In honor of yesterday's "Tax Day" - Erica addresses the question that is often high on our minds. And the answer should be encouraging!

Today Erica is joined by Sean Mullaney, a Los Angeles-based advice-only financial planner and author of "Solo 401k: The Solopreneur Retirement Account". Sean shares his expertise on the differences between SEP IRAs and Solo 401(k)s, the benefits of each, and why most solopreneurs might favor the latter for their retirement savings.

Some of the questions they discuss are:

• What is the difference between a SEP IRA and a Solo 401(k)?

• How can an advice-only financial planner benefit your retirement planning?

• Can a Solo 401(k) be a better option for solopreneurs than a SEP IRA?

Whether it’s growing fast…or slow…today Erica shares some encouragement as you move forward in your business.

Hint: growth doesn’t have to be accompanied by pain!

And in the meantime, may your week be filled with healthy growth, and profit…

In this happy hour bonus episode, Erica and Ben crack a beer and talk about top-of-mind money topics like:

• saving money on hotels and rental cars

• update on Erica's Southwest points hack

• cheap first class airline tickets

This episode of a LIVE walkthrough of Erica filing her own BOI (Beneficial Ownership Information) reporting via the FinCEN website.

If you haven't already, listen to Episode 65 first.

Today Erica talks about the brand new Beneficial Ownership Information (BOI) reporting law, which went into effect on January 1, 2024. Geared toward small business owners, consultants, and agency owners, this law mandates reporting to the Financial Crimes Enforcement Network (FinCEN), a branch of the U.S. Department of Treasury.

In this must-listen episode, we delve into the crucial decision of converting your business to an S-corp. Is it the right move for your business in its early years? What about as you approach retirement? Plus, we explore the implications for those juggling a W-2 job alongside their consulting gig.

In this must-listen episode, we delve into the crucial decision of converting your business to an S-corp. Is it the right move for your business in its early years? What about as you approach retirement? Plus, we explore the implications for those juggling a W-2 job alongside their consulting gig.

In this must-listen episode, we delve into the crucial decision of converting your business to an S-corp. Is it the right move for your business in its early years? What about as you approach retirement? Plus, we explore the implications for those juggling a W-2 job alongside their consulting gig.

Is THIS the year that you are leaving the corporate cushion and heading out on your own? If so, listen for the “speed dating version” of what you need to get started. If you want a deeper dive into the items above, check out the episodes in our “Business 101” series (links inside!):

Enjoy this short and sweet conversation I had with our 12-year-old daughter Riley, about money and other things…

A recent incident with my mom-SUV provided a clear illustration that, just like there is a difference between auto mechanics, there is a difference between accountants, too.

And to keep it in the spirit of the Holidays, Erica borrowed a page from The Christmas Carol to explain how each of “the ghosts of accounting” work, how to decide when you need each one - and why.

Does your business have money “sitting around?”

It’s always a good idea to build up a cash reserve in case something unexpected and unfortunate pops up.

Think of it as a parking lot for your money.

Something that you can use to continue paying your living expenses when needed.

Erica discusses how to utilize a high-yield savings account in order to do just that.

And - most importantly - explains how to find the BEST high-yield savings account!

Are you a “corporate refugee”? 

In this informative and engaging conversation with David Shriner-Cahn, he touches upon a wide range of issues that relate to the journey from being an employee to becoming a successful entrepreneur. 

In this episode, Erica talks through what needs to change in your business once you convert to an S-corp for IRS tax purposes.

Erica welcomes fellow female CPA Sheila Hansen to the show!

Sheila and I are members of a professional network were we can grow with fellow female CFOs and CPAs, offering each other support, advice, and practical knowledge. Sheila works mainly with creative service providers, providing financial support to business owners such as copywriters, photographers, social media managers, coaches, and speakers.

If you're feeling overwhelmed and unsure about how to start or grow your private practice, constantly second-guessing yourself and your strategies, then you are not alone! Many mental health professionals in their careers' early stages face overwhelming challenges.

But tune in for some encouragement and practical tips!

Today I’m speaking to those professional-service business owners who may have turned the corner and are planning for (or already have) a $1M business. (And if you’re not there yet, you may want to listen anyway, so that you’re prepared for the future!)

Considering revenue, Human Resources, travel plans, taxes, etc, I run through a handful of questions to consider as you plan for a successful 2024.

Entrepreneur Sara Walton is deeply passionate about empowering women to take control of their finances. In this interview, she explains how the power of exploring and analyzing data can boost your bottom line. And if the idea of data seems daunting to you, you'll be delighted to learn about some non-traditional ways to uncover it!

While the goal of some business owners might be to pay NO taxes, that’s truly an unrealistic - and impractical - goal. Erica explains the ONLY way that you can do that legitimately and outlines 3 specific strategies you can use to minimize them.