Welcome to
The Graceful Penny Blog!!
We are very excited that you are here!
Downside to Not Have Your Books Together
Many entrepreneurs piece together their finances only to submit their taxes. This post helps show why it’s important to maintain it regularly and how it benefits you.
What does an IRS audit look like?!
Getting audited from the IRS tends to be the top fear of people within the US. That’s because of confusing laws and complicated regulations that are not easy to understand. My client has graciously allowed me to document the start of her experience with an IRS audit in hopes to demystify myths and fears while empowering business owners to understand the right way to go about handling their books. Let’s talk about it.
Steps to get off the Money Shame Train
Owning a business amplifies everything - have you noticed that?! Shame tends to be a really big button issue for most and it tends to be around money. Here are two of the core issues that I’ve witnessed and an exercise to bring awareness to where you’re at.
How Systems Will Support You
Let’s be real - systems aren’t always fun but boy do they really enhance, uplift and empower you and your business.. here’s how they do just that.
Top 4 Benefits of Reconciling
Reconciling is an essential tool to ensure the accuracy of your books and it gives it an additional layer of security. When you reconcile your accounts you are essentially just double checking your work. And when it comes to your finances.. that’s really important! Let’s talk about the top four benefits of reconciling:
Empowering Yourself Through Questions
There is nothing more empowering than standing in the uncomfortable and continually asking your questions until you get an answer you understand. Your finances can have huge implications that can last a long time so it’s really important you ask ALL the questions you have.
Inequalities within the American Tax System
The wealth gap in America is more than painfully clear and it gets bigger every day. So let’s talk about it! Between capital gains, loopholes, deductions catered to the rich, tax evasion and the continual defunding and defamation of the IRS - this was inevitable. It’s about time that the rich pay their fair share.
6 Tips to Prepare for the Tax Deadline
The tax deadline is quickly approaching and so here are 6 tips and tricks to prepare you for the deadline!
How to Price Your Products or Services
There are so many factors that go into pricing, it can be difficult to know where to start. We start to peel back the onion layers to discuss how you can ethically start pricing your products or services.
Importance of Separating Business and Personal Funds
While I genuinely understand the inconvenience and hassle of keeping your personal finances separate from your business.. it really is important. Here’s why…
When the Banking System Fails
Last week, Silicon Valley Bank collapsed. Read about it, what it could potential mean for you and ways to mitigate future risks and keep your money safe
Ode to Bookkeeping.. err AI?
AI has now become available to every individual. Average business owners can now benefit from this tool that large companies have had access to for years. As leaders, let’s embrace this gift and see how AI helps with your finances.
What Does it Mean to Know Your Numbers?
Have you heard this before- ‘Know your numbers’? While yes, that’s amazing advise but it can be challenging to do when you don’t know what it means. Here’s where you can start..
What 401(k) Option Works Best For You
Investing in your future is always a good idea. There are a few different 401(k) options and one might include your employer investing in your future as well!
6 Reasons Why I Prefer a Roth Retirement Plan
A Roth retirement fund has so many more benefits than a traditional retirement fund.
What Is An IRA?
One of the main types of retirement options, an IRA should be a comfortable and familiar acronym to everyone!
Wrapping Up Year End
Getting year end finalized and off to the IRS can seem overwhelming, but here are 10 things for every business owner to complete in order to do year end taxes.
Easy Personal Budgeting Tips
Tips and tricks for creating reasonable and simple spending habits to get you on the right financial path and make sure you control your money instead of it controlling you.
Accrual vs Cash Basis
Run your reports correctly and make better business decisions by knowing which method you use - Accrual or Cash Basis.
Where to Start When Starting… Tracking!
The minute you purchase something for your business, whether established in the eyes of the state/feds or not, you have started your accounting.