeping is crucial for business owners to understand their cash flow and financial health 
• Why using an accounting system from the start can help track expenses, income, and financial statements more effectively 
•  Ways to plan for tax season and how seeking the advice of a tax strategist or planner can help minimize tax liabilities. 

Resources:  

• Learn more about Ronisa on her Website  
• Connect with Ronisa on LinkedIn 
• Follow Dream Joy Accounting on Facebook 
• Additional Information about Ronisa as a QuickBooks Pro Advisor 

Links are being provided for information purposes only. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Pearl Planning cannot guarantee that the information herein is accurate, complete, or timely. Pearl Planning makes no warranties with regard to such information or results obtained by its use and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situa

The previous presentation by PEARL PLANNING was intended for general information purposes only. No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https://pearlplan.com/

Chapters

• 0:01 Financial Organization for Business Owners
• 11:04 Financial Monitoring and Accountability
• 17:57 Business Expense Segregation and Management
• 25:05 Challenges and Realities of Business Ownership
• 32:03 Entrepreneurial Dreams and Financial Support