Cocktails & Capital: Recent Episodes
Tatum Accounting
Cocktails & Capital is where female entrepreneurs come to get real life advice about their finances. Not vague theories and tips like “skip the starbucks”. We want to know specifically how to set our finances up better for ourselves and our businesses.
Resources:
Strong Not Sorry
Profit First for Microgyms
Profit First Book
Strong Not Sorry Instagram
Tatum Accounting
Our Blog
Some may think it’s hard to have a career as a military spouse, but Katie with Love & Lettering used it to her advantage after COVID. Tune in to hear how she took a leap of faith and balances her business while working at home.
Resources:
Love and Lettering Instagram
Spouse-ly
Tatum Accounting
Our Blog
And that’s a wrap on 2023! For 2024 I’m taking a SMART approach—think Specific, Measurable, Attainable, Relevant, and Timely goals. I’m swapping broad targets for specifics, like nailing savings goals instead of chasing revenue numbers.
It's all about keeping it simple yet awesome for the coming year, embracing challenges with self-compassion. Join me and set your 2024 goals with a side of balance and self-care!
Resources:
Tatum Accounting
Our Blog
Join me and my very good friend Carrie Robertson, owner and operator of Peanut City Candle Company. Where we get a behind-the-scenes look at how she started her business and the challenges that come with it
Resources:
Peanut City Candle Company
Tatum Accounting
Our Blog
My obsession with true crime mixed with my love for accounting gave me a brilliant idea for a new podcast series all about fraud cases
So I would like to introduce the first episode of the new series, the Luckin Coffee case. How fast can a coffee company take over China? Listen to find out their big secret.
Resources:
The Story Behind How Luckin’s Fraud Was Discovered
The Luckin Coffee Scandal and Short Selling Attacks
China’s Luckin Coffee to pay $180 Million to settle Fraud case CNBC
Tatum Accounting
Our Blog
Come chat with me and my friends at MediaBooks Agency. This is a behind-the-scenes look at how I market and how the brand of Tatum Accounting came to be.
Tatum Accounting
MediaBooks Agency
Our Blog
You may have heard of the capsule wardrobe, an easy yet stylish way to get ready in the morning. Right?
Why wouldn't we use the same guidelines for running a business?
Introducing the capsule office guide. All the tools you will absolutely need to run your business on a budget, without losing any of the style.
Resources:
Wave
HoneyBook
Square
Stripe
SquareSpace
Zapier
Asana
Slack
Trello
Planoly
Gusto
Otter
Our Blog
Everyone take your seats because class is in session. Today, we’re talking all things sales tax.
This is such an important topic for all business owners, whether you’re selling products or providing services. From filing to nexus and everything in between there is a ton of information here so grab a notebook, a pen, and let’s get started.
Resources:
What is Sales Tax? Thomson Reuters Article
How to Determine Your Business Owes Sales Tax
Tax Jar: Sales Tax Site
Origin vs. Destination
Is Shipping Taxable?
Our Blog
So you want to hire a bookkeeper or maybe you already have, but how do you know that your bookkeeper is a good one
In this episode, we will talk about the good, the bad, and the ugly—bookkeeper edition.
Resources:
Episode 6: Do Not Skip These Monthly Bookkeeping Steps For Your Business
Monthly Bookkeeping Checklist
Our Blog
I know that running a business isn’t always sitting at a desk and taking calls.
Sometimes it involves driving and running errands and those miles add up!
In this week's episode, we are going to talk about the mileage deduction and how your business can benefit from it!
Resources:
Episode 32: New Business Owner? Here’s the Business Taxes cheat sheet
Your Guide to Optimizing the Travel Deduction
Tax Deductions Small Business owners shouldn’t forget
Our Blog
Wow, I can’t believe we’re halfway through the year already.
We have a lot of updates and news to share so let’s pull back the curtain once again.
So grab your gin and tonic or your coffee and let’s chat. I have missed yall.
Resources:
Episode 28: How to Reverse Engineer Your Money Goals
Episode 29: Behind The Curtain: My 2022 Review
Episode 11: Candid Lessons I Learned in Business
Episode 1: How to Transition From a Side Hustle to a Full-Time Business Owner
3 Areas Business Owners Neglect When Growing Their Business
5 Things Every Small Business Owner Needs
Office Hours
Our Blog
New business owner? I’ve got the ultimate business taxes cheat sheet. Just for you.
It’s no secret that one of the hardest parts of starting your own business is figuring out what taxes you need to pay and when.
And how.
And how much.
The list goes on.
In this episode, I break down that list, how business taxes are different than personal ones, and how the heck to manage it all.
Resources:
Episode 03: TikTok Terrors That Lied to You
Episode 04: Why Are You Paying More (or less) in Taxes Than You Expected
A Simple Guide to Freelancer Taxes
What every small business owner needs to know about quarterly taxes
How Estimated Quarterly Taxes work
Strategies for dealing with sales tax
Office Hours
Our Blog
I hate to be the bearer of bad news, but that recession everyone keeps saying is coming?
Yeah, it’s coming. But before you go full on doom spiral, take a breath. We’ve faced pandemics, inflation, TikTok AI filters turning you into The Scream instead of the Mona Lisa - and we’ve made it through.
So this week’s episode of Cocktails & Capital is about facing the recession and choosing to grow!
Resources:
Ep 30: Can You Afford an Employee? Do This!
What Business Owners Need to Focus On Right Now Article
How Do You Know if You Can Grow Your Team Right Now Article
The 3 Tips on Growing a Team
Office Hours
Our Blog
Are you thinking of taking the plunge and hiring an employee?
It can be a daunting prospect - you’ll need to think about things like wages, benefits, and the legal implications of having someone on your team.
In this episode, we’ll explore the costs associated with hiring and retaining an employee, how to determine if you have the budget to afford an employee and some tips on onboarding.
Tune in to learn how to assess if you can afford to hire an employee, and what you should do if you’re ready to take the leap!
Resources:
IRS Guidelines
Society for Human Resource Management
Things to Consider Financially
Things to Consider HR Wise
Things to Consider Operations Wise
What You Can Do to Prepare Financially
Office Hours
Our Blog
Let’s talk - business owner to business owner.
Want to know how my 2022 went?
I get pretty vulnerable in this episode as I walk you through each quarter of Tatum Accounting. Lessons I learned, what went right, what went wrong, and how I am making sure 2023 is going to be my best year yet.
Give it a listen and let me know how your 2022 went.
Resources:
Year-End Close Out Webinar
Office Hours
Our Blog
Please, please, please, tell me you set some financial goals for 2023. Well, if you haven’t yet, you’re in luck!
In this episode, we'll talk about the best way to create and achieve money goals - Reverse Engineering. We'll discuss what should be considered when making money goals, understanding what your actual goal is and where you currently stand.
Key Terms to know:
Your Actual Goal. This is where you want to be—your end state. It’s where you would consider your goal achieved. If you set a goal to pay off your credit card, this would be when you’re finished paying it off.
Your Starting Point. This is where you are right now. Again, if your goal is to pay off a credit card, this is the amount you have on your credit card at this very moment.
Your Method. This is the journey you are taking to realize your goal—the steps you are taking to change your financial situation.
Your Milestones. Milestones are little markers along your journey that remind you of how far you’ve come. They are almost like mini-goals where you can celebrate and reflect on what’s going well and what’s not going well. If you’re paying off $5,000, you might consider every $1,000 paid off as a milestone.
Resources:
Year-End Close Out Webinar
Office Hours
Our Blog
Got your 2022 accounting records all organized but just wish you had an accountant to tell you what they all mean? I have maybe the next best thing.
This week, I am walking you through the process of reviewing your 2022 finances.
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What should you be doing first?
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What should you be looking for?
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What do we even do with all this information?
Resources:
Cocktails & Capital: Ep 16
Office Hours
Our Blog
In years past, I’ve found that I spend a TON when it comes to the holidays. Travel, presents, and extra hot cocoa from the cute stand at the Christmas market.
But racking up credit card debt is no way to start the holiday season.
In this episode, I’m talking about how I am enjoying the holidays but still saving big money.
Resources:
1099 Handout
1099 Package
Office Hours
Our Blog
I’m talking about ALL things taxes. Don’t worry, I’ll make it fun!
Taxes might not be the most fun thing to talk about but as we’re going into 2023 it’s important to be prepared so we can run our businesses compliantly.
In this episode, I go over the different kinds of taxes, the difference in paying personal versus business taxes, and when a business owner can expect to pay each one.
Resources:
What is franchise tax?
What states have franchise tax?
Tax Jar's state chart
1099 Handout
1099 Package
Office Hours
Our Blog
In this week’s episode, I am chatting about the accounting tasks on your business to-do list that you should really get done before that ball drops on New Year’s Eve.
Resources:
End of Year Checklist Image
Year-end Accounting Checklist Article
1099 Handout
1099 Package
Office Hours
Our Blog
Are you being treated like an employee instead of as a contractor?
In this week’s episode, we are diving deeper into the ABCs of independent contractors, no really, I’m literally talking you through the ABC test which you can use to help determine your worker status.
A - Absence of control
B - Business of worker
C - Customarily engaged
Resources:
The Complete List of Worker Classification Tests By State Article
1099 Package
Office Hours
Our Blog
Giving back to our community is something we are BIG about here at Tatum Accounting. One way we like to do that is by shopping local and supporting small businesses.
In this week’s episode, I share 4 ways you can support small businesses during the holiday season.
Be sure to listen till the end for a few of my favorite businesses I like to support.
Resources:
How to Give Back During the Holidays as a Small Business Article
Peanut City Candle Co
Love & Lettering by Katie
Project Seed Coffee
The Italian Cellar
Edjacent
Office Hours
Our Blog
With 2023 quickly approaching, we want to make sure we are looking ahead and setting goals for the new year. In order to set effective goals, you’ll need to take a good look at your previous year.
That’s where analytics comes in. In today’s episode, I go over all the different KPIs I track in my business and how you can implement them into yours.
Be sure to check the resources below for the analytics apps I recommend.
Resources:
Office Hours
Relay
Syft Analytics
Spotlight Reporting
Wave Financial
Our Blog
When you are ready to hire your first contractor as a business owner, you are probably focused on how that person will fulfill the needs of your company. They’re here to help you after all!
But in order for you both to meet the goals of your growing business, you’ve got to set up proper expectations, boundaries, and communication.
The onboarding process does just that.
In this episode of Cocktails & Capital, I talk all things contractor onboarding.
Resources:
Office Hours
Episode 19
3 Ways to Make Onboarding Contractors Easier Article
Top 9 Apps for Independent Contractors
Tax 1099
Melio Payments
Our Blog
At Tatum Accounting, you know we like to prioritize self-care, relaxation, and taking regular vacations.
But when you are a solo business owner doing all the things - that can be so hard.
That’s why hiring help is so important. And hiring the right way even more so!
In this episode, I talk about the differences between an employee and a contractor and why I recommend choosing an independent contractor for your first hire as an entrepreneur.
Resources:
1099 Webinar
Office Hours
Questions to Ask Before Hiring Independent Contractor
Our Blog
Can your accounting really make your clients happier? Absolutely!
In this episode, I go into all the ways that accounting and checking your financial statement on a regular basis can help improve the relationships with your clients.
Resources:
Office Hours
Our Blog
Last week we talked all about budgeting but what about when your income is inconsistent?
There are 3 different budgeting strategies that I recommend and I explain each one in this week’s episode.
Each budgeting strategy has its pros and cons so you’ll want to take a look at how your business operates to decide on which strategy would work best for you and your business.
Resources:
3 Ways to Budget When Your Income Frequently Changes Article
Profit First
Our Blog
Is a budget one size fits all?
No, absolutely not.
So let’s talk budgeting. How do you even build a budget and what are a few reasons why your budget may not be working for you? I’ll also walk you through the steps you should take when building your budget.
You don’t want to miss this.
Resources:
The 4 Different Budgeting Strategies & What’s Right For You Article
12 Reasons Your Budget Isn't Working Article
Create a Small Business Budget in 5 Simple Steps Article
Our Blog
Every great business owner knows the importance of setting goals for themselves. It helps us measure progress and make sure we are on the right trajectory. Profit margin is one of those KPIs that we should keep our eye on.
In this episode, I talk about all things profit margin; why is it important, what it tells you about your business, and how you know if you have a good profit margin.
Resources:
Our Blog
Let’s talk financial habits.
In this episode, I talk all about what good financial habits look like, some common myths, and the four habits every profitable and financially stable business owner should have.
Resources:
The 7 Financial Habits Article
Bad Money Habits To Drop Article
Our Blog
In this episode, we’re talking about all things inventory. I go over what even is inventory, what goes into it as far as your financial statements are concerned, how and where you even track it, my favorite apps to use and so much more!
Today, we also had 2 furry special guests so be sure to check out this week’s episode on YouTube.
Resources:
Benefits of Inventory Management Article
13 KPIs to Consider in the Shipping Industry Article
Consequences Of Not Having Inventory Management Article
Best Inventory Management Apps
Zoho Inventory
Square Retail
Sortly
Our Blog
I want you to sit and think about all the possibilities for your business if you were to start receiving more income.
Suddenly everything seems possible, right?
Well, one of the ways you can increase your income is by increasing your prices. In this episode, I talk about some signs that it’s time to raise your prices, how much to do it by, and what strategies you can use.
Resources:
Episode 07: 3 Things You Are Wasting Your Money On
Episode 09: 6 Strategies For Increasing Your Revenue
Blog Post: How to Price Your Products/Services
Forbes Article
Entrepreneur Article
Our Blog
I can’t believe it’s been almost 3 years since I started Tatum Accounting!
In this episode, I talk about some of the lessons I’ve learned in the first few years of running my business. I also share what I think the holy grail of statements is so make sure you tune in.
Resources:
Society for Human Resource Management
Send us an email
Our Blog
Are you a product-based business owner? Then this episode is for you!
Today, I talk about ALL of the costs you can expect when selling products online, and more importantly, how you can save some money. I also explain the difference between costs of goods sold and expenses.
So grab your favorite cocktail and let’s get into it!
Resources:
Episode 09
Our Blog
In today’s episode, we talk about all things revenue. What are some signs you may need to increase your revenue? How do you know whether it is a revenue problem or an expense problem?
I share different tips and strategies you can incorporate into your business to help grow your revenue.
I also answer a couple of follow-up questions you may have so make sure you listen until the end!
Resources:
Episode 05
Episode 07
Revenue Growth Rate
4 Methods to Increase Revenue - The Personal MBA
How to Increase Prices Without Losing Customers, According to a Harvard Lecturer - NetSuite
Our Blog
Fall is right around the corner which means that this is the perfect time to start looking at your product line. See if you want to add some new products or take out some products that are not doing as well.
In this podcast episode, I talk about the factors you should be thinking about in your product-based business as we start heading into fall and the holidays.
Resources:
Our Blog
We’re back with Season 2! After some much-needed time away, I am back and delving right into the real problems businesswomen just like you are facing.
How often do you review your income statement expecting to see substantial profits, only to be surprised by how much you spent? As business owners, we put so much focus on sales and growth, but it’s easy to overlook how much we’re spending in the pursuit of these goals.
In this episode, I tell you about the three areas in your business you are wasting money on and how to cut back expenses while getting the most bang for your buck.
Resources:
Monthly Checklist
5 Bookkeeping Mistakes Messing Up Your Revenue
Our Blog
You know bookkeeping is important and even read a few articles to make sure you are doing it right but does something still feel...off?
In this podcast episode I reassure you with the steps you MUST consider to ensure a complete bookkeeping process each month.
Resources:
What is bookkeeping & why is it important
Monthly Checklist
How to build a forecasting report for your revenue
Business owners wear many hats and a lot of these we put on ourselves….meaning it’s self taught. Some areas we may enjoy learning about like marketing or process development.
Other areas, like accounting, can actually be super stressful for business owners. Turns out this podcast episode is the perfect place to start. In this episode I break down the most important need to know items for business owners trying to figure out their accounting.
Resources:
Cocktails and Capital - Episode 4
Chart of Accounts Definition
Wave
5 Reasons Entrepreneurs Should Know Accounting
Reconciling bank accounts each Month
IRS: How Long Should Small Businesses Keep Records
What to Look For In A Bookkeeper
IRS: How Long Should Small Businesses Keep Records
You have submitted your tax return and made your payment but you are still left with some questions. Why did you pay so much more this year? Or less?
What is going to happen next year when your salary increases once again? These are just a few questions you may be left with and in this podcast episode I answer some of the post popular post-tax return FAQs.
Resources:
Home Office Deduction 101
Profit First
Where’s My Refund - IRS Website
Social media is useful for so many things. It is also the cause of a lot of problems, like bad tax advice. Today we are discussing some of the most common Tik Tok videos in your feed promising you big tax savings but are potentially...fraud?
Give it a listen to make sure you aren't making any of these big mistakes.
Resources: https://www.tatumaccounting.com/articles/home-office-deduction-101
https://www.indinero.com/blog/nondeductible-business-expenses
https://bench.co/blog/tax-tips/travel-expenses-deductible/?blog=e6
There is no doubt as a woman business owner you have come across some of these finance myths that may be holding you back. So in today’s episode I debunk some of those myths in hopes that they help you move forward with your business.
Be sure to leave us some feedback - any myths we didn’t cover?
The great recession has caused everyone to rethink how they work. If you are one of those people you may not just be considering a change in companies but a change in job titles - like business owner?
Starting your own business is an exciting undertaking but the finances can possibly be the most stressful part. But I got you. In this episode I talk about what to expect during your transition and how you can ease the financial stress.
Resources:
Write Your Business Plan
Cocktails & Capital is hosted by Sarah Tatum, owner of Tatum Accounting. In this podcast, Sarah shares real accounting and finance advice that helps business owners achieve both their personal and business goals.