Creatives Meet Business
About This Show
Listen in on what industry experts had to say at the latest Creatives Meet Business event. Host Ashland Viscosi curates and shares the best content and tips from the live events to help creatives and artists transition into creative entrepreneurs.
Most Recent Episode
What's a CPA...? Taxes, Deductions, Quarterlies and More with Paul Glantz, CPA
Hi there folks! Creatives Meet Business is an event and podcast series based out of Austin, Texas for creatives of ALL disciplines to get from zero to one in thinking of themselves as business owners (in the creative sector). This episode features Paul Glantz, an Austin-based CPA, who owns Launch Consulting, Inc. Launch Consulting, Inc. assists clients throughout the business process - from business consulting to entity selection to bookkeeping to tax preparation. For all of these reasons, Paul will be back for the next couple of episodes as we tackle LLC and Business Structures and a mystery episode. Without further adieu, let's tackle taxes! 0:00 to 2:08 - Ashland Opening Remarks and Intro of Paul Glantz, CPA 2:14 to 3:51 - What IS a CPA CPAs can focus in certain spaces like: Public Accounting, Taxes, Industry / Private Practice CPAs in taxes help with compliance and filings and more 3:53 to 6:22 - Taxes and Who Can Prepare Them Taxes can be prepared by a tax service provider (like H&R Block), an Enrolled Agent, or a CPA CPA - has a vested interest in clients and looks for opportunities to save client money. Benefit in a CPA lies in the long-term relationship. 6:25 to 8:25 - Just Getting Started? Finding the Right CPA Main factors for choosing a CPA: Price - Find someone in your budget, but don't cut corners Familiarity with your industry - Tax is broad, you want them to be familiar with your industry and the deductions available for you Are you a more aggressive or conservative tax payer? Make sure they're comfortable with your style and vice versa. 8:27 to 10:25 - How do you minimize your bill with your CPA? Ask your CPA up front and have a conversation about it! Keep clean records Separate business from personal - have a business banking account and credit card 10:27 to 13:30 - What do you give your CPA (from your business) at the end of the year? Profit & loss statement, a balance sheet, general ledger If you aren't using accounting software and are tracking for yourself, categorize your expenses on an annual basis Benefits of a