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Keep What You Earn — Business
Keep What You Earn

Keep What You Earn is the podcast for aesthetics and wellness practice owners who want to scale profitably and build a business that is actually worth something.

Hosted by Shannon Weinstein, CPA and Fractional CFO, this show is designed for med spa owners generating $1–5M in revenue who are ready to move beyond reactive decision-making and into disciplined, strategic growth.

If you’re trying to break past the $2M ceiling, improve cash flow predictability, increase margins, open additional locations, or prepare your practice for a future sale, this podcast gives you the financial clarity to do it confidently.

Each episode focuses on the financial building blocks that determine whether your practice scales smoothly or stalls under pressure, including pricing discipline, operating margin control, cash flow forecasting, customer lifetime value, and enterprise value planning. This isn’t about more spreadsheets. It’s about financial leadership.

Whether you’re preparing for expansion or positioning your practice to sell, Keep What You Earn helps you think like a CFO and operate like a CEO.

[Disclaimer: Any opinions, recommendations, and tips offered on this podcast or other social media forums do not constitute individual tax or accounting advice. This content is designed to provide education and awareness about financial topics and responsibility for the benefit of the general public. Please consult a professional before implementing any of the suggestions made by Shannon or Keep What You Earn Co.]

Copyright: © 2021 All rights reserved Fitnancial Solutions.

Latest Episodes:

What a Fractional CFO Can Do For Your Business with Staci Millard Sep 19, 2023

Show notes

I always love chatting with fellow fractional CFOs and today is no exception. I am joined by Staci Millard, a CFO from Canada who is a fellow entrepreneur and has already exited her business. We discuss common trends we see with business owners and how to avoid major missteps in your path to scaling.

Staci Millard is a mom of 2 and multi-passionate entrepreneur. She grew and sold her first seven figure business business before she was 35 while raising her daughters. She prides herself not only on her own experience growing a business but also the thousands of small businesses she's helped over the past 15 years. She believes in three non-negotiables for every successful business- making money, heart-led impact on those we serve, and having a great life because of our businesses not in spite of it. Staci now works as a fractional CFO and business mentor for entrepreneurs helping them scale and have the success she knows we can all achieve.

Connect with Guest:

Website: stacimillard.com

Instagram: https://www.instagram.com/staci.millard/

What you'll hear in this episode:

[3:23] Staci talks about her background and the types of clients she serves.

[7:16] What are some of the biggest misconceptions about what fractional CFOs do or don't do?

[10:34] Staci discusses challenges she has helped business owners overcome.

[14:10] How to decide if an investment in yourself or your business is worth the expense?

[17:49] How a fractional CFO keeps your money focused on your business goals.

[30:16] Staci shares client successes.

If you like this episode, check out:

Questions to Ask Yourself as a CEO

Why You Want to Build a Sellable Business

Get Back In The Driver's Seat Of Your Business Finances

Want to learn more so you can earn more?

CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

How to Hold Your Accountant Accountable Sep 18, 2023

Show notes

It may be hard to believe, but your accountant is human too. They may make mistakes or miscommunicate with you and it can lead to a significant financial impact. Today, I share the ways to make sure your accountant is living up to their promises and how to communicate effectively with them to ensure success for everyone.

What you'll hear in this episode:

[0:35] If you are feeling uncomfortable with the services you are currently getting from your accountant, what should you do first?

[3:06] I discuss how to evaluate your accountant without undermining them.

[4:44] Your accountant made an error. What should you do?

If you like this episode, check out:

Differentiating Between Margin and Markup

You Accomplished Your Goal. What's Next?

What Your Numbers Are Trying to Tell You

Want to learn more so you can earn more?

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Should I Hire Contractors or Employees? Sep 15, 2023

Show notes

Ahh, the timeless dilemma: the choice between hiring employees or contractors for your business. In this engaging podcast episode, our expert delves deep into the factors that influence this decision.

With a wealth of practical insights, you'll gain a clear understanding of the tax implications, levels of control, cultural considerations, and growth strategies associated with both options.

What you'll hear in this episode:

[1:27] What is the difference between a contractor and an employee?

[3:44] Review of tax implication and legal consequences of each option.

[6:19] 2 reasons I am shifting from contractors to employees.

https://howtohiretoptalent.com/

If you like this episode, check out:

Hiring Employees vs. Contractors with Jackie Koch

How to Manage Remote Teams

Financial Metrics to Know for Service Based Businesses

Want to learn more so you can earn more?

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

How to Use Cost Segregation for Real Estate Tax Savings with Sean Lichterman Sep 14, 2023

Show notes

Get Ready to unlock the power of real estate investing and save big on taxes.

The game-changer known as Cost Segregation is like equipping your commercial property investments with a turbocharged engine, propelling your deductions to new heights.

Don't let your hard-earned dollars gather dust in the IRS vault. Instead, seize the power of Cost Segregation and reduce your tax liability. It's time to dominate the game of wealth creation and conquer the world of CRE investing!

Get Ready to unlock the power of real estate investing and save big on taxes.

The game-changer known as Cost Segregation is like equipping your commercial property investments with a turbocharged engine, propelling your deductions to new heights.

Think of it as a strategic tax playbook that dissects your property into its finest components. You'll fast-track your write-offs and keep more money in your pocket by identifying shorter depreciation schedules for items like flooring, fixtures, countertops, and much more. Plus BONUS Depreciation!!!

Don't let your hard-earned dollars gather dust in the IRS vault. Instead, seize the power of Cost Segregation and reduce your tax liability. It's time to dominate the game of wealth creation and conquer the world of CRE investing!

Now, let's switch gears from numbers to fun! When I'm not crunching tax figures, you'll find me cherishing precious moments with my awesome family, hunting down the perfect slice of pizza (seriously, it's an obsession!), or riding the waves on my wakeboard.

Connect with Sean:

https://everythingcostsegregation.godaddysites.com/

What you'll hear in this episode:

[0:50] Who is Sean and what does he specialize in?

[2:28] What is cost segregation?

[3:50] How to use cost segregation to maximize tax savings.

[5:58] Who is the best candidate for utilizing cost segregation?

[13:17] Cost segregation and W-2 income.

[22:01] Is cost segregation retroactive or do you have to utilize this tax savings when you first purchase property?

[25:37] How to leverage cost segregation to build generational wealth.

If you like this episode, check out:

Protecting Your Legacy Through Estate Planning with Clara Delgado Rossell

Positioning Yourself Well for a Tax Strategist with Grant Dougherty

How Do I Know if I Need to Collect and Pay Sales Tax?

Want to learn more so you can earn more?

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Asset vs. Expense: Understanding the Difference Sep 13, 2023

Show notes

Explore a vital question often overlooked: Assets vs. Expenses.

Discover tax-saving strategies by distinguishing between them. Learn how categorizing expenses as assets can ease tax burdens.

What you'll hear in this episode:

[1:25] Defining Business Expenses

[1:56] Understanding Business Assets

[3:00] Tax-Friendly Expense Spreading

[4:50] Safe Harbor Threshold Explanation

[6:15] Maximizing Tax Deductions through Understanding

[7:09] Unveiling Intangible Business Assets

If you like this episode, check out:

Take Advantage of an Accountable Plan in Your Business

3 Steps to Hire Your Kids the RIGHT Way

Protecting Your Legacy Through Estate Planning with Clara Delgado Rossell

Want to learn more so you can earn more?

Business Financial Quickstarter: https://www.keepwhatyouearn.com/bfq

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

How AI is Changing Your Business's Present and Future with Jim Carter Sep 12, 2023

Show notes

Have we even begun to grasp the potential of AI technology? I don't think so, but I also don't think we even know where to start. That's why I called Jim! After this conversation, I left feeling so energized by all of the ideas on how to use this technology in our practice and I know you'll feel the same. Grab a notebook and your Asana board and let's go.

Jim Carter III, a seasoned founder, Fortune 15 consultant, and AI strategist, has a successful history of scaling 7-figure businesses in tech and content. Specializing in AI, he advises brands on leveraging content and technology for growth, and mentors entrepreneurs through his Fast Foundations Mastermind. With his passion and expertise, Jim simplifies complex challenges, empowering entrepreneurs to harness AI in their everyday operations.

Connect with Guest:

http://jimcarter.me/

@causehacker

Sign up for newsletter: http://jimcarter.me/top3tuesday

What you'll hear in this episode:

[1:27] Introduction to Jim.

[5:03] Deeper dive into Jim's background and what he does.

[8:16] The release of Chat GPT and how it amazed even those in the technology industries.

[14:28] How is AI already integrated into our lives?

[17:45] Jim Carter dives into use cases and examples for business owners to utilize AI.

[24:55] Fear around AI replacing your job.

[28:44] What is the difference between Chat GPT and AI as a whole?

[40:00] Using GPT with Excel or Google sheets.

If you like this episode, check out:

Will Artificial Intelligence Become Your Accountant?

Revenue Goals That Actually Move the Needle

Ways to Increase Revenue If You Hate Sales

Want to learn more so you can earn more?

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Visit keepwhatyouearn.com to dive deeper on our episodes

Visit keepwhatyouearncfo.com to work with Shannon and her team

Watch this episode and more here: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

Connect with Shannon on IG: https://www.instagram.com/shannonkweinstein/

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Become a Money Queen with Bridgette Boucha Sep 11, 2023

Show notes

The subject of money conjures up a lot of emotions, including shame, insecurity, guilt, and stress. The good news is that it doesn't have to be that way. Join me for this episode with my pal and fellow fractional CFO, Bridgette Boucha to discuss the money habits and rituals that will help you step into a mindset of abundance in your business and eliminate fear.

Bridgette Boucha (boo-shay) is a speaker, writer and fractional CFO who advises from her lived experiences as an entrepreneur. Her soulful approach to money mentorship and personal empowerment has helped hundreds of business owners simplify their money, build confidence in their numbers and map out their profitable business, fuller life model.

Check out her new book, MONEY QUEEN: A Simple Financial Framework for Soulful Entrepreneurs to Run a Profitable Business While Living a Fuller Life

https://www.amazon.com/MONEY-QUEEN-Financial-Entrepreneurs-Profitable/dp/1737828367/ref=sr_1_1?crid=ZZZXSM6LARCG&keywords=money+queen+bridgette+boucha&qid=1693443520&sprefix=money+queen+bridgette+boucha%2Caps%2C153&sr=8-1

What you'll hear in this episode:

[2:49] Bridgette explains what her typical client is.

[6:45] What are rituals and how to establish them around money in your business?

[12:43] Bridgette describes the audience of her book Money Queen.

[18:04] What is your money story and how to identify it?

[19:31] How to come up with pricing structure for your business.

Connect with Guest:

Instagram: https://www.instagram.com/bridgetteboucha/

Instagram: https://www.instagram.com/financialunicrowns/

LinkedIn: https://www.linkedin.com/in/%F0%9F%92%B5-bridgette-boucha-%F0%9F%92%B5-cfo-for-entrepreneurs-2ab3559/

Website: https://www.bridgetteboucha.com/

* Related episodes:

Will Artificial Intelligence Become Your Accountant?

How to Manage Rapid or Unexpected Growth

How to Manage Remote Teams

Tactical Resources:

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry

See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

Additional Resources:

Find everything you need at https://www.keepwhatyouearn.com

Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

Hire us: https://www.fitnancialsolutions.com/accounting

Find me on IG https://www.instagram.com/shannonkweinstein/

Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Building Systems Based on Problems Sep 08, 2023

Show notes

Drawing from my time at a big four firm, I introduce the "What Could Go Wrong" methodology, a pivotal lesson that's reshaped my business approach. In this episode, I explore how this concept can preemptively tackle challenges, from email campaigns to landing pages. By understanding and anticipating issues, we can craft bulletproof systems, ensuring our customers always feel supported. Dive in to learn more about creating robust business processes

What you'll hear in this episode:

[1:53] What is audit methodology?

[2:30] WCGW - What could go wrong? What is it and how did I implement this into my business.

[4:28] Anticipate what could go wrong and building systems around that.

[8:09] Building a follow up campaign.

* Related episodes:

What Traits We Look For in a Client

Ways to Increase Revenue If You Hate Sales

Financial Metrics to Know for Service Based Businesses

Tactical Resources:

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry

See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

Additional Resources:

Find everything you need at https://www.keepwhatyouearn.com

Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

Hire us: https://www.fitnancialsolutions.com/accounting

Find me on IG https://www.instagram.com/shannonkweinstein/

Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

What to Expect from Your Fractional CFO with Michael King Sep 07, 2023

Show notes

You may have heard me refer to myself as a fractional CFO. But, what does that actually mean and what should a fractional CFO be doing? We tackle this on the show today with guest Michael King. Michael is the CEO and founder of KFE Solutions, which is the top rated fractional CFO fir in Dallas, TX. He is also the founder of the CFO Accelerator, where he coaches and mentors other fractional CFOs to grow their firms and he hosts the CFO Report podcast. Michael was a mentor of mine in growing my practice, and you will quickly understand why and how his influence was instrumental in my business's growth.

Today on the show, we chat about what a fractional CFO does, how they make an impact, the difference between good and great CFOs and the key deliverables you should expect them to provide.

If you are an accounting professional looking to work with Michael, check out his Inner Circle here: https://www.thecfoaccelerator.com/a/2147530062/JBEBLZWw.

What you'll hear in this episode:

[1:34] Introduction to Michael King.

[3:49] Michael and I break down what fractional CFO's actually do.

[5:51] What are some of the beneficial side effects of having a fractional CFO on your team?

[7:49] What is the difference between a good fractional CFO and a great fractional CFO?

[13:41] Michael goes over an example of the benefits of a fractional CFO in detail.

[19:37] What deliverables people should expect from a fractional CFO at minimum?

[24:19 Michael gives advice on how to engage a fractional CFO and how to get the most out of these insights.

Connect with Guest:

The CFO Accelerator: https://www.thecfoaccelerator.com/

LinkedIn: https://www.linkedin.com/in/iammichaelking/

Website: https://www.thecforeport.com/

Instagram: https://www.instagram.com/thecfoaccelerator

* Related episodes:

Live Q&A Part 1: How to Find and Hire a Great Accountant

What is a CFO Power Session?

Profit First for Real Estate Investors with David Richter

Tactical Resources:

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry

See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

Additional Resources:

Find everything you need at https://www.keepwhatyouearn.com

Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

Hire us: https://www.fitnancialsolutions.com/accounting

Find me on IG https://www.instagram.com/shannonkweinstein/

Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

Are Groceries Deductible? Sep 06, 2023

Show notes

Ever pondered if those trips to the supermarket could be a business expense? Being an entrepreneur, I recognize the importance of good nutrition for peak performance.

Shouldn't that make my grocery runs deductible?

I'll delve into this query and explore some scenarios where your groceries might just be deductible.

What you'll hear in this episode:

[1:28] Exploring the criteria for deductible items

[2:12] Delving into instances when groceries could be tax-deductible

[4:30] Deductibility of groceries bought for others

[5:21] Other sections in your tax return where grocery deductions might apply [6:47] Could groceries be classified as a medical expense?

* Related episodes:

Should You Pay Quarterly Tax Estimates?

Positioning Yourself Well for a Tax Strategist with Grant Dougherty

How Do I Know if I Need to Collect and Pay Sales Tax?

Tactical Resources:

5-Day Financial Mindset Refresh: https://www.keepwhatyouearn.com/refresh

Create a Custom Podcast Playlist: https://quiz.tryinteract.com/#/6303d4c525b1e80018d47cfa

Grow Cash Flow for Your Business: https://www.keepwhatyouearn.com/endless-cash

Tax Deduction Guide: https://www.keepwhatyouearn.com/tax-deduction-guide

CFO Power Session: https://www.keepwhatyouearn.com/power-session-inquiry

See how much you can save with an S Corp: https://www.keepwhatyouearn.com/keep-what-you-earn-s-corp-calculator

Additional Resources:

Find everything you need at https://www.keepwhatyouearn.com

Questions about this episode? Text me!: https://my.community.com/shannonweinsteincpa

Hire us: https://www.fitnancialsolutions.com/accounting

Find me on IG https://www.instagram.com/shannonkweinstein/

Meet me face-to-face on YouTube: https://www.youtube.com/channel/UCMlIuZsrllp1Uc_MlhriLvQ

The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.

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