Must Know Updates to Venmo and How to Find an Accountant with Michelle Cook of Small Business CPAs

Let’s talk accounting and payment processors! A recent Venmo change has some beauty pros freaking out about monies earned from Venmo transactions now being reported to the IRS by Venmo if more than $600 is processed using Venmo. To help you get clarity on what this actually means for your business if Venmo is one of the payment processors you’re using in your business as well as understanding must have accounting processes for your 2022 - I brought on a new friend of mine, Michelle Cook of @smallbusinesscpa to chat all things Venmo and accounting best practices.

Michelle is a beauty school graduate turned licensed CPA. As a partner at Carter Cook, CPAs, she specializes in guiding beauty professionals to move beyond compliance and into forward-focused strategy. Michelle also empowers beauty professionals to be the financial expert in their business through her course, Beauty Bookkeeping. When she's not helping clients maximize profit, you'll find her snuggling her two babies and drinking lavender tea.

If you’d like to get up to 55% off of your first 3 months of Quickbooks - use my link www.thelashpreneur.com/quickbooks.

If you’d like to register for one of my Free Overlooked to Fully Booked Masterclasses, you can find an upcoming class time that works for your schedule here: www.thelashpreneur.com/masterclass. Here is the link where you can find Michelle's Beauty Bookkeeping Course - www.cartercookcpas.com

Episode Highlights:

[3:47] - The changes with Venmo you need to know starting this year [8:25] - The importance and benefit of honestly declaring your business income [11:30] - Accounting best practices for business starters [14:16] - The difference between a bookkeeper and an accountant [18:40] - Questions to ask when hiring an accountant

 

Happy business building!

Have a good one!