What Hat Are You Wearing Today, ?

What Hat Are You Wearing Today, ?

Published: Thu, 02/01/24

Musings From Your

Favorite Attorney

What hat are you wearing today?

As small business owners, we often find ourselves wearing all. the. hats.

We are working with our clients to provide the services that are in our zone of brilliance.

We also act as our own receptionist, secretary, executive assistant, marketing manager, social media manager, bookkeeper, billing specialist, and even janitor.

Is it time to delegate some of those hats? Are you ready to fully step into your role as the CEO of your company?

I think there comes a time for every business owner when the writing is on the wall.

We realize that working 24/7/365 to build our business isn't sustainable for the long term.

We realize that our health is at stake. That our ability to serve our clients at our best is at stake. That our relationships with family and friends are at stake.

I was there. The first thing I gave up was the receptionist role - I outsourced that to Acuity - a calendaring software. Best money I ever spent on software! Then, I outsourced my website development and updating - so far outside of my zone of genius! I've also outsourced payroll and portions of my social media.

Letting go of control isn't always easy or simple. But it is necessary for the growth and viability of our businesses.

Now I'm looking for more ways to automate some of the repeatable tasks I do. Anything to be more efficient so I can serve more clients! And serve them with the best of what I have to offer.

Is it time to outsource your legal compliance? I offer done-for-you 1:1 legal services for clients in PA and MD, and the Wise Owl Academy for everyone else. Is it time for us to chat?

What hat will you delegate next?

Until next time.

With gratitude,

Cheri

Corporate Transparency Act Workshop

Avoid hefty fines and prison time! Get compliant with the Corporate Transparency Act! Do you know how it affects you as a small business owner? Do you know how to be compliant with FinCEN BOIR reporting? If this all sounds like gibberish to you, I've got you covered!

Here's your formal invitation to the Corporate Transparency Act Workshop where you'll learn what exactly this new regulation is and how it affects you as a small business.

In this half-hour workshop, you will learn

what the Corporate Transparency Act is,
why you WANT to be compliant,
what you need to do to be compliant with the Act,
and what information you'll need to fill out the Beneficial Owner Information Reporting (BOIR) for yourself, or provide to me to fill it out on your behalf.

I'll also walk you through the BOIR on the FinCEN website, so you can feel comfortable filling out the form on your own.

In just a half-hour, you'll have all the information you need to get compliant with this new legislation!

This is a small group workshop, so seats are limited. The workshop will be held via Zoom and requires advance registration. There are four different sessions scheduled in February to choose from! Register now to save your seat!

Avoiding A Tax Audit

The 1099s are out and now its time to sit down and start filing tax returns. As small business owners the last thing we want to deal with is a tax audit.

But what are your chances of getting audited in the first place?

According to an article on chron.com, approximately 1% of all tax payers are audited in any given year. While that may mean you have a 99% chance of NOT being audited, it still means the IRS closely scrutinizes a LOT of tax returns.

And that 1% figure jumps to 2.5% for small businesses. You have more than double the chance of being audited as a small business owner! Among the most audited are sole proprietors or LLCs with $100-$200K in gross revenue. Also, the IRS may initiate an audit up to three years after you file a return. So even if you think you skated through on last year’s return, you could still face an audit.

So how can you avoid an audit? Read more to learn the seven most common issues and errors that can trigger an audit.

Give Back Program

For the month of February my chosen charity is the Bucks County SPCA.  Bucks County SPCA is a 501(c)(3) organization that assists animals in need and prevents suffering through rescue, rehoming, cruelty investigation and prosecution, and community outreach. 

The Bucks County SPCA receives no federal, state, or
local tax dollars, nor do they receive funding from the ASPCA or PSPCA. They rely almost entirely on private donations. 

Bucks County SPCA is proud to have achieved and sustained
an average Live Release Rate of 93% (above the 90% no-kill shelter benchmark). When you give to the Bucks County SPCA you can be confident that your gift is making an immediate and lasting difference in the lives of local animals who need it most..

Donate to Bucks County SPCA

#SimpleAbundance

According to Sarah Ban Breathnach, a daily gratitude journal is the
first step on the Simple Abundance journey - and it is not optional. She says that simplicity, order, harmony, beauty, and joy (the other foundational elements of Simple Abundance) will not blossom and flourish without gratitude. My own gratitude journal is a practice that I occasionally slip away from, but always come back to eventually. How about you? Do you keep a gratitude journal?
 
Let's Talk Legal, my private Facebook Group, is a place to discuss the legal aspects of running a small business in an open, honest, supportive community of like-minded small business owners. If you are a member, engage! Ask questions, share business advice, join in discussions, invite your fellow business owners! If you aren't a member join now... We'd love to welcome
you!

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This newsletter is for informational purposes and does not constitute legal or financial advice. I f you need legal or financial advice, please consult a professional.

You are receiving this newsletter and offerings from Cheri Andrews LLC because you signed up for the newsletter or have had prior dealings with us. If you don't wish to receive the newsletter, you may unsubscribe at any time.

Warmly, Cheri

P.O. Box 431
Perkasie PA 18944
USA

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