She's Building Her Empire: Female Entrepreneurs | Women In Business | Online Marketing | Management | Productivity | Launchi

In this episode of the Well-Oiled Operations™ podcast, Stacy and Joel delve into the critical yet often overlooked area of business management: year-round financial planning and tax strategy. Navigating the complexities of tax compliance and business financials doesn't have to be intimidating.  Stacy and Joel discuss the distinctions between CPAs, bookkeepers, tax strategists, and other financial professionals, emphasizing the need for regular, proactive consultations rather than reactive, end-of-year meetings. They also shed light on common mistakes business owners make, such as neglecting to track essential expenses or misunderstanding entity structures, and how these errors can significantly impact financial health.    Also in this episode: Meeting with your CPA regularly rather than only during tax season helps in strategic financial planning. Differentiate between a CPA, bookkeeper, and tax strategist to utilize their expertise effectively. Regularly updating and understanding your profit and loss