Contrary to popular opinion, Millennials aren't the only ones doing side work and following their dreams, Baby Boomers are emerging as entrepreneurial spirits as well! This week, we get to hear from Generation X firsthand through a reluctant representative -- my mom. As a Program Analyst for the CDC she has a deep passion for African American genealogy research and shares:• Her experience discovering her passion• How to create opportunities to monetize it• The sometimes harsh realities that come with balancing full-time work and your passion project, plus more! I truly believe that our ancestors are calling out for their stories to be told. They lived through a time where they couldn’t speak for themselves, so we are in a unique position to speak for them by both knowing and sharing their stories. Let us know your thoughts once you’ve listened to this unique episode, we’d love to hear from you! For more information about your specific accounting needs, visit our blog at www.littlefishaccounting.com/blog. We love hearing from our listeners! Send us an email at podcasts@littlefishaccounting.com or visit us on Instagram to send us your feedback on our content. To learn more about us, visit www.littlefishaccounting.com, find us on Instagram (@littlefishaccounting), on Facebook (Little Fish Acctg), or email us at hello@littlefishaccounting.com.

Fish Food

43 | Discovering Your Passion

To make the best strategic decision for your accounting needs, you need to understand the differences between accrual and cash accounting and how your choice may affect how you file your taxes. While the biggest difference may be easy to understand — deciding when to recognize income and expenses — there are other nuances that need a bit more explaining.  So, in this episode, we discuss:• The difference between cash accounting and accrual accounting.• How each type of accounting recognizes revenue.• Why choosing between the types of accounting matters to your business.• Our preferred accounting strategy for your business. For more information about your specific accounting needs, visit our blog at www.littlefishaccounting.com/blog. We love hearing from our listeners! Send us an email at podcasts@littlefishaccounting.com or visit us on Instagram to send us your feedback on our content.To learn more about us, visit www.littlefishaccounting.com, find us on Instagram (@littlefishaccounting), on Facebook (Little Fish Acctg), or email us at hello@littlefishaccounting.com.

42 | Accrual vs. Cash Accounting: Why Does It Matter?

If you’ve been tuning into our podcast for awhile or hanging out with us on Instagram, you’re not surprised when we say this: You should be charging more for your goods and services. Yes, you!When you undercharge for your service or product, you’re not only sending a clear message to existing and potential clients and customers about your value, you’re also telling them how to perceive your worth as well. But this decision to undersell yourself doesn’t just affect you and your business, but others as well. On this episode of the podcast, we talk about:• How undercharging actually takes away from the growth of your business.• The example you set for your team when you undervalue and undercharge.• How resentment builds toward your clients, leading to unnecessary conflict.• How the community suffers when you don’t have the resources or time to reinvest in it.We know your value and we want you to know it, too. So, if you’ve been on the fence about raising your prices and nervous about how your clients and customers will respond, you’ll definitely want to tune into this episode. And as always, we love hearing from our listeners! Send us an email at podcasts@littlefishaccounting.com or visit us on Instagram.To learn more about us, visit www.littlefishaccounting.com, find us on Instagram (@littlefishaccounting), on Facebook (Little Fish Acctg), or email us at hello@littlefishaccounting.com.

41 | How Many People Are Affected When You Don’t Charge Enough?

Entrepreneurs are no strangers to isolation — we often work alone and make most of our decisions by ourselves. And while we’re used to going at things solo, it doesn’t mean we thrive in that environment. That’s why we’re so excited to get to know and introduce you to people who are making moves to not only grow their businesses, but working to grow the community of entrepreneur networks. Meet Stephen Miller, co-founder of Locale. Locale hosts pop-up co-working days in non-traditional spaces in New York and Washington, D.C. to connect remote-working entrepreneurs while promoting travel and diversifying work locations. In today’s interview, we talk about:• Some common obstacles entrepreneurs face while working remotely.• The power of pacing yourself in your business.• Separating the urgent from the important.• Giving yourself time to think abstractly about your business. As always, thank you for tuning in to the podcast! If you want to find out more about Locale, you can visit www.localeworkspace.com or find them on Instagram - @localeworkspace.  To learn more about us, visit www.littlefishaccounting.com, find us on Instagram (@littlefishaccounting), on Facebook (Little Fish Acctg), or email us at hello@littlefishaccounting.com.

40 | How Diversifying Co-Working Spaces Fosters Community Among Entrepreneurs

The past quarter of the year has been unlike anything we ever anticipated for our businesses. The pandemic has introduced a new level of complexities to our ventures, but thankfully, state and federal agencies have been aiming to help businesses like yours navigate the change in sales numbers. For those of you who are running the show solo as sole proprietors, you may have taken advantage of the Paycheck Protection Program. You probably also have some questions about it. Well, we’re here to answer them! In this episode, we talk about:• How to apply for the Paycheck Protection Program.• How much you can get from the program.• What you can spend your PPP money on.• How to request PPP forgiveness.Thanks for tuning into this week’s podcast! If you have any questions, feel free to ask them in the comments section or on Instagram — we’re always looking for ways to better serve you. Related Links:Schedule C formPPP forgiveness application To learn more about us, visit www.littlefishaccounting.com, find us on Instagram - @littlefishaccounting, on Facebook at Little Fish Acctg, or email us at hello@littlefishaccounting.com. 

39 | Everything a Sole Proprietor Needs to Know About the Paycheck Protection Program

There’s a gap in society — those who were taught financial literacy early on, and those who weren’t. We feel like we should be managing our finances well, but we don’t know the first place to start. As a result, this lack of knowledge is a pain point for many, leading to shame, feeling overwhelmed, and guilt. Because we know so many of us struggle with these feelings on a daily basis in our businesses, it’s nice to have someone on the podcast who understands. Meet financial coach, Keina, founder of Wealth Over Now. Her target demographic is passionate, single women who need help creating financial goals, saving more money, and stressing less. Using her personal finances knowledge, today on the podcast, we discuss:How mindful spending is something everyone should practice. The importance of knowing where and how you spend your money.Prioritizing what you value instead of going without.Why Keina prefers “spending plans” instead of “budgets.”When it’s time for you to secure your own financial coach.As always, thanks for tuning into our podcast! To find out more information about Keina and Wealth Over Now, visit www.wealthovernow.com or visit her on Instagram - @wealthovernow.  To learn more about us, visit www.littlefishaccounting.com, find us on Instagram - @littlefishaccounting, on Facebook at Little Fish Acctg, or email us at hello@littlefishaccounting.com. 

38 | How to Save More and Stress Less with Keina of Wealth Over Now

So, you’ve made the leap and you’ve decided the world needs your product or service. Congratulations! We’re so proud to support you on this journey — it’s both rewarding and incredibly challenging, at times.As a way to support you, welcome to the Accounting for Entrepreneurs Workshop, which will help you understand and set up your business’s personal accounting. During this workshop, you’ll learn:• Why accounting is necessary to your business.• How to properly report your finances.• The difference between various financial reports.• The importance of keeping your personal and business finances separate.• Types of taxes and the top challenges business owners face. • Types of deductible expenses.• The difference between a payroll employee and a contractor. You’ll definitely want to tune into this workshop. To learn more and to contact us, you can visit www.littlefishaccounting.com, find us on Instagram - @littlefishaccounting, on Facebook at Little Fish Acctg, or email us at hello@littlefishaccounting.com.

37 | Accounting for Entrepreneurs Workshop

Because of the uncertain times we’re living in and the accompanied chaos it brings, it’s likely everything in work and life feels a little off balance. As we’re all trying to define what normal in this season looks like for us, it’s important to stay on top of the things we can control. That’s why I’m so glad to have Tiffany, the founder of Pitch HR, join us on today’s episode. Pitch HR specializes in helping clients make great first impressions through résumé assessments and adjustments. Whether your job is on hold or you’re still working at your normal pace, it’s important, especially now, to have a certain level of preparedness, even if that means being ready to switch jobs quickly.On this episode, we’re: - Debunking myths on résumé length.- Discussing how to properly consolidate your résumé.- Teaching you how to pitch yourself and determine if an employer is a good fit.- Sharing the best questions to ask during an interview.- Equipping you on how to best ask and answer questions about compensation.We hope this episode’s content helps you be prepared for whatever comes next. If you want to learn more about Pitch HR and its services, visit PitchHR.com. Thanks for listening! As always, come chat with us in the comments section or over on Instagram. Find us online:Website: www.littlefishaccounting.comInstagram: www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg  Subscribe to our newsletter! Biweekly tips, guidance and resources.www.littlefishaccounting.com/subscribe  We'd love to hear from you! Email us at podcast@littlefishaccounting.com

Episode 36 - Pitch HR Interview

on today’s episode of the Fish Food podcast, we’ve got answers!You’ll want to tune into this episode if:-You’ve ever wondered the difference between a sole proprietorship, a partnership, an LLC, and an S corporation.-You have a difficult time deciding whether or not classifying your business as an S corporation will help you save money on your taxes.-You don’t quite know how to pay yourself.-You’d like to understand how the state and federal government view your business and what your taxes will look like.As always, we’re here to help entrepreneurs just like you. If you have any questions or would like more information about anything related to business, taxes, and the like, go follow us on Instagram to continue the conversation!  Find us online:Website: www.littlefishaccounting.comInstagram: www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg Subscribe to our newsletter! Biweekly tips, guidance and resources.www.littlefishaccounting.com/subscribe We'd love to hear from you! Email us at podcast@littlefishaccounting.com 

Episode 35 - Paying Yourself - What does that mean?

Ticora is founder and chief esquire officer of The Creator’s Law Firm, a boutique firm that specializes in helping people protect their creative work, products, and business names. Not only is she dropping invaluable knowledge about how to strengthen your business, she also dives into how she got her start in entrepreneurship, how she overcame her fear of starting something new, and what she’s working on now. On the podcast, we’re discussing:The gift of doubt from others.The difference between a trade secret and a copyright and why one may serve your business better than the other. How to understand what intellectual property is and what it means for your business.How procrastination fuels imposter syndrome.The common mistakes business owners make with trademarks.We hope you enjoy today’s podcast! As a bonus, Ticora has given listeners a discount to her online legal toolkit, Breadwinner, using the code ‘Fish.’ Find out more information at https://ticoradavis.com/breadwinner. Leah

Episode 34 - Interview with Ticora

Any time a small business launches and not only survives, but thrives, it’s a pretty big deal. It’s been two years of hard work, a lot of effort, and even a few tears. So, today we’re chatting with Little Fish’s founder, Keila Hill-Trawick, as she takes a trip down Memory Lane where she shares:-Three reasons why she’s celebrating her small business. -Her work history and background.-What it was like to quit her full-time job in exchange for the scary world of entrepreneurship. We’ve had so much fun working with our clients and helping so many others through our bimonthly newsletter, our social media platforms, and of course, our podcast. It is our hope that you feel empowered and less fearful about your business’s finance and accounting needs.Cheers to more years serving you and sustaining our small business, we appreciate you for joining us on this journey! Find us online:Website: www.littlefishaccounting.comInstagram: www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg Subscribe to our newsletter! Biweekly tips, guidance and resources.www.littlefishaccounting.com/subscribe We'd love to hear from you! Email us at podcast@littlefishaccounting.com

Episode 33 - Little Fish Turns Two!

The definitions of inventory and cost of goods sold.Best practices for organizing and tracking inventory.Why you have to wait to claim cost of goods sold as a deduction.As always, we’re happy to provide you the necessary information to help your business thrive and grow! After you listen to this podcast, we’d love to hear from you. Make sure to leave us a comment — let’s chat! Find us online:Website: www.littlefishaccounting.comInstagram: www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg Subscribe to our newsletter! Biweekly tips, guidance and resources.www.littlefishaccounting.com/subscribe We'd love to hear from you! Email us at podcast@littlefishaccounting.com

Episode 32 - Creatives, Makers, and Cost of Goods Sold

In today’s episode, we’re:-Chatting about how Anika got her start as a business owner.-Discussing common hurdles new business owners face and the resources available to them.-Learning about how to produce goods and services and why understanding buying cycles is important.-Talking about the differences between selling your goods wholesale versus consignment and what that looks like from an inventory standpoint.As always, thank you for tuning into the podcast! We’d love to hear your thoughts about today’s episode, so feel free to leave us a comment. To learn more about Nubian Hueman, visit nubianhueman.com. Find us online:Website: www.littlefishaccounting.comInstagram: www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg Subscribe to our newsletter! Biweekly tips, guidance and resources.www.littlefishaccounting.com/subscribe We'd love to hear from you! Email us at podcast@littlefishaccounting.com

Interview with Anika Hobbs

For a lot of us, the extension feels like we can take a deep, thankful breath, a welcome change especially during a time like the one we’re in now. So, in today’s episode, we’re talking about what this extension will mean for business owners, especially in the areas of: How the extension affects any taxes you owe.How the extension affects those who had a March 15 file date deadline.Why it may be beneficial to file now instead of waiting until July.What documents you need to have readily available when it’s time to file your taxes. We hope this episode is helpful to you! We’d love to hear from you, so please leave us a comment and let’s start a conversation. Find us online:Website: www.littlefishaccounting.comInstagram: www.instagram.com/littlefishaccountingFacebook: www.facebook.com/littlefishacctg Subscribe to our newsletter! Biweekly tips, guidance and resources.www.littlefishaccounting.com/subscribe We'd love to hear from you! Email us at podcast@littlefishaccounting.com

Episode 30 - Tax Filing + Payment Extension

As entrepreneurs, we’re no strangers to the inevitable rise and fall of income and product and service cycles. And even if our funds and time are limited, there are ways we can still support each other.   In today’s episode, we’re talking about: What you can buy — even when you don’t have a lot of money — from a small business to show your support.The power of leaving a positive online review.Why showing yourself and others grace during this season is of the utmost importance. We hope you enjoy the podcast! Every little bit counts in a time of crisis, and together, we can do something big. Leave a comment below to share with others how you’re making an impact, no matter how big or small. 

Tips to Support Small Businesses

Little Fish Accounting presents Fish Food, a podcast with bite-sized accounting advice and discussions for freelancers and entrepreneurs. Hosted by Keila Hill-Trawick, CPA, MBA

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Fish Food

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