Uncategorized – LB Bookkeeping & Tax Services

Happy Sunday! And keep pushing your goals this week.

napandavid@gmail.com — Sun, 15 Sep 2019 18:03:40 +0000

Easy like Sunday Morning! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Happy Sunday LB peeps! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Just wanted to wish all of you the best day everrrr! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Taking time to relax today! Awww feels good!

Bookkeeping: Personal vs. Business

napandavid@gmail.com — Fri, 13 Sep 2019 16:48:53 +0000

Ohh yes! Happy #FinanceFriday yall! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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I get a lot of questions about personal bookkeeping…⠀⠀⠀⠀⠀⠀⠀⠀⠀
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“Does LB Bookkeeping do personal bookkeeping?”⠀⠀⠀⠀⠀⠀⠀⠀⠀
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“What’s the difference between business bookkeeping and personal bookkeeping?”⠀⠀⠀⠀⠀⠀⠀⠀⠀
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“Which one do I need more? Do I need both?”⠀⠀⠀⠀⠀⠀⠀⠀⠀
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What’s the difference between business bookkeeping and personal bookkeeping?⠀⠀⠀⠀⠀⠀⠀⠀⠀
Business bookkeeping is tracking all the revenue, expenses, debt, and assets in your business on a regular basis. That information gets turned into financial statements which lets you make smart financial decisions, secure loans, and file your taxes.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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You can hire an online/remote bookkeeper like LB Bookkeeping to do your books (that’s me!), or do it yourself using Excel or accounting software (QuickBooks). ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Personal bookkeeping, on the other hand, is staying on top of your personal finances. It’s essentially expense management and budgeting. It can help you answer questions like:⠀⠀⠀⠀⠀⠀⠀⠀⠀
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“Am I spending too much on eating out?”⠀⠀⠀⠀⠀⠀⠀⠀⠀
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“Can I really afford to go to Ibiza this year?”⠀⠀⠀⠀⠀⠀⠀⠀⠀
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“What kind of home mortgage do I qualify for?” (Okay, you’ll need a bank to help you with this one. But if you understand your personal expenses, you’ll know how much you can handle in monthly mortgage payments.)⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Doing your “personal books” just means tracking your personal spending, and making sure you have a budget that works for your lifestyle. It could also mean keeping tabs on your personal debt and assets if you have a personal loan (like a mortgage). ⠀⠀⠀⠀⠀⠀⠀⠀⠀
If you want to track your personal finances, Mint.com (I use this app) is a simple tool to help get you started. Another amazing tool is Quicken, having been around for several decades, Quicken is one of the most established of all the personal finance software on the market. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
Wana chat about personal/bus bookkeeping? Contact me

Reminder: Third Quarter taxes are due.

napandavid@gmail.com — Thu, 12 Sep 2019 17:00:22 +0000

Just a little reminder….⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Due date: Monday, September 16th, 2019
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Remember, you are required to withhold at least 90 percent of your current tax obligation or 100 percent of last year’s obligation. A quick look at last year’s tax return and a projection of this year’s obligation can help determine if a payment is necessary. Here are some other things to consider:⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Avoid an underpayment penalty. If you do not have proper tax withholdings during the year, you could be subject to an underpayment penalty.
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Self-employed need to account for FICA taxes. Remember to account for your Social Security and Medicare taxes as well. Creating and funding a savings account for this purpose can help avoid the cash flow hit each quarter when you pay your estimated taxes.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Don’t forget state obligations. With the exception of a few states, you are often also required to make estimated state tax payments if you’re required to do so for your federal taxes. Consider conducting a review of your state obligations to ensure you meet these quarterly estimated tax payments as well.⠀⠀⠀⠀⠀⠀⠀⠀⠀

Exercise is very IMPORTANT. My tips to creating an exercise routine.

napandavid@gmail.com — Wed, 11 Sep 2019 16:15:09 +0000

No Time To Exercise Because You Work Too Much?⠀⠀⠀⠀⠀⠀⠀⠀⠀
Do you struggle to fit exercise into your busy schedule?⠀⠀⠀⠀⠀⠀⠀⠀⠀
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I don’t blame you.⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
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The good news is, there are several things you can do to stay fit despite your hectic life. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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The key to exercising on a regular basis is to make exercise a part of your daily routine.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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In other words, it should feel weird if you do not exercise for more than a couple of days.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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So how do you get started?⠀⠀⠀⠀⠀⠀⠀⠀⠀
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1) Eliminate Your Commute As Much As Possible ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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One of the biggest hassles about exercise is the commute to and from the gym. When you work 60 hours a week, there is very little time to be wasted. You MUST find a gym that is very close to where you live or work.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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2) Bring What You Need To Avoid Going Back & Forth⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Now that you have saved some precious time by finding a gym that isn’t out of the way, let’s move on to step #2.⠀⠀⠀⠀⠀⠀⠀⠀⠀
You must bring your gym clothes and equipment with you to work. This is imperative to create efficiency and to help set your mindset! (pack the night before or early in the am)⠀⠀⠀⠀⠀⠀⠀⠀⠀
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3) Keep Your Appointment: Make It To Your Training Session No Matter What ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Most people find every excuse not to go to the gym. The only way to make training a part of your daily routine is by forcing yourself to go, no matter what. I like to schedule paid training sessions and make it a point to go. (I lose my money if I don’t make it)⠀⠀⠀⠀⠀⠀⠀⠀⠀
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4) Design A 30-45 Minute Workout. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
The next thing you need to do is to maximize Your time at the gym. You do this by creating a workout plan that can be done in 30-45 minutes a day. (More on this later)⠀⠀⠀⠀⠀⠀⠀⠀⠀
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5) Make It Fun⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Another way to help fit exercise into your busy schedule is to make your training fun, something that you will look forward to (Zumba classes, hiking, yoga, boxing are some of faves!)

Today is Monday. Goals for this week…

napandavid@gmail.com — Mon, 09 Sep 2019 16:55:30 +0000

New Monday, New Week, New Goals⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Happy Monday LB Fam! Who’s ready to make this week your friend!?
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I’ll make my short list of goals for this week public! Please hold me accountable to them ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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1. Make LB clients my #1 priority (Finish all month-ends tasks) 2. Go to the gym 5 times this week (day 1 today)
3. Start a New Project (I’m excited for this one) ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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What are some of your goals?

Re-Set, Re-Adjust, Re-Focus… Re-calibrate

napandavid@gmail.com — Wed, 04 Sep 2019 15:52:09 +0000

Ready, Re-set, Go! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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It’s okay! not all will go as planned. Simmer down and try again. You got this!

The Right Approach to “Mistakes”

napandavid@gmail.com — Wed, 28 Aug 2019 18:00:26 +0000

Either way, you’re growing. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Dropping some #Wisdom on this fine Wednesday my peeps! ⠀⠀⠀⠀⠀⠀⠀
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I always try to remember that I am a work in progress. When I maintain that perspective, I realize that I don’t have to be perfect. I don’t have to have it all together. I don’t need to try to have all the answers. And I don’t need to learn everything in a day. When I make a mistake, it’s not because I’m a failure or worthless. I just didn’t do something right because I still haven’t improved enough in some part of the process. And that motivates me to keep growing and improving. If I don’t know something, it’s an opportunity to try to improve in a new area.⠀

“Everything is Your Responsibility”

napandavid@gmail.com — Fri, 23 Aug 2019 16:40:51 +0000

Being a business owner is not easy.⠀⠀⠀⠀⠀⠀⠀⠀⠀
At the end of the day, everything falls on your shoulders. Even if it’s not “your responsibility,” it’s ALL you’re responsibility. It’s a career path not meant for everyone — and those that pursue it for themselves can all relate to each other in some very fundamental ways.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Whether you’re running a restaurant, or a hair salon, or a bicycle shop, there are certain must-dos we must follow. Keeping track of your income and expenses is one of them. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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QuickBooks Self-Employed is the ideal product for freelancers, real estate agents and Uber/Lyft drivers. It’s a cloud-based product that can be accessed from any computer with an internet connection and your secure login. It includes the ability to separate business from personal expenses, track miles and transfer data to TurboTax.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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QuickBooks Self-Employed will calculate your estimated quarterly tax payments and remind you when they are due! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Do yourself a favor and start using QuickBooks self-employed! Contact us to get you set up! training provided

I Would Like Share What I’ve Learned This Far

napandavid@gmail.com — Wed, 21 Aug 2019 15:45:47 +0000

LB Fam!⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀
It’s difficult being an entrepreneur but not impossible. Many women are leaving corporate life because their jobs just aren’t inspiring them anymore. Starting a business allows you to find meaning and gives you the ability to leave behind a legacy that you can be proud of. To be truly successful, you need to find work that you’re passionate about and push through adversity. Like I said, difficult times will arise as an entrepreneur but the pros will outweigh the cons. ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Below the rules/tips I’ve learned this first year of entrepreneurship ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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1. Do not be afraid to fail.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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You have to move outside of your comfort zone. Often, women are more affected by failure and let it affect their confidence. Don’t let it. Failure is an inevitable part of success, from which we learn.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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2. Keep learning.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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The key to growth, innovation and success is knowledge. Every successful entrepreneur I have met is an avid learner. In fact, the average CEO reads up to 60 books a year. If you don’t like reading, try audio books, online classes etc ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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3. Become an expert.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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The marketplace has shifted, but people still value authenticity and expertise. You can showcase your knowledge through speaking, public relations and/or even blogging. You want to be as visible as possible so make a wish list of places you want to be seen that range from TV to YouTube and podcasts. Guest blogging is another great way to gain exposure.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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4. Minimize negative people.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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You will meet a lot of doubters and people who do not get or understand your vision. Try to avoid these people or at least any work conversation with people that do not inspire you to move forward.⠀⠀⠀⠀⠀⠀⠀⠀⠀
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5. Network. Network. Network.⠀⠀⠀⠀⠀⠀⠀⠀⠀
If you want to build a large and successful business, you cannot do it alone. You need to get over your fear of rejection and network like it’s your job.

Dream It… Achieve it

napandavid@gmail.com — Mon, 19 Aug 2019 15:36:40 +0000

Happy Monday LB Family!⠀⠀⠀⠀⠀⠀⠀⠀⠀
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Nothing in life is impossible, the word it self says I’m possible ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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I’m the kind of person that says nothing is impossible when you work hard and go after what you want! ⠀⠀⠀⠀⠀⠀⠀⠀⠀
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What are your thoughts? ⠀⠀⠀⠀⠀⠀⠀⠀⠀
What are you accomplishing this week?