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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:

Does an S Corp Make Sense for Me? Jan 23, 2023

Show notes

If you've been scrolling through the finance side of any social media platform recently, you've likely had someone tell you to go get an S Corp. But the worst thing you can do is go get one just because someone told you to.

So how do you know when you're ready for an S Corp? I'm going to walk you through this. One of the barebones requirements for electing S Corp status is having a preexisting entity. Then you need to be asking yourself if you're profitable. Are you making at least $50,000 a year after expenses? If you do, great! Do you also have good financial hygiene? I'm talking solid bookkeeping, documentation, and keeping personal and business expenses separate. If you've got all of that, the last thing you need to do is be sure that you're current and compliant on all of your tax filings.

* Related episodes:

196. How to Handle Suspicious Tax Pros

201. How to Deduct Medical Costs and Self-Employed Health Insurance

204. Live Q&A: Will Anyone Actually Buy My Offer?

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 Cultivate Confidence Jan 20, 2023

Show notes

How does confidence show up in your business? You could be thinking right now, "Shannon, I'm super confident in what I do and who I am as an entrepreneur." That's all fine and well, but you may still be exhibiting signs of a lack of confidence. It's all about how you're showing up.

This was one of the major blocks I faced in 2022 and I didn't even know I was facing it until my perspective shifted. People will buy from you when they know, like, and trust you. The more you know, like, and trust yourself, the easier it'll be to help others do so!

So how can you unlock confidence in your business? First, prove to yourself that other people are doing the thing you want to be doing. Then, find ways to create quick wins for clients and get feedback from them. The final thing I did may surprise you. I started using repel marketing, vocalizing who I did not want to work with, sharing the kind of work I did not want to do, and making it clear who was not quite ready for my services.

* Related episodes:

197. Manifestation Mastery with Angela Christian

200. Setting and Exercising Effective Boundaries with Woodrie Burich

205. Lessons From 120 Women Leaders with Julia Boorstin

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Designing Systems to Scale with Ernesto Mandowsky Jan 19, 2023

Show notes

What do you know about system implementation in your business? A lot of people don't realize that they need certain systems within their business until it's too late.

Ernesto Mandowsky is the CEO of CPD Advisors. With a degree in Systems Engineering and over a decade of developing technology solutions at companies like Deloitte Consulting, Meyers USA, and The Palm, Ernesto is an expert in designing systems to help leaders scale their organizations.

Ernesto helps early-stage founders transform their operations by designing business systems utilizing his proprietary 6P Playbook. Outside of his work with founders, Ernesto is passionate about building a sustainable entrepreneurship community.

Check out the link for a free consultation with Ernesto:

www.freesystemscall.com

* Related episodes:

173. Offering Black Friday Deals with Sarah Jansel

174. Building Wealth Habits with Candy Valentino

176. When Should You Hire a Fractional CFO?

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

The Most Undervalued Trait of an Accountant Jan 18, 2023

Show notes

When it comes to finding the best accountant for your business, it's not just about their expertise. If the people with the most expertise can't answer every question for every scenario (news flash: nobody knows it all), they aren't going to be able to help you be your best without a little help!

Connectivity is the secret superpower we need to value in accountants and financial professionals. I have a lot of expertise in many areas but nobody can be an expert in all areas. So when I have a question, I have a community of other accountants who can help.

I think it's worth asking your accountant "how well connected are you?" or "when you have questions who do you go to?" This will help you determine if they'll truly be ready for any situation.

* Related episodes:

191. How Much Does an Accountant Cost?

192. "If I Started Over..." with Jason Weinstein

203. 2022 Recap: Bold Financial Mindset Shifts

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Content Creation Hacks with Kali Lee Jan 17, 2023

Show notes

Kali Lee is the founder of Kurate Creative, where she helps entrepreneurs market and scale their businesses. Kurate is our social media management agency! Kali and her team help manage the flow and distribution of so much of our social content. Today we're talking about that process, tips to create your own quality social content, and how to outsource effectively when you're ready.

If your social media has started to feel like a chore instead of an exciting opportunity, this one's for you. The key is to create content that can easily be repurposed. A podcast becomes a blog, which becomes a series of social media posts, and so on. You have to keep the process fun too! Create a plan and a structure to your process that helps you get more creative. Tune in for all of Kali's top tips.

Follow Kali on IG @kuratecreative

Visit the Kurate website to learn more about their offerings: www.kuratecreative.com/

* Related episodes:

175. How to Define Your Core Values

178. How I Crank Out Content

181. What Problem Do You REALLY Solve?

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 Track Your Business Miles Jan 16, 2023

Show notes

We've talked about vehicle deductions in previous episodes and how to take the deduction if it makes sense for your business. Essentially, all of the vehicle deductions are grounded in your understanding of how much you use that vehicle for business vs. personal use; and the only way you can document those differences is by tracking your miles!

When the IRS is looking to audit people, vehicle deductions are more likely to be flagged because they know you're likely estimating. Knowing how to properly track and document your numbers can save you a big headache should you ever be audited.

* Related episodes:

190. Live Q&A: Deducting Startup Costs in a New Business

196. How to Handle Suspicious Tax Pros

201. How to Deduct Medical Costs and Self-Employed Health Insurance

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

Creating a Cost-effective Agency Model with Paul Seaton Jan 13, 2023

Show notes

One of the objectives of a CFO is to turn data into decisions and some of those decisions tend to be a lot harder than others. Especially for agency owners and service providers, it's so important to understand how your costs and decisions relate to your bottom line.

Paul Seaton is a CPA and founder of AgencyCFO, a virtual CFO firm dedicated to helping digital & creative agencies develop and maintain a world-class financial infrastructure. While working at a Big 4 firm early in his career, Paul started a bookkeeping side hustle dedicated to serving marketing agencies.

Through this experience, Paul's discovered that many agency owners & founders need more than just bookkeeping help - they need a dedicated financial partner that can guide them practically toward achieving their business and financial goals.

We'll be diving into how to run a cost-effective agency and how to control costs, especially when most of your costs are related to employees! We're not going on and on about jargon and metrics, we're chatting about real-life scenarios that will help you understand your business finances.

* Related episodes:

176. When Should You Hire a Fractional CFO?

193. How to Read a Profit & Loss Statement

194. How to Read a Balance Sheet

* Connect with Paul on Twitter @agency_cfo

* Learn more on the Agency CFO website: https://www.agencycfo.co/

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 File 1099s Jan 12, 2023

Show notes

We're wrapping up our 1099 series with how to file them! I'm sharing a trade secret with you; these are actually ridiculously easy and cheap to file.

It's relatively easy to do, it can just be tedious work. If your tax pro doesn't like filing them, they'll likely charge you more for them when you may be able to get them filed cheaper elsewhere. Additionally, make sure you know who's filing them, sometimes tax pros handle it, and sometimes accountants handle it but on occasion, each assumes the other is doing it. So you want to be sure that someone is getting them filed!

Check out Shannon's preferred e-file 1099 service: www.efile4biz.com/

* Related episodes:

160. How to Manage a Business with Multiple Owners with Jeremy Wells, CPA, EA

183. Is it Too Late to Elect the S Corp?

190. Live Q&A: Deducting Startup Costs in a New Business

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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 is a 1099-K? Jan 11, 2023

Show notes

If you accept credit cards in your business, you'll likely be receiving a 1099-K. These are 1099s from your payment processors like Stripe, PayPal, Venmo, etc.

There are some nuances to pay attention to here. The number on the 1099 they send will likely be the gross amount you sold through their service. But you get charged a processing fee right? What you need to do is report the full amount on the 1099-K and then deduct the processing fee as an expense.

Note: This episode was recorded prior to an announcement by the IRS that they would not be making this change to lower the 1099-K reporting threshold to $600 from $20,000. For 2022 reporting, the threshold remains at $20,000.

* Related episodes:

160. How to Manage a Business with Multiple Owners with Jeremy Wells, CPA, EA

183. Is it Too Late to Elect the S Corp?

190. Live Q&A: Deducting Startup Costs in a New Business

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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.

I Received a 1099 - Now What? Jan 10, 2023

Show notes

As a service-based business owner, you're likely sending and receiving 1099's each year. In the last episode we covered when to send them and today, we'll be discussing what to do when you receive one.

When you receive a 1099, it shouldn't be telling you anything you don't already know. If it is showing income that you haven't tracked elsewhere, now is your chance to figure it out because the IRS will be checking to make sure you've reported the correct income.

I'll also be sharing what to do if you mistakenly receive a 1099 or if you receive a 1099 with inaccurate information.

* Related episodes:

160. How to Manage a Business with Multiple Owners with Jeremy Wells, CPA, EA

183. Is it Too Late to Elect the S Corp?

190. Live Q&A: Deducting Startup Costs in a New Business

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

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

* Chat about this episode in the Keep What You Earn Community – http://keepwhatyouearn.circle.so

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

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

* Find me on IG @shannonkweinstein

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

* Featured in Yahoo Finance! Read more here: https://finance.yahoo.com/news/10-bookkeepers-accountants-watch-2021-113800161.html

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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