Hannah, your channel does a real service to the public. Good info!
@ClaraCFO2 ай бұрын
Thanks! I appreciate that statement! I sure hope so! That’s the goal 🙌
@AngelBooksForYou2 ай бұрын
Your videos are the best. Thank you for doing them. They are very informative and I have learned a lot from you. Thanks for being vulnerable too. Nobody is perfect!
@ClaraCFO2 ай бұрын
Ain't that the truth! Thanks for watching and being here!
@juliestarkel25612 ай бұрын
Thanks so much for your videos Hannah! So so helpful for business owners who 'do it all' and don't have a finance team! And on a different note, I should have been an accountant.
@ClaraCFO2 ай бұрын
Ha! It's never too late Julie!!
@debrathompson5542 ай бұрын
Please talk about a business owner having an S-Corp and how it flows onto the personal tax return and how the owners tax bracket is how the S-Corp is taxed, how to reduce tax bracket
@ClaraCFO2 ай бұрын
Well, you will be in a lower tax bracket if you make less money, but that's not what I generally recommend :) But I think I get the gist of what you are trying to say! I am not a tax CPA, so I won't do many videos about tax strategy. But I can explain some concepts!
@chrisallen9303Ай бұрын
You do such a great job, you learn, we all learn ;) Thank you for everything.
@savvyAKAgyrl14 күн бұрын
I just found your channel and this video was extremely helpful! Thank you! I will check out more of your videos.
@ClaraCFO6 күн бұрын
Awesome! Thank you!
@proposability2 ай бұрын
Can you please provide insight into how to analyze the owners equity section to determine how much money the owner can take out of the business both from a current year and from prior year perspective? Should owners be taking draws every year? Would love to hear you speak on this
@MiDiosPoderoso2 ай бұрын
Thank You😊
@ClaraCFO2 ай бұрын
Thanks for watching!
@Ockv742 ай бұрын
❤❤❤
@sethabathabamorganramaili27832 ай бұрын
Hi Clara I am also following your videos very well and loved 😍. Please try to include us in South Africa where we have different entity types than the one you refer. 😢
@sethabathabamorganramaili27832 ай бұрын
Cima enrolled with a start-up company
@ClaraCFO2 ай бұрын
Oh yes - this only applies to US companies! I hope someone in SA will do videos like this to help SA businesses!
@dailymomentum2 ай бұрын
Awesome videos ❤
@ClaraCFO2 ай бұрын
Thanks!
@unikovida66452 ай бұрын
Open communication Radical transparency Harmonious like minded group
@ClaraCFO2 ай бұрын
🙌
@relaxedclub94252 ай бұрын
if she made 50,000 profit, & withdrew 60,000, how was that possible? Where did the 10,000 come from?
@RedshitDesert2 ай бұрын
Did your business have any loans? You could have excess cash from a credit card loan for example
@ClaraCFO2 ай бұрын
It was most likely cash that was already in the business from prior year earnings. It could also have been from borrowed funds.
@proposability2 ай бұрын
@@ClaraCFO If the additional draw was from prior period profit (retained earnings) wouldn't that cash have already been taxed? Also, can you speak more to negative equity? Thank you
@SaquibHasan-si7pe2 ай бұрын
Hi Clara can you answer my question relating to payroll
@ClaraCFO2 ай бұрын
what question?
@SaquibHasan-si7pe2 ай бұрын
@@ClaraCFO I am using QBO Advanced and recently acquired ADP for Payroll. Both have been connected. Now my concerned is related to Chart of Accounts mapping. My question is that a single expense account named Payroll Tax Expense in QBO is sufficient for all four types of Employer Taxes (SUTA, FUTA, FICA SS, FICA Medicare) in ADP or we need to make 4 separate expense accounts in QBO as the granular detail & reports will be available on ADP. Similar is the case with Employee taxes withheld, is a Single Tax Payroll Liability account in QBO enough for Employee taxes (FI, SI, FICA SS, FICA Medicare) in ADP. Now if we create separate accounts there will be numerous bank feeds to be matched every time payroll is run, also the details will always be fetched from ADP so what's is your expert advise on this? should a single account be linked to ADP or multiple accounts need to be setup.