From Chaos to Clarity: Unleash Your Business Potential

Dive into 'Chaos to Clarity: Unleash Your Business Potential,' where we demystify entrepreneurship and financial wisdom. Explore inspiring entrepreneur stories, decode financial strategies, and gain the insights needed for business success. Whether you're a seasoned pro or just starting your entrepreneurial journey, our show is your guide to mastering numbers, conquering challenges, and achieving business clarity. Tune in for actionable tips and real-world stories as we transform chaos into clarity for sustainable growth, profitability, and entrepreneurial success.

Can Joining GIP Academy Change Your Business Forever? 05/16/2025

Can Joining GIP Academy Change Your Business Forever? Can Joining GIP Academy Change Your Business Forever? Summary: In this episode of the From Chaos to Clarity podcast, host Sonya Jones interviews Torri Jones, founder of The Learning Group, a STEM consulting firm. They discuss Torri's entrepreneurial journey, the importance of financial management, and how GIP Academy has supported her business growth. Torri shares her experiences with bookkeeping, the lessons learned in tracking finances, and the benefits of being part of a supportive community. The conversation emphasizes the significance of knowing your numbers and investing in personal and business development. Takeaways: Torri Jones is the founder of The Learning Group, a STEM consulting firm. She started her business after facing personal challenges during the pandemic. Managing finances was initially a struggle for Torri, relying on Excel sheets. GIP Academy provided the mentorship and resources Torri needed to grow her business. Tracking expenses and income is crucial for financial health. Torri emphasizes the importance of separating personal and business finances. Networking and community support are vital for entrepreneurial success. GIP Academy offers valuable resources and access to financial experts. Investing in personal growth is essential for entrepreneurs. Knowing your numbers is fundamental to running a successful business. Chapters: 00:00 - Introduction to GIP Academy and Torri's Journey 03:10 - Torri's Entrepreneurial Journey and the Birth of The Learning Group 06:03 - Managing Finances Before GIP Academy 08:51 - Lessons Learned in Financial Management 11:57 - Transitioning to GIP Academy 15:05 - Benefits of GIP Academy 18:06 - Torri's Experience in GIP Academy 20:58 - Investing in Personal and Business Growth 24:13 - Networking and Community Support 27:07 - The Importance of Knowing Your Numbers 30:00 - Conclusion and Contact Information Get in touch with Torri Jones: Website: Instagram: Facebook: Join GIP Academy: 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/36591905

Unlocking Grant Funding: Insights from a Grant Writer with Victoria Ravenel 05/01/2025

Unlocking Grant Funding: Insights from a Grant Writer with Victoria Ravenel Unlocking Grant Funding: Insights from a Grant Writer with Victoria Ravenel Summary: In this episode of the From Chaos to Clarity podcast, host Sonia Jones interviews Victoria Ravenel, a nonprofit consultant and grant writer. They discuss the importance of understanding grant writing, the role of grant writers, and common myths surrounding grants. Victoria emphasizes the need for nonprofits to be grant-ready and the significance of data in securing funding. The conversation also touches on entrepreneurship, financial management, and the importance of investing in oneself and one's business. Listeners are encouraged to take control of their numbers and seek help when needed. Takeaways: Grants require a solid proposal and storytelling. Grant writers are not miracle workers; they need data. Every grant application must be tailored to the funder. Accountability is essential in managing grant funds. Investing in personal development is crucial for entrepreneurs. Understanding your numbers leads to better decision-making. Data-driven strategies enhance grant applications. Networking and community support are vital for growth. Nonprofits must have clear programs to secure funding. Utilizing resources like TechSoup can save costs. Chapters 00:00 - Introduction to Grant Writing and Funding 03:09 - Understanding the Role of Grant Writers 06:06 - Myths and Misconceptions About Grants 08:59 - Building a Strong Grant Proposal 11:57 - The Importance of Data and Accountability 15:10 - Entrepreneurship and Financial Management 18:01 - Investing in Yourself and Your Business 21:13 - Upcoming Events and Resources 23:52 - Conclusion and Key Takeaways Get in touch with Victoria Ravanelle: Website: Instagram: Event: Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/36403100

[Live Q&A] Is Wave A VIABLE Alternative To QuickBooks For Small Businesses 05/01/2025

[Live Q&A] Is Wave A VIABLE Alternative To QuickBooks For Small Businesses Summary: In this episode of the Chaos to Clarity podcast, hosts Sonja Jones and Jackie discuss the importance of accounting software, specifically WAVE, and its suitability for different types of businesses. They share best practices for using accounting software, the significance of access and security, and the implications of merchant processing fees. The conversation also highlights the importance of bookkeeping for tax deductions and when to consider hiring a professional bookkeeper. Additionally, they provide insights from a recent workshop on cash flow management and the foundational role of bookkeeping in business success. Takeaways: WAVE is a viable alternative to QuickBooks for service-based businesses. Understanding your accounting software is crucial for financial management. Nonprofits may face limitations with WAVE due to reporting capabilities. Access to accounting software should be secure and managed carefully. Merchant processing fees can significantly impact financial reporting. Tax deductions related to merchant fees are often overlooked by business owners. Hiring a professional bookkeeper can save time and improve financial accuracy. Bookkeeping is essential for making informed business decisions. Cash flow management is critical for business sustainability. Investing in the right financial tools is necessary for growth. Chapters: 00:00 - Introduction to Chaos to Clarity Podcast 01:10 - Exploring WAVE Accounting Software 03:05 - Best Practices for Using WAVE 07:17 - Accounting Software Considerations 10:10 - Access and Security in Accounting Software 14:56 - Merchant Processing and Fees 20:00 - Tax Deductions and Bookkeeping 24:11 - When to Hire a Professional Bookkeeper 26:37 - Cash Flow Confidence Workshop Overview 30:12 - Closing Remarks and Future Insights Get in touch with Jacqueline Mercer : Website: Instagram: Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/36395425

Is Wave A VIABLE Alternative To QuickBooks For Small Businesses 04/17/2025

Is Wave A VIABLE Alternative To QuickBooks For Small Businesses Is Wave A VIABLE Alternative To QuickBooks For Small Businesses Summary: In this episode, we discuss Wave, a cloud-based accounting software, with Jacqueline Mercer from Baldwin Financial Services. They explore who Wave is best suited for, its pricing structure, and the various features it offers, including invoicing, payment processing, and financial reporting. The conversation emphasizes the importance of understanding the software's capabilities and limitations, particularly for small businesses and entrepreneurs. The hosts also highlight the need for professional guidance when navigating more complex accounting needs. In this conversation, the speakers delve into the intricacies of financial reporting, the importance of accurate bookkeeping, and the challenges of sales tax compliance. They emphasize the necessity of professional guidance in navigating these complexities and advocate for collaboration among entrepreneurs to foster growth. The discussion also highlights the features of WAVE Advisors and the significance of understanding accounting software functionalities. Ultimately, the speakers stress that bookkeeping is foundational to business success and that entrepreneurs must be proactive in managing their financial health. Takeaways: Wave is a cloud-based accounting platform suitable for small businesses. It's ideal for do-it-yourselfers and service-based businesses without complex needs. Wave offers a free starter plan and a paid pro plan with additional features. The platform allows for invoicing, payment processing, and basic financial reporting. Wave is not suitable for nonprofits requiring detailed financial reporting. Users should be cautious about integrating bank accounts to avoid duplications. Reconciliation is crucial to ensure accurate financial records in Wave. Wave provides a user-friendly dashboard for managing finances. The software allows for receipt management and expense tracking. Professional guidance is recommended for more complex accounting needs. Transactions must be coded correctly for accurate reports. Cash flow reflects the health of a business. Sales tax compliance is crucial for business owners. Professional guidance can prevent costly mistakes. Collaboration among entrepreneurs fosters growth. Understanding software functionality is essential. Bookkeeping is the foundation of business operations. Networking with professionals is beneficial. Investing in bookkeeping pays off in the long run. Proactive financial management is key to success. Chapters: 00:00 - Introduction to Wave Accounting Software 03:08 - Understanding Who Wave is For 06:14 - Wave's Pricing Structure and Features 08:57 - Navigating the Wave Dashboard 12:10 - Sales and Payment Features in Wave 14:55 - Accounting and Reconciliation in Wave 18:01 - Integrating Banking and Payroll with Wave 21:04 - Generating Reports in Wave 34:57 - Understanding Financial Reports 37:50 - Sales Tax and Compliance Challenges 40:35 - The Importance of Professional Guidance 43:22 - Collaboration Over Competition 47:13 - Exploring WAVE Advisors 51:24 - Final Thoughts on Bookkeeping and Business Health Get in touch with Jacqueline Mercer : Website: Instagram: Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/36214575

Avoiding Common Pitfalls in Grant Applications with Broderick Wamble 04/04/2025

Avoiding Common Pitfalls in Grant Applications with Broderick Wamble Avoiding Common Pitfalls in Grant Applications with Broderick Womble Summary: In this episode, host Sonja Jones engages with Broderick Wamble, Community Affairs Officer at Simmons Bank, to discuss the importance of financial literacy, the intricacies of grant applications, and the support available for small businesses and home ownership initiatives. They explore the role of banks in community development, the significance of understanding one's financial position, and the common pitfalls in grant applications. The conversation also highlights the unique challenges faced by self-employed individuals in securing mortgages and the collaborative efforts between traditional banks and community development financial institutions. Takeaways: Understanding the four pillars of CRA: serving, giving, lending, and investing. Grants are aimed explicitly at programming that serves low to moderate-income individuals. Clear communication and documentation are crucial in grant applications. Self-employed individuals must show adequate net income to qualify for mortgages. Banks prefer concise business plans over lengthy proposals. Community partnerships enhance the effectiveness of financial programs. Financial literacy is essential for empowering communities. Knowing your audience's income levels is important for grant eligibility. Creative financing options exist for small businesses through partnerships with CDFIs. Homeownership initiatives can provide significant support for low to moderate-income individuals. Chapters: 00:00 - Introduction to Community Affairs and Banking 03:05 - Understanding Grants and Financial Literacy Programs 06:08 - The Importance of Clear Communication in Grant Applications 09:06 - Navigating the Grant Application Process 11:57 - Common Mistakes in Grant Applications 14:58 - Small Business Lending Insights 17:58 - Home Ownership Initiatives and Community Support 21:09 - Self-Employed Individuals and Mortgage Applications 24:08 - Conclusion and Key Takeaways Get in touch with Brody: Email: LinkedIn: Event: Convergence Memphis: Home Expo: Session 1 Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/36000250

[Live Q&A] How to be a Bankable Business with Chasity Monroe of Pink Noir 04/03/2025

[Live Q&A] How to be a Bankable Business with Chasity Monroe of Pink Noir How to be a Bankable Business Summary: In this episode, Sonia Jones interviews Chasity Monroe, the founder of Pink Noir, a beauty supply store in Memphis, Tennessee. Chasity shares her journey of starting Pink Noir to meet the needs of the community, the challenges she faced in securing funding from River City Capital, and the importance of financial preparedness and understanding one's numbers in business. The conversation highlights the emotional impact of receiving funding, the strategic approach to loan repayment, and the critical nature of financial literacy for entrepreneurs, especially women of color. Takeaways: Chasity Monroe is the founder of Pink Noir, a beauty supply store in Memphis. The inspiration for Pink Noir came from a lack of representation in beauty supply stores. Navigating the funding process with River City Capital was straightforward and transparent. Financial preparedness is crucial for securing loans and managing a business. Knowing your numbers is critical for making informed business decisions. The emotional impact of loan approval can validate an entrepreneur's vision. Strategizing for loan repayment involves understanding cash flow and budgeting. Community Development Financial Institutions (CDFIs) play a vital role in supporting underserved entrepreneurs. Having a bookkeeper can simplify financial management and reporting. Building a legacy of excellence and community impact is a key goal for entrepreneurs. Chapters: 00:00 - Introduction to Chasity Monroe and Pink Noir 03:44 - The Inspiration Behind Pink Noir 07:01 - Navigating the Funding Process with River City Capital 12:31 - The Importance of Financial Preparedness 14:34 - Understanding the Loan Approval Timeline 16:05 - The Emotional Impact of Loan Approval 20:29 - Strategizing for Loan Repayment 23:39 - The Critical Nature of Knowing Your Numbers 30:43 - Closing Thoughts and Contact Information Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: Visit www.pinknoire.com Follow on IG & Youtube /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/35999075

[LIVE Q&A] Small Business Owners Are MISSING OUT On Crucial Tax KNOWLEDGE 03/20/2025

[LIVE Q&A] Small Business Owners Are MISSING OUT On Crucial Tax KNOWLEDGE How to be a Bankable Business Summary:In this live Q&A session, Sonia Jones and Latasha discuss the common tax mistakes entrepreneurs make, emphasizing the importance of proper bookkeeping and financial literacy. They cover topics such as mixing personal and business expenses, tracking cash transactions, underreporting income, and the significance of timely filing to avoid penalties. The conversation highlights the need for entrepreneurs to understand their financials to make informed decisions and avoid costly mistakes with the IRS. Takeaways: Mixing personal and business expenses can lead to financial misinterpretation. Tracking cash transactions is crucial for accurate reporting. Underreporting income can result in significant tax liabilities. Proper record-keeping is essential to maximize deductions. Filing taxes late can incur penalties and interest. Investing in bookkeeping is an investment in your business's future. Understanding tax deductions can save money in the long run. Ignoring IRS notifications can lead to serious consequences. Establishing a clear separation between personal and business finances is vital. Regularly reviewing financials helps in making informed business decisions. Chapters: 00:00 - Introduction to GIP Financials and Live Q&A 03:15 - Common Tax Mistakes Entrepreneurs Make 16:29 - Understanding Tax Deductions and Record Keeping 25:46 - The Importance of Timely Filing and Avoiding Penalties Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/35791485

How to be a Bankable Business with Ron Brooks of River City Capital 03/20/2025

How to be a Bankable Business with Ron Brooks of River City Capital How to be a Bankable Business Summary: In this episode, the hosts discuss how to become a bankable business, focusing on the importance of financial preparedness, investment in time and resources, and understanding financial records. They emphasize the need for entrepreneurs to solidify their personal finances before starting a business and the significance of maintaining clear financial records to build trust with lenders. The conversation also covers key financial metrics that businesses should be aware of to ensure success and stability. In this conversation, the speakers discuss the importance of understanding credit profiles, the necessity of a solid business plan, and the implications of choosing the right legal structure for a business. They emphasize the need for entrepreneurs to be proactive in managing their credit and financial records, as well as the importance of articulating a clear vision for business growth. The discussion also highlights the role of community support and resources available to help businesses thrive. Takeaways: Create a playlist and save this episode for future reference. Demystifying myths about lending is crucial for entrepreneurs. Time is the most important asset for business owners. Investing in financial education can save money in the long run. Entrepreneurs should have personal finances in order before starting a business. Living paycheck to paycheck is a common issue for many. Cutting unnecessary expenses is essential for financial health. Building trust with lenders requires transparency and commitment. Understanding financial records is key to securing loans. Key financial metrics include cash flow stability and debt service ratios. Don't let credit history deter you from applying for capital. Invest in understanding your credit profile and business plan. Be prepared to defend your business plan with data and projections. Not all businesses need an LLC; choose the right structure for your needs. Understand the implications of S-Corps and when to consider them. Cash flow is crucial for business sustainability and growth. Build relationships with lenders before you need capital. Articulate your vision clearly to potential investors and lenders. Community support is vital for small business success. Be proactive in managing your business's financial health. Chapters: 00:00 - Introduction to Bankable Business Concepts 02:51 - The Importance of Time and Investment 05:45 - Financial Preparedness for Entrepreneurs 09:03 - Understanding Financial Records and Cash Flow 12:00 - Building Trustworthiness with Lenders 14:47 - Key Financial Metrics for Business Success 23:42 - Understanding Credit Profiles and Business Plans 27:06 - The Importance of Legal Structure in Business 30:49 - Navigating Business Structures: LLCs vs. S-Corps 34:50 - Building a Bankable Business: Cash Flow and Relationships 36:43 - Articulating Your Vision for Business Growth 39:34 - Community Engagement and Support for Entrepreneurs Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/35790825

Small Business Owners Are MISSING OUT On Crucial Tax KNOWLEDGE 03/06/2025

Small Business Owners Are MISSING OUT On Crucial Tax KNOWLEDGE Summary: In this episode, Sonja Jones discusses the tax literacy gap among small business owners and highlights the common mistakes they make when it comes to taxes. She emphasizes the importance of separating personal and business expenses, tracking cash transactions, reporting all income accurately, maintaining proper records to avoid missing deductions, and the consequences of filing taxes late. Additionally, she promotes GIP Academy as a resource for financial education and support for business owners. Takeaways: There is a significant tax literacy gap among small business owners. 37% of small business owners feel anxious about filing taxes. Mixing personal and business expenses can lead to tax issues. Proper tracking of cash transactions is essential for accurate reporting. Underreporting income can result in penalties and complications. Poor record keeping can cause missed deductions. Filing taxes late incurs penalties and interest that can add up. Investing in financial education can save time and money. GIP Academy provides valuable resources for business owners. Sharing financial knowledge with others can empower the entrepreneurial community. Chapters: 00:00 - Understanding the Tax Literacy Gap 03:05 - Common Tax Mistakes for Small Business Owners 06:00 - The Importance of Proper Record Keeping 09:00 - Avoiding Penalties and Filing Late 11:45 - Investing in Financial Education Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/35559260

[LIVE Q&A] Tax Deductions You’re Probably Missing (And How to Claim Them) 03/06/2025

[LIVE Q&A] Tax Deductions You’re Probably Missing (And How to Claim Them) Summary: In this live Q&A session, Sonja Jones discusses various tax deductions relevant to small businesses, emphasizing the importance of understanding what qualifies as ordinary and necessary expenses. She covers deductions related to merchant fees, clothing, gifts, entertainment, and meals, while also promoting GIP Academy as a resource for entrepreneurs seeking assistance with bookkeeping and tax preparation. Takeaways: Ordinary and necessary are key terms for tax deductions. Merchant account fees are deductible expenses. Clothing can be deducted if it serves a business purpose. Gifts can be tax-deductible if they also serve as advertising. Entertainment expenses are limited and must be carefully documented. Meals at events can be deducted, but not the tickets. It's crucial to consult IRS publications for accurate information. GIP Academy offers resources for entrepreneurs struggling with bookkeeping. Membership in GIP Academy provides expert assistance for a low monthly fee. Understanding your numbers is essential for business growth. Chapters: 00:00 - Introduction to Tax Deductions 03:00 - Understanding Ordinary and Necessary Deductions 05:51 - Clothing and Uniform Deductions 09:14 - Gifts, Donations, and Advertising 12:08 - Entertainment and Meal Deductions 14:59 - GIP Academy and Resources for Entrepreneurs Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIALS Tiktok: Link: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/35558620

Tax Deductions You’re Probably Missing (And How to Claim Them) 02/20/2025

Tax Deductions You’re Probably Missing (And How to Claim Them) Summary: In this episode, Sonja Jones discusses the importance of maximizing deductions during tax season. She emphasizes the need for listeners to be proactive in gathering their financial documents and understanding what can be deducted to ensure they do not leave any money on the table. The conversation provides practical tips and insights into navigating the complexities of tax deductions, ultimately aiming to empower listeners to take control of their finances. Takeaways: - It's crucial to gather all receipts and documents for tax season. - Understanding what can be deducted is key to maximizing returns. - Proactive financial management can prevent leaving money on the table. - Using tools like iPads for note-taking can enhance organization. - Tax season can be overwhelming, but preparation is essential. - Deductions can significantly impact your overall tax liability. - Listeners should be aware of common deductions they might overlook. - Engaging with financial experts can provide valuable insights. - Staying informed about tax laws can benefit business owners. - The goal is to unleash your business potential through effective finance management. Chapters: 00:00 - Navigating Tax Season: Maximizing Deductions 20:04 - Final Thoughts and Key Takeaways tax season, deductions, financial tips, business finance, money management Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/35362495

How to Hire the Best Bookkeeper in 2025 02/06/2025

How to Hire the Best Bookkeeper in 2025 Summary: In this episode, Sonja Jones discusses the critical differences between bookkeeping and accounting, the various pricing models for bookkeeping services, and the importance of understanding different financial roles within a business. She emphasizes the need for tax planning and the proactive measures business owners should take to manage their finances effectively. The conversation also covers the various levels of bookkeeping support available, from DIY options to full-service bookkeeping and the significance of asking the right questions when seeking financial assistance. In this conversation, Sonja Jones discusses the importance of understanding tax representation, the roles of CPAs and enrolled agents, and the nuances of nonprofit audits. She emphasizes the significance of proper tax filing for various business entities and the factors influencing pricing. The discussion also covers the selection of accounting software, the introduction of a DIY financial tracker, and the necessity of financial reports. Additionally, Sonja provides key questions for business owners to ask bookkeepers and tax preparers, highlighting the essentials of business compliance and best practices. Takeaways: Bookkeeping is primarily data entry, while accounting involves analysis. Understanding the difference between bookkeeping and accounting is crucial for business owners. Pricing for bookkeeping services can vary widely based on the level of support needed. There are three main levels of bookkeeping support: DIY, done with you, and done for you. Tax planning is essential for reducing tax liability and should be done proactively throughout the year. Every bookkeeper does not file taxes; it's important to clarify roles and responsibilities. Business owners should be aware of what constitutes a tax-deductible expense. Consultations with financial professionals should be prepared with specific questions. The relationship between bookkeepers and tax preparers is collaborative and essential for financial health. Understanding financial roles helps in making informed decisions about business finances. You need a CPA or enrolled agent for serious tax matters. Nonprofit audits differ significantly from for-profit audits. Tax filing requirements vary by business entity type. Pricing for tax preparation depends on the complexity of your business. Understanding your accounting software is crucial for financial management. The DIY tracker can help manage finances effectively without complex software. Financial reports are essential for assessing business health. Ask specific questions to ensure your bookkeeper understands your industry. Investing in your business is necessary for growth and compliance. Always check for compliance with local business regulations. Chapters: 00:00 - Introduction to Bookkeeping and Accounting 01:28 - Understanding Bookkeeping vs. Accounting 05:22 - Pricing Models for Bookkeeping Services 12:04 - Different Levels of Bookkeeping Support 22:55 - Identifying Financial Roles: Bookkeeper, Tax Preparer, CPA 29:15 - The Importance of Tax Planning 32:35 - Understanding Tax Representation and Credentials 35:58 - Navigating Nonprofit Audits and Financial Reporting 36:55 - Tax Filing Essentials for Different Business Entities 40:55 - Choosing the Right Accounting Software 47:10 - Introducing the DIY Tracker for Financial Management 51:51 - The Importance of Financial Reports 55:10 - Key Questions for Bookkeepers and Tax Preparers 01:00:14 - Business Essentials: Compliance and Best Practices bookkeeping, accounting, financial roles, tax planning, pricing models, bookkeeping services, business finance, financial documentation, tax preparation, bookkeeping support, tax representation, CPA, enrolled agent, nonprofit audits, tax filing, accounting software, financial reports, bookkeeping, business compliance, DIY tracker /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/35175030

Everything You Need to Know About 1099 Forms: Top FAQs Answered 01/23/2025

Everything You Need to Know About 1099 Forms: Top FAQs Answered Summary: In this episode, I discusses the essential aspects of the 1099 form, particularly the 1099 NEC, which is crucial for independent contractors and freelancers. I explains the differences between the 1099 and W-9 forms, the responsibilities of business owners in issuing 1099s, and the importance of accurate tax reporting. The conversation also covers common FAQs, best practices for tax compliance, and resources available for business owners to navigate tax season effectively. Questions we answered: What is the 1099 form? Who should get a 1099 from my business? Who should not get a 1099 Are the 1099 and W9 the same form? Do I give myself a 1099 if I own the business? Which 1099 form do I need? Where do I get the 1099 form? Can I file the 1099 form electronically? When is the 1099 filing deadline? How do I report 1099 income on my taxes? I forgot to include my 1099 in my tax return. What do I do? Takeaways: Knowing your numbers is crucial for business success. The 1099 NEC form reports income without tax deductions. Independent contractors must provide a W-9 to receive a 1099. Corporations typically do not receive 1099 forms. Payments through platforms like PayPal may not require a 1099. The W-9 form identifies contractors for 1099 issuance. Business owners should collect W-9s before issuing payments. 1099 income is reported on Schedule C for sole proprietors. Amending tax returns may be necessary for late 1099s. Integrity in reporting income is essential for entrepreneurs. Chapters: 00:00 - Introduction to 1099 Forms 02:02 - Understanding the 1099 NEC Form 05:54 - W-9 vs 1099: Key Differences 10:10 - Filing and Reporting 1099 Income 15:56 - Common FAQs and Best Practices 22:05 - Final Thoughts and Resources 1099, tax season, business owners, independent contractors, W-9, tax reporting, financial education, bookkeeping, IRS, tax compliance /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/34984625

Why Most Business Owners Get Year-End Reviews Wrong 12/28/2024

Why Most Business Owners Get Year-End Reviews Wrong Summary: In this episode, Sonja Jones shares insights from her Campbell presentation, focusing on key metrics for business planning and growth. She discusses the importance of celebrating wins, understanding gross sales, and analyzing client growth and revenue. The conversation also covers lessons learned, goal setting for the future, and the significance of having a clear mission statement. Sonja emphasizes the need for visibility and consistency in business strategies as she looks ahead to 2025. Key Metrics and Financial Analysis: Celebrating wins is important to keep the team motivated. GIP celebrated its first staff retreat, intern, six-figure year in gross sales, and major contract. Understanding gross sales before expenses is essential for financial clarity. You need to know what you made before you deduct expenses to accurately assess the business's financial health. To calculate your growth rate, take the current year's gross sales, divide it by the previous year's gross sales, then subtract one, and multiply by 100 to get the percentage. For GIP, the growth rate from 2023 to 2024 was 39.8%. Client growth can be misleading. Although GIP saw a dip in the number of clients, their revenue increased, showing that focusing on revenue is key. It's more important to maximize revenue than to just add more clients. Analyzing sales by product and service is crucial. GIP tracks income from monthly bookkeeping, QuickBooks setup, end-of-year tax prep, consultations, and QuickBooks online subscriptions. It's helpful to use the products and services feature in QuickBooks to see which clients are most profitable. Strategic Planning and Goal Setting: Visibility is vital, especially on social media. GIP invested in a social media coach and content creator to improve their reach. Set clear, actionable goals for your business. GIP's revenue goal was 250K, and although they didn't meet that, they surpassed their previous year's gross revenue. They were at 86% of their goal by their staff retreat. Your mission statement should guide all business decision. GIP's mission is to "empower entrepreneurs to know their numbers and position their organizations for maximum impact". It is important to be intentional about the platforms you use and tailor your message to your audience. For example, GIP uses LinkedIn for CFO clients and other platforms for GIP Academy. Consistency is key in offerings. For GIP, the word for 2025 is consistency. You must be open to adapting your strategies based on feedback and data. Additional Notes: Data analysis is important to understanding client needs and how to improve services. You should always reflect on lessons learned to improve your business. Financial literacy is key for entrepreneurs. Chapters: 00:00 - Introduction to Growth Hacks 01:09 - Key Metrics for Business Planning 02:33 - Celebrating Wins and Growth 03:57 - Understanding Gross Sales and Growth 05:49 - Client Growth and Revenue Insights 08:37 - Sales by Product and Service Analysis 10:24 - Lessons Learned and Future Goals 12:15 - Goal Setting and Strategic Planning 19:49 - Team Systems and Mission Statement 22:36 - Final Thoughts and Looking Ahead Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/34635995

Growth Hacking Your Business Finances with 5 Essential Steps 12/13/2024

Growth Hacking Your Business Finances with 5 Essential Steps In this episode of From Chaos to Clarity, Certified Money Coach and "Mr. Miyagi of Money" Sonia Jones guides entrepreneurs through the crucial process of year-end business planning. Discover how to celebrate wins, analyze sales, and leverage marketing insights to set yourself up for success in the new year. Sonia emphasizes the power of reflection: ● Begin by acknowledging your business wins, both big and small. "Anything over zero is a plus," she reminds us! ● Identify three key highlights and lessons learned from the past year, whether they stem from client interactions, market trends, or your experience using various platforms. ● Encourage open team collaboration and feedback as you reflect on the year's successes and challenges. Data-driven decision-making is crucial for business growth. Sonia provides actionable strategies to analyze key financial metrics: ● Analyze your gross sales data from previous years to understand your revenue trends. Calculate your business's growth rate and compare it to industry averages to benchmark your performance. ● Evaluate whether you met your revenue goals. If so, what factors contributed to your success? If not, what obstacles did you face? Document this information, as it can be invaluable for grant applications, loan pitches, and strategic planning. ● Dive deep into your sales by product or service, noting any dips and exploring potential causes. ● Identify your top three revenue sources and analyze what makes them successful. Effective marketing strategies are essential for client acquisition and retention. Sonia offers insights into leveraging social media and client data: ● Track your client growth year over year, noting the number of repeat customers and your overall conversion rate. Analyze what marketing efforts contributed to growth or stagnation. ● Evaluate the performance of your social media platforms. Track follower growth, identify your most successful platform, and analyze any trends or content that resonates with your audience. Sonia shares her own experience with significant growth on TikTok after a viral post about BOI. Finally, Sonia guides you through the process of setting clear and actionable goals for the upcoming year: ● Establish a realistic revenue goal informed by your historical data and calculated growth rate. ● Outline three to four key initiatives to help you achieve this goal. Sonia suggests focusing on areas like podcasts, systems (SOPs), product development, and social media optimization. ● Break down your goals into quarterly deadlines and focuses. This will ensure a structured approach to execution and allow you to track progress effectively. By implementing these strategies, you can move from chaos to clarity, gain valuable insights into your business performance, and set yourself up for continued success. Remember: Continuous learning and adaptation are key to thriving in the ever-evolving world of entrepreneurship. Don't miss the next episode of From Chaos to Clarity for a deeper dive into financial analysis and visual examples using Canva. 00:00 - Year-End Reflections and Celebrations 04:50 - Analyzing Sales and Growth Metrics 16:50 - Marketing Strategies and Client Growth 20:43 - Setting Goals for the Upcoming Year Download our free Tax Prep Checklist 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: Link: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/34429485

WARNING Don't File Your Business Taxes Without Knowing These Quarter 4 Secrets 11/28/2024

WARNING Don't File Your Business Taxes Without Knowing These Quarter 4 Secrets Is your business ready for tax season? This episode provides essential tips for entrepreneurs to organize their Quarter 4 business finances and prepare for the upcoming tax season! Learn about key tax deductions, common financial mistakes to avoid, and state compliance requirements to keep your business in good standing. Download the free Tax Prep Checklist to get started today! It's Quarter 4, and that means tax season is right around the corner! Are you feeling overwhelmed and unprepared? Don't worry! In this episode of From Chaos to Clarity: Unleash Your Business Potential podcast, host Sonia Jones provides practical tips and advice to help entrepreneurs get their financial ducks in a row and avoid tax-time headaches. Most people wait until January to start thinking about taxes, but it's much better to get a head start. Gather all of your financial records now, including bank statements, credit card statements, and receipts. Key Tax Deductions: Business expenses are tax-deductible, but personal expenses are not. Credit card fees and interest are deductible. If you use your vehicle for business, you can deduct a portion of the expenses. You can depreciate fixed assets, such as equipment and computers. Common Financial Mistakes: Don't include loan proceeds or owner’s contributions as income. Don't deduct credit card payments. Don't deduct personal expenses. Chapters 00:00 - Preparing for Quarter Four and Tax Season 04:33 - Organizing Financials for Tax Preparation 10:42 - Understanding Income and Expense Calculations 16:30 - Compliance and Business Entity Requirements 24:03 - Final Tips and Resources for Tax Readiness #entrepreneurshipinsights #entrepreneur #finance Enroll in GIP Academy! https://www.gipacademy.com 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! Instagram: https://www.instagram.com/gip_financials/ LinkedIn: https://www.linkedin.com/in/sonja-jones-fractional-cfo-%F0%9F%93%8A-9021542b/ Facebook: https://www.facebook.com/GIP.FINANCIA... Tiktok: Link: https://www.tiktok.com/@gipfinancials?_t=8rHnPhpI5bX&_r=1 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/34196800

EP31: BOI Form Explained: What Every Business Owner Needs to Know 11/14/2024

EP31: BOI Form Explained: What Every Business Owner Needs to Know Summary: In this episode, Sonja Jones discusses the Beneficial Ownership Information (BOI) form, which is a requirement under the Corporate Transparency Act. She addresses common misconceptions, filing requirements, deadlines, and answers frequently asked questions about the form. The episode aims to educate entrepreneurs on the importance of compliance and provides guidance on how to navigate the filing process effectively. Takeaways: The BOI form is essential for identifying business ownership. Filing the BOI form is free and can be done independently. The Corporate Transparency Act aims to prevent the formation of ghost entities. Entities created before January 1, 2024, have until the end of the year to file. Nonprofits may still need to file the BOI form despite being tax-exempt. Sole proprietors do not need to file the BOI form if they haven't formed an LLC. Filing deadlines vary based on when the entity was created. It's crucial to check with your Secretary of State for specific requirements. The BOI form must be updated if there are changes in ownership or structure. Resources are available on the FinCEN website for assistance. Chapters: - Introduction to the BOI Form - Understanding the Corporate Transparency Act - Who Needs to File the BOI Form? - Filing Deadlines and Requirements - Common Questions About the BOI Form - Navigating the Filing Process - Final Thoughts and Resources Enroll in GIP Academy! compliance, entrepreneurs, money tasks, monthly tasks, quarterly tasks, bookkeeping, bank accounts, accounts payable, accounts receivable, reporting, profit and loss, balance sheet, cash flow statement, forecasting, estimated income tax, payroll taxes 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/33937472

EP30: How to Master the Entrepreneurial Pitch and Impress Investors with Nancy Brownlee 10/24/2024

EP30: How to Master the Entrepreneurial Pitch and Impress Investors with Nancy Brownlee Summary: In this episode of the From Chaos to Clarity podcast, Sonia Jones and Nancy Brown discuss the journey of entrepreneurship, focusing on the importance of financial management, pitching, and networking. Nancy shares her personal experiences with funding, the challenges of balancing a full-time job with entrepreneurship, and the critical elements of a successful pitch. The conversation emphasizes the need for entrepreneurs to understand their numbers and the expectations of investors, as well as the value of continuous practice and innovation in business. Takeaways: Entrepreneurs often go broke trying to fund their dreams without proper financial education. Pitching is essential for selling your business and attracting investors. Networking is crucial; you never know who might be in the room. Realistic financial projections are key to successful pitching. Understanding the difference between equity and loans is vital for entrepreneurs. You need to know your numbers to avoid legal and financial pitfalls. Self-care and time management are important for balancing multiple responsibilities. Continuous practice in pitching leads to greater confidence and competence. Feedback from pitching can help refine business strategies and offerings. Community support and networking can significantly impact business growth. Chapters: 00:00 - Introduction to Entrepreneurship and Personal Journey 04:52 - Funding and Financial Management in Business 10:04 - Balancing Full-Time Work and Entrepreneurship 15:36 - The Importance of Pitching for Entrepreneurs 18:44 - Core Elements of a Successful Pitch 24:51 - Understanding Investor Expectations and Business Valuation 32:06 - Conclusion and Networking Opportunities Enroll in GIP Academy! 🌟 Stay connected and dive deeper into the world of From Chaos to Clarity: Unleash Your Business Potential! 🌐✨ Follow us on social media for exclusive content, behind-the-scenes glimpses, and updates on the latest episodes. 🎙️ Join our community and be part of the conversation! /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/33604592

BONUS! H&L Living with VaShaunna Renee': Level Up Your Finances: LLCs, Bookkeeping & Tax Game with Sonja Jones 10/24/2024

BONUS! Good Neighbor Podcast with Skip Mauney: Unlocking Financial Success with GIP Financials' Sonja Jones 10/11/2024

BONUS! Good Neighbor Podcast with Skip Mauney: Unlocking Financial Success with GIP Financials' Sonja Jones What makes Sonja Jones with GIP Financials a good neighbor? In this enlightening episode of the Good Neighbor Podcast, we delve into the remarkable journey of Sonja Jones, a former music teacher who transitioned into a financial expert and now runs a remote bookkeeping firm in Memphis, Tennessee. This episode is a treasure trove of knowledge for anyone looking to improve their financial literacy and streamline their business operations. Sonja's firm, Get In Position (GIP) Financials, offers a suite of services including bookkeeping, tax preparation, funding assistance, and financial coaching—all designed to help entrepreneurs understand their numbers and steer their businesses toward profitability. Sonja Jones' story is one of resilience and transformation. Initially an educator with over 20 years of experience, she spent the first 12 years as a music teacher and the subsequent 10 years as the founding director of finance and operations for a local charter school. Her role required her to learn financial operations from the ground up, an experience that laid the foundation for her current expertise. During her tenure, she observed that many vendors lacked basic financial acumen, which inspired her to start GIP Financials. Her firm focuses on empowering entrepreneurs with the financial knowledge they need to succeed. One of the key insights Sonja shares in this episode is the importance of differentiating between various financial roles such as bookkeepers, tax preparers, tax planners, and CPAs. Many people mistakenly believe that their tax preparer should handle their bookkeeping, which is not always the case. Sonja explains that each role has its own specialized functions and responsibilities. For instance, a bookkeeper manages day-to-day financial transactions, while a tax preparer focuses on preparing and filing tax returns. Understanding these distinctions can help businesses avoid common pitfalls and ensure they have the right professionals handling their finances. Another highlight of the episode is Sonja's emphasis on the need for fundamental business finance education. According to her, 70% of entrepreneurs do not have a trusted financial expert, and of those, 64% do their own bookkeeping without fully understanding what they are doing. To address this gap, GIP Financials has launched a podcast called "From Chaos to Clarity," where they discuss the basics of bookkeeping and bring on entrepreneurs who have benefited from having a bookkeeper. Additionally, starting in October, GIP Financials will offer an online community called GIP Academy, which will provide monthly live teaching, quarterly one-to-one coaching, and an extensive library of webinars and teachings. Sonja also shares her personal experiences and challenges, such as the difficult decision to leave a stable job in education to become a full-time entrepreneur. She recounts how an unexpected storm damaged her home, forcing her to dip into her savings and take on part-time work to make ends meet. These experiences have made her more resilient and better equipped to handle the ups and downs of entrepreneurship. Her story serves as an inspiration to others who may be facing similar challenges. Outside of her professional life, Sonja enjoys spending time outdoors, particularly at Shelby Farms Park in Memphis. She also loves road trips, whether it's visiting her church in Fayetteville, Arkansas, or driving to Atlanta to see her son. These activities help her clear her mind and reset, which is essential for maintaining balance in her busy life. For those interested in learning more about GIP Financials, Sonja mentions several resources. The firm's YouTube channel offers a wealth of content on financial topics, and their website provides detailed information about their services and upcoming GIP Academy. They are also active on social media platforms like Instagram, Facebook, TikTok, and LinkedIn, making it easy for entrepreneurs to stay connected and informed. In summary, this episode of the Good Neighbor Podcast is a must-listen for anyone looking to enhance their financial literacy and improve their business operations. Sonja Jones offers a wealth of knowledge and practical advice, making complex financial concepts accessible and understandable. Whether you're a seasoned entrepreneur or just starting out, this episode provides valuable insights that can help you achieve financial success. To learn more about GIP Financials go to: GIP Financials LLC 901) 451-9649 /episode/index/show/62f1ed0e-8a08-4a9e-8522-80bcf2177e62/id/33424242