EP28: How to do Financial Compliance

summary:
In this episode, Sonja Jones discusses the importance of compliance for entrepreneurs. She covers monthly, quarterly, and annual tasks that entrepreneurs should be aware of. Monthly tasks include bookkeeping, reconciling bank accounts, and managing accounts payable and accounts receivable. Quarterly tasks involve reviewing income patterns and forecasting for the rest of the year. Annual tasks include filing tax returns, issuing W-2s and 1099s, and maintaining compliance for non-profits. Sonja also introduces GIP Academy, an online community that provides bookkeeping support for entrepreneurs.

takeaways:

• Entrepreneurs need to prioritize compliance tasks on a monthly, quarterly, and annual basis.
• Monthly tasks include bookkeeping, reconciling bank accounts, and managing accounts payable and accounts receivable.
• Quarterly tasks involve reviewing income patterns and forecasting for the rest of the year.
• Annual tasks include filing tax returns, issuing W-2s and 1099s, and maintaining compliance for non-profits.
• GIP Academy is an online community that provides bookkeeping support for entrepreneurs.

Chapters:
00:00 - Introduction: The Importance of Compliance for Entrepreneurs
02:36 - Monthly Tasks for Financial Compliance
12:13 - Quarterly Tasks for Financial Compliance
21:34 - Annual Tasks for Financial Compliance
28:29 - Introducing GIP Academy: Bookkeeping Support for Entrepreneurs

Financial Freedom Roadmap:
https://go.gipfinancials.com/financialfreedomroadmap606792

Purchase the Business Finance Blueprint: https://buy.stripe.com/5kA03O4N00y6gog3cc

compliance, entrepreneurs, money tasks, monthly tasks, quarterly tasks, bookkeeping, bank accounts, accounts payable, accounts receivable, reporting, profit and loss, balance sheet, cash flow statement, forecasting, estimated income tax, payroll taxes

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