Just recently Forbes reported that 1 in 3 polled executives reported their business was the target of a cyber attack! Famous cyber breaches include Microsoft, the Red Cross, T Mobile, Pizza Hut and PayPal. So what cyber security trends will affect you and how do you protect yourself? Find out more from Jim Bourke! 👇 👇 👇

Jim is the Managing Director for Advisory Services at Withum and for 30+ years has guided business owners regarding technology. In this episode of the Financial Bites podcast we discuss how cyber security has changed in recent years and the implications to businesses and individuals. We also discuss cyber security strategies specifically for small and medium sized companies. Lastly, we discuss common cyber security mistakes and how to avoid them.

Make sure to listen to the very end to hear Jim’s top "tip" for your cyber security!

Recently there was a dramatic increase of bankruptcy filings. You may be surprised, but some notable past bankruptcies include General Motors, Marvel and the Chicago Cubs! So what are the various forms of bankruptcy and how can it provide relief to distressed individuals and companies? Find out from @Brent George! 👇👇

Brent George of the Law Offices of Brent D. George has represented hundreds of clients including private individuals, partnerships and small and large businesses. Brent has been practicing since 1994 and has expertise in bankruptcy law. In this episode of the Financial Bites Podcast we discuss the various forms of bankruptcy including both Chapter 7 and Chapter 13 bankruptcy. We also discuss the benefits of hiring an attorney and the ideal time to reach out for help. Lastly, we discuss common mistakes for private individuals considering bankruptcy and what to avoid if you are considering bankruptcy.

Make sure to listen to the very end to hear Brent’s top "tip" for people who are considering bankruptcy!

During 2021 the number of mergers and acquisitions (M&A) were at record breaking amounts. Then in 2022 there was a slight decrease and now there are reports of significant “dry powder” in the hands of venture capital, private equity and strategic buyers. So what can you expect from M&A this year? Find out more from @Christian Schiller! 👇 👇 👇

Please note The examples provided in this podcast related to potential increases in value through an investment banking process do not in any way assure future success.

Christian is a Managing Director at Cascadia Capital and for 20 years has guided entrepreneurs through the successful sale of their business. In this episode of the Financial Bites podcast we discuss the current state of M&A activity and the recent record breaking numbers of deals. We also discuss the advantages of hiring an investment banker and recommended timing for business owners. Lastly, we discuss common mistakes for sellers and how to avoid them during your transaction.

Make sure to listen to the very end to hear Christian’s top "tip" for business owners considering a sale this year!

Financial markets are up, investments are down, crypto is all over the place! What should investors know about investing during turbulent times? Find out more from @Joe Seetoo! 👇 👇 👇

Joe is a Partner and Senior Vice President at Morton Wealth and for over 20 years has guided business owners and high net worth families through financial planning and wealth management. In this episode of the Financial Bites podcast we discuss investing during turbulent times and how investors can manage a possible recession and political turmoil. We also discuss unique new investment opportunities such as digital assets. Are you missing the opportunity to become the next #crypto millionaire! Lastly, we discuss how new investors should approach investing during a down economy.

Make sure to listen to the very end to hear Joe’s top "tip" especially for new investors!

According to a recent Statisa survey, the number of new businesses each year has increased from 560,000 in 2010 to 840,000 in 2021. So if you have a new business, what legal documents do you need? Find out from more from Janice Miller!

Janice is the Managing Partner of The Miller Laga Law Group and is an expert in providing legal counsel to both privately held and Fortune 100 companies. In this episode of the Financial Bites podcast we discuss the types of documents necessary when forming a business. We also discuss the IMPORTANCE of having a buy-sell agreement. There could be significant risk to your company that is not addressed by your standard operating agreement or bylaws! We also discuss the pros and cons of using online services for your startup. Make sure to listen to the very end to hear Janice's top "tip" for you and your business.

The cannabis industry is booming and projected revenue this year is $25B! To discuss this exciting industry I interview Steve Monacelli who is a nationally recognized expert. Steve and I discuss the unique challenges for business owners in cannabis including the infamous 280E provision of internal revenue code! Steve also shares critical insight on changes coming in the next few years. You will also want to listen to the very end of the podcast where Steve shares his "top tip" for new entrepreneurs entering the cannabis space!

According to a recent Federal Reserve study, 90% of companies with EXCELLENT financial health prepare annual budgets or forecasts. So in this episode I discuss the art of Financial Planning and Analysis (FPA) with an expert in the field, Mark Wald. Specifically, we discuss the key aspects of FPA and how it can benefit small and medium sized companies. We also discuss how FPA and traditional bookkeeping are completely different things. Mark Wald is a Managing Director of Supporting Strategies, a nationally recognized resource for finance and accounting expertise. Mark is an "innovative problem solver who values simplicity, efficiency and collaboration between people and organizations, with strong experience in financial modeling and data analytics to inform and support quick decisions on complex issues." Make sure to listen to the very end to hear Mark's top FPA "tip" for you and your business.

You have probably heard the term "Capital Gains Tax" before. Likely, it was during a discussion about selling real estate or stock. But have you wondered about what exactly Capital Gains are and how it could affect you? In this podcast I explain the concept of Capital Gains Tax, when you will have to pay it and (approximately) how much. After listening to this podcast you will understand what sales trigger Capital Gains Tax, why long term Capital Gains Tax is more favorable than short term Capital Gains Tax and the tax percentage that applies to you. With this information you will be able to analyze your personal real estate and stock sales to minimize your income tax bill!

Welcome back to my ACCOUNTING 101 series of courses! Whether you are a business owner who wants to better understand accounting and finance or a new accounting student, these courses will help develop your fundamental understanding of basic accounting. In this course I discuss the second most important financial statement for a business - the BALANCE SHEET. I explain the overall concept of the balance sheet as well as common types of assets, liabilities and stockholder's equity.

On January 1, 2022, the most significant accounting change in 40 years will go into effect for privately held companies. If you have an office or building lease, this new standard WILL affect you! Deloitte & Touche estimated the impact of this accounting change to S&P 500 companies in the trillions of dollars. Meaning there was a trillion dollar increase of total assets and liabilities on balance sheets in a 24 hour period for these companies. Are you prepared for this change? If not, listen to this podcast to get started! I will explain the new rule and how it will likely impact your financial statements.

Welcome back to my ACCOUNTING 101 series of courses! Whether you are a business owner who wants to better understand accounting and finance or a new accounting student, these courses will help develop your fundamental understanding of basic accounting.

In this course I discuss the most important financial statement for a business - the INCOME STATEMENT. I explain the concepts behind sales, cost of sales, gross profit and other important aspects of this statement.

Welcome back to my ACCOUNTING 101 series of courses! Whether you are a business owner who wants to better understand accounting and finance or a new accounting student, these courses will help develop your fundamental understanding of basic accounting.

In this course I discuss the possible reporting periods for a business. Specifically, the difference between using a CALENDAR year reporting period and FISCAL year reporting period. I also discuss the possible reasons a company would elect a fiscal year instead of the traditional January through December period.

Welcome back to my ACCOUNTING 101 series of courses! Whether you are a business owner who wants to better understand accounting and finance or a new accounting student, these courses will help develop your fundamental understanding of basic accounting.

In this course I discuss the basic accounting equation that all accounting is built upon. This is the equation of Assets = Liabilities + Stockholders Equity. In this course I discuss the concept behind this equation and how this reflects the activity of your business.

Welcome back to my ACCOUNTING 101 series of courses! Whether you are a business owner who wants to better understand accounting and finance or a new accounting student, these courses will help develop your fundamental understanding of basic accounting.

In this course I discuss the two common bases of accounting. This includes the cash basis of accounting and the accrual basis of accounting. For reference, a basis of accounting represents the manner in which you recognize activity in your general ledger.

It's that time of year! Are you preparing your own personal income tax return? If so, you need to know about the top 5 mistakes I see when helping my clients. These common mistakes include:

👉 Name or address not up to date (due to marriage, relocation) 👉 Incorrect filing status (what the heck is head of household?) 👉 Incorrect bank account or routing number 👉 Failure to report all income, especially from 1099s 👉 Missing valuable tax breaks

The American Rescue Plan Act of 2021 was signed into law and it includes SIGNIFICANT financial aid for individuals and businesses. In this podcast I discuss the 5 KEY provisions for US taxpayers.

1) New $1,400 stimulus payment 2) $300 supplemental unemployment benefits 3) An increase of the Child Tax Credit to $3,600 4) Billions of new funds for business grant and loan programs 5) $25 billion in GRANTS for restaurants to replace lost revenue

If you recently purchased an electric vehicle, you could receive Federal and State income tax credits up to $10,000. The amount of tax credit you will receive depends on several factors including the vehicle's battery size.

Other factors include the state you live in and your personal income tax bill. Further, the tax credit program is limited based on the number of vehicles sold by a manufacturer.

So you need to know which manufacturers are no longer eligible for this benefit. Thinking of buying a Tesla? If so, this affects you.

If you do your homework and maximize your tax credits, this could cut your vehicle costs by 20-30%!

Are you an investor in Bitcoin or other digital currencies? If so, congratulations! These assets are hot right now and you likely made huge gains.

But as they they in Spiderman, "with great gains comes great taxes." Ok, I may have made a small change to the original quote.

Joking aside, you do need to understand the income tax and accounting implications of your Bitcoin investment. You might not like it, but the IRS is targeting owners of digital currency.

So this analysis discusses both the income tax and accounting treatments of Bitcoin. With this information you will be able to decide the proper reporting of your financial windfall!

Welcome to my ACCOUNTING 101 series of courses!

Whether you are a business owner who wants to better understand accounting and finance or a new accounting student, these courses will help develop your fundamental understanding of basic accounting.

In this course I discuss common financial statements that you need to understand to run a successful business.

These financial statements include your balance sheet, income statement, statement of stockholders equity and cash flow statement.

If you were one of the lucky few who made A TON of money on the recent GameStop stock rally, congratulations! Great job timing the market and capitalizing on an extraordinary situation. Now you need to understand the Income Taxes that will be due to the IRS.

This video discusses the impact of both short term and long term capital gains to help you prepare for this tax bill.

Are you a influencer, blogger, podcaster, YouTuber or other Creator? First of all, if you are in the "business" of creation and earning income than congratulations: You are officially a small business! As a business owner you are eligible to deduct business expenses to minimize your income taxes.

So listen to this podcast for my "Top 10" income tax deductions for your business as a creator!

Welcome to ACCOUNTING 101!

Whether you are a business owner who wants to better understand accounting and finance or a new accounting student, this podcast will help develop your fundamental understanding of basic accounting.

In this podcast I discuss 4 basic definitions that are the FOUNDATION for your accounting knowledge.

Welcome to the first episode of the Financial Bites Podcast! Let's face it, finances, accounting and taxes can all "bite."

But in my podcasts I will break down the basics and talk about what is truly important for you. For example, paying less taxes! This podcast is produced by Social Media CPA and I look forward to starting this journey with you.