Accounting 101 for Your New Business… with Josh Bauerle

  • Introduction to Lesson
  • Bookkeeping Basics
  • Separate Business and Personal Finances
  • How to Organize Your Expenses
  • Options for Bookkeeping
  • How does the IRS Define a Business Expense?
  • How to Turn a Personal Expense Into a Business Expense
  • How to Properly Document Your Expenses
  • Understanding the Different Business Entities
  • What is Self Employment Tax?
  • Pros & Cons of Each Business Entity
  • Which Entity is Right For You?

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About this Class

Would you rather go to the dentist than get your accounting in order?

Have you ever said to yourself…

*I’m not good at numbers.
I don’t have time.
I don’t know what I’m doing.*

For the average small business owner, these are common refrains.

After all, taxes are often an entrepreneur’s single largest expense, which leaves even seasoned business owners filled with dread.

That’s why Josh Bauerle of CPA On Fire is here to help. His easy-to-understand lesson will ease those sweaty palms and sleepless nights. He’ll walk you through the exact steps you need to follow in order to maintain your books, keep everything on the up-and-up with the IRS, and pay the minimal amount of taxes necessary.

In today’s lesson with Josh, you’ll learn:

  • How to keep your books and why doing so is critical. You’ll learn the single-most important rule to keep in mind when bookkeeping, and you’ll discover how to reduce the risk of an audit from the IRS.
  • How to separate finances. Josh explains the three steps necessary in order to divide your personal and business finances so that you aren’t left scrambling at tax time.
  • What a business expense is and what can be deducted. You’ll learn the one question you can ask yourself to understand whether the IRS will let you deduct an expense. You’ll also know how to categorize your expenses correctly and choose a bookkeeping system that works for you.
  • How to turn personal expenses into business expenses. This strategy is completely legit and helps you reduce the amount of money you owe the IRS.
  • And finally, choose the business entity that fits your needs best. You’ll understand the different types of entities available, the pros and cons of each, and what each means for your tax returns.

If you’re ready to simplify your bookkeeping system and protect yourself against legal problems, be sure to watch this engaging lesson with Josh Bauerle.

Resources:

About the Instructor

Josh Bauerle Founder of CPA On Fire
Josh Bauerle has been working in accounting for over a decade and has completed thousands of tax returns for clients. He is the owner of CPA On Fire, where he focuses on helping entrepreneurs keep their tax and business matters simple. He’s worked with some of the top people in online marketing, including John Lee Dumas of Entrepreneur on Fire.
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7 thoughts on “Accounting 101 for Your New Business… with Josh Bauerle”

  1. Answered several questions I’ve had in a clear way finally. Wish I had seen this video when I first started my journey. Thanks for the lesson!

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  2. I wish I watched this years ago when I first started my business. Would have helped me avoid learning it the hard way. Awesome course thanks for the clear cut simple strategies.

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