#196 Bookkeeping for Virtual Assistant Businesses with Serena Shoup

Unicorns Unite: The Freelance Digital Marketing Virtual Assistant Community

All of us are freelancers for a reason: we want freedom. We also envisioned financial freedom.

We're diving deeper into the bookkeeping, the accounting, and the expenses we can write off so that we are not paying the IRS as much at the end of the year (and keeping more for ourselves).

We're getting credit for running our business because we're already paying a self-employment tax. We might as well take off these additional write-offs so we're not penalized for making more money. But we're doing this so we face our numbers, learn our numbers, and know where we're going.

My guest Serena Shoup is a corporate CPA turned bookkeeping business CEO. She’s a mentor for other bookkeepers & accountants and a mom of 3. She built her business as a side hustle to motherhood when she left corporate to have her second daughter. She’s passionate about helping business owners become CEOs and take control of their money through her company Of Course Bookkeeping and she mentors other bookkeepers and accountants to do the same through her company The Ambitious Bookkeeper®️.

Listen in to learn more about

• taking control of your freelance finances to create greater stability
• essential steps to safeguard your personal assets and streamline your business operations
• important guidelines and good money habits
• key deductions that could potentially save you thousands in taxes each year
• strategies for standing out in your industry and commanding higher rates for your specialized skills

Serena is amazing. She actually does bookkeeping for my business. You're going to learn a lot, and if anything, your takeaway is to be empowered to put your business first and treat it as a real business and not just a hobby.

Sponsored by The Digital Marketer’s Workgroup

Already doing the work and have clients? But need more clients and a better referral network? This is your chance to get in with a tight-knit freelancer community and be a part of the behind-the-scenes conversations, encouragement, and troubleshooting that we all need when we’re working solo. We also have advanced trainings, networking opportunities, and job leads. Apply here for our Digital Marketer’s Workgroup

Links Mentioned in the Show

• I use an AMEX business credit card. I pay my contractors, software subscriptions, conferences, trainings, and Facebook ads and rack up points (I wanna go to Greece) AND create credit for my business/LLC. Apply for an American Express Card with my referral link: https://americanexpress.com/en-us/referral/EMILYR9VBI?XLINK=MYCP With your new Card, you could earn a welcome bonus and your friend could earn a referral bonus. Terms Apply.
• A must-read for all business owners: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine Hardcover by Mike Michalowicz
• My CPA recommends Relay Banking for business: https://relayfi.com?referralcode=ShoupCPA It's free and I can have multiple accounts to implement Profit First. I do a hybrid of 3 accounts: Operating Expenses, Taxes, and Profit. It makes transferring money & paying contractors easy. *Serena Shoup’s referral link.
• Hubdoc: all your bills and receipts in one place, you can import all your financial documents & export them into data you can use.

Connect with Serena:

• Instagram: @coursebookkeeping
• Facebook: Of Course Bookkeeping
• Website: https://www.ofcoursebookkeeping.com/
• Podcast: The Ambitious Bookkeeper
• Freebies: DIY Bookkeeping Guide- Learn the financial tasks every online expert should be performing. KPI Guide- 4 key financial indicators every online expert should be tracking.

Connect with Emily:

• Facebook Community: Emily’s Unicorn Digital Marketing Assistant Lab
• Instagram: @emilyreaganpr
• Facebook: @emilyreaganpr

3 ways we can work together:

1. Get on the waitlist for the Live Unicorn Digital Marketing Assistant School. My signature course on digital marketing implementation will give you the confidence and teach you HOW to do the work that’s in demand and highly marketable. This is the secret weapon to getting booked out. Or get started now with the Self-Study version of UDMA School here.
2. Got the skills but need help getting your digital marketing services business to take off? I’ve got an advanced tight-knit referral and networking community that can help and I would love for you to apply here for the Digital Marketing Workgroup. You’ll get the latest updates and trainings, networking opps and job leads from online business owners who are looking to hire digital marketing implementers and assistants.
3. Looking for a fast way to get your foot in the door with up-to-date skills? Take my 2-hour Quickstart to Facebook Community Management workshop and learn how to help online business owners like course creators and membership site owners manage and engage their community

>>> Download my Top Ten Most Requested Digital Marketing Tasks & Services