Why Did We Start This?

All Debt is Bad Debt? Business Advice True/B.S. | Wheel of Wisdom

I put four pieces of popular business advice on trial: hire slow and fire fast, all debt is bad debt, the customer is always right, and you just need to hustle harder. So

Their $171,000 Tax Bill Was Wrong

A client came to us facing a $171,000 tax bill that did not feel right. As I reviewed the return with our team, we found bookkeeping errors that had inflated the income.

Your $400K Business Should Not Feel This Broke | Monday Mindset

A water damage restoration owner is bringing in about $400,000 a year and still wondering whether the business is worth operating. I break down why the tax bill may not b

How Ramp Helps Teams Control Business Spending | Software Saturday

Handing an employee the company card without clear limits is not trust. It is leaving everyone to guess. I am showing you why Ramp has become one of my favorite tools for

He Has Two Years of Money and Cannot Take a Vacation | Freedom Friday

A young real estate agency owner posted that he has gone almost three years without a day off. He just closed the biggest deal of his career, and the win put him in bed u

QuickBooks Payroll Took $25k She Had Already Paid

Two days ago QuickBooks payroll pulled twenty five thousand dollars out of a business owner's operating account, for payroll taxes she had already paid herself. QuickBook

A One Dollar S Corp Salary Is Not a Strategy | Wheel of Wisdom

It is Wednesday, so we spun the wheel and pulled six pieces of advice off the internet to see what survives contact with a real business. Almost none of it did. Sleep whe

He Would Get a Job So His Facebook Ads Guy Could Keep His

A guy posted on Reddit asking whether it is normal that some months he profits and some months he does not pay himself. We ended up calling him Bob, because Reddit does n

We Gave Expensify Three Stars | Software Saturday

Expensify says it is for solo owners all the way up to enterprises, and that is the part we disagree with most. It is not for solo owners. I used it years ago at the chur

Money in the Hands of Good People Does Good Things | Freedom Friday

Mindset is a buzzword right now, and I know it makes a lot of Christians nervous. It made me nervous a couple of years ago too, so today I want to rub some cats the wrong

Their Instagram Looked Incredible. They Are Going to Prison.

A couple here in North Texas just got federal prison time for taking $4.2 million from more than forty families across six counties and leaving custom homes unfinished. W

Your CPA Is Not Doing Your Financial Strategy | Wheel of Wisdom

Somebody tells me my CPA is handling my financial strategy, and I nearly always have to say: almost certainly not. Unless you have signed a CFO engagement with them, what

She Posted That She Could Not Make Payroll

A Bluevine report came out in February that I cannot stop thinking about. They asked 785 small business owners about the reality of running one, and three in four said th

You Only Have a Lap When You Sit Down | Monday Mindset

We came to you live from the Settled conference on Friday, and I have been sitting with one thing Jason said ever since. Luke says give and it will be given to you, poure

The Business Credit Card We Actually Use | Software Saturday

Get $500 with Bill Spend and Expense Spend your first $500 on the card and they pay it back to you. We are affiliates, and we use it ourselves. Today is Software Saturd

Trust God With the Results, Not Just the Goal | Freedom Friday

Happy Freedom Friday. Penny and Jonathan are recording this one from a coffee shop on the road to the Settled conference in Grapevine, which is exactly the kind of Freedo

15 Questions to Ask Before You Hire a Bookkeeper

On Tuesday we told the story of an owner who overpaid the IRS by about forty five thousand dollars because nobody was checking the work. Today is the follow up we promise

Your Gut Is a Liar | Wheel of Wisdom

It is Wednesday, so the wheel is out and four business sayings go on trial. First one in, last one out gets thrown out fast: presence is not productivity, and Jonathan sa

"I Can't Afford a Bookkeeper" Cost Them $45,000

"I can't afford a bookkeeper." Penny and Jonathan hear it constantly, so today they answer it with receipts instead of opinions. It starts with a client who was running P

The Lie That Costs Business Owners the Most | Monday Mindset

It is Monday, which means we start before the inbox. Penny opens in Matthew 4, where the first thing the enemy goes after is not Jesus' power but his identity: "if you ar