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Are your finances captured, organized, and planned out for the future? Whether you are a beginner or advanced freelancer, finances are typically the biggest pain point in your business.

In this episode, my guest Meagan Hernandez shares her top five business finance tips for business owners.  She shares how to get on top of your finances and why setting your finances up from the start will benefit your business in the long run.

Here are some things we covered in this episode:

  • How to start organizing your finances
  • How to get on top of your finances once and for all
  • 5 Business Tips for Online Entrepreneurs
  • When you should move from a sole proprietorship
  • Who to have in your financial corner
  • Why you need a business bank account
  • The advantages of setting up finances right from the start
  • Why you should use finance software versus a spreadsheet
  • How often you should look at your finances
  • What is tax-deductible for your business
  • How much money you should set aside for savings, expenses, and taxes
  • The benefit of having a trusted accountant in your corner

Mentions:

Profit First by Mike Michalowicz

After listening to this episode, share your action steps and take-aways with our group:

Mastering Your Freelance Life With Laura

Meet + Connect With Meagan:

Meagan Hernandez is a Tax Accountant with over a decade of experience in the Accounting industry. She has an online Accounting firm where she works with Freelancers, Entrepreneurs & Business Owners all over the US providing Accounting, Bookkeeping and Tax Services.  Meagan also has a course to teach new and experienced Bookkeepers how to build their own businesses. She is a mama to 2 little ones and has been blessed to stay home with them while building her business for over 2 and half years now. Meagan loves working with all types of business owners and freelancers, but has a very special place in her heart for those looking to educate themselves more in all this business finance.

Connect With Laura:

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Meet Laura:

Laura Briggs is empowering the freelance generation. Through her public speaking, coaching, and writing, she helps freelancers build the business of their dreams without sacrificing all their time, family, or sanity. Laura burned out as an inner-city middle school teacher before becoming an accidental freelancer with a Google search for “how to become a freelance writer.” Since then, she’s become a contributor to Entrepreneur, Business Insider, and Writer’s Weekly. She worked for more than 300 clients around the world including Microsoft, Truecar, and the Mobile Marketing Association. She’s delivered two TEDx talks on the power of the freelance economy for enabling freedom and flexibility and how it’s being used to address the technical skills gap in the U.S. Laura is the host of the Advanced Freelancing podcast, a sought-after public speaker on the gig and digital freelance economy, and a freelance coach focused on aspiring six-figure freelancers. Laura’s books, courses, and coaching have reached over 10,000 people.

As a military spouse, Laura is passionate about serving her community and founded Operation Freelance, a nonprofit organization that teaches veterans and military spouses how to become freelancers and start their own business.