Business By The Books with Danielle Hayden

High-yield savings accounts (HYSAs) are creating buzz in the business world, and for good reason! In this episode, Danielle Hayden, CPA and founder of Kickstart Accounting, Inc., dives into how high-yield savings accounts can help business owners make the most of their cash reserves. With action steps you can take today, Danielle lays out how to use HYSAs as a smart, low-risk tool for growing your money while still keeping it accessible. Have your money work for you as it sits in savings!  Key Takeaways:  What is a High-Yield Savings Account (HYSA): Danielle explains how HYSAs differ from traditional accounts and why they’re a smart choice for short-term savings, earning you hundreds, or even thousands, of dollars in interest with minimal effort. Key Considerations When Choosing an HYSA: Transfer times: How long it takes to move funds back to your checking account. Transaction limits: Planning around monthly withdrawal caps to avoid penalties. FDIC insurance: Ensuring your money is protected. Common Pitfalls to Avoid:  Why your account name matters for proper accounting and legal compliance. The difference between business and personal savings and how to ensure you're staying tax-compliant. Action Steps: Open a high-yield savings account for your business if you haven’t already. Ensure your account is in the correct name (business or personal) based on your savings purpose. Review your current cash savings strategy and evaluate your options to choose an HYSA that aligns with your financial goals. Topics Discussed: What is a High-Yield Savings Account (HYSA)? (00:00:23 – 00:01:10) Benefits of HYSAs for Business Owners (00:01:10 – 00:02:03) Choosing the Right HYSA (00:02:03 – 00:03:30) The Financial Impact of HYSAs (00:03:30 – 00:04:24) Proper Use and Compliance Tips (00:06:24 – 00:09:05)   Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

The abrupt closure of Vancouver, Canada-based venture capital bookkeeping and accounting firm, Bench, left 30,000 business owners scrambling last month and also served as a powerful wake-up call: how well do you know your bookkeeping partner and are they really working for you? In this episode, Danielle Hayden, CPA and founder of Kickstart Accounting, Inc., discusses what we can learn from the fallout of Bench Accounting’s unexpected shutdown and shares must-know tips for choosing an accounting partner who’ll support your business with stability, transparency, and care. From spotting red flags, like use of proprietary software that can trap your data, to finding a team that supports your goals, Danielle equips you with the questions you need to ask before partnering with a bookkeeping or accounting firm. That way you can make the switch to a partner you trust and is truly there for your business.  Key Takeaways:  The Importance of Monthly Financial Statements: Ensure your bookkeeper isn’t just handling your numbers but is providing clear, consistent financial reports to help you make informed decisions. Stay in Control of Your Data: Avoid accounting services that use proprietary software, which limits access to your data and ultimately, can halt your business’s momentum. Choose partners who give you full control over your financial history. Choose a Team That Cares: Your bookkeeping partner should celebrate your wins, support you through challenges, use transparent practices, and provide personal, reliable communication. In other words, give you genuine human connection and insights.  The Value of a Well-Established Brand with a Proven Track Record: Stability matters. Work with firms that have a reputation for success built on a strong foundation with long-term goals and a commitment to their clients, not ones susceptible to abrupt closures or operational risks. Topics Discussed: The Bench Accounting Shutdown (00:00:21 – 00:03:28) Checklist for Choosing the Right Bookkeeping and Accounting Partner (00:03:28 – 00:07:30) Why Kickstart Accounting’s Framework Is a Step Above the Rest (00:08:22 – 00:12:38) Kickstart’s Seamless Onboarding Process for Hassle-Free Switching (00:12:05 – 00:13:04)   Get Started with Kickstart Accounting, Inc. Today:  kickstartaccountinginc.com/signupnow    Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

The New Year is here, bringing fresh opportunities to take your business to the next level! In this annual episode, Danielle dives into the trends for small business owners and their finances, breaking down what’s ‘in’ and ‘out’ for 2025. From goal-oriented budgeting and game-changing financial habits to mindset shifts and ditching outdated spreadsheets, we’re covering everything you need to tackle your business finances with clarity, confidence, and efficiency this year. Tune in and get ready to thrive in 2025! Key Takeaways:  In with Goal-Oriented Budgeting: Traditional budgeting feels restrictive, but this year, it’s all about giving yourself permission to spend strategically to fuel growth.  Consistent Financial Review Routines: Make reviewing your financials enjoyable! Ways successful CEOs build accountability into their routines, whether it’s a coffee shop treat or quarterly check-ins with a financial team. Embracing Financial Education: Stop avoiding your numbers! In 2025, we’re flipping the script and using financial data to feel empowered and make informed decisions. The Power of Gratitude in Business: Learn how integrating gratitude into your planning process can fuel growth and help you celebrate wins instead of rushing to the next goal. Topics Discussed: The Shift to Goal-Oriented Budgeting (00:00:26 – 00:00:52) The Power of Consistent Financial Review Routines (00:00:52 – 00:02:18) Embracing Technology and Tools to Streamline Operations (00:03:20 – 00:04:27)  What’s OUT in 2025: Overcommitting and Outdated Habits (00:05:09 – 00:05:57) Mindset Shifts for Business Growth in 2025 (00:07:25 – 00:08:18)   Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc

If the "New Year, New Me" mantra feels overwhelming or unsustainable, this episode is your antidote. In this episode, CEO and founder of Kickstart Accounting, Inc., Danielle Hayden, dives into a fresh, intentional approach to the new year, replacing lofty resolutions with strategic, habit-based goal setting. Say goodbye to the all-or-nothing mindset and hello to a year grounded in clarity, purpose, and realistic growth. Key Takeaways:  Forget Resolutions – Choose Intention: Danielle encourages you to ditch the pressure of creating a "new you" and instead focus on setting an intention or theme for the year that aligns with the life and business you want to build. Build Sustainable Habits: Use strategic, habit-based planning inspired by books like Atomic Habits by James Clear. It’s about the small, consistent actions that build momentum. Use Data to Plan Realistically: Rely on your financials and historical data to map out goals. Dream big, but let your numbers guide the path. Create a Roadmap with a Budget: A budget isn’t about restriction; it’s your clarity and direction. Danielle explains how to make it measurable and actionable. Accountability is Key: Whether it’s a coach, peer group, or the Kickstart Accounting team, surround yourself with people who will hold you accountable to your goals. Embrace Flexibility: Life happens! Falling off track doesn’t mean failure. Check in quarterly, adjust your plans, and give yourself the grace to adapt. Action Steps Set your intention or word of the year. Let it anchor your decisions and habits. Map out the daily habits, systems, and team support you’ll need to achieve your theme. Use your financial data to set realistic growth goals for the year. Build a budget as your roadmap to guide decision-making throughout the year. Find an accountability partner or coach to help you stay on track and adjust as needed. Schedule quarterly check-ins to review your financials, re-forecast your goals, and course correct. Topics Discussed:  Why New Year's Resolutions Fail (00:00:24 - 00:02:21) A Habit-Based Approach to Goal Setting (00:02:58 - 00:05:11) Mapping Out Habits, Systems, and Support (00:05:11 - 00:06:30)  Using Financial Data to Set Realistic Goals (00:06:30 - 00:08:11) Accountability and Adapting to Change (00:09:01 - 00:11:21)   Resources: Build a Budget Series CFO Services | kickstartaccountinginc.com/cfo  Book Recommendation | James Clear’s Atomic Habits  Free Money Personality Quiz | kickstartaccountinginc.com/quiz    Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

If you’re thinking about automating your bookkeeping, there are a few things you may want to know and take into consideration first. In this episode, Danielle Hayden, host and founder of Kickstart Accounting Inc., welcomes Kelsey Chester, Kickstart’s Lead Account Manager, back to the show to discuss a topic that's taken the world by storm this year: Artificial Intelligence (AI). They dive into how the popularity of AI-driven technologies are impacting bookkeeping and financial management.  They explore both the intriguing possibilities of AI and the potential risks of relying solely on it to do your business’s finances. From tools like ChatGPT to automated invoicing systems, they’re breaking down what’s hype, what’s helpful, and where human expertise still rules. Before you put your bookkeeping in AI’s hands, take a listen to this episode!   Key Takeaways:  The Buzz Around AI: How AI tools have been incorporated into business software and you may not even know you’re using it at times.  AI’s Role in Bookkeeping: Key tasks AI claims to streamline, including automated data entry, expense categorization, invoicing and billing, and financial analysis and tax prep. Why AI Alone Isn’t Enough: Real-life examples of AI mishaps in bookkeeping, including costly errors like misclassified expenses, duplicated revenue, and even invoicing chaos. The Importance of Expertise: Why trusting AI without knowledge of bookkeeping basics can be a recipe for disaster and why a skilled money team is still irreplaceable. Security Concerns: What happens to your financial data when you use AI? You may not be able to ensure sensitive information stays protected when using it.  The Value of the Human Touch: Insights into how a dedicated team brings expertise, accountability, and personalization that AI simply can’t replicate. Topics Discussed:  AI in Bookkeeping: Overview (00:00:19:18 - 00:00:52:00) Potential Uses of AI in Financial Management (00:00:52:00 - 00:02:31:01) AI’s Limitations in Bookkeeping (00:02:31:01 - 00:06:53:17) Expense Categorization and Automation Issues (00:06:53:17 - 00:08:01:14) AI Challenges with Invoicing and Payments (00:08:01:14 - 00:09:23:29) The Need for Human Oversight (00:09:23:29 - 00:11:05:07) Security Concerns with AI (00:11:05:07 - 00:12:05:09) Complexity, Cost, and Human Trust (00:12:05:13 - 00:13:47:04)   Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc    

Cash flow is the lifeblood of every business. In this episode, guest host and Kickstart’s Business Development Manager, Aubrey Philipp, walks through 8 actionable steps you can take to help improve cash flow and keep a consistent inflow, whether you’re looking to boost short-term profits or build a strong foundation for long-term success.  From determining your financial focus to strategically using debt, this episode has tips every entrepreneur and business owner can apply today to take control of their cash flow! Key Takeaways:  Understand Your Financial Focus: Decide whether to prioritize short-term profits or long-term value. This clarity will guide your decisions and strategies. Assign Ownership: Every line on your income statement should have a designated team member who takes responsibility for that line to ensure accountability and alignment with your business’s goals. Assess Client Profitability: Identify clients or services that are consistently unprofitable and consider letting them go to free up resources for more lucrative opportunities. Collect Payments Upfront: Improve cash flow and reduce unpaid invoices by requiring deposits, retainers, or full payments before work begins. Bill Early and Often: Frequent billing keeps cash coming in and reduces delays in payments. Break invoices into smaller, more manageable installments if possible. Dedicate Time to Implementation: Block time regularly to act on strategies that enhance your cash flow. Consistency is key to success. Use Debt Strategically: When planned properly, debt (like a line of credit) can be a powerful tool to stabilize cash flow and fund growth. Monitor and Adjust Regularly: Cash flow management is an ongoing process. Review your finances regularly and tweak strategies as needed to stay ahead. Topics Discussed:  The Importance of Cash Flow (00:24 - 00:50) Step 1: Determine Your Financial Focus (00:51 - 01:25) Step 2: Assign Responsibility for Each Line in Your Income Statement (01:25 - 02:03) Step 3: Assess Profitability by Client and Service (02:03 - 02:29) Step 4: Collect Payments Upfront (00:03:03 - 00:03:35) Step 5: Bill Early and Bill Often (03:35 - 04:01) Step 6: Dedicate Time to Implement Strategies (04:01 - 04:28) Step 7: Use Debt Strategically (00:04:28 - 00:04:48) Step 8: Monitor and Adjust Regularly (04:48 - 05:14)   Resources: Episode 200 | Cash Flow: Are You the Problem? Why Consistency is Key to Sustainable Revenue   Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc

In this episode, Danielle Hayden, host and founder of Kickstart Accounting Inc., dives into a challenge many entrepreneurs face: how to bring cash into your business without falling into the trap of constant pivoting. With cash flow struggles top of mind for many business owners, Danielle makes the case for staying consistent with your core offerings rather than introducing new ones. She explores the common mistakes visionary entrepreneurs make when they chase shiny new ideas, shares the importance of giving strategies time to yield results, and emphasizes why consistent effort is the key to long-term, sustainable cash flow.  Key Takeaways:  Consistency > Constant Change: Real business growth happens when you stick with your core strategies and offerings long enough to see results. Shiny Object Syndrome: Visionary entrepreneurs thrive on new ideas but often struggle with focus. Resist the urge to pivot every time progress feels slow. Compounding Efforts: Success lies in the “boring” repetition of what works. Consistency builds trust, credibility, and, ultimately, cash flow. Balance Innovation with Fundamentals: Leave room in your budget to experiment with new strategies while staying committed to your foundational offerings. Topics Discussed:  Introduction: The Challenge of Cash Flow (00:00 - 00:29) Why Visionaries Struggle with Consistency (01:24 - 03:12) Sustainable Cash Flow through Consistency (03:32 - 04:27) Applying Pressure and Staying Consistent (05:22 - 06:22) Balancing Innovation with Consistency (06:59 - 07:48)   Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

The holidays are here, and it’s the perfect time to show appreciation for the people who make your business thrive—your employees, contractors, and clients. But we know that gift-giving as a business owner can feel tricky. So, how do we balance generosity while staying compliant with the IRS?  In this episode, host Danielle Hayden, CPA and founder of Kickstart Accounting, Inc., is here to guide you through the gift-giving process in a way that’s simple, stress-free, and keeps you tax-compliant. From what counts as a deductible gift to thoughtful ways to give your team a boost of morale and company culture, Danielle breaks it all down in an easy-to-follow framework. Whether you’re planning something small or looking to go big, this episode will help you gift confidently and compliantly, all while making your team and clients feel truly valued. Key Takeaways:  Follow IRS Gift Rules: Gifts to employees must be tangible and under $75 to remain tax-free, while cash or gift cards are always taxable. Use a Gift-Giving Framework: Clarify your motivation, identify the recipient, consider the perceived value, and ensure the gift aligns with IRS limits. Make Payroll Gifts Meaningful: Create special moments around payroll-based gifts with personalized communication or gross-up amounts to cover taxes. Document for Deductions: Keep detailed records of all business gifts, including cost, recipient, and purpose, to ensure tax compliance. Consider Personal Gifting Options: Use owner’s draws for personal generosity while ensuring compliance with salary requirements for S Corp owners.   Topics Discussed:  What Qualifies as a Business Gift (00:00:50 - 00:01:25) Framework for Business Gift-Giving (00:02:17 - 00:04:36) IRS Rules for Gifts to Employees (00:05:03 - 00:08:38) IRS Rules for Gifts to Contractors & Clients (00:08:39 - 00:10:18) Gift Recordkeeping (00:12:09 - 00:13:01) Giving Gifts with Owner’s Draws (00:13:28 - 00:15:21)   Resources:  Free Guides | https://kickstartaccountinginc.com/Gift/  How to Pay Yourself as a Business Owner 6 Tax Tips Every Business Owner Should Know    Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

In this episode, we’re diving into something unexpectedly powerful: how gratitude can transform our mindset and lead to financial success. Host Danielle Hayden, founder and CEO of Kickstart Accounting, Inc., has helped thousands of entrepreneurs take control of their numbers and build thriving businesses over the years. But here’s the thing, success isn’t just about the numbers. Our mindset plays a huge role, and that’s where gratitude comes in. Danielle shares how a simple daily gratitude practice can help reduce stress, boost motivation, and shift from a scarcity mindset to one of abundance. Whether we’re tackling tough financial decisions, working toward big business goals, or just looking for ways to stay energized and focused, taking a moment to celebrate our progress can help us find new focus and continue to grow businesses we love!  Key Takeaways:  Why Gratitude Matters: Discover how gratitude enhances relationships with team members and clients, shifts your mindset from scarcity to abundance, and boosts motivation and focus. Gratitude as a Daily Practice: Learn how listing things you're grateful for—whether 3 or 20—can rewire your brain, reduce stress, and help you celebrate progress. Overcoming Financial Stress: Danielle explains how gratitude can help business owners release financial anxiety, make more strategic decisions, and stay motivated during challenging times. Budgeting with Gratitude: Shift your perspective on budgeting from limitation to empowerment, focusing on the opportunities it brings for growth and impact. How to Start Your Gratitude Practice: Simple, actionable steps to incorporate gratitude into your daily routine, including journaling, setting goals, and celebrating wins with your team. Topics Discussed:  Introduction to Gratitude and Financial Success (00:00:00 - 00:00:57) Shifting from Scarcity to Abundance (00:02:06 - 00:03:01) Boosting Motivation and Celebrating Small Wins (00:03:01 - 00:03:54) Reducing Financial Stress with Gratitude (00:03:54 - 00:04:56) Practical Steps to Start a Gratitude Practice (00:07:45 - 00:08:48)   Resources:  Money Personality Quiz | kickstartaccountinginc.com/quiz    Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc  

As the year winds down, it’s time to tackle an important yet often overwhelming task for many business owners: preparing for 1099s and tax season! In this highly-requested episode, Danielle Hayden, CPA and founder of Kickstart Accounting, Inc., teams up with Kelsey Chester, Kickstart’s Lead Account Manager, to deliver a step-by-step guide to staying organized and compliant with IRS rules when filing your taxes.  Whether you’re a seasoned business owner or just starting out, this episode has something for you. From IRS compliance to best practices for collecting W9s and knowing when to transition contractors to employees, Danielle and Kelsey cover it all with practical advice and actionable insights to help you tax prep with confidence. Key Takeaways:  Understanding W9s and 1099s: A W9 gathers contractor info, while a 1099 reports payments over $600—always collect a W9 before paying contractors. Best Practices for W9 Collection: Collect W9s electronically, store them securely, and require submission before issuing payments. Payment Methods and 1099 Requirements: Personal Venmo/Cash App payments may require a 1099, while business platforms like PayPal might issue them automatically—verify with the platform. Contractor vs. Employee: Contractors control their work methods and tools, while employees follow your guidance, schedule, and use your resources. Making the Shift to Employees: Transitioning to employees ensures compliance, builds retention, and avoids IRS penalties for misclassification. Plan Ahead for Payroll Setup: Start payroll planning early to streamline the January rush. Topics Discussed:  What is a 1099 and a W9? (00:01:08 - 00:02:57) Best Practices for Collecting W9s (00:02:57 - 00:04:12) Storing W9s and Organizing Financial Records (00:04:12 - 00:05:10) Who Needs a W9 and When to Collect It? (00:05:10 - 00:06:34) Payment Methods and IRS Guidelines (e.g., Cash App, Venmo) (00:06:34 - 00:08:23) Difference Between Contractors and Employees (00:08:23 - 00:11:32) When to Move Contractors to Employees (00:11:32 - 00:14:20) Benefits of Hiring Employees (00:14:20 - 00:15:00) Clarification on Employee Benefits for Part-Time Employees (00:15:00 - 00:15:19) Summary and Getting Help (00:15:55 - 00:18:28)   Resources:  Tax Forms | https://www.irs.gov/  Free Guides | https://kickstartaccountinginc.com/gift/  6 Tax Tips Every Business Owner Should Know    Book a Call with Kickstart Accounting, Inc.: https://www.kickstartaccountinginc.com/book    Connect with Kickstart Accounting, Inc.: Instagram | https://www.instagram.com/Kickstartaccounting YouTube | https://www.youtube.com/@businessbythebooks  Facebook | https://www.facebook.com/kickstartaccountinginc