Ed Talk TV Ep. 36: The Top 4 mistakes business owners make around money and taxes with Deepa Ramachandran – Acumen Accounting and Tax Services, Inc.
Ed Talk TV Ep. 36: The Top 4 mistakes business owners make around money and taxes with @deepa.acumen
Ed Talk TV Ep. 36: The Top 4 mistakes business owners make around money and taxes with Deepa Ramachandran – Acumen Accounting and Tax Services, Inc.
📌 About the show: EdTalkTV.com
#️⃣ #EdTalkTV
👥 Check with Ed Monthly: https://checkwithed.com/monthly/
About the show: EdTalkTV.com
#EdTalkTV
Check with Ed Monthly: https://checkwithed.com/monthly/
Hey Ed….Happy Monday
Hey , happy Monday to you! How was your day?
Hello everybody!!!!
Marvel has been doing such a great job with their brand. #gomarvel
They really have and is there anything particular that really stands out for you from what they’ve been doing?
LOL… Brand Strategist
lol thank you! 🙂
Happy Presidents Day Mr. President
Evening Ed xx Vicki here xx
Hey Vicki Smith. Glad you were able to join 🙂
Unfortunately I couldn’t stick around and I don’t enjoy taxes. I think it’s different in the UK for us.
Vicki Smith no worries. 😉
Vicki Smith no worries.
I loved the movie. I lam ove the marketing. I don’t pay for movies, but I did it for the culture.
Hi Tammy Fink, Hi everyone
Yes it’s a lot of work but I’m loving it.
And that is what’s important right, that you’re loving it 🙂
https://www.yahoo.com/gma/look-back-game-changing-history-black-panther-165603862–abc-news-celebrities.html
Hey guys 👋🏽
Hey guys
ewwwww…taxes
Ugh! Taxes! 😩
Ugh! Taxes!
Paying them
We all want things but nobody wants to do taxes!
The pain is in the complication and the cost both.
I love taxes. It’s like a game to me and I love numbers.
I like you!!
😲 Anna!
Anna!
#nice Anna
Hey Anna! I can’t believe you like taxes.
The rest of us be like… taxes ✌️lol
The rest of us be like… taxes lol
Hi Aisha! You too?
I love it, but I get annoyed when I can’t bring my people on.
So true! The glitches kill me! :/
Skype generally hates me. Even though I’m a PC and not a Mac 😩
Skype generally hates me. Even though I’m a PC and not a Mac
Deepa Ramachandran
Deepa Ramachandran 😂
Going live with a guest does scare me because of glitches like this. Alone with my phone is no problem.
Yeah these glitches kill me too 🙈
Yeah these glitches kill me too
Totally Micki! Glitches are killer lol
Aisha, so true! It’s crazy!
Who loves hearing that?
Be sure to share this with a friend too! 😉
That is pretty cool!
Very Exciting.
I dunno about the big corps. I always figure they should pay more. 😬
Right? lol I think in this case it’s to be more of an incentive but yeah. lol
Well, here’s the thing – big corps paying lots of taxes helps fix big things like bridges and roads.
Right now, a lot of them have moved out of the country because our taxes were a flat 35% for them. So they moved home base to Europe and were paying 0 US taxes.
Now that they have incentives to come back, they get to pay 21% as opposed to 0.
Its a great move.
Deepa Ramachandran that’s good to know.
21% into our economy is better than zero! And, of course jobs increasing is always good. Thanks for sharing that info.
Micki Webb, Special Education Consultant true that! 😉
I dunno about the big corps. I always figure they should pay more.
Hey everyone! Visiting with my mom right now, but saving the video to watch later…
oh cool! Say hi to your mom for us
Hey Erin!
That is so true.
1. Not setting money goals
Does that make sense everyone?
2. Endless tax trap
How many of you have heard this before?
1/3 set aside for taxes
“Put aside one third of income for taxes.” Super helpful! #EdTalkTV
Set aside 30%
3. Talk to a tax professional before you think you need one
Okay 30% and we should be safe.
Yes! Going to start factoring that in now myself
Whitny, nailed it! ❤️
Whitny, nailed it!
It is intimidating because we probably already did it wrong! 😩
It is intimidating because we probably already did it wrong!
Yeah I did the tax research and did my own taxes for some years because I did them in my home country. Then I had a situation change and needed to use a professional. I was amazed at how I had lost out on claims I didn’t understand for years!
Research 🙌🏼👏🏼
Research
Such a great point – thank you for pointing this out Anna!
“Your numbers are the story your business is trying to tell you” – Deepa #EdTalkTV
4. Jargon
Brand, tech, people, operations, Taxes, Legal = key!
My sister is a CPA and I still hate taxes! She used to do mine, then I did Turbo Tax, now I need to outsource them again but she’s in HR now. 😩 Ugh!
Micki – doing my own taxes is not easy for me either!
But it’s an important awareness to have and over time – the more awareness you have, the more prepared you are.
Deepa Ramachandran so true!
My sister is a CPA and I still hate taxes! She used to do mine, then I did Turbo Tax, now I need to outsource them again but she’s in HR now. Ugh!
This is good. And you’re right I leave that stuff to my husband to resolve. Bad Whitny. 🙁
lol it’s all good! At least now you’ll be more aware right? 😉
Whitny – I find myself doing that too. It’s not a bad thing. Its just time to find your own power around money.
Start making joint decisions. Over a period of time feel strong about making your own decisions.
Whitny taxes make me wish for a husband! 😂
😂😂 I don’t know – I think you’ll be fine on your own.
Whitny taxes make me wish for a husband!
I don’t know – I think you’ll be fine on your own.
Taxes make me feel bad, Ed. 😩😄
But once we start implementing these tips from Deepa Ramachandran will feel better 😉
Yes. Yes so true.
Taxes make me feel bad, Ed.
With a dot matrix printer 😂
With a dot matrix printer
LOL @Micki . I’ll be more involved with that process. Usually I’m only alerted if there is a problem or a change. We do a budget maybe twice a year. But I need to be more involved especialy with the aspects of my business.
Me too with that 30%! Need to get on it!!
Micki Webb lol
Haha, perfect gif!!
Ed Troxell Creative right! 😄😩
Ed Troxell Creative right!
We don’t play around here when it comes to money and savings lol
🙌🏼 glad it’s not just me lol
glad it’s not just me lol
Money is just money
Such a great quote right?
Ed Troxell Creative yes it was
Thank you ❤
Deepa Ramachandran you’re welcome
That was so good!
Forget pay yourself first. Pay your taxes first LOL.
😂 yes! lol
yes! lol
Yes! Don’t learn this the hard way
Yes! Don’t learn this the hard way 😂
Deepa Ramachandran love that! So good!!!
Takeaway: Business owners need to save 1/3 of all income for anticipated taxes.
Here is the book: https://kit.com/CheckwithEd/books-entrepreneurs-should-read/you-are-a-badass-at
Hey everyone, thanks for watching!
Here are the links we promised:
http://www.acumencpa.com
http://www.deeparamachandran.com
Haha, Mr. Wonderful no less!!
Deepa Ramachandran lol I thought that would be fun 😉
Ohh, I am sure this was a good one. Will catch the replay later this week!
Thank you Kristen Hendricks! Yes, it was really good and so important for our businesses! 😉
Hey, it’s 8:15pm! I’m only 4 hours late! 😄
😂🙈 better late than never right!? 😉
Hey, it’s 8:15pm! I’m only 4 hours late!
better late than never right!?
I’ve handled the taxes for years. My hubby is totally content with NOT dealing with it. 😄😄
I’ve handled the taxes for years. My hubby is totally content with NOT dealing with it.
The 30% made me feel better. I had 50% in my head (out of fear, mostly), since my entrepreneurial journey is just now starting to gain momentum …..
Right!? What’s funny is I use to think 50% for the same reason. Then I decided ok 15-20% is fine 😆
30% is solid though.
Right!? What’s funny is I use to think 50% for the same reason. Then I decided ok 15-20% is fine
30% is solid though.