EPISODE 234
The Money Mistakes Hurting Small Businesses and How to Fix Them
with Tanya Akimenko
Is the way you handle your business finances helping you grow or holding you back?
From starting out in a small Alaska town to running a thriving, multi-location accounting firm, Tanya Akimenko has seen firsthand how financial missteps can derail even the most promising small businesses.
As the founder of Golden Apple Agency, she helps business owners across the U.S. organize their finances, save on taxes, and build lasting wealth.
Avoiding Common Financial Pitfalls
If you’ve ever mixed personal and business expenses or judged your company’s health by your current bank balance, you’re not alone. But it could be costing you.
Tanya shares the red flags she spots most often in small businesses and the simple steps you can take right now to get organized, protect your cash flow, and make better financial decisions.
Structuring Your Business for Tax Savings
Your business structure plays a huge role in how much you keep and how much you hand over to the IRS.
Tanya walks you through when to move from an LLC to an S corporation, why $100,000 in net profit is the magic number, and how the right setup can cut your payroll and self-employment taxes by over 15%.
Enjoy this episode with Tanya Akimenko…
Soundbytes
17:03 – 17:13
“You have to have logical thinking when it comes to taxes, because tax has so much gray area. How you interpret it. It’s not always black and white.”
08:05 – 08:25
“So I sold my house, moved in with my mom, hired a bunch of people, and started training. There were a lot of growing pains. It took a lot to realize that just because you’re great at something and you think you can train people, it’s not the case.”
08:26 – 08:47
“It takes a special kind of person to do tedious work, like accounting. And then it also takes another type of person to actually talk to clients. That’s not always the same person. So I was like, okay, so I can’t duplicate me. I have to separate positions for different people.”
Quotes
“With taxes, you don’t need just knowledge, you actually need some wisdom.”
“If you’re not growing, you’re shrinking.”
“Accounting is not really math. It’s more of a puzzle.”
“Finances are the heartbeat of your company.”
Links mentioned in this episode:
Connect with our Guest Host
Website: https://www.goldenappleagencyinc.com/
Connect with Tanya Akimenko on LinkedIn: https://www.linkedin.com/in/tanyaakimenko/
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